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Journal Article
Coordinating circuit breakers in stock and futures markets
Journal Article
The long-run costs of moderate inflation
Long-run price stability is generally considered to be a primary goal of monetary policymakers in many countries. One reason policymakers care about inflation is that it can harm economic performance. Numerous studies of the impact of inflation on economic performance have focused on whether increases in inflation reduce economic growth in the long run These studies have found that prolonged high inflation does in fact reduce economic growth, but they were not able to detect a significant long-run relationship between real growth and low or moderate inflation. Because anti-inflationary ...
Journal Article
Why do banks' loan losses differ?
Journal Article
What should banks be allowed to do?
The health of the U.S. economy is heavily dependent on the health of the banking system. Commercial banks support economic activity through a number of traditional services-taking deposits, making loans, and providing payment services. Many of today's large banking organizations, however, don't look much like traditional banks. Morris examines how the financial structure has changed over the years and resulted in more complex banking organizations that combine traditional banking and nonbank activities. The increased complexity may have also increased their risk. Increased risk, in turn, can ...
Journal Article
Are bank loans still special?
Working Paper
The determinants of banking market structure
Journal Article
Does money still forecast economic activity?
Journal Article
The productivity \\"slowdown\\": a sectoral analysis
Journal Article
The competitive effects of interstate banking