Federal Reserve Bank of St. Louis Review

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

Articles from Vol. 87, No. 6, November-December

An Analysis of Recent Studies of the Effect of Foreign Exchange Intervention
Two recent strands of research have contributed to our understanding of the effects of foreign exchange intervention: (i) the use of high-frequency data and (ii) the use of event studies to evaluate the effects of intervention. This article surveys...
Discrete Monetary Policy Changes and Changing Inflation Targets in Estimated Dynamic Stochastic General Equilibrium Models
Many estimated macroeconomic models assume interest rate smoothing in the monetary policy equation. In practice, monetary policymakers adjust a target level for the federal funds rate by discrete increments. One often-neglected consequence of using...
Federal Reserve Bank of St. Louis Review, Annual Index, 2005
JANUARY/FEBRUARY William Poole, "FOMC Transparency." Emin M. Dinlersoz and Ruben Hernandez-Murillo, "The Diffusion of Electronic Business in the United States." Frank A. Schmid, "Stock Return and Interest Rate Risk at Fannie Mae and Freddie...
Federal Reserve Bank of St. Louis Working Paper Series, 2005
Working papers from the Federal Reserve Bank of St. Louis contain preliminary results of staff research and are made available to encourage comment and discussion, as well as to invite suggestions from other researchers for revision. The views expressed...
How Predictable Is Fed Policy?
This article was originally presented as a speech at the University of Washington, Seattle, Washington, October 4, 2005. Federal Reserve Bank of St. Louis Review, November/December 2005, 87(6), pp. 659-68. ********** Day in and day out, all...
Oil Price Volatility and U.S. Macroeconomic Activity
Oil shocks exert influence on macroeconomic activity through various channels, many of which imply a symmetric effect. However, the effect can also be asymmetric. In particular, sharp oil price changes--either increases or decreases--may reduce aggregate...
Revisions to User Costs for the Federal Reserve Bank of St. Louis Monetary Services Indices
This analysis discusses recent changes to the user cost figures that are computed as part of the Federal Reserve Bank of St. Louis monetary services indices (MSI). The authors first introduce an alternative splicing procedure, robust to differences...