Bachelor of Science Pennsylvania State University, 1962. Master of Arts, Doctor of Philosophy University Oregon, 1967.
Assistant Professor Quantitative Business Analysis, Association Professor Management Science, Pennsylvania State University, 1966-1970, 3. Professor Management Science, Pennsylvania State University, University Park, Pennsylvania, United States of America, since 1973. Association Editor, J. Finance Research, 1980.
My original research interests lay in the area of applied econometrics, but, having conducted research in South America, I developed a parallel interest in prob-
lems of economic development. Thus the former interest led to papers on a firm’s cost functions, on growth and market shares, on job flow-time models, and on firm performance evaluation by Pearson-curve fitting. The latter interest led to a series of articles on tests for demand-pull or wage-push inflation, income stabilisation models, and price expectations and monetary adjustments.
Because of the nature of the research topics in the development area, my interests evolved toward macroeconomic models of the United States, and of United States financial institutions.
The result was a series of articles on income stability and the money supply, demand for money and non-constant coefficients of expectation, empirical definitions of money, the pricing of Federal Reserve services, the impact of monetary policy on lending by financial intermediaries, and economic analyses of credit unions. While maintaining interest in these research areas, most recently I have also become interested in the area of railroad transportation and related problems. This interest has led to studies and articles in such topic areas as railroad maintenance-of-way expenditures, construction of indexes of track performance capability, and the impact of general rail rate increases on penetration of Midwestern markets by Pacific coast lumber producers.