Federal Reserve Bank of St. Louis Review

Federal Reserve Bank of St. Louis Review is a magazine specializing in Finance topics.

Articles from Vol. 83, No. 3, May

A Simple Model of Limited Stock Market Participation
The 1998 Survey of Consumer Finance data shows that only 48.8 percent of U.S. households owned stocks, either (i) directly or (ii) indirectly through mutual funds. In addition, there is a close relationship between shareholding and wealth. In 1998,...
Forecasting Inflation and Growth: Do Private Forecasts Match Those of Policymakers?
Generally, we value forecasts for their accuracy. In some cases, however, the forecasts themselves are interesting because of what they reveal about the forecaster. Monetary policymaker forecasts are important because they partially reveal what policymakers...
The Practice of Central Bank Intervention: Looking under the Hood
There has been a long and voluminous literature about official intervention in foreign exchange markets. Official intervention is generally defined as those foreign exchange transactions of monetary authorities that are designed to influence exchange...
Toward a New Paradigm in Open Economy Modeling: Where Do We Stand?
In the last few decades, there have been a number of important developments, both theoretical and empirical, in open economy macro economics and exchange rate economics (see, for example, Sarno and Taylor, 2001a, b). Also, the increasing availability...