New England Economic Review

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

Articles from January-February

Financial Innovation and Standards for the Capital of Life Insurance Companies
Since their inception, insurance companies, banks, and other financial institutions have played prominent roles in our capital markets. These intermediaries have fostered saving and investment by issuing liabilities that appeal to savers in order to...
Interest Rate Derivatives and Asset-Liability Management by Commercial Banks
Bank participation in derivative markets has risen sharply in recent years. The total amount of interest rate, currency, commodity, and equity contracts at U.S. commercial and savings banks soared from $6.8 trillion in 1990 to $11.9 trillion in 1993,...
The Persistence of Inflation and the Cost of Disinflation
Some economic questions can be considered only within the context of an economic model. For example, "How costly would it be (in terms of lost jobs and output) to lower the inflation rate to zero?" is a question that, because it is counterfactual, can...