
Owen F. Humpage
Economist Emeritus
- BA,
- Economics,
- University of Dayton,
- 1972
- MA,
- Economics,
- Miami University,
- 1974
- PhD,
- Economics,
- Case Western Reserve University,
- 1986
Owen F. Humpage is an economist emeritus of the Research Department of the Federal Reserve Bank of Cleveland. He is currently investigating the monetary, banking, and political developments that led to the creation of the Federal Reserve System. Before his retirement, he specialized in international finance. His research focusing on international aspects of central–bank policies has appeared in the International Journal of Central Banking, the International Journal of Finance and Economics, and the Journal of Money, Credit, and Banking. Dr. Humpage also coauthored a history of US foreign–exchange operations, Strained Relations: Foreign–Exchange Operations and Monetary Policy in the Twentieth Century with Michael D. Bordo and Anna J. Schwartz.
Dr. Humpage joined the Bank as an economic analyst in 1973. He was promoted to economist in 1978 and to senior economic advisor in 2006. He retired from the Bank in June 2018. Dr. Humpage has taught at Oberlin College, Case Western Reserve University, Cleveland State University, and Baldwin-Wallace University.
A native of Cleveland, Dr. Humpage received a BA in economics from the University of Dayton, an MS from Miami University in Oxford, Ohio, and a PhD from Case Western University.
- Strained Relations–US Monetary Policy and Foreign Exchange Operations in the Twentieth Century. With Michael D. Bordo and Anna J. Schwartz. Chicago–University of Chicago Press, 2015.
- Current Federal Reserve Policy under the Lens of Economic History (editor). New York–Cambridge University Press,2015.
- “The Federal Reserve as an Informed Foreign Exchange Trader–1973-1995.” With Michael D. Bordo and Anna J. Schwartz. International Journal of Central Banking, 2012 (March).
- “The Historical Origins of U.S. Exchange Market Intervention Policy.” With Michael D. Bordo and Anna J. Schwartz. International Journal of Finance and Economics, 2007, (April).
- “Option Prices, Exchange Market Intervention, and the Higher Moments Expectations Channel–A User’s Guide.” With Gabrielle Galati, Patrick Higgins, and William Melick. International Journal of Finance and Economics, 2007 (April).
- “The Myth of a Strong-Dollar Policy.” With Ben Craig. Cato Journal, 2003 (Winter).
- “Global Monetary Integration, Introduction–Context, Issues, and Contributions.” With Marco Del Negro, Alejandro Hernández-Delgado, and Elisabeth Huybens. Journal of Money, Credit, and Banking, 2001 (May).
- “Intervention as Information–A Survey.” With Richard T. Baillie and William P. Osterberg. Journal of International Financial Markets, Institutions, and Money, 2000 (December).
- “The United States as an Informed Foreign-Exchange Speculator.” Journal of International Financial Markets, Institutions, and Money, 2000 (December).
- “US Intervention–Assessing the Probability of Success.” Journal of Money, Credit, and Banking, 1999 (November).
- “Intervention and the Foreign Exchange Risk Premium–An Empirical Investigation of Daily Effects.” With William P. Osterberg. Global Finance Journal, 1992, 3(1)–23–50.
- “Avoiding Monetary Protectionism–The Role of Policy Coordination.” With W. Lee Hoskins. Cato Journal, 1990, 10(2).
Book Chapters
- “Intervention and the Dollar’s Decline.” In Foreign Exchange Intervention–Objectives and Effectiveness., edited by Silvester C. W. Eijffinger, 277–292. Edward Elgar–London 1999.
- “Book Review–Russian Currency and Finance, A Currency Board Approach to Reform.” Journal of Economic Literature, 1996 (December).
Other Articles
- “Currency Wars–Lessons from the US Experience–1973-95.” With Michael D. Bordo. Vox.eu, 2011 (October 3).
- “Will Special Drawing Rights Supplant the Dollar?” Vox.eu, 2009 (May 8).
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