Philadelphia Fed Business Review, 3rd Quarter 2005

The Federal Reserve Bank of Philadelphia has published its regular Business Review for the Third Quarter 2005. The latest edition includes articles titled, The changing patterns of payments in the United States, The economics of asset securitization, and Do budget deficits cause inflation?

In "The Changing Patterns of Payments in the United States," President Anthony Santomero highlights the differences between U.S. and European payments infrastructure; discusses how the roots and evolution of

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