Working Papers
Committing and Reneging: A Dynamic Model of Policy Regimes, (with Joseph A. Ritter) submitted to The European Economic Review, November, 2001.

Large Shareholders and Market Discipline in a Regulated Industry: A Clinical Study of Mellon Bank, (with James B. Thomson) being revised for resubmission to Accounting and Finance.

Banking and Commerce: A Liquidity Approach, (with Joao Santos) FRB Cleveland Working Paper 99-07.

Advice and Dissent: Coalition Power and FOMC voting, (with Owen Humpage), March, 1999.

Sharing with a Risk-Neutral Agent, Federal Reserve Bank of Cleveland Working Paper 9301, March 1993.

The Sources and Nature of Long-Term Memory in the Business Cycle (Joint with Andrew W. Lo), NBER Working Paper No. 2951, 1989.

The Optimal Non-Linear Bank, Rodney White Center Working Paper #22-87, July, 1987.

Differentiated Products and the Theory of Private Money, Rodney White Center Working Paper # 5-86, March 1986.