1985 Quarter 1 | vol. 21, No. 1
Beauty and the bulls: the investment characteristics of paintings.
by Michael F. Bryan
An examination of the investment and consumption characteristics of the paintings market between 1971 and 1984, using the capital asset pricing model.
PDF file 631K
The reserve market and the information content of M1 announcements.
by William T. Gavin and Nicholas V. Karamouzis
An analysis of the effect that monetary control arrangements have on the information content of the money stock announcements in the market for bank reserves.
PDF file 812K
1985 Quarter 2 | vol. 21, No. 2top
Vector autoregressive forecasts of recession and recovery: is less more?
by Gordon Schlegel
A look at the pros and cons of VAR models, and consideration of how lag lengths affect out-of-sample forecasts.
PDF file 622K
Revenue sharing and local public expenditure: old questions, new answers.
by Paul Gary Wyckoff
A review of the economic literature on the impact of revenue sharing on local government expenditures, a critique of previous explanations of this pattern, and a summary of a new bureaucratic theory.
PDF file 463K
1985 Quarter 3 | vol. 21, No. 3top
The impact of bank holding company consolidation: evidence from shareholder returns.
by Gary Whalen
A look at the expected net benefits of bank holding company consolidation by examining the behavior of the daily stock returns of a sample of 21 BHCs, using the event study technique.
PDF file 492K
The national debt: a secular perspective.
by John B. Carlson and E.J. Stevens
An examination of the various factors that have determined the level and growth of the federal debt over the past 40 years, with some perspective on future levels of federal debt.
PDF file 565K
The Ohio economy: a time series analysis.
by James G. Hoehn
A time series methodology is used to understand the Ohio economy by assessing various indicators of economic activity in Ohio. These can be identified and quantified through simple methods applicable to other regional economies, as well.
PDF file 469K
1985 Quarter 4 | vol. 21, No. 4top
Stochastic interest rates in the aggregate life cycle of permanent income cum rational expectations model.
by K.J. Kowalewski
An estimation of a life cycle cum rational expectations model that allows for uncertain future interest rates. The results show that the model is strongly rejected using post World War II U.S. data.
PDF file 728K
New Classical and New Keynesian models of business cycles.
by Eric Kades
A presentation of simple, but complete, New Classical and New Keynesian models of the economy and business cycles that illustrate the central force behind fluctuations in each. Theoretical and statistical arguments for and against each model are discussed.
PDF file 780K
1985 1986 | top