The paper surveys the recent literature on the fiscal implications of central bank balance sheets, with a special focus on political economy issues. It then presents the results of simulations that describe the effects of different scenarios for the Federal Reserve's longer-run balance sheet on...

This studyrebuts much of the traditional rationale forregulatory restrictions and provides a list of principles of regulation that would serve as a model for global accounting practices.

This volume shows that the public policy concerns are not accidental, because such industries often embody two major and widely recognized forms of potential market failure.

This volume shows that the public policy concerns are not accidental, because such industries often embody two major and widely recognized forms of potential market failure.

This studyrebuts much of the traditional rationale forregulatory restrictions and provides a list of principles of regulation that would serve as a model for global accounting practices.