Connecting Policy with Frontier Research

Economist Interviews from the 39th Annual Federal Reserve Bank of St. Louis Fall Conference

Oct. 9-10, 2014

The Federal Reserve Bank of St. Louis hosted its 39th Annual Fall Conference on Oct. 9–10, 2014. David Andolfatto sat down with each of the conference presenters and discussed their work in plain English. The content in this conference volume is based on those interviews. All interviews have been edited for clarity and length.

For the full conference agenda, please see

The views expressed in this volume are those of the individuals presenting them and do not necessarily reflect the views of the Federal Reserve Bank of St. Louis or the Federal Reserve System.

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Message from the President - James Bullard

Message from the Research Director - Christopher J. Waller

Foreword from the Conference Organizers


“Mandatory Disclosure and Financial Contagion” - Fernando Alvarez

“Resurrecting the Role of the Product Market Wedge in Recessions” - Mark Bils

“On the Optimality of Financial Repression” - V. V. Chari

“Spatial Variation in Higher Education Financing and the Supply of College Graduates” - John Kennan

“Competition and Bank Opacity” - Ross Levine

“Demand Stimulus and Inflation: Empirical Evidence” - Iourii Manovskii

“Did the Job Ladder Fail After the Great Recession?” - Giuseppe Moscarini

“The New Full-Time Employment Taxes” - Casey Mulligan

“What Shifts the Beveridge Curve? Recruitment Effort and Financial Shocks” - Gianluca Violante