• Has the euro sustainably increased home price co-movement? 

  Miles, William (John Wiley and Sons, 2019-02-22)

  A low level of co‐movement between different euro country housing markets creates difficulties for the ECB in setting monetary policy. Such co‐movement across eurozone countries has been the subject of a number of studies, ...

• Direct medical costs and their predictors in patients with rheumatoid arthritis: A three-year study of 7,527 patients 

  Michaud, Kaleb; Pelkowski, Jodi E.; Choi, Hyon K.; Wolfe, Frederick (American College of Rheumatology, 2003-10-07)

  OBJECTIVE. To estimate total direct medical costs in persons with rheumatoid arthritis (RA) and to characterize predictors of these costs. METHODS. Patients (n = 7,527) participating in a longitudinal study of outcome in ...

• The consequences (and nonconsequences) of ownership change: the case of major league baseball 

  Hersch, Philip L.; Pelkowski, Jodi E. (SAGE Publications, 2019-01)

  Although ultimate responsibility for a professional sports team lies with the owner, little is known about the repercussions of having a new owner at the helm. This article investigates ownership change in Major League ...

• Is full efficiency achievable? An empirical study of the banking industry in Taiwan 

  Chen, Ku Hsieh; Cheng, Jen-Chi; Lee, Joe Ming; Chi, Ching Fang (Blackwell Publishing Inc., 2018-11-10)

  This paper aims to propose a feasible framework for estimating the efficiency of input factors for banks and the adjustment of these factors necessary to achieve full efficiency in the short and long term. Based on a sample ...

• Did the euro common currency increase or decrease business cycle synchronization for its member countries? 

  Miles, William; Vijverberg, Chu-Ping C. (John Wiley and Sons, 2018-07)

  We use two variants of Markov switching models to assess changes in output synchronization since the creation of the euro. Out of eight eurozone countries investigated, only onethe Netherlandshas synchronization increased ...

• Has there actually been a sustained increase in the synchronization of house price (and business) cycles across countries? 

  Miles, William (Elsevier B.V., 2017-06)

  Housing has been demonstrated to affect the macroeconomy, particularly business cycle fluctuations. Given the more globalized nature of financial and economic activity in comparison to past decades, there has been much ...

• The Barings crisis in Argentina: the role of exogenous European money market factors 

  Miles, William (Taylor & Francis, 2002-01)

  The Barings crisis of 1890 was a wrenching financial crash and recession for Argentina. The episode is similar in many respects to the balance of payments difficulties in emerging markets during the 1990s. In particular, ...

• Clustering in U.K. home price volatility 

  Miles, William (American Real Estate Society, 2011)

  In the wake of the 2007-2009 global financial crisis, there has been heightened interest in correctly gauging the probability of large losses on assets, particularly house prices. If an asset exhibits GARCH effects in its ...

• Bubbles, busts, breaks, and segmentation 

  Miles, William (American Real Estate Society, 2013)

  Given the recent turmoil in the housing market in the United States, several papers have examined whether price dynamics in municipalities displayed a structural change, which would suggest bubble and bust behavior. Some ...

• The end of the Asian myth: why were the experts fooled? 

  Baer, Werner; Miles, William; Moran, Allen B. (Elsevier, 1999-10)

  This article examines the reasons behind the overoptimism of a large segment of the economics profession concerning the performance of East Asian economies, which was shattered by the financial crises of 1997-1998. It also ...

• Contagion versus interdependence across regional U.S. housing markets and implications for RMBS geographic diversification strategy 

  Miles, William (American Real Estate Society, 2015)

  Home prices in the United States often exhibit little (and sometimes even negative) correlation across different regions. This reflects segmentation in the national housing market and also provides an apparent opportunity ...

• Volatility transmission in U.K. housing: a multivariate GARCH approach 

  Miles, William (American Real Estate Society, 2010)

  Despite its importance for gauging the probability of large losses and portfolio management, there has not been an investigation of how GARCH conditional volatility is transmitted between regions in the United Kingdom. ...

• The Role of non-bank financial intermediaries in propagating Korea's financial crisis 

  Miles, William (World Scientific Publishing, 2003-03)

  The Korean crisis has been analyzed for the causal role banks played through the "credit view". Non-bank lenders have grown more important than banks in providing loans, but their role in creating financial instability has ...

• The Housing bubble: how much blame does the Fed really deserve? 

  Miles, William (American Real Estate Society, 2014)

  Two recent empirical papers have blamed the Fed for the latest boom and bust in housing. Neither study includes long-term interest rates, which are more affected by global factors than the federal funds rate (FFR). In this ...

• Trading externalities and new equity issues in emerging markets 

  Miles, William (Elsevier, 2005-02)

  The volatility in emerging market finance over the last decade has highlighted the importance of developing equity exchanges to enhance risk sharing between international investors. Debt markets do not allow for as much ...

• Securitization, liquidity, and the Brady plan 

  Miles, William (Elsevier, 1999)

  Securitization of bank loans is proposed as a solution to the ongoing debt difficulties for emerging market nations. This paper analyzes the effects of the Brady plan for four participating countries. In addition to resolving ...

• Can money market mutual funds provide sufficient liquidity to replace deposit insurance? 

  Miles, William (Springer, 2001-09)

  Narrow banking is an arrangement in which deposittaking and lending functions are separated and performed by different institutions. This separation is aimed at avoiding panics at uninsured banks, without moral hazard ...

• Effectiveness of capital controls: the Case of Brazil 

  Miles, William (John Wiley & Sons, Ltd., 2004-02)

  The emerging market crises of the past decade have led some observers to question the wisdom of a completely open capital account. But even if capital controls are desirable, empirical evidence is needed to demonstrate ...

• How feasible is the West African eco currency union? A new approach 

  Miles, William (Elsevier, 2015-06-25)

  A recent proposal to expand the CFA Franc zone in West Africa would create a currency union that, in terms of population, would rival the Euro. This new currency union would include Nigeria, which would have the largest ...

• The East African Monetary Union: is the level of business cycle synchronization sufficient? 

  Miles, William (Redfame Publishing, 2015)

  The East African Community (Burundi, Kenya, Rwanda, Tanzania and Uganda) has a goal of a currency union, as part of a movement toward eventual political union. A key factor in making a currency union desirable is a high ...

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