Dr. Graves' research is in four broad areas: 1) He works in monetary economics and macroeconomic modeling, with concerns regarding the income elasticity of the money demand function and, more recently, endogenous growth and business cycle modeling with two types of technological change. 2) He has worked extensively in the theoretical and empirical modeling of human migration and amenities, importantly climate variation. 3) He has been exploring the policy implications of a heretofore unrecognized flaw in the valuation of public goods, a flaw that implies that benefit-cost analysis of public goods is being conducted at the wrong income levels, where all of the ungenerated income would have been spent on the public good, apart from general equilibrium considerations. 4) He is engaged in several areas of applied microeconomoics, with recent contributions to the teaching of economics among other topics.
human migration and amenities, public goods, environmental valuation, fiscal policy, macroeconomic growth and business cycle models, monetary economics, applied microeconomics