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
Subject to revision
Owyang, Michael T.; Chiodo, Abbigail J. (2002-06)
National Economic Trends , Issue Jun

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

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

Working Paper
Subjective probabilities: psychological evidence and economic applications
Owyang, Michael T.; Shimoji, Makoto; Guidolin, Massimo; Chiodo, Abbigail J. (2003)
Real-life decision makers are often forced to estimate the likelihood of uncertain future events. Usually, economists assume that agents behave as though they are fully rational, employing statistical rules to assess probabilities, and that they maximize expected utility. Psychological studies, however, have shown that people tend not to adhere to these rationality postulates. We review three rules of thumb taken from the psychology literature that people have been shown to rely on when assessing the likelihood of uncertain events. We construct a simple model of belief formation that ...
Working Papers , Paper 2003-009

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

Journal Article
Monetary policy: the whole country gets the same treatment, but results vary
Owyang, Michael T.; Chiodo, Abbigail J. (2003-01)
The target set by the FOMC for the federal funds rate applies to the entire country. But that single policy has a different impact on different parts of the country, depending on their concentration of interest-sensitive industries.
The Regional Economist , Issue Jan , Pages 12-13

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
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