#2007-007A "Social Learning and Monetary Policy Rules"
by Jasmina Arifovic, James B. Bullard, and Olena Kostyshyna
March 2007

We analyze the effects of social learning in a widely-studied monetary policy context. More...

#2006-058C "Strategic Online-Banking Adoption"
by Roberto Fuentes, Rubén Hernández-Murillo, and Gerard Llobet
October 2006
Revised January 2008

In this paper we study the determinants of banks’ decision to adopt a transactional website for their customers. More...

#2006-055A "Trends in the Distributions of Income and Human Capital within Metropolitan Areas: 1980-2000"
by Christopher H. Wheeler, and Elizabeth A. La Jeunesse
October 2006

Human capital tends to have significant external effects within local markets, increasing the average income of individuals within the same metropolitan area. More...

#2006-048C "Red Ink in the Rearview Mirror: Local Fiscal Conditions and the Issuance of Traffic Tickets"
by Thomas A. Garrett, and Gary A. Wagner
August 2006
Revised July 2007

Municipalities have revenue motives for enforcing traffic laws in addition to public safety motives because many traffic offenses are punished via fines and the issuing municipality often retains the revenue. More...

FORTHCOMING: Journal of Law and Economics

#2006-041B "Robust Non-parametric Quantile Estimation of Efficiency and Productivity Change in U.S. Commercial Banking, 1985–2004"
by David C. Wheelock, and Paul Wilson
June 2006
Revised April 2007

This paper describes a non-parametric, unconditional, hyperbolic quantile estimator that unlike traditional non-parametric frontier estimators is both robust to data outliers and has a root-n convergence rate. More...

FORTHCOMING: Journal of Business and Economic Statistics

#2006-039B "Neighborhood Income Inequality"
by Christopher H. Wheeler, and Elizabeth A. La Jeunesse
June 2006
Revised February 2007

This paper offers a descriptive empirical analysis of the geographic pattern of income inequality within a sample of 359 US metropolitan areas between 1980 and 2000. More...

FORTHCOMING: Journal of Regional Science

#2006-037B "Urban Decentralization and Income Inequality: Is Sprawl Associated with Rising Income Segregation Across Neighborhoods?"
by Christopher H. Wheeler
May 2006
Revised November 2006

Existing research has found an inverse relationship between urban density and the degree of income inequality within metropolitan areas, suggesting that, as cities spread out, they become increasingly segregated by income. More...

#2006-027A "The Duration of Foreclosures in the Subprime Mortgage Market: A Competing Risks Model with Mixing"
by Anthony Pennington-Cross
April 2006

This paper examines what happens to mortgages in the subprime mortgage market once foreclosure proceeding are initiated. A multinominial logit model that allows for the interdependence of the possible outcomes or risks (cure, partial cure, paid off, and real estate owned) through the correlation of associated unobserved heterogeneities is estimated. More...

#2006-021B "The Determinants of Aid in the Post-Cold War Era"
by Subhayu Bandyopadhyay, and Howard J. Wall
April 2006
Revised October 2006

This paper estimates the responsiveness of aid to recipient countries’ economic and physical needs, civil/political rights, and government effectiveness. More...

PUBLISHED: in Sajal Lahiri, ed., Theory and Practice of Foreign Aid, Elsevier, May 2007, pp. 387-402. Reprinted in Federal Reserve Bank of St. Louis Review, November/December 2007, 89(6), pp. 533-47.

#2006-018C "War and Pestilence as Labor Market Shocks: U.S. Manufacturing Wage Growth 1914-1919"
by Thomas A. Garrett
March 2006
Revised October 2007

This paper explores the effect of mortalities from the 1918 influenza pandemic and World War I on wage growth in the manufacturing sectors of U.S. states and cities from 1914 to 1919. More...

FORTHCOMING: Economic Inquiry