New England Economic Review

New England Economic Review is a magazine specializing in Economic topics.

Articles from March-April

Anomalies in Option Pricing: The Black-Scholes Model Revisited
This study is the third in a series of Federal Reserve Bank of Boston studies contributing to a broader understanding of derivative securities. The first (Fortune 1995) presented the rudiments of option pricing theory and addressed the equivalence between...
How Do Changes in Military Spending Affect the Economy? Evidence from State-Level Data
A principal task for macroeconomics is to explain business cycles - why economies experience somewhat regular patterns of expansion and contraction, with a high degree of correlation across industries and regions. This is also a difficult task; for example,...
International Capital Movements: How Shocking Are They?
The power of international capital movements over national economies has been forcefully demonstrated in recent years by speculative attacks on the exchange rates of a number of currencies, including several European currencies during 1992 and 1993 and...