Tony Caporale
Biographic Data
| ID | 4393491 |
|---|---|
| NAME | Tony Caporale |
| GIVEN NAMES | Tony |
| FAMILY NAME | Caporale |
| SIGNATURE | CAPORALE T |
| AFFILIATIONS | Ohio University |
| VERIFIED | No |
| TOTAL WORKS | 5 |
| TOTAL CITATIONS | 6 |
| AUTHOR COUNT | 5 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 1993 |
| LATEST PUBLICATION YEAR | 2005 |
| H-INDEX | 1 |
How Smart Is my Dummy? Time Series Tests for the Influence of Politics
Of necessity, many tests for political influence on policies or outcomes involve the use of dummy variables. However, it is often the case that the hypothesis against which the political dummies are tested is the null hypothesis that the intercept is otherwise constant throughout the sample. This simple null can cause inference problems if there are (nonpolitical) intercept shifts in the data and the political dummies are correlated with these un…
Interest Rate Uncertainty and the Founding of the Federal Reserve
This article examines the impact of what is undoubtedly the most important monetary regime change in U.S. history: the founding of the Federal Reserve System. We find, using a (G)ARCH model, a significant reduction in interest rate uncertainty following the founding of the Fed. Additionally, we show that the passage of the Aldrich-Vreeland Act in 1908, another significant change in policy, also led to a reduction in interest rate uncertainty. The…
Slowing monetary growth since 1984
The Relationship Between Output Variability and Growth
A bstract The paper investigates the relationship between output variability and economic growth using a GARCH‐M model with industrial production in post‐war Great Britain. The data reveals a positive relationship between variability and growth rates
Knut Wicksell
This essay argues that Knut Wicksell's trade cycle theory was an older version of real business cycle theory. Wicksell and modern real business cycle theorists both view technology shocks as the initial cause of business cycles. They also both explain money-income correlations as examples of reverse causality. However, Wicksell's analysis of credit market disequilibrium serving as a 'propagation mechanism' in his theory differentiates his analysi…
How Smart Is my Dummy? Time Series Tests for the Influence of Politics
Of necessity, many tests for political influence on policies or outcomes involve the use of dummy variables. However, it is often the case that the hypothesis against which the political dummies are tested is the null hypothesis that the intercept is otherwise constant throughout the sample. This simple null can cause inference problems if there are (nonpolitical) intercept shifts in the data and the political dummies are correlated with these un…
Interest Rate Uncertainty and the Founding of the Federal Reserve
This article examines the impact of what is undoubtedly the most important monetary regime change in U.S. history: the founding of the Federal Reserve System. We find, using a (G)ARCH model, a significant reduction in interest rate uncertainty following the founding of the Fed. Additionally, we show that the passage of the Aldrich-Vreeland Act in 1908, another significant change in policy, also led to a reduction in interest rate uncertainty. The…
The Relationship Between Output Variability and Growth
A bstract The paper investigates the relationship between output variability and economic growth using a GARCH‐M model with industrial production in post‐war Great Britain. The data reveals a positive relationship between variability and growth rates
Knut Wicksell
This essay argues that Knut Wicksell's trade cycle theory was an older version of real business cycle theory. Wicksell and modern real business cycle theorists both view technology shocks as the initial cause of business cycles. They also both explain money-income correlations as examples of reverse causality. However, Wicksell's analysis of credit market disequilibrium serving as a 'propagation mechanism' in his theory differentiates his analysi…
The Relationship Between Output Variability and Growth
A bstract The paper investigates the relationship between output variability and economic growth using a GARCH‐M model with industrial production in post‐war Great Britain. The data reveals a positive relationship between variability and growth rates
Slowing monetary growth since 1984
Interest Rate Uncertainty and the Founding of the Federal Reserve
This article examines the impact of what is undoubtedly the most important monetary regime change in U.S. history: the founding of the Federal Reserve System. We find, using a (G)ARCH model, a significant reduction in interest rate uncertainty following the founding of the Fed. Additionally, we show that the passage of the Aldrich-Vreeland Act in 1908, another significant change in policy, also led to a reduction in interest rate uncertainty. The…
How Smart Is my Dummy? Time Series Tests for the Influence of Politics
Of necessity, many tests for political influence on policies or outcomes involve the use of dummy variables. However, it is often the case that the hypothesis against which the political dummies are tested is the null hypothesis that the intercept is otherwise constant throughout the sample. This simple null can cause inference problems if there are (nonpolitical) intercept shifts in the data and the political dummies are correlated with these un…
Economics (5 works) · Monetary Policy and Economic Impact (5 works) · Market Dynamics and Volatility (3 works) · Monetary policy (3 works) · Political science (3 works) · Politics (3 works) · Econometrics (2 works) · Economic theories and models (2 works) · Keynesian economics (2 works) · Law (2 works)