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Federal Reserve Bank of St. Louis Review

A quarterly research journal intended for an economically informed but broad readership—from the undergraduate student to the PhD. In print and online.

SEPTEMBER/OCTOBER 2012 Vol. 94, No. 5

Sovereign Debt: A Modern Greek Tragedy

The authors of this article provide a general introduction to the concept of sovereign debt—including the seductive nature of borrowing and the strategies associated with default—before analyzing the current debt crises in Europe. They focus on ...

The Boom and Bust of U.S. Housing Prices from Various Geographic Perspectives

This paper summarizes changes in housing prices during the recent U.S. boom and bust from various geographic perspectives. Nationally, the Standard & Poor’s/Case-Shiller house price index ...

Disentangling Diverse Measures: A Survey of Financial Stress Indexes

The recent financial crisis helped emphasize the need for measures of financial conditions. In the wake of the crisis...

Okun’s Law over the Business Cycle: Was the Great Recession All That Different?

In 1962, Arthur Okun posited an empirical relationship between the change in the unemployment rate and real output growth. Since then, the media, policymakers, pundits, and intermediate macro students...


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