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Bank:Federal Reserve Bank of Philadelphia  Series:Business Review 

Journal Article
What are the costs of disinflation?

Business Review , Issue May , Pages 3-16

Journal Article
Interest rate swaps: a new tool for managing risk

Business Review , Issue May/Jun , Pages 17-25

Journal Article
The gains from international risk-sharing

The author examines the data on just how much risk-sharing currently takes place in both developed and developing countries. He also considers the question of whether significant unexploited gains from risk-sharing exist across borders.
Business Review , Issue Q3 , Pages 23-32

Journal Article
Non-open-market monetary policy operations

Business Review , Issue Jan , Pages 3-15

Journal Article
Should business bankruptcy be a one-chapter book?

Mitchell Berlin raises the question "Should Business Bankruptcy Be a One-Chapter Book?" The answer, in part, depends on the answers to other questions: What makes more economic sense? A bankruptcy system that auctions a firm's assets and distributes the proceeds among the creditors? Or one that allows the firm to seek to resume business after renegotiations between its stockholders and its creditors? Or is there room?or even a need?for both?
Business Review , Issue Q3 , Pages 18-25

Journal Article
How efficient are Third District banks?

Business Review , Issue Jan , Pages 3-18

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
Margaret Thatcher's economic experiment: are there lessons for the Reagan Administration?

Business Review , Issue May/Jun , Pages 3-13

Journal Article
Understanding the life-cycle of a manufacturing plant.

In the final article this quarter, Aubhik Khan wonders: What determines whether a manufacturing plant survives? Is it access to credit markets? Or does learning about plants' profitability over time determine survival? Should government policy play a role in helping plants survive? In "Understanding the Life-Cycle of a Manufacturing Plant," Khan discusses the collateral and learning views as two possible explanations for a typical plant's life-cycle. He concludes that although it remains unclear as to which explanation is more relevant, the two views have very different implications for ...
Business Review , Issue Q2 , Pages 25-32

Journal Article
Antitrust issues in payment systems: bottlenecks, access, and essential facilities

Business Review , Issue Sep , Pages 3-12




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