Search Results
Journal Article
The electronic purse
The electronic purse, a new payments instrument offering advantages to both consumers and merchants, may soon replace currency in many routine transactions. Widespread use of the electronic purse could, however, raise concerns about consumer protection and the safety and soundness of the instrument.
Journal Article
Small time deposits and the recent weakness in M2
The authors review the supply and demand side developments that may have contributed to the recent decline in small time deposits and weak M2 growth. They also consider whether M2 should be redefined to exclude small time deposits in light of the recent difficulties in interpreting the performance of M2.
Journal Article
The monetary aggregates in 1985
Journal Article
Current labor market trends and inflation
Journal Article
Second District update: a moderate recovery is in progress
After a prolonged recession, the Second District's economy began to expand in the second half of 1993. Several indicatorsthe growing volume of exports from the region, strong earnings on Wall Street, and job growth at newly formed businessessuggest that the recovery can be sustained in the quarters immediately ahead. In a supplemental analysis, the authors find that new small firms are the primary source of job generation in New York State, although they note that such firms also carry a higher risk of failure.
Report
Consumer payments over open computer networks
The increasing prospects for large volumes of commerce taking place over open computer networks has created considerable interest in the security and technology of open computer network commerce. In this paper, we explain how the basic encryption technology for sending secure messages works, and how this technology can be used to create electronic payment instruments, including cash, credit card, and check payments. We also review briefly the necessary elements required to support encryption technology: (1) a certification authority, (2) mathematical complexity of the encryption formulas, (3) ...