Ronald A. Ratti

        Department of Economics, University of Missouri-Columbia







Middlebush Professor of Economics


Contact Information:

125 Professional Building

Department of Economics

University of Missouri

Columbia, MO 65211

Tel: (573) 882-6474






Ph.D: Economics, Southern Methodist University, 1975

BA: Economics, University of Lancaster, England,  1970


Major Fields:

Macroeconomics, Monetary Economics, International Financial Economics


Professional Experience:
Visiting Fulbright Scholar, Korea Institute Finance, & Fulbright Professor, Korea University, Seoul, March 1997 - June 1997
Visiting Fulbright Professor, Korea University, Seoul, February 1996 - July 1996
Academic Visitor, London School of Economics and Political Science, Summer Term 1985
Visiting Scholar, Federal Reserve Bank of St. Louis, August 1984 - May 1985
Visiting Scholar, Federal Reserve Bank of Kansas City, May 1978 - December 1978

Teaching Awards:

Provost Leadership in International Education Award, 2003

Purple Chalk Award for Teaching Excellence - College of Arts and Science Student Government, 2003

Gold Chalk Award for "Excellence in Graduate Student Education, Training, and Development," Graduate and Professional Student Association, 1993-1994


Selected Publications (some PDF links)

"Conservative Central Banks and Nominal Growth, Exchange Rate, and Inflation Targeting" (with S. K. Bae). Forthcoming in Economica.


“Political Influence and the Banking Sector: Evidence from Korea” (with J. An and S. K. Bae), Oxford Bulletin of Economics and Statistics 69-1 February 2007, 75-98.


“Economic Activity, Foreign Exchange Rate, and the Interest Rate During the Asian Crisis” (with J. Kim), Journal of Policy Modeling 28-4 May 2006, 387-402.


“Do Main Banks Extract Rents from their Client Firms? Evidence from Korean Chaebol " (with Y. Kim, K. Park, H Shin),  Hitotsubashi Journal of Economics 45-1 June 2004, 15-45.


"Alternative indicators to predict the probability of declining inflation", (with S. Kang and K. Park), Cambridge Journal of Economics, 28-1 January 2004, 37-57.


“On the Predictive Power of the Term Structure of Interest Rates for Future Inflation in the Presence of Political Instability” (with E. Telatar and F. Telatar), Journal of Policy Modeling, 25-9 December 2003, 931-946.


 "Multiple Equilibria and Currency Crisis: Evidence for Korea" (with J. Seo), Journal of International Money and Finance, 22-5, October 2003, 681-696.

"On Optimal Contracts for Central Bankers and Inflation and Exchange Rate Targeting Regimes," Journal of Money, Credit and Banking, 34-3, August 2002, 678-685.

"Long-Run Neutrality, High Inflation, and Bank Insolvencies in Argentina and Brazil," with S.K. Bae, Journal of Monetary Economics, 46-3, December 2000, 581-604.

"Effects of Unanticipated Monetary Policy on Aggregate Japanese Output: The Role of Positive and Negative Shocks", with J. Chu. Canadian Journal of Economics 30-3 (August 1997): 722-741.

"On the Stabilizing Properties of a Nominal GNP Rule: Comment on Frankel and Chinn", Journal of Money, Credit, and Banking 29-2 (May 1997): 263-269.

Oil and the Macroeconomy: The Role of Price Variability", with K. Lee and X. Ni). The Energy Journal 16-4 (1995): 39-56. Working paper in PDF.

"Variation in the Real Exchange Rate as a Source of Currency Substitution," with B. Jeong. Journal of International Money and Finance, 15-5 (October 1994): 537-550.

"On Seigniorage, Operating Rules and Dual Equilibria," with K. Lee. Quarterly Journal of Economics, 108-2 (May 1993):        543-550.

"The Effects of Inflation Surprises and Uncertainty on Real Wages", The Review of Economics and Statistics 67-2, May 1985, 309-314.

"Sectoral Employment Variability and Unexpected Inflation," The Review of Economics and Statistics, 67-2 (May 1985): 278-283.

"Bank Attitude Toward Risk, Implicit Rates of Interest, and the Behavior of an Index of Risk Aversion for Commercial Banks," Quarterly Journal of Economics, 95-2 (September 1980): 309-331.

"Stochastic Reserve Losses and Bank Credit Expansion", Journal of Monetary Economics 5-2 (April 1979): 283-294.

"The General Equilibrium Theory of Tax Incidence Under Uncertainty", with P. Shome. Journal of Economic Theory 14-1 (February 1977): 68-83.

"Uncertainty in Production and the Competitive Firm", with A. Ullah. Southern Economic Journal 42-4 (April 1976): 703-710.

See also Working Papers

Copyright © 1999 MU.