Economic Policy Review

A policy-oriented journal focusing on economic and financial market issues. The Review publishes new research by Federal Reserve Bank of New York economists, papers by affiliated economists, and the proceedings of Bank-sponsored conferences. Executive summaries of select articles are available online.
See: Economic Policy Review Executive Summaries »
Editor: Kenneth D. Garbade
Browse the Economic Policy Review:
2003 Articles
Volume 9, Number 3September

Part 1: "Economic Statistics: New Needs for the Twenty-First Century"
Selected Papers from a Conference Cosponsored by the Federal Reserve Bank of New York, the Conference on Research in Income and Wealth, and the National Association for Business Economics
July 11, 2002

Press Release
Opening RemarksPDF2 pages / 29 kb
Jamie B. Stewart, Jr.
Price Hedonics: A Critical ReviewPDF11 pages / 128 kb
Charles R. Hulten
Remarks on the Measurement, Valuation, and Reporting of Intangible AssetsPDF6 pages / 74 kb
Baruch Lev
Productivity Measurement Issues in Services Industries: "Baumol's Disease" Has Been CuredPDF11 pages / 149 kb
Jack E. Triplett and Barry P. Bosworth
Part 2: Articles
What Market Risk Capital Reporting Tells Us about BankRisk
Beverly J. Hirtle
Formulating the Imputed Cost of Equity Capital for Priced Services at Federal Reserve Banks
Edward J. Green, JoseA.Lopez, and ZhenyuWang
Measuring Treasury Market Liquidity
Michael J. Fleming
Volume 9, Number 2June

Policies to Promote Affordable Housing
Proceedings of a Conference Cosponsored by the Federal Reserve Bank of New York and New York University's Furman Center for Real Estate and Urban Policy

Volume 9, Number 1April

Special Issue: “Corporate Governance:
What Do We Know, and What Is Different about Banks?”

IntroductionPDF3 pages / 55 kb
Hamid Mehran
Boards of Directors as an Endogenously Determined Institution: A Survey of the Economic Literature
Benjamin E. Hermalin and Michael S. Weisbach
Executive Equity Compensation and Incentives:
A Survey

John E. Core, Wayne R. Guay, and David F. Larcker
A Survey of Blockholders and Corporate Control
Clifford G. Holderness
Transparency, Financial Accounting Information, and Corporate Governance
Robert M. Bushman and Abbie J. Smith
The Corporate Governance of Banks
Jonathan R. Macey and Maureen O'Hara
Incentive Features in CEO Compensation in the BankingIndustry
Kose John and Yiming Qian
Is Corporate Governance Different for Bank HoldingCompanies?
René Adams and Hamid Mehran