Legislative and regulatory actions taken in response to the financial turmoil that occurred between 2007-2009 expanded the extent to which financial institution liabilities were protected by federal government guarantees, i.e., these actions expanded the federal financial safety net. How large...

Legislative and regulatory actions taken in response to the financial turmoil that occurred between 2007-2009 expanded the extent to which financial institution liabilities were protected by federal government guarantees, i.e., these actions expanded the federal financial safety net. How large...

In this article, we provide an overview of the key mechanisms by which sectoral disturbances affect aggregate economic activity. We describe how the distribution of sectoral shares influences each sector's contribution to the variation in aggregate output. We also illustrate different aspects of...

Using a factor analytic framework, we show that employment variations differ significantly across sectors. In some sectors, notably in goods production, employment movements are driven almost entirely by aggregate shocks. Because aggregate shocks drive business cycles (i.e., sector-specific...

In this article, we provide an overview of the key mechanisms by which sectoral disturbances affect aggregate economic activity. We describe how the distribution of sectoral shares influences each sector's contribution to the variation in aggregate output. We also illustrate different aspects of...

During recent decades banking markets have changed considerably. Nevertheless, banking antitrust analysis continues to follow the same basic philosophy laid down 40 years ago by the Supreme Court. Does the change in banking markets imply the need to alter antitrust analysis in banking? This...