Economic Research and Data

Economic Review

1985 1986next

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

Full PDF version of this issue of the Economic Review 1,254K


1985 Quarter 2 | vol. 21, No. 2



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

Full PDF version of this issue of the Economic Review 885K


1985 Quarter 3 | vol. 21, No. 3



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

Full PDF version of this issue of the Economic Review 1,164K


1985 Quarter 4 | vol. 21, No. 4



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

Full PDF version of this issue of the Economic Review 1,283K


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