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: The authors study the effect of trade liberalization in an endogenous growth model in which comparative advantage and the stock of knowledge are determined by innovation and diffusion, and provide a unified framework for quantifying the cross-country and cross-sector interactions among trade, innovation, and knowledge diffusion.
Abstract: We provide a unified framework for quantifying the cross-country and cross-sector interactions among trade, innovation, and knowledge diffusion. We study the effect of trade liberalization in an endogenous growth model in which comparative advantage and the stock of knowledge are determined by innovation and diffusion. We calibrate the model to match observed cross-country and cross-sector heterogeneity in production, innovation efficiency and knowledge spillovers. Our counterfactual analysis shows that a reduction in trade costs induces a re-allocation of R&D and comparative ad- vantage across sectors. Heterogeneous knowledge diffusion amplifies the specialization effects of trade-induced R&D re-allocation, becoming an important source of growth and welfare.
6 citations
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TL;DR: In this paper, the authors examine how banks change their risk management practices in response to the private disclosure of regulatory ratings that summarize bank risk-taking and find that deficient banks decrease commercial lending while shifting assets into cash.
6 citations
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TL;DR: In this paper, the interplay of trade and terrorism externalities under free trade between a developed nation that exports a manufactured good to and imports a primary product from a developing nation is investigated.
Abstract: This paper investigates the interplay of trade and terrorism externalities under free trade between a developed nation that exports a manufactured good to and imports a primary product from a developing nation. A terrorist organization targets both nations and reduces its attacks in response to a nation’s defensive counterterrorism efforts, while transferring some of its attacks abroad. Terms-of-trade considerations lead the developed nation to raise its counterterrorism level beyond the “small-country” level, thus compounding its over provision of these measures. By contrast, the developing nation limits its defensive countermeasures below that of the small-country level. The analysis is extended to include proactive countermeasures to weaken the terrorist group. Again, the developed country raises its efforts owing to the terms-of-trade externality, which now opposes the under provision associated with proactive efforts. A second extension allows for several developing country exporters of the primary product.
6 citations
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TL;DR: In this article, the authors evaluate the performance of a mean-variance manager who tries to time the market based on those variables, and find that the associated market-timing strategy outperforms the buy-and-hold strategy.
Abstract: Guo and Savickas [2005] show that aggregate stock market volatility and average idiosyncratic stock volatility jointly forecast stock returns. In this paper, we quantify the economic significance of their results from the perspective of a portfolio manager. That is, we evaluate the performance, e.g., the Sharpe ratio and Jensen's alpha, of a mean-variance manager who tries to time the market based on those variables. We find that, over the period 1968-2004, the associated market-timing strategy outperforms the buy-and-hold strategy, and the difference is statistically and economically significant.
6 citations
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TL;DR: As the pandemic continues, financially vulnerable firms might be at greater risk of closing as discussed by the authors, as the number of infected companies increases. But, as the epidemic continues, financial vulnerability increases.
Abstract: As the pandemic continues, financially vulnerable firms might be at greater risk of closing.
6 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 |