Details about Robert H. Rasche

This author is deceased (2016-06-02).

Access statistics for papers by Robert H. Rasche.

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Short-id: pra180

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Working Papers

2011

1. Inflation in the G7: mind the gap(s)?
   Working Papers, Federal Reserve Bank of St. Louis View citations (2)
   See also Journal Article INFLATION IN THE G7: MIND THE GAP(S)?, Macroeconomic Dynamics, Cambridge University Press (2015) View citations (5) (2015)
2. The Great Inflation: Did the Shadow Know Better?
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
   Also in Working Papers, Federal Reserve Bank of St. Louis (2008)
   See also Chapter The Great Inflation: Did The Shadow Know Better?, NBER Chapters, National Bureau of Economic Research, Inc (2013) (2013)

2006

3. Analysis of panel vector error correction models using maximum likelihood, the bootstrap, and canonical-correlation estimators
   Working Papers, Federal Reserve Bank of St. Louis View citations (8)
4. Inflation: do expectations trump the gap?
   Working Papers, Federal Reserve Bank of St. Louis View citations (12)
   See also Journal Article Inflation: Do Expectations Trump the Gap?, International Journal of Central Banking, International Journal of Central Banking (2008) View citations (9) (2008)

2005

5. The Reform of October 1979: How it Happened and Why
   CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (36)
   Also in Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (2005) View citations (14)
   Working Papers, Federal Reserve Bank of St. Louis (2004)
   CFS Working Paper Series, Center for Financial Studies (CFS) (2004)
   See also Journal Article The Reform of October 1979: How It Happened and Why, Review, Federal Reserve Bank of St. Louis (2013) View citations (5) (2013)
6. The effectiveness of monetary policy
   Working Papers, Federal Reserve Bank of St. Louis View citations (17)
   See also Journal Article The effectiveness of monetary policy, Review, Federal Reserve Bank of St. Louis (2007) View citations (5) (2007)

2001

7. A vector error correction forecasting model of the U.S. economy
   Working Papers, Federal Reserve Bank of St. Louis View citations (8)
   Also in Working Papers, Federal Reserve Bank of St. Louis (1997) View citations (1)
   See also Journal Article Reply to the comments on 'A vector error-correction forecasting model of the U.S. economy', Journal of Macroeconomics, Elsevier (2002) View citations (7) (2002)
8. Identification of dynamic economic models from reduced form VECM structures: an application of covariance restrictions
   Working Papers, Federal Reserve Bank of St. Louis
9. The remarkable stability of monetary base velocity in the United States, 1919-1999
   Working Papers, Federal Reserve Bank of St. Louis View citations (16)

2000

10. Perfecting the market's knowledge of monetary policy
    Working Papers, Federal Reserve Bank of St. Louis View citations (69)
    See also Journal Article Perfecting the Market's Knowledge of Monetary Policy, Journal of Financial Services Research, Springer (2000) View citations (80) (2000)
11. Retail sweep programs and bank reserves, 1994--1999
    Working Papers, Federal Reserve Bank of St. Louis View citations (8)
    See also Journal Article Retail sweep programs and bank reserves, 1994-1999, Review, Federal Reserve Bank of St. Louis (2001) View citations (25) (2001)
12. The domestic adjusted monetary base
    Working Papers, Federal Reserve Bank of St. Louis View citations (32)

1999

13. Results of a study of the stability of cointegrating relations comprised of broad monetary aggregates
    Working Papers (Old Series), Federal Reserve Bank of Cleveland View citations (17)
    See also Journal Article Results of a study of the stability of cointegrating relations comprised of broad monetary aggregates, Journal of Monetary Economics, Elsevier (2000) View citations (66) (2000)

1997

14. Construction of an estimated domestic monetary base using new estimates of foreign holdings of U.S. currency
    Working Papers, Federal Reserve Bank of St. Louis View citations (2)

1996

15. A revised measure of the St. Louis adjusted monetary base
    Working Papers, Federal Reserve Bank of St. Louis View citations (11)
    See also Journal Article A revised measure of the St. Louis adjusted monetary base, Review, Federal Reserve Bank of St. Louis (1996) View citations (11) (1996)
16. Defining the adjusted monetary base in an era of financial change
    Working Papers, Federal Reserve Bank of St. Louis View citations (7)

1992

17. Monetary Aggregates, Monetary Policy and Economic Activity
    Working Papers, Michigan State - Econometrics and Economic Theory
    See also Journal Article Monetary aggregates, monetary policy and economic activity, Review, Federal Reserve Bank of St. Louis (1993) View citations (3) (1993)

1991

18. Money Demand in the U.S. and Japan: Analysis of Stability and the Importance of Transitory and Permanent Shocks
    Working Papers, Michigan State - Econometrics and Economic Theory View citations (1)
19. Shadow Open Market Committee; Policy Statement and Position Papers
    Working Papers, Rochester, Business - Industry Policy Studies View citations (4)

1990

20. P* Type Models: Evaluation and Forecasts
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (6)
    See also Journal Article P* type models: Evaluation and forecasts, International Journal of Forecasting, Elsevier (1990) View citations (8) (1990)

1989

21. Kolmogorov-Smirnov Tests For Distribution Function Similarity With Applications To Portfolios of Common Stock
    NBER Technical Working Papers, National Bureau of Economic Research, Inc
22. Long-run Income and Interest Elasticities of Money Demand in the United States
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (11)
    See also Journal Article Long-Run Income and Interest Elasticities of Money Demand in the United States, The Review of Economics and Statistics, MIT Press (1991) View citations (98) (1991)
23. The Demand For Money in the U.S. During the Great Depression: Estimates and Comparison with the Post War Experience
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)

1988

24. DEMAND FUNCTIONS FOR U.S. MONEY AND CREDIT MEASURES
    Working Papers, Michigan State - Econometrics and Economic Theory View citations (3)

Journal Articles

2015

1. INFLATION IN THE G7: MIND THE GAP(S)?
   Macroeconomic Dynamics, 2015, 19, (4), 883-912 View citations (5)
   See also Working Paper Inflation in the G7: mind the gap(s)?, Working Papers (2011) View citations (2) (2011)

2013

2. The Reform of October 1979: How It Happened and Why
   Review, 2013, (Nov), 487-542 View citations (5)
   Also in Review, 2005, 87, (Mar), 187-236 (2005) View citations (14)
   See also Working Paper The Reform of October 1979: How it Happened and Why, CEPR Discussion Papers (2005) View citations (36) (2005)

2008

3. Editor's introduction
   Review, 2008, 90, (Jul), 271-274
4. Inflation: Do Expectations Trump the Gap?
   International Journal of Central Banking, 2008, 4, (4), 85-116 View citations (9)
   See also Working Paper Inflation: do expectations trump the gap?, Working Papers (2006) View citations (12) (2006)

2007

5. The effectiveness of monetary policy
   Review, 2007, 89, (Sep), 447-490 View citations (5)
   See also Working Paper The effectiveness of monetary policy, Working Papers (2005) View citations (17) (2005)

2006

6. Greenspan's unconventional view of the long-run inflation/output trade-off
   Monetary Trends, 2006, (Jan) View citations (2)

2004

7. A neutral federal funds rate?
   Monetary Trends, 2004, (Dec)
8. Discrete policy changes and empirical models of the federal funds rate
   Review, 2004, 86, (Nov), 61-72 View citations (6)

2003

9. A reconstruction of the Federal Reserve Bank of St. Louis adjusted monetary base and reserves
   Review, 2003, 85, (Sep), 39-69 View citations (6)
10. The impact of changes in FOMC disclosure practices on the transparency of monetary policy: are markets and the FOMC better "synched"?
    Review, 2003, 85, (Jan), 1-10 View citations (27)

2002

11. A vector error-correction forecasting model of the US economy
    Journal of Macroeconomics, 2002, 24, (4), 569-598 View citations (20)
12. Flation
    Review, 2002, 84, (Nov), 1-6
13. Market anticipations of monetary policy actions
    Review, 2002, 84, (Jul), 65-94 View citations (93)
14. Reply to the comments on 'A vector error-correction forecasting model of the U.S. economy'
    Journal of Macroeconomics, 2002, 24, (4), 613-614 View citations (7)
    See also Working Paper A vector error correction forecasting model of the U.S. economy, Working Papers (2001) View citations (8) (2001)
15. The FOMC's balance-of-risks statement and market expectations of policy actions
    Review, 2002, 84, (Sep), 37-50 View citations (9)

2001

16. Retail sweep programs and bank reserves, 1994-1999
    Review, 2001, 83, (Jan), 51-72 View citations (25)
    See also Working Paper Retail sweep programs and bank reserves, 1994--1999, Working Papers (2000) View citations (8) (2000)
17. The monetary/fiscal policy debate: a controlled experiment
    Monetary Trends, 2001, (Oct)

2000

18. Perfecting the Market's Knowledge of Monetary Policy
    Journal of Financial Services Research, 2000, 18, (2), 255-298 View citations (80)
    See also Working Paper Perfecting the market's knowledge of monetary policy, Working Papers (2000) View citations (69) (2000)
19. Results of a study of the stability of cointegrating relations comprised of broad monetary aggregates
    Journal of Monetary Economics, 2000, 46, (2), 345-383 View citations (66)
    See also Working Paper Results of a study of the stability of cointegrating relations comprised of broad monetary aggregates, Working Papers (Old Series) (1999) View citations (17) (1999)

1999

20. Eighty years of observations on the adjusted monetary base: 1918-1997
    Review, 1999, (Jan), 3-22 View citations (1)
21. Identification, Long-Run Relations, and Fundamental Innovations in a Simple Cointegrated System
    The Review of Economics and Statistics, 1999, 81, (1), 109-121 View citations (26)

1998

22. Stochastic trends and economic fluctuations in a large open economy
    Journal of International Money and Finance, 1998, 17, (4), 565-596 View citations (7)

1996

23. A revised measure of the St. Louis adjusted monetary base
    Review, 1996, 78, (Mar), 3-13 View citations (11)
    See also Working Paper A revised measure of the St. Louis adjusted monetary base, Working Papers (1996) View citations (11) (1996)
24. Assessing Forecast Performance in a Cointegrated System
    Journal of Applied Econometrics, 1996, 11, (5), 495-517 View citations (95)
25. Measuring the adjusted monetary base in an era of financial change
    Review, 1996, (Nov), 3-37 View citations (8)

1995

26. Pitfalls in counterfactual analyses of policy rules
    Open Economies Review, 1995, 6, (3), 199-202 View citations (3)
27. The stability of long-run money demand in five industrial countries
    Journal of Monetary Economics, 1995, 35, (2), 317-339 View citations (90)

1993

28. A comparison of some basic monetary policy regimes for open economies: A comment
    Carnegie-Rochester Conference Series on Public Policy, 1993, 39, (1), 319-327
29. Monetary aggregates, monetary policy and economic activity
    Review, 1993, (Mar), 1-35 View citations (3)
    See also Working Paper Monetary Aggregates, Monetary Policy and Economic Activity, Working Papers (1992) (1992)

1992

30. Sufficient Conditions for Expected Utility to Imply Mean-Standard Deviation Rankings: Empirical Evidence Concerning the Location and Scale Condition
    Economic Journal, 1992, 102, (410), 91-106 View citations (37)

1991

31. Long-Run Income and Interest Elasticities of Money Demand in the United States
    The Review of Economics and Statistics, 1991, 73, (4), 665-74 View citations (98)
    See also Working Paper Long-run Income and Interest Elasticities of Money Demand in the United States, NBER Working Papers (1989) View citations (11) (1989)
32. Tax reform and potential output a comment
    Carnegie-Rochester Conference Series on Public Policy, 1991, 35, (1), 181-184

1990

33. Comments on "Buffer stocks, credit, and aggregation effects in the demand for broad money: Theory and an application to the U.K. personal sector"
    Journal of Policy Modeling, 1990, 12, (2), 377-381
34. Demand functions for measures of U.S. money and debt
    Proceedings, 1990, 113-172 View citations (6)
35. Equilibrium Income and Interest Elasticities of the Demand for M1 in Japan
    Monetary and Economic Studies, 1990, 8, (2), 31-58 View citations (6)
36. P* type models: Evaluation and forecasts
    International Journal of Forecasting, 1990, 6, (3), 421-440 View citations (8)
    See also Working Paper P* Type Models: Evaluation and Forecasts, NBER Working Papers (1990) View citations (6) (1990)
37. The M2 Demand in Japan: Shifted and Unstable?
    Monetary and Economic Studies, 1990, 8, (2), 9-30 View citations (6)

1988

38. An Examination of the Commerce Department Leading-Indicator Approach
    Journal of Business & Economic Statistics, 1988, 6, (2), 167-87 View citations (18)

1987

39. M1 -- Velocity and money-demand functions: Do stable relationships exist?
    Carnegie-Rochester Conference Series on Public Policy, 1987, 27, (1), 9-88 View citations (43)

1986

40. Predicting the money stock: a comparison of alternative approaches
    Economic Review, 1986, (Spr), 38-54

1985

41. Deficit projections vs. deficit forecasts
    FRBSF Economic Letter, 1985, (jul5) View citations (4)
42. Interest rate volatility and alternative monetary control procedure
    Economic Review, 1985, (Sum), 46-63 View citations (1)
43. Views on deficits and interest rates
    FRBSF Economic Letter, 1985, (apr19)
44. What would nominal GNP targetting do to the business cycle? A comment
    Carnegie-Rochester Conference Series on Public Policy, 1985, 22, (1), 85-87

1984

45. Fair Value Versus Original Cost Rate Base Valuation During Inflation
    The Energy Journal, 1984, Volume 5, (Number 2), 93-108
46. The Incidence and Incentive Effects of Property Tax Credits: Evidence From Michigan
    Public Finance Review, 1984, 12, (3), 291-319 View citations (8)

1983

47. A new look at the relationship between time-series and structural econometric models
    Journal of Econometrics, 1983, 23, (2), 235-251
48. Monetary policy with a credit aggregate target Comment on the Friedman paper
    Carnegie-Rochester Conference Series on Public Policy, 1983, 18, (1), 149-155

1982

49. What Do Money Market Models Tell Us about How to Implement Monetary Policy?
    Journal of Money, Credit and Banking, 1982, 14, (4), 796-828 View citations (9)

1981

50. Can the Reserves Approach to Monetary Control Really Work?
    Journal of Money, Credit and Banking, 1981, 13, (3), 298-313 View citations (20)
51. Energy price shocks, aggregate supply and monetary policy: The theory and the international evidence
    Carnegie-Rochester Conference Series on Public Policy, 1981, 14, (1), 9-93 View citations (90)
52. Identification of the Lorenz curve by Lorenz coefficient
    Review of World Economics (Weltwirtschaftliches Archiv), 1981, 117, (1), 125-135
53. Redistribution through the Financial System: The Grants Economics of Money and Credit
    Journal of Economic Issues, 1981, 15, (1), 161-171 View citations (1)
54. Reply to Gordon
    Carnegie-Rochester Conference Series on Public Policy, 1981, 14, (1), 103-107

1980

55. Comment on Analysis of the Impact of Capital-Specific Policies or Legislation
    Journal of Money, Credit and Banking, 1980, 12, (2), 425-28
56. Federal Reserve Bank Membership: Effects on Bank Profits
    Journal of Money, Credit and Banking, 1980, 12, (3), 448-61 View citations (4)
57. Functional Forms for Estimating the Lorenz Curve: Comment
    Econometrica, 1980, 48, (4), 1061-62 View citations (45)
58. Issues and models in empirical research on aggregate consumer expenditure: A comment
    Carnegie-Rochester Conference Series on Public Policy, 1980, 12, (1), 207-214
59. On the costs and benefits of anti-inflation policies
    Review, 1980, 62, (Feb), 3-14 View citations (3)

1979

60. Predicting the money multiplier
    Journal of Monetary Economics, 1979, 5, (3), 301-325 View citations (29)

1978

61. A comparison of yields on future contracts and implied forward rates
    Review, 1978, 60, (Dec), 21-30 View citations (2)
62. Costs of reserves and the relative size of member and nonmember bank demand deposits
    Journal of Monetary Economics, 1978, 4, (4), 715-733 View citations (4)

1977

63. Bank management and portfolio behavior: Donald D. Hester and James L. Pierce, (Yale University Press, New Haven, 1973) pp. xvi+301, $20.00
    Journal of Monetary Economics, 1977, 3, (2), 262-264
64. Debt-management policy and the own price elasticity of demand for U.S. government notes and bonds
    Review, 1977, 59, (Sep), 8-22
65. Energy resources and potential GNP
    Review, 1977, 59, (Jun), 10-24 View citations (69)
66. Revision of the monetary base
    Review, 1977, 59, (Jul), 13-28 View citations (9)
67. The Treasury bill futures market and market expectations of interest rates
    Review, 1977, 59, (Jun), 2-9 View citations (3)
68. The effects of the new energy regime on economic capacity, production, and prices
    Review, 1977, 59, (May), 2-12 View citations (72)

1976

69. Inflation -- alternative explanations and policies: Tests on data drawn from six countries: A comment
    Carnegie-Rochester Conference Series on Public Policy, 1976, 4, (1), 307-309
70. Policy conflicts in the separate control of quantity and price in the energy industries: A comment
    Carnegie-Rochester Conference Series on Public Policy, 1976, 3, (1), 245-248
71. Price Expectations and Interest Rates: Some Clarifying Comments: Comment
    Journal of Money, Credit and Banking, 1976, 8, (1), 119-22
72. Regulation Q and the current problems of Savings and Loan Associations: A comment
    Carnegie-Rochester Conference Series on Public Policy, 1976, 4, (1), 247-250

1975

73. An Analysis of the Private and Commercial Demand for Gasoline
    The Review of Economics and Statistics, 1975, 57, (4), 502-07 View citations (31)

1973

74. A comparative static analysis of some monetarist propositions
    Review, 1973, 55, (Dec), 15-23 View citations (2)
75. Simulations of Stabilization Policies for 1966-1970
    Journal of Money, Credit and Banking, 1973, 5, (1), 1-25

1972

76. A review of empirical studies of the money supply mechanism
    Review, 1972, 54, (Jul), 11-19
77. Comments on a monetarist approach to demand management
    Review, 1972, 54, (Jan), 26-32
78. Impact of the Stock Market on Private Demand
    American Economic Review, 1972, 62, (2), 220-28

1971

79. Subsidies, Economic Lives, and Complete Resource Misallocation
    American Economic Review, 1971, 61, (5), 938-45 View citations (4)

1970

80. Central Bank Policy, the Money Supply, and the Short-Term Rate of Interest
    Journal of Money, Credit and Banking, 1970, 2, (2), 166-218 View citations (23)

Chapters

2013

1. The Great Inflation: Did The Shadow Know Better?
   A chapter in The Great Inflation: The Rebirth of Modern Central Banking, 2013, pp 61-107
   See also Working Paper The Great Inflation: Did the Shadow Know Better?, National Bureau of Economic Research, Inc (2011) View citations (3) (2011)

1993

2. Indicators of Inflation
   Palgrave Macmillan

1972

3. Appendix To Part 1: Equations and Definitions of Variables for the FRB-MIT-Penn Econometric Model, November 1969
   A chapter in Econometric Models of Cyclical Behavior, Volumes 1 and 2, 1972, pp 543-598