Recent Faculty Publications by Field

Economic Theory

Arnott, Richard, "Information and Economic Efficiency," with Bruce Greenwald and Joseph Stiglitz, Information Economics and Policy, 6:77-88, 1994.

Konishi, Hideo, "Quasi-Linear Utility in a Discrete Choice Model," with Peter Fishburn, Economics Letters, 51, 197-200, 1996.

_____, "Equilibrium in a Model with Partial Rivalry," with Michel Le Breton and Shlomo Weber, Journal of Economic Theory, 72, 225-237, 1997.

_____, "Equivalence of Strong and Coalition-Proof Nash Equilibria in the Games without Spillovers," with Michel Le Breton and Shlomo Weber, Economic Theory, 9, 97-113, 1997.

_____, "Existence of Steady-State Equilibrium in an Overlapping Generations Model with Production," with Fernando Perera-Tallo, Economic Theory, 9, 529-537, 1997.

_____, "Group Formation in Games without Spillovers: A Noncooperative Game-Theoretical Approach," with Michel Le Breton and Shlomo Weber, in Carlo Carraro, ed., New Directions in the Economic Theory of the Environment, Cambridge: Cambridge University Press, 1997.

_____, "On Coalition-Proof Nash Equilibria in Common Agency Games without Spillovers," with Michel Le Breton and Shlomo Weber, Journal of Economic Theory, forthcoming.

Lewbel, Arthur, "Aggregation and Simple Dynamics," American Economic Review, 84, 905-918, 1994.

_____, "A Theorem on Portfolio Separation with General Preferences," with William Perraudin, Journal of Economic Theory, 65:2, 624-626, 1995.

_____, "Utility Functions and Global Regularity of Fractional Demand Systems," International Economic Review, 36:4, 927-945, 1995.

_____, "Aggregation Without Separability: A Generalized Composite Commodity Theorem," American Economic Review, 86:3, 524-543, 1996.

Segal, Uzi, "Dutch Book Arguments and Subjective Probability," with Kim C. Border, Economic Journal, 104, 71-75, 1994.

_____, "Stochastic Transitivity and Quadratic Representation Functions," Journal of Mathematical Psychology, 38, 102-114, 1994.

_____, "The Projective Independence Axiom," with S.H. Chew and L.G. Epstein, Economic Theory, 4, 189-215, 1994.

_____, "A Sufficient Condition for Additively Separable Functions," Journal of Mathematical Economics, 23, 295-303, 1994.

_____, "Dynamic Consistency Implies Approximate Expected Utility," with Kim C. Border, Journal of Economic Theory, 63, 170-188, 1994.

_____, "Observing Orders of Risk Aversion," with G. Loomes, Journal of Risk and Uncertainty, 9, 239-256, 1994.

_____, "How Complicated Are Betweenness Preferences?" with Zvi Safra, Journal of Mathematical Economics, 24, 371-381, 1995.

_____, "First-Order Risk Aversion and Non-Differentiability," with A. Spivak, Economic Theory, 9, 179-183, 1997.

_____, "Dynamic Consistency and Reference Points," Journal of Economic Theory, 72, 208-219, 1997.

_____, "Preferences over Solutions to the Bargaining Problems," with Kim C. Border, Econometrica, 65, 1-18, 1997.

_____, "Constant Risk Aversion," with Zvi Safra, Journal of Economic Theory, forthcoming.

_____, "Efficient Incentive Compatible Economies are Perfectly Competitive," with Louis Makowski and Joseph M. Ostroy, Journal of Economic Theory, forthcoming.

Macroeconomics

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

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

Ireland, Peter, "Supply-Side Economics and Endogenous Growth," Journal of Monetary Economics, 1994.

_____, "Customer Flows, Countercyclical Markups, and the Output Effects of Technology Shocks," Journal of Macroeconomics, 1998.

_____, "Technology Shocks and the Business Cycle: An Empirical Investigation," Journal of Economic Dynamics and Control, forthcoming.

Monacelli, Tommaso, "How Much (A)symmetry in Europe? Evidence from Industrial Sectors," with R. Helg, P. Manasse, and R. Rovelli, European Economic Review, 39:5, 1995.

Murphy, Robert, "Explaining the Term Structure of Interest Rates: A Panel Data Approach," with Scott Mayfield, Journal of Economics and Business, 1996.

_____, "The Long-run Relationship between Saving

and Investment: Stylized Fact or Fiction?" with John Barkoulas and Alpay Filiztekin, Applied Economics Letters, 1996.

_____, "Macroeconomic Policy Implications of Oil in Colombia," in Colombia: An Opening Economy, F. Gunter, ed., 1996.

_____, "Household Debt and Consumer Spending," Business Economics, 1998.

_____, "Accounting for the Decline in the NAIRU," Business Economics, 1999.

Ng, Serena, "The Risky Spread, Investment, and Monetary Policy Transmission: Evidence on the Role of Asymmetric Information," with Huntley Schaller, Review of Economics and Statistics, 78, 375-383, 1996.

_____, "Excess Sensitivity and Asymmetries in Consumption," with A. Lusardi and R. Garcia, Journal of Money, Credit and Banking, 29:2, 154-176, 1997.

Schiantarelli, Fabio, "Stock Market Volatility and Investment: Do Only Fundamentals Matter?" with M. Galeotti, Economica, 1994.

_____, "Investment Decisions and the Role of Tax Asymmetries: Evidence from Company Panel Data," with M. Galeotti and F. Jaramillo, Applied Financial Economics, 121-132, 1994.

_____, "Production Smoothing, Firms' Heterogeneity, and Financial Constraints: Evidence from a Panel of UK Firms," with A. Guariglia, Oxford Economic Papers, 1998.

_____, "Variable Markups in a Model with Adjustment Costs: Econometric Evidence for U.S. Industry," with M. Galeotti, Oxford Bulletin of Economics and Statistics, 60:2, 1998.

Econometrics

Bai, Jushan, "Weak Convergence of Sequential Empirical Processes of Residuals in ARMA Models," Annals of Statistics, 22, 2051-2061, 1994.

_____, "Least Squares Estimation of a Shift in Linear Processes," Journal of Time Series Analysis, 15, 453-470, 1994.

_____, "Least Absolute Deviation Estimation of a Shift," Econometric Theory, 11, 403-436, 1995.

_____, "Testing for Parameter Constancy in Linear Regressions: an Empirical Distribution Function Approach," Econometrica, 64, 597-622, 1996.

_____, "Estimating Multiple Breaks One at a Time," Econometric Theory, 13, 315-352, 1997.

_____, "Estimation of a Change Point in Multiple Regressions," Review of Economics and Statistics, 551-563, 1997.

_____, "Testing for and Estimation of Multiple Structural Changes," with Pierre Perron, Econometrica, 66, 47-79, 1998.

_____, "A Note on Spurious Breaks and Changes in Cointegrating Relationships," Econometric Theory, 14, 663-669, 1998.

_____, "Testing for and Dating Common Breaks in Stationary and Nonstationary Multiple Time Series," with Robin Lumsdaine and James Stock, Review of Economic Studies, 65, 395-432, 1998.

_____, "Multiple-Regime Regression with Least Absolute Deviation Estimation," Journal of Statistical Planning and Inference, 74, 103-134, 1998.

Belsley, David, "The Relative Power of Zero-Padding when Testing for Serial Correlation Using Artificial Regressions," Computational Economics, 9, 181-198, 1996.

_____, "Doing Monte Carlo Studies using Mathematica," in Economic and Financial Modeling with Mathematica, Vol. II, H. Varian, ed., New York: Springer-Verlag, 1996.

_____, "Generating Random Numbers in Mathematica," in Computational Approaches to Economic Problems, Hans Amman, Ber RŸstem, and Andrew Whinston, eds., New York: Springer-Verlag, 1996.

_____, "A Small-Sample Correction for Testing for g-th Order Serial Correlation with Artificial Regressions," Computational Economics, 10, 197-229, 1997.

_____, "Conditioning Diagnostics," invited entry for the Encyclopedia of Statistical Science: Upgrade Volume 1, 148-155, 1997.

_____, "Mathematica as an Environment for doing Economics and Econometrics," Computational Economics, forthcoming.

Gottschalk, Peter, "The Loss in Efficiency from Using Grouped Data to Estimate Coefficients on Group Level Variables," with Kathleen Lang, Computational Economics, 1996.

Lewbel, Arthur, "Consistent Nonparametric Hypothesis Testing with an Application to Slutsky Symmetry," Journal of Econometrics, 67, 379-401, 1995.

_____, "Tax Reform and Welfare Measurement: Do We Need Demand System Estimation?," with James Banks and Richard Blundell, Economic Journal, 106:438, 1227-1241, 1996.

_____, "Demand Estimation With Measurement Errors on the Left and Right Hand Side," Review of Economics and Statistics, 78:4, 718-725, 1996.

_____, "Semiparametric Estimation of Location and Other Discrete Choice Moments," Econometric Theory, 13:1, 32-51, 1997.

_____, "Consumer Demand Systems and Household Equivalence Scales," in Handbook of Applied Econometrics: Microeconomics, Hashem Pesaran and Peter Schmidt, eds., Oxford: Basil Blackwell, 1997.

_____, "Quadratic Engel Curves and Consumer Demand," with James Banks and Richard Blundell, Review of Economics and Statistics, 79, 527-539, 1997.

_____, "Constructing Instruments for Regressions with Measurement Error When No Additional Data are Available, with an Application to Patents and R&D," Econometrica, 65:5, 1201-1213, 1997.

_____, "Semiparametric Latent Variable Model Estimation with Endogenous or Mismeasured Regressors," Econometrica, 66:1, 105-121, 1998.

Ng, Serena, "Unit Root Tests in ARMA Models with Data Dependent Methods for the Truncation Lag," with P. Perron, Journal of the American Statistical Association, 429, 268-281, 1995.

_____, "Testing for Homogeneity in Demand Systems with Integrated Regressors," Journal of Applied Econometrics, 10, 147-164, 1995.

_____, "Testing for Unit Roots in Flow Data Sampled at Different Frequencies," Economics Letters, 47, 237-242, 1995.

_____, "Looking for Evidence of Speculative Stockholding in Commodity Markets," Journal of Economic Dynamics and Control, 20, 123-144, 1996.

_____, "The Exact Error of the Spectral Density at the Origin," with P. Perron, Journal of Time Series Analysis, 17, 379-408, 1996.

_____, "Useful Modifications to Unit Root Tests with Dependent Errors and their Local Asymptotic Properties," with P. Perron, Review of Economic Studies, 63, 435-464, 1996.

_____, "Estimation and Inference in Nearly Unbalanced Nearly Cointegrated Systems," with P. Perron, Journal of Econometrics, 79, 54-81, 1997.

_____, "Properties of the Autoregressive Spectral Density Estimator at Frequency Zero in ARIMA Processes," with P. Perron, Econometric Theory, 14, 560-603, 1998.

_____, "Parametric and Non-parametric Approaches to Price and Tax Policy Reform," with Angus Deaton, Journal of the American Statistical Association, 93, 900-909, 1998.

_____, "A Semi-Parametric Factor Model for Interest Rates and Spreads," with Eric Ghysels, Review of Economics and Statistics, forthcoming.

_____, "Testing for ARCH in the Presence of a Possibly Misspecified Mean," with R. L. Lumsdaine, Journal of Econometrics, forthcoming.

Development Economics

Cox, Donald, "Private Transfers and the Effectiveness of Public Income Redistribution in the Philippines," with Emmanuel Jimenez, in D. van de Walle and K. Nead, eds., Public Spending and the Poor: Theory and Evidence, Johns Hopkins University Press, 1995.

_____, "Family Safety Nets and Economic Transition: A Study of Worker Households in Poland," with Emmanuel Jimenez and Wlodek Okrasa, Review of Income and Wealth, 43:2, 129-167, 1997.

______, "Family Safety Nets During Economic Transition: A Study of Inter-household Transfers in Russia," with Zekeriya Eser and Emmanuel Jimenez, Poverty, Policy and Responses: The Russian Federation in Transition, J. Klugman, ed., Washington, DC: The World Bank, 1997.

______, "Motives for Private Transfers Over the Life-Cycle: An Analytical Framework and Evidence for Peru," with Zekeriya Eser and Emmanuel Jimenez, Journal of Development Economics, 55, 57-80, 1998.

______, "Risk Sharing and Private Transfers: What About Urban Households?" with Emmanuel Jimenez, Economic Development and Cultural Change, 46, 1998.

______, "Private Transfers in Vietnam," with James Fetzer and Emmanuel Jimenez, in Household Welfare and Vietnam's Transition to a Market Economy, D. Dollar, P. Glewwe and J. Litvack, eds., Washington, DC: The World Bank, forthcoming.

Marcouiller, Douglas, "The Black Hole of Graft: The Predatory State and the Informal Economy," with Leslie Young, American Economic Review, 85:3, 630-646,1995.

______, "Putting in Politics: A Review of Economic Models with Endogenous Determination of Policy," Forum for Social Economics, 25:1, 37-52, Fall 1995.

______, "The God of the Poor: Economics and Religion in Latin America," Forum for Social Economics, Spring 1996.

_____, "Formal Measures of the Informal-Sector Wage Gap in Mexico, El Salvador, and Peru," with Veronica Ru’z de Castilla and Christopher Woodruff, Economic Development and Cultural Change, 45:2, 367-392, January 1997.

Schiantarelli, Fabio, "The Effect of Financial Liberaliza-tion on Firms' Capital Structure and Investment Decisions: Evidence from a Panel of Indonesian Manufacturing Establishments, 1981-1988," with J. Harris and M. Siregar, World Bank Economic Review, January 1994.

______, "Capital Market Imperfections Before and After Financial Liberalization: An Euler Equation Approach to Panel Data for Ecuadorian Firms," with F. Jaramillo and A. Weiss, Journal of Development Economics, 51, 367-386,1996.

Health, Education and Welfare

Bai, Jushan, "The Impact of 1989 California Major Anti-Smoking Legislation on Cigarette Consumption: Three Years Later," with Tehwei Hu, Ted Keeler and Paul Barnett, Journal of Public Health Policy, 15, 26-36, 1994.

Gottschalk, Peter, "Welfare Dependence: Concepts, Measures and Trends," with Robert Moffitt, American Economic Review, May 1994.

_____, "Is the Correlation in Welfare Participation across Generations Spurious?," Journal of Public Economics, 63, 1996.

Murphy, Robert G., "The Relation Between a University's Football Record and the Size of Its Applicant Pool," with Greg Trandel, Economics of Education Review, 1994.

Quinn, Joseph, "Social Security Reform: Marginal or Fundamental Change?" Journal of the American Society of CLU & ChFC, July 1997.

______, "Economic Implications of an Aging Society," Review of Income and Wealth, 511-520, 1997.

______, "Criteria for Social Security Reform," in Prospects for Social Security Reform, Olivia Mitchell, Robert Myers and Howard Young, eds., Philadelphia: University of Pennsylvania Press, 1998.

Industrial Organization

Alger, Ingela, "Consumer Strategies Limiting the Monopolist's Power: Multiple and Joint Purchases", RAND Journal of Economics, Vol. 30, No. 4, 736-757, 1999.

Gollop, Frank M., "The Heterogeneity Index: A Quantitative Tool to Support Industrial Classification," Bureau of Economic Analysis Report (BE-42), Economic Classification Policy Committee. Washington, DC: U.S. Department of Commerce, May 1994.

_____, "The Pin Factory Revisited: Product Diversification and Productivity Growth," Review of Industrial Organization, 12, 317-334, 1997.

_____, "From Total Factor to Total Resource Productivity: An Application to Agriculture," with Gregory Swinand, American Journal of Agricultural Economics, 80, 1998.

_____, Productivity and U.S. Economic Growth (Greek language edition), with Dale Jorgenson and Barbara Fraumeni, Gutenberg University Press, 1999.

_____, "Patterns of State Productivity Growth in the U.S. Farm Sector: Linking State and Aggregate Models," with V. Eldon Ball, Alison Kelly-Hawke, and Gregory Swinand, American Journal of Agricultural Economics, 81, 164-179, 1999.

_____, "Total Resource Productivity: Accounting for Changing Environmental Quality," with Gregory Swinand, in New Developments in Productivity Analysis: Conference on Research in Income and Wealth, Edwin Dean, Michael Harper, and Charles Hulten, eds., forthcoming.

_____, "The Cost of Capital and the Measurement of Productivity," in Issues in Measuring Productivity Growth, Lawrence Lau, ed., forthcoming.

International Economics

Anderson, James, "Strategic Lobbying and Antidumping," Journal of Economic Integration, 1994.

_____, "The Theory of Protection," in Surveys of International Trade, D. Greenaway and L. Alan Winters, eds., Oxford: Basil Blackwell, 1994.

_____, "Measuring the Restrictiveness of Trade Policy," with Peter Neary, World Bank Economic Review, May 1994.

_____, "The Trade Restrictiveness of the Multi-Fibre Arrangement," with Peter Neary, World Bank Economic Review, May 1994.

_____, "Domestic Distortions and International Trade," with Peter Neary, International Economic Review, 36, 139-158, February 1995.

_____, "Tariff Index Theory," Review of International Economics, 3, 156-173, 1995.

_____, "A New Approach to Evaluating Trade Policy," with Peter Neary, Review of Economic Studies, 63, 107-125, 1996.

_____, "Effective Protection Redux," Journal of International Economics, 44, 21-44, 1998.

_____, "The Uruguay Round and Welfare in Some Distorted Agricultural Economies," Journal of Development Economics, 56, 393-410, 1998.

_____, "Trade Restrictiveness Benchmarks," Economic Journal, 108, 1111-1125, 1998.

______, "Trade Reform with a Government Budget Constraint," in Trade Policy and the Pacific Rim, J. Piggott and A. Woodland, eds., Macmillan for the International Economic Association, 1999.

_____, "Why Do Nations Trade (So Little)," Pacific Economic Review, forthcoming.

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

Konishi, Hideo, "Endogenous Trade Policy under FDI," with Kamal Saggi and Shlomo Weber, Journal of International Economics, forthcoming.

Labor Economics

Butcher, Kristin, "The Effect of Sibling Sex Composition on Women's Educational Attainment and Earnings," with Anne Case, Quarterly Journal of Economics, August 1994.

______, "Black Immigrants in the United States: A Comparison with Native Blacks and Other Immigrants," Industrial and Labor Relations Review, 47:2, 1994.

_____, "Immigration and the Wages and Employment of U.S.-born Workers in New Jersey," with Anne M. Piehl, Keys to Successful Immigration: Implications of the New Jersey Experience, Thomas Espenshade, ed., Urban Institute Press, 1997.

______, "Cross-City Evidence on the Relationship Between Immigration and Crime," with Anne Piehl, Journal of Policy Analysis and Management, 17:3, 1998.

______, "Recent Immigrants: Unexpected Implications for Crime and Incarceration," with Anne Piehl, Industrial and Labor Relations Review, 51:4, 1998.

______, "An Investigation of the Effect of Immigration on the Labor Market Outcomes of African-Americans," Help or Hindrance: the Economic Implications of Immigration for African-Americans, Daniel Hamermesh and Frank Bean, eds., New York: Russell Sage, 1998.

Cox, Donald, "Discussion of Davies' ÔExplaining Intergenerational Transfers,'" in Household and Family Economics, P. Menchik, ed., Boston: Kluwer Academic Publishers, 1996.

Gottschalk, Peter, "Growth in Earnings Instability in the U.S. Labor Market," with Robert Moffitt, Brookings Papers on Economic Activity, 1994.

_____, "The Impact of Cohort Composition on School Enrollments," with Rachel Connelly, Journal of Labor Economics, January 1995.

_____, America Unequal, with Sheldon Danziger, Harvard University Press and Russell Sage Foundation Press, 1995.

_____, "Inequality, Income Growth and Mobility: the Basic Facts," Journal of Economic Perspectives, Spring 1997.

_____, "Cross-National Comparisons of Earnings and Income Inequality," with Timothy Smeeding, Journal of Economic Literature, 35:2, 1997.

_____, "An Analysis of Sample Attrition in Panel Data: the Michigan Panel of Income Dynamics," with John Fitzgerald and Robert Moffitt, Journal of Human Resources, 33:2, 251-299, 1998.

_____, "An Analysis of the Impact of Sample Attrition on the Second Generation of Respondents in the Michigan Panel of Income Dynamics," with John Fitzgerald and Robert Moffitt, Journal of Human Resources, 33:2, 300-344, 1998.

______, "Family Income Mobility-How Much is There and Has It Changed?" with Sheldon Danziger, in The Inequality Paradox: Growth of Income Disparity, James Auerbach and Richard Belous, eds., Washington, DC: National Policy Association, 1998.

______, "The Impact of Changes in Public Employment on Low Wage Labor Markets," in Generating Jobs: How to Increase Demand for Less-Skilled Workers, edited with Richard Freeman, New York: Russell Sage Foundation Press, 1998.

_____, "Cross-National Differences in the Rise in Earnings InequalityÐMarket and Institutional Forces," with Mary Joyce, Review of Economics and Statistics, forthcoming.

McLaughlin, Francis, "The Replacement of the Knights of Labor by the International Longshoremen's Association in the Port of Boston," Historical Journal of Massachusetts, 26:1, 27-45, 1998.

_____, "The Boston Longshoremen's Strike of 1931," Historical Journal of Massachusetts, 26:2, 1998.

Quinn, Joseph, "Retirement and the Labor Force Participation of the Elderly," with Richard Burkhauser, in The Demography of Aging, Linda Martin and Samuel Preston, eds., Washington, DC: The National Academy Press, 1994.

______, "The Labour Market and Older Workers: United States," in The Labour Market and Older Workers, John Blackwell, ed., Social Policy Studies No. 17, Paris: OECD, 1995.

______, "Towards Pro-Work Policies and Programs for Older Americans," with Scott Bass and Richard Burkhauser, in Active and Aging: How Americans Over 55 Are Contributing to Society, Scott Bass, ed., New Haven: Yale University Press, 1995.

______, "The Roles of Bridge Jobs in the Retirement Transition: Gender, Race, and Ethnicity," with Michael Kozy, The Gerontologist, 36:3, 1996.

______, "Does Social Security Discourage Work?" with Jill Quadagno, in Retirement in the 21st Century, Eric Kingson and James Schulz, eds., New York: Oxford University Press, 1997.

______, "Cross-National Patterns of Labor Force Withdrawal," with Timothy Smeeding, in The State of Social Welfare, Peter Flora, Philip deJong, Julian le Grand and Jun-Young Kim, eds., Aldershot, UK: Ashgate Publishing Ltd., 1998.

______, "Employment and the Elderly," The Gerontologist, 1998.

______, "Retirement Patterns and Bridge Jobs in the 1990s," Employee Benefit Research Institute Policy Brief No. 206, Washington, DC:EBRI, 1999.

______, "New Paths to Retirement," in Forecasting Retirement Needs and Retirement Wealth, Brett Hammond, Olivia Mitchell and Anna Rappaport, eds., Philadelphia, PA: University of Pennsylvania Press, forthcoming.

Monetary Economics and Finance

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

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

______, "Fractional Differencing Modeling and Forecasting of Eurocurrency Deposit Rates," with John Barkoulas, Journal of Financial Research, 20:3, 355-372, 1997.

______, "Factor-GARCH Modeling of the Treasury Term Structure," with Basma Bekdache, in Computational Approaches to Economic Problems, A. Whinston, ed., Dordrecht: Kluwer Academic Publishers, 1997.

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

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

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

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

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

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

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

______, "Fractional Monetary Dynamics," with John Barkoulas and Mustafa Caglayan, Applied Economics, forthcoming.

______, "Long Memory or Structural Breaks: Can Either Explain Nonstationary Real Exchange Rates under the Current Float?" with John Barkoulas and Mustafa Caglayan, Journal of International Financial Markets, Institutions, and Money, forthcoming.

______, "Reexamining the Term Structure of Interest Rates and the Interwar Demand for Money," with Clifford F. Thies, Journal of Economics and Finance, forthcoming.

______, "Long Memory in the Greek Stock Market," with John Barkoulas and Nickolaos Travlos, Applied Financial Economics, forthcoming.

Ireland, Peter, "Money and Growth: An Alternative Approach," American Economic Review, 84:1, 47-65, 1994.

_____, "Endogenous Financial Innovation and the Demand for Money," Journal of Money, Credit, and Banking, 27:1, 107-123, 1995.

_____, "Liquidity Effects and Transactions Technologies," with Michael Dotsey, Journal of Money, Credit, and Banking, 27:4, pt. 2, 1441-1456, 1995.

_____, "The Welfare Cost of Inflation in General Equilibrium," with Michael Dotsey, Journal of Monetary Economics, 1996.

_____, "The Role of Countercyclical Monetary Policy," Journal of Political Economy, 104:4, 704-723, 1996.

_____, "The Optimal Monetary Response to Technology Shocks," Economic Inquiry, 1997.

_____, "Sustainable Monetary Policies," Journal of Economic Dynamics and Control, 22:1, 87-108, 1997.

_____, "Stopping Inflations, Big and Small," Journal of Money, Credit, and Banking, 29:4, pt. 2, 759-775, 1997.

_____, "A Small, Structural, Quarterly Model for Monetary Policy Evaluation," Carnegie-Rochester Conference Series on Public Policy, 47, 83-108, 1997.

_____, "Alternative Nominal Anchors," Canadian Journal of Economics, 1998.

_____, "Does the Time-Consistency Problem Explain the Behavior of Inflation in the United States?" Journal of Monetary Economics, forthcoming.

Peek, Joe, "Bank Lending and the Transmission of Monetary Policy," with Eric Rosengren, in Joe Peek and Eric Rosengren, eds., Is Bank Lending Important for the Transmission of Monetary Policy?, Federal Reserve Bank of Boston Conference Series No. 39, 47-68, 1995.

_____, "The Effects of Interstate Branching on Small Business Lending," with Eric Rosengren, in The New Tool Set: Assessing Innovations in Banking, Proceedings of the 31st Annual Conference on Bank Structure and Competition, Federal Reserve Bank of Chicago, 314-31, 1995.

_____, "Bank Regulation and the Credit Crunch," with Eric Rosengren, Journal of Banking and Finance, 679-92, June 1995.

_____, "The Capital Crunch: Neither a Borrower Nor a Lender Be," with Eric Rosengren, Journal of Money, Credit, and Banking, 625-38, August 1995.

_____, "Small Business Credit Availability: How Important Is Size of Lender?" with Eric Rosengren, in Anthony Saunders and Ingo Walter, eds., Universal Banking: Financial System Design Reconsidered, pp. 628-655, Irwin Professional Publishing, 1996.

______, "Will Legislated Early Intervention Prevent the Next Banking Crisis?" with Eric Rosengren, Southern Economic Journal, 268-280, 1997.

______, "The International Transmission of Financial Shocks: The Case of Japan," with Eric Rosengren, American Economic Review, 87, 495-505, 1997.

______, "Derivatives Activity at Troubled Banks," with Eric Rosengren, Journal of Financial Services Research, 287-302, 1997.

______, "Bank Consolidation and Small Business Lending: It's Not Just Bank Size That Matters," with Eric Rosengren, Journal of Banking and Finance, 22, 799-819, 1998.

_____, "Can Bank Supervisory Information Improve Forecasts of Variables Critical to Monetary Policy?" with Eric Rosengren and Geoffrey Tootell, in Payments Systems in the Global Economy: Risks and Opportunities, Proceedings of the 34th Annual Conference on Bank Structure and Competition, Federal Reserve Bank of Chicago, 422-430, 1998.

______, "Is Bank Supervision Central to Central Banking?" with Eric Rosengren and Geoffrey Tootell, Quarterly Journal of Economics, 1999.

______, "The Poor Performance of Foreign Bank Subsidiaries: Were the Problems Acquired or Created?" with Eric Rosengren and Faith Kasirye, Journal of Banking and Finance, 23, 579-604, 1999.

Schiantarelli, Fabio, "Financial Constraints and Investment: Methodological Issues and International Evidence," Oxford Review of Economic Policy, 70-89, 1996.

______, "Investment and Financial Constraints: A Switching Regression Approach for US Panel Data," with Xiaoqiang Hu, Review of Economics and Statistics, 80:3, 1998.

Public Finance

Arnott, Richard, "Reflections on Optimal Tax Theory," in Modern Public Finance: The Break-Musgrave-Packman Tradition, J. Quigley and E. Smolensky, eds., Cambridge University Press, 1994.

_____, "William Vickrey: Contributions to Public Policy," International Tax and Public Finance, 5, 93-113, 1998.

Cox, Donald, "The Connection Between Public Transfers and Private Interfamily Transfers," with George Jakubson, Journal of Public Economics, 57, 129-167, 1995.

Konishi, Hideo, "On a Corlett-Hague Rule in an Economy with Pure Profit," Economic Studies Quarterly, 45, 119-130, 1994.

_____, "A Pareto-Improving Commodity Tax Reform under a Smooth Nonlinear Income Tax," Journal of Public Economics, 56, 413-446, 1995.

_____, "Voting with Ballots and Feet: Existence of Equilibrium in a Local Public Good Economy," Journal of Economic Theory, 68, 480-509, 1996.

_____, "Equilibrium in Abstract Political Economies: with an Application to a Public Good Economy with Voting," Social Choice and Welfare, 13, 43-50, 1996.

_____, "Pure Strategy Nash Equilibrium in a Group Formation Game with Positive Externality," with Michel Le Breton and Shlomo Weber, Games and Economic Behavior, 21, 161-182, 1997.

_____, "Equilibrium in a Finite Local Public Goods Economy," with Michel Le Breton and Shlomo Weber, Journal of Economic Theory, 79, 224-244, 1998.

Kraus, Marvin, "Self-Financing of Congestible Facilities in a Growing Economy," with Richard Arnott, in Topics in Public Economics, David Pines, Efraim Sadka and Itzhak Zilcha, eds., Cambridge University Press, 161-184, 1998.

_____, "When Are Anonymous Congestion Charges Consistent with Marginal Cost Pricing?" with Richard Arnott, Journal of Public Economics, 67, 45-64, 1998.

Quinn, Joseph F., "Capitalism and Wealth Creation," in Wealth in Western Thought: The Case For and Against Riches, Paul Schervish, ed., Westport, CT: Greenwood Publishing Group, Inc., 1994.

______, Entitlements and the Federal Budget: Securing

Our Future, National Institute on Aging, Washington, D.C., May 1996.

Schiantarelli, Fabio, "Corporate Tax, Investment and the Role of Tax Asymmetries: Evidence from Company Panel Data," with M. Devereux and M. Keen, Journal of Public Economics, 395-418, 1994.

Tresch, Richard W., Principles of Economics, West Publishing Co., 1994.

_____, Public Finance, revised edition, McGraw-Hill, forthcoming.

Real Estate Economics

Arnott, Richard, "Time for Revisionism on Rent Control?" Journal of Economic Perspectives, 9, 99-120, 1995.

Murphy, Robert, "Reputation and the Real Estate Brokerage Contract," with Mak Arvin, Journal of Housing Economics, 1996.

_____,"Optimal Reputation and Selling Effort in Real Estate Brokerage Under Dynamic Conditions," with Mak Arvin, Kentucky Journal of Economics and Business, 1997.

Peek, Joe, "Bank Real Estate Lending and the New England Capital Crunch," with Eric Rosengren, Journal of the American Real Estate and Urban Economics Association, 22:1, 33-58, 1994.

_____, "Bank Regulatory Agreements and Real Estate Lending," with Eric Rosengren, Real Estate Economics, 55-73, 1996.

Urban Economics

Arnott, Richard, "The Chicago Prototype Housing Market Model with Tenure Choice," with Alex Anas, Journal of Housing Research, 5, 23-90, 1994.

______, "Information and Usage of Free-Access Congestible Facilities with Stochastic Capacity and Demand," with AndrŽ de Palma and Robin Lindsey, International Economic Review, 37, 181-203, 1996.

_____, "Taxi Travel Should be Subsidized," Journal of Urban Economics, 40, 316-333, 1996.

_____, "A Filtering Model with Steady-State Housing," with Ralph Braid, Regional Science and Urban Economics, 27, 514-546, 1997.

_____, "Urban Spatial Structure," with Alex Anas and Kenneth Small, Journal of Economic Literature, 36, 1426-1464, 1998.

_____, "Information and Stochastic Capacity and Demand in the Bottleneck Model," with AndrŽ de Palma and Robin Lindsey, European Economic Review, 43, 523-548, 1999.

_____, "A General Equilibrium Spatial Model of Housing Quality and Quantity," with R. Braid, R. Davidson and D. Pines, Regional Science and Urban Economics, forthcoming.

Kraus, Marvin, "Financing Capacity in the Bottleneck Model," with Richard Arnott, Journal of Urban Economics, 38, 272-290, 1995.

Last updated: 9 February 2000