Working Papers
"Fiscal Shocks, the Trade Balance, and the Exchange Rate," with F. Koray.
Publications
"Nominal GDP versus Price Level Targeting: An Empirical Evaluation," Journal of Economics and Business, May-June 2020, with J. S. Fackler. Appendix.
"An Evaluation of Nominal GDP Versus Price-Level Targeting," Mercatus Center Policy Brief, May 2019, with James S. Fackler.
"Bernanke versus Taylor: A Post Mortem," Applied Economics, 2015, with J. S. Fackler.
"Monetary Policy in 2008 and Beyond," The Handbook of Major Events in Economic History (2013, Edward Elgar Publishing), ed. by Randall Parker and Robert Whaples.
"Inflation Forecast Targeting: An Alternative Approach to Estimating the Inflation-Output Variability Tradeoff," Southern Economic Journal, October 2011, with J. S. Fackler.
"Cross-Country Variation in the Liquidity Effect: The Role of Financial Markets," The Economic Journal, 114 (October 2004), 890-915, with W. D. Lastrapes.
"Estimating the Effects of Monetary Policy Shocks: Does Lag Structure Matter," Applied Economics, 35 (September 2003), 1515-1526, with K. Kim.
"Is the Economics Major Dying, and, If So, Can Changes in Teaching Technology and Course Content Save It?" Southern Economic Journal, 70 (July 2003), 206-209.
"Evaluating Monetary Policy Options," Southern Economic Journal, 68 (April 2002), 794-810, with J.S. Fackler.
"The Effects of Monetary Policy Shocks: Comparing Contemporaneous Versus Long-Run Identifying Restrictions," Southern Economic Journal, 67 (January 2001), 618-36.
"Monetary Shocks, the Exchange Rate, and the Trade Balance,"Journal of International Money and Finance, 18 (December 1999), 925-940, with F. Koray.
"Lag Length Selection In Vector Autoregressive Models: Symmetric and Asymmetric Lags," Applied Economics, 31 (April 1999), 517-524, with O. Ozcicek.
"Historical Decomposition of Aggregate Demand and Supply Shocks in a Small Macro Model," Southern Economic Journal, 64 (January 1998), 648-664, with J. S. Fackler.
"Monetary Policy and Bank Portfolios," Journal of Economics and Business, 48 (October 1996), 315-35.
"A Multivariate Time Series Analysis of the United States Aggregate Production Function," Empirical Economics, 19 (Number 4 1994), 659-73, with D.J. Smyth.
"Foreign Output and Price Shocks and Macroeconomic Activity in Korea," International Review of Economics and Finance, 3 (Number 4 1994), 443-55, with J. Jin.
"An Empirical Analysis of Oil Price Shocks During the Interwar Period," Economic Inquiry, 32 (July 1994), 486-97, with R. E. Parker.
"The Effect of Proximate Determinants of the Money Supply During the Interwar Period." Southern Economic Journal, 60 (January 1994), 622-33, with T.R. Beard.
"Bank Portfolio Composition and Macroeconomic Activity," Journal of Economics and Business, 45 (May 1993), 111-27.
"The Macroeconomic Effects of Government Debt in Korea," Applied Economics, 25 (January 1993), 35-42, with J. Jin.
"The Nonmonetary Effects of Financial Factors During the Interwar Period," Economic Inquiry, 31 (January 1993), 87-99, with P. Raynold and T.R. Beard.
"The Impact of Federal Government Expenditures in the 1930s," Southern Economic Journal, 58 (July 1991), 15-28, with P. Raynold and T.R. Beard.
"The Impact of Budget Deficits in the Interwar Period," Journal of Macroeconomics, 13 (Spring 1991), 239-66, with T.R. Beard.
"Federal Debt, Tax-Adjusted q, and Macroeconomic Activity," Journal of Money, Credit, and Banking, 23 (February 1991), 100-109, with R.E. Parker.
"The Velocity of M1 in the 1980s: Evidence from a Multivariate Time Series Model," Southern Economic Journal, 57 (January 1991), 634-48.
"Are Monetary Services Indexes Superior to Conventional Monetary Aggregates as Intermediate Targets?" Applied Economics, 22 (December 1990), 1751-59, with J.S. Fackler and J.L.
Silver.
"Does Government Debt Affect the Exchange Rate? An Empirical Analysis of the U.S.-Canadian Exchange Rate," Journal of Economics and Business, 42 (November 1990), 279-88, with F. Koray.
"Federal Debt and Macroeconomic Activity," Southern Economic Journal, 55 (April 1989), 994-1003, with J.S. Fackler.
"An Empirical Analysis of the Macroeconomic Effects of Government Debt: Evidence from
Canada," Applied Economics, 21 (January 1989), 113-4, with F. Koray.
"Do Budget Deficits Matter? Some Pre-World War II Evidence," Journal of Economics and Business, 40 (November 1988), 295-308, with T.R. Beard.
"Money Growth Volatility and the Macroeconomy," Journal of Money, Credit, and Banking, 20 (August 1988, Part 1), 319-35.
"The Impact of Anticipated and Unanticipated Policy Actions on the Stock Market," Applied Economics, 20 (March 1988), 377-84, with G.S. Laumas.
"The Ricardian Equivalence Hypothesis: Some Canadian Evidence," Economics Letters, 25
(1 1987), with F. Koray.
"Monetary Aggregates as a Target Variable: Reply," Southern Economic Journal, 54 (July 1987), 232-34, with J.S. Fackler.
"Economic Policy and Consumption and Investment Expenditures: An Empirical Analysis," Applied Economics, 19 (February 1987), 167-77, with G.S. Laumas.
"Federal Deficits and Short-Term Interest Rates," Journal of Macroeconomics, 8 (Fall 1986), 403-22.
"Federal Deficits, Macrostabilization Goals, and Federal Reserve Behavior," Economic Inquiry, 24 (April 1986), 257-69.
"Monetary Policy, Fiscal Policy, and Investment Spending: An Empirical Analysis," Southern Economic Journal, 52 (January 1986), 744-806, with A.R. Chowdhury, and J.S. Fackler.
"Government Budgets and Money: How Are They Related?" Journal of Economic Education, 17 (Spring 1986), 107-19, with T.R. Beard.
"A Theoretical Analysis of the Fiscal Policy-Money Supply Relationship," Review of Business and Economic Research, 21 (Spring 1986), 18-32, with T.R. Beard.
"Money, Government Debt, q, and Investment," Journal of Macroeconomics, 7 (Winter 1985),
19-37.
"Anticipated Fiscal Policy and Real Output," Review of Economics and Statistics, 66 (August 1984), 468-71, with G.S. Laumas.
"Monetary vs. Credit Aggregates: An Evaluation of Monetary Policy Targets," Southern Economic Journal, 50 (January 1984), 711-23, with J.S. Fackler.
"Specification and Stability of the Goldfeld Money Demand Function," Journal of Macroeconomics, 5 (Fall 1983), 437-59, with J.S. Fackler.
"Deficits, Money, and Inflation--Comment," Journal of Monetary Economics, 10 (September 1982), 273-77, with T.R. Beard.
"The Impact of Fiscal Policy on the Money Supply in the U.S.: Theory and Empirical Evidence," Rivista Internazionale de Scienze Economiche e Commerciali, 28 (October/November 1981), 941-58, with T.R. Beard.
"A Dynamic Analysis of the Impact of Fiscal Policy on the Money Supply," Journal of Money, Credit, and Banking, 13 (May 1981), 221-26.
"The Short-Run Impact of Fiscal Policy on the Money Supply," Southern Economic Journal, 47 (July 1980), 122-35, with T.R. Beard.