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Michael T. Owyang Research Officer

Vitae

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Areas of Interest

• Time Series Econometrics
• Bayesian Econometrics
• Markov Switching

Events

Applied Econometrics and Forecasting in Macroeconomics and Finance Workshops
Upcoming: November 5, 2010 | Past Workshops

Selected Publications in Refereed Journals

"Measuring the Information Content of the Beige Book: A Mixed Data Sampling Approach"
with Michelle T. Armesto, Rubén Hernández-Murillo, and Jeremy M. Piger
Journal of Money, Credit and Banking, February 2009, 41(1), pp. 35-55.

"The Economic Performance of Cities: A Markov-Switching Approach"
with Jeremy M. Piger, Howard J. Wall, and Christopher H. Wheeler
Journal of Urban Economics, November 2008, 64(3), pp. 538-50.

"Business Cycle Phases in U.S. States"
with Jeremy M. Piger and Howard J. Wall
Review of Economics and Statistics, November 2005, 87(4), pp. 604-16.

"Monetary Policy in a Markov-Switching VECM: Implications for the Cost of Disinflation and the Price Puzzle"
with Neville Francis, University of North Carolina
Journal of Business and Economic Statistics, July 2005, 23(3), pp. 305-13.

"Regime Switching and Monetary Policy Measurement"
with Garey Ramey, University of California, San Diego
Journal of Monetary Economics, November 2004, 51(8), pp. 1577-98.

More Publications in Refereed Journals

Working Papers

"Discordant City Employment Cycles" - July 2010
with Jeremy Piger and Howard J. Wall
Federal Reserve Bank of St. Louis Working Paper 2010-019A
Abstract | Full Text (PDF 4.7M)

"Do Oil Shocks Drive Business Cycles? Some U.S. and International Evidence" - March 2010
with Kristie M. Engemann and Kevin L. Kliesen
Federal Reserve Bank of St. Louis Working Paper 2010-007A
Abstract | Full Text (PDF 346K)

"The Local Effects of Monetary Policy" - September 2009
with Neville Francis and Tatevik Sekhposyan
Federal Reserve Bank of St. Louis Working Paper 2009-048A
Abstract | Full Text (PDF 316K)

"The Propagation of Regional Recessions" - April 2009
with James D. Hamilton
Federal Reserve Bank of St. Louis Working Paper 2009-013A
Abstract | Full Text (PDF 596K)

"Who Benefits from Increased Government Spending? A State-Level Analysis" - March 2009, Revised June 2010
with Sarah Zubairy
Federal Reserve Bank of St. Louis Working Paper 2009-006B
Abstract | Full Text (PDF 810K)

More Working Papers

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Current Research Projects

"Discordant City Recessions"
with Jeremy Piger and Howard Wall

"A Mixed Frequency Approach to Monetary Shocks"
with Neville Francis and Eric Ghysels

Federal Reserve Bank of St. Louis Review

"Nonlinear Effects of School Quality on House Prices"
with Abbigail Chiodo and Rubén Hernández-Murillo
Federal Reserve Bank of St. Louis Review, May/June 2010, 92(3), pp. 185-204.

"A Primer on the Empirical Identification of Government Spending Shocks"
with Kristie M. Engemann and Sarah Zubairy
Federal Reserve Bank of St. Louis Review, March/April 2008, 90(2), pp. 117-32.

More Federal Reserve Bank of St. Louis Review

Other Federal Reserve Bank of St. Louis Publications

"Unconventional Oil Production: Stuck in a Rock and a Hard Place"
with Kristie M. Engemann
Federal Reserve Bank of St. Louis The Regional Economist, July 2010, pp. 14-15.

"A Winning Combination? Economic Theory Meets Sports"
with Kristie M. Engemann
Federal Reserve Bank of St. Louis The Regional Economist, January 2009, pp. 10-13.

"Regional Aggregation in Forecasting: An Application to the Federal Reserve's Eighth District"
with Kristie M. Engemann and Rubén Hernández-Murillo
Federal Reserve Bank of St. Louis Regional Economic Development, October 2008, 4(1), pp. 15-29.

More Federal Reserve Bank of St. Louis Publications

Recent Commentary

"Not Your Father's Oil Shock"
with Kristie M. Engemann
Federal Reserve Bank of St. Louis Economic Synopses, 2010, No. 9.

Past Commentary

Education

Degree	Institution	Major	Date
Ph.D.	University of California San Diego	Economics	2000
M.A.	University of California San Diego	Economics	1996
B.A.	University of California Berkeley	Economics	1992
B.S.	University of California Berkeley	Mechanical Engineering	1992