作者：TOMA, M
摘要：In 1942 the U. S. Treasury and the Federal Reserve agreed to keep the interest rate on long-term government bonds below a ceiling of 2.5 percent. Assuming rational expectations, the ceiling on long-term interest rates can be viewed as a government commitment to low long-run inflation. The Fed also agreed to buy and sell short-term government bonds at a below-market rate of 3/8 percent. This policy did not result in long-run inflation because it was narrowly confined to 3-month Treasury bills.
作者：VEDDER, RK; GALLAWAY, L
摘要：Although the ratio of nonwhite to white unemployment rates in the United States has approximated two to one for most of the postwar era, such large racial differences did not exist 60 to 100 years ago. In the era from 1890 to 1930, the nonwhite unemployment rate seemed not to be materially different than the white rate. Though writers such as Edna Bonacich, Robert Higgs, and Gerald Jaynes have made perceptive observations about race-specific differences in job opportunities over time, they did...
作者：BODENHORN, H
摘要：Studies of postbellum financial markets have shown that the United States was not served by an integrated short-term capital market until the turn of the twentieth century. Until recently the data necessary for the study of a similar phenomenon in the antebellum period have not been available. This article reports several new regional interest rate series for the antebellum era that show that antebellum credit markets were more integrated than postbellum markets.
