Robert F. Graboyes, MSHA, PhD
Writings 1989-2001: written while I worked at the Federal Reserve Bank of Richmond.
Federal Reserve Bank of Richmond Working Papers
 FRBR Working Papers. August 2000. Develops a theoretical model in which it is socially for some patients to decline high-cost, low-benefit medical treatment. (Adapted from doctoral dissertation.)
 Getting Better, Feeling Worse: Cure Rates, Health Insurance, and Welfare FRBR Working Papers. August 2000. Extends "Our Money or Your Life" by adjusting cure rates for the worse-off patients. Finds conditions under which technological improvement in medicine paradoxically makes society worse off. (Adapted from doctoral dissertation.)
 Medicine Worse then the Malady: Cure Rates, Population Shifts, and Health Insurance FRBR Working Papers. August 2000. Extends "Our Money or Your Life" by adjusting cure rates for the worse-off patients. Finds conditions under which improved health status by some paradoxically worsens social welfare. (Adapted from doctoral dissertation.)
 Wicksell's Monetary Framework and Dynamic Stability (co-author, Thomas M. Humphrey) FRBR Working Papers. 1990. Paper examines whether Knut Wicksell's interest rate-adjustment rule, coupled with his famous cumulative process mechanism of price level change, can stabilize prices (and interest rates). This paper finds that if the interest rate rule is properly specified, it can do so.
Economic Quarterly and Economic Review
 Medical Care Price Indexes Economic Quarterly (FRBR). Fall 1994. Reprinted in Macroeconomic Data: A User's Guide, Roy H. Webb, ed. Catalogues methodologies for measure changes in the price of medical care. Focuses on the arbitrary nature of some measures.
 The EMU: Forerunners and Durability Economic Review (FRBR). July/August 1990. English adaptation, French adaptation, German adaptation by Centre International de Formation Européenne, 1996. Examines the history and characteristics of monetary unions. Suggests events that could lead to the failure of the European monetary integration that (after this article was written) led to the introduction of the Euro.
 A Yankee Recipe for a EuroFed Omelet Wall Street Journal/Europe, August 1, 1990. Reprinted in Economic Review (FRBR), July/August 1990. Reprinted in Central Banking, August 1990. Suggests that the nascent European Central Bank could be strengthened by dividing the bank in regional authorities whose boundaries do not coincide with national borders, much as Federal Reserve districts do not isolate states.
 International Trade and Payments Data Economic Review (FRBR). Sept/Oct 1991. Reprinted in Macroeconomic Data: A User's Guide, Roy H. Webb, ed. Explains how international trade and finance data are constructed. Suggests weaknesses in the methodologies and recommends some skepticism about overly literal interpretations of international data.
 Derivatives Made E-Z Cross Sections (FRBR). Fall 1994. Reprinted in Readings on Financial Institutions and Markets, 1995-1996 Edition (Irwin), Peter S. Rose, ed. Reprinted by NY Fed. Cross Sections, Fall 94 A primer on financial derivatives (futures, forwards, options, swaps).
 Security (not guns) and Butter; Cross Sections, FRBR, Winter 1992/93. Reprinted in Economics 93/94, ed. Don Cole, Dushkin Publishing Group; Guilford, CT, 1994. An essay on the post-Cold War "peace dividend."
 Defense Downsizing Capitol Forum, 5/93, Regional implications of post-Cold War military downsizing
 NAFTA, GATT y el Libre Comercio El Sol de Virginia, 1994, Introduction to the NAFTA agreement and its likely effects on the U.S. and Latin America.
 Los Terremotos Latinos Causan Temblores en Virginia El Sol de Virginia, 1995. Analysis of spillover effects in the U.S. from Latin-American economic turbulence.
 Gush, Gush, Sweet Charlotte Richmond Times-Dispatch, 1990. Critique of simplistic intercity economic comparisons.
Equilibria: This was an economic education magazine that I created, edited, and wrote for.
 Equilibria #1, 1996/97. The importance of considering secondary effects of economic events.
 Equilibria #1, 1996/97. The Fed's limited capacity to influence interest rates and real growth.
 Equilibria #1. Introduction to public choice economics.
 Equilibria #2. 1996/97. When economists wear too many hats.
 Equilibria #2. 1996/97. Problematic measures of health care inflation.
 , Equilibria #2. 1996/97. Physicians don’t like thinking about costs
 Equilibria #3, 1997/98. Simplistic readings of trade data and Alfred Hitchcock's Rear Window
 Equilibria #3, 1997/98. Why economists have trouble explaining the virtues of free trade.
 Equilibria #4, 1997/98. The isolated high school economics teacher.
 Equilibria #4, 1997/98. How inflation complicates conversations with your grandfather.
 Equilibria #4, 1997/98. How currency resembles Mickey Mantle or Michael Jordan cards.
 Equilibria #4, 1997/98. Primer on experimental economics.
 Equilibria #5, 1998/99. The Center for Economic Education at Gallaudet University.
 Equilibria #5, 1998/99. The interrelationships between language and economics.
 Equilibria #5, 1998/99. How compound interest casts doubt on the possibility of time travel.
 Equilibria #5, 1998/99. Reviews of three excellent layman's introductions to economics
 Equilibria #6, 1998/99. Why adjacent passengers on a flight pay vastly different fares?
 Equilibria #6, 1998/99. The economics of 19th century cattle drives via B. Traven.
 Equilibria #6, 1998/99. Why short selling is an essential component of finance.
 Equilibria #7. 2001/02. A brief introduction to behavioral economics.
 Equilibria #7,2001/02. Why behavioral economics bothers mainstream economists.
 (Alex Rothenberg, co-author) Equilibria #7, 2001/02, Is it rational to vote?