Review

1967 - 2025

Current editor(s): Juan M. Sanchez

From Federal Reserve Bank of St. Louis
Contact information at EDIRC.
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Seasonal accommodation and the financial crises of the Great Depression: did the Fed \\"furnish an elastic currency?\\" pp. 3-18: David Wheelock
Is the United States losing its dominance in high-technology industries? pp. 19-34: Alison Butler
An extended series of divisia monetary aggregates pp. 35-52: Daniel Thornton and Piyu Yue

Two faces of financial innovation pp. 3-17: Mark Flood
The recent credit crunch: the neglected dimensions pp. 18-36: Kevin Kliesen and John Tatom
Structural approaches to vector autoregressions pp. 37-57: John Keating
The misuse of the Fed's discount window pp. 58-69: Anna Schwartz

The effects of legislating prompt corrective action on the Bank Insurance Fund pp. 3-22: R. Gilbert
Targeting M2: the issue of monetary control pp. 23-35: Daniel Thornton
Understanding the term structure of interest rates: the expectations theory pp. 36-50: Steven Russell
The great deposit insurance debate pp. 51-77: Mark Flood
The response of market interest rates to discount rate changes pp. 78-91: Michael Dueker

Environmental protection and free trade: are they mutually exclusive? pp. 3-16: Alison Butler
Foreign-owned companies in the U.S.: malign or benign? pp. 17-31: Cletus Coughlin
Foreign exchange intervention by the United States: a review and assessment of 1985-89 pp. 32-51: Michael Belongia
Are small rural banks credit constrained? A look at the seasonal borrowing privilege in the Eighth Federal Reserve District pp. 52-66: Michelle A. Clark
Samuelson's model of money with n-period lifetimes pp. 67-82: James Bullard

Monetary policy in the Great Depression: what the Fed did and why pp. 3-28: David Wheelock
Seigniorage in the United States: how much does the U.S. government make from money production? pp. 29-40: Manfred J. M. Neumann
The FOMC in 1991: an elusive recovery pp. 41-61: James Bullard
How the 1992 legislation will affect European financial services pp. 62-77: K. Alec Chrystal and Cletus Coughlin

Implications of netting arrangements for bank risk in foreign exchange transactions pp. 3-16: R. Gilbert
Institutional developments in the globalization of securities and futures markets pp. 17-30: Jodi G. Scarlata
Data envelopment analysis and commercial bank performance: a primer with applications to Missouri banks pp. 31-45: Piyu Yue

The 1990 oil price hike in perspective pp. 3-18: John Tatom
Alternative measures of the monetary base: what are the differences and are they important? pp. 19-35: Michelle Garfinkel and Daniel Thornton
A microeconomic approach to estimating demand: the asymptotically ideal model pp. 36-51: Piyu Yue
Microstructure theory and the foreign exchange market pp. 52-70: Mark Flood

The U.S. balance sheet: what is it and what does it tell us? pp. 3-18: Keith Carlson
Divisia monetary services indexes for Switzerland: are they useful for monetary targeting? pp. 19-33: Robert Fluri and Piyu Yue
The U.S. currency system: a historical perspective pp. 34-61: Steven Russell

U.S. trade-remedy laws: do they facilitate or hinder free trade? pp. 3-18: Cletus Coughlin
The behavior of retail gasoline prices: symmetric or not? pp. 19-29: Jeffrey D. Karrenbrock
Monetary policy and the farm/nonfarm price ratio: a comparison of effects pp. 30-46: Michael Belongia
The multiplier approach to the money supply process: a precautionary note pp. 47-64: Michelle Garfinkel and Daniel Thornton
Measuring state exports: is there a better way? pp. 65-79: Cletus Coughlin and Thomas B. Mandelbaum

Public capital and private sector performance pp. 3-15: John Tatom
Supervision of undercapitalized banks: is there a case for change? pp. 16-30: R. Gilbert
The FOMC in 1990: onset of recession pp. 31-53: James Bullard
U.S. policy in the Bretton Woods era pp. 54-83: Allan Meltzer

Should government spending on capital goods be raised? pp. 3-15: John Tatom
Trade imbalances and economic theory: the case for a U.S.-Japan trade deficit pp. 16-31: Alison Butler
An introduction to complete markets pp. 32-57: Mark Flood
A primer on cointegration with an application to money and income pp. 58-78: David Dickey, Dennis Jansen and Daniel Thornton

Do bank holding companies act as "sources of strength" for their bank subsidiaries? pp. 3-18: R. Gilbert
A consumer's guide to regional economic multipliers pp. 19-32: Cletus Coughlin and Thomas B. Mandelbaum
The future of Social Security: an update pp. 33-49: Keith Carlson
Learning, rational expectations and policy: a summary of recent research pp. 50-60: James Bullard

The internationalization of the beer brewing industry pp. 3-19: Jeffrey D. Karrenbrock
Alternative measures of money as indicators of inflation: a survey and some new evidence pp. 20-33: Michael Belongia and James Chalfant
The trade-related aspects of intellectual property rights: what is at stake? pp. 34-46: Alison Butler
The economic consequences of reducing military spending pp. 47-58: Michelle Garfinkel

Accounting for changes in manufactured exports at the state level: 1976-86 pp. 3-14: Cletus Coughlin and Thomas B. Mandelbaum
The pitfalls of exchange rate targeting: a case study from the United Kingdom pp. 15-24: Michael Belongia and K. Alec Chrystal
Do government deficits matter? pp. 25-39: Daniel Thornton
What do economic models tell us about the effects of the U.S.-Canada Free Trade Agreement? pp. 40-58: Cletus Coughlin
Monetary policy on the 75th anniversary of the Federal Reserve System: summary of conference proceedings pp. 59-65: Michael Belongia

Strategic considerations in monetary policy with private information: can secrecy be avoided? pp. 3-16: Michelle Garfinkel and Seonghwan Oh
The German monetary unification (Gmu): converting marks to d-marks pp. 17-36: Peter Bofinger
The effects of financial innovations on checkable deposits, M1 and M2 pp. 37-57: John Tatom

Eighth District banks in 1989: in the eye of the storm? pp. 3-17: Michelle A. Clark
The Eighth District business economy in 1989: exiting the eighties with vigor pp. 18-30: Thomas B. Mandelbaum
The U. S. and Eighth District agricultural economies in 1989: building on past strength pp. 31-43: Jeffrey D. Karrenbrock

On maintaining a rising U.S. standard of living into the mid-21st century pp. 3-16: Keith Carlson
The FOMC in 1989: walking a tightrope pp. 17-35: Michelle Garfinkel
A methodological approach to chaos: are economists missing the point? pp. 36-48: Alison Butler
The legacy of the monetarist controversy pp. 49-64: David Laidler

Market discipline of bank risk: theory and evidence pp. 3-18: R. Gilbert
On the use of option pricing models to analyze deposit insurance pp. 19-35: Mark Flood
What do we know about the long-run real exchange rate? pp. 36-48: Cletus Coughlin and Kees G. Koedijk