

Warren E. Weber University of South Carolina, Bank of Canada, Federal Reserve Bank of Atlanta
Warren Weber joined the Federal Reserve Bank of Minneapolis in 1981 and served as senior research officer in the Research Department from 1989 to 2012, when he retired. Before joining the Bank, he taught economics at Virginia Polytechnic Institute and State University Tulane University and Duke University. He also has been an adjunct economics professor at the University of Minnesota.
Warren’s M.S. and Ph.D. degrees are from Carnegie-Mellon University. His research agenda focuses on monetary and banking theory and history, with particular emphasis on banking in the United States before 1861.
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Staff Report 587 (June 2019)Luca Benati, Robert E. Lucas, Jr., Juan Pablo Nicolini, and Warren E. WeberOnline appendix: [Staff Report 588](https://doi.org/10.21034/sr.588 "Online Appendix")
Data file: [LongRunMoneyDemandFinalDatabase.xls](https://researchdatabase.minneapolisfed.org/downloads/kk91fk69h "Data file")
An earlier version of this Staff Report circulated as [Working Paper 737](https://doi.org/10.21034/wp.737 "Working Paper 737").
Published in _Journal of Monetary Economics_ (vol. 117, January 2021, pp. 43-63), https://doi.org/10.1016/j.jmoneco.2020.07.003. -
Staff Report 588 (June 2019)Luca Benati, Robert E. Lucas, Jr., Juan Pablo Nicolini, and Warren E. WeberData file: [LongRunMoneyDemandFinalDatabase.xls](https://researchdatabase.minneapolisfed.org/downloads/kk91fk69h "Data file")
Accompanying Staff Report published in _Journal of Monetary Economics_ (vol. 117, January 2021, pp. 43-63), https://doi.org/10.1016/j.jmoneco.2020.07.003. -
Working Paper 738 (April 2017)Luca Benati, Robert E. Lucas, Jr., Juan Pablo Nicolini, and Warren E. WeberThis is the online appendix for [Working Paper 737: _International Evidence on Long-Run Money Demand_](https://researchdatabase.minneapolisfed.org/concern/publications/6t053g042 "Working Paper 737").
An updated version is available as [Staff Report 588](https://doi.org/10.21034/sr.588 "Staff Report 588"). -
Working Paper 737 (February 2017)Luca Benati, Robert E. Lucas, Jr., Juan Pablo Nicolini, and Warren E. Weber[Working Paper 738](https://doi.org/10.21034/wp.738 "Working Paper 738") is the online appendix for this paper.
An updated version of this paper is available as [Staff Report 587](https://doi.org/10.21034/sr.587 "Staff Report 587").
The updated version of this paper is published in _Journal of Monetary Economics_ (vol. 117, January 2021, pp. 43-63), https://doi.org/10.1016/j.jmoneco.2020.07.003. -
Working Paper 695 (February 2012)Warren E. Weber
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Working Paper 679 (December 2011)Warren E. Weber
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Staff Report 460 (July 2011)Warren E. Weber and Angela Redish
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Staff Report 416 (October 2008)Warren E. Weber and Angela RedishPublished in: _Macroeconomic Dynamics_ (Vol. 15, No. S1, April 2011, pp. 62-82) https://doi.org/10.1017/S1365100510000593. Related paper: [Working Paper 658: Coin Sizes and Payments in Commodity Money Systems](https://doi.org/10.21034/wp.658)
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Working Paper 658 (March 2008)Warren E. Weber and Angela RedishPublished in: _Macroeconomic Dynamics_ (Vol. 15, Iss. S1, April 2011, pp. 62-82), https://doi.org/10.1017/S1365100510000593. Related paper: [Staff Report 416: Coin Sizes and Payments in Commodity Money Systems](https://doi.org/10.21034/sr.416)
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Quarterly Review 3012 | September 2006 (Vol. 30 No. 1)Warren E. WeberReprinted, with permission, from the _Journal of Economic History_ (Vol. 66, No. 2, June 2006, pp. 433-455), copyright 2006 Economic History Association. https://doi.org/10.1017/S0022050706000180
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Working Paper 642 (July 2006)Warren E. Weber
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Working Paper 641 (March 2006)Warren E. Weber, Francesca Carapella, Pricila Maziero, and Laurence AlesPublished in _Journal of Economic Theory_ (Vol. 142, No. 1, September 2008, pp. 5-27), https://doi.org/10.1016/j.jet.2006.10.010
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Working Paper 634 (December 2005)Warren E. WeberPublished in _Journal of Economic History_ (Vol. 66, No. 6, June 2006, pp. 433-455), https://doi.org/10.1017/S0022050706000180. Published in _Quarterly Review_ (Vol. 30, No. 1, September 2006) https://doi.org/10.21034/qr.3012
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Staff Report 344 (May 2005)Warren E. Weber
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Working Paper 629 (October 2003)Warren E. Weber
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Quarterly Review 2731 | Summer 2003 (Vol. 27 No. 3)Warren E. WeberThis article is reprinted, with permission, from the _Journal of Monetary Economics_ (Vol. 50, No. 2, March 2003, pp. 455-474). Copyright 2003 by Elsevier Science B.V. All rights reserved.This article was edited for publication in the _Federal Reserve Bank of Minneapolis Quarterly Review_. https://doi.org/10.1016/S0304-3932(03)00008-4
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Quarterly Review 2643 | Fall 2002 (Vol. 26 No. 4)Arthur J. Rolnick, Warren E. Weber, and Bruce D. SmithReprinted From: Quarterly Review (Vol. 22, No. 3, Summer 1998, pp. 11-21), https://doi.org/10.21034/qr.2232
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Quarterly Review 2640 | Fall 2002 (Vol. 26 No. 4)Arthur J. Rolnick and Warren E. Weber
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Working Paper 623 (September 2002)Warren E. Weber
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Quarterly Review 2542 | Fall 2001 (Vol. 25 No. 4)Warren E. Weber and George T. McCandless Jr.Reprinted From: _Quarterly Review_ (Vol. 19, No. 3, Summer 1995, pp. 2-11), https://doi.org/10.21034/qr.1931
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Quarterly Review 2541 | Fall 2001 (Vol. 25 No. 4)Warren E. Weber and Cyril Monnet
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Working Paper 609 (January 2001)Warren E. Weber, Fernando Alvarez, and Robert E. Lucas, Jr.Published in _American Economic Review_ (Vol. 91, No. 2, May 2001, pp. 219-225), https://doi.org/10.1257/aer.91.2.219.
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Quarterly Review 2421 | Spring 2000 (Vol. 24 No. 2)Arthur J. Rolnick, Warren E. Weber, and Bruce D. Smith
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Working Paper 601 (May 2000)Warren E. Weber, Antoine Martin, and Cyril Monnet
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Working Paper 592 (December 1998)Arthur J. Rolnick, Warren E. Weber, and Bruce D. SmithPublished in: _Quarterly Review_ (Vol. 24, No. 2, Spring 2000, pp. 3-13).
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Working Paper 591 (October 1998)Warren E. Weber and Bruce D. SmithPublished in: _Journal of Money, Credit, and Banking_ (Vol. 31, No. 3, August 1999, pp. 624-659), https://doi.org/10.2307/2601080.
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Working Paper 588 (August 1998)Warren E. Weber and François R. VeldePublished in: _Journal of Political Economy_ (Vol. 108, No. 6, December 2000, pp. 1210-1234), https://doi.org/10.1086/317687.
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Quarterly Review 2232 | Summer 1998 (Vol. 22 No. 3)Arthur J. Rolnick, Warren E. Weber, and Bruce D. SmithThis article is reprinted, with permission, from "Lessons From Financial History: Proceedings of the Twenty-Second Annual Economic Policy Conference of the Federal Reserve Bank of St. Louis," a special issue of the _Federal Reserve Bank of St. Louis Review_ (May/June 1998, vol. 80, no. 3, pp. 105-16). The article was edited for publication in the Federal Reserve Bank of Minneapolis Quarterly Review. https://doi.org/10.20955/r.80.105-116
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Working Paper 587 (May 1998)Arthur J. Rolnick and Warren E. Weber
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Quarterly Review 2222 | Spring 1998 (Vol. 22 No. 2)Arthur J. Rolnick and Warren E. WeberThis article is reprinted, with permission, from the _Journal of Political Economy_ (December 1997, vol. 105, no. 6, pp. 1308–21). Copyright 1997 by The University of Chicago. All rights reserved. https://doi.org/10.1086/516394
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Working Paper 584 (November 1997)Arthur J. Rolnick, Warren E. Weber, and Bruce D. SmithPublished in: _Quarterly Review_ (Vol. 22, No. 3, Summer 1998, pp. 11-21).
Published in _Federal Reserve Bank of St. Louis Review_ (May/June 1998, vol. 80, no. 3, pp. 105–16), https://doi.org/10.20955/r.80.105-116. -
Quarterly Review 2142 | Fall 1997 (Vol. 21 No. 4)Arthur J. Rolnick, Warren E. Weber, and François R. VeldeThis article was originally published in the _Journal of Economic History_ (December 1996, vol. 56, no. 4, pp. 789–808). It is reprinted in the Federal Reserve Bank of Minneapolis Quarterly Review with the permission of Cambridge University Press. https://doi.org/10.1017/S0022050700017472
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Staff Report 215 (July 1997)Warren E. Weber, François R. Velde, and Randall WrightPublished in: _Review of Economic Dynamics_ (Vol. 2, No. 1, January 1999, pp. 291-323) https://doi.org/10.1006/redy.1998.0037.
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Working Paper 571 (September 1996)Warren E. Weber and Edward J. Green
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Quarterly Review 2031 | Summer 1996 (Vol. 20 No. 3)Warren E. Weber and Edward J. Green
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Staff Report 175 (October 1995)Arthur J. Rolnick and Warren E. Weber[Additional Files]
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Working Paper 536 (September 1995)Warren E. Weber, François R. Velde, and Arthur J. RolnickPublished in: _Journal of Economic History_ (Vol. 56, No. 4, December 1996, pp. 789-808), https://doi.org/10.1017/S0022050700017472.
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Quarterly Review 1931 | Summer 1995 (Vol. 19 No. 3)Warren E. Weber and George T. McCandless Jr.
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Staff Report 161 (February 1994)Neil Wallace, Warren E. Weber, and Bruce A. ChampPublished in: _Journal of Monetary Economics_ (Vol. 34, No. 3, 1994, pp. 343-358) https://doi.org/10.1016/0304-3932(94)90023-X.
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Quarterly Review 1741 | Fall 1993 (Vol. 17 No. 4)Arthur J. Rolnick, Warren E. Weber, and Bruce D. SmithThis article is adapted from a chapter prepared for a book, _Varieties of Monetary Reforms: Lessons and Experiences on the Road to Monetary Union_, edited by Pierre Siklos, published by Kluwer Academic Publishers (Norwell, Mass.). The article appears here with the permission of Kluwer Academic Publishers.
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Working Paper 504 (August 1993)Warren E. Weber, Bruce D. Smith, and Arthur J. Rolnick
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Staff Report 96 (August 1992)Warren E. Weber and Melvin J. HinichPublished in: _Signal Processing_ (Vol. 37, No. 2, May 1994, pp. 215-228) https://doi.org/10.1016/0165-1684(94)90104-X.
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Quarterly Review 1622 | Spring 1992 (Vol. 16 No. 2)Neil Wallace, Warren E. Weber, and Bruce A. Champ
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Working Paper 307 (February 1991)Warren E. Weber, Robert G. King, and Neil WallacePublished in _Journal of International Economics_ (Vol. 32, Iss. 1-2, pp. 83-108), https://doi.org/10.1016/0022-1996(92)90037-K.
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Quarterly Review 1320 | Spring 1989 (Vol. 13 No. 2)Warren E. Weber
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Quarterly Review 1222 | Spring 1988 (Vol. 12 No. 2)Arthur J. Rolnick and Warren E. WeberReprinted with permission from the _Journal of Monetary Economics_, 1988, vol. 21, no. 1, https://doi.org/10.1016/0304-3932(88)90045-1. All rights reserved.
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Staff Report 97 (May 1987)Arthur J. Rolnick and Warren E. WeberPublished in: _Journal of Monetary Economics_ (Vol. 21, No. 1, January 1988, pp. 47-71) https://doi.org/10.1016/0304-3932(88)90045-1.
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Quarterly Review 1310 | Winter 1987 (Vol. 13 No. 1)Warren E. Weber
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Quarterly Review 1032 | Summer 1986 (Vol. 10 No. 3)Warren E. Weber
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Quarterly Review 1012 | Winter 1986 (Vol. 10 No. 1)Arthur J. Rolnick and Warren E. WeberReprinted with permission from the _Journal of Political Economy_ (February 1986, Vol. 94, No. 1, pp. 185-199), https://doi.org/10.1086/261368.
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Quarterly Review 931 | Summer 1985 (Vol. 9 No. 3)Arthur J. Rolnick and Warren E. Weber
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Working Paper 275 (May 1985)Arthur J. Rolnick and Warren E. WeberPublished in: _Cato Journal_ (Vol. 5, No. 3, Winter 1986, pp. 877-890).
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Staff Report 94 (September 1984)Warren E. Weber
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Staff Report 88 (August 1983)Arthur J. Rolnick and Warren E. WeberPublished in: _Journal of Political Economy_ (Vol. 94, No. 1, February 1986, pp. 185-199) https://doi.org/10.1086/261368. Published in: _Quarterly Review_ (Vol. 10, No. 1, Winter 1986, pp. 17-24) https://doi.org/10.21034/qr.1012.
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Working Paper 236 (June 1983)Warren E. Weber and Arthur J. RolnickPublished in _Journal of Political Economy_ (Vol. 94, No. 1, February 1986, pp. 185-199), https://www.jstor.org/stable/1831965.
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Quarterly Review 632 | Fall 1982 (Vol. 6 No. 3)Arthur J. Rolnick and Warren E. Weber
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Staff Report 79 (November 1982)Arthur J. Rolnick and Warren E. WeberPublished in: _Journal of Monetary Economics_ (Vol. 14, No. 3, November 1984, pp. 267-291) https://doi.org/10.1016/0304-3932(84)90044-8.
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Staff Report 80 (May 1982)Arthur J. Rolnick and Warren E. WeberPublished in: _The American Economic Review_ (Vol. 73, No. 5, December 1983, pp. 1080-1091)
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Staff Report 65 (April 1981)Warren E. Weber and Melvin J. HinichPublished in: _Journal of the American Statistical Association_ (Vol. 79, No. 386, 1984, pp. 368-373), https://doi.org/10.1080/01621459.1984.10478058.
Some of the Excel files below use Pre-1900 dates that Excel does not natively handle. Download the Pre-1900 Date Function Add-In to overcome this limitation. Once downloaded, copy it to C:\Program Files\Microsoft Office\Office10\Library (for Microsoft Office XP). Then open Excel, go to Add-Ins - Tools and check the corresponding box.
Antebellum U.S. State Bank Balance Sheets
- This data set consists of individual bank balance sheets for the antebellum period in the United States compiled from reports of state banking authorities.
Census of State Banks
When using this census of banks, please cite the source as Weber, Warren E. (2005), Census of Early State Banks in the United States.
- This file contains a listing of all banks that existed in the United States between 1784 and 1860 along with their opening and closing dates. Further, if a bank went out of existence, its disposition – whether it closed, failed, or other – is given. For the methodology to obtain beginning and ending dates see Early State Banks in the United States: How Many Were There and When Did They Exist? Journal of Economic History, June 2006: 433-455.
Disaggregated Call Reports for U.S. National Banks, 1880-1910
To cite this data set, please use this reference: Weber, Warren E. 2000. Disaggregated Call Reports for U.S. National Banks, 1880-1910. Research Department, Federal Reserve Bank of Minneapolis.
- This spreadsheet contains the disaggregated national bank call reports by state and reserve city for each call report date. These data appear as compiled by the Comptroller of the Currency. These data are a “cleaned” version of the data published in the Annual Reports of the Comptroller of the Currency. Where assets and liabilities were not equal for a state or reserve city in the original, they have been corrected to be equal in this data set. This was done by comparing for each asset and liability category differences between totals as reported by the Comptroller and totals category obtained by aggregating the individual state and reserve city data. It should also be noted that aggregates for the entire National Banking System should be based on the individual data in this data set and not those reported by the Comptroller. After 1900 the dates for the data for Alaska and Hawaii that the Comptroller used in his totals do not match the dates given in the individual state reports.
International Data, 1810-1995
To cite this data set, please use this reference: Weber, Warren E. 2000. International Data. 1810-1995. Research Department, Federal Reserve Bank of Minneapolis.
- This spreadsheet contains data for Argentina, Brazil, Canada, Chile, France, Germany, Italy, Japan, Netherlands, Norway, Portugal, Spain, Sweden, UK, and US for the period 1810 – 1995. The data reported are for specie, M0, M2, prices, and output. The results in Rolnick-Weber, Journal of Political Economy (1997) are based on the data in this spreadsheet. For a description of how the data are constructed, see Rolnick and Weber, Staff Report 175 (1995).
Quoted Discounts
Railroad Stock Prices, 1834-1845
To cite this data set, please use this reference: Weber, Warren E. Railroad Stock Prices, 1834-1845. Research Department, Federal Reserve Bank of Minneapolis.
- Railroad stock prices, quarterly indices