Working Paper 8612 top
Designing Monetary Policy under Rational Expectations: Analysis and Practical Implications
by James G. Hoehn
An investigation of the ways in which rational expectations theory fundamentally changes monetary policy analysis and an attempt to generalize the implications of such analysis.
PDF file 709K
Working Paper 8611 top
Errors in Recorded Security Prices and the Turn-of-the Year Effect
by James B. Thomson
A study that concludes recorded security price errors are potential sources of misspecification in joint tests of the capital asset pricing model and market efficiency.
PDF file 570K
Working Paper 8610 top
Estimating the Contribution of Urban Public Infrastructure to Regional Growth
by Randall W. Eberts
An estimation of components of public capital stock for 38 metropolitan areas from 1953 to 1981, using the perpetual inventory method. These series are used to estimate the effect of public capital stock on regional manufacturing production.
PDF file 446K
Working Paper 8609 top
The Use of Market Information in Pricing Deposit Insurance
by James B. Thomson
An argument that information about the value of the deposit-insurance guarantee is available from market-generated data.
PDF file 349K
Working Paper 8608 top
Intervention, Exchange-Rate Volatility, and the Stable Paretian Distribution
by Michael L. Bagshaw and Owen F. Humpage
A look at whether the United States' decision to cease intervention after March 1981 had a perceptible influence on the day-to-day behavior of exchange rates, using the stable paretian distribution.
PDF file 497K
Working Paper 8607 top
Productivity Growth and the Decline of Manufacturing in Large Metropolitan Areas: 1959-78
by Patricia E. Beeson
An examination of the role of productivity differences in explaining the decline of manufacturing activity in large metropolitan areas relative to the rest of the country, with special attention given to the decline of the large metropolitan areas of the Manufacturing Belt.
PDF file 393K
Working Paper 8606 top
The Birth of the Competitive Market in the Steel Industry
by Philip Israilevich
A regional analysis of the steel industry with emphasis on the economic performance of minimills and integrated mills.
PDF file 465K
Working Paper 8605 top
Rival Stock Price Reactions to Large BHC Acquisition Announcements: Evidence of Linked Oligopoly
by Gary N. Whalen and Richard L. Mugel
An examination of whether multimarket contacts among geographically diversified bank holding companies adversely affect competition.
PDF file 380K
Working Paper 8604 top
The Default Premium and Corporate Bond Experience
by Jerome S. Fons
A study that represents the first effort to tie together the differential returns required by holders of low-rated coporate bonds and the actual default experiences of these issues.
PDF file 521K
Working Paper 8603 top
Patterns and Determinants of Inefficiency in State Manufacturing
by Patricia Beeson and Stephen Husted
A study of whether states differ in terms of technical inefficiency in their manufacturing sectors.
PDF file 560K
Working Paper 8602 top
Comparison of Univariate ARIMA, Multivariate ARIMA and Vector Autoregression Forecasting
by Michael L. Bagshaw
A comparison of the forecasting abilities of univariate ARIMA, multivariate ARIMA, and VAR, and examination of whether series should be differenced before estimating models for forecasting purposes.
PDF file 899K
Working Paper 8601 top
Employment and Unemployment Effects of Unions
by Edward Montgomery
An examination of the effect of unions on the aggregate level of employment in the economy.
PDF file 571K
1985 1986 1987
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