Archives

Year

Category

Author

JEL Code

Tools

Related Links

Working Paper Archives

Federal Reserve Bank of St. Louis working papers are preliminary materials circulated to stimulate discussion and critial comment.

Regional Economics

A State-Level Analysis of the Great Moderation

A number of studies have documented a reduction in aggregate macroeconomic volatility beginning in the early 1980s, i.e., the “Great Moderation.”

Strategic Online-Banking Adoption

In this paper we study the determinants of banks' decision to adopt a transactional web-site for their customers.

Controlling for Geographic Dispersion When Estimating the Japanese Phillips Curve

This paper argues that estimation of the Phillips curve for Japan should take account of the geographic dispersion of labor-market conditions.

The Economic Performance of Cities: A Markov-Switching Approach

This paper examines the determinants of employment growth in metro areas.

Trends in the Distributions of Income and Human Capital within Metropolitan Areas: 1980-2000

Human capital tends to have significant external effects within local markets, increasing the average income of individuals within the same metropolitan area.

Regional Business Cycle Phases in Japan

This paper uses a Markov-switching model with structural breaks to characterize and compare regional business cycles in Japan for 1976-2005.

Red Ink in the Rearview Mirror: Local Fiscal Conditions and the Issuance of Traffic Tickets

Municipalities have revenue motives for enforcing traffic laws in addition to public safety motives because many traffic offenses are punished via fines and the issuing municipality often retains the revenue.

Neighborhood Income Inequality

This paper offers a descriptive empirical analysis of the geographic pattern of income inequality within a sample of 359 US metropolitan areas between 1980 and 2000.

Urban Decentralization and Income Inequality: Is Sprawl Associated with Rising Income Segregation Across Neighborhoods?

Existing research has found an inverse relationship between urban density and the degree of income inequality within metropolitan areas, suggesting that, as cities spread out, they become increasingly segregated by income.

Spatial Hedonic Models of Airport Noise, Proximity, and Housing Prices

Despite the refrain that housing prices are determined by “location, location, and location,” few studies of airport noise and housing prices have incorporated spatial econometric techniques.

War and Pestilence as Labor Market Shocks: U.S. Manufacturing Wage Growth 1914-1919

This paper explores the effect of mortalities from the 1918 influenza pandemic and World War I on wage growth in the manufacturing sectors of U.S. states and cities from 1914 to 1919.

The Impact of Local Predatory Lending Laws on the Flow of Subprime Credit

Local authorities in North Carolina, and subsequently in at least 23 other states, have enacted laws intending to reduce predatory and abusive lending. While there is substantial variation in the laws, they typically extend the coverage of the Federal Home Ownership and Equity Protection Act (HOEPA) by including home purchase and open end mortgage credit, by lowering annual percentage rate (APR) and fees and points triggers, and by prohibiting or restricting the use of balloon payments and prepayment penalties.

Regional VARs and the Channels of Monetary Policy

We find that the magnitudes of the regional effects of monetary policy were considerably dampened during the Volcker-Greenspan era. Further, regional differences in the depths of monetary-policy-induced recessions are related to the concentration of the banking sector, whereas differences in the total cost of these recessions are related to industry mix.

Spatial Dependence in Models of State Fiscal Policy Convergence

We apply spatial econometric techniques to models of state and local fiscal policy convergence. Total tax revenue and expenditures, as well as broad tax and expenditure categories, of state and local governments in each of the 48 contiguous U.S. states are examined.

Ethnic Networks and U.S. Exports

This paper provides new estimates of the effects of ethnic networks on U.S. exports.

Human Capital Growth in a Cross Section of US Metropolitan Areas

Human capital is typically viewed as generating a number of desirable outcomes, including economic growth. Yet, in spite of its importance, few empirical studies have explored why some economies accumulate more human capital than others. This paper attempts to do so using a sample of more than 200 metropolitan areas in the United States over the years 1980, 1990, and 2000.

Creating a Policy Environment for Entrepreneurs

This paper demonstrates that levels of entrepreneurship can be greatly affected by the general policy environment. Using a state-level panel, we estimate the effects of several policy variables on rates of entrepreneurship and find that bankruptcy exemptions, corporate tax rates, and the level of the minimum wage all affect a state's rate of entrepreneurship.

Regional Disparities in the Spatial Correlation of State Income Growth

This paper presents new evidence of spatial correlation in U.S. state income growth. We extend the basic spatial econometric model used in the growth literature by allowing spatial correlation in state income growth to vary across geographic regions. We find positive spatial correlation in income growth rates across neighboring states, but that the strength of this spatial correlation varies considerably by region.

Changing Noise Levels and Housing Prices near the Atlanta Airport

Using hedonic models, we analyze the effects of proximity and noise on housing prices in neighborhoods near Hartsfield-Jackson Atlanta International Airport during 1995-2002.

Cities and the Growth of Wages Among Young Workers: Evidence from the NLSY

Human capital-based theories of cities suggest that large, economically diverse urban agglomerations increase worker productivity by increasing the rate at which individuals acquire skills. One largely unexplored implication of this theory is that workers in big cities should see faster growth in their earnings over time than comparable workers in smaller markets. This paper examines this implication using data on a sample of young male workers drawn from the National Longitudinal Survey of Youth 1979 Cohort.

No Smoking at the Slot Machines: The Effect of a Smoke-Free Law on Delaware Gaming Revenues

As communities around the nation consider laws restricting smoking in public places, a key political and economic issue that often arises is the effect that such laws have on the sales and profits of particular sectors. The gaming industry has been active in opposition to such ordinances, citing large prospective losses. This article analyzes the revenues of three gaming facilities in Delaware following the implementation of a smoke-free law in December 2002.

The 2001 Recession and the States of the Eighth Federal Reserve District

This paper examines and compares the recent business cycle experiences of the seven states that lie partly or wholly within the Eighth Federal Reserve District (Arkansas, Illinois, Indiana, Kentucky, Mississippi, Missouri, and Tennessee).

The Impact of Local Predatory Lending Laws

Local authorities in North Carolina, and subsequently in at least 23 other states, have enacted laws intending to reduce predatory and abusive lending. While there is substantial variation in the laws, they typically extend the coverage of the Federal Home Ownership and Equity Protection Act (HOEPA) by including home purchase and open-end mortgage credit, by lowering annual percentage rate (APR) and fees and points triggers, and by prohibiting or restricting the use of balloon payments and prepayment penalties.

Local Market Scale and the Pattern of Job Changes Among Young Men

In finding a career, workers tend to make numerous job changes, with the majority of ‘complex’ changes (i.e. those involving changes of industry) occurring relatively early in their working lives.

Smoke-free Law Did Affect Revenue From Gaming in Delaware

A paper recently published in the journal Tobacco Control purports to show that the implementation of a smoking prohibition in Delaware had no statistically significant effect on the revenues of three gaming facilities in that state. After undertaking a thorough analysis of the data, I find that the smoke-free law did affect revenues from gaming in Delaware.

Do Casinos Export Bankruptcy?

This paper measures the extent to which destination resort casinos export bankruptcy back to visitors' home states. Previous literature has alluded to this possibility, but to date studies have only examined the influence of local casinos on local bankruptcy.

Technology and Industrial Agglomeration: Evidence from Computer Usage

Although the association between industrial agglomeration and productivity has been widely examined and documented, little work has explored the possibility that these ‘external’ productivity shifts are the product of more advanced technologies.

Do Localization Economies Derive from Human Capital Externalities?

One of the most robust findings emerging from studies of industrial agglomeration is the rise in productivity that tends to accompany it. What most studies have not addressed, however, is the potential role played by human capital externalities in driving this relationship.

Why Did Income Growth Vary Across States During the Great Depression?

State per capita incomes became more disperse during the contraction phase of the Great Depression, and less disperse during the recovery phase. We investigate the effects of spatial dependence, industrial composition, bank failures and fiscal policies on state income growth during each phase.

Productivity and the Geographic Concentration of Industry: The Role of Plant Scale

A large body of research has established a positive connection between an industry's productivity and the magnitude of its presence within locally defined geographic areas. This paper examines the extent to which this relationship can be explained by a micro-level underpinning commonly associated with productivity: establishment scale.


Next 30 Working Papers


Recently Viewed Series


Subscribe to our newsletter for updates on published research, data news, and latest econ information.
Name:   Email:  
Twitter logo Google Plus logo Facebook logo YouTube logo LinkedIn logo