#2009-030A "Does Money Matter in Inflation Forecasting?"
by Jane M. Binner, Peter Tino, Jonathan Tepper, Richard G. Anderson, Barry Jones, and Graham Kendall
June 2009

This paper provides the most fully comprehensive evidence to date on whether or not monetary aggregates are valuable for forecasting US inflation in the early to mid 2000s. More...

#2009-025A "Dynamics in Systematic Liquidity"
by Björn Hagströmer, Richard G. Anderson, Jane M. Binner, and Birger Nilsson
May 2009

We develop the principal component analysis (PCA) approach to systematic liquidity measurement by introducing moving and expanding estimation windows. We evaluate these methods along with traditional estimation techniques (full sample PCA and market average) in terms of ability to explain (1) cross-sectional stock liquidity and (2) cross-sectional stock returns. More...

#2008-003A "Offshoring, Economic Insecurity, and the Demand for Social Insurance"
by Richard G. Anderson, and Charles S. Gascon
January 2008

The fear of offshoring, particularly in services since 2000, has raised workers economic insecurity and heightened concerns over future economic globalization. Many have argued that globalization has exacerbated labor market turbulence increasing the demand for social insurance programs. More...

#2007-016D "Mean-Variance vs. Full-Scale Optimization: Broad Evidence for the UK"
by Björn Hagströmer, Richard G. Anderson, Jane M. Binner, Thomas Elger, and Birger Nilsson
April 2007
Revised October 2007

Portfolio choice by full-scale optimization applies the empirical return distribution to a parameterized utility function, and the maximum is found through numerical optimization. More...

PUBLISHED: The Manchester School, September 2008, 76(Sup. 1), pp. 134-56

#2007-011A "Handicapping Currency Design: Counterfeit Deterrence and Visual Accessibility in the United States and Abroad"
by Marcela M. Williams, and Richard G. Anderson
March 2007
Revised June 2007

Despite the increasing use of electronic payments, currency retains an important role in the payment system of every country. In this article, the authors compare and contrast tradeoffs among currency design features, including those primarily intended to deter counterfeiting and ones to improve usability by the visually impaired. More...

PUBLISHED: Federal Reserve Bank of St. Louis Review, September/October 2007, 89(5), pp. 371-414

#2007-004A "The Perils of Globalization: Offshoring and Economic Insecurity of the American Worker"
by Richard G. Anderson, and Charles S. Gascon
February 2007

According to polls from the 2006 congressional elections, globalization and economic insecurity were the primary concerns of many voters. More...

#2006-050A "Analysis of Panel Vector Error Correction Models Using Maximum Likelihood, the Bootstrap, and Canonical-Correlation Estimators"
by Richard G. Anderson, Hailong Qian, and Robert H. Rasche
August 2006

In this paper, we examine the use of Box-Tiao’s (1977) canonical correlation method as an alternative to likelihood-based inferences for vector error-correction models. More...

#2006-049A "Monetary Base"
by Richard G. Anderson
August 2006

This brief essay is a working draft of an article in preparation for the forthcoming International Encyclopedia of the Social Sciences, 2nd ed., examining the role of the monetary base in monetary economics and monetary policymaking. More...

PUBLISHED: in William A. Darity, Jr., ed., International Encyclopedia of the Social Sciences, February 2008, Macmillan Reference USA.

#2005-067A "Productivity Measurement and Monetary Policymaking During the 1990s"
by Richard G. Anderson, and Kevin L. Kliesen
October 2005

The acceleration of productivity growth during the latter half of the 1990s was both the defining economic event of the decade and a major topic of debate among Federal Reserve policymakers. A key aspect of the debate was the conflict between incoming aggregate data, which initially suggested little productivity gain, and anecdotal firm-level evidence which hinted at an acceleration. More...

#2005-023A "A Specialized Inventory Problem in Banks: Optimizing Retail Sweeps"
by Suresh K. Nair, and Richard G. Anderson
April 2005

Deposits held at Federal Reserve Banks are an essential input to the business activity of most depository institutions in the United States. Managing these deposits is an important and complex inventory problem, for two reasons. More...

PUBLISHED: Production Optimization and Management Science, May 2008, 17(3), pp. 285-95