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Author:Hakkio, Craig S. 

Working Paper
Real and nominal exchange rates since 1919

Research Working Paper , Paper 90-03

Working Paper
Cointegration: how short is the long run?

Research Working Paper , Paper 90-08

Working Paper
Error correction, forward-looking behavior, and dynamic international money demand

Research Working Paper , Paper 86-01

Working Paper
The effect of marginal tax rates on GNP: 1931 to 1985

Research Working Paper , Paper 89-09

Working Paper
An equilibrium model of spot and forward exchange rates

Research Working Paper , Paper 90-02

Working Paper
Inflation targeting and private sector forecasts

Transparency is one of the biggest innovations in central bank policy of the past quarter century. Modern central bankers believe that they should be as clear about their objectives and actions as possible. However, is greater transparency always beneficial? Recent work suggests that when private agents have diverse sources of information, public information can cause them to overreact to the signals from the central bank, leading the economy to be too sensitive to common forecast errors. Greater transparency could be destabilizing. While this theoretical result has clear intuitive appeal, it ...
Research Working Paper , Paper RWP 10-01

Journal Article
Implications of recent U.S. energy trends for trade forecasts

The development of hydraulic fracturing and horizontal drilling has brought significant structural change to the energy sector, increasing energy production and decreasing net energy imports. Future changes in energy policy or technology could have even larger effects on energy exports and thus overall exports. As a result, distinguishing energy from non-energy components of trade becomes important for forecasts in both the near and longer term. Craig S. Hakkio and Jun Nie introduce models separating energy from the non-energy components of trade to examine how changes in energy production ...
Economic Review , Issue Q IV , Pages 29-51

Journal Article
Interest rates and exchange rates--what is the relationship?

Economic Review , Volume 71 , Issue Nov , Pages 33-43

Working Paper
Market efficiency and cointegration

Research Working Paper , Paper 87-05

Journal Article
PCE and CPI inflation differentials: converting inflation forecasts

The Federal Reserve recently announced it will begin to release quarterly inflation forecasts based on the Personal Consumption Expenditure Price Index. As Chairman Bernanke said, the PCE index is generally thought to be ?the single most comprehensive and theoretically compelling measure of consumer prices.? At the same time, Bernanke said that ?no single measure of inflation is perfect, and the Committee will continue to monitor a range of measures when forming its view about inflation prospects,? including the Consumer Price Index. ; The public and private sectors alike will want to be able ...
Economic Review , Volume 93 , Issue Q I , Pages 51-68



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