Working Paper
Are TIPS really tax disadvantaged? Rethinking the tax treatment of U.S. Treasury Inflation Indexed Securities
Mercer, Jeffrey M.; Hein, Scott E. (2003)
In 1997 the U.S. Treasury introduced Inflation Indexed (or Protected) Securities with substantial promotional fanfare. Yet, due in part to what some in the finance profession have described as a "tax disadvantage" placed upon TIPS, many are questioning whether they should appeal to a wide audience. Some, in fact, advise holding TIPS only in tax-deferred accounts. In this paper, the authors develop a framework that allows us to demonstrate that the tax treatment of TIPS is trivially different from that of conventional Treasury securities. Utilizing an after-tax valuation approach, they ...
FRB Atlanta Working Paper , Paper 2003-9

Working Paper
Predicting the money multiplier: forecasts from component and aggregate models
Hein, Scott E.; Hafer, Rik (1983)
Working Papers , Paper 1983-012

Journal Article
Monetary policy and recent business-cycle experience
Haslag, Joseph H.; Hein, Scott E.; Hafer, Rik (1994-07)
Some critics of recent monetary policy have focused on slow M2 growth, claiming that the Federal Reserve is too interested in price stability and is forsaking its growth mandate. Others criticize the Fed for achieving price stability too cautiously and urge the adoption of a rule that seeks to eliminate inflation more quickly. ; R. W. Hafer, Joseph Haslag and Scott Hein examine two alternative monetary policies and gauge their expected impacts on economic activity. Both policies are simulated over the period 198792. One policy, a GNP-targeting rule similar to one proposed by Bennett McCallum, ...
Economic and Financial Policy Review , Issue Q III , Pages 14-28

Journal Article
Seasonal adjustment of the money supply
Ott, Mack; Hein, Scott E. (1983-11)
Review , Volume 65 , Issue Nov , Pages 16-25

Working Paper
Evidence on the two monetary base measures and economic activity
Haslag, Joseph H.; Hein, Scott E. (1988)
Working Papers , Paper 8810

Journal Article
The wayward money supply: a post-mortem of 1982
Hein, Scott E.; Hafer, Rik (1983-03)
Review , Volume 65 , Issue Mar , Pages 17-25

Journal Article
Deficits and inflation
Hein, Scott E. (1981-03)
Review , Volume 63 , Issue Mar , Pages 3-10

Working Paper
Comparing Multi-State Kalman Filter and ARIMA forecasts: an application to the money multiplier
Kool, Clemens J. M.; Hein, Scott E.; Hafer, Rik (1985)
This paper derives one-month ahead forecasts of the money (M I) multiplier using the Multi-State Kalman Filter and Box-Jenkins ARIMA methods. A comparison of the forecasts far the period 1980-82 reveals that the Multi-State Kalman Filter procedure was generally superior to the ARIMA procedure In terms of most summary statistics. The superiority is traced to the turbulent period of 1980-81. This paper also compares aggregate and component forecasts of the multiplier. The aggregate Multi-State Kalman Filter was the most accurate in predicting the one-month ahead money multiplier.
Working Papers , Paper 1985-001

Journal Article
On the uniqueness of community banks
MacDonald, Steven Scott; Koch, Timothy W.; Hein, Scott E. (2005-01-01)
To the public, all banks seem alike. But banking insiders make important distinctions between community banks and all other banks. Policymakers worry that community banks? unique characteristics threaten their survival in the face of industry consolidation. However, despite dramatic regulatory and technological changes in the industry in the past two decades, community banks have not only survived but often prospered. ; This article explores the differences between community banks and larger banks to discover what makes community banks unique. Large banks engage primarily in transactional ...
Economic Review , Volume 90 , Issue Q 1 , Pages 15-36

Journal Article
The dynamics and estimation of short-run money demand
Hein, Scott E.; Hafer, Rik (1980-03)
Review , Volume 62 , Issue Mar , Pages 26-35