The prices of stocks, bonds, and other assets frequently fluctuate, and sometimes these fluctuations are quite large. Such price shifts have important economic implications, including the possibility that asset prices have predictive power for the business cycle. In this article, Lee Ohanian...

The different methods used by Great Britain and the United States to finance World War II had a significant impact on postwar economic growth in the two countries. In this article, Lee Ohanian discusses the evolution of war-finance policies in the two countries and examines how the different...