The presentation of a new econometric technique for estimating a system of cost and input share equations that allow for inefficiency.

A review of the theoretical and empirical relationship between capacity utilization and inflation, employing a two-equation structural model that does not suffer from simultaneity bias and that appears to be stable over time.

A study of the determinants that influence where airlines establish hubs in the hub-and-spoke networks that developed in the industry, with identification of the quantitative effects of these determinants.

Because the automated clearinghouse (ACH) has been found to have lower social costs than paper checks, the Federal Reserve has been promoting more widespread use of ACH by lowering ACH processing fees. In this paper we have obtained the first numerical estimates of ACH demand elasticities, a...

Identity theft—appropriating someone else’s identity for illicit gain—is the fastest-growing financial crime. It can cause considerable financial losses, and cleaning up a trashed credit history can be time consuming and frustrating. This Economic Commentary examines the identity theft...

An examination of the true state of competition and concentration in the airline industry by taking into account the function and effects of the hub-and-spoke networks that have developed in the market.