Russell Boyer has been in the economics department of the University of Western Ontario for more than four decades, maintaining his interest throughout in the structure of the open economy macromodel. During this period he has had leaves to attend the London School of Economics, Carnegie Mellon University, the Federal Reserve Bank of Atlanta, and the School of Economics at the University of New South Wales.

Boyer has published in the American Economic Review, the Journal of Political Economy, and the Journal of Monetary Economics, as well as in numerous conference volumes. Boyer was a visiting fellow at the Milton Friedman Institute during the 2010–11 academic year. During his time as a national fellow at Hoover, Boyer intends to continue the research that he has conducted during the past ten years into the interactions among Friedman, Johnson, and Mundell, specifically on the macrotopics that were current during the time they were together at the University of Chicago.