A look at both the reported decline in the share of nonfinancial-sector credit intermediated by banks and the consolidation of the industry into fewer, but larger, institutions, revealing that banks today account for nearly the same share of outstanding household and nonfinancial business-sector...

An examination of credit flow rechanneling away from depository institutions over the past decade in response to evolving financial markets and regulatory structure, and a discussion of how this trend has complicated monetary policymaking.

An evaluation of several proposals that would promote additional lending to the small business sector, some through direct government intervention and others by changing existing regulations to promote the market's allocation of credit. The authors argue that market-oriented initiatives are the...

An examination of the potential link between local financial problems and regional economic growth, discussing how the health of the financial sector can affect economic performance when credit markets are segmented along regional lines.

An examination of the pattern of household debt and asset levels in a historical context, whose results cast doubt on the presumption that heavy consumer debt loads incurred during the 1980s are the cause of the economy's current sluggishness.

An argument that curtailing deductions for personal interest expense would be a more effective strategy for increasing national saving.

An exploration of the recent boom in asset-backed lending, or securitization, by both financial institutions and nonbank firms, which the authors contend is more the result of improvements in information technology than a response to the regulatory costs of traditional bank funding.