Although mobile payments are increasingly used in some countries, they have not been adopted widely in the United States so far, despite their potential to add value for consumers and streamline the payments system. After describing a few countries’ experiences, we analyze the prospects for the U.S. market for mobile payments in retail payments, particularly the use of contactless and near-fiel...

a r t i c l e i n f o JEL classification: C22 E44 F31 Keywords: Monetary shocks Asymmetric effects MSVAR–EGARCH In this paper, we study the effect of monetary shocks on the Chinese stock market over the period of 2005 to 2011 with the MSVAR–EGARCH model. The evidence suggests that Chinese monetary policies have significantly asymmetric effects on the stock market in different time periods and m...

There is a shortage of power supply in multi provincial grid during peak load period. The response speed interruptible fast, and it has the same excellent regulation performance as standby on generation side, which can meet needs fast transfer. Aiming at situation participating joint market under bilateral mode, this paper designs clearing process electric energy reserve considering load, estab...

The Federal Reserve has been providing paper currency since its founding in 1913. In fact, the major purpose for creating the Federal Reserve System was to furnish an “elastic currency” that would make financial crises, such as the panic of 1907, less severe. While much has changed in the financial landscape over the last 87 years, currency remains an integral part of the U.S. payments system, ...

Working papers of the Federal Reserve Bank of Cleveland are preliminary materials circulated to stimulate discussion and critical comment on research in progress. They may not have been subject to the formal editorial review accorded offi cial Federal Reserve Bank of Cleveland publications. The views stated herein are those of the authors and are not necessarily those of the Federal Reserve Ban...

In this article, I discuss which Federal Reserve (Fed) policies implemented impacted Money Market Funds (MMFs) inflows or outflows the most. The timeframe is March 2020, with exigence of COVID-19 pandemic. This research necessary because it helps know can support short-term money market. Short-term market vital for economy provides funding banks are foundation US economy. Although MMFs only a p...