December 3, 2012
The Saint Francis Society of Economic Analysis (SEA) has been busy the past few weeks as they fielded a Fed Challenge team and published two articles related to economics and the recent election.
The team traveled to Lafayette College on November 8, to compete at the Philadelphia District (District 3) finals of The College Federal Reserve Challenge of the Federal Reserve System. They competed against eight other schools from the tri-state (PA, NJ, and DE) area. This was the third year Saint Francis participated in this prestigious competition.
The team’s presentation included an overview of the current state of the U.S. economy as well as a recommendation that the Fed continue pursuing QE3 as well as a reduction in the interest rate paid on bank reserves deposited at the Federal Reserve bank. The team’s major economic focus was restoring activity in the U.S. housing market.
The Fed Challenge presentation team consists of 6 members: Caleb Brantner (captain), Timothy Keith, Juan Pardo Montoya, Lucas Schulze, Conor Norris, and Leah Kessler (alternate). Ethan Berkebile, Matthew Jurjevich, Josh Chumrik and Pablo Medina contributed throughout the semester. The Fed Challenge team is advised by Edward Timmons, associate professor of economics.
Three SEA club members collaborated with Dr. Edward J. Timmons on two articles that were published in the Nov. 2 issue of Marcellus Business Central. The first article, “Is there an ‘election-year effect’ in the stock market?”, documents long term trends in stock market returns during a president’s term in office. The article was written by Caleb Brantner (lead author), Juan Pardo Montoya, and Edward J. Timmons.
The second article, “Who is a better driver of the economy: The donkey or the elephant?", also examines long term trends in the stock market to see if the stock market performs better with a Democrat or Republican president. The article was written by Timothy Keith (lead author), Juan Pardo Montoya, and Edward J. Timmons.