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Working papers
Banknotes and
Economic Growth (with George Selgin)
Published work (some links below may
be restricted)
- Inflation
and the Distribution of Relative Prices: The Role of Productivity and
Money Supply Shocks, Journal
of Money, Credit and Banking 38(8), December 2006, 2159-98.
- Durable
Goods and the Forward-looking Theory of Consumption: Estimates Implied by
the Dynamic Effects of Money (with Todd B. Potts), Journal of Economic Dynamics and
Control, 30, August 2006, 1409-30.
- Estimating
and Identifying Vector Autoregressions Under Diagonality and Block
Exogeneity Restrictions, Economics
Letters 87, April 2005, 75-81.
- Cross-Country
Variation in the Liquidity Effect: The Role of Financial Markets
(with W. Douglas McMillin), The
Economic Journal, 114, October 2004, 890-915. (Data
appendix)
- Estimating
the Liquidity Effect in Post-reform Chile: Do Inflationary Expectations
Matter? (with Claudia Halabi), Journal of International Money and
Finance, 22, November 2003, 813-833.
- Comment
on 'A Vector Error-Correction Forecast Model of the U.S. Economy',Journal
of Macroeconomics, December 2002.
- The
Real Price of Housing and Money Supply Shocks: Time Series Evidence and
Theoretical Simulations, Journal of Housing Economics, March
2002.
- Real
Wages and Aggregate Demand Shocks: Contradictory Evidence from VARs
, Journal of Economics and Business, July/August 2002.
- The
Dynamic Effects of Money: Combining Short-Run and Long-Run Identifying
Restrictions using Bayesian Techniques, The Review of Economics and Statistics, November 1998,
588-99.
- Abnormal
Returns in the Acquisition Market: The Case of Bank Holding Companies,
1990-93 (with Scott Frame), Journal
of Financial Services Research, October 1998, 145-63.
- International
Evidence on Equity Prices, Interest Rates and Money, Journal of International Money and
Finance, June 1998, 377-406.
- Identifying
the Effects of Money Supply Shocks on Industry-Level Output, (with Clifton M. Loo), Journal of Macroeconomics, 20(3),
Summer 1998, 431-49.
- The
Check Tax: Fiscal Folly and the Great Monetary Contraction, (with George Selgin), Journal of Economic History, 57(4), December 1997,
859-78.
- The
Dynamic Responses of Crop and Livestock Prices to Money Supply Shocks: A
Bayesian Analysis using Long-Run Identifying Restrictions, (with
Jeffrey H. Dorfman), American
Journal of Agricultural Economics, August 1996.
- The
Liquidity Effect: Identifying Short-Run Interest Rate Dynamics using
Long-Run Restrictions (with George Selgin),
Journal of Macroeconomics,
17(3) Summer 1995, 387-404.
- Endogenous
Trading Volume and Momentum in Stock Return Volatility. (with
Christopher G. Lamoureux), Journal of Business and Economic
Statistics, 12(2), April 1994, 253-60.
- Buffer-Stock
Money: Interpreting Short-Run Dynamics Using Long-Run Restrictions. (with George Selgin), Journal of Money, Credit and Banking, 26(1), February 1994,
34-54.
- Forecasting
Stock Return Variance: Toward an Understanding of Stochastic Implied
Volatilities. (with Christopher G. Lamoureux), Review
of Financial Studies, 6(2), 1993, 293-326.
- The
Impact of Exchange Rate Volatility on International Trade: Reduced Form
Estimates Using the GARCH-in-Mean Model. (with Kenneth F. Kroner),
Journal of International Money and Finance, 12, June 1993,
298-318.
- Sources
of Fluctuations in Real and Nominal Exchange Rate, Review of Economics and Statistics,
74(3), August 1992, 530-39.
- International
Transmission of Aggregate Shocks Under Fixed and Flexible Exchange Rate
Regimes: United Kingdom, France and Germany, 1959 to 1985. (with
Faik Koray), Journal of International Money and
Finance, 9(4), December 1990, 402-23.
- Exchange
Rate Volatility and U.S. Multilateral Trade Flows. (with Faik
Koray), Journal of Macroeconomics 12(3), Summer 1990, 341-62.
- Persistence-in-Variance,
Structural Change and the GARCH Model. (with Christopher G.
Lamoureux), Journal of Business
and Economic Statistics, 8(2), April 1990, 225-34.
- Heteroskedasticity
in Stock Return Data: Volume Versus GARCH Effects. (with Christopher
G. Lamoureux), Journal of Finance,
45(1), March 1990, 221-29.
- Real
Exchange Rate Volatility and U.S. Bilateral Trade: A VAR Approach.
(with Faik Koray), Review of
Economics and Statistics, 71(4), November 1989, 708-12.
- Exchange
Rate Volatility and U.S. Monetary Policy: An ARCH Application. Journal of Money, Credit, and
Banking, 21(1), February 1989, 66-77.
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