Debit cards are overtaking credit cards as the most prevalent form of electronic payment at the point of sale, yet the determinants of a ubiquitous consumer choice - "debit or credit?" - have received relatively little scrutiny. Several stylized facts suggest that debit-card use is driven by...

Bond flows to Less Developed Countries (LDCs) proved more resilient than expected to the rising U.S. interest rates during 1994, raising hopes that the current episode of private capital flows to LDCs may not end in a widespread crisis as its predecessors in the 1920s and 1970s did. This paper...

Remarks at the Quarterly Regional Economic Press Briefing, New York City.

Remarks at Cornell University, Ithaca, New York.

Remarks at the University of Rochester, Rochester, New York.

Remarks at the National Association for Business Economics Annual Meeting, New York City.

Remarks at the Quarterly Regional Economic Press Briefing, New York City.

Remarks at the Staten Island Chamber of Commerce, Staten Island, New York.

Remarks at the Barclays 16th Annual Global Inflation-Linked Conference, New York City.