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ECONOMIC POLICY in the 1980s may eventually become the most studied and hotly debated of any decade in United States history, even including the 1930s. Popular writings about the 1980s economy alr...
We first document a large secular shift in the estimated response of the entire term structure of interest rates to inflation and output in the United States. The shift occurred in the early 1980s. W...
We consider two classes of explanations for the rise in policy-related economic uncertainty in the United States since 1960. The first stresses growth in government spending, taxes,and regulation. A s...
Modern income tax systems are multidimensional, applying different rates to different income levels. Yet few studies of public preferences over taxation or redistribution measure multidimensional poli...
The exposure of U.S. Treasury bonds to the stock market has moved considerably over time. While it was slightly positive on average in the period 1960–2011, it was unusually high in the 1980s and nega...
Between 1928 and 1960 U.S. cotton production witnessed a revolution with average yields increasing roughly threefold. In addition, the average staple length of the U.S. crop increased significantly, r...
Since Milton Friedman's (1968) presidential address to the American Eco-nomic Association, one of the most enduring ideas in macroeconomics has LJ been that inflation will increase ...

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