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Journal Article
Differences across First District banks in operational efficiency
Economists devoted little attention to differences across banks in operational efficiency until about 15 years ago, when banks began to fail with increasing frequency. Some economists attributed the rising failure rate in part to intensified competitive pressures generated by deregulation and technological innovation. If this hypothesis is correct, and a significant number of banks are still inefficiently managed, then further deregulation and technological change could "shake up and shake out" the banking industry. Using data from 1985 through 1993, this study evaluates the extent to which ...
Journal Article
The downturn in the New England economy: what lies behind it?
After a long period of vigorous growth--a period in which New England grew faster than the rest of the United States--employment in New England leveled off in 1989. This slowdown represents both a cyclical adjustment and a disturbing erosion in New Englands competitive position. ; To help clarify the causes of the downturn and the implications for the regions future development, this article develops a framework for analyzing regional economies, applies that framework to New England and other regions of interest, and examines New Englands share of national markets in key industries. The ...
Journal Article
Planning for New England's electricity requirements
Journal Article
New England gross product
Journal Article
Shifting regional fortunes: the wheel turns