"We use the methodology applied at the aggregate level by Gali and Gertler (1999) to analyze price and cost data for U.S. six-digit North American Industry Classification System (NAICS) industries. Industries with price adjustment periods of at least 6 quarters generate no more than about 43% of...

This paper develops a model of the banking firm and tests for the presence of 'portfolio separation.' The theoretical model generalizes existing intertemporal adjustment-costs models by assuming that these costs coexist simultaneously on both sides of the bank's balance sheet. Our analysis...

During the past two decades, a growing body of research has explored the implications of increased trade and financial openness for the relationship between output and inflation. This paper reviews proposed theoretical channels through which the degree of openness might ultimately affect the...

Since passage of the Economic Stabilization Act of 2008, the government has been explicitly and implicitly regulating the compensation of top managers at a number of U.S. banks. In addition, bank regulators have added evaluations of bank management compensation packages to the list of factors...

Building on the literature emphasizing banks’ monitoring functions, recent contributions to the literature examining the effects of capital regulation have focused attention on the influences of capital requirements on bank incentives to monitor loans for moral hazard risks. Empirical evidence...

This paper reviews what economists have learned about Internet banking. The paper begins by surveying evidence regarding the fundamental motivations for banks to offer services via the Internet and for their customers to utilize the services. It considers the experience of and future prospects...