Henry W. Chappell, Jr.
Entry in Who's Who in Economics

1.   Background Information

1. Chappell, Henry Warriner, Jr.  2. Born 1952 Richmond , VA   3. Professor of Economics, University of South Carolina , Columbia , SC  4. Assistant Professor, University of Alabama , Tuscaloosa , AL   5. Ph.D. Yale University , 1979  6. Phi Beta Kappa, Omicron Delta Epsilon  7. Editorial Board Studies in Economics and Finance, 1984-1985,1996-1997 Associate Editor International Journal of Business, 1996-1997 8. Fields: D7, E5

Statement of Contributions to Economics

Professor Chappell has studied topics that link economics with political science. His dissertation studied the effects of interest group campaign contributions on congressional voting on regulatory matters. This work developed and popularized econometric methods that have been widely used in subsequent research on this topic.

His later research has focused on the politics of macroeconomic policymaking. With William Keech he developed a critique and reinterpretation of studies which have purported to link economic conditions to voting outcomes and political support in national elections. This work questions the view that the electorate behaves in a naďve, retrospective fashion in evaluating incumbents. Also with Keech, he introduced a model of partisan business cycles that relies on election surprises to induce cycles in a macroeconomic model with rational expectations. Similar models were developed simultaneously and independently by Alberto Alesina and others.

His most recent work applies voting models to Federal Reserve decision-making on monetary policy issues. This work, undertaken with Rob Roy McGregor, Thomas Havrilesky, and Todd Vermilyea, has developed unique data sets to code the preferences of individual policymakers at the Federal Reserve. The data have been used to investigate the power of the Federal Reserve Chairman and the influence of politic pressures on monetary policy decisions.

Selected Publications  

1.      With Rob Roy McGregor and Thomas Havrilesky,  “Monetary Policy Preferences of Individual FOMC Members: A Content  Analysis of the Memoranda of Discussion,” Review of Economics and Statistics, 79 (August 1997), pp. 454-460.     

2.      “Campaign Advertising and Political Ambiguity,” Public Choice, 79, (Nos. 3-4, 1994), pp. 281-304.  

3.      With Rob McGregor and Thomas Havrilesky, “Partisan Monetary Policies: Presidential Influence through the Power of Appointment,” Quarterly Journal of Economics, 108 (February 1993), pp. 185-218.  

4.      “Economic Performance, Voting, and Political Support,” Review of Economics and Statistics, 72, (May 1990) pp. 313-320.  

5.      With William R. Keech, “The Unemployment Rate Consequences of Partisan Monetary Policies,”  Southern Economic Journal, 55, (July 1988) pp. 107-122.  

6.      With William R. Keech, “A New View of Political Accountability for Economic Performance,”  American Political Science Review, 79, (June 1985) pp. 10-27.  

7.      With William R. Keech, “Party Differences in Macroeconomic Policies and Outcomes,”  American Economic Review Papers and Proceedings, 76, (May 1986) pp. 71-74.  

8.      “Economic Performance and Presidential Popularity:  Are Voters Really So Naive?”  Review of Economics and Statistics, 65 (August 1983), pp. 385-92.  

9.      With John T. Addison,  “Relative Prices, Concentration, and Money Growth,  American Economic Review, 73 (December 1983), pp. 1122-6.  

10.  “Campaign Contributions and Congressional Voting:  A Simultaneous Probit-Tobit Model,” Review of Economics and Statistics, 64 (February 1982), pp. 77-83.

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