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Michael R. Pakko Research Officer

Vitae: Standard - PDF ( 70K )

Research on Smoke-Free Laws

Published Papers

"Inflation Risk and Optimal Monetary Policy"
with William T. Gavin and Benjamin D. Keen
FORTHCOMING: Macroeconomic Dynamics
Abstract | Full Text (PDF)

"No Smoking at the Slot Machines: The Effect of a Smoke-Free Law on Delaware Gaming Revenues"
Applied Economics, July 2008, 40(14), pp. 1769-74.

"Monetary Policy, Taxes and the Business Cycle"
with William T. Gavin and Finn E. Kydland
Journal of Monetary Economics, September 2007, 54(6), pp. 1587-1611.

"Smoke-free Law Did Affect Revenue From Gaming in Delaware"
Tobacco Control, February 2006, 15(1), pp. 68-9.

"Changing Technology Trends, Transition Dynamics and Growth Accounting"
Contributions to Macroeconomics, 2005, 5(1), Article 12.

"On The Information Content of Asymmetric FOMC Policy Statements: Evidence From A Taylor-Rule Perspective"
Economic Inquiry, July 2005, 43(3), pp. 558-69.

"A Spectral Analysis of the Cross-Country Consumption Correlation Puzzle"
Economics Letters, September 2004, 84(3), pp. 341-347.

"Substitution Elasticities and Investment Dynamics in Two-Country Business Cycle Models"
Topics in Macroeconomics, 2003, 3(1), Article 14.

"What Happens When the Technology Growth Trend Changes?: Transition Dynamics, Capital Growth and the 'New Economy'"
Review of Economic Dynamics, April 2002, 5(2). pp. 376-407.
Data Appendix

"The Cyclical Relationship Between Output and Prices: An Analysis in the Frequency Domain"
Journal of Money, Credit and Banking, August 2000, 32(3), pp. 382-99.

"Do High Interest Rates Stem Capital Outflows?"
Economic Letters, May 2000, 67(2), pp. 187-392.

"Characterizing Cross-Country Consumption Correlations"
Review of Economics and Statistics, February 1998, 80(1), pp. 169-74.

"International Risk Sharing and Low Cross-Country Consumption Correlations: Are They Really Inconsistent?"
Review of International Economics, August 1997, 5(3), pp. 386-400.

Review Articles

"The Monetary Instrument Matters"
with William T. Gavin and Benjamin D. Keen
Federal Reserve Bank of St. Louis Review September/October 2005, 87(5), pp. 633-58.

"Burgernomics: A Big Mac™ Guide to Purchasing Power Parity"
with Patricia S. Pollard
Federal Reserve Bank of St. Louis Review, November/December 2003, 85(6), pp. 9-28.

"Investment Specific Technology Growth: Concepts and Recent Estimates"
Federal Reserve Bank of St. Louis Review, November/December 2002, 84(6), pp. 37-48.

"The High-Tech Investment Boom and Economic Growth in the 1990s: Accounting for Quality"
Federal Reserve Bank of St. Louis Review, March/April 2002, 84(2), pp. 3-18.

"Reconsidering the Trade-Creating Effects of a Currency Union"
with Howard Wall
Federal Reserve Bank of St. Louis Review, September/October 2001, 83(5), pp. 37-45.

"The United States Trade Deficit and the 'New Economy'"
Federal Reserve Bank of St. Louis Review, September/October 1999, 81(5), pp. 11-20.

"Shoe-Leather Costs of Inflation and Policy Credibility"
Federal Reserve Bank of St. Louis Review, November/December 1998, 80(6), pp. 37-50.

More Review Articles

Other Federal Reserve Publications

"A New Picture of Metro-Area Employment in the Eighth District"
with Howard J. Wall
Federal Reserve Bank of St. Louis The Regional Economist, April 2008, pp. 18-19.

"The Economic Impact of a Smoking Ban in Columbia, Missouri: An Analysis of Sales Tax Data for the First Year"
Federal Reserve Bank of St. Louis CRE8^® Occasional Report, 2008-02, March 2008.

"Revised Employment Data for Metro Areas in the Eighth District"
with Howard J. Wall
Federal Reserve Bank of St. Louis CRE8^® Occasional Report, 2008-01, March 2008.

"Clearing the Haze? New Evidence on the Economic Impact of Smoking Bans"
Federal Reserve Bank of St. Louis The Regional Economist, January 2008, pp. 10-11.

"District Fares Better Than Nation as Housing Market Crumbles"
Federal Reserve Bank of St. Louis The Regional Economist, January 2008, pp. 18-19.

"The Economic Impact of a Smoking Ban in Columbia, Missouri: A Preliminary Analysis of Sales Tax Data"
Federal Reserve Bank of St. Louis CRE8^® Occasional Report, 2007-02, December 2007.

More Federal Reserve Publications

Work In Progress

2007-025B "Monetary Policy and Natural Disasters in a DSGE Model: How Should the Fed Have Responded to Hurricane Katrina?" - June 2007, Revised January 2008
with Benjamin D. Keen
Abstract | Full Text (PDF)

More Work in Progress

Education

Degree	Institution	Major	Date
Ph.D.	University of Rochester Rochester, NY	Economics	1994
M.A.	University of Rochester	Economics	1992
B.A.	James Madison College Michigan State University East Lansing, MI	Socioeconomic Policy Problems, Economics	1984