It is 10:00 a.m., and Paul Davidson is telling the assembled economists how to pull rabbits out of a hat. Metaphorically, of course: Professor Davidson was discussing the assumptions behind a thought-provoking paper presented at the Conference on Credit Allocation: Theory, Evidence, and History, held last October 17-19 in Cleveland. The Federal Reserve Bank of Cleveland and the Journal of Money...

The financial system of the United States contains two large subsystems. The function of the first, generally referred to as monetary policy, is to control the total volume of credit for the purpose of aggregate economic stabilization. The second sub-system, which has no name, consists of a maze of regulations, institutions and tax practices designed to influence the allocation of credit, and h...

E-cash algorithms offer strong protection on principal anonymity, transaction authenticity and quota enforcement of credit dispense but as of now there is no study on how to integrate them with the resource allocation schemes. In this paper, we propose a hypercube based tracking system for both credit dispense and resource allocation of computing assets using E-cash algorithms. Hypercube is cho...

In any country, commercial banks lay the groundwork for economic growth by collecting national resources and capitals and allocating them to different economic sectors. Optimal allocation of resources is especially important in achieving this goal. Banks with an effective and dynamic system of customer assessment can efficiently allocate their resources to customers regardless of their geograph...