Dave Wheelock

Standard Vita

Biography

IDEAS

Education

Ph.D. Economics
University of Illinois
1987

MS Economics
University of Illinois
1984

BS Economics
Iowa State University
1982

Contact Info

Phone: (314) 444-8570
Fax: (314) 444-8731
Email: david.c.wheelock@stls.frb.org

Research Division
Federal Reserve Bank of St. Louis
P.O. Box 442
St. Louis, MO 63166-0442

For media inquiries contact:
Adam Allington
mediainquiries@stls.frb.org
Office: (314) 444-8783
Cell: (314) 313-3783

David C. Wheelock

Vice President and Deputy Director of Research

Working Papers and Other Work in Progress

"Navigating Constraints: The Evolution of Federal Reserve Monetary Policy, 1935-59"
with Mark A. Carlson
Working Paper 2014-013A, posted June 2014.

"The Lender of Last Resort: Lessons from the Fed’s First 100 Years"
with Mark A. Carlson
Working Paper 2012-056B, posted November 2012, updated February 2013.

"Did Doubling Reserve Requirements Cause the Recession of 1937-1938? A Microeconomic Approach"
with Charles W. Calomiris and Joseph R. Mason
Working Paper 2011-002A, posted January 2011.

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Books

The Strategy and Consistency of Federal Reserve Monetary Policy 1924-1933, Cambridge University Press, 1991.

 

Articles in Academic Journals and Books

"The Promise and Performance of the Federal Reserve as Lender of Last Resort 1914-1933"
with Michael D. Bordo
The Origins, History, and Future of the Federal Reserve: A Return to Jekyll Island, 2013, pp. 59-98.

"The Evolution of Cost-Productivity and Efficiency Among U.S. Credit Unions"
with Paul Wilson
Journal of Banking and Finance, January 2013, 37(1), pp. 75-88.

"Does the Structure of Banking Markets Affect Economic Growth? Evidence from U.S. State Banking Markets"
with Kris James Mitchener
Explorations in Economic History, April 2013, 50(2), pp. 161-178.

"The Great Inflation: Did The Shadow Know Better?"
with William Poole and Robert H. Rasche, in Michael D. Bordo and Athanasios Orphanides ed. The Great Inflation: The Rebirth of Modern Central Banking, University of Chicago Press, 2013, pp. 61-107.

"Do Large Banks have Lower Costs? New Estimates of Returns to Scale for U.S. Banks"
with Paul Wilson
Journal of Money, Credit, and Banking, February 2012, 44(1), pp. 171-99.

"Are Credit Unions Too Small?"
with Paul Wilson
Review of Economics and Statistics, November 2011, 93(4), pp. 1343-59.

"Robust Non-parametric Quantile Estimation of Efficiency and Productivity Change in U.S. Commercial Banking, 1985–2004"
with Paul Wilson
Journal of Business and Economic Statistics, July 2009, 27(3), pp. 354-68.

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Federal Reserve Publications

"Darryl Francis and the Making of Monetary Policy, 1966-1975 "
with R. W. Hafer
Federal Reserve Bank of St. Louis Review, November/December 2013, 95(6), pp. 469-486.

"Big Banks in Small Places: Are Community Banks Being Driven Out of Rural Markets?"
with R. Alton Gilbert
Federal Reserve Bank of St. Louis Review, May/June 2013, 95(3), pp. 199-218

"Reader Exchange: Does the Fed's regional structure play a role in monetary policy?"
Federal Reserve Bank of St. Louis The Regional Economist, January 2013.

"Federal Reserve Lending to Troubled Banks During the Financial Crisis, 2007-2010"
with R. Alton Gilbert, Kevin L. Kliesen, and Andrew P. Meyer
Federal Reserve Bank of St. Louis Review, May/June 2012, 94(3), pp. 221-242.

"Banking Industry Consolidation and Market Structure: Impact of the Financial Crisis and Recession"
Federal Reserve Bank of St. Louis Review, November/December 2011, 93(6), pp. 419-438.

"Have Acquisitions of Failed Banks Increased the Concentration of U.S. Banking Markets?"
Federal Reserve Bank of St. Louis Review, May/June 2011, 93(3), pp. 155-168.

"The Geographic Distribution and Characteristics of U.S. Bank Failures, 2007-2010: Do Bank Failures Still Reflect Local Economic Conditions?"
with Craig P. Aubuchon
Federal Reserve Bank of St. Louis Review, September/October 2010, 92(5), pp. 395-415.

"Lessons Learned? Comparing the Federal Reserve’s Responses to the Crises of 1929-1933 and 2007-2009"
Federal Reserve Bank of St. Louis Review, March/April 2010, 92(2), pp. 89-107.

"Systemic Risk and the Financial Crisis: A Primer"
with James Bullard and Christopher J. Neely
Federal Reserve Bank of St. Louis Review, September/October 2009, 91(5, Part 1), pp. 403-17.

"Can the Term Spread Predict Output Growth and Recessions? A Survey of the Literature"
with Mark E. Wohar
Federal Reserve Bank of St. Louis Review, September/October 2009, 91(5, Part 1), pp. 419-40.

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Commentary

"How Well Do Initial Claims Forecast Employment Growth Over the Business Cycle and Over Time?"
with Kevin L. Kliesen
Federal Reserve Bank of St. Louis Economic Synopses, 2012, No. 7.

"The Monetary Base and Bank Lending: You Can Lead a Horse to Water..."
Federal Reserve Bank of St. Louis Economic Synopses, 2010, No. 24.

"When Will Business Lending Pick Up?"
Federal Reserve Bank of St. Louis Economic Synopses, 2010, No. 8.

"How Not to Reduce Excess Reserves"
Federal Reserve Bank of St. Louis Economic Synopses, 2009, No. 38.

"The Global Recession"
with Craig P. Aubuchon
Federal Reserve Bank of St. Louis International Economic Trends, May 2009.

 

Book Reviews

"A History of Macroeconomic Policy in the United States"
by John H. Wood
Published electronically on the Economic History Association web site, EH.Net, June 30, 2009.

"The Economics of the Great Depression: A Twenty-First Century Look Back at the Economics of the Interwar Years"
by Randall E. Parker
Published electronically on the Economic History Association web site, EH.Net, November 5, 2007.

"A History of the Federal Reserve, Volume 1: 1913-1951"
by Allan H. Meltzer
Economic History Review, August 2005, 58(3), pp. 629-30.

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