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The Need for Very Low Interest Rates in an Era of Subdued Investment Spending
Inflation and Japan’s Ever-Tightening Labor Market
The Rapidly Changing Nature of Japan’s Public Debt
Crisis Chronicles: Gold, Deflation, and the Panic of 1893
The Turnaround in Private and Public Financial Outflows from China
What Tracks Commodity Prices?
Crisis Chronicles: The Long Depression and the Panic of 1873
The Importance of Commodity Prices in Understanding U.S. Import Prices and Inflation
Crisis Chronicles: Defensive Suspension and the Panic of 1857
Do Asset Purchase Programs Push Capital Abroad?
Falling Oil Prices and Global Saving
Crisis Chronicles: The Man on the Twenty-Dollar Bill and the Panic of 1837
Demographic Trends and Growth in Japan and the United States
The Declining U.S. Reliance on Foreign Investors
High Unemployment and Disinflation in the Euro Area Periphery Countries
Comparing U.S. and Euro Area Unemployment Rates
Japan's Missing Wall of Money
Capital Flight inside the Euro Area: Cooling Off a Fire Sale
Foreign Borrowing in the Euro Area Periphery: The End Is Near
The Different Paths of Greece and Spain to High Unemployment
Income Flows from U.S. Foreign Assets and Liabilities
Euro Area Spending Imbalances and the Sovereign Debt Crisis
Central Bank Imbalances in the Euro Area
The Vanishing U.S.-E.U. Employment Gap
Would a Stronger Renminbi Narrow the U.S.-China Trade Imbalance?
Thomas Klitgaard's CV The views expressed in the papers listed on this page are those of the author(s) and do not necessarily reflect the position of the Federal Reserve Bank of New York or the Federal Reserve System.