William R. Melick joined Kenyon's Economics Department in 1998, after spending eleven years as a research economist at the Board of Governors of the Federal Reserve in Washington, D.C. While at the Fed, Melick spent one year on assignment at the Bank for International Settlements in Basel, Switzerland. He took a leave from Kenyon for the 2001-2002 academic year to serve for one year as a senior international economist at the President's Council of Economic Advisers in Washington. Since 2002, he has been affiliated with the Federal Reserve Bank of Cleveland as a research associate. Melick's primary research interest is the recovery of market expectations and measures of risk aversion from options markets, with applications to crude oil, foreign exchange, eurodollars, and federal funds. He also conducts research in international macroeconomics.

Education

M.A., Ph.D. Ohio State University
B.S. Indiana University

Selected Publications

"Option Prices, Exchange Market Intervention, and the Higher Moment Expectations Channel: A User's Guide," with Gabriele Galati, Patrick Higgins and Owen Humpage, International Journal of Finance and Economics, 12(2) April 2007, pp. 225-247.

"Recovering Market Expectations of FOMC Rate Changes with Options on Federal Funds Futures," with John B. Carlson and Ben R. Craig, Journal of Futures Markets, 26(12) December 2005, pp. 1203-1242.

"Foreign exchange market intervention and expectations: an empirical study of the yen/dollar exchange rate," with Gabriele Galati and Marian Micu, Journal of International Money and Finance, 24, October 2005, pp. 982-1011.

Courses Taught

ECON 101 Principles of Microeconomics
ECON 102 Principles of Macroeconomics
ECON 337 Portfolio Allocation and Financial Asset Pricing
ECON 343 Money and Financial Markets
ECON 373 The Economics of Globalization
ECON 375 Introduction to Econometrics