[...]Importantly, these studies rely entirely on ex post analysis.In other words, the studies ask, Given the actual inflationoutcome, did the costs of TIPS issuances exceed the costs ofnominal Treasury issuances of similar durations? Thisapproach depends on the actual inflation outcome, which...

[...]This article demonstrates that the Bank Holiday that beganon March 6, 1933, marked the end of an old regime, and theFireside Chat a week later inaugurated a new one. TheEmergency Banking Act of 1933, passed by Congress onMarch 9—combined with the Federal Reserve’s commitmentto supply...

The boom in nonprime mortgage lending that occurred inthe United States between 2004 and 2006 was quicklyfollowed by rapid increases in the rate of delinquencies andforeclosures on these loans.1 This pronounced deteriorationalarmed investors, the public, and policymakers.2...

Monetary policy has traditionally been viewed as theprocess by which a central bank uses its influence overthe supply of money to promote its economic objectives. Forexample, Milton Friedman (1959, p. 24) defined the tools ofmonetary policy to be those “powers that enable the [FederalReserve]...

Globalization and technological innovation are two of themost pervasive forces affecting the financial system andits infrastructure. Perhaps nowhere are these trends moreapparent than in the internationalization and automation ofpayments. The evolving landscape is most obvious in retailpayments...

This article investigates the factors influencing the timingand funding of payments in the CHAPS Sterling system,drawing where appropriate on comparisons with paymentactivity in Fedwire...

[...]This article explores in several ways the structure andvocabulary of emerging payments system risks and theirmitigation. We begin by recounting several incidents of fraudand losses associated with emerging payment methods. Wethen describe an economic framework for understanding riskcontrol...

Thomas Huertas vom Institue for Law and Finance an der Goethe-Universität Frankfurt wirft in dem Workingpaper "Containment and Cure:Some Perspectives on the Current Crisis" hauptsächlich zwei Fragen auf: Die Frage nach der Ursache der Weltwirtschaftskrise und wie man eine solche in Zukunft...

[...]This article provides a systematic evaluation of severalproposed measures of U.S. core inflation: the popular ex foodand energy series, an ex energy series, a weighted median series,and an exponentially smoothed series. To inform the currentdebate on this issue, we adopt a general framework...

The rapid growth of e-commerce and the Internet has led tothe development of new payment mechanisms capableof tapping the Internet’s unique potential for speed andconvenience. A recent and especially successful exampleof such a development is the personal on-line payment:a mechanism that uses...