1. List of Publications: Leonard Mills
Below is a list of articles that are available in the “public domain” and not involved
with proprietary research.
Published Articles
Testing Neoclassical Convergence in Regional Incomes and Earnings. (with Gerald
A. Carlino) Regional Science and Urban Economics 26, 1996, pp 565-590.
Convergence and the U.S. States: A Time Series Analysis. (with Gerald A. Carlino)
Journal of Regional Science 36, No. 4, 1996, pp 597-616.
Are U.S. Regional Incomes Converging? Reply (with Gerald A. Carlino) Journal of
Monetary Economics 38, 1996, pp 599-601.
Tests of Long-Run Neutrality Using Permanent Real and Monetary Shocks.(with
John F. Boschen) Journal of Monetary Economics 35, February 1995, pp. 25-44.
The Relation Between Money Market and Narrative Indicators of Monetary Policy.
(with John F. Boschen) Economic Inquiry XXXIII, January 1995, pp. 24-45.
International Evidence on the Predictability of Stock Returns. (with Steven J.
Cochran and Robert H. Defina) Financial Review, May 1993, pp 159-180.
Are U.S. Regional Incomes Converging? A Time Series Analysis. (with Gerald A.
Carlino) Journal of Monetary Economics 32, 1993, pp. 335-346.
Understanding National and Regional Housing Trends. Business Review, Federal
Reserve Bank of Philadelphia, September/October 1991, pp. 15-23.
Forecasting Trends in the Housing Stock Using Age-Specific Demographic
Projections. (with Theodore M. Crone) Journal of Housing Research 2, 1991, pp.
1-20.
The Role of Commodity Prices in Formulating Monetary Policy. (with Brian J.
Cody) The Review of Economics and Statistics, Vol. 73, No. 2, May 1991
Tests of the Relation Between Money and Output in the Real Business Cycle Model.
(with John F. Boschen) Journal of Monetary Economics 22, November 1988, pp.
355-374.
Monetary Policy with a New View of Potential GNP. (with John F. Boschen)
Business Review, Federal Reserve Bank of Philadelphia, July/August 1990, pp. 1-
10.

2. (1) Reprinted in Annual Editions: Money and Banking (Guilford CT:
Dushkin Publishing) 1991.
(2) Reprinted in Readings in The Economics of Money, Banking, and
Financial Markets, 3rd Edition, James W. Eaton and Frederic S. Mishkin,
(New York: Harper Collins Publishers) 1992.
Can Stock Prices Reliably Predict Recessions. Business Review, Federal Reserve
Bank of Philadelphia, September/October 1988, pp. 3-14.
Prospective Monetary Policy and the Empirical Relation Between Money and
Output. (with John F. Boschen) Economics Letters 17, May 1985, pp. 359-364.
Unpublished Working Papers (not included above)
Vector-autoregression Forecast Models for the Third District States (with Theodore
M. Crone and Sherry Delaney), Working Paper 92-19, Federal Reserve Bank of
Philadelphia, September 1992.
Testing for Cointegration in the Presence of Moving Average Errors (with John F.
Boschen), Working Paper 88-11, Federal Reserve Bank of Philadelphia, 1988.