On Monetary and Non-Monetary Interventions to Combat Corruption

On Monetary Stability and Monetary Reform

Access to Liquidity and Non-monetary Trade

This paper places non-monetary trade (NMT), a persistent growth of which in Russia in 1992-8 economists have struggled to explain, within the framework of the credit channel of the monetary policy. It shows that producers resorted to NMT responding to increases in the cost and unavailability of external funds. The paper traces the origin of structural breaks in the NMT trend and its transitory ...

Monetary Aggregates and Monetary Policy

This is a special conference for the Federal Reserve Bank of Boston, and for me personally. The role of monetary aggregates in monetary policy was intensely controversial when I joined the staff of the Board of Governors in May 1969. I was immediately asked to join the staff of the newly formed FOMC Committee on the Directive. Governor Sherman Maisel chaired that committee; the other two member...

Predicting Crowd Work Quality under Monetary Interventions

Work quality in crowdsourcing task sessions can change over time due to both internal factors, such as learning and boredom, and external factors like the provision of monetary interventions. Prior studies on crowd work quality have focused on characterizing the temporal behavior pattern as a result of the internal factors. In this paper, we propose to explicitly take the impact of external fac...

Monetary Interventions in Crowdsourcing Task Switching

With a large amount of tasks of various types, requesters in crowdsourcing platforms often bundle tasks of different types into a single working session. This creates a task switching setting, where workers need to shift between different cognitive tasks. We design and conduct an experiment on Amazon Mechanical Turk to study how occasionally presented performancecontingent monetary rewards, ref...