An investigation of one of the reasons why electronic payments have not yet supplanted cash and checks in retail transactions: Consumers willingness to use an innovation depends on the number of merchants who have already adopted it, and merchants willingness to invest in the innovation depends...

An analysis of the often-understated role of capital flows from the United States to Mexico following passage of the North American Free Trade Agreement in late 1993, examining their implications for the Mexican economy.

This paper examines two proposals to correct the risk-taking incentives embedded in the current deposit insurance system and to provide protection to the deposit insurance fund. the first would require banks to issue subordinated debt, and the second would require bank stockholders to post...

This paper considers the impact of U.S. and German central bank intervention on the risk premium in forward foreign exchange markets.