Current Research Paper
The
Determinants of Capital Structure in the ICT Industry”
By Giorgio Canarella and Stephen M. Miller
Firm Size, Corporate Debt, R&D
Activity, and Agency Costs: Exploring Dynamic and Non-Linear Effects
By Giorgio Canarella and Stephen M. Miller
By Giorgio Canarella, Luis A. Gil-Alana, Rangan Gupta, and Stephen M. Miller
“The
micro-foundations of an open economy money demand: An application to the
Central and Eastern European countries” Journal of Macroeconomics. June 2019.
By Claudiu Tiberiu Albulescu, Dominique Pépin, and
Stephen M. Miller
“Modeling U.S. Historical Time-Series
Prices and Inflation Using Alternative Long-Memory Approaches”
By Giorgio Canarella, Luis A. Gil-Alana, Rangan Gupta, and Stephen M. Miller
“Growth
Volatility and Inequality in the U.S.: A Wavelet Analysis” Physica A: Statistical Mechanics and Its Applications, May 2019.
By Shinhye Chang, Rangan
Gupta, Stephen M. M. Miller, and Mark E Wohar
“Causality
between Output and Income Inequality across US States: Evidence from a
Heterogeneous Mixed Panel Approach” Journal of Income Distribution, forthcoming
By Shinhye Chang, Hsiao-Ping Chu, Rangan Gupta, and Stephen M. Miller
“Partisan
Conflict and Income Distribution in the United States: A Nonparametric
Causality-in-Quantiles Approach” Social indicators Research, February 2019
By Mehmet Balcilar, Seyi
Saint Akadiri, Rangan
Gupta, and Stephen M. Miller
“U.S. Fiscal
Policy and Asset Prices: The Role of Partisan Conflict” International Review of Finance, on line
March 14, 2018.
By Rangan Gupta, Chi Keung Marco Lau, Stephen
M. Miller, and Mark E. Wohar
“The
Determinants of Growth in the Information and Communication Technology (ICT)
Industry: A Firm-level Analysis” Economic Modelling, April 2018
By Giorgio Canarella and Stephen M. Miller
By Giorgio Canarella, Luis A. Gil-Alana, Rangan Gupta, and Stephen M. Miller
“The
Relationship between Inflation rate and Inequality: A Semiparametric Approach” Quantity and Quality, September
2018
By Mehmet Balcilar, Shinhye
Chang, Rangan Gupta, and Stephen M. Miller
“Time-Frequency
Relationship between Inflation and Inflation Uncertainty for the U.S.: Evidence
from Historical Data” Scottish
Journal of Political Economy, online January 4, 2019.
By Claudiu Tiberiu Albulescu, Aviral Kumar Tiwari,
Stephen M. Miller, and Rangan Gupta
“Income
Inequality: A State-by-State Complex Network Analysis” Physica A: Statistical Mechanics and Its
Applications, October 2017.
By Periklis Gogas, Rangan Gupta, Stephen M. Miller, Theophilos
Papadimitrioua, and Georgios Antonios
Sarantitisa
“Target Level
and Variability Trade-offs”
By Huiping Yuan and Stephen M. Miller
“Inflation
Targeting: New Evidence from Fractional Integration and Cointegration” Journal of Economics and Business, July-August
2017
By Giorgio Canarella and Stephen M. Miller
“Time-Varying
Persistence of Inflation: Evidence from a Wavelet-based Approach” Studies in Nonlinear Dynamics and
Econometrics, September 2017.
By Heni Boubaker,
Giorgio Canarella, Rangan
Gupta, and Stephen M. Miller
“Did Okun's Law Die after the Great Recession?” Business Economics, October
2017
By Giorgio Canarella and Stephen M. Miller
“Inflation
Persistence and Structural Breaks: The Experience of Inflation Targeting
Countries and the US” Journal
of Economic Studies, 43(6) 2016
By Giorgio Canarella and Stephen M. Miller
“Decomposition
of Output Growth in the Presence of Input Quality: A Stochastic Frontier
Approach” German
Economic Review, online December 4, 2017
By Yasmina Rim Limam,
Stephen M. Miller, and Giampaolo Garzarelli
“The
Relationship between Population Growth and Standard-of-Living Growth Over
1870-2013: Evidence from a Bootstrapped Panel Granger Causality Test” Empirica, Journal of European Economics, February
2017.
By Tsangyao Chang, Hsiao-Ping Chu, Frederick
W. Deale, Rangan Gupta, and Stephen M. Miller
“Causality
between Per Capita Real GDP and Income Inequality in the U.S.: Evidence from a
Wavelet Analysis” Social
Indicators Research, January 2018.
By Shinhye Chang, Rangan
Gupta, and Stephen M. Miller
“The Time-Series Linkages between
US Fiscal Policy and Asset Prices” Public Finance Review, inpress
By Ghassen El Montasser, Rangan Gupta, Charl Jooste, and Stephen M. Miller
“Uncertainty
and Crude Oil Returns” Energy Economics, March 2016
By Riadh Aloui, Rangan Gupta, and Stephen M. Miller
“Is
Real Per Capita State Personal Income Stationary? New Nonlinear, Asymmetric
Panel-Data Evidence” Bulletin
of Economic Research, in press.
By Furkan Emirmahmutoglu,
Rangan Gupta, Stephen M. Miller, and Tolga Omay
“Convergence
in Income Inequality: Further Evidence from Club Clustering Methodology across
U.S. States” International Advances in Economic Research, May 2018.
By Nicholas Apergis, Christina Christou, Rangan Gupta, and Stephen M. Miller
By Christopher Arthur Clarke and Stephen M. Miller
“Inflation Persistence Before and
After Inflation Targeting: A Fractional Integration Approach” Eastern
Economic Journal, July 2015.
By Giorgio Canarella and Stephen M. Miller
“The
Co-Movement and Causality between the U.S. Housing and Stock Markets in the
Time and Frequency Domains ” International Review of Economics
and Finance, July 2015
By Tsangyao Chang, Xiao-lin Li, Stephen M. Miller, Mehmet Balcilar, and Rangan Gupta
“Regime
Switching Model of US Crude Oil and Stock Market Prices: 1859 to 2013” Energy Economics, May 2015
By Mehmet Balcilar, Rangan Gupta, and Stephen M. Miller
“A Time-Varying Approach of the US Welfare
Cost of Inflation” Macroeconomic Dynamics, March
2019.
By Stephen M. Miller, Luis Filipe Martins, and Rangan Gupta
“Forecasting US Real Private Residential
Fixed Investment Using a Large Number of Predictors” Empirical
Economics, December 2016.
By Goodness C. Aye, Stephen M. Miller, Rangan Gupta, and Mehmet Balcilar
“Evolution of Monetary Policy in the US: The Role of Asset Prices” Journal of Real Estate Finance and Economics, April 2016.
By Beatrice D. Simo-Kengne, Stephen M. Miller, and Rangan Gupta
“Unemployment Rate Hysteresis and the
Great Recession: Exploring the Metropolitan Evidence” Empirical Economics, January 2019.
By Giorgio Canarella, Stephen M. Miller, and Stephen K. Pollard
“Temporal
Causality between House Prices and Output in the U. S.: A Bootstrap
Rolling-Window Approach” North
American Journal of Economics and Finance, July 2015
By Wendy Nyakabawo, Stephen M. Miller, Mehmet Balcilar, Sonali Das, and Rangan Gupta
“Time-Varying Effects
of Housing and Stock Prices on U.S. Consumption” Journal of Real Estate Finance
and Economics, April 2015
By Beatrice D. Simo-Kengne, Stephen M. Miller, Rangan Gupta, and Goodness C. Aye
“Housing and
the Great Depression” Applied Economics, 46(24), 2014
By Mehmet Balcilar, Rangan Gupta, and Stephen M. Miller
“Does Financial Development Volatility Affect
Industrial Growth Volatility?” International Review of Economics
and Finance, January 2014
By Ho-Chuan (River) Huang, WenShwo Fang, and Stephen M. Miller
“Was
the Recent Downturn in US GDP Predictable?” Applied Economics, 47(28) 2015.
By Mehmet Balcilar, Rangan Gupta, Anandamayee Majumdar, and Stephen M. Miller
“Fiscal Policy Shocks and the Dynamics
of Asset Prices: The South African Experience” Public Finance Review, June 2014
By Goodness C. Aye, Mehmet Balcilar, Rangan Gupta, Charl Jooste, Stephen M. Miller and Zeynel Abidin Ozdemir
“Banking Market Structure, Liquidity Needs, and Industrial Growth Volatility” Journal of Empirical Finance, March 2014
By Ho-Chuan (River) Huang, WenShwo Fang, and Stephen M. Miller
“The Out-of-Sample Forecasting Performance of
Non-Linear Models of Regional Housing Prices in the US” Applied Economics, 47(22), Feb 2015.
By Mehmet Balcilar, Rangan,
Gupta, and Stephen M. Miller
“Purchasing Power Parity between the UK and
Germany: The Euro Area” Open Economies Review, September
2014
By Giorgio Canarella, Stephen M. Miller, and Stephen K. Pollard
“Output Growth and Its Volatility: The Gold Standard through the Great Moderation” Southern Economic Journal, January 2014
By WenShwo Fang and Stephen M. Miller
“The Bank Lending Channel and Monetary
Policy Rules for European Banks: Further Extensions” The B.E. Journal of Macroeconomics, Published online: 12 June 2014
By Nicholas Apergis, Stephen M.
Miller, and Effrosyni Alevizopoulou
“The Bank Lending Channel and Monetary
Policy Rules: Further Extensions” Procedia Economics and Finance, 2, 2012
By Nicholas Apergis, Stephen M.
Miller, and Effrosyni Alevizopoulou
“The Effect of Growth Volatility on Income
Inequality” Economic Modelling, February 2015
By Ho-Chuan (River) Huang, WenShwo Fang, and Stephen M. Miller
“Demographic Transition and Economic Welfare: The Role of Humanitarian Aid Quarterly Review of Economics and
Finance, November
2015
By Kyriakos C. Neanidis and Stephen M. Miller
“Firm Profitability: Mean-Reverting or
Random-Walk Behavior?” Journal of Economics and
Business, March-April
2013
By Giorgio Canarella, Stephen M. Miller, and Mahmoud M. Nourayi
“The Effect of ESCOs on Carbon Dioxide
Emissions” Applied Economics, June 2013
By WenShwo Fang and
Stephen M. Miller
“Do ESCOs Effectively Reduce Energy Use?” Energy Policy, December 2012
By WenShwo Fang and
Stephen M. Miller
“The
Global Financial Crisis and Stochastic Convergence in the Euro Area” International
Advances in Economic Research, August
2011
By Giorgio Canarella, Stephen M. Miller, and
Stephen K. Pollard
“Using Large Data Sets to Forecast Sectoral
Employment” Statistical Methods and Applications, June
2014
By Rangan Gupta, Alain Kabundi,
Stephen M. Miller, and Josine Uwilingiye
“Forecasting
Nevada Gross Gaming Revenue and Taxable Sales Using Coincident and Leading
Employment Indexes” Shorter
version in Empirical Economics, April 2013
By Mehmet Balcilar, Rangan
Gupta, Anandamayee Majumdar,
and Stephen M. Miller
“Country and Industry Convergence of Equity
Markets: International Evidence from Club Convergence and Clustering” North
American Journal of Economics and Finance, July 2014
By Nicholas Apergis, Christina Christou, and
Stephen M. Miller
“Convergence
Patterns in Financial Development: Evidence from Club Convergence” Empirical Economics, December 2012
By Nicholas Apergis, Christina Christou, and
Stephen M. Miller
“Financial
Market Liberalization, Monetary Policy, and Housing Price Dynamics” International Business &
Economics Research Journal, 11(1) 2012
By Rangan Gupta, Stephen M. Miller, and Dylan
van Wyk
“Unit Roots and Structural Change: An
Application to US House-Price Indices” Shorter version in Urban Studies, March 2012
By Giorgio Canarella, Stephen M. Miller, and
Stephen K. Pollard
“The
Lag in Effect of Inflation Targeting and Policy Evaluation” Applied Economic Letters, 18(14)
2011
By WenShwo Fang and Stephen M. Miller
“What Can We Learn about Inflation Targeting?
Evidence from Time-Varying Treatment Effects”
By WenShwo Fang, Stephen M. Miller, and ChunShen Lee
“The Great Moderation and Leptokurtosis after
GARCH Adjustment” Shorter version in Empirical Economic Letters, June 2010
By WenShwo Fang, Stephen M. Miller, and ChunShen Lee
"Understanding
Central Bank Loss Functions: Implied and Delegated Targets”
By Huiping
Yuan and Stephen M. Miller
“Forecasting the US Real House Price Index: Structural and Non-Structural Models with and without Fundamentals” Economic Modelling, July 2011
By Rangan Gupta, Alain Kabundi,
and Stephen M. Miller
“Monetary
Policy and Housing Sector Dynamics in a Large-Scale Bayesian Vector
Autoregressive Model” International
Journal of Strategic Property Management, April
2012
By Rangan Gupta, Marius Jurgilas,
Alain Kabundi, and Stephen M. Miller
“Using
Large Data Sets to Forecast Housing Prices: A Case Study of Twenty US States” Journal of Housing Research, 20(2)
2011
By Rangan Gupta, Alain Kabundi,
and Stephen M. Miller
“Time Series Properties
of Housing Prices: A Case Study of the Southern California Market” Journal of Real Estate Finance and Economics, April 2012
By Rangan Gupta and Stephen M. Miller
“‘Ripple
Effects’ and Forecasting Home Prices in Los Angeles, Las Vegas, and Phoenix” The Annals of Regional Science, 48(3), 2012
By Rangan Gupta and Stephen M. Miller
"The
Principal-Agent Approach to Monetary Policy Delegation” In
Challenges in Central Banking: The Current Institutional Environment and Forces
Affecting Monetary Policy, eds. P. L. Siklos, M. T. Bohl, and M. E. Wohar, Cambridge University Press, 2010
By Georgios E. Chortareas and Stephen M. Miller
“Do
Structural Oil-Market Shocks Affect Stock Prices?” Energy Economics, July
2009
By Nicholas Apergis and Stephen M. Miller
“Geographic Deregulation and Commercial Bank Performance in US State Banking Markets” Quarterly Review of Economics and Finance, February 2011
By Yong-Dong Zou, Stephen M. Miller, and Bernard Malamud
“Is
the Great Moderation Ending? UK and US Evidence” Modern Economy, May 2010
By Giorgio Canarella, WenShwo
Fang, Stephen M. Miller, and Stephen K. Pollard
“Does
a Threshold Inflation Rate Exist? Quantile Inferences for Inflation and Its
Variability” Empirical Economics, December 2010
By WenShwo Fang, Stephen M. Miller, and Chih-Chuan Yeh
“Cross-Country
Evidence on Output Growth Volatility: Nonstationary Variance and GARCH Models” Scottish Journal of Political Economy, September
2008
By WenShwo Fang, Stephen M. Miller, and ChunShen Lee
"Modeling
the Volatility of Real GDP Growth: The Case of Japan Revisited" Japan
and the World Economy, August 2009
By WenShwo
Fang and Stephen M. Miller
“Cost Improvements, Returns to Scale, and
Cost Inefficiencies for Real Estate Investment Trusts”
By Stephen M. Miller and Thomas M. Springer
"Total
Factor Productivity and Monetary Policy: Evidence from Conditional
Volatility" International Finance, Summer 2007
By Nicholas Apergis
and Stephen M. Miller
"Restructuring the Wealth Effect on
Consumption: Further Analysis and Extension"
By Nicholas Apergis
and Stephen M. Miller
"The
Great Moderation and the Relationship between Output Growth and Its
Volatility" Southern Economic Journal, January 2008
By WenShwo
Fang and Stephen M. Miller
"Implementing Optimal Monetary Policy:
Objectives and Rules” Economic Modelling, May 2010
By Huiping
Yuan and Stephen M. Miller
"The Walsh Contract for Central Bankers
Are Optimal After All!” Public Choice, April 2007
By Georgios E. Chortareas and Stephen M. Miller
By Huiping
Yuan and Stephen M. Miller
"The Optimality and Controllability of
Monetary Policy through Delegation with Consistent Targets” Scottish Journal of Political Economy, February
2011
By Huiping
Yuan, Stephen M. Miller, and Langnan
Chen
"Designing
Central Bank Loss Functions” International Journal of Business and Economics, April
2010
By Huiping
Yuan and Stephen M. Miller
“Economies of Scale and Cost Efficiencies: A Panel-Data
Stochastic-Frontier Analysis of Real Estate Investment Trusts” The
Manchester School, July 2006
By Stephen M. Miller, Terrence M. Clauretie, and Thomas M.
Springer
”Using Equity
Markets to Teach Long-Run Monetary Neutrality” International
Review of Economics Education, June 2010
By Stephen M. Miller
“Export
Promotion through Exchange Rate Policy: Exchange Rate Depreciation or
Stabilization” Southern Economic Journal, January 2006
By WenShwo
Fang, YiHao Lai, and Stephen M. Miller
“Does Exchange Rate Risk Affect Exports
Asymmetrically? Asian Evidence” Journal of International
Money and Finance, March 2009
By WenShwo Fang, YiHao
Lai, and Stephen M. Miller
"Exchange
Rate Depreciation and Exports: The Case of Singapore Revisited" Applied
Economics, February 2007
By WenShwo
Fang and Stephen M. Miller
"The
Value of Waiting: Foreign Direct Investment with Uncertainty and Imperfect
Local Knowledge"
By Yongil
Jeon, Taekwon Kim, and Stephen M. Miller
"The
Geographic Distribution of the Size and Timing of Monetary Policy Actions"
By Yongil
Jeon and Stephen M. Miller
"Inflation
Targeting and Output Growth: Evidence from Aggregate European Data" International Monetary
Fund Working Paper No. 05/89 and Economic & Financial Modeling, Summer 2008
By Nicholas Apergis,
Stephen M. Miller, Alexandros Panethimitakis, and Athanassios Vamvakidis
"Consumption
Asymmetry and the Stock Market: New Evidence through a Threshold Adjustment
Model"
By Nicholas Apergis
and Stephen M. Miller
"Consumption
Asymmetry and the Stock Market: Empirical Evidence"
Economics Letters, December 2006
By Nicholas Apergis
and Stephen M. Miller
"Macroeconomic
Rationality and Lucas's Misperceptions Model: Further Evidence from Forty-One
Countries" Journal
of Economics and Business, May-June 2004
By Nicholas Apergis
and Stephen M. Miller
By Yasmina
R. Limam and Stephen M. Miller
"MBA
Program Reputation: Objective Rankings For Students, Employers, And Program
Administrators"
By Yongil
Jeon, Stephen M. Miller, and Subhash Ray
By Yongil
Jeon and Stephen M. Miller
"Foreign
and Domestic Bank Performance: An Ideal Decomposition of Industry Dynamics"
By Yongil
Jeon and Stephen M. Miller
"Bank
Performance: Market Power or Efficient Structure"
By Yongil
Jeon and Stephen M. Miller
"Deregulation
and Structural Change in the U.S. Commercial Banking Industry" Eastern
Economic Journal, Summer 2003
By Yongil
Jeon and Stephen M. Miller
"Births,
Deaths, and Marriages in the U.S. Commercial Banking Industry" Economic
Inquiry, April 2007
By Yongil
Jeon and Stephen M. Miller
"Explaining U.S. Commercial
Bank Births, Deaths, and Marriages"
By Yongil
Jeon and Stephen M. Miller
"Do
Foreign Bank Operations Provide a Stabilizing Influence in Korea?" Quarterly
Review of Economics and Finance, February 2006
By Yongil
Jeon, Stephen M. Miller, and Paul A. Natke
"Performance
of Domestic and Foreign Banks: The Case of Korea and the Asian Financial
Crisis" Global Economic Review, June 2005
By Yongil
Jeon and Stephen M. Miller
"The
Effect of the Asian Financial Crisis on the Performance of Korean Nationwide
Banks" Applied Financial Economics, 2 February 2007
By Yongil
Jeon and Stephen M. Miller
"The
Real Exchange Rate in Small Open Developed Economies: Evidence from Cointegration Analysis" Economic Record, March
2004
By Debabrata
Bagchi, Georgios E. Chortareas,
and Stephen M. Miller
"Central
Banker Contracts, Incomplete Information, and Monetary Policy Surprises: In
Search of a Selfish Central Banker?" Public Choice, September
2003
By Georgios E. Chortareas and Stephen M. Miller
"Optimal
Central Banker Contracts and Common Agency" Public Choice, October
2004
By Georgios E. Chortareas and Stephen M. Miller
"Monetary
Policy Delegation, Contract Costs, and Contract Targets" Bulletin
of Economic Research, January 2003
By Georgios E. Chortareas and Stephen M. Miller
"The
Relationship between Large Fiscal Adjustments and Short-Term Output Growth
under Alternative Fiscal Policy Regimes" Contemporary Economic
Policy, January 2003
By Stephen M. Miller and Frank S.
Russek
"Productivity
Growth in Large US Commercial Banks: The Initial Post-Deregulation
Experience" Journal of Banking and Finance, May 2001
By Kankana
Mukherjee, Subhash C. Ray and Stephen M. Miller
"Teaching
Time Preference and Human Impatience: The Billionaire Game"
By Stephen M. Miller
By Alpha C. Chiang and Stephen M.
Miller
"An
Endogenous Model of Union Density and Membership"
By Habib Ahmed and Stephen M.
Miller
By Stephen M. Miller and Mukti P. Upadhyay
"Total
Factor Productivity and the Convergence Hypothesis" Journal of
Macroeconomics, June 2002
By Stephen M. Miller and Mukti P. Upadhyay
"The
Effects of Openness, Trade Orientation, and Human Capital on Total Factor
Productivity" Journal of Development Economics, December 2000
By Stephen M. Miller and Mukti P. Upadhyay
"The
Exchange Rate-Investment Nexus and Exchange Rate Instability: Another Reason
for ‘Fear of Floating’" Keio
Economic Studies, 2008
By Habib Ahmed, C. Paul Hallwood, and Stephen M. Miller
"Crowding-Out
and Crowding-In Effects of the Components of Government Spending" Contemporary
Economic Policy, January 2000
By Habib Ahmed and Stephen M.
Miller
"The
Level of Development and the Determinants of Output Growth: A Cross-Country
Analysis" Applied Economics, June 2002
By Habib Ahmed and Stephen M.
Miller
"Monetary
and Exchange Rate Policy in Multisectoral Economies” Journal
of Economics and Business, July/August 1997
By Habib Ahmed and Stephen M.
Miller
"Using
Leading Indicators to Forecast U.S. Home Sales in a Bayesian VAR
Framework" Journal of Real Estate Finance and Economics, March
1999
By Pami
Dua, Stephen M. Miller, and David J. Smyth
"Performance
Evaluation of the New Connecticut Leading Employment Index Using Lead Profiles
and BVAR Models" Journal of Forecasting, September
2006
By Anirvan
Banerji, Pami Dua, and
Stephen M. Miller
By Victor Olivo
and Stephen M. Miller
"Optimal
Negotiated Transfer Pricing and Its Implications for International Transfer
Pricing of Intangibles" International Journal of
Intellectual Property Management, 4(4) 2011
By Peter C. Dawson and Stephen M.
Miller
"Currency Depreciation and Korean Stock
Market Performance during the Asian Financial Crisis"
By WenShwo
Fang and Stephen M. Miller
"Dynamic Effects of Currency
Depreciation on Stock Market Returns during the Asian Financial Crisis"
By WenShwo
Fang and Stephen M. Miller
"Explaining
Recent Connecticut Bank Failures" Stephen M. Miller and Athanasios G. Noulas