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Michael R. Pakko Research Officer

Dr. Pakko has resigned from his position at the Federal Reserve Bank of St. Louis. He may be contacted at mrpakko@ualr.edu.

Vitae: Standard - PDF ( 51K )

Research on Smoke-Free Laws

Published Papers

"Inflation Risk and Optimal Monetary Policy"
with William T. Gavin and Benjamin D. Keen
Macroeconomic Dynamics, May 2009, 13(Supplement 1), pp. 58-75.

"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.

More Published Papers

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

"No Ifs, Ands or Butts: Illinois Casinos Lost Revenue after Smoking Banned"
with Thomas A. Garrett
Federal Reserve Bank of St. Louis The Regional Economist, July 2009, pp. 14-15.

"Annual Revision of Metro Jobs Data Shows Little Change from Earlier Reports"
with Thomas A. Garrett
Federal Reserve Bank of St. Louis The Regional Economist, April 2009, pp. 24-25.

"Deficits, Debt and Looming Disaster"
Federal Reserve Bank of St. Louis The Regional Economist, January 2009, pp. 4-9.

"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 Regional Economic Development, October 2008, 4(1), pp. 30-40.

"Eighth District States Weather the Mortgage Foreclosure Storm"
with Yuliya Demyanyk
Federal Reserve Bank of St. Louis The Regional Economist, October 2008, pp. 18-19.

"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.

"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.

More Federal Reserve Publications

Work In Progress

2009-049A "Taylor-Type Rules and Permanent Shifts in Productivity Growth" - September 2009
with William T. Gavin and Benjamin D. Keen
Abstract | Full Text (PDF)

2009-027A "Casino Revenue and the Illinois Smoking Ban" - June 2009
with Thomas A. Garrett
Abstract | Full Text (PDF) | Appendix (PDF)

2007-025C "Monetary Policy and Natural Disasters in a DSGE Model: How Should the Fed Have Responded to Hurricane Katrina?" - June 2007, Revised April 2009
with Benjamin D. Keen
Abstract | Full Text (PDF)

More Work in Progress

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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