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Journal Article
COVID-19: Fiscal Implications and Financial Stability in Developing Countries
The COVID-19 pandemic has been unlike any other crisis that we have experienced in that it hit all economies in the world at the same time, compromising the risk-sharing ability of nations. At the onset of the pandemic, the World Bank (WB) and the International Monetary Fund (IMF) jointly pledged 1.16 trillion U.S. dollars to help emerging economies deal with COVID-19. Would this amount have been enough to preserve financial stability in a worst case scenario, and what were the fiscal implications of the pandemic? In this article we aim to answer these questions by documenting the size of the ...
COVID-19 and Unauthorized Immigration at the Southwest Border
A drop in U.S. enforcement encounters in the spring suggested the pandemic temporarily slowed unauthorized entry attempts, but such encounters have risen in recent months.
Bretton Woods and the Growth of the Eurodollar Market
The postwar system of fixed exchange rates forced many countries to impose capital/currency controls. Banks created a loophole with the eurodollar.
Military Expenditures: How Do the Top-Spending Nations Compare?
An analysis looks at how defense spending among the top six nations has changed since 1992, what has driven the changes and what it might mean for future spending.
Journal Article
Educational Attainment of Immigrants at the National and Eighth District Levels
What role does the foreign-born population play in the economy? Educational attainment and earnings data shed light on potential contributions.
Is a Soft Landing Possible? What the Beveridge Curve Reveals
Adjusting the Beveridge curve to exclude the effect of workers switching jobs suggests that the vacancy rate could fall to pre-pandemic levels without causing the U.S. jobless rate to exceed a 2001-23 average.
Working Paper
COVID-19: fiscal implications and financial stability in developing countries
The COVID-19 pandemic is unlike any other crisis that we have experienced in that it hit all economies in the world at the same time, compromising the risk sharing ability of nations. At the onset of the pandemic, the World Bank (WB) and the International Monetary Fund (IMF) jointly pledged 1.16 trillion dollars to help emerging economies deal with COVID-19. Would this amount have been enough to preserve financial stability in a worst case scenario? What were the fiscal implications of the pandemic? In this paper we aim to answer these questions by documenting the size of the fiscal measures ...
How Does St. Louis-Area Immigration Differ from National Trends?
Local immigrants with at least a bachelor’s degree are more likely to specialize in the physical sciences than immigrants nationally.
Why Financial Sanctions Might Not End Russia’s War on Ukraine
A study that examined sovereign risk among oil-exporting countries provides insights into why sanctions may not deter Russia, a major oil-exporter.
Journal Article
Commercial Loans Rise Sharply during COVID-19 Pandemic
During the first several months of the COVID-19 pandemic, commercial lending increased as small businesses sought loans from the Paycheck Protection Program.