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Conference Paper
Nonbanks in the payments system: European and U.S. perspectives
Working Paper
Determinants of the decline in union COLA's
Journal Article
Interchange fees in Australia, the UK, and the United States : matching theory and practice
Interchange fees are an integral part of the pricing structure of credit and debit card industries. While in recent years the theoretical literature on interchange fees, and payment cards in general, has grown rapidly, the empirical literature has not. There are several reasons for this. First, comprehensive data are hard to obtain. Second, the industries are very complicated, and empirical models need to incorporate many industry-specific features, such as payment-card network rules and government regulations. And third, empirical studies may require a generalized empirical model since, ...
Journal Article
Has the cost of disinflation declined?
Journal Article
Budget deficits and debt: a summary of the Bank's 1995 Symposium
Chronic government budget deficits and escalating government debt have become major concerns in both developed and developing countries. To address the far-ranging implications, the bank's 1995 symposium in Jackson Hole, Wyoming, brought together a distinguished group of central bankers, finance ministers, academics, and financial market representatives from around the world.> Weiner summarizes the papers and commentary presented at the symposium. The discussions were marked by unusually strong agreement on several points. First, most participants agreed that government deficits and debt are ...
Working Paper
Interchange fees in various countries: developments and determinants
Interchange fees and related issues in credit and debit card markets have been the focus of considerable attention in recent years. The academic community has begun to address the economics of these markets. Public officials have begun to address the policy implications of developments in these markets. Meanwhile, these markets continue to experience dynamic change as credit, and especially debit, transactions account for an ever-growing share of overall payments. This paper provides an overview of interchange fee developments and issues in a number of countries. It also presents a ...
Journal Article
Why is Japan's unemployment rate so low and so stable?
Journal Article
The natural rate of unemployment: concepts and issues
Briefing
A new era
The U.S. payments system has entered a new era ? one that is witnessing a marked decline in the use of paper checks and a sharp increase in the use of electronic payments.
Journal Article
The changing role of reserve requirements in monetary policy