Dr. Econ

Discusses the implications of an imbalance between imports& exports including changes to the foreign exchange rate, currency devaluation, and dollar depreciation

Discusses the distinction between deflation and disinflation,as well as some of the principle causes of deflation.

Discussion of factors that have affected economic knowledge of, and the strength of business cycles, including changing job composition, the creation of the Federal Reserve, as well as the shift in production from a manufacturing economy to a service economy.

Discussion surrounds the role of business cycles, and the risk & return of international stock markets in building a diversified portfolio for investing.

Discusses the adjustment costs associated with rising inflation, as well as the fallacy in assuming a positive correlation between inflation & output.

In the 1910s, the discount rate variance among the regional banks was large because capital did not flow as easily fromone region to another. Today, however, the single national discount rate among Fed Districts reflects a unity in national credit markets.

Discussion concerning what constitutes saving or investment with regard to equities, particularly during a period of “asset inflation” in the stock market.

The proposal to go to a dollar-based economy in order to alleviate the Russian currency crisis would not greatly impact U.S. monetary policy. However, because the use of the dollar as a medium of exchange with the ruble would increase the quantity of U.S. currency in circulation, the establishment of a currency board would help lessen any effects on the U.S. monetary base and help facilitate the conduct of monetary policy.

The usefulness of commodity prices as a leading indicator of general price inflation is questionable because they are dependent upon the type of demand shift that occurs, for example, economy-wide demand shocks (i.e. oil shock of the 1970s)or shifts in the relative demand for commodities and goods.

Discusses the relationship between inflation and distortions in economic decisions, which can have adverse effects on long-term economic growth by creating additional costs such as an inflation risk premium, and in the case of high rates of inflation, an inflation tax.