[...]This paper examines some of the potential consequences ofGLB for the structure of the U.S. financial services industry. Init, we ask how the industry may evolve as this new legislationinteracts with the consolidation trend already under way, whattypes of mergers are most likely to occur,...

[...]Because of these concerns, this article examines the value ofthe Senior Loan Officer Opinion Survey in predicting bothlending and output.1 We find that the changes in commercialcredit standards reported by loan officers are indeed linked toaggregate loan growth. Commercial lending by U.S....

[...]This article explores the inflation puzzle andinvestigates whether compensation has acted as either atemporary restraint on inflation or as the underlying sourceof a new inflation regime.2 After reviewing the recent behavior of inflation, we specify and estimate a traditionalprice-inflation...