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The Federal Reserve Bank of St. Louis Review
A bimonthly research journal intended for an economically informed but broad readership—from the undergraduate student to the PhD. In print and online.
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MARCH/APRIL 2013 Vol. 95, No. 2
The Future of Community Banks: Lessons from Banks That Thrived During the Recent Financial Crisis
The authors study the distinguishing features of community banks that maintained the highest supervisory ratings during the recent financial crisis (2006 to 2011). They identify balance sheet and income statement ratios that separate these thriving banks from other community banks and supplement that analysis with detailed interview evidence from a sample of thriving banks ...
Price-Level Targeting and Stabilization Policy
The authors construct a dynamic stochastic general equilibrium model to study optimal monetary stabilization policy. Prices are fully flexible and money is essential for trade...
Intertemporal Discounting and Policy Selection
The choice of the intertemporal discount rate affects the measurement of the tax burden of different age cohorts. Small changes in the discount rate affect not only the magnitude of the measured changes, but also the ranking of policies using that metric...
JANUARY/FEBRUARY 2013 Vol. 95, No. 1
Why Did Young Families Lose So Much Wealth During the Crisis? The Role of Homeownership
The authors use the Federal Reserve’s Survey of Consumer Finances to document a boom in home ownership and mortgage borrowing among young families in the years leading up to the recent financial crisis. Many young families lost more of their wealth during the downturn than middle-aged and older families. The authors find ...
NOTE: The associated data/program with this paper is too large. Should you have any interest in the data/program, please contact Bryan via bryan.j.noeth@stls.frb.org.
U.S. Manufacturing and the Importance of International Trade: It’s Not What You Think
The public often gauges the strength of the U.S. economy by the performance of the manufacturing sector, especially by changes in manufacturing employment. When such employment declines, as has been the trend for many years, it is often assumed ...
Four Stories of Quantitative Easing
This article describes the circumstances of and motivations for the quantitative easing programs of the Federal Reserve, Bank of England, European Central Bank, and Bank of Japan during the recent financial crisis and recovery. The programs initially ...
International Trade, Female Labor, and Entrepreneurship in MENA Countries
Middle Eastern and North African (MENA) countries stand out in international comparisons of de jure obstacles to female employment and entrepreneurship. These obstacles manifest themselves in low rates of female labor participation, entrepreneurship, and ownership. Recent research suggests ...
