Working Paper
Nonlinear hedonics and the search for school district quality
Owyang, Michael T.; Hernandez-Murillo, Ruben; Chiodo, Abbigail J. (2005)
A school?s quality is often inferred from the premium a parent must pay to buy a house associated with a better school. Isolating this effect, however, is difficult because better schools also tend to be located in nicer neighborhoods and, therefore, cost more for reasons other than school quality. Although recent work has been relatively successful in isolating this effect, it is limited to the extent that it assumes a linear effect of schools on housing prices. We examine this relationship and find that the premium for school quality is nonlinear: There is a premium for houses in better ...
Working Papers , Paper 2003-039

Journal Article
Financial aid and college choice
Owyang, Michael T.; Chiodo, Abbigail J. (2003-08)
National Economic Trends , Issue Aug

Journal Article
Low unemployment: old dogs or new tricks?
Owyang, Michael T.; Chiodo, Abbigail J. (2001-10)
Technology usually gets the credit for the unusually low unemployment of the not-too-distant past. But baby boomers, with all their years' experience, also played a role.
The Regional Economist , Issue Oct , Pages 10-11

Journal Article
Putting off retirement: the rise of the 401(k)
Owyang, Michael T.; Chiodo, Abbigail J. (2002-03)
National Economic Trends , Issue Mar

Journal Article
Symmetric inflation risk
Owyang, Michael T.; Chiodo, Abbigail J. (2003-04)
Monetary Trends , Issue Apr

Journal Article
Marriage, motherhood and money: how do women's life decisions influence their wages?
Owyang, Michael T.; Chiodo, Abbigail J. (2003-04)
Becoming a wife. Becoming a mother. Read how these critical life decisions affect the salary women take home.
The Regional Economist , Issue Apr , Pages 4-9

Journal Article
A case study of a currency crisis: the Russian default of 1998
Owyang, Michael T.; Chiodo, Abbigail J. (2002-11)
This paper uses a currency crisis framework to analyze the currency devaluation and debt default of post-Soviet Russia in August 1998. The authors show that even though the Russian economy recorded positive growth immediately preceding the default, the atmosphere was reflective of an impending crisis. The authors then consider the symptoms of a currency crisis?specifically public and private debt responsibilities, devaluation expectations, and contractionary monetary policy?and show that they were present in Russia at that time. Three generations of currency crisis models are reviewed, ...
Review , Volume 84 , Issue Nov , Pages 7-18

Journal Article
For love or money: why married men make more
Owyang, Michael T.; Chiodo, Abbigail J. (2002-04)
Whether it's because of employer bias or their own hard work, men who've married are paid more than those who've never said "I do."
The Regional Economist , Issue Apr , Pages 10-11

Journal Article
Nonlinear effects of school quality on house prices
Hernandez-Murillo, Ruben; Chiodo, Abbigail J.; Owyang, Michael T. (2010-05)
We reexamine the relationship between quality of public schools and house prices and find it to be nonlinear. Unlike most studies in the literature, we find that the price premium parents must pay to buy a house in an area associated with a better school increases as school quality increases. This is true even after controlling for neighborhood characteristics, such as the racial composition of neighborhoods, which is also capitalized into house prices. In contrast to previous studies that use the boundary discontinuity approach, we find that the price premium from school quality remains ...
Review , Volume 92 , Issue May , Pages 185-204

Working Paper
Duration dependence in monetary policy: international evidence
Owyang, Michael T.; Chiodo, Abbigail J. (2002)
We study the duration of monetary regimes in a simple neo-classical Phillips curve model. The model is an extension of Owyang (2001) and Owyang and Ramey (2001). In this paper, we consider the role of the duration of inflationary regimes on the average inflation rate in an international cross-section. We find that inflationary regimes in certain countries are duration dependent but anti-inflationary regimes are not. In addition, we find that countries with high central banker turnover switch from inflationary to anti-inflationary with lower probability.
Working Papers , Paper 2002-021