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Bank:Federal Reserve Bank of Philadelphia 

Journal Article
Crises, contagion, and coordination: a summary of the 2002 Philadelphia Fed Policy Forum

In our next article, "Crises, Contagion, and Coordination," Loretta Mester summarizes last year's Policy Forum. On pages 16-17, you'll find information about this year's Forum: "Managing the Recovery in Uncertain Times." In "Changes in the Use of Electronic Means of Payment: 1995-2001," Mester updates tables that first appeared in her article in the March/April 2000 Business Review. The tables are based on data from the 2001 Survey of Consumer Finances.
Business Review , Issue Q3 , Pages 8-15

Journal Article
Can the government roll over its debt forever?

Business Review , Issue Nov , Pages 3-18

Journal Article
The return banks have paid on NOW accounts

Business Review , Issue Jul/Aug , Pages 13-23

Journal Article
Interest rates: how much does expected inflation matter?

Business Review , Issue Jul/Aug , Pages 3-12

Journal Article
Does inflation depress the stock market?

Business Review , Issue Nov , Pages 3-12

Journal Article
The U.S. auto industry in the 1990s

Business Review , Issue Jul , Pages 11-20

Journal Article
Real business cycles: a legacy of countercyclical policies?

If business cycles are caused mostly by changes in productivity, rather than by monetary and financial disturbances, what role do monetary and fiscal policies play? In this article, Satyajit Chatterjee discusses the possibility that countercyclical monetary and fiscal policies have played an important role in reducing the severity of business cycles since World War II but that additional countercyclical policies that try to offset movements in productivity aren't likely to be beneficial
Business Review , Issue Jan , Pages 17-27

Journal Article
Banking industry's consolidation: what's a small business to do?

Relaxation of the rules governing where banks can expand and new technologies for providing banking services have contributed to rapid consolidation in the industry. In addition, the number of commercial banks in the United States has been shrinking, and banks have been getting larger. Should we be worried that consolidation will lead to a contraction of credit to small businesses? Read what Loretta Mester has to say on the subject in this article
Business Review , Issue Jan , Pages 3-16

Journal Article
Risk and uncertainty

Many news reports and economic experts talk about uncertainty. But what does the word mean in an economic context? Specifically, what do economists have in mind when they talk about it? In this article, Pablo Guerron-Quintana discusses the concepts of risk and uncertainty, what the difference is between the two terms, and why their presence in the economy may have widespread effects. He also talks about measuring risk at the aggregate level ? that is, risk that affects all participants in the economy ? and he reviews the various types of risk measures that economists have proposed.
Business Review , Issue Q1 , Pages 9-18

Journal Article
When the bubble bursts: psychology or fundamentals?

The prices of stocks, bonds, and other assets frequently fluctuate, and sometimes these fluctuations are quite large. Such price shifts have important economic implications, including the possibility that asset prices have predictive power for the business cycle. In this article, Lee Ohanian analyzes the volatility of security prices and discusses whether movements in asset prices reflect changes in the fundamental value of the asset or whether extreme price changes may be associated with changes in market psychology
Business Review , Issue Jan , Pages 3-13

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Plosser, Charles I. 112 items

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