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Details about Rik Hafer

Phone:618-659-2747
Postal address:Department of Economics and Finance Box 1102 Southern Illinois University Edwardsville Edwardsville, IL 62026
Workplace:Economics Department, Southern Illinois University, (more information at EDIRC)

Access statistics for papers by Rik Hafer.

Last updated 2014-06-04. Update your information in the RePEc Author Service.

Short-id: pha252


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Working Papers

2003

  1. The Effect of Monetary Policy on Economic Output
    Working Papers, Department of Economics, University of Missouri Downloads

2001

  1. Bank failures in banking panics: Risky banks or road kill?
    Working Paper, Federal Reserve Bank of Atlanta Downloads View citations (3)
  2. Detrending and the money-output link: International evidence
    ZEI Working Papers, ZEI - Center for European Integration Studies, University of Bonn Downloads View citations (1)
    See also Journal Article in Southern Economic Journal (2002)

1994

  1. Monetary base rules: the currency caveat
    Working Papers, Federal Reserve Bank of Dallas Downloads

1991

  1. Evaluating monetary base targeting rules
    Research Paper, Federal Reserve Bank of Dallas Downloads View citations (6)

1990

  1. THE DEMAND FOR MONEY IN THE UNITED STATES: EVIDENCE FROM COINTEGRATION TESTS
    Working Papers, Erasmus University of Rotterdam - Institute for Economic Research View citations (2)
    See also Journal Article in Journal of Money, Credit and Banking (1991)

1989

  1. Do fundamentals, bubbles or neither determine stock prices? Some international evidence
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (3)

1988

  1. Forecasting inflation using interest rate and time-series models: some international evidence
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (1)
    See also Journal Article in The Journal of Business (1990)
  2. Stock prices, inflation and real activity: a test of the Fama hypothesis, 1920-84
    Working Papers, Federal Reserve Bank of St. Louis Downloads

1987

  1. On the response of interest rates to unexpected weekly money: are policy changes important?
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (2)
  2. On the sensitivity of VAR forecasts to alternative lag structures
    Working Papers, Federal Reserve Bank of St. Louis Downloads
  3. Policy inference using VAR models: the effects of alternative lag structures
    Working Papers, Federal Reserve Bank of St. Louis Downloads

1986

  1. A note on the temporal stability of the interest rate-weekly money relationship
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (2)
  2. Federal government debt and inflation: evidence from Granger causality tests
    Working Papers, Federal Reserve Bank of St. Louis Downloads

1985

  1. A look at the ASA-NBER inflation forecasts: tests of rationality and formation
    Working Papers, Federal Reserve Bank of St. Louis Downloads
  2. Comparing Multi-State Kalman Filter and ARIMA forecasts: an application to the money multiplier
    Working Papers, Federal Reserve Bank of St. Louis Downloads
  3. Forecasting economic activity: comparing the accuracy of survey and time series predictions
    Working Papers, Federal Reserve Bank of St. Louis Downloads
  4. Further evidence on stock price response to changes in weekly money and the discount rate
    Working Papers, Federal Reserve Bank of St. Louis Downloads
  5. Inflation uncertainty and a test of the Friedman hypothesis
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (2)
    See also Journal Article in Journal of Macroeconomics (1986)
  6. Investigating weekly survey forecasts of the federal funds rate
    Working Papers, Federal Reserve Bank of St. Louis Downloads

1984

  1. Choosing between M1 and debt as an intermediate target for monetary policy
    Working Papers, Federal Reserve Bank of St. Louis Downloads
    See also Journal Article in Carnegie-Rochester Conference Series on Public Policy (1985)
  2. Currency substitution and the link between money and GNP in the U.S.: 1972-83
    Working Papers, Federal Reserve Bank of St. Louis Downloads
  3. On the accuracy of time series, interest rate and survey forecasts of inflation
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (6)
    See also Journal Article in The Journal of Business (1985)
  4. Price expectations and the demand for money: a comment
    Working Papers, Federal Reserve Bank of St. Louis Downloads
    See also Journal Article in The Review of Economics and Statistics (1986)
  5. Relative price variability: evidence from supply and demand events
    Working Papers, Federal Reserve Bank of St. Louis Downloads
    Also in Working Papers, Federal Reserve Bank of St. Louis (1982) Downloads

    See also Journal Article in Journal of Monetary Economics (1985)
  6. The effectiveness of combining forecasts: evidence using macroeconomic variables
    Working Papers, Federal Reserve Bank of St. Louis Downloads
  7. The impact of international factors on U. S. inflation: an empirical test of the currency substitution hypothesis
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (2)
  8. The independence of farm output and macro variables: some evidence from the business cycle
    Working Papers, Federal Reserve Bank of St. Louis Downloads

1983

  1. Comparing time-series and survey forecasts of weekly changes in money: a methodological note
    Working Papers, Federal Reserve Bank of St. Louis Downloads
    See also Journal Article in Journal of Finance (1984)
  2. Money management effects and the demand for money: an empirical analysis
    Working Papers, Federal Reserve Bank of St. Louis Downloads
  3. Predicting the money multiplier: forecasts from component and aggregate models
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (1)
    See also Journal Article in Journal of Monetary Economics (1984)
  4. Some evidence on selecting an intermediate target of monetary policy
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (4)
  5. The FOMC directive and the Treasury-bill futures market: could inside information produce profits?
    Working Papers, Federal Reserve Bank of St. Louis Downloads
  6. The formation of expectations: some evidence from weekly money supply forecasts
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (1)
    See also Journal Article in Economics Letters (1983)
  7. The stability of the short-run money demand function, 1920-1939
    Working Papers, Federal Reserve Bank of St. Louis Downloads
    See also Journal Article in Explorations in Economic History (1985)
  8. The term structure of interest rates in a short-run money demand function: non-nested test results
    Working Papers, Federal Reserve Bank of St. Louis Downloads

1982

  1. A warning on the use of the Cochrane-Orcutt procedure based on a money demand equation for the United States
    Working Papers, Federal Reserve Bank of St. Louis Downloads
  2. Econometric limitations of Fama's interest rate and inflationary expectations framework
    Working Papers, Federal Reserve Bank of St. Louis Downloads
  3. Financial innovations and the interest elasticity of money demand: some historical evidence
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (8)
  4. The monetary base or M1? results from a small macromodel
    Working Papers, Federal Reserve Bank of St. Louis Downloads
    See also Journal Article in Journal of Economics and Business (1984)

1981

  1. A Warning on the Use of the Cochrane-Orcutt Procedure Based on a Real Example Containing a Lagged Endogenous Variable
    Cahiers de recherche, Universite de Montreal, Departement de sciences economiques
  2. Further evidence on choosing an operating target for monetary policy
    Working Papers, Federal Reserve Bank of St. Louis Downloads
  3. Further evidence on the stability of the short-run demand for money
    Working Papers, Federal Reserve Bank of St. Louis Downloads
  4. Investigating the shift in money demand: an econometric analysis
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (1)
  5. Money demand and the term structure of interest rates: some consistent estimates
    Working Papers, Federal Reserve Bank of St. Louis Downloads
    See also Journal Article in Journal of Monetary Economics (1983)
  6. On the rationality of inflation forecasts: a new look at the Livingston data
    Working Papers, Federal Reserve Bank of St. Louis Downloads View citations (2)
  7. The demand for transactions deposits: was there a shift in the relationship?
    Working Papers, Federal Reserve Bank of St. Louis Downloads
    See also Journal Article in Journal of Macroeconomics (1982)

Journal Articles

2013

  1. Darryl Francis and the Making of Monetary Policy, 1966-1975
    Review, 2013, (Nov), 469-486 Downloads
    Also in Review, 2003, (Mar), 1-12 (2003) Downloads View citations (2)
  2. Economic Freedom and Financial Development: International Evidence
    Cato Journal, 2013, 33, (1), 111-126 Downloads

2008

  1. Dynamic IS curves with and without money: An international comparison
    Journal of International Money and Finance, 2008, 27, (4), 609-616 Downloads View citations (7)

2007

  1. On money and output: Is money redundant?
    Journal of Monetary Economics, 2007, 54, (3), 945-954 Downloads View citations (20)

2002

  1. Detrending and the Money-Output Link: International Evidence
    Southern Economic Journal, 2002, 69, (1), 159-174 View citations (9)
    See also Working Paper (2001)
  2. ¿Qué perdura del monetarismo?
    Monetaria, 2002, XXV, (3), 205-246 Downloads

2001

  1. FINANCIAL INNOVATION AND THE DEMAND FOR MONEY: EVIDENCE FROM THE PHILIPPINES
    International Economic Journal, 2001, 17, (1), 17-27 Downloads View citations (3)
  2. The rise and fall of a policy rule: monetarism at the St. Louis Fed, 1968-1986
    Review, 2001, (Jan), 1-24 Downloads View citations (3)
  3. What remains of monetarism?
    Economic Review, 2001, (Q4), 13-33 Downloads View citations (3)

1999

  1. Against the tide: Malcolm Bryan and the introduction of monetary aggregate targets
    Economic Review, 1999, (Q1), 20-37 Downloads
  2. Are money growth and inflation still related?
    Economic Review, 1999, (Q2), 32-43 Downloads View citations (25)

1998

  1. The federal government's budget surplus: Cause for celebration?
    Economic Review, 1998, (Q 3), 42-51 Downloads View citations (2)

1997

  1. Linkage in EMS term structures: evidence from common trend and transitory components
    Journal of International Money and Finance, 1997, 16, (4), 595-607 Downloads View citations (18)
  2. More Evidence on the Money-Output Relationship
    Economic Inquiry, 1997, 35, (1), 48-58 View citations (12)

1996

  1. Implementing monetary base rules: The currency problem
    Journal of Economics and Business, 1996, 48, (5), 461-472 Downloads View citations (3)

1994

  1. A Long-Run View of German Dominance and the Degree of Policy Convergence in the EMS
    Economic Inquiry, 1994, 32, (4), 684-95 View citations (19)
  2. Monetary policy and recent business-cycle experience
    Economic and Financial Policy Review, 1994, (Q III), 14-28 Downloads

1993

  1. Further Evidence on Money, Output, and Prices in China
    Journal of Comparative Economics, 1993, 17, (3), 701-709 Downloads View citations (9)

1992

  1. Inflation and price instability in China: A comment
    China Economic Review, 1992, 3, (2), 213-218 Downloads View citations (2)
  2. Market and Survey Forecasts of the Three-Month Treasury-Bill Rate
    The Journal of Business, 1992, 65, (1), 123-38 Downloads View citations (11)

1991

  1. Policy Inference Using VAR Models
    Economic Inquiry, 1991, 29, (1), 44-52 View citations (11)
  2. The Demand for Money in the United States: Evidence from Cointegration Tests
    Journal of Money, Credit and Banking, 1991, 23, (2), 155-68 Downloads View citations (72)
    See also Working Paper (1990)

1990

  1. Forecasting Inflation Using Interest-Rate and Time-Series Models: Some International Evidence
    The Journal of Business, 1990, 63, (1), 1-17 Downloads
    See also Working Paper (1988)

1989

  1. Comparing futures and survey forecasts of near-term Treasury bill rates
    Review, 1989, (May), 33-42 Downloads View citations (6)
  2. Does dollar depreciation cause inflation?
    Review, 1989, (Jul), 16-28 Downloads View citations (4)
  3. Interest rates and economic announcements
    Review, 1989, (Mar), 34-46 Downloads View citations (20)
  4. The sensitivity of VAR forecasts to alternative lag structures
    International Journal of Forecasting, 1989, 5, (3), 399-408 Downloads View citations (11)

1988

  1. Are national stock markets linked?
    Review, 1988, (Nov), 3-14 Downloads View citations (23)
  2. Do fundamentals, bubbles, or neither explain stock prices? Some international evidence
    Proceedings, 1988, 31-79
  3. Further Evidence on the Relationship between Federal Government Debt and Inflation
    Economic Inquiry, 1988, 26, (2), 239-51 View citations (4)
  4. Is money irrelevant?
    Review, 1988, (May), 3-17 Downloads View citations (22)
  5. On the Temporal Stability of the Interest Rate-Weekly Money Relationship
    The Review of Economics and Statistics, 1988, 70, (3), 516-20 Downloads View citations (5)
  6. The FOMC IN 1987: the effects of a falling dollar and the stock market collapse
    Review, 1988, (Mar), 3-16 Downloads
  7. The stock market--bubbles, volatility and chaos: proceedings of the thirteenth annual Economic Policy Conference, held on October 21-22, 1988
    Proceedings, 1988 View citations (2)

1986

  1. How open is the U.S. economy?: proceedings of the tenth annual Economic Policy Conference held on October 12-13, 1985
    Proceedings, 1986
  2. Inflation uncertainty and a test of the Friedman hypothesis
    Journal of Macroeconomics, 1986, 8, (3), 365-372 Downloads View citations (8)
    See also Working Paper (1985)
  3. Price Expectations and the Demand for Money: A Comment
    The Review of Economics and Statistics, 1986, 68, (3), 539-42 Downloads View citations (2)
    See also Working Paper (1984)
  4. The FOMC in 1985: reacting to declining M1 velocity
    Review, 1986, (Feb), 5-21 Downloads
  5. The response of stock prices to changes in weekly money and the discount rate
    Review, 1986, (Mar), 5-14 Downloads View citations (7)

1985

  1. Choosing between M1 and debt as an intermediate target for monetary policy
    Carnegie-Rochester Conference Series on Public Policy, 1985, 22, (1), 89-132 Downloads
    See also Working Paper (1984)
  2. Corrigendum [A Warning on the Use of the Cochrane-Orcutt Procedure Based on a Money Demand Equation]
    Empirical Economics, 1985, 10, (4), 275
  3. Monetary stabilization policy: evidence from money demand forecasts
    Review, 1985, (May), 21-26 Downloads View citations (5)
  4. Money Demand Predictability: Comment
    Journal of Money, Credit and Banking, 1985, 17, (4), 642-46 Downloads View citations (1)
  5. Money, income and currency substitution: evidence from three countries
    Review, 1985, (May), 27-35 Downloads View citations (2)
  6. On the Accuracy of Time-Series, Interest Rate, and Survey Forecasts of Inflation
    The Journal of Business, 1985, 58, (4), 377-98 Downloads View citations (9)
    See also Working Paper (1984)
  7. Relative price variability: Evidence from supply and demand events
    Journal of Monetary Economics, 1985, 15, (3), 333-341 Downloads View citations (1)
    See also Working Paper (1984)
  8. The FOMC in 1983-84: setting policy in an uncertain world
    Review, 1985, (Apr), 15-37 Downloads
  9. The stability of the short-run money demand function, 1920-1939
    Explorations in Economic History, 1985, 22, (3), 271-295 Downloads
    See also Working Paper (1983)

1984

  1. Comparing Time-Series and Survey Forecasts of Weekly Changes in Money: A Methodological Note
    Journal of Finance, 1984, 39, (4), 1207-13 Downloads View citations (1)
    See also Working Paper (1983)
  2. Currency substitution: a test of its importance
    Review, 1984, (Aug), 5-11 Downloads View citations (8)
  3. Examining the recent behavior of inflation
    Review, 1984, (Aug), 29-39 Downloads View citations (1)
  4. Financial Innovations and the Interest Elasticity of Money Demand: Some Historical Evidence: A Note
    Journal of Money, Credit and Banking, 1984, 16, (2), 247-52 Downloads View citations (3)
  5. Measuring the opportunity cost of holding money: More evidence on the term structure of interest rates
    Economics Letters, 1984, 16, (1-2), 105-111 Downloads
  6. Money, debt and economic activity
    Review, 1984, (Jun), 18-25 Downloads
  7. Predicting the money multiplier: Forecasts from component and aggregate models
    Journal of Monetary Economics, 1984, 14, (3), 375-384 Downloads View citations (3)
    See also Working Paper (1983)
  8. The monetary base or M1? results from a small macromodel
    Journal of Economics and Business, 1984, 36, (1), 85-93 Downloads
    See also Working Paper (1982)
  9. The money-GNP link: assessing alternative transaction measures
    Review, 1984, (Mar), 19-27 Downloads View citations (5)

1983

  1. A Warning on the Use of the Cochrane-Orcutt Procedure Based on a Money Demand Equation
    Empirical Economics, 1983, 8, (2), 111-17
  2. Forecasting the money multiplier: implications for money stock control and economic activity
    Review, 1983, (Oct), 22-33 Downloads View citations (3)
  3. Inflation: assessing its recent behavior and future prospects
    Review, 1983, (Aug), 36-41 Downloads View citations (2)
  4. Monetary policy and the price rule: the newest odd couple
    Review, 1983, (Feb), 5-13 Downloads View citations (2)
  5. Money demand and the term structure of interest rates: Some consistent estimates
    Journal of Monetary Economics, 1983, 11, (1), 129-132 Downloads
    See also Working Paper (1981)
  6. The formation of expectations: Some evidence from weekly money supply forecasts
    Economics Letters, 1983, 13, (4), 367-372 Downloads View citations (1)
    See also Working Paper (1983)
  7. The prime rate and the cost of funds: is the prime too high?
    Review, 1983, (May), 17-21 Downloads View citations (1)
  8. The relative impact of monetary and fiscal actions on economic activity: a cross-country comparison
    Review, 1983, (Jan), 5-12 Downloads View citations (5)
  9. The wayward money supply: a post-mortem of 1982
    Review, 1983, (Mar), 17-25 Downloads
  10. Weekly money supply forecasts: effects of the October 1979 change in monetary control procedures
    Review, 1983, (Apr), 26-32 Downloads

1982

  1. Monetary policy and short-term real rates of interest
    Review, 1982, (Mar), 13-19 Downloads View citations (2)
  2. Short-run monetary growth fluctuations and real economic activity: some implications for monetary targeting
    Review, 1982, (May), 15-20 Downloads
  3. The Stability of the Demand for Money: Evidence from the Post-1973 Period: A Comment
    The Review of Economics and Statistics, 1982, 64, (2), 355-57 Downloads
  4. The demand for transactions deposits: Was there a shift in the relationship?
    Journal of Macroeconomics, 1982, 4, (3), 363-370 Downloads View citations (1)
    See also Working Paper (1981)
  5. The role of fiscal policy in the St. Louis equation
    Review, 1982, (Jan), 17-22 Downloads
  6. The shift in money demand: what really happened?
    Review, 1982, (Feb), 11-16 Downloads View citations (5)

1981

  1. J. S. Mill, Unions, and the Wages Fund Recantation: A Reinterpretation-Reply
    The Quarterly Journal of Economics, 1981, 96, (3), 543-49 Downloads
  2. Much ado about M2
    Review, 1981, (Oct), 13-18 Downloads
  3. Selecting a monetary indicator: a test of the new monetary aggregates
    Review, 1981, (Feb), 12-18 Downloads
  4. The impact of energy prices and money growth on five industrial countries
    Review, 1981, (Mar), 19-26 Downloads
  5. The relationship between inflation and its variability: International evidence from the 1970s
    Journal of Macroeconomics, 1981, 3, (4), 571-577 Downloads View citations (3)

1980

  1. The "rationality" of survey-based inflation forecasts
    Review, 1980, (Nov), 3-11 Downloads View citations (1)
  2. The dynamics and estimation of short-run money demand
    Review, 1980, (Mar), 26-35 Downloads View citations (7)
  3. The new monetary aggregates
    Review, 1980, (Feb), 25-32 Downloads View citations (1)
  4. The value-added tax: a review of the issues
    Review, 1980, (Jan), 3-10 Downloads View citations (1)

1979

  1. Evidence on the temporal stability of the demand for money relationship in the United States
    Review, 1979, (Dec), 3-14 Downloads View citations (9)

1978

  1. J. S. Mill, Unions, and the Wages Fund Recantation: A Reinterpretation
    The Quarterly Journal of Economics, 1978, 92, (4), 603-19 Downloads

1977

  1. State budget sizes and the marginal productivity of governors: An extension
    Public Choice, 1977, 32, (1), 143-149 Downloads View citations (1)
 
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