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Journal Article
The Ohio economy: a time series analysis
A time series methodology is used to understand the Ohio economy by assessing various indicators of economic activity in Ohio. These can be identified and quantified through simple methods applicable to other regional economies, as well.
Journal Article
Employment distortions under sticky wages and monetary policies to minimize them
A discussion of sticky nominal wages, showing that nominal income or price-level targeting policies result in smaller distortions than do policies that target output or money.
Working Paper
Monetary policy under rational expectations with multiperiod wage stickiness and an economy-wide credit market
A reconsideration of the role of monetary policy in a multiperiod sticky-wage model that incorporates rational expectations and displays the natural rate property.
Working Paper
The Ohio economy: using time series characteristics in forecasting
The premise of this study is that the regional economist can better understand the Ohio economy by studying the properties of important Ohio time series that can be identified and quantified through simple regression methods.
Journal Article
Stable inflation fosters sound economic decisions
An argument that monetary policy can meet concerns about output and employment indirectly by keeping inflation stable, thus allowing people to make sound production and consumption decisions.
Working Paper
A regional economic forecasting procedure applied to Texas
The presentation of a method for building a time series regional forecasting model for Texas that requires only ordinary least squares regressions to forecast the variables.
Journal Article
Procyclical real wages under nominal-wage contracts with productivity variations
A modification of existing sticky-wage models to account for the observed cyclical behavior of real wages by means of a model that introduces productivity factors into nominal-wage contracts.
Working Paper
Interest rate rules are infeasible and fail to complete macroeconomic models
A discussion of the circumstances under which interest rate rules are consistent with nominal determinacy in macroeconomic models.