Economic Research Working Papers

Working papers from the Federal Reserve Bank of Dallas are preliminary drafts circulated for professional comment.

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1993 Working Papers

9342
On the Fluctuations Induced by Majority Voting
Gregory W. Huffman

9341
Are Net Discount Rates Stationary? Some Further Evidence
Joseph H. Haslag, Michael Nieswiadomy, and D. J. Slottje

9340
A Survey of Measurement Biases in Price Indexes
Mark A. Wynne and Fiona Sigalla

9339
Searching for a Stable M2-Demand Equation
Evan F. Koenig

9338
Exchange Rate Uncertainty and Economic Growth in Latin America
Darryl McLeod and John H. Welch

9337
Assessing the Economic Cost of Unilateral Oil Conservation
Stephen P.A. Brown and Hillard G. Huntington

9336
Income Taxes as Reciprocal Tariffs
W. Michael Cox, David M. Gould, and Roy J. Ruffin

9335
Problems of Testing Fiscal Solvency in High Inflation Economies: Evidence from Argentina, Brazil, and Mexico
John H. Welch

9334
The Inefficiency of Seigniorage from Required Reserves
Scott Freeman

9333
Wealth Effects, Heterogeneity and Dynamic Fiscal Policy
Zsolt Becsi

9332
Endogenous Growth and International Trade
Roy J. Ruffin

9331
The Credibility and Performance of Unilateral Target Zones: A Comparison of the Mexican and Chilean Cases
Raul A. Feliz and John H. Welch

9330
On the Existence of Nonoptimal Equilibria in Dynamic Stochastic Economies
Jeremy Greenwood and Gregory W. Huffman

9329
Retaliation, Liberalization, and Trade Wars: The Political Economy of Nonstrategic Trade Policy
David M. Gould and Graeme L. Woodbridge
Reprint of 9323 in error

9328
On the Optimality of Interest-Bearing Reserves in Economies of Overlapping Generations
Scott Freeman and Joseph Haslag

9327
Coal, Natural Gas and Oil Markets after World War II: What's Old, What's New?
Mine K. Yücel and Shengyi Guo

9326
Clearinghouse Banks and Banknote Over-issue
Scott Freeman

9325
Growth and Equity with Endogenous Human Capital: Taiwan's Economic Miracle Revisited
Maw-Lin Lee, Ben-Chieh Liu, and Ping Wang

9324
A General Two-Sector Model of Endogenous Growth with Human and Physical Capital: Balanced Growth and Transitional Dynamics
Eric W. Bond, Ping Wang,and Chong K. Yip

9323
Retaliation, Liberalization, and Trade Wars: The Political Economy of Nonstrategic Trade Policy
David M. Gould and Graeme L. Woodbridge

9322
Recessions and Recoveries in Real Business Cycle Models: Do Real Business Cycle Models Generate Cyclical Behavior?
Mark A. Wynne

9321
Should Bond Funds be Included in M2?
John V. Duca

9320
The Output Effects of Government Consumption: A Note
Mark A. Wynne

9319
Allocative Inefficiency and Local Government: Evidence Rejecting the Tiebout Hypothesis
Lori L. Taylor

9318
Why the Composite Index of Leading Indicators Doesn't Lead
Evan F. Koenig and Kenneth M. Emery

9317
An Alternative Neo-Classical Growth Model with Closed-Form Decision Rules
Gregory W. Huffman

9316
Price Stabilization, Output Stabilization and Coordinated Monetary Policy Actions
Joseph H. Haslag

9315
Output, Inflation, and Stabilization in a Small Open Economy: Evidence from Mexico
John H. Rogers and Ping Wang

9314
Technological Unemployment
W. Michael Cox

9313
Default Risk, Dollarization, and Currency Substitution in Mexico
William Gruben and John Welch

9312
Borrowing Constraints, Household Debt, and Racial Discrimination in Loan Markets
John V. Duca and Stuart Rosenthal

9311
Real Effects of Money and Welfare Costs of Inflation in an Endogenously Growing Economy with Transactions Costs
Ping Wang and Chong K. Yip

9310
Does It Matter How Monetary Policy Is Implemented?
Joseph H. Haslag and Scott Hein

9309
The Algebra of Price Stability
Nathan S. Balke and Kenneth M. Emery

9308
On Quantity Theory Restrictions and the Signalling Value of the Money Multiplier
Joseph Haslag

9307
Money Demand and Relative Prices During Episodes of Hyperinflation
Ellis W. Tallman and Ping Wang

9306
Constructing an Alternative Measure of Changes in Reserve Requirement Ratios
Joseph H. Haslag and Scott E. Hein

9305
Money, Output, and Income Velocity
Theodore Palivos and Ping Wang

9304
The Political Economy of School Reform
S. Grosskopf, K. Hayes, L. Taylor, and W. Weber

9303
A General Two Sector Model of Endogenous Growth with Human and Physical Capital
Eric Bond, Ping Wang, and Chong K. Yip

9302
The New Face of Latin America: Financial Flows, Markets, and Institutions in the 1990s
John Welch

9301
Human Capital Externalities, Trade, and Economic Growth
David Gould and Roy J. Ruffin