This article summarizes a reconstruction of the adjusted monetary base and adjusted bank reserves of the Federal Reserve Bank of St. Louis. The revised figures, based on as much original source data as feasible, include changes to both the monetary (source) base and reserve adjustment magnitude...

Empirical models of the federal funds rate almost uniformly use the quarterly or monthly average of the daily rates. One empirical question about the federal funds rate concerns the extent to which monetary policymakers smooth this interest rate. Under the hypothesis of rate smoothing,...

Recent trends in empirical macroeconomic research - embedding long-run relationships in models via cointegration, modeling the correlation between seasonal cycles and business cycles, building endogenous growth models, and the interest of policymakers in inflation targeting - have increased the...