Jerry H. Tempelman, CFA

Jerry H. Tempelman is a Sovereign Credit Analyst with the Capital Markets Research Group of Moody’s Analytics in New York. He was previously a Senior Financial and Economic Analyst with the Federal Reserve Bank of New York, a high yield debt portfolio manager with Intrepid Capital Management in Jacksonville, Fla., and a high yield bond trader with Putnam Investments in Boston. Mr. Tempelman holds the Chartered Financial Analyst designation, and is a member of the CFA Institute, the American Finance Association, and the American Economic Association. His writings have been published in peer-reviewed journals such as Financial Analysts Journal, the Journal of Portfolio Management, and the Journal of Economic Perspectives.

 CV can be found here.

 

 

Contact information:
P.O. Box 230116
New York, NY 10023-0002
j48t@yahoo.com

PUBLICATIONS

Monetary policy

“Against Quantitative Easing by the European Central Bank”, Guest Editorial in Financial Analysts Journal, vol. 68, no. 4 (July/August 2012), pp. 4–6
             Cited by Rodney N. Sullivan, “Global Trade Imbalances Matter”, Financial Analysts Journal, vol. 68,
            no. 6 (November/December 2012), pp. 4–6

“Why Do Federal Funds Trade at the FOMC’s Target Rate?”, The Cato Journal, vol. 31, no. 2 (Spring/Summer 2011), pp. 367-375

“The Great Mandate Debate”, Credit magazine, vol. 12, no. 5 (May 2011), p. 8

Book review of Andrew Smithers, Wall Street Revalued: Imperfect Markets and Inept Central Bankers, Hoboken, N.J.: Wiley & Sons, 2009, in Financial Analysts Journal, vol. 67, no. 2 (March/April 2011), pp. 78–79

Book review of Allan H. Meltzer, A History of the Federal Reserve, vol. 2: 1951–1986, Chicago: University of Chicago Press, 2009, in Financial Analysts Journal, vol. 67, no. 1 (January/February 2011), pp. 87–89

“In Denial over Monetary Policy”, Credit, vol. 11, no. 11 (December 2010), p. 10 

“Gold Glitters but Has Drawbacks as a Disciplinarian”, Wall Street Journal, Letter to the Editor, 12 November 2010, p. A18

“The Fed does not want debt monetization”, FT Alphaville guest post, 20 August 2010
            Mandarin translation published in China in CBN Newspaper, 26 August 2010, p. A7
            Cited in The Japan Investor, 30 August 2010, p. 3 

“Cause and Effect”, Credit, vol. 11, no. 4 (April 2010), p. 16

“Austrian Business Cycle Theory and the Global Financial Crisis: Confessions of a Mainstream Economist”, Quarterly Journal of Austrian Economics, vol. 13, no. 1 (Spring 2010), pp. 1–15 
            Cited by Joseph T. Salerno, Money: Sound and Unsound, Auburn,
            Ala.: Mises Institute, 2010, p. xxn23
            Cited in Wikipedia entry on the Austrian School of Economics

“Will the Federal Reserve Monetize U.S. Government Debt?”, Financial Analysts Journal, vol. 65, no. 6 (November/December 2009), pp. 24–27 
            Cited by Laurence B. Siegel, “A Riskless Society is ‘Unattainable and Infinitely
            Expensive’ ”, Insights into the Global Financial Crisis, Charlottesville, Va.: Research
            Foundation of CFA Institute, 2009

“The Financial Crisis and the Implementation of Monetary Policy”, Business Economics, vol. 44, no. 4 (October 2009), pp. 216–219
              Cited by Saad Ahmad, "A Tale of Two Central Banks: How the Federal Reserve and Bank of
            England Responded to the Financial Crisis of 2007", Kansas State University, 2010

“Discount Rate Requests and the Federal Funds Target Rate”, Monetary Growth: Trends, Impacts and Policies, eds. William N. Squires and Charles P. Burdock, Hauppauge, NY: Nova Science Publishers, 2009, pp. 77–86 

Book review of Richard Apostolik, Christopher Donohue, and Peter Went, Foundations of Banking Risk: An Overview of Banking, Banking Risks and Risk-Based Banking Regulation, Hoboken, N.J.: John Wiley & Sons, 2009, in CFA Institute Book Reviews, 2009

Book review of George Cooper, The Origin of Financial Crises: Central Banks, Credit Bubbles and the Efficient Market Fallacy, New York: Vintage, 2008, in CFA Institute Book Reviews, 2009

“The Depoliticization of Monetary Policy”, Business Economics, vol. 43, no. 2 (April 2008), pp. 16–22 
            Cited by Tom Gallagher et al., “Morning Policy Report”, Washington: ISI Group,
            5 November 2008
            Cited by Danielle Hale, “Election Year Changes at the Fed: What’s to come?”,
            Economist’s Commentary, National Association of Realtors, 24 June 2008

“A Case Against Explicit Inflation Targeting”, presented at the annual meeting of the American Economic Association, New Orleans, Louis., 4 January 2008
            Cited by Alfred Tella, “Economics on their Minds”, Washington Times, 13 January 2008  

“A Commentary on ‘Does the Fed Contribute to a Political Business Cycle?’ ”, Public Choice, vol. 132, no. 3–4 (September 2007), pp. 433–436 
            Cited by Niklas Potrafke, “Political Cycles and Economic Performance in OECD Countries: Empirical
            Evidence from 1951–2006”, Public Choice, vol. 150, no. 1 (January 2012), pp. 155–179
            Cited by Ansgar Belke & Niklas Potrafke, “Does Government Ideology Matter
            in Monetary Policy? – A Panel Data Analysis for OECD Countries”, Ruhr
            Economic Papers #94, Rheinisch-Westfälisches Institut für Wirtschaftsforschung,
            Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen, 2009
            Cited by Niklas Potrafke, “Political cycles and economic performance in OECD
            countries: empirical evidence from 1951-2006”, MPRA Paper 23751, University
            Library of Munich, Germany, 2010
            Cited by Mario Mechtel and Niklas Potrafke, “Political Cycles in Active Labor Market Policies”,
            MPRA Paper 22780, University Library of Munich, Germany, 2009 (revised May 2010)
            Cited by Gernot Sieg and Ulrike Stegemann, “Strategic Debt Management within the Stability
            and Growth Pact”, Technische Universität Braunschweig, Economics Department Working
            Paper Series No 05, April 2009

Taxation

“Does ‘Starve the Beast’ Work?”, The Cato Journal, vol. 26, no. 3 (Fall 2006), pp. 559–572
            Mentioned by Frank Conte, “From the ground up”, blog

“Fairness and the Case for Lump-Sum Taxation”, presented at the 95th Annual Conference on Taxation, National Tax Association, Orlando, Fla., 16 November 2002  

Government debt finance

“James M. Buchanan on Public-Debt Finance”, The Independent Review, vol. 11, no. 3 (Winter 2007), pp. 435–449
            Cited by Aleksandra Nikolić, Rajko Tepavac, and Milenka Jezdimirović,
            “The European Union Between Monetary and Fiscal Union”, Ekonomika preduzeća,
            vol. 60, no. 3–4 (2012), pp. 179–189
            Mentioned in George Mason University’s Center for Study of Public Choice
            Annual Report 2008

“ ‘Not All Deficits Are Created Equal’: A Comment”, Financial Analysts Journal, vol. 62, no. 6 (November/December 2006), p. 12 

Entitlement programs

“ ‘Do the Markets Care about the $2.4 Trillion U.S. Deficit?’: Comment”, Financial Analysts Journal, vol. 63, no. 4 (July/August 2007), p. 11
            Cited by Robert Snigaroff, “The slow motion crash and the U.S. ‘lost decade’ ”,
            La Jolla, Calif.: Denali Advisors Research Review, 3^rd quarter 2008, p. 3n10
            Cited by Path Partners LLC, “Prescient Value”, 4^th Quarter 2007

“When Will Social Security Shortfalls Begin to Pinch?”, Business Economics, vol. 41, no. 3 (July 2006), pp. 40–43

Macroeconomics

Book review of Carmen M. Reinhart and Kenneth S. Rogoff, A Decade of Debt, Washington: Peterson Institute for International Economics, 2011, in Financial Analysts Journal, vol. 68, no. 2 (March/April 2012), pp. 124–125

Book review of Jim O’Neill, The Growth Map: Economic Opportunity in the BRICs and Beyond, New York: Penguin, 2011, in CFA Institute Book Reviews, forthcoming

Book review of Glenn Hubbard and Peter Navarro, Seeds of Destruction: Why the Path to Economic Ruin Runs Through Washington, and How to Reclaim American Prosperity, Upper Saddle River, N.J.: FT Press, 2011, in Financial Analysts Journal, vol. 67, no. 1 (January/February 2011), pp. 90–91

Book review of Hunter Lewis, Where Keynes Went Wrong: and Why World Governments Keep Creating Inflation, Bubbles, and Bursts, Mount Jackson, Virg.: Axios Press, 2009, in Financial Analysts Journal, vol. 66, no. 6 (November/December 2010), pp. 101–102

Book review of Viral V. Acharya and Matthew Richardson, eds., Restoring Financial Stability: How to Repair a Failed System, Hoboken, N.J.: John Wiley & Sons, 2009, in Financial Analysts Journal, vol. 65, no. 6 (November/December 2009), pp. 100–101 

Book review of John B. Taylor, Getting Off Track: How Government Actions and Interventions Caused, Prolonged and Worsened the Financial Crisis, Stanford, Calif.: Hoover Institution Press, 2009, in Business Economics, vol. 44, no. 3 (July 2009), pp. 182–183

“ ‘When Will Housing Recover?’: A Comment”, Financial Analysts Journal, vol. 65, no. 3 (May/June 2009), pp. 12–14

Book review of Brian Snowdon and Howard R. Vane, Modern Macroeconomics: Its Origins, Development and Current State, Northampton, Mass.: Edward Elgar Publishing, 2005, in The Quarterly Journal of Austrian Economics, vol. 9, no. 1 (Spring 2006), pp. 83–88

Financial economics 

Book review of Robert Levine, How to Make Money with Junk Bonds, New York: McGraw-Hill Cos., 2012, in Financial Analysts Journal, vol. 68, no. 5 (September/October 2012), pp. 107–108

“Ahead of the Curve”, Credit magazine, vol. 12, no. 2 (February 2011), p. 12

Book review of David Spaulding and James A. Tzitzouris, Jr., eds., Classics in Investment Performance Measurement, Somerset, N.J.: TSG Publishing, 2009, in Financial Analysts Journal, vol. 66, no. 5 (September/October 2010), p. 94

Book review of Joshua Rosenbaum and Joshua Pearl, Investment Banking: Valuation, Leveraged Buyouts, and Mergers & Acquisitions, Hoboken, N.J.: John Wiley & Sons, 2009, in Financial Analysts Journal, vol. 66, no. 4 (July/August 2010), p. 111

“Fear Overrides Fundamentals”, Credit, vol. 11, no. 7 (July/August 2010), p. 18
            Cited by Izabella Kaminska, “Correlated returns, high-yield edition”,
            Financial Times’ Alphaville blog, 16 July 2010   

Book review of Harold L. Vogel, Financial Market Bubbles and Crashes, New York: Cambridge University Press, 2010, in Business Economics, vol. 45, no. 3 (July 2010), pp. 228–229

Book review of Martin J. Whitman and Fernando Diz, Distress Investing: Principles and Technique, Hoboken, N.J.: John Wiley & Sons, 2009, in Financial Analysts Journal, vol. 66, no. 2 (March/April 2010), p. 78

“Price Transparency in the U.S. Corporate Bond Markets”, Journal of Portfolio Management, vol. 35, no. 3 (Spring 2009), pp. 27–33
            Republished in Liquidity Challenges in Traditional and Alternative Markets
            (lead article) and in Hot Topics for Corporate Bond Investors, Institutional
            Investor Journals, November 2009

“Comment on ‘Transparency and the Corporate Bond Market’ ”, Journal of Economic Perspectives, vol. 22, no. 4 (Fall 2008), pp. 225–226

Book review of Donald MacKenzie, An Engine, Not a Camera: How Financial Models Shape Markets, Cambridge, Mass.: MIT Press, 2006, in Financial Analysts Journal, vol. 63, no. 5 (September/October 2007), pp. 102–103

Book review of Mark Rubinstein, A History of the Theory of Investments: My Annotated Bibliography, Hoboken, N.J.: John Wiley & Sons, 2006, in Financial Analysts Journal, vol. 63, no. 1 (January/February 2007), pp. 100–101
            Cited by Luca Barone, Goldman Sachs International (London), “The Tree of
            Financial Economics”, Working Paper SSRN Abstract No. 1123484, 21 April 2008

Other

Book review of Alan Greenspan, The Age of Turbulence: Adventures in a New World, New York: Penguin Press, 2007, in Business Economics, vol. 43, no. 2 (April 2008), pp. 77–78

“The Optimism/Pessimism Thesis”, Mensa Bulletin, No. 508 (September 2007), p. 39

Letters to the Editor in The Wall Street Journal, The New York Times, The Washington Post, The Economist, Barron’s, The American Scholar, and CFA Magazine