In this paper, we show that, contrary to common beliefs, over the past two decades several countries were able to reduce public spending by remarkable amounts. These countries did not seem to have suffered from these large reductions either in a macroeconomic sense, or in terms of lower values...

February 21, 2013. Presentation. "Perspectives on the Current Stance of Monetary Policy." NYU Stern Center for Global Economy and Business, New York, N.Y.

June 29, 2012. Presentation. "U.S. Monetary Policy: Still Appropriate." Presented at Dialogue with the Fed, Little Rock, Arkansas.

February 14, 2013. Presentation. "U.S. Monetary Policy: Easier Than You Think It Is." Mississippi State University, Starkville, Mississippi

October 2, 2013. Opening Remarks. Given at the Federal Reserve/CSBS Community Banking Research Conference, Community Banking in the 21st Century, St. Louis

April 11, 2013. Opening Remarks. Given at the 2013 Federal Reserve System Community Development Research Conference, Resilience and Rebuilding for Low-Income Communities: Research to Inform Policy and Practice, Washington, D.C.

April 5, 2012. Presented at the InvestMidwest Venture Capital Forum, St. Louis.

April 3, 2013. Opening Remarks. Given at the Homer Jones Memorial Lecture, Federal Reserve Bank of St. Louis.

The paper investigates the impact of US quantitative easing (QE) on global non-financial corporate bond issuance. It distinguishes between two QE instruments, MBS/GSE debt and Treasury bonds, and disentangles between two channels of transmission of QE to global bond markets, namely flow effects...