id sid eid entity type cblr-3009 1 1 two CARDINAL cblr-3009 1 2 two CARDINAL cblr-3009 1 3 dennis w. carlton* alan s. frankel** i. PERSON cblr-3009 1 4 617 ii CARDINAL cblr-3009 2 1 618 CARDINAL cblr-3009 3 1 618 CARDINAL cblr-3009 5 1 622 CARDINAL cblr-3009 5 2 624 CARDINAL cblr-3009 5 3 d. NORP cblr-3009 5 4 two CARDINAL cblr-3009 5 5 626 iii QUANTITY cblr-3009 5 6 two CARDINAL cblr-3009 5 7 631 CARDINAL cblr-3009 5 8 631 CARDINAL cblr-3009 5 9 633 CARDINAL cblr-3009 5 10 635 CARDINAL cblr-3009 5 11 d. NORP cblr-3009 6 1 637 CARDINAL cblr-3009 7 1 641 CARDINAL cblr-3009 7 2 two CARDINAL cblr-3009 7 3 carlton PERSON cblr-3009 7 4 the university of chicago graduate school of business ORG cblr-3009 8 1 frankel PERSON cblr-3009 9 1 gustavo bamberger PERSON cblr-3009 9 2 kevin murphy PERSON cblr-3009 9 3 allan shampine PERSON cblr-3009 9 4 jean tirole PERSON cblr-3009 9 5 april 2005 DATE cblr-3009 9 6 two CARDINAL cblr-3009 9 7 the columbia university school of law ORG cblr-3009 10 1 carlton PERSON cblr-3009 10 2 frankel PERSON cblr-3009 10 3 mastercard ORG cblr-3009 12 1 two CARDINAL cblr-3009 13 1 mastercard ORG cblr-3009 13 2 visa bank joint ventures ORG cblr-3009 13 3 two CARDINAL cblr-3009 15 1 two CARDINAL cblr-3009 16 1 visa ORG cblr-3009 16 2 mastercard ORG cblr-3009 16 3 two CARDINAL cblr-3009 19 1 two CARDINAL cblr-3009 19 2 two CARDINAL cblr-3009 22 1 1 CARDINAL cblr-3009 22 2 william f. baxter PERSON cblr-3009 22 3 26 CARDINAL cblr-3009 22 4 j.l. & econ ORG cblr-3009 23 1 541 CARDINAL cblr-3009 23 2 1983 DATE cblr-3009 23 3 two CARDINAL cblr-3009 24 1 inst PERSON cblr-3009 25 1 275 CARDINAL cblr-3009 25 2 2004 DATE cblr-3009 26 1 coluama PERSON cblr-3009 27 1 la w FAC cblr-3009 27 2 vie w PERSON cblr-3009 28 1 2005 DATE cblr-3009 31 1 1 MONEY cblr-3009 31 2 9 MONEY cblr-3009 31 3 wal-mart ORG cblr-3009 31 4 1 MONEY cblr-3009 31 5 10 MONEY cblr-3009 31 6 wal-mart ORG cblr-3009 31 7 wal-mart ORG cblr-3009 31 8 1 MONEY cblr-3009 32 1 bob PERSON cblr-3009 32 2 wal-mart's ORG cblr-3009 35 1 one CARDINAL cblr-3009 38 1 two CARDINAL cblr-3009 40 1 wal-mart ORG cblr-3009 41 1 2 CARDINAL cblr-3009 43 1 1 MONEY cblr-3009 43 2 the end of a month DATE cblr-3009 43 3 1 MONEY cblr-3009 45 1 3:617 CARDINAL cblr-3009 45 2 columbia business la w ORG cblr-3009 45 3 three CARDINAL cblr-3009 45 4 1 CARDINAL cblr-3009 45 5 2 CARDINAL cblr-3009 45 6 3 CARDINAL cblr-3009 56 1 george j. stigler PERSON cblr-3009 56 2 59 CARDINAL cblr-3009 56 3 j. pol. 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ORG cblr-3009 209 2 annual DATE cblr-3009 209 3 2 CARDINAL cblr-3009 209 4 dec. 31, 2004 DATE cblr-3009 212 1 3:617 CARDINAL cblr-3009 212 2 columbia business law review ORG cblr-3009 212 3 two CARDINAL cblr-3009 213 1 two CARDINAL cblr-3009 213 2 two CARDINAL cblr-3009 216 1 two CARDINAL cblr-3009 217 1 two CARDINAL cblr-3009 217 2 two CARDINAL cblr-3009 218 1 method.29 PERSON cblr-3009 220 1 the end of the month DATE cblr-3009 221 1 two CARDINAL cblr-3009 222 1 mastercard ORG cblr-3009 224 1 2 CARDINAL cblr-3009 225 1 29 CARDINAL cblr-3009 226 1 2005 DATE cblr-3009 227 1 one CARDINAL cblr-3009 228 1 mastercard ORG cblr-3009 228 2 only about 13ยข CARDINAL cblr-3009 228 3 less than 0.19% PERCENT cblr-3009 228 4 72.28.31 MONEY cblr-3009 230 1 mastercard ORG cblr-3009 232 1 one CARDINAL cblr-3009 232 2 mastercard ORG cblr-3009 232 3 1.75%-and CARDINAL cblr-3009 233 1 30 CARDINAL cblr-3009 234 1 first ORDINAL cblr-3009 234 2 mastercard ORG cblr-3009 234 3 first ORDINAL cblr-3009 234 4 first data co. ORG cblr-3009 234 5 quarterly DATE cblr-3009 234 6 10 CARDINAL cblr-3009 234 7 59 DATE cblr-3009 234 8 september 30, 2002 DATE cblr-3009 235 1 3' DATE cblr-3009 235 2 annual DATE cblr-3009 235 3 27 CARDINAL cblr-3009 235 4 45 CARDINAL cblr-3009 235 5 32 CARDINAL cblr-3009 235 6 ken posner PERSON cblr-3009 235 7 morgan stanley ORG cblr-3009 236 1 morgan stanley ORG cblr-3009 236 2 new york GPE cblr-3009 236 3 mar. 8, 2005 DATE cblr-3009 236 4 3 CARDINAL cblr-3009 238 1 mastercard ORG cblr-3009 238 2 one CARDINAL cblr-3009 247 1 mastercard ORG cblr-3009 247 2 monthly DATE cblr-3009 248 1 4 CARDINAL cblr-3009 248 2 alan s. frankel PERSON cblr-3009 248 3 66 CARDINAL cblr-3009 248 4 313 CARDINAL cblr-3009 248 5 341 CARDINAL cblr-3009 248 6 1998 DATE cblr-3009 249 1 la w FAC cblr-3009 249 2 vie w PERSON cblr-3009 250 1 2005 DATE cblr-3009 251 1 5 CARDINAL cblr-3009 252 1 1 MONEY cblr-3009 252 2 half CARDINAL cblr-3009 252 3 0.50 MONEY cblr-3009 254 1 mastercard ORG cblr-3009 255 1 first ORDINAL cblr-3009 256 1 6 baxter QUANTITY cblr-3009 256 2 mastercard ORG cblr-3009 257 1 mastercard int'l inc. ORG cblr-3009 257 2 9.12 CARDINAL cblr-3009 257 3 2005 DATE cblr-3009 259 1 d. NORP cblr-3009 261 1 36 CARDINAL cblr-3009 261 2 1 CARDINAL cblr-3009 261 3 553 CARDINAL cblr-3009 261 4 four CARDINAL cblr-3009 267 1 baxter PERSON cblr-3009 268 1 10 MONEY cblr-3009 268 2 9 MONEY cblr-3009 268 3 10 MONEY cblr-3009 268 4 1 MONEY cblr-3009 271 1 37 CARDINAL cblr-3009 272 1 frankel PERSON cblr-3009 272 2 supra PERSON cblr-3009 272 3 34 CARDINAL cblr-3009 272 4 314 CARDINAL cblr-3009 274 1 1 CARDINAL cblr-3009 274 2 553 CARDINAL cblr-3009 275 1 la w FAC cblr-3009 275 2 vie w PERSON cblr-3009 276 1 2005 DATE cblr-3009 276 2 two CARDINAL cblr-3009 278 1 zero CARDINAL cblr-3009 279 1 baxter PERSON cblr-3009 279 2 two CARDINAL cblr-3009 285 1 mastercard ORG cblr-3009 285 2 40 CARDINAL cblr-3009 285 3 baxter PERSON cblr-3009 287 1 rochet & tirole ORG cblr-3009 287 2 1 CARDINAL cblr-3009 287 3 20 CARDINAL cblr-3009 287 4 jean-charles rochet & jean tirole PERSON cblr-3009 287 5 33 rand MONEY cblr-3009 287 6 j. econ PERSON cblr-3009 287 7 549 CARDINAL cblr-3009 287 8 552 CARDINAL cblr-3009 287 9 2002 DATE cblr-3009 287 10 richard schmalensee PERSON cblr-3009 287 11 50 CARDINAL cblr-3009 287 12 j. indus PERSON cblr-3009 289 1 103 CARDINAL cblr-3009 289 2 2002 DATE cblr-3009 290 1 42 CARDINAL cblr-3009 290 2 rochet & tirole ORG cblr-3009 290 3 41 CARDINAL cblr-3009 290 4 559 CARDINAL cblr-3009 292 1 columbia business law review ORG cblr-3009 294 1 two CARDINAL cblr-3009 295 1 1 CARDINAL cblr-3009 295 2 two CARDINAL cblr-3009 300 1 2. CARDINAL cblr-3009 300 2 baxter PERSON cblr-3009 301 1 baxter PERSON cblr-3009 303 1 552 CARDINAL cblr-3009 304 1 2005 DATE cblr-3009 305 1 baxter PERSON cblr-3009 306 1 3 CARDINAL cblr-3009 309 1 decades earlier DATE cblr-3009 310 1 4 CARDINAL cblr-3009 312 1 one CARDINAL cblr-3009 314 1 4 CARDINAL cblr-3009 314 2 w. carlton & PERSON cblr-3009 314 3 jeffrey m. perloff PERSON cblr-3009 314 4 437 CARDINAL cblr-3009 314 5 4th ORDINAL cblr-3009 314 6 2004 DATE cblr-3009 316 1 3:617 CARDINAL cblr-3009 316 2 columbia business la w ORG cblr-3009 316 3 monthly DATE cblr-3009 318 1 two CARDINAL cblr-3009 319 1 5 CARDINAL cblr-3009 321 1 45 CARDINAL cblr-3009 321 2 one CARDINAL cblr-3009 323 1 only 28.5% PERCENT cblr-3009 323 2 annual DATE cblr-3009 323 3 10,000 MONEY cblr-3009 323 4 95.8% PERCENT cblr-3009 323 5 above $100,000,46 MONEY cblr-3009 323 6 59% PERCENT cblr-3009 323 7 african-american NORP cblr-3009 323 8 2001 DATE cblr-3009 323 9 53% PERCENT cblr-3009 323 10 82% PERCENT cblr-3009 325 1 45 CARDINAL cblr-3009 325 2 stuart weiner & julian wright ORG cblr-3009 325 3 1 CARDINAL cblr-3009 325 4 fed ORG cblr-3009 327 1 bank of ORG cblr-3009 327 2 kansas city GPE cblr-3009 328 1 05-01, 2005 DATE cblr-3009 329 1 u.s. GPE cblr-3009 329 2 the united states GPE cblr-3009 329 3 2004-2005 DATE cblr-3009 330 1 24, 2005 DATE cblr-3009 330 2 2005 DATE cblr-3009 331 1 6 CARDINAL cblr-3009 331 2 american NORP cblr-3009 331 3 mastercard ORG cblr-3009 333 1 american express ORG cblr-3009 334 1 mastercard ORG cblr-3009 334 2 american NORP cblr-3009 335 1 mastercard ORG cblr-3009 336 1 mastercard ORG cblr-3009 336 2 american NORP cblr-3009 338 1 49 CARDINAL cblr-3009 338 2 the years 1992 through 2001 DATE cblr-3009 339 1 48 CARDINAL cblr-3009 339 2 rochet & tirole ORG cblr-3009 339 3 41 CARDINAL cblr-3009 339 4 563 CARDINAL cblr-3009 340 1 american NORP cblr-3009 341 1 9 CARDINAL cblr-3009 341 2 dennis w. carlton & PERSON cblr-3009 341 3 alan s. frankel PERSON cblr-3009 341 4 63 CARDINAL cblr-3009 341 5 643 CARDINAL cblr-3009 341 6 1995 DATE cblr-3009 341 7 dennis w. carlton & PERSON cblr-3009 341 8 alan s. frankel PERSON cblr-3009 341 9 63 CARDINAL cblr-3009 341 10 903 CARDINAL cblr-3009 341 11 1995 DATE cblr-3009 341 12 dennis w. carlton & PERSON cblr-3009 341 13 alan s. frankel PERSON cblr-3009 341 14 77 CARDINAL cblr-3009 342 1 st. GPE cblr-3009 342 2 louis rev PERSON cblr-3009 342 3 41 (1995 DATE cblr-3009 342 4 frankel PERSON cblr-3009 342 5 supra PERSON cblr-3009 342 6 34 CARDINAL cblr-3009 342 7 alan s. frankel PERSON cblr-3009 343 1 columbia business la w ORG cblr-3009 344 1 two CARDINAL cblr-3009 344 2 wright PERSON cblr-3009 344 3 fed ORG cblr-3009 346 1 bank of ORG cblr-3009 346 2 kansas city GPE cblr-3009 346 3 may 5, 2005 DATE cblr-3009 346 4 http://www.kansascityfed.org/frfs/psr/pdf/frankeldiscussantremarks ORG cblr-3009 346 5 alan s. frankel & allan l. shampine PERSON cblr-3009 346 6 l.j. ORG cblr-3009 348 1 0 CARDINAL cblr-3009 348 2 australia GPE cblr-3009 349 1 australia GPE cblr-3009 349 2 australia GPE cblr-3009 349 3 2 (2005 DATE cblr-3009 349 4 consultdocfeb2005/. ORG cblr-3009 350 1 2005 DATE