Search Results
Journal Article
The role of community banks in the U.S. economy
The U.S. banking system is unusual in consisting not only of some very large banks but also a large number of relatively small community banks. This bifurcated banking system in the United States has served the economy well. Over time, with regulatory change and financial innovation, large banks have become complex organizations engaged in a wide range of activities. They provide a variety of services to their customers, but often rely on hard financial information, computer models, and centralized decision-making as the basis for conducting business. In contrast, small banks have focused ...
Journal Article
Labor compensation and inflation during business expansion
Briefing
Who's processing your payments?
This article looks at the many roles nonbanks play in payments activities and the oversight questions that arise as a result.
Journal Article
Maintaining central bank credibility
Central banks around the world potentially face a skeptical public when they announce a commitment to controlling inflation. Some economists have argued that, to enhance credibility, central banks should adopt monetary growth rules or other institutional arrangements. Yet it appears there are no costless solutions to the credibility problem.
Working Paper
Competition and credit and debit card interchange fees: a cross-country analysis
This paper seeks to provide a bridge between the theoretical and empirical literatures on interchange fees. Specifically, the paper confronts theory with practice by asking, to what extent do existing models of interchange fees match up with actual interchange fee practices in various countries? For each of four countries?Australia, the Netherlands, the UK, and the United States?models that ?best? fit the competitive and institutional features of that country?s payment card market are identified, and the implications of those model are compared to actual practices. Along what competitive ...
Monograph
A guide to the ATM and debit card industry - 2006 update
It has been three years since we published A Guide to the ATM and Debit Card Industry. Those three years represent a very dynamic time in the industry with a number of important developments. Some trends and patterns have persisted or accelerated, while others have peaked or reversed. Still others have emerged for the first time. The purpose of this 2006 Update is to document these trends and patterns by updating the data we presented in the original book and to discuss their implications for the current and future state of the industry. ; The most important development is that the two ...
Journal Article
Income inequality : a summary of the Bank's 1998 Symposium
Income inequality has become an increasingly important public policy issue in industrialized countries in recent years. Although macroeconomic conditions have been favorable in many of these countries, the distribution of income within and across countries has remained uneven. In fact, in several countries, income inequality has risen. As a result, policymakers have become concerned that large segments of the population are not reaping the benefits of economic growth.> To gain a better understanding of these issues, the Federal Reserve Bank of Kansas City sponsored a symposium titled ...
Journal Article
New estimates of the natural rate of unemployment
Journal Article
Union COLA's on the decline
Working Paper
Determinants of the decline in union COLA's