Publications

Evaluating the Effects of Monetary Policy with Economic Models
Tao Zha
This article assesses the usability of a specific economic model for policy evaluation on the basis of certain criteria the economic literature recognizes.

Fully Funded Social Security: Now You See It, Now You Don't?
Marco A. Espinosa-Vega and Steven Russell
The authors of this article describe the basic differences between pay-as-you-go and fully funded systems and explain why these differences are important.

Mergers of Publicly Traded Banking Organizations Revisited
Simon Kwan and Robert A. Eisenbeis
This article explores the question of whether the various expected performance and earning benefits of mergers are in fact realized.

Economic Policy Trends in Post-World War II Latin America
Carlos Lozada
As the author of this article demonstrates, the current rethinking of economic policy in Latin America is only the latest chapter of a much longer story. Well before the recent episodes of financial turmoil, Latin American economies had already proven vulnerable to external economic shocks.