This paper employs an analytic reconnection model to investigate the conditions under which Hall currents can influence reconnection and Ohmic dissipation rates. It is first noted that time dependent magnetohydrodynamic systems can be analyzed by decomposing the magnetic and velocity fields into guide field and reconnecting field components. A formally exact solution shows that Hall currents can speed up or slow down the reconnection rate depending on the strength and orientation of the axial guide field. In particular, merging solutions are developed in which the axial guide field is the dominant driver of the reconnection. The extent to which Hall currents can alleviate the buildup of back pressures in flux pile-up reconnection models is also examined. The analysis shows that, although enhancements of the merging rate can be expected under certain conditions, it is unlikely that Hall currents can completely undo the fundamental pressure limitations associated with flux pile-up reconnection.