[...]In this article, we measure banks’ alternative fundingsources for Fedwire funds transfers throughout the day, usinga data set that includes all banks’ Fedwire funds transfers andFederal Reserve System deposits. This approach allows us togauge the importance of incoming payments as a...

In the field of housing economics, there is a long traditionof evaluating housing outcomes for the entire populationand various subgroups by tracking four key variables, orconcepts: the physical adequacy of the occupied housingunit, the number of people living in the unit relative to thenumber...

This paper explores changes in the relationship betweenrace, income, and criminal victimization over time. Interestin this question is motivated by the widening incomedistribution of the last two decades. Between 1980 and1994, the share of income earned by the top 5 percentof American families...

Many papers have shown that U.S. earnings inequalityincreased substantially from about 1980 to around 1996.1Recent and careful studies agree that a basic explanationfor increased earnings inequality is the rising returns tohuman capital resulting from new technology. These risingreturns have...

[...]The purpose of this article is to develop a clearerpicture of the importance of payments services to the bankingindustry. This goal is served by taking a broad view of thepayments business and analyzing information provided bylarge bank holding companies (BHCs) in their annualreports. BHCs...

This paper explores the connections betweenbroad economic indicators in the New Yorkmetropolitan region and their national counterparts.It compares the performance of theregion in recent years with that of the nation and assessesthe importance of national and local developments for thearea’s...

Beginning with the important work of Murphyand Welch (1992), a great deal of recentresearch has attempted to document andexplain the dramatic changes in the wage distributionthat occurred during the 1980s (see also Katz andMurphy 1992). Practically every income group faced adecline in real wages...