Showing results 1 to 10 of approximately 198.(refine search)
Exit barriers in the steel industry
A study of how excess capacity in the steel industry has persisted because of high exit barriers that have delayed the industry's contraction; includes a discussion of the effects of current trade protection and pension policies on the size of exit barriers.
Estimates of scale and cost efficiency for Federal Reserve currency operations
Meeting the currency demands of depository institutions, businesses, and consumers costs the Federal Reserve more than half a billion dollars each year, yet, very little research has been devoted to understanding what factors affect such costs. The authors estimate a cost function in order to obtain estimates of scale and cost efficiency for this service. They find that as in other paper-based technologies, such as checks, scale economies are achieved at a relatively low level of output, implying that currency services are not a natural monopoly. They also provide estimates of ...
Optimal use of scale economies in the Federal Reserve’s currency infrastructure
Could the Federal Reserve lower its overall currency processing costs by reallocating its high-speed currency sorting volume? Given estimates of currency shipping costs and scale economies for high-speed sorting, the authors? model minimizes costs by optimal distribution of sorting volumes across possible processing sites, while maintaining levels of service to depository institutions. Their key findings are that most of the potential savings can be achieved without closing any existing processing sites and that locating a new site in Phoenix would help lower System processing costs.
Identifying amenity and productivity cities using wage and rent differentials
An explanation of how regional wage and rent differentials can be used to classify metropolitan areas according to their amenity and productivity characteristics.
U.S. banking sector trends: assessing disparities in industry performance
An investigation of the extent to which variations in banking conditions over the past decade were associated with differences in bank size and holding company relationships, finding that very large banks had more problems with loan quality and poor profitability than did smaller banks, and that smaller banks benefited by affiliating with holding companies.
Term structure economics from A to B
The interest rates for bonds of different maturities are related, but the interplay of factors that influence these rates is not easy to tease apart. The author leads the reader through the development of a model of the term structure of interest rates, then works with the model to provide some insights into the interplay of factors, especially the effect of uncertainty on interest rates. His analysis shows how a common simplification known as the expectations hypothesis obscures the significant contribution that uncertainty can make to the determination of interest rates.
Risk in large-dollar transfer systems
An examination of the concept of settlement risk, a description of the large-dollar payment system in the U.S., and an explanation of the increased concern about settlement risk.
Bank capital requirements and leverage: a review of the literature
An assessment of how banks adjust to increased capital requirements, illustrated by a model of a bank's choice of optimal leverage.
Views from the Ohio manufacturing index
An introduction to the experimental Ohio Manufacturing Index and a brief examination of the recent patterns of manufacturing growth occurring in the state.
Comment--Intervention and the dollar's decline
This comment will explain the differences and respecify some of the equations to dispel any misconceptions in Humpage's earlier article of the same title.