Federal Reserve Bank of St. Louis

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.

The Determinants of Aid in the Post-Cold War Era

Abstract: This paper estimates the responsiveness of aid to recipient countries' economic and physical needs, civil/political rights, and government effectiveness. We look exclusively at the post-Cold War era and control for the political, strategic, and other considerations of donors with fixed effects. In general, we find that aid and per capita income were negatively related, while aid was positively related with infant mortality, rights, and government effectiveness.

The Effectiveness of Monetary Policy

Abstract: The analysis addresses changing views of the role and effectiveness of monetary policy, inflation targeting as an effective monetary policy, monetary policy and short-run (output) stabilization, and problems in implementing a short-run stabilization policy.

The Interplay Between Preemptive and Defensive Counterterrorism Measures: A Two‐stage Game

Abstract: A two-stage game depiction of counterterrorism is presented, emphasizing the interaction between preemptive and defensive measures taken by two commonly targeted countries. The preemptor is apt to be the high-cost defender with the greater foreign interests. A prime-target country may also assume the preemptor role. The analysis identifies key factors—cost comparisons, foreign interests, targeting risks and domestic terrorism losses—that determine counterterrorism allocations. Market failures associated with preemptive and defensive measures may be jointly ameliorated by a disadvantaged defender. Nevertheless, the subgame perfect equilibrium will still be suboptimal since externalities are not fully internalized.

Measuring the Information Content of the Beige Book: A Mixed Data Sampling Approach

Abstract: Studies of the predictive ability of the Federal Reserve’s Beige Book for aggregate output and employment have proven inconclusive. This might be attributed, in part, to its irregular release schedule. We use a model that allows for data sampling at mixed frequencies to analyze the predictive power of the Beige Book. We find that the Beige Book’s national summary and District reports predict GDP and aggregate employment and that most District reports provide information content for regional employment. In addition, there appears to be an asymmetry in the predictive content of the Beige Book language.