June 2007 issue contents

Cover and contents (PDF, 4 pages, 214 kb)

Monetary Policy inertia or Persistent Shocks: a DSGE Analysis
  by Julio Carrillo, Patrick Fève, and Julien Matheron

The Role of the Bias in Crafting Consensus: FOMC Decision Making in the Greenspan Era
  by Henry W. Chappell, Jr., Rob Roy McGregor, and Todd A. Vermilyea

Low Nominal Interest Rates: A Public Finance Perspective
  by Noritaka Kudoh

Inflation Convergence and Divergence within the European Monetary Union
  by Fabio Busetti, Lorenzo Forni, Andrew Harvey, and Fabrizio Venditti

Interbank Exposures: An Empirical Examination of Contagion Risk in the Belgian Banking System
  by Hans Degryse and Grégory Nguyen

Is Moderate-to-High Inflation Inherently Unstable?
  by Michael T. Kiley