Recently added articles from Economic Review - Federal Reserve Bank of San Francisco:

Information and Communications Technology as a General Purpose Technology: Evidence from U.S. Industry Data*

Jan 01, 2008; Basu, Susanto; Fernald, John G ... Many people point to information and communications technology (ICT) as the key for understanding the acceleration in productivity in the United States since the mid-1990s. Stories of ICT as a general purpose technology (GPT) suggest that measured total factor productivity (TFP) should rise in ...

The Role of Relative Performance in Bank Closure Decisions*

Jan 01, 2008; Kasa, Kenneth; Spiegel, Mark M ... This paper studies a banking industry subject to common and idiosyncratic shocks. We compare two types of regulatory closure rules: (1) an "absolute closure rule," which closes banks when their asset-liability ratios fall below a given threshold, and (2) a "relative closure rule," which closes ...

The Quantity and Character of Out-of-Market Small Business Lending*

Jan 01, 2008; Laderman, Elizabeth S ... Most small business lending from banks originates with institutions that have a local branch, but "out-of-market" lending does not. Supporting the view that proximity is conducive to lending, I find that only about 10 percent of small business lending is from banks with no branch in the local ...