Publications: Papers

Exercises in Random Numbers (March 12, 2012)


Early in February 2012, the Federal Reserve Bank of St. Louis issued a revised study entitled "Speculation in the Oil Market." In it, the authors assign a signficant portion of the current gasoline price rise ($0.50 per gallon) to speculative activity. In his paper "Exercises in Random Numbers," Dr. Verleger responds to this study and others like it. 


To view or download the complete paper, please use the PDF link below.