Search Results
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.
Journal Article
Identifying amenity and productivity cities using wage and rent differentials
An explanation of how regional wage and rent differentials can be used to classify metropolitan areas according to their amenity and productivity characteristics.
Journal Article
Stochastic interest rates in the aggregate life cycle of permanent income cum rational expectations model
An estimation of a life cycle cum rational expectations model that allows for uncertain future interest rates. The results show that the model is strongly rejected using post World War II U.S. data.
Journal Article
Can services be a source of export-led growth? Evidence from the fourth district
A discussion of the role played by service exports in sustaining a regional economy, with the contention that its growth reflects a natural and inevitable response to rising wealth.
Journal Article
Concentration and profitability in non-MSA banking markets
An examination of the relationship between bank profitability and concentration using recent data from a sample of institutions drawn from non-metropolitan statistical area counties in Ohio and Pennsylvania.
Journal Article
The short-run dynamics of long-run inflation policy
An examination of the short- and long-term implications of an inflation policy on real output, using a method that allows structural interpretation of a simple VAR applied to a macroeconomic system that includes real output and inflation.
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
Beauty and the bulls: the investment characteristics of paintings
An examination of the investment and consumption characteristics of the paintings market between 1971 and 1984, using the capital asset pricing model.
Journal Article
Disinflation, equity valuation, and investor rationality
An examination of the relationship between inflation and equity prices, concluding that equity prices respond rationally to such factors as real interest rates and risk.
Journal Article
An ebbing tide lowers all boats: monetary policy, inflation, and social justice
An argument that attempting to alleviate the burden of unemployment on the less affluent through expansionary monetary policy may hurt the clientele it is supposed to serve if, ultimately, the policy leads to higher long-run rates of inflation.