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John Carlson

John Carlson

Professor Emeritus of Economics


Ph.D., Political Economy, Johns Hopkins University
B.S., Mathematics, Denison University, 1955

Professor Carlson has taught courses in monetary international economics and macroeconomics. His research interests include uses of economic survey data, influences on exchange rates, and firms' price-setting decisions. He has had visiting appointments at Cornell (1961-62); the Brookings Institution (1967-68); the University of Manchester (1971-72); University College, London (1980); University of Sydney (1987); and Victoria University of Wellington (1994).Among his publications are "A Study of Price Forecasts," Annals of Economic and Social Measurement (1977); "Discrete Equilibrium Price Dispersion" (with R.P. McAfee), Journal of Political Economy (1983); "Beyond the Lecture: Case Teaching and the Learning of Economic Theory" (with D. Schodt), Journal of Economic Education (1995); "Risk Aversion, Foreign Exchange Speculation and Gambler's Ruin,"  Economica (1998); "Rational Speculators and Exchange Rate Volatility" (with C.L. Osler), European Economic Review (2000); and "One Minute in the Life of the DM/$: Public News in an Electronic Market" (with M. Lo) Journal of International Money and Finance (forthcoming). Professor Carlson is a member of the American Economic Association and the International Economics and Finance Society. He has been with Krannert since 1962.

Journal Articles

  • Carlson, J., & Lo, M. (2004). Selective Asymmetric Intervention and Sterilization. Applied Financial Economics, vol. 14 (11), 823-833.
  • Carlson, J., & Valev, N. (2003). Sources of Dispersion in Consumer Inflation Forecasts. Applied Economics Letters, vol. 10 77-81.
  • Carlson, J., & Valev, N. (2002). A Disinflation Tradeoff: Speed Versus Final Destination. Economic Inquiry, vol. 40 450-456.
  • Carlson, J. (2002). Output Effects of Disinflation with Staggered Price Setting. Southern Economic Journal, vol. 69 947-956.
  • Carlson, J., & Valev, N. (2001). Credibility of a New Monetary Regime: The Currency Board in Bulgaria. Journal of Monetary Economics, vol. 47 581-594.
  • Carlson, J., & Buckle, R. (2000). Inflation and Asymmetric Price Adjustment. Review of Economics and Statistics, vol. 82 157-160.
  • Carlson, J., & Buckle, R. (2000). Menu Costs, Firm Size, and Price Rigidity. Economics Letters, vol. 66 59-63.
  • Carlson, J., & Osler, C. (2000). Rational Speculators and Exchange Rate Volatility. European Economic Review, vol. 44 231-253.
  • Carlson, J. (1998). Risk Aversion, Foreign Exchange Speculation, and Gambler's Ruin. Economica, vol. 65 441-453.
  • Carlson, J., & Buckle, R. (1998). Inflation and Asymmetric Output Adjustments by Firms. Economic Inquiry, vol. 36 215-228.
  • Carlson, J., & Schodt, D. (1995). Beyond the Lecture: Case Teaching and the Learning of Economic Theory. Journal of Economic Education, vol. 26 17-28.
  • Carlson, J., & Kim, I. (1994). Leaning Against the Wind: Do Central Banks Necessarily Lose?. Review of International Economics, vol. 2 143-152.
  • Carlson, J., & Findlay, D. (1992). Relative Prices, Aggregate Prices, and Wage Indexation. Journal of Economics and Business, vol. 44 31-45.
  • Carlson, J. (1992). Some Evidence on Lump Sum Versus Convex Costs of Changing Prices. Economic Inquiry, vol. 30 322-331.
  • Carlson, J., & Findlay, D. (1991). Relative Price Dispersion and Unemployment. Journal of Macroeconomics, vol. 13 69-82.
  • Carlson, J., & Dunkelberg, W. (1989). Market Perceptions and Inventory-Price-Employment Plans. Review of Economics and Statistics, 318-324.


  • Carlson, J., & Buckle, R. (1998). Inflation and Asymmetric Output Adjustments: Test Using Business Survey Data; Social and Structural Change-Consequences for Business Cycle Surveys. Ashgate Publishing, 131-146.
  • Carlson, J. (1997). Leads and Lags, in Business Cycles and Depressions: An Encyclopedia. Garland Publishing Company, 386-387.
  • Carlson, J., & Buckle, R. (1996). Price Duration with Two-Sided Pricing Rules; K. H. Oppenlander and G. Poser. Ashgate Publishing Co, 99-118.

Book Chapters

  • Carlson, J., & Valev, N. (2002). The Evolution of Expectations of Disinflation: The Case of Bulgaria. OECD, 371-386.
  • Carlson, J., & Buckle, R. (2000). Menu Cost, Firm Size and Price Rigidity: Evidence from Business Survey Data. Ashgate, 279-290.
  • Carlson, J. (1992). Economic Surveys and the Scientific Method. Ashgate Publishing Co.,
  • Carlson, J. (1990). Cross Section Evidence on Some Macroeconomic Hypotheses. Avebury, 105-123.


Area(s) of Expertise

Exchange rates, Macroeconomics, Pricing, Inflation, Economics