The Evolution of the Check as a Means of Payment: A Historical Survey
Stephen Quinn and William Roberds
Vol. 93, No. 4
Despite their relative inefficiency, checks dominated the twentieth-century U.S. payment system. This article traces checks' thousand-year history, discussing how events created comparative advantages for checks that are only now being overcome by electronic payment methods.
New Financing Trends in Latin America: An Overview of Selected Issues and Policy Challenges
Camilo E. Tovar and Myriam Quispe-Agnoli
Vol. 93, No. 3
This article summarizes a 2007 conference that explored the nature and implications of major transformations in Latin American financial markets, such as the shift from cross-border to domestic financing and the development of domestic bond markets.
The Final Frontier: The Integration of Banking and CommercePart 2: Risk and Return Using Efficient Portfolio Analysis
Alan K. Reichert, Larry D. Wall, and Hsin-Yu Liang
Vol. 93, No. 2
Using hypothetical portfolios created from historical data on industry profitability, the authors demonstrate that some combinations of banks with other industries could produce higher returns on equity with less risk.
The Final Frontier: The Integration of Banking and Commerce
Part 1: The Likely Outcome of Eliminating the Barrier
Larry D. Wall, Alan K. Reichert, and Hsin-Yu Liang
Vol. 93, No. 1
Exploring the potential effects of removing the legal barriers between banks and commercial firms, this article surveys economic theory as well as experience in other developed countries and in U.S. nonbank conglomerates.