MacroMania

David Andolfatto is the Vice President of Economic Research Federal Reserve Bank of St. Louis. He has a PhD in Economics from University of Western Ontario and his areas of interest are Dynamic General Equilibrium Theory, Macroeconomics, Labor Markets, Monetary Theory.

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Awards & Publications

“Optimal Disclosure Policy and Undue Diligence” with Aleksander Berentsen, David Andolfatto and Christopher J. Waller. Journal of Economic Theory, 149, pp. 128-152, January 2014. (https://research.stlouisfed.org/wp/more/2012-001) “Scarcity of Safe Assets, Inflation, and the Policy Trap,” with David

Latest Articles

When is more competition bad?

Contrary to popular belief, standard economic theory does not provide a theoretical foundation for the notion that "competition is everywhere and always good." It turns out that legislation that promotes competition among producers may improve consum...

Racial Diversity in the Supply of U.S. Econ PhDs

This post is motivated by Eshe Nelson's column "The Dismal Cost of Economics' Lack of Racial Diversity." I was especially struck by this data -- out of the 539 economics doctorates awarded to U.S. citizens and permanent residents (by U.S. institution...

Does the Fed have a symmetric inflation target?

It's well-known that the Fed has been undershooting its inflation 2% target every year since 2012 (ironically, the year it formally adopted a 2% inflation target). This has led some to speculate whether 2% is being viewed more as a ceiling, rather t...

Working More for Less

I had an interested chat with a colleague of mine the other day about the labor market. In the course of conversation, he mentioned that he used to teach a class in labor economics. Naturally, an important lesson included the theory of labor supply....

Does the Floor System Discourage Bank Lending?

David Beckworth has a new post up suggesting that the Fed's floor system has discouraged bank lending by making interest-bearing reserves a relatively more attractive investment; see here. I've been hearing this story a lot lately, but I can't say it...