Federal Reserve Bank of St. Louis

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• When Do Stock Market Booms Occur?: The Macroeconomic And Policy Environments Of 20th Century Booms

  BNET - 2006-09-01

  This paper studies the macroeconomic conditions and policy environments under which stock market booms occurred among ten developed countries during the 20th Century. We find that booms tended to occur during periods of above-average growth of real output, and below-average and falling inflation. We also find that booms often ended...

  Tags: Stock, Environment, Federal Reserve Bank Of St. Louis, Stock Market, Inflation, Investment, Currency & Foreign Exchange, Finance

• Stock Prices, Firm Size, and Changes in the Federal Funds Rate Target

  BNET - 2003-11-01

  The Fed targeted the federal funds rate during the period 1974-79; they returned to that procedure in the late 1980s and have maintained it since then. For both periods, it finds that stock prices reacted significantly to unanticipated changes in the federal funds rate target, but not to anticipated ones....

  Tags: Stock Price, Stock, Federal Reserve Bank Of St. Louis, Investment, Finance

• On The Out-of-Sample Stock Return Predictability: The International Evidence

  BNET - 2003-05-01

  This paper, shows that the forecasting variables of the US excess stock market return also forecast returns on international stock market indices, both in sample and out of sample. In addition, the out of sample forecasts of US or world excess returns are good proxies for those of international stock...

  Tags: Stock, Federal Reserve Bank Of St. Louis, Stock Market, Investment, Finance

• Understanding the Risk-Return Tradeoff in the Stock Market

  BNET - 2002-01-01

  The article finds that past stock market variance forecasts excess stock market returns and that its predictive ability is greatly enhanced if the consumption-wealth ratio is also included in the forecasting equation. While the risk-return tradeoff is found negative if the latter is used as the instrumental variable for the...

  Tags: Stock, Federal Reserve Bank Of St. Louis, Stock Market, Investment, Finance

• Commentary. (response to article by Richard G. Anderson and Kenneth A. Kavajecz in this issue, p. 1) (Proceedings of the Eighteenth Annual Economic Policy Conference of the Federal Reserve Bank of St. Louis)(Money Stock Measurement: History, Theory and Im

  - 1994-03-01

  IN THEIR PAPER, Anderson and Kavajecz provide the rare public service of a careful examination of the construction of monetary data. The paper is important because the data on monetary aggregates are central to academic and policy research in macroec IN THEIR PAPER, Anderson and Kavajecz...

  Tags: Anderson, Federal Reserve Bank of St. Louis, stock, theory

• The evolution of the Federal Reserve's Monetary aggregates: a timeline. (Proceedings of the Eighteenth Annual Economic Policy Conference of the Federal Reserve Bank of St. Louis)(Money Stock Measurement: History, Theory and Implications)

  - 1994-03-01

  This timeline follows the history of the monetary aggregates published by the staff of the Federal Reserve's Board of Governors. The chronology is based on the Board's J.3 and H.6 statistical releases as well as material from the Federal Reserve Bull This timeline follows the history...

  Tags: board, Federal Reserve Bank of St. Louis, Federal Reserve Board, stock, theory

• A historical perspective on the Federal Reserve's monetary aggregates: definition, construction and targeting. (Proceedings of the Eighteenth Annual Economic Policy Conference of the Federal Reserve Bank of St. Louis)(Money Stock Measurement: History, The

  - 1994-03-01

  The savings deposit component of M2 includes deposits at commercial banks, MSBs, S&Ls and credit unions. As usual, construction of monetary aggregates requires both gross deposit amounts and, as a netting item, the amounts of deposits held by oth The savings deposit component of M2 includes...

  Tags: construction, deposit, Federal Reserve Bank of St. Louis, Federal Reserve Board, stock

• Financial firms' production and supply-side monetary aggregation under dynamic uncertainty. (Proceedings of the Eighteenth Annual Economic Policy Conference of the Federal Reserve Bank of St. Louis)(Money Stock Measurement: History, Theory and Implication

  - 1994-03-01

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  Tags: Federal Reserve Bank of St. Louis, financial, stock, theory

• Empirical evidence on the recent behavior and usefulness of simple-sum and weighted measures of money stock. (Proceedings of the Eighteenth Annual Economic Policy Conference of the Federal Reserve Bank of St. Louis)(Money Stock Measurement: History, Theor

  - 1994-03-01

  methods of Hansen, 1980; and White, 1978), the exclusion tests are performed using linear Wald statistics, TABULAR DATA OMITTED which have a central chi-squared distribution. methods of Hansen, 1980; and White, 1978), the exclusion tests are performed using linear Wald statistics, TABULAR DATA OMITTED...

  Tags: Federal Reserve Bank of St. Louis, Hansen, stock

• Commentary. (response to article by Douglas Fisher and Adrian Fleissig in this issue, p. 117) (Proceedings of the Eighteenth Annual Economic Policy Conference of the Federal Reserve Bank of St. Louis)(Money Stock Measurement: History, Theory and Implicati

  - 1994-03-01

  DOUG FISHER AND ADRIAN FLEISSIG develop and estimate a Dynamic Fourier Expenditure System in an attempt to meet some criticisms that have been raised against the literature on expenditure systems. First, I will discuss Fisher and Fleissig's model in DOUG FISHER AND ADRIAN FLEISSIG develop...

  Tags: Federal Reserve Bank of St. Louis, stock, theory