Business Economics

Professional journal of the National Association of Business Economists covering topics such as macro and microeconomics, monetary and fiscal policy, business forecasting, international economics, and deregulation.

Articles from Vol. 36, No. 1, January

Anticipating Monetary Policy with the Federal Reserve's Beige Book: Re-Specifying the Taylor Rule
IMPROVING THE USEFULNESS OF THE TAYLOR RULE FOR BUSINESS ECONOMISTS. A re-specification of the popular Taylor Rule for monetary policy shows that both manufacturing capacity utilization and an index created from the Beige Book contribute significantly...
Financial Crises in Emerging Markets: An Essay on Financial Globalization and Fragility
By Alexandre Lamfalussy. New Haven, CT: Yale University Press. 2000. Pp. 220. $25.00 hardcover. This book, is "must reading" for business economists, investment professionals, and anyone concerned with the interaction between financial markets and...
Forecasting Inflation and Growth: Do Private Forecasts Match Those of Policymakers?
THE BLUE CHIP CONSENSUS FORECAST IS A GOOD MEASURE OF THE OUTLOOK AS SEEN BY FED POLICYMAKERS. FOMC projections are important because they provide information for evaluating current monetary policy intentions and because they indicate what FOMC...
From the Editor
Not too many years ago, it seemed that the outlook for every year was popularly characterized by "unprecedented and growing uncertainty." This concern with uncertainty seemed to die out in the late 1990s and for most of 2000, but as we enter 2001 it...
Has Securitization Increased Risk to the Financial System?
SECURITIZATION HAS STRENGTHENED THE SYSTEM OVERALL, BUT SOURCES OF RISK REMAIN WHEN PRACTICE DEPARTS FROM THE IDEAL REFLECTED IN THE ACCOUNTING TREATMENT The burgeoning volume of securitizations has generated concerns over risks to the financial...
Reforming Social Security in the US.: An International Perspective
LESSONS FROM ABROAD CAN HELP THE U.S. GET IT RIGHT. Social security reform (or its absence) will have important impacts throughout the U.S. economy, including business. This paper describes the multi-pillar social security reform strategy that many...
Results of the Readers' Survey on Business Economics
The April issue of Business Economics included a survey form, whose introduction declared: "The purpose of this survey is to determine what you, the readers of Business Economics, would like to have in your journal and how it should be presented."...
The Challenges of Affluence
IN ADDITION TO GOOD MACROECONOMIC POLICY, IT IS IMPORTANT TO CREATE OPPORTUNITIES FOR THOSE WHO HAVE BEEN LEFT BEHIND. Over the past decade, effective monetary and fiscal policy--plus a long-term trend of deregulation and opening up the economy--has...
The Lessons from Microsoft
MICROSOFT'S BEHAVIOR TEACHES ECONOMISTS A LOT ABOUT STRATEGIC BEHAVIOR IN A RAPIDLY CHANGING ENVIRONMENT. This paper examines the lessons economists can draw from the Microsoft litigation. The paper explains that the most interesting economic lesson...
Tomorrow's Electric Distribution Companies
CRUCIAL STRATEGIC DECISIONS WILL AFFECT THE ENTIRE U.S. ECONOMY. The electric industry has been dominated by vertically integrated utilities for most of its history. These utilities are being restructured as the electric industry is being deregulated...
Transition and Economics: Politics, Markets and Firms
By Gerard Roland. Cambridge, MA: MIT Press. 2000. 368 Pp. $45.00 hardcover. Transition and Economics is an outstanding advanced-undergraduate to graduate-level introduction to the rapidly growing field of Transition Economics. This new field of...