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Bank:Federal Reserve Bank of Cleveland 

Journal Article
Sources of regional growth disparity: the case of Ohio's industries

An examination of industrial structure and competitive position as factors contributing to disparity in Ohio's regional economic growth, and a discussion of changing economic conditions and business cycle dynamics as they have affected Ohio's industries.
Economic Commentary , Issue Dec

Journal Article
Private money in our past, present, and future

The government isn?t the only entity allowed to issue money. Private citizens and businesses can too, and throughout U.S. history, they often have. But private money?as such money is called?isn?t issued much these days. What lessons have our experiences with private money taught us, and what do they imply for our money today and in the future?
Economic Commentary , Issue Jan

Journal Article
The check is dead! Long live the check! A Check 21 update

Check 21 legislation has enabled the check clearing system to transform from paper to electronics, and much more rapidly than some had predicted. As a result of competition with other payment methods, check use has been declining since the mid-1990s, but because of the rapid adoption of electronic payment methods, checks are evolving and are unlikely to disappear anytime soon. Checks are still a convenient way to initiate some payments, and electronic processing has only made them more competitive with all types of electronic payments.
Economic Commentary , Issue Jun

Journal Article
The dollar in the eighties

An analysis of exchange-rate patterns and a discussion of factors thought to influence the strength of the dollar in the foreign exchange market.
Economic Commentary , Issue Sep

Working Paper
Private money creation and the Suffolk Banking System

Recent legislation has removed U.S. legal impediments to issuing private bank notes. At the same time, improved transaction technologies have enabled banks and other entities to issue various forms of "e-cash." Consequently, developed economies may soon see the reemergence of privately issued substitutes for currency. The authors examine the potential economic consequences using the Bank of Suffolk as a model.
Working Papers (Old Series) , Paper 9821

Working Paper
Diagnosing labor market search models: a multiple-shock approach

We construct a multiple shock, discrete time version of the Mortensen-Pissarides labor market search model to investigate the basic model?s well-known tendency to underpredict the volatility of key labor market variables. In addition to the standard labor productivity shock, we introduce shocks to matching effi ciency and job separation. We conduct two set of experiments. First, we estimate the joint probability distribution of shocks that simultaneously satisfy the observed data and the fi rst-order conditions of the multiple-shock model, and then simulate its properties. Although the ...
Working Papers (Old Series) , Paper 1211

Journal Article
Are we saving enough?

Americans are saving less than they used to. At the same time, they are spending more years in retirement, and Social Security still has long-term financial shortfalls. The author finds that most American households must raise their saving rates considerably if they are to maintain their current living standards through retirement.
Economic Commentary , Issue Jul

Conference Paper
How much bang for the buck? Mexico and dollarization


Working Paper
Systemic risk analysis using forward-looking distance-to-default series

Based on contingent claims theory, this paper develops a method to monitor systemic risk in the European banking system. Aggregated Distance-to-Default series are generated using option prices information from systemically important banks and the DJ STOXX Banks Index. These indicators provide methodological advantages in monitoring vulnerabilities in the banking system over time: 1) they capture interdependences and joint risk of distress in systemically important banks; 2) their forward-looking feature endow them with early signaling properties compared to traditional approaches in the ...
Working Papers (Old Series) , Paper 1005



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Mester, Loretta J. 104 items

Carlstrom, Charles T. 98 items

Haubrich, Joseph G. 98 items

Humpage, Owen F. 96 items

Thomson, James B. 93 items

Craig, Ben R. 69 items

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