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David Dale Owen: Pioneer Geologist of the Middle West. Walter Brookfield Henderson

1945 The Journal of geology  
David Dale Owen, broadly trained in Scot- land, Switzerland, London, and Cincinnati, was primarily a chemist until his thirtieth year.  ...  Especially interesting this proves to be because a lively central figure—David Dale Owen—unifies several of these pioneer efforts in a connected story.  ... 
doi:10.1086/625272 fatcat:dbpmua6u6bbxjcbf6uofs2orpq

Summary of Papers Presented at the Conference "Models and Monetary Policy: Research in the Tradition of Dale Henderson, Richard Porter, and Peter Tinsley"

Jon Faust, Board of Governors of the Federal Reserve System, Athanasios Orphanides, David L. Reifschneider
2004 Federal Reserve Bulletin  
Henderson, Richard D. Porter, and Peter A. Tinsley.  ...  In particular, the papers represent research in the tradition of work carried out over the past thirty-five years at the Federal Reserve by three prominent staff economists-Dale W.  ...  Erceg, Dale W. Henderson, and Andrew T.  ... 
doi:10.17016/bulletin.2004.90-3-1 fatcat:gsrsxoswynenxiizjg743azxd4

Archibald Henderson: The New Crichton. A Composite Portrait: Authorized

William Pratt Dale, Samuel Stevens Hood
1949 The Journal of southern history  
Henderson is pleasing.  ...  Cotterill, in which he points out that the phenomenon occurred because the mathematician’s name was Henderson, were written for the present volume.  ... 
doi:10.2307/2198117 fatcat:yfzwhaqy2bbglgc2ftgnaztzee

Is Inflation Targeting Best-Practice Monetary Policy?

Jon Faust, Dale W. Henderson
2004 Review  
In this section, we survey both the common ground and the disputed ground. 5 Examples are Friedman and Kuttner (1996) , Jensen (2002) , and Kim and Henderson (2002) 6 This statement is correct, so  ...  The second modification is to assume that the wage of composite labor (or the price of a second composite good) is affected by staggered contracts, as for example in Erceg, Henderson, and Levin (2000)  ... 
doi:10.20955/r.86.117-144 fatcat:pu6e5bualzaazhxhoq2uwjkiui

Burn Characteristics of Marginal Deuterium-Tritium Microspheres

Dale B. Henderson
1974 Physical Review Letters  
Fxistlng studies of Che thermonuclear burn of DT aierosptieres have assumedamplece Maxwcllien distributionit in the reactivity < crv >. Under jwrginal conditions, jsfi<10~ , we find long racanfrec-paths for ions in the tail of the distribution may quench the burn. This nlssing factor appears Co explain the laefc of success in laser-fusion experiments conducted co date.
doi:10.1103/physrevlett.33.1142 fatcat:w4ej4ypszraunce74o235fbcri

Is Inflation Targeting Best-Practice Monetary Policy?

Jon Faust, Dale W. Henderson
2004 Social Science Research Network  
The second modification is to assume that the wage of composite labor (or the price of a second composite good) is affected by staggered contracts, as in, for example, Erceg, Henderson, and Levin (2000  ...  For one discussion of the liquidity trap situation and references to many more, see Clouse, Henderson, Orphanides, Small, and Tinsley (2003) .15 A recent confirmation that central bank talk matters is  ... 
doi:10.2139/ssrn.558685 fatcat:5dyne52n2rg5tcof6gmn3eajbq

Federated simulations for systems of systems integration

Robert Kewley, James Cook, Niki Goerger, Dale Henderson, Edward Teague
2008 2008 Winter Simulation Conference  
MÄK's VR Forces simulation Kewley, Cook, Goerger, Henderson and Teague was used to provide basic environmental and entity capabilities.  ...  In federated simulations, it is not common for the models to share a single representation Kewley, Cook, Goerger, Henderson and Teague of the environment across the network.  ... 
doi:10.1109/wsc.2008.4736181 dblp:conf/wsc/KewleyCGHT08 fatcat:c5h7p2b3nnddhjjjsdqaqrenom

Optimal Monetary Policy With Staggered Wage and Price Contracts

Christopher J. Erceg, Dale W. Henderson, Andrew T. Levin
2000 Social Science Research Network  
We formulate an optimizing-agent model in which both labor and product markets exhibit monopolistic competition and staggered nominal contracts. The unconditional expectation of average household utility can be expressed in terms of the unconditional variances of the output gap, price inflation, and wage inflation. Monetary policy cannot replicate the Pareto-optimal equilibrium that would occur under completely flexible wages and prices; that is, the model exhibits a tradeoff between
more » ... the output gap, price inflation, and wage inflation. The Pareto optimum is only attainable if either wages or prices are completely flexible. For reasonable calibrations of the model, we characterize the optimal policy rule. Furthermore, strict price inflation targeting is clearly suboptimal, whereas rules that place substantial weight on the output gap as well as price inflation are nearly optimal. for useful discussions; and Carolina Marquez for valuable research assistance. We have benefitted from suggestions made by an anonymous referee and by Robert King. We particularly appreciate the recent contributions of Julio Rotemberg and Michael Woodford, who not only have performed path breaking welfare analysis of monetary policy, but also have developed intuitively appealing explanations of their results and have made substantial efforts to provide the details of their derivations. The views in this paper are solely the responsibility of the authors and should not be interpreted as reflecting the views of the Board of Governors of the Federal Reserve System or of any other person associated with the Federal Reserve System. The email addresses of the authors are ercegc@frb.gov, hendersd@frb.gov, and levina@frb.gov, respectively.
doi:10.2139/ssrn.231785 fatcat:laosnxqzhrctxi6a4fybeuesly

Interpreting Investment-Specific Technology Shocks

Luca Guerrieri, Board of Governors of the Federal Reserve System, Dale W. Henderson
2010 International Finance Discussion Paper  
Investment-specific technology (IST) shocks are often interpreted as multi-factor productivity (MFP) shocks in a separate investment-producing sector. However, this interpretation is strictly valid only when some stringent conditions are satisfied. Some of these conditions are at odds with the data. Using a two-sector model whose calibration is based on the U.S. Input-Output Tables, we consider the implications of relaxing several of these conditions. In particular, we show how the effects of
more » ... T shocks in a one-sector model differ from those of MFP shocks to an investment-producing sector of a two-sector model. Importantly, with a menu of shocks drawn from recent empirical studies, MFP shocks induce a positive short-run correlation between consumption and investment consistent with U.S. data, while IST shocks do not.
doi:10.17016/ifdp.2010.1000 fatcat:a7q2u77ph5dexdpkletzy5lafe

The benefits of expediting government gold sales

Dale W. Henderson, Stephen W. Salant, John S. Irons, Sebastian Thomas
2007 Review of Financial Economics  
This source of gain does not arise in Salant and Henderson (1978) where we abstract from service uses of gold.  ...  In this modified version, private agents anticipate each period that a sale of Ḡ will occur with probability a given that no sale has occurred already as in Salant and Henderson (1978) .  ... 
doi:10.1016/j.rfe.2006.01.001 fatcat:2sy2id2d3zghtkb7vsd4dxydfa

Market Anticipations of Government Policies and the Price of Gold

Stephen W. Salant, Dale W. Henderson
1978 Journal of Political Economy  
doi:10.1086/260702 fatcat:xtt3kbbznrdzxlqlz6lp6a7uoi

Inflation Targeting and Nominal Income Growth Targeting: When and Why are They Suboptimal?

Jinill Kim, Dale W. Henderson
2002 Social Science Research Network  
HGHULYHRSWLPDOPRQHWDU\VWDELOL]DWLRQUXOHVDQGFRPSDUHWKHPWRVLPSOHUXOHVXQGHUERWKIXOO DQGSDUWLDOLQIRUPDWLRQ7KHQRPLQDOLQWHUHVWUDWHLVWKHLQVWUXPHQWRIPRQHWDU\SROLF\6SHFLDODWWHQWLRQLV GHYRWHGWRLQIODWLRQWDUJHWLQJDQGQRPLQDOLQFRPHJURZWKWDUJHWLQJ:HXVHDQRSWLPL]LQJDJHQWPRGHORI DFORVHGHFRQRP\ZKLFKIHDWXUHVPRQRSROLVWLFFRPSHWLWLRQLQERWKSURGXFWDQGODERUPDUNHWV$VWDELOL]DWLRQ SUREOHPH[LVWVEHFDXVHWKHUHDUHRQHSHULRGQRPLQDOFRQWUDFWVHLWKHUIRUZDJHVDORQHRUIRUERWKZDJHVDQG
more »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ominal income growth targeting dominates inflation targeting for plausible parameter values.
doi:10.2139/ssrn.307001 fatcat:qdvx65y26jbexbveput3ybhlqm

Is Inflation Targeting Best-Practice Monetary Policy?

Jon Faust, Board of Governors of the Federal Reserve System, Dale W. Henderson
2004 International Finance Discussion Paper  
Jon Faust and Dale W.  ...  For a particularly eloquent statement of the case for a stabilization buffer, seePhelps (1972, p. 210).37 Henderson(2004)puts forward views similar to those expressed here.  ... 
doi:10.17016/ifdp.2004.807 fatcat:5qvhaypczbexhka3bvjcq7bfpi

Optimal monetary policy with staggered wage and price contracts

Christopher J. Erceg, Dale W. Henderson, Andrew T. Levin
2000 Journal of Monetary Economics  
We formulate an optimizing-agent model in which both labor and product markets exhibit monopolistic competition and staggered nominal contracts. The unconditional expectation of average household utility can be expressed in terms of the unconditional variances of the output gap, price inflation, and wage inflation. Monetary policy cannot replicate the Pareto-optimal equilibrium that would occur under completely flexible wages and prices; that is, the model exhibits a tradeoff between
more » ... the output gap, price inflation, and wage inflation. The Pareto optimum is only attainable if either wages or prices are completely flexible. For reasonable calibrations of the model, we characterize the optimal policy rule. Furthermore, strict price inflation targeting is clearly suboptimal, whereas rules that place substantial weight on the output gap as well as price inflation are nearly optimal. for useful discussions; and Carolina Marquez for valuable research assistance. We have benefitted from suggestions made by an anonymous referee and by Robert King. We particularly appreciate the recent contributions of Julio Rotemberg and Michael Woodford, who not only have performed path breaking welfare analysis of monetary policy, but also have developed intuitively appealing explanations of their results and have made substantial efforts to provide the details of their derivations. The views in this paper are solely the responsibility of the authors and should not be interpreted as reflecting the views of the Board of Governors of the Federal Reserve System or of any other person associated with the Federal Reserve System. The email addresses of the authors are ercegc@frb.gov, hendersd@frb.gov, and levina@frb.gov, respectively.
doi:10.1016/s0304-3932(00)00028-3 fatcat:oi3fj6tybnavbaedakcylfelvy

Price-level Determinancy, Lower Bounds on the Nominal Interest Rate, and Liquidity Traps

Dale W. Henderson, Ragna Alstadheim
2004 Social Science Research Network  
We consider monetary-policy rules with inflation-rate targets and interest-rate or money-growth instruments using a flexible-price, perfect-foresight model. There is always a locally-unique target equilibrium. There may also be below-target equilibria (BTE) with inflation always below target and constant, asymptotically approaching or eventually reaching a below-target value, or oscillating. Liquidity traps are neither necessary nor sufficient for BTE which can arise if monetary policy keeps
more » ... interest rate above a lower bound. We construct monetary rules that preclude BTE when fiscal policy does not. Plausible fiscal policies preclude BTE for any monetary policy; those policies exclude surpluses and, possibly, balanced budgets. and dale.henderson@frb.gov.
doi:10.2139/ssrn.541342 fatcat:7joe3wpaqvdffijd54d3toq7lm
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