Federal Reserve – The Final Frontier: The Integration of Banking and Commerce

by Sabrina I. Pacifici on September 2, 2008

The Final Frontier: The Integration of Banking and Commerce, Part 2: Risk and Return Using Efficient Portfolio Analysis, Alan K. Reichert, Larry D. Wall, and Hsin-Yu Liang, Economic Review, Vol. 93, No. 2, 2008.

  • “In the first part (in the previous issue of Economic Review) of this two-part study, the authors identified a number of possible benefits from combining banking and commerce, including portfolio diversification, the creation of internal capital markets, and economies of scale and scope. This second part of the study analyzes the one source of possible gains—portfolio diversification—that can be estimated with existing data.”
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