The emergence of the internet leads to a vast increase in the number of interactionsbetween parties that are completely alien to each other. In general, such transactionsare likely to be subject to fraud and cheating. If such systems use computerized rationalagents to negotiate and execute...

The globalization of banking in the United States is influencing the monetarytransmission mechanism both domestically and in foreign markets. Using quarterlyinformation from all U.S. banks filing call reports between 1980 and 2005, we findevidence for the lending channel for monetary policy in...