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Research Interests
macroeconomic and financial market developments and trendsSelected Work
“A Comparison of Fed 'Tightening' Episodes since the 1980s” (PDF)
International Journal of Central Banking, August 2023, Vol. 19, No. 3, 10, pp. 423-50
Related working paper (PDF)
“FRED-SD: A Real-Time Database for State-Level Data with Forecasting Applications”
with Kathryn O. Bokun, Laura E. Jackson, and Michael T. Owyang
International Journal of Forecasting, January-March 2023, Vol. 39, No. 1, pp. 279-297
Related working paper (PDF)
“The Nonlinear Effects of Uncertainty Shocks”
with Laura E. Jackson and Michael T. Owyang
Studies in Nonlinear Dynamics and Econometrics, September 2020, Vol. 24, No. 4, 20190024
Related working paper (PDF)
“Monetary Policy and Crude Oil: Prices, Production, and Consumption, by Basil Oberholzer (Book Review)”
Energy Journal, 2019, Vol. 40, No. 4, pp. 255-58
“Is American Manufacturing in Decline?”
with John A. Tatom
Business Economics, July 2018, Vol. 53, No. 3, pp. 107-123
“Three Challenges to Central Bank Orthodoxy”
with James Bullard
Business Economics, October 2015, Vol. 50, No. 4, pp. 191-99
“Do Oil Shocks Drive Business Cycles? Some U.S. and International Evidence”
with Kristie M. Engemann and Michael T. Owyang
Macroeconomic Dynamics, November 2011, Vol. 15, No. 3, pp. 498-517
Related working paper (PDF)
“How Does the FOMC Learn About Economic Revolutions? Evidence from the New Economy Era, 1994-2001”
with Richard G. Anderson
Business Economics, January 2012, Vol. 47, No. 1, pp. 27-56
Related working paper (PDF)
“Do Oil Shocks Drive Business Cycles? Some U.S. and International Evidence”
with Kristie M. Engemann and Michael T. Owyang
Macroeconomic Dynamics, November 2011, Vol. 15, No. 3, pp. 498-517
Related working paper (PDF)
“Deregulation or Reregulation of Agricultural Banks”
with R. Alton Gilbert
American Journal of Agricultural Economics, August 1995, Vol. 77, No. 3, pp. 757-61
“Effects on Interest Rates of Immediately Releasing FOMC Directives”
with Michael T. Belongia
Contemporary Economic Policy, October 1994, Vol. 12, No. 4, pp. 79-91
“Balance Sheet Normalization: Monitoring Quantities and Prices”
with Amalia Estenssoro
Federal Reserve Bank of St. Louis Economic Synopses, 2024, No. 10
“The COVID-19 Pandemic and Inflation: Lessons from Major US Wars”
with David C. Wheelock
Federal Reserve Bank of St. Louis Review, Fourth Quarter 2023
“Slower GDP Growth and Falling Inflation in U.S. Economic Outlook for 2024”
Federal Reserve Bank of St. Louis The Regional Economist, Fourth Quarter 2023
“Lower Inflation, GDP Growth Positive Signs for U.S. Economy”
Federal Reserve Bank of St. Louis The Regional Economist, Third Quarter 2023
“Stubborn Inflation, Economic Resilience Major Themes in U.S. Outlook”
Federal Reserve Bank of St. Louis The Regional Economist, Second Quarter 2023
“Pace of GDP Growth, Disinflation Key in U.S. Economic Outlook”
Federal Reserve Bank of St. Louis The Regional Economist, First Quarter 2023
“The Mechanics of Fed Balance Sheet Normalization”
with Amalia Estenssoro
Federal Reserve Bank of St. Louis Economic Synopses, 2023, No. 18
“Measures of ‘Trend’ Inflation”
Federal Reserve Bank of St. Louis Economic Synopses, 2023, No. 7
“A Growth-Accounting Perspective on the Post-Pandemic Economy”
Federal Reserve Bank of St. Louis Economic Synopses, 2022, No. 27
“Using Beige Book Text Analysis to Measure Supply Chain Disruptions”
with Devin Werner
Federal Reserve Bank of St. Louis Economic Synopses, 2022, No. 18
“Managing a New Policy Framework: Paul Volcker, the St. Louis Fed, and the 1979-82 War on Inflation”
with David C. Wheelock
Federal Reserve Bank of St. Louis Review, First Quarter 2021
“Gauging Market Responses to Monetary Policy Communication”
with Brian Levine and Christopher J. Waller
Federal Reserve Bank of St. Louis Review, Second Quarter 2019
“Risk Management in Monetary Policymaking: The 1994-95 Fed Tightening Episode” (PDF)
Federal Reserve Bank of St. Louis Working Paper 2023-030A, December 2023
“Managing a New Policy Framework: Paul Volcker, the St. Louis Fed, and the 1979-82 War on Inflation” (PDF)
with David C. Wheelock
Federal Reserve Bank of St. Louis Working Paper 2020-022B, July 2020
“Productivity Measurement and Monetary Policymaking During the 1990s” (PDF)
with Richard G. Anderson
Federal Reserve Bank of St. Louis Working Paper 2005-067A, October 2005
Kevin L. Kliesen is a business economist and Bank officer in the Research division of the Federal Reserve Bank of St. Louis, which he joined in October 1988. In his position as a business economist, he analyzes current U.S. macroeconomic and financial market developments and trends for the Bank president and staff economists prior to each Federal Open Market Committee meeting. He also reports on and analyzes economic conditions in the seven states of the Eighth Federal Reserve District. Another important aspect of this position involves speaking to the general public and professional groups about U.S. and Eighth District economic developments.
He holds an M.A. in economics from Colorado State University. He has written and published extensively and was instrumental in the development of the St. Louis Fed’s Financial Stress Index, the St. Louis Fed’s Price Pressures Measure, and the St. Louis Fed’s Economic News Index.
He taught part-time for the department of economics at Washington University in St. Louis from 2006 to 2013. He is a member of the National Association for Business Economics (NABE) and the Association of Christian Economists. In September 2011, he was recognized as a NABE Fellow, one of the organization’s highest honors. In October 2015, he was designated as a Certified Business Economist by the NABE.
