Journal Article
How closely do banks manage vault cash?
Allen, Donald S. (1998-07)
This article examines daily vault cash balances in the Eighth Federal Reserve District to see if banks have been optimizing their vault cash levels. Recent reductions in reserve requirements have not been accompanied by significant reductions in vault cash. This situation suggests that banks may be managing vault cash reserves primarily as precautionary balances to satisfy daily fluctuations in deposits and withdrawals, rather then part of total reserve management. In 1997, some larger banks instituted formal management of vault currency. If this practice spreads, it will have implications ...
Review , Issue Jul , Pages 43-54

Journal Article
Improving production management
Allen, Donald S. (1998-04)
National Economic Trends , Issue Apr

Journal Article
Seasonal production smoothing
Allen, Donald S. (1999-09)
Empirical tests of the production-smoothing hypothesis have yielded mixed results. In this paper, Donald Allen looks for and finds evidence of seasonal production smoothing in 15 out of 25 manufacturing series and eight out of 10 retail series, using detrended seasonally unadjusted data. The equivalent test using seasonally adjusted data were negative for all 35 series. The results suggest that seasonally adjusted data obscure short-term production smoothing.
Review , Volume 81 , Issue Sep , Pages 21-40

Journal Article
Lean inventory corrections
Allen, Donald S. (1997-03)
National Economic Trends , Issue Mar

Journal Article
Where's the productivity growth (from the information technology revolution)?
Allen, Donald S. (1997-03)
Information technology has advanced rapidly in the last two or three decades, and an equivalent rapid gain in economy-wide productivity has been anticipated. Productivity statistics, however, do not support this expectation. Although productivity growth has risen since the slowdown witnessed in the 1970s, it can hardly be described as phenomenal. Donald S. Allen discusses some of the current explanations for this apparent disparity and suggests that, as the workforce catches up to the technology level and exploits its full potential, productivity growth will increase.
Review , Issue Mar , Pages 15-25

Journal Article
Another soft inventory landing?
Allen, Donald S. (1999-12)
National Economic Trends , Issue Dec

Journal Article
What determines long-run growth?
Allen, Donald S. (1997-09)
National Economic Trends , Issue Sep

Journal Article
Do inventories moderate fluctuations in output?
Allen, Donald S. (1997-07)
Inventories are widely believed to serve as a buffer stock against unexpected fluctuations in demand, allowing firms to plan production more efficiently. If so, we would expect production to vary less than sales and inventory to move in the opposite direction to sales. However, research finds that production varies more than sales and that there is a positive correlation between changes in inventory and changes in sales. These findings imply that inventories are not being used to smooth production and do not serve as a buffer for uncertain demand. Donald S. Allen examines firm-level data and ...
Review , Issue Jul , Pages 39-50

Journal Article
Saving up: gross and personal
Allen, Donald S. (1999-06)
National Economic Trends , Issue Jun

Journal Article
Old wine at new prices
Allen, Donald S. (1998-08)
National Economic Trends , Issue Aug