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Quartely Review

2003, v. 27, n. 3

  • Página 2-16
    Autor/es: Warren E. Weber.
    Título: Interbank Payments Relationships in the Antebellum United States: Evidence From Pennsylvania.
    Resumen: This article investigates U.S. interbank relationships before the Civil War using previously unknown data for Pennsylvania banks from 1851 to 1859 that disaggregate the amounts due from other banks by debtor bank. It finds that country banks, banks outsid

  • Página 17-33
    Autor/es: Stefania Albanesi, V. V. Chari, and Lawrence J. Christiano.
    Título: How Severe is the Time-Inconsistency Problem in Monetary Policy?
    Resumen: This study analyzes two monetary economies, a cash-credit good model and a limited-participation model. In these models, monetary policy is made by a benevolent policymaker who cannot commit to future policies. The study defines and analyzes Markov equili