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David C. Wheelock

Group Vice President and Deputy Director of Research


Ph.D. Economics
University of Illinois

M.S. Economics
University of Illinois

B.S. Economics
Iowa State University

Contact Info

Phone: (314) 444-8570
Fax: (314) 444-8731

Research Division
Federal Reserve Bank of St. Louis
P.O. Box 442
St. Louis, MO 63166-0442

For media inquiries, contact:
Laura Taylor
Phone: (314) 444-8783

Selected Publications

"The Lender of Last Resort: Lessons from the Fed's First 100 Years"
with Mark A. Carlson
in Owen F. Humpage, ed., Current Federal Reserve Policy Under the Lens of Economic History
Cambridge University Press, 2015, Chapter 4, pp. 49-101

"Does the Structure of Banking Markets Affect Economic Growth? Evidence from U.S. State Banking Markets"
with Kris James Mitchener
Explorations in Economic History, April 2013, Vol. 50, No. 2, pp. 161-78
Working Paper

"The Promise and Performance of the Federal Reserve as Lender of Last Resort 1914-1933"
with Michael D. Bordo
in Michael D. Bordo and William Roberds, ed., The Origins, History, and Future of the Federal Reserve: A Return to Jekyll Island
Cambridge University Press, 2013, Chapter 2, pp. 59-98

"Do Large Banks Have Lower Costs? New Estimates of Returns to Scale for U.S. Banks"
with Paul W. Wilson
Journal of Money, Credit, and Banking, February 2012, Vol. 44, No. 1, pp. 171-99
Working Paper

"Are Credit Unions Too Small?"
with Paul W. Wilson
Review of Economics and Statistics, November 2011, Vol. 93, No. 4, pp. 1343-1359
Working Paper


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