"We suggest a subtle, yet far- reaching, tension in the objectives specified by the Monetary Control Act of 1980 (MCA) for the Federal Reserve's role in providing retail payment services, such as check processing. Specifically, we argue that the requirement of an overall cost-revenue match,...

Los años ochenta han sido calificados como “la década perdida” para México, como un reflejo de las altas tasas de inflación y el bajo crecimiento económico que caracterizó la economía del país durante dicho periodo. Gran parte de las dolencias económicas y financieras que asolaron a...

Using a unique set of banking data containing both originally reported and subsequently revised financial variables, we study the incidence of adverse revisions to accounting statements. As might be expected, our findings indicate banks are more likely to underreport financial losses when their...