Boston College
Department of Economics
140 Commonwealth Avenue
Chestnut Hill, MA 02467-3806 USA

Phone/voicemail: +1+617-552-3673 or +1+617-901-6580
Fax: +1+617+552+2308
Email: baum@bc.edu

Education

Professional Experience

Teaching

Graduate and undergraduate econometrics, financial markets,
macroeconomic policy, monetary theory, computational economics

Fellowships, Honors, Awards

Professional Service

PUBLICATIONS

2006-

An Introduction to Modern Econometrics Using Stata, 2006. College Station: Stata Press.

"Political Patronage in Ukranian Banking", with Mustafa Caglayan, Dorothea Schäfer and Oleksandr Talavera, 2008. Economics of Transition, 16(3), 537-557.

"Uncertainty Determinants of Corporate Liquidity", with Mustafa Caglayan, Andreas Stephan and Oleksandr Talavera, 2008. Economic Modelling, forthcoming.

"The Effects of Uncertainty on the Leverage of Non-Financial Firms", with Andreas Stephan and Oleksandr Talavera, 2008. Economic Inquiry, forthcoming.

"Uncertainty Determinants of Corporate Investment", with Mustafa Caglayan and Oleksandr Talavera, 2008. Economics Letters, 98:3, 282-287.

"Enhanced routines for instrumental variables/generalized method of moments estimation and testing", with Mark E. Schaffer and Steven Stillman, 2007. Stata Journal, 7:4, 465-506.

"Monetary Policy in the Transition to a Zero Federal Deficit," with Meral Karasulu, in Inflation, Fiscal Policy and Central Banks, Leo N. Bartolotti, ed., pp. 161-178. Hauppage: Nova Science Publishers, 2007.

"The Impact of Macroeconomic Uncertainty on Non-Financial Firms' Demand for Liquidity", with Mustafa Caglayan, Neslihan Ozkan and Oleksandr Talavera, 2006. Review of Financial Economics, 15, 289-304.

"Long-Memory Forecasting of U.S. Monetary Indices," with John Barkoulas, 2006. Journal of Forecasting, 25, 291-302.

"Dynamics of Intra-EMS Interest Rate Linkages," with John Barkoulas, 2006. Journal of Money, Credit and Banking, 38, 469-482.

2001-2005

"Stata: The language of choice for time series analysis?", 2005. Stata Journal, 5:1, 46-63.

"Nonlinear Effects of Exchange Rate Volatility on the Volume of Bilateral Exports," with Mustafa Caglayan and Neslihan Ozkan, 2004. Journal of Applied Econometrics, 19(1), 1-23.

"A review of Stata 8.1 and its time series capabilities," 2004. International Journal of Forecasting, 20, 151-161.

"Persistent Dependence in Foreign Exchange Rates? A Reexamination," with John Barkoulas, Mustafa Caglayan and Atreya Chakraborty, 2004. Chapter 10 in Global Financial Markets: Issues and Strategies, D. Ghosh and M. Ariff, eds., Praeger Publishers, Westport CT.

"Sectoral Fluctuations in U.K. Firms' Investment Expenditures," with Mustafa Caglayan and Neslihan Ozkan, 2003. Economics Bulletin, 5, No. 13.

"Forward Premiums and Market Efficiency: Panel Unit-root Evidence from the Term Structure of Forward Premiums," with John Barkoulas and Atreya Chakraborty, 2003. Journal of Macroeconomics, 25(1), 109-122.

"The Forward Rate Unbiasedness Hypothesis Revisited: Evidence from a New Test," with Natalya Delcoure, John Barkoulas and Atreya Chakraborty, 2003. Global Finance Journal, 14, 83-93.

"Instrumental variables and GMM: Estimation and testing," with Mark E. Schaffer and Steven Stillman, 2003. Stata Journal, 3(1), 1-31.

"Nearest-Neighbor Forecasts of U.S. Interest Rates," with John Barkoulas and Atreya Chakraborty, 2003. International Journal of Banking and Finance, 1:1, 119-135.

"Facilitating Applied Economic Research with Stata." Chapter 7 (pp. 173-197) in Programming Languages and Systems in Computational Economics and Finance, Soren S. Nielsen, ed., 2002. Boston: Kluwer Academic Publishers.

"Exchange Rate Effects on the Volume and Variability of Trade Flows," with John Barkoulas and Mustafa Caglayan. Journal of International Money and Finance, 2002, 21:4, 481-496.

"Residual Diagnostics for Cross-Section Time Series Regression Models." The Stata Journal, 2001, 1:1, 101-104.

"Exchange Rate Uncertainty and Firm Profitability," with John Barkoulas and Mustafa Caglayan. Journal of Macroeconomics, 2001, 23:4, 565-576.

"Nonlinear Adjustment to Purchasing Power Parity in the post-Bretton Woods Era," with John Barkoulas and Mustafa Caglayan. Journal of International Money and Finance, 2001, 20:3, 379-399.

"Waves and Persistence in Merger and Acquisition Activity," with John T. Barkoulas and Atreya Chakraborty. Economics Letters, 2001, 70, 237-243.

1991-2000

"Long Memory in the Greek Stock Market," with John T. Barkoulas and Nickolaos Travlos. Applied Financial Economics, 2000, 10:2, 177-184.

"Persistence in International Inflation Rates," with John Barkoulas and Mustafa Caglayan. Southern Economic Journal, 1999, 65:4, 900-913.

"Long memory or structural breaks: Can either explain nonstationary real exchange rates under the current float?," with John T. Barkoulas and Mustafa Caglayan. Journal of International Financial Markets, Institutions, and Money, 1999, 9, 359-376.

"Fractional Monetary Dynamics," with John Barkoulas and Mustafa Caglayan. Applied Economics, 1999, 31, 1393-1400.

"Q, Cash Flow and Investment: An Econometric Critique," with Clifford F. Thies. Review of Quantitative Finance and Accounting, 1999, 12:35-47.

"Reexamining the Term Structure of Interest Rates and the Interwar Demand for Money," with Clifford F. Thies. Journal of Economics and Finance, 1998, 22:2-3, 5-12.

"Poison Pills, Optimal Contracting and the Market for Corporate Control : Evidence from Fortune 500 Firms," with A. Chakraborty. International Journal of Finance, 1998, 10:3, 1120-1138.

"Modelling Federal Reserve Discount Policy," with Meral Karasulu. Computational Economics, 1998, 11, 53-70.

"Fractional Dynamics in Japanese Financial Time Series," with John Barkoulas. Pacific-Basin Finance Journal, 1998, 6:1-2, 115-124.

"Stochastic Long Memory in Traded Goods Prices," with John Barkoulas and Gurkan Oguz. Applied Economics Letters, 1998, 5:135-138.

"Fractional Dynamics in a System of Long Term International Interest Rates," with John Barkoulas and Gurkan Oguz. International Journal of Finance, 1997, 9:2, 586-606.

"Long Memory and Forecasting in Euroyen Deposit Rates," with John Barkoulas. Financial Engineering and the Japanese Markets, 1997, 4:189-201.

"A Nonparametric Investigation of the 90-Day T-Bill Rate," with Joseph Onochie and John Barkoulas. Review of Financial Economics, 1997, 6:2, 187-198.

"Fractional Differencing Modeling and Forecasting of Eurocurrency Deposit Rates" with John Barkoulas. Journal of Financial Research, 1997, 20:3, 355-372. Reprinted in Financial Forecasting, Volume 2: Interest rates, exchange rates and volatility, Batchelor, Roy Dua, Pami, eds., Elgar Reference Collection. International Library of Critical Writings in Financial Economics, vol. 13. Cheltenham, U.K. and Northampton, Mass.: Elgar. p 40-57. 2003.

"A Model of Tied and Untied Foreign Aid: A Theoretical and Empirical Analysis," with B. Mak Arvin. Keio Economic Studies, 1997, 34:2, 71-79.

"Factor-GARCH Modeling of the Treasury Term Structure," with Basma Bekdache. In Computational Approaches to Economic Problems, H. Amman, B. Rustem and A. Whinston, eds., 1997. Dordrecht: Kluwer Academic Publishers.

"A Re-examination of the Fragility of Evidence from Cointegration-Based Tests of Foreign Exchange Market Efficiency," with John Barkoulas. Applied Financial Economics, 1997, 7:635-643.

"Long Term Dependence in Stock Returns," with John Barkoulas. Economics Letters, 1996, 53:3, 253-259.

"Time-Varying Risk Premia in the Foreign Currency Futures Basis," with John Barkoulas. Journal of Futures Markets, 1996, 16:7, 735-755.

"Tobin's Q, Intangible Capital, and Financial Policy," with Mark Klock and Clifford Thies. Journal of Economics and Business, 1996, 48:387-400.

"Agency Costs, Charter Amendments, and the Market for Corporate Control," with Atreya Chakraborty, in New Directions in Finance, D. Ghosh and S. Khaksari, eds., 1994. London: Routledge.

"Intensity of Anti-Takeover Defenses: The Empirical Evidence," with Atreya Chakraborty. In Computational Techniques for Econometrics and Economic Analysis, ed. D.A. Belsley., 1994. Dordrecht: Kluwer Academic Publishers.

"On the Construction of Monthly Term Structures of U.S. Interest Rates, 1919-1930," with Clifford Thies. Computer Science in Economics and Management, 1992, 5:221-246.

"Tobin's q and Measurement Error: Caveat Investigator," with Mark Klock and Clifford Thies, Journal of Economics and Business, 1991, 43: 241-252.

1981-1990

"Analyzing the Stability of Demand-for-Money Equations via Bounded-Influence Estimation Techniques," with Marilena Furno, Journal of Money, Credit and Banking, 1990, 22:4, 465-477.

"Structural Change and Economic Development in Southern Italy," with J. Munro and G. Schachter, Journal of Development Studies, 1990, 27:1, 54-71.

Review of Feedback: A New Framework for Economic Policy, by D.A. Kendrick, Journal of Economic Literature, 1990, 28:87-88.

"The Term Structure of Interest Rates and the Demand for Money during the Great Depression," with Clifford Thies, Southern Economic Journal, 1989, 56:490-498.

"Computational Aspects of Robust Estimators for Linear Regressions," with Marilena Furno, Computer Science in Economics and Management, 1989, 2: 221-237.

"Dynamic Adjustment of Firms' Capital Structures in a Varying-Risk Environment," with Joanne M. Doyle, Journal of Economic Dynamics and Control, 1988, 12:127-134.

Edited conference volume, Journal of Economic Dynamics and Control, 1988, 12:3. Contributions presented to the Ninth Annual Conference on Economic Dynamics and Control, Boston College, MA.

"The Effects of Price- and Output-Stabilising Policies in an Interdependent World Economy," Journal of Economic Dynamics and Control 1987, 11:195-200. Reprinted in Pierro Sraffa; Critical Assessments, Volume 3, John Cunningham, ed. 1995. London: Routledge.

"Coordination of Large Macroeconomies' Policies and the Stability of Small Economies," Journal of Economic Dynamics and Control. 1986, 10:21-25.

"Changes in the Balance Sheet of the U.S. Manufacturing Sector, 1926-1977," with John H. Ciccolo, in Corporate Capital Structures in the United States, B. Friedman, ed., 1985. NBER/University of Chicago Press.

"The Evaluation of Historical Policy via Optimal Control Techniques," in Applied Decision Analysis and Economic Behaviour, A.J. Hughes-Hallett, ed., 1984. Martinus Nijhoff.

"The Effects of an Activist Policy on Macroeconomic Stability," with E.P. Howrey, in Proceedings of the Fourth IFAC/IFORS Conference on the Modeling and Control of National Economies, T. Basar, ed., 1984. Pergamon Press.

"An Application of the MRIO System for Italy to Measure the Relationship of Structural Change and Economic Development," with G. Schachter, J. Munro and E. Shea, Chapter 3 (pp. 95-124) in A Multiregional Input-Output System for Italy, G. Schachter and F. Pilloton, eds., 1983. Libra: Rome.

"Activist Policy and Macroeconomic Instability," with E. Philip Howrey, Economics Letters 1983, 11:1/2, 43-48.

"Evaluating Macroeconomic Policy: Optimal Control Solutions versus Suboptimal Alternatives," in Springer-Verlag Lecture Notes in Economics and Mathematical Systems No. 308, J. Gruber, ed., 1983.

"Forecasting the Effects of Policies Instigated by DIDMCA," with E.P. Shea, in Proceedings of the Conference on Bank Structure and Competition, Federal Reserve Bank of Chicago, 1982.

"The Effects of Federal Loan Guarantees on Small Entrepreneurs: Focus on Commercialization of Electric and Hybrid Vehicles," in Conference on the Economics of Federal Credit Activity, Congressional Budget Office, U.S. Congress, 1981.

1973-1980

"On the Sensitivity of Optimal Control Solutions," Journal of Economic Dynamics and Control, 1980, 2:205-208.

"Evidence on Structural Change in the Demand for Aggregate U.S. Imports and Exports," with Robert M. Stern and Mark Greene, Journal of Political Economy, 1979, 87:179-192. Unrevised version reproduced in Hearing before the Subcommittee on International Finance of the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, 1979.

"A Logit Analysis of the Factor Content of West German Foreign Trade," with David Coe, Weltwirtschaftliches Archiv, 1978, 114:328-338.

"An Empirical Analysis of the Composition of Manufacturing Employment in the Industrialized Countries," with Edward Leamer and Robert M. Stern, European Economic Review, 1977.

"A Multi-Country Simulation of the Employment and Exchange-Rate Effects of Post Kennedy-Round Tariff Reductions," with Alan Deardorff and Robert M. Stern, in Akrasanee et.al., Trade and Employment in Asia and the Pacific, 1977. Honolulu: University Press of Hawaii.

"A Financial Input-Output System for the United States in 1972," with William B. Stronge, Proceedings of the Business and Economics Section of the American Statistical Association, 1975.

"Alternative Forecasting Models for the U.S. Flow-of-Funds," Proceedings of the Business and Economics Section of the American Statistical Association, 1974.

"Financial Portfolio Patterns in the U.S. Economy, 1961-1972," Proceedings of the Business and Economics Section of the American Statistical Association, 1973.

TECHNICAL PUBLICATIONS

"Stata Tip 63: Modeling proportions," Stata Journal, 2008, 8:2, 299-303.

"Ukrainische Banken: Politische Patronage von Bedeutung", with Mustafa Caglayan, Dorothea Schäfer and Oleksandr Talavera, Wochenbericht Nr. 23/2007, DIW Berlin, pp, 367-371.

"Stata Tip 45: Getting those data into shape", with Nicholas J. Cox, Stata Journal, 2007, 7:2, 268-271.

"Stata Tip 40: Taking care of business...", Stata Journal, 2007, 7:1, 137-139.

"Stata Tip 38: Testing for groupwise heteroskedasticity", Stata Journal, 2006, 6:4, 590-592.

"Stata Tip 37: And the last shall be first", Stata Journal, 2006, 6:4, 588-589.

"Evaluation of Madison Park PLATO Training on August 2000 BPS City Algebra Test Achievement," ERIC Document Reproduction Service No. ED 470 287, http://eric.ed.gov.

"Multivariate portmanteau (Q) test for white noise," with Richard Sperling. Stata Technical Bulletin, 2001, 60, 39-41.

"A test for long-range dependence in a time series," with Tairi Room. Stata Technical Bulletin, 2001, 60, 37-39.

"Tests for stationarity of a time series: Update," with Richard Sperling. Stata Technical Bulletin, 2000, 58, 35-36.

"Tests for long memory in a time series," with Vince Wiggins. Stata Technical Bulletin, 2000, 57, 39-44.

"Tests for stationarity of a time series." Stata Technical Bulletin, 2000, 57, 36-39.

"Utility for time series data." Stata Technical Bulletin, 2000, 57, 2-4.

"Compacting time series data." Stata Technical Bulletin, 2000, 57, 44-45.

"Test for autoregressive conditional heteroskedasticity in regression error distribution," with Vince Wiggins. Stata Technical Bulletin, 2000, 54, 13-14.

"Tests for serial correlation in regression error distribution," with Vince Wiggins. Stata Technical Bulletin, 2000, 54, 14-15.

"Tests for heteroskedasticity in regression error distribution," with Nicholas J. Cox and Vince Wiggins. Stata Technical Bulletin, 2000, 54, 15-17.

"Metadata for user-written contributions to the Stata programming language: extensions," with Nicholas J. Cox. Stata Technical Bulletin, 2000, 54, 21-22.

"Metadata for user-written contributions to the Stata programming language," with Nicholas J. Cox. Stata Technical Bulletin, 1999, 52, 10-12.

SPONSORED RESEARCH

Effects of Exchange Rate Volatility on the Volume and Volatility of Bilateral Exports: The Case for Developing Countries, British Academy, GBP 3,605, funded 1 January 2007-31 December 2008. Mustafa Caglayan and Christopher F Baum, co-investigators.

Finanz- und Kapitalstrukturmanagement vor dem Hintergrund differierender Finanzsysteme - Eine vergleichende Analyse des Verhaltens deutscher und US-amerikanischer Firmen (Finance and Capital Structure Management in Distinct Financial Systems - a Comparative Analysis of the Behaviour of German and US-American Firms), Fritz Thyssen Stiftung, EUR 102,000, funded 1 October 2006- 31 December 2007. Dorothea Schäfer and Christopher F Baum, co-principal investigators.

The Effects of Exchange Rate Movements on International Trade Flows: A Bivariate GARCH Approach, British Academy, GBP 2,723, funded 1 January 2005-30 June 2006. Mustafa Caglayan and Christopher F Baum, co-applicants.

PRESENTATIONS

2006-

"On the Sensitivity of the Volume and Volatility of Bilateral Trade Flows to Exchange Rate Volatility", 2008, with Mustafa Caglayan; Heriot-Watt University, Scotland.

"Securities fraud class actions and corporate governance: New evidence on the role of merit", 2008, Conference on the Future of Securities Fraud Litigation, Claremont McKenna College, Claremont, CA and University of York, UK.

"Advances in microeconometrics and finance using instrumental variables", 2008, University of Nottingham, UK and University of Sheffield, UK.

"Instrumental variables: Overview and advances", 2007, Thirteenth United Kingdom Stata Users Group Meeting, London, and Rensselaer Polytechnic Institute, Troy, NY.

"Powerful new tools for time series analysis," 2007, Sixth North American Stata Users Group Meeting, Boston.

"Should you become a Stata programmer?", 2007, Fifth German Stata Users Group Conference, Essen, Germany.

"Firm Investment and Financial Frictions," 2007, with Mustafa Caglayan and Oleksandr Talavera; University of Strathclyde.

"The Effects of Short-Term Liabilities on Profitability: The Case of Germany", 2006; 38th Annual Conference of the Money, Macro and Finance Research Group, University of York.

"Time series filtering techniques in Stata," 2006; Fifth North American Stata Users Group Meeting, Boston and Twelfth United Kingdom Stata Users Group Meeting, London.

"Firm Investment and Financial Frictions," 2006, with Mustafa Caglayan and Oleksandr Talavera; 13th International Conference on Panel Data, University of Cambridge.

"Effects of Exchange Rate Volatility on the Volume and Volatility of Bilateral Exports", 2006, with Mustafa Caglayan; Forecasting Financial Markets Conference, Aix en Provence.

"The Effects of Industry-Level Uncertainty on Cash Holdings: The Case of Germany", 2006, with Dorothea Schäfer and Oleksandr Talavera; Quantitative Finance Seminar, Humboldt University, Berlin, and 13th International Conference on Panel Data, University of Cambridge.

"Uncertainty Determinants of Corporate Liquidity", 2006, with Mustafa Caglayan, Andreas Stephan and Oleksandr Talavera; seminars at University of York and University of Nottingham.

2001-2005

"cron, perl and Stata: automated production and presentation of a business-daily index", 2005, with Atreya Chakraborty; Fourth North American Stata Users Group Meetings, Boston.

"Discussion of Chen, Higgins, Mason", 2005, DIW Berlin/Journal of Financial Intermediation/Federal Reserve Bank of Philadelphia Conference on Bank Relationships, Credit Extension, and the Macroeconomy, Berlin.

"A Little Bit of Stata Programming Goes a Long Way," 2005: invited lecture at Eleventh UK Stata Users Group meetings, London.

"Re-examining the Transmission of Monetary Policy: What More Do a Million Observations Have to Say", 2004, with Mustafa Caglayan and Neslihan Ozkan; presented at 2004 Money, Macro and Finance Research Group Meetings, London.

"The Second Moments Matter: The Response of Bank Lending Behavior to Macroeconomic Uncertainty", 2004, with Mustafa Caglayan and Neslihan Ozkan; presented at Tenth International Conference of Society for Computational Economics, Amsterdam.

"Rolling Regressions with Stata," 2004: Third North American Stata Users Group Meeting, Boston.

"Topics in Time Series Modeling with Stata," 2004: invited lecture at Tenth UK Stata Users Group meetings, London.

"The Impact of Macroeconomic Uncertainty on Cash Holdings for Non-Financial Firms," 2003, with Mustafa Caglayan, Neslihan Ozkan and Oleksandr Talavera; presented at the Economic Research Centre, Deutsche Bundesbank (2005); Department of Economics, University of Leicester; Management School, University of Liverpool; Department of Economics, University College Dublin; Department of Economics, University of Tennessee-Knoxville; the Ninth International Conference of Society for Computational Economics, Seattle; and Department of Economics, University of Connecticut.

"The Impact of Macroeconomic Uncertainty on Bank Lending Behavior," 2002, with Mustafa Caglayan and Neslihan Ozkan; presented at Eighth International Conference of Society for Computational Economics, Aix en Provence; the 57th European Meeting of the Econometric Society, Venice; at the Universities of Zaragoza, Oklahoma, Bristol, and Liverpool; at the Graduate School of International Economics and Finance, Brandeis University; at Bilkent University, Ankara; and Sabançi University, Istanbul.

"Dynamics of Intra-EMS Interest Rate Linkages," 2002, with John Barkoulas: presented at Department of Economics and Accounting, University of Liverpool; Department of Economics, Heriot-Watt University, Edinburgh; City University Business School, London; and Eighth International Conference of Society for Computational Economics, Aix en Provence.

"Efficient Management of Multi-Frequency Panel Data with Stata," 2001: presented at North American Stata User Group Meeting, Boston, MA, and Seventh UK Stata Users' Group Meeting, London.

"Exchange Rate Effects on the Volume of Trade Flows: An Empirical Analysis employing High-Frequency Data," 2001, with Mustafa Caglayan and Neslihan Ozkan: presented at 2nd CeNDEF Workshop on Economic Dynamics, Faculty of Economics and Econometrics, University of Amsterdam, Department of Economics and Accounting, University of Liverpool, and Seventh International Conference on Computing in Economics and Finance, Yale University.

1991-2000

"Enhancing access to statistical software tools and datasets for research and instruction," 2000: presented at the Sixth UK Stata Users' Group Meeting, London.

"Enhancing Information Flow in Economics via Linked Metadata Archives," 1999: invited presentation at 53rd AUBER (Association for University Business and Economic Research) Fall Conference, Little Rock, Arkansas.

"The Fisher Equation in the Context of Fractional Cointegration," with Basma Bekdache, 1999: presented at the Fifth International Conference on Computing in Economics and Finance (CEF'99), Boston College.

"Temporal Aggregation and the Behavior of Bond Term Premia: An Empirical Investigation," with Basma Bekdache, 1998: presented at the Fourth International Conference on Computing in Economics and Finance (CEFES'98), University of Cambridge.

"Nonlinear Adjustment to Purchasing Power Parity in the post-Bretton Woods Era," with John T. Barkoulas and Mustafa Cagyalan, 1998: presented at the Fourth International Conference on Computing in Economics and Finance (CEFES'98), University of Cambridge.

"The Ex Ante Predictive Accuracy of Alternative Models of the Term Structure of Interest Rates," with Basma Bekdache, 1997: presented at the Third International Conference on Computing in Economics and Finance, Stanford.

"Credible Disinflation Policy in a Dynamic Setting," with Meral Karasulu, 1997: presented at the Third International Conference on Computing in Economics and Finance, Stanford.

"Monetary Policy in the Transition to a Zero Federal Deficit," with Meral Karasulu, 1997: presented at the Association of Private Enterprise Education Conference, Washington, DC.

"Essential Nonparametric Prediction of U.S. Interest Rates," with John Barkoulas, 1996: presented at the European Meetings of the Econometric Society, Istanbul.

"An Alternative Strategy for Estimation of a Nonlinear Model of the Term Structure of Interest Rates," with O. Liu, 1994: presented at the European Meetings of the Econometric Society, Maastricht, The Netherlands; revised version presented at 1994 Meetings of the Financial Management Association, St. Louis and 1995 Allied Social Science Association Meetings, Washington, DC.

"Comparing Alternative Models of the Term Structure of Interest Rates," with B. Bekdache, 1994: presented at the IFAC Workshop on Computing in Economics and Finance, Amsterdam, and the 1995 Annual Meetings of the Financial Management Association, New York.

"The Dynamics of Predation: Are Golden Parachutes and Shark Repellents in Shareholders' Interests?," with A. Chakraborty, 1994: presented at the IFAC Workshop on Computing in Economics and Finance, Amsterdam, Netherlands.

"An Alternative Nonlinear General Equilibrium Model of the Term Structure of Interest Rates," with O. Liu, 1993: presented at the 1993 Meetings of the Society for Economic Dynamics and Control, Nafplio, Greece.

"Tobin's Q and Financial Policy Revisited," with M. Klock and C. Thies, 1992: presented at the International Symposium on Economic Modelling, Göteborg, August 1992.

"Reexamining the Term Structure of Interest Rates and the Interwar Demand for Money," with C. Thies, 1992.

"Anti-Takeover Amendments, Managerial Entrenchment and Shareholders' Interests," with A. Chakraborty, 1992: presented at the Financial Management Association, San Francisco, October 1992, and the SEDC Meetings, Montréal, June 1992.

1981-1990

"P*: Anchor for the Price Level, or Will-o'-the-Wisp?," with M. Furno, 1990: presented at the ASSA Meetings, Washington, DC.

"The Pricing of Railroad Bonds, 1925-1930," with C. Thies, 1990: presented at the Eastern Finance Association Meetings, Charleston, SC.

"Testing the Stability and Reliability of U.S. Money Demand Functions," 1989: presented at the IFAC/SEDC conference, Heriot-Watt University, Edinburgh.

"The Effects of Capital Market Imperfections on Manufacturing Firms' Capital Investment and Financing Behavior," 1989: presented at the Eastern Economic Association conference, Baltimore.

"Diagnosis of Time-Series Regression Equations via Bounded-Influence Instrumental-Variables Estimation," with M. Furno, 1988: presented at the TIMS/ORSA Joint Conference, Denver.

"Modeling Firms' Capital Structure Decisions: A Microanalytic Perspective," with J. Doyle, 1988: presented at the TIMS/ORSA Joint Conference, Washington, DC.

"Bounded-Influence Estimation Techniques for the Analysis of Structural Macro-econometric Models," with M. Furno, 1988: presented at the International Symposium on Economic Modelling Conference, London.

"Bounded-Influence Instrumental Variable Estimation Techniques for the Diagnosis of Time-Series Regression Equations," with M. Furno, 1988: presented at the Tenth Annual Conference on Economic Dynamics and Control, Tempe, AZ.

"Modeling Corporate Balance Sheet Adjustment Behavior, 1977-1983," with J. Doyle, 1987: presented at the Meetings of the Eastern Economic Association, Washington, DC.

"Modeling the Treasury Yield Curve," presented at the 1986 Meetings of the Eastern Economic Association, Philadelphia.

"The Term Structure of Interest Rates and the Stability of the Interwar Demand for Money," with C. Thies, August 1985: presented at the Fifth World Congress of the Econometric Society, Cambridge, MA.

"Evaluating Structural Change and Economic Development," with J. Munro and G. Schachter: presented at the 1985 Meetings of the Western Regional Science Association, San Diego.

"Micro Analysis of Corporate Debt Behavior, 1953-77," with C. Thies: presented at the 1985 Meetings of the Eastern Economic Association, Pittsburgh.

"The Term Structure of Interest Rates in the U.S. and the Demand for Money: Interwar Evidence," with C. Thies, March 1984: presented at the 1984 Meetings of the Eastern Economic Association, New York.

"Assessing Industrial Structure for Italian Regional Development," with G. Schachter, J. Munro, and E. Shea, June 1983: presented at the 1983 Meetings of the Canadian Regional Science Association, Vancouver.

"Assessing Financial Innovation in Response to the 1980 Monetary Reform Act: An Information Theoretic Approach," with E.P. Shea, Dec. 1981, presented at the Meetings of the American Economic Association.

"An Examination of Postwar U.S. Stabilization Policy: Monetary and Fiscal Policy in an Accelerationist World," with E.P. Howrey, June 1981, presented at the Third Economics and Control Conference, Society for Economic Dynamics and Control, Technical University of Denmark.

1975-1980

"On Evaluating the Effects of Stabilization Policies," with E.P. Howrey, June 1979, Western Economic Association Meetings, Las Vegas.

"The Evaluation of Historical Macroeconomic Policies via Suboptimal Control," May 1979, Eastern Economic Association Meetings, Boston.

"Applications of Optimal Control Theory to Macroeconomic Stabilization Policy," August 1977, unpublished Ph.D. dissertation, The University of Michigan.

"Forecasting Flow-of-Funds Quarterly Data with the Preferred Portfolio Pattern Model," with W. Stronge, Nov. 1975, ORSA/TIMS Conference, Las Vegas.

"Forecasting Aggregate Financial Flows," with W. Stronge, April 1975, ORSA/TIMS Conference, Chicago.

PH.D. DISSERTATION SUPERVISION

Kamer Karakurum Özdemir, "A Test of the Credibility-Enhancing Role of the IMF: The Case of Mexico," 2003.

Neslihan Ozkan, "Three Essays on Capital Investment and Finance," 1998.

S. Gurcan Gulen, "A Multifaceted Analysis of the World Crude Oil Market," 1997.

Meral Karasulu, "Essays on the European Exchange Rate Target Zone Mechanism," 1996.

Van Newby, "Essays on Exchange Rates," 1995 (co-director).

John Barkoulas, "Essays on International Capital Mobility, the Efficiency Hypothesis and Risk Premia in the Currency Futures Markets," 1994.

Basma Bekdache, "Essays on the Term Structure of Interest Rates," 1994.

Olin Liu, "An Alternative Nonlinear General Equilibrium Model of the Term Structure of Interest Rates," 1994.

Xiaoqiang Hu, "Three Essays on Financial Economics and International Economics," 1994 (co-director).

Joanne Doyle, "An Empirical Investigation into Internal Adjustment Costs in Neoclassical Investment Models", 1993.

Charles Anderson, "Applications of Integration, Cointegration, and Seasonal Differencing to Corporate Earnings Models," 1990.

Serhan Ciftcioglu, "The Macroeconomic Stability of a Small Open Economy under Fixed and Flexible Rates," 1988.

Marilena Furno, "Robust Methods for Macroeconomic Models," 1988.

Carol Ann Luttrell, "The Redistribution of Wage Income Caused by Price Level Changes," 1987.

James P. Lesage, "A Rational Expectations Model of Local Payroll Tax Regimes," 1983.

Clifford F. Thies, "New Estimates of the Term Structure of Interest Rates: 1920-1939," 1982.

Pallavi Seth, "Monopsony Power and Asymmetric Information: Microeconometrics Applied to Health Care", 2008.

Darrel Barbato, "Essays in Applied Microeconometrics," 2007.

Yoto Yotov, "Labor Market Imperfections, Political Pressure, and Trade Patterns", 2007.

Margarita Sapozhnikov, "Three Essays in Applied Microeconomics", 2007.

Todd Prono, "GARCH-Based Identification of Endogenous Regressors", 2007.

Emmanuel Lartey, "Capital Inflows, Dutch Disease Effects and Monetary Policy", 2006.

Paola Zerilli, "Essays in Asset Pricing", 2006.

Oleksandr Talavera, "Essays on the Effects of Uncertainty on Corporate Capital Structure", Europa-Universität Viadrina, Frankfurt an der Oder, 2005.

Mariano Kulish, "Money, Interest Rates and Monetary Policy", 2005.

Francesco Zanetti, "Non-Walrasian Labor Markets, Business Cycles, and Monetary and Fiscal Policies," 2005.

Petia Petrova, "Three Essays on the Applied Microeconomics of Households," 2005.

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Mustafa Caglayan, "Essays in Macroeconomics," 1997.

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John S. Jordan, "Managers' Personal Compensation of their Firm's Shares: Is It Compensation for Risk-Taking? A Case Study of the Banking Industry," 1997.

Atreya Chakraborty, "Agency Cost, Charter Amendments and the Market for Corporate Control," 1994.

Abdikarim Farah, "Essays in Macroeconomics and Finance," 1993.

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Mark Kazarosian, "Precautionary Savings-A Panel Study," 1991.

E. Murat Ucer, "Essays on the Monetary Origins of Price Fluctuations in the Unofficial Market for Foreign Exchange in Turkey," 1991.

Kathryn Dorman, "Asset Risk and the Fisher Effect," 1988.

Gary S. Fissel, "Essays in International Finance and Macroeconomics," 1988.

Tullio Jappelli, "Essays on Consumption, Liquidity Constraints and Fiscal Policy," 1988.

James C. Cosgrove, "The Dissaving Behavior of the Retired Elderly," 1987.

John P. O'Keefe, "Firm Size, Transactions Costs and Returns on Common Equity," 1987.

Phyllis W. Isley, "Estimation of the Fisher Effect on the Term Structure of Interest Rates Employing a Term Structure of Inflationary Expectations," University of New Hampshire, 1986.

Patricia Lasonde, "The Heckscher-Ohlin Theorem and the Factor Content of Trade: Empirical Evidence," 1984.

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Harshana Kasseeah, "Financing Decisions and Financial Constraints: Evidence from the UK and China," University of Nottingham, 2008.

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