Institution
Federal Reserve Bank of St. Louis
Other•St Louis, Missouri, United States•
About: Federal Reserve Bank of St. Louis is a other organization based out in St Louis, Missouri, United States. It is known for research contribution in the topics: Monetary policy & Inflation. The organization has 203 authors who have published 1650 publications receiving 46084 citations.
Topics: Monetary policy, Inflation, Interest rate, Business cycle, Debt
Papers published on a yearly basis
Papers
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TL;DR: In this paper, a cost-reducing innovation to the delivery of "Self-Help Group" microfinance services is examined, where the agents earn their payment by charging membership fees rather than following the status quo in which the agents are paid by an outside organization and instead offer free services to clients.
Abstract: This paper examines a cost-reducing innovation to the delivery of "Self-Help Group" microfinance services. These groups typically rely on outside agents to found and administer the groups although funds are raised by the group members. The innovation is to have the agents earn their payment by charging membership fees rather than following the status quo in which the agents are paid by an outside organization and instead offer free services to clients. The theory we develop shows that such membership fees could actually improve performance without sacrificing membership, simply by mitigating an adverse selection problem. Empirically, we evaluate this innovation in East Africa using a randomized control trial. We find that privatized entrepreneurs providing the self-help group services indeed outperform their NGO-compensated counterparts along several dimensions. Over time, they cost the NGO less and lead more profitable groups; also, households with access to privately-delivered groups borrow and save more, invest more in businesses, and may have higher consumption. Consistent with the theory, these privatized groups attract wealthier, more business-oriented members, although they attract no fewer members.
7 citations
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TL;DR: In this article, an economic and financial education program at the elementary grades involving a coalition of partners in Chicago was described, and a curriculum was implemented and evaluated in the Chicago Public Schools.
Abstract: This paper describes an economic and financial education program at the elementary grades involving a coalition of partners in Chicago. We provide a brief overview of the research literature for these grades. Then, we describe how a curriculum was implemented and evaluated in the Chicago Public Schools. An attitude survey was administered to students as a preand post-test. Over 2,500 individual tests from 48 schools and 110 librarians were matched. The measured changes, while often modest, were statistically significant and large enough to indicate that the positive changes may be attributed to the curriculum. Anecdotal results are also reported. ______________________________________________________ JEL Codes: A21
7 citations
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TL;DR: In this article, it was shown that changes in the discount rate can have an associated announcement effect on the foreign exchange value of the dollar only if these changes are not anticipated by the market.
Abstract: Changes in the discount rate can have an associated announcement effect on the foreign exchange value of the dollar only if these changes are not anticipated by the market. This paper provides evidence to support this contention. Specifically, discount rate changes made for reasons other than technical adjustments have not been anticipated fully and consequently, their announcement has had a significant impact on the dollar's exchange rate. Furthermore, results are obtained that support the hypothesis that unanticipated discount rate changes alter the expectation of the rate of future inflation.
7 citations
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TL;DR: The total value of Bitcoin has declined as a share of all cryptocurrencies as mentioned in this paper, which is the first time in history that Bitcoin has experienced a drop in value as a percentage of its value.
Abstract: The total value of Bitcoin has declined as a share of all cryptocurrencies.
7 citations
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TL;DR: In this article, the authors compared the behavior of the effective federal funds rate to 10 US interest rates with maturities ranging from overnight to 10 years, and identified idiosyncratic shocks to the funds rate and provided evidence on their impact on other rates at various frequencies.
Abstract: This paper compares the behaviour of the effective federal funds rate to 10 US interest rates with maturities ranging from overnight to 10 years. Using spectral estimation methods, we identified idiosyncratic shocks to the funds rate and provided evidence on their impact on other rates at various frequencies. Our results suggest that, while all of the interest rates examined have common shocks at low frequencies, the federal funds rate contains some unique information at high frequency, although this information appears to be relevant only at the short end of the term structure. In turn, these results are open to various alternative interpretations.
7 citations
Authors
Showing all 214 results
Name | H-index | Papers | Citations |
---|---|---|---|
William Easterly | 93 | 253 | 49657 |
David K. Levine | 66 | 358 | 22455 |
Lucio Sarno | 65 | 218 | 17418 |
Paul W. Wilson | 53 | 147 | 18562 |
Christopher J. Neely | 47 | 201 | 8438 |
Edward Nelson | 46 | 143 | 7819 |
David C. Wheelock | 40 | 173 | 6125 |
Michele Boldrin | 40 | 154 | 8365 |
Massimo Guidolin | 36 | 230 | 5640 |
Daniel L. Thornton | 36 | 230 | 5064 |
Jeremy M. Piger | 34 | 98 | 5997 |
Howard J. Wall | 34 | 136 | 4488 |
Michael T. Owyang | 34 | 204 | 3890 |
Christopher Otrok | 34 | 98 | 7601 |
Ping Wang | 33 | 241 | 4263 |