#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...

FORTHCOMING: The Manchester School

#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

#2005-014C "The Role of Data & Program Code Archives in the Future of Economic Research"
by Richard G. Anderson, William H. Greene, Bruce D. McCullough, and H. D. Vinod
February 2005
Revised July 2005

This essay examines the role of data and program-code archives in making economic research "replicable." Replication of published results is recognized as an essential part of the scientific method. Yet, historically, both the "demand for" and "supply of" replicable results in economics has been minimal. More...

PUBLISHED: Journal of Economic Methodology, March 2008, 15(1), pp. 99-119

#2003-026A "Retail Deposit Sweep Programs: Issues for Measurement, Modeling and Analysis"
by Richard G. Anderson
September 2003

Since January 1994, many banks in the United States have initiated retail-deposit sweep programs which reduce statutory reserve requirements by re-labeling transaction deposits as money market deposit accounts. As a result, approximately half of aggregate transaction deposits are now excluded from M1. More...