Vol. 89, No. 3
Third Quarter 2004
Monetary Explanations of the Great Depression: A Selective Survey of Empirical Evidence
Paul Evans, Iftekhar Hasan, and Ellis W. Tallman
This article surveys recent modeling efforts and empirical work that examine aggregate explanations for the Great Depression from both the extensive literature using vector autoregression techniques and the more recent literature using dynamic stochastic general equilibrium modeling. Neither of these approaches has yielded a consensus about the causes of the depression.
Growing Part-Time Employment among Workers with Disabilities: Marginalization or Opportunity?
Julie L. Hotchkiss
Even though part-time jobs offer lower pay, fewer benefits, and less stability, voluntary part-time employment among disabled workers has increased over the past twenty years even as part-time work has declined among nondisabled workers. Does this trend signal that part-time work has become more attractive to disabled workers, or does it mean that disabled workers are being pushed to the fringe in the workforce?
Modeling the Term Structure of Interest Rates: An Introduction
This article presents a model of the term structure that builds on a simpler model outlined in one of the author's earlier Economic Review articles. The more complex model presented here takes into account the ongoing uncertainty about an asset's price over time.