id	sid	tid	token	lemma	pos
cblr-1707	1	1	microsoft	microsoft	PROPN
cblr-1707	1	2	word	word	NOUN
cblr-1707	1	3	2_2018.3_ricks_final.docx	2_2018.3_ricks_final.docx	NUM
cblr-1707	1	4	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	1	5	money	money	NOUN
cblr-1707	1	6	as	as	SCONJ
cblr-1707	1	7	infrastructure	infrastructure	NOUN
cblr-1707	1	8	morgan	morgan	PROPN
cblr-1707	1	9	ricks	rick	VERB
cblr-1707	1	10	*	*	PROPN
cblr-1707	1	11	traditional	traditional	ADJ
cblr-1707	1	12	infrastructure	infrastructure	NOUN
cblr-1707	1	13	regulation	regulation	NOUN
cblr-1707	1	14	—	—	PUNCT
cblr-1707	1	15	the	the	DET
cblr-1707	1	16	law	law	NOUN
cblr-1707	1	17	of	of	ADP
cblr-1707	1	18	regulated	regulated	ADJ
cblr-1707	1	19	industries	industry	NOUN
cblr-1707	1	20	—	—	PUNCT
cblr-1707	1	21	rests	rest	VERB
cblr-1707	1	22	atop	atop	ADP
cblr-1707	1	23	three	three	NUM
cblr-1707	1	24	pillars	pillar	NOUN
cblr-1707	1	25	:	:	PUNCT
cblr-1707	1	26	rate	rate	NOUN
cblr-1707	1	27	regulation	regulation	NOUN
cblr-1707	1	28	,	,	PUNCT
cblr-1707	1	29	entry	entry	NOUN
cblr-1707	1	30	restriction	restriction	NOUN
cblr-1707	1	31	,	,	PUNCT
cblr-1707	1	32	and	and	CCONJ
cblr-1707	1	33	universal	universal	ADJ
cblr-1707	1	34	service	service	NOUN
cblr-1707	1	35	.	.	PUNCT
cblr-1707	2	1	this	this	DET
cblr-1707	2	2	mode	mode	NOUN
cblr-1707	2	3	of	of	ADP
cblr-1707	2	4	regulation	regulation	NOUN
cblr-1707	2	5	has	have	AUX
cblr-1707	2	6	typically	typically	ADV
cblr-1707	2	7	been	be	AUX
cblr-1707	2	8	applied	apply	VERB
cblr-1707	2	9	to	to	ADP
cblr-1707	2	10	providers	provider	NOUN
cblr-1707	2	11	of	of	ADP
cblr-1707	2	12	network	network	NOUN
cblr-1707	2	13	-	-	PUNCT
cblr-1707	2	14	type	type	NOUN
cblr-1707	2	15	resources	resource	NOUN
cblr-1707	2	16	:	:	PUNCT
cblr-1707	2	17	resources	resource	NOUN
cblr-1707	2	18	that	that	PRON
cblr-1707	2	19	are	be	AUX
cblr-1707	2	20	optimally	optimally	ADV
cblr-1707	2	21	supplied	supply	VERB
cblr-1707	2	22	as	as	ADP
cblr-1707	2	23	integrated	integrate	VERB
cblr-1707	2	24	systems	system	NOUN
cblr-1707	2	25	.	.	PUNCT
cblr-1707	3	1	the	the	DET
cblr-1707	3	2	monetary	monetary	ADJ
cblr-1707	3	3	system	system	NOUN
cblr-1707	3	4	is	be	AUX
cblr-1707	3	5	such	such	DET
cblr-1707	3	6	a	a	DET
cblr-1707	3	7	resource	resource	NOUN
cblr-1707	3	8	;	;	PUNCT
cblr-1707	3	9	and	and	CCONJ
cblr-1707	3	10	money	money	NOUN
cblr-1707	3	11	creation	creation	NOUN
cblr-1707	3	12	is	be	AUX
cblr-1707	3	13	the	the	DET
cblr-1707	3	14	distinctive	distinctive	ADJ
cblr-1707	3	15	function	function	NOUN
cblr-1707	3	16	of	of	ADP
cblr-1707	3	17	banks	bank	NOUN
cblr-1707	3	18	.	.	PUNCT
cblr-1707	4	1	bank	bank	NOUN
cblr-1707	4	2	regulation	regulation	NOUN
cblr-1707	4	3	can	can	AUX
cblr-1707	4	4	therefore	therefore	ADV
cblr-1707	4	5	be	be	AUX
cblr-1707	4	6	understood	understand	VERB
cblr-1707	4	7	as	as	ADP
cblr-1707	4	8	a	a	DET
cblr-1707	4	9	subfield	subfield	NOUN
cblr-1707	4	10	of	of	ADP
cblr-1707	4	11	infrastructure	infrastructure	NOUN
cblr-1707	4	12	regulation	regulation	NOUN
cblr-1707	4	13	.	.	PUNCT
cblr-1707	5	1	with	with	ADP
cblr-1707	5	2	few	few	ADJ
cblr-1707	5	3	exceptions	exception	NOUN
cblr-1707	5	4	,	,	PUNCT
cblr-1707	5	5	modern	modern	ADJ
cblr-1707	5	6	academic	academic	ADJ
cblr-1707	5	7	treatments	treatment	NOUN
cblr-1707	5	8	of	of	ADP
cblr-1707	5	9	banking	banking	NOUN
cblr-1707	5	10	have	have	AUX
cblr-1707	5	11	emphasized	emphasize	VERB
cblr-1707	5	12	banks	bank	NOUN
cblr-1707	5	13	’	’	PART
cblr-1707	5	14	intermediation	intermediation	NOUN
cblr-1707	5	15	function	function	NOUN
cblr-1707	5	16	and	and	CCONJ
cblr-1707	5	17	downplayed	downplay	VERB
cblr-1707	5	18	or	or	CCONJ
cblr-1707	5	19	ignored	ignore	VERB
cblr-1707	5	20	their	their	PRON
cblr-1707	5	21	monetary	monetary	ADJ
cblr-1707	5	22	function	function	NOUN
cblr-1707	5	23	.	.	PUNCT
cblr-1707	6	1	concomitantly	concomitantly	ADV
cblr-1707	6	2	,	,	PUNCT
cblr-1707	6	3	in	in	ADP
cblr-1707	6	4	recent	recent	ADJ
cblr-1707	6	5	decades	decade	NOUN
cblr-1707	6	6	u.s	u.s	PROPN
cblr-1707	6	7	.	.	PROPN
cblr-1707	6	8	bank	bank	PROPN
cblr-1707	6	9	regulation	regulation	NOUN
cblr-1707	6	10	has	have	AUX
cblr-1707	6	11	strayed	stray	VERB
cblr-1707	6	12	from	from	ADP
cblr-1707	6	13	its	its	PRON
cblr-1707	6	14	infrastructural	infrastructural	ADJ
cblr-1707	6	15	roots	root	NOUN
cblr-1707	6	16	.	.	PUNCT
cblr-1707	7	1	this	this	DET
cblr-1707	7	2	regulatory	regulatory	ADJ
cblr-1707	7	3	drift	drift	NOUN
cblr-1707	7	4	has	have	AUX
cblr-1707	7	5	been	be	AUX
cblr-1707	7	6	unwise	unwise	ADJ
cblr-1707	7	7	.	.	PUNCT
cblr-1707	8	1	i.	i.	PROPN
cblr-1707	8	2	introduction	introduction	NOUN
cblr-1707	8	3	................................................................	................................................................	PUNCT
cblr-1707	9	1	758	758	NUM
cblr-1707	9	2	ii	ii	NOUN
cblr-1707	9	3	.	.	PUNCT
cblr-1707	9	4	rate	rate	NOUN
cblr-1707	9	5	regulation	regulation	NOUN
cblr-1707	9	6	and	and	CCONJ
cblr-1707	9	7	the	the	DET
cblr-1707	9	8	transformation	transformation	NOUN
cblr-1707	9	9	of	of	ADP
cblr-1707	9	10	monetary	monetary	ADJ
cblr-1707	9	11	policy	policy	NOUN
cblr-1707	9	12	..........................................................	..........................................................	PUNCT
cblr-1707	9	13	772	772	NUM
cblr-1707	9	14	a.	a.	NOUN
cblr-1707	9	15	the	the	DET
cblr-1707	9	16	institutional	institutional	ADJ
cblr-1707	9	17	setting	setting	NOUN
cblr-1707	9	18	.....................................	.....................................	PUNCT
cblr-1707	9	19	773	773	NUM
cblr-1707	9	20	b.	b.	NOUN
cblr-1707	9	21	scarce	scarce	ADJ
cblr-1707	9	22	reserves	reserve	NOUN
cblr-1707	9	23	....................................................	....................................................	PUNCT
cblr-1707	10	1	779	779	NUM
cblr-1707	10	2	c.	c.	NOUN
cblr-1707	10	3	administered	administer	VERB
cblr-1707	10	4	rates	rate	NOUN
cblr-1707	10	5	..............................................	..............................................	PUNCT
cblr-1707	11	1	786	786	NUM
cblr-1707	11	2	d.	d.	NOUN
cblr-1707	11	3	an	an	DET
cblr-1707	11	4	infrastructure	infrastructure	NOUN
cblr-1707	11	5	perspective	perspective	NOUN
cblr-1707	11	6	.............................	.............................	PUNCT
cblr-1707	11	7	801	801	NUM
cblr-1707	11	8	iii	iii	NOUN
cblr-1707	11	9	.	.	PUNCT
cblr-1707	11	10	entry	entry	NOUN
cblr-1707	11	11	restriction	restriction	NOUN
cblr-1707	11	12	and	and	CCONJ
cblr-1707	11	13	the	the	DET
cblr-1707	11	14	optimal	optimal	ADJ
cblr-1707	11	15	number	number	NOUN
cblr-1707	11	16	of	of	ADP
cblr-1707	11	17	banks	bank	NOUN
cblr-1707	11	18	..........................................................................	..........................................................................	PUNCT
cblr-1707	11	19	808	808	NUM
cblr-1707	11	20	a.	a.	NOUN
cblr-1707	11	21	regulatory	regulatory	ADJ
cblr-1707	11	22	“	"	PUNCT
cblr-1707	11	23	arbitrage	arbitrage	NOUN
cblr-1707	11	24	”	"	PUNCT
cblr-1707	11	25	and	and	CCONJ
cblr-1707	11	26	the	the	DET
cblr-1707	11	27	money	money	NOUN
cblr-1707	11	28	substitute	substitute	NOUN
cblr-1707	11	29	problem	problem	NOUN
cblr-1707	11	30	...............................................	...............................................	PUNCT
cblr-1707	11	31	809	809	NUM
cblr-1707	11	32	*	*	PUNCT
cblr-1707	11	33	professor	professor	NOUN
cblr-1707	11	34	of	of	ADP
cblr-1707	11	35	law	law	NOUN
cblr-1707	11	36	,	,	PUNCT
cblr-1707	11	37	vanderbilt	vanderbilt	PROPN
cblr-1707	11	38	law	law	PROPN
cblr-1707	11	39	school	school	NOUN
cblr-1707	11	40	.	.	PUNCT
cblr-1707	12	1	for	for	ADP
cblr-1707	12	2	helpful	helpful	ADJ
cblr-1707	12	3	comments	comment	NOUN
cblr-1707	12	4	i	i	PRON
cblr-1707	12	5	thank	thank	VERB
cblr-1707	12	6	mehrsa	mehrsa	NOUN
cblr-1707	12	7	baradaran	baradaran	PROPN
cblr-1707	12	8	,	,	PUNCT
cblr-1707	12	9	john	john	PROPN
cblr-1707	12	10	crawford	crawford	PROPN
cblr-1707	12	11	,	,	PUNCT
cblr-1707	12	12	amias	amias	PROPN
cblr-1707	12	13	gerety	gerety	PROPN
cblr-1707	12	14	,	,	PUNCT
cblr-1707	12	15	sam	sam	PROPN
cblr-1707	12	16	hanson	hanson	PROPN
cblr-1707	12	17	,	,	PUNCT
cblr-1707	12	18	dick	dick	PROPN
cblr-1707	12	19	herring	herring	PROPN
cblr-1707	12	20	,	,	PUNCT
cblr-1707	12	21	kate	kate	PROPN
cblr-1707	12	22	judge	judge	PROPN
cblr-1707	12	23	,	,	PUNCT
cblr-1707	12	24	ganesh	ganesh	PROPN
cblr-1707	12	25	sitaraman	sitaraman	NOUN
cblr-1707	12	26	,	,	PUNCT
cblr-1707	12	27	jeremy	jeremy	PROPN
cblr-1707	12	28	stein	stein	PROPN
cblr-1707	12	29	,	,	PUNCT
cblr-1707	12	30	rory	rory	PROPN
cblr-1707	12	31	van	van	PROPN
cblr-1707	12	32	loo	loo	PROPN
cblr-1707	12	33	,	,	PUNCT
cblr-1707	12	34	yesha	yesha	PROPN
cblr-1707	12	35	yadav	yadav	PROPN
cblr-1707	12	36	,	,	PUNCT
cblr-1707	12	37	luigi	luigi	PROPN
cblr-1707	12	38	zingales	zingales	PROPN
cblr-1707	12	39	,	,	PUNCT
cblr-1707	12	40	and	and	CCONJ
cblr-1707	12	41	participants	participant	NOUN
cblr-1707	12	42	at	at	ADP
cblr-1707	12	43	the	the	DET
cblr-1707	12	44	vanderbilt	vanderbilt	PROPN
cblr-1707	12	45	university	university	PROPN
cblr-1707	12	46	–	–	PUNCT
cblr-1707	12	47	ghent	ghent	PROPN
cblr-1707	12	48	university	university	NOUN
cblr-1707	12	49	symposium	symposium	NOUN
cblr-1707	12	50	on	on	ADP
cblr-1707	12	51	corporate	corporate	ADJ
cblr-1707	12	52	law	law	NOUN
cblr-1707	12	53	and	and	CCONJ
cblr-1707	12	54	financial	financial	ADJ
cblr-1707	12	55	regulation	regulation	NOUN
cblr-1707	12	56	,	,	PUNCT
cblr-1707	12	57	the	the	DET
cblr-1707	12	58	indira	indira	PROPN
cblr-1707	12	59	gandhi	gandhi	PROPN
cblr-1707	12	60	institute	institute	PROPN
cblr-1707	12	61	of	of	ADP
cblr-1707	12	62	development	development	PROPN
cblr-1707	12	63	research	research	PROPN
cblr-1707	12	64	’s	’s	PART
cblr-1707	12	65	8th	8th	ADJ
cblr-1707	12	66	annual	annual	ADJ
cblr-1707	12	67	emerging	emerge	VERB
cblr-1707	12	68	markets	market	NOUN
cblr-1707	12	69	finance	finance	NOUN
cblr-1707	12	70	conference	conference	NOUN
cblr-1707	12	71	,	,	PUNCT
cblr-1707	12	72	the	the	DET
cblr-1707	12	73	2018	2018	NUM
cblr-1707	12	74	wharton	wharton	PROPN
cblr-1707	12	75	conference	conference	NOUN
cblr-1707	12	76	on	on	ADP
cblr-1707	12	77	financial	financial	ADJ
cblr-1707	12	78	regulation	regulation	NOUN
cblr-1707	12	79	,	,	PUNCT
cblr-1707	12	80	and	and	CCONJ
cblr-1707	12	81	the	the	DET
cblr-1707	12	82	2018	2018	NUM
cblr-1707	12	83	eth	eth	NOUN
cblr-1707	12	84	/	/	SYM
cblr-1707	12	85	nyu	nyu	PROPN
cblr-1707	12	86	/	/	SYM
cblr-1707	12	87	safe	safe	ADJ
cblr-1707	12	88	law	law	NOUN
cblr-1707	12	89	&	&	CCONJ
cblr-1707	12	90	banking	banking	NOUN
cblr-1707	12	91	/	/	SYM
cblr-1707	12	92	finance	finance	NOUN
cblr-1707	12	93	conference	conference	NOUN
cblr-1707	12	94	.	.	PUNCT
cblr-1707	13	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	13	2	758	758	NUM
cblr-1707	13	3	columbia	columbia	PROPN
cblr-1707	13	4	business	business	NOUN
cblr-1707	13	5	law	law	NOUN
cblr-1707	13	6	review	review	NOUN
cblr-1707	13	7	[	[	X
cblr-1707	13	8	vol	vol	NOUN
cblr-1707	13	9	.	.	PUNCT
cblr-1707	13	10	2018	2018	NUM
cblr-1707	13	11	b.	b.	X
cblr-1707	13	12	the	the	DET
cblr-1707	13	13	bipolar	bipolar	ADJ
cblr-1707	13	14	history	history	NOUN
cblr-1707	13	15	of	of	ADP
cblr-1707	13	16	u.s	u.s	PROPN
cblr-1707	13	17	.	.	PROPN
cblr-1707	13	18	bank	bank	NOUN
cblr-1707	13	19	chartering	chartering	NOUN
cblr-1707	13	20	standards	standard	NOUN
cblr-1707	13	21	..............................................................	..............................................................	PUNCT
cblr-1707	13	22	816	816	NUM
cblr-1707	13	23	c.	c.	NOUN
cblr-1707	13	24	an	an	DET
cblr-1707	13	25	infrastructure	infrastructure	NOUN
cblr-1707	13	26	perspective	perspective	NOUN
cblr-1707	13	27	.............................	.............................	PUNCT
cblr-1707	14	1	821	821	NUM
cblr-1707	14	2	iv	iv	NOUN
cblr-1707	14	3	.	.	PUNCT
cblr-1707	14	4	universal	universal	ADJ
cblr-1707	14	5	service	service	NOUN
cblr-1707	14	6	and	and	CCONJ
cblr-1707	14	7	the	the	DET
cblr-1707	14	8	unand	unand	NOUN
cblr-1707	14	9	under	under	ADV
cblr-1707	14	10	-	-	PUNCT
cblr-1707	14	11	banked	bank	VERB
cblr-1707	14	12	..	..	PUNCT
cblr-1707	14	13	828	828	NUM
cblr-1707	14	14	a.	a.	NOUN
cblr-1707	14	15	access	access	NOUN
cblr-1707	14	16	to	to	ADP
cblr-1707	14	17	the	the	DET
cblr-1707	14	18	mainstream	mainstream	NOUN
cblr-1707	14	19	payment	payment	NOUN
cblr-1707	14	20	system	system	NOUN
cblr-1707	14	21	.......	.......	PUNCT
cblr-1707	14	22	828	828	NUM
cblr-1707	14	23	b.	b.	PROPN
cblr-1707	14	24	bypassing	bypassing	PROPN
cblr-1707	14	25	bank	bank	NOUN
cblr-1707	14	26	-	-	PUNCT
cblr-1707	14	27	based	base	VERB
cblr-1707	14	28	payments	payment	NOUN
cblr-1707	14	29	?	?	PUNCT
cblr-1707	15	1	.....................	.....................	PUNCT
cblr-1707	16	1	833	833	NUM
cblr-1707	16	2	c.	c.	NOUN
cblr-1707	16	3	an	an	DET
cblr-1707	16	4	infrastructure	infrastructure	NOUN
cblr-1707	16	5	perspective	perspective	NOUN
cblr-1707	16	6	.............................	.............................	PUNCT
cblr-1707	16	7	836	836	NUM
cblr-1707	16	8	v.	v.	ADP
cblr-1707	16	9	conclusion	conclusion	NOUN
cblr-1707	16	10	..................................................................	..................................................................	PUNCT
cblr-1707	16	11	851	851	NUM
cblr-1707	16	12	i.	i.	NOUN
cblr-1707	16	13	introduction	introduction	NOUN
cblr-1707	16	14	two	two	NUM
cblr-1707	16	15	competing	compete	VERB
cblr-1707	16	16	paradigms	paradigm	NOUN
cblr-1707	16	17	have	have	AUX
cblr-1707	16	18	long	long	ADV
cblr-1707	16	19	dominated	dominate	VERB
cblr-1707	16	20	understandings	understanding	NOUN
cblr-1707	16	21	of	of	ADP
cblr-1707	16	22	banking	banking	NOUN
cblr-1707	16	23	and	and	CCONJ
cblr-1707	16	24	its	its	PRON
cblr-1707	16	25	regulation	regulation	NOUN
cblr-1707	16	26	.	.	PUNCT
cblr-1707	17	1	one	one	NUM
cblr-1707	17	2	paradigm	paradigm	NOUN
cblr-1707	17	3	sees	see	VERB
cblr-1707	17	4	banking	banking	NOUN
cblr-1707	17	5	first	first	ADV
cblr-1707	17	6	and	and	CCONJ
cblr-1707	17	7	foremost	foremost	ADV
cblr-1707	17	8	as	as	ADP
cblr-1707	17	9	a	a	DET
cblr-1707	17	10	species	species	NOUN
cblr-1707	17	11	of	of	ADP
cblr-1707	17	12	financial	financial	ADJ
cblr-1707	17	13	intermediation	intermediation	NOUN
cblr-1707	17	14	.	.	PUNCT
cblr-1707	18	1	under	under	ADP
cblr-1707	18	2	this	this	DET
cblr-1707	18	3	intermediation	intermediation	NOUN
cblr-1707	18	4	paradigm	paradigm	NOUN
cblr-1707	18	5	—	—	PUNCT
cblr-1707	18	6	which	which	PRON
cblr-1707	18	7	has	have	AUX
cblr-1707	18	8	reigned	reign	VERB
cblr-1707	18	9	supreme	supreme	ADV
cblr-1707	18	10	for	for	ADP
cblr-1707	18	11	decades	decade	NOUN
cblr-1707	18	12	—	—	PUNCT
cblr-1707	18	13	banks	bank	NOUN
cblr-1707	18	14	are	be	AUX
cblr-1707	18	15	understood	understand	VERB
cblr-1707	18	16	to	to	PART
cblr-1707	18	17	be	be	AUX
cblr-1707	18	18	primarily	primarily	ADV
cblr-1707	18	19	in	in	ADP
cblr-1707	18	20	the	the	DET
cblr-1707	18	21	business	business	NOUN
cblr-1707	18	22	of	of	ADP
cblr-1707	18	23	“	"	PUNCT
cblr-1707	18	24	taking	take	VERB
cblr-1707	18	25	funds	fund	NOUN
cblr-1707	18	26	”	"	PUNCT
cblr-1707	18	27	from	from	ADP
cblr-1707	18	28	depositors	depositor	NOUN
cblr-1707	18	29	and	and	CCONJ
cblr-1707	18	30	then	then	ADV
cblr-1707	18	31	“	"	PUNCT
cblr-1707	18	32	lending	lend	VERB
cblr-1707	18	33	them	they	PRON
cblr-1707	18	34	out	out	ADP
cblr-1707	18	35	.	.	PUNCT
cblr-1707	18	36	”	"	PUNCT
cblr-1707	19	1	banks	bank	NOUN
cblr-1707	19	2	thereby	thereby	ADV
cblr-1707	19	3	connect	connect	VERB
cblr-1707	19	4	savers	saver	NOUN
cblr-1707	19	5	and	and	CCONJ
cblr-1707	19	6	borrowers.1	borrowers.1	ADP
cblr-1707	19	7	“	"	PUNCT
cblr-1707	19	8	‘	'	PUNCT
cblr-1707	19	9	[	[	X
cblr-1707	19	10	b]anking	b]anke	VERB
cblr-1707	19	11	’	'	PUNCT
cblr-1707	19	12	[	[	X
cblr-1707	19	13	has	has	AUX
cblr-1707	19	14	]	]	PUNCT
cblr-1707	19	15	become	become	VERB
cblr-1707	19	16	virtually	virtually	ADV
cblr-1707	19	17	synonymous	synonymous	ADJ
cblr-1707	19	18	with	with	ADP
cblr-1707	19	19	financial	financial	ADJ
cblr-1707	19	20	intermediation	intermediation	NOUN
cblr-1707	19	21	,	,	PUNCT
cblr-1707	19	22	”	"	PUNCT
cblr-1707	19	23	writes	write	VERB
cblr-1707	19	24	richard	richard	NOUN
cblr-1707	19	25	posner	posner	PROPN
cblr-1707	19	26	,	,	PUNCT
cblr-1707	19	27	in	in	ADP
cblr-1707	19	28	a	a	DET
cblr-1707	19	29	typical	typical	ADJ
cblr-1707	19	30	example	example	NOUN
cblr-1707	19	31	from	from	ADP
cblr-1707	19	32	this	this	DET
cblr-1707	19	33	vein.2	vein.2	PROPN
cblr-1707	19	34	“	"	PUNCT
cblr-1707	19	35	i	i	PROPN
cblr-1707	19	36	.	.	PUNCT
cblr-1707	19	37	.	.	PUNCT
cblr-1707	19	38	.	.	PUNCT
cblr-1707	20	1	use	use	VERB
cblr-1707	20	2	the	the	DET
cblr-1707	20	3	words	word	NOUN
cblr-1707	20	4	‘	'	PUNCT
cblr-1707	20	5	bank	bank	NOUN
cblr-1707	20	6	’	'	PUNCT
cblr-1707	20	7	and	and	CCONJ
cblr-1707	20	8	‘	'	PUNCT
cblr-1707	20	9	banking	banking	NOUN
cblr-1707	20	10	’	'	PUNCT
cblr-1707	20	11	broadly	broadly	ADV
cblr-1707	20	12	,	,	PUNCT
cblr-1707	20	13	to	to	PART
cblr-1707	20	14	encompass	encompass	VERB
cblr-1707	20	15	all	all	DET
cblr-1707	20	16	financial	financial	ADJ
cblr-1707	20	17	intermediaries[.]”3	intermediaries[.]”3	PROPN
cblr-1707	20	18	the	the	DET
cblr-1707	20	19	other	other	ADJ
cblr-1707	20	20	paradigm	paradigm	NOUN
cblr-1707	20	21	can	can	AUX
cblr-1707	20	22	be	be	AUX
cblr-1707	20	23	called	call	VERB
cblr-1707	20	24	the	the	DET
cblr-1707	20	25	money	money	NOUN
cblr-1707	20	26	paradigm	paradigm	NOUN
cblr-1707	20	27	.	.	PUNCT
cblr-1707	21	1	it	it	PRON
cblr-1707	21	2	views	view	VERB
cblr-1707	21	3	banks	bank	NOUN
cblr-1707	21	4	as	as	ADP
cblr-1707	21	5	distinctly	distinctly	ADV
cblr-1707	21	6	monetary	monetary	ADJ
cblr-1707	21	7	institutions	institution	NOUN
cblr-1707	21	8	.	.	PUNCT
cblr-1707	22	1	this	this	PRON
cblr-1707	22	2	means	mean	VERB
cblr-1707	22	3	something	something	PRON
cblr-1707	22	4	more	more	ADJ
cblr-1707	22	5	than	than	ADP
cblr-1707	22	6	offering	offer	VERB
cblr-1707	22	7	payment	payment	NOUN
cblr-1707	22	8	services	service	NOUN
cblr-1707	22	9	,	,	PUNCT
cblr-1707	22	10	though	though	SCONJ
cblr-1707	22	11	that	that	PRON
cblr-1707	22	12	is	be	AUX
cblr-1707	22	13	certainly	certainly	ADV
cblr-1707	22	14	part	part	NOUN
cblr-1707	22	15	of	of	ADP
cblr-1707	22	16	it.4	it.4	PROPN
cblr-1707	22	17	the	the	DET
cblr-1707	22	18	money	money	NOUN
cblr-1707	22	19	paradigm	paradigm	NOUN
cblr-1707	22	20	recognizes	recognize	VERB
cblr-1707	22	21	that	that	SCONJ
cblr-1707	22	22	claims	claim	NOUN
cblr-1707	22	23	on	on	ADP
cblr-1707	22	24	banks	bank	NOUN
cblr-1707	22	25	are	be	AUX
cblr-1707	22	26	,	,	PUNCT
cblr-1707	22	27	in	in	ADP
cblr-1707	22	28	a	a	DET
cblr-1707	22	29	real	real	ADJ
cblr-1707	22	30	sense	sense	NOUN
cblr-1707	22	31	,	,	PUNCT
cblr-1707	22	32	money	money	NOUN
cblr-1707	22	33	,	,	PUNCT
cblr-1707	22	34	and	and	CCONJ
cblr-1707	23	1	that	that	SCONJ
cblr-1707	23	2	banks	bank	NOUN
cblr-1707	23	3	1	1	NUM
cblr-1707	23	4	for	for	ADP
cblr-1707	23	5	a	a	DET
cblr-1707	23	6	recent	recent	ADJ
cblr-1707	23	7	,	,	PUNCT
cblr-1707	23	8	broad	broad	ADJ
cblr-1707	23	9	critique	critique	NOUN
cblr-1707	23	10	of	of	ADP
cblr-1707	23	11	this	this	DET
cblr-1707	23	12	paradigm	paradigm	NOUN
cblr-1707	23	13	,	,	PUNCT
cblr-1707	23	14	see	see	VERB
cblr-1707	23	15	robert	robert	PROPN
cblr-1707	23	16	c.	c.	PROPN
cblr-1707	23	17	hockett	hockett	PROPN
cblr-1707	23	18	&	&	CCONJ
cblr-1707	23	19	saule	saule	PROPN
cblr-1707	23	20	t.	t.	PROPN
cblr-1707	23	21	omarova	omarova	PROPN
cblr-1707	23	22	,	,	PUNCT
cblr-1707	23	23	the	the	DET
cblr-1707	23	24	finance	finance	NOUN
cblr-1707	23	25	franchise	franchise	NOUN
cblr-1707	23	26	,	,	PUNCT
cblr-1707	23	27	102	102	NUM
cblr-1707	23	28	cornell	cornell	PROPN
cblr-1707	23	29	l.	l.	PROPN
cblr-1707	23	30	rev	rev	PROPN
cblr-1707	23	31	.	.	PROPN
cblr-1707	23	32	1143	1143	NUM
cblr-1707	23	33	,	,	PUNCT
cblr-1707	23	34	1144–67	1144–67	NUM
cblr-1707	23	35	(	(	PUNCT
cblr-1707	23	36	2017	2017	NUM
cblr-1707	23	37	)	)	PUNCT
cblr-1707	23	38	.	.	PUNCT
cblr-1707	24	1	2	2	NUM
cblr-1707	24	2	richard	richard	NOUN
cblr-1707	24	3	a.	a.	NOUN
cblr-1707	24	4	posner	posner	NOUN
cblr-1707	24	5	,	,	PUNCT
cblr-1707	24	6	a	a	DET
cblr-1707	24	7	failure	failure	NOUN
cblr-1707	24	8	of	of	ADP
cblr-1707	24	9	capitalism	capitalism	NOUN
cblr-1707	24	10	:	:	PUNCT
cblr-1707	24	11	the	the	DET
cblr-1707	24	12	crisis	crisis	NOUN
cblr-1707	24	13	of	of	ADP
cblr-1707	24	14	‘	'	PUNCT
cblr-1707	24	15	08	08	NUM
cblr-1707	24	16	and	and	CCONJ
cblr-1707	24	17	the	the	DET
cblr-1707	24	18	descent	descent	NOUN
cblr-1707	24	19	into	into	ADP
cblr-1707	24	20	depression	depression	NOUN
cblr-1707	24	21	46	46	NUM
cblr-1707	24	22	(	(	PUNCT
cblr-1707	24	23	2009	2009	NUM
cblr-1707	24	24	)	)	PUNCT
cblr-1707	24	25	.	.	PUNCT
cblr-1707	25	1	3	3	NUM
cblr-1707	26	1	i	i	PRON
cblr-1707	26	2	d.	d.	VERB
cblr-1707	26	3	at	at	ADP
cblr-1707	26	4	xvi	xvi	NOUN
cblr-1707	26	5	.	.	PUNCT
cblr-1707	27	1	4	4	NUM
cblr-1707	27	2	hence	hence	ADV
cblr-1707	27	3	defining	define	VERB
cblr-1707	27	4	banks	bank	NOUN
cblr-1707	27	5	as	as	ADP
cblr-1707	27	6	“	"	PUNCT
cblr-1707	27	7	financial	financial	ADJ
cblr-1707	27	8	intermediaries	intermediary	NOUN
cblr-1707	27	9	that	that	PRON
cblr-1707	27	10	offer	offer	VERB
cblr-1707	27	11	payment	payment	NOUN
cblr-1707	27	12	services	service	NOUN
cblr-1707	27	13	”	"	PUNCT
cblr-1707	27	14	does	do	AUX
cblr-1707	27	15	n’t	not	PART
cblr-1707	27	16	quite	quite	ADV
cblr-1707	27	17	capture	capture	VERB
cblr-1707	27	18	it	it	PRON
cblr-1707	27	19	.	.	PUNCT
cblr-1707	28	1	see	see	VERB
cblr-1707	28	2	richard	richard	PROPN
cblr-1707	28	3	scott	scott	PROPN
cblr-1707	28	4	carnell	carnell	PROPN
cblr-1707	28	5	,	,	PUNCT
cblr-1707	28	6	jonathan	jonathan	PROPN
cblr-1707	28	7	r.	r.	PROPN
cblr-1707	28	8	macey	macey	PROPN
cblr-1707	28	9	&	&	CCONJ
cblr-1707	28	10	geoffrey	geoffrey	PROPN
cblr-1707	28	11	p.	p.	PROPN
cblr-1707	28	12	miller	miller	PROPN
cblr-1707	28	13	,	,	PUNCT
cblr-1707	28	14	the	the	DET
cblr-1707	28	15	law	law	NOUN
cblr-1707	28	16	of	of	ADP
cblr-1707	28	17	financial	financial	ADJ
cblr-1707	28	18	institutions	institution	NOUN
cblr-1707	28	19	65	65	NUM
cblr-1707	28	20	(	(	PUNCT
cblr-1707	28	21	6th	6th	ADJ
cblr-1707	28	22	ed	ed	NOUN
cblr-1707	28	23	.	.	PROPN
cblr-1707	28	24	2017	2017	NUM
cblr-1707	28	25	)	)	PUNCT
cblr-1707	29	1	(	(	PUNCT
cblr-1707	29	2	emphasis	emphasis	NOUN
cblr-1707	29	3	omitted	omit	VERB
cblr-1707	29	4	)	)	PUNCT
cblr-1707	29	5	.	.	PUNCT
cblr-1707	30	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	30	2	no	no	NOUN
cblr-1707	30	3	.	.	PUNCT
cblr-1707	31	1	3:757	3:757	NUM
cblr-1707	31	2	]	]	X
cblr-1707	31	3	money	money	NOUN
cblr-1707	31	4	as	as	SCONJ
cblr-1707	31	5	infrastructure	infrastructure	NOUN
cblr-1707	31	6	759	759	NUM
cblr-1707	31	7	thus	thus	ADV
cblr-1707	31	8	augment	augment	VERB
cblr-1707	31	9	the	the	DET
cblr-1707	31	10	money	money	NOUN
cblr-1707	31	11	supply	supply	NOUN
cblr-1707	31	12	.	.	PUNCT
cblr-1707	32	1	rather	rather	ADV
cblr-1707	32	2	than	than	ADP
cblr-1707	32	3	seeing	see	VERB
cblr-1707	32	4	banks	bank	NOUN
cblr-1707	32	5	as	as	ADP
cblr-1707	32	6	taking	take	VERB
cblr-1707	32	7	funds	fund	NOUN
cblr-1707	32	8	that	that	PRON
cblr-1707	32	9	are	be	AUX
cblr-1707	32	10	then	then	ADV
cblr-1707	32	11	lent	lend	VERB
cblr-1707	32	12	out	out	ADP
cblr-1707	32	13	,	,	PUNCT
cblr-1707	32	14	the	the	DET
cblr-1707	32	15	money	money	NOUN
cblr-1707	32	16	paradigm	paradigm	NOUN
cblr-1707	32	17	sees	see	VERB
cblr-1707	32	18	banks	bank	NOUN
cblr-1707	32	19	primarily	primarily	ADV
cblr-1707	32	20	as	as	ADP
cblr-1707	32	21	issuers	issuer	NOUN
cblr-1707	32	22	of	of	ADP
cblr-1707	32	23	“	"	PUNCT
cblr-1707	32	24	funds	fund	NOUN
cblr-1707	32	25	.	.	PUNCT
cblr-1707	33	1	”5	”5	PUNCT
cblr-1707	33	2	(	(	PUNCT
cblr-1707	33	3	needless	needless	ADJ
cblr-1707	33	4	to	to	PART
cblr-1707	33	5	say	say	VERB
cblr-1707	33	6	,	,	PUNCT
cblr-1707	33	7	taking	take	VERB
cblr-1707	33	8	and	and	CCONJ
cblr-1707	33	9	issuing	issuing	NOUN
cblr-1707	33	10	are	be	AUX
cblr-1707	33	11	opposites	opposite	NOUN
cblr-1707	33	12	.	.	PUNCT
cblr-1707	33	13	)	)	PUNCT
cblr-1707	34	1	on	on	ADP
cblr-1707	34	2	this	this	DET
cblr-1707	34	3	view	view	NOUN
cblr-1707	34	4	,	,	PUNCT
cblr-1707	34	5	banks	bank	NOUN
cblr-1707	34	6	are	be	AUX
cblr-1707	34	7	an	an	DET
cblr-1707	34	8	integral	integral	ADJ
cblr-1707	34	9	part	part	NOUN
cblr-1707	34	10	of	of	ADP
cblr-1707	34	11	the	the	DET
cblr-1707	34	12	overall	overall	ADJ
cblr-1707	34	13	monetary	monetary	ADJ
cblr-1707	34	14	framework	framework	NOUN
cblr-1707	34	15	,	,	PUNCT
cblr-1707	34	16	a	a	DET
cblr-1707	34	17	status	status	NOUN
cblr-1707	34	18	that	that	PRON
cblr-1707	34	19	justifies	justify	VERB
cblr-1707	34	20	a	a	DET
cblr-1707	34	21	unique	unique	ADJ
cblr-1707	34	22	relationship	relationship	NOUN
cblr-1707	34	23	with	with	ADP
cblr-1707	34	24	the	the	DET
cblr-1707	34	25	state	state	NOUN
cblr-1707	34	26	.	.	PUNCT
cblr-1707	35	1	the	the	DET
cblr-1707	35	2	two	two	NUM
cblr-1707	35	3	paradigms	paradigm	NOUN
cblr-1707	35	4	are	be	AUX
cblr-1707	35	5	not	not	PART
cblr-1707	35	6	strictly	strictly	ADV
cblr-1707	35	7	incompatible	incompatible	ADJ
cblr-1707	35	8	;	;	PUNCT
cblr-1707	35	9	most	most	ADJ
cblr-1707	35	10	banking	banking	NOUN
cblr-1707	35	11	experts	expert	NOUN
cblr-1707	35	12	would	would	AUX
cblr-1707	35	13	probably	probably	ADV
cblr-1707	35	14	find	find	VERB
cblr-1707	35	15	truth	truth	NOUN
cblr-1707	35	16	in	in	ADP
cblr-1707	35	17	both	both	PRON
cblr-1707	35	18	of	of	ADP
cblr-1707	35	19	them.6	them.6	PROPN
cblr-1707	35	20	but	but	CCONJ
cblr-1707	35	21	they	they	PRON
cblr-1707	35	22	coexist	coexist	VERB
cblr-1707	35	23	in	in	ADP
cblr-1707	35	24	uneasy	uneasy	ADJ
cblr-1707	35	25	tension	tension	NOUN
cblr-1707	35	26	.	.	PUNCT
cblr-1707	36	1	while	while	SCONJ
cblr-1707	36	2	the	the	DET
cblr-1707	36	3	intermediation	intermediation	NOUN
cblr-1707	36	4	paradigm	paradigm	NOUN
cblr-1707	36	5	emphasizes	emphasize	VERB
cblr-1707	36	6	the	the	DET
cblr-1707	36	7	similarities	similarity	NOUN
cblr-1707	36	8	between	between	ADP
cblr-1707	36	9	banks	bank	NOUN
cblr-1707	36	10	and	and	CCONJ
cblr-1707	36	11	other	other	ADJ
cblr-1707	36	12	financial	financial	ADJ
cblr-1707	36	13	institutions	institution	NOUN
cblr-1707	36	14	,	,	PUNCT
cblr-1707	36	15	the	the	DET
cblr-1707	36	16	money	money	NOUN
cblr-1707	36	17	paradigm	paradigm	NOUN
cblr-1707	36	18	stresses	stress	VERB
cblr-1707	36	19	their	their	PRON
cblr-1707	36	20	differences	difference	NOUN
cblr-1707	36	21	.	.	PUNCT
cblr-1707	37	1	while	while	SCONJ
cblr-1707	37	2	the	the	DET
cblr-1707	37	3	intermediation	intermediation	NOUN
cblr-1707	37	4	paradigm	paradigm	NOUN
cblr-1707	37	5	tends	tend	VERB
cblr-1707	37	6	to	to	PART
cblr-1707	37	7	focus	focus	VERB
cblr-1707	37	8	more	more	ADV
cblr-1707	37	9	on	on	ADP
cblr-1707	37	10	the	the	DET
cblr-1707	37	11	left	left	ADJ
cblr-1707	37	12	side	side	NOUN
cblr-1707	37	13	of	of	ADP
cblr-1707	37	14	banks	bank	NOUN
cblr-1707	37	15	’	'	PUNCT
cblr-1707	37	16	balance	balance	NOUN
cblr-1707	37	17	sheets	sheet	NOUN
cblr-1707	37	18	(	(	PUNCT
cblr-1707	37	19	i.e.	i.e.	X
cblr-1707	37	20	,	,	PUNCT
cblr-1707	37	21	their	their	PRON
cblr-1707	37	22	5	5	NUM
cblr-1707	37	23	this	this	DET
cblr-1707	37	24	point	point	NOUN
cblr-1707	37	25	is	be	AUX
cblr-1707	37	26	sometimes	sometimes	ADV
cblr-1707	37	27	conveyed	convey	VERB
cblr-1707	37	28	by	by	ADP
cblr-1707	37	29	“	"	PUNCT
cblr-1707	37	30	loans	loan	NOUN
cblr-1707	37	31	create	create	VERB
cblr-1707	37	32	deposits	deposit	NOUN
cblr-1707	37	33	”	"	PUNCT
cblr-1707	37	34	and	and	CCONJ
cblr-1707	37	35	similar	similar	ADJ
cblr-1707	37	36	expressions	expression	NOUN
cblr-1707	37	37	.	.	PUNCT
cblr-1707	38	1	see	see	VERB
cblr-1707	38	2	,	,	PUNCT
cblr-1707	38	3	e.g.	e.g.	ADV
cblr-1707	38	4	,	,	PUNCT
cblr-1707	38	5	irving	irving	PROPN
cblr-1707	38	6	fisher	fisher	PROPN
cblr-1707	38	7	,	,	PUNCT
cblr-1707	38	8	the	the	DET
cblr-1707	38	9	purchasing	purchase	VERB
cblr-1707	38	10	power	power	NOUN
cblr-1707	38	11	of	of	ADP
cblr-1707	38	12	money	money	NOUN
cblr-1707	38	13	39	39	NUM
cblr-1707	38	14	(	(	PUNCT
cblr-1707	38	15	rev	rev	PROPN
cblr-1707	38	16	.	.	PROPN
cblr-1707	39	1	ed	ed	NOUN
cblr-1707	39	2	.	.	PROPN
cblr-1707	39	3	1920	1920	NUM
cblr-1707	39	4	)	)	PUNCT
cblr-1707	39	5	(	(	PUNCT
cblr-1707	39	6	“	"	PUNCT
cblr-1707	39	7	a	a	DET
cblr-1707	39	8	bank	bank	NOUN
cblr-1707	39	9	depositor	depositor	NOUN
cblr-1707	39	10	.	.	PUNCT
cblr-1707	39	11	.	.	PUNCT
cblr-1707	40	1	.	.	PUNCT
cblr-1707	41	1	has	have	AUX
cblr-1707	41	2	not	not	PART
cblr-1707	41	3	ordinarily	ordinarily	ADV
cblr-1707	41	4	‘	'	PUNCT
cblr-1707	41	5	deposited	deposit	VERB
cblr-1707	41	6	money	money	NOUN
cblr-1707	41	7	’	'	PUNCT
cblr-1707	41	8	[	[	X
cblr-1707	41	9	.	.	X
cblr-1707	41	10	]	]	X
cblr-1707	41	11	”	"	PUNCT
cblr-1707	41	12	)	)	PUNCT
cblr-1707	41	13	;	;	PUNCT
cblr-1707	41	14	john	john	PROPN
cblr-1707	41	15	maynard	maynard	PROPN
cblr-1707	41	16	keynes	keynes	PROPN
cblr-1707	41	17	,	,	PUNCT
cblr-1707	41	18	the	the	DET
cblr-1707	41	19	pure	pure	ADJ
cblr-1707	41	20	theory	theory	NOUN
cblr-1707	41	21	of	of	ADP
cblr-1707	41	22	money	money	NOUN
cblr-1707	41	23	25	25	NUM
cblr-1707	41	24	(	(	PUNCT
cblr-1707	41	25	1930	1930	NUM
cblr-1707	41	26	)	)	PUNCT
cblr-1707	41	27	(	(	PUNCT
cblr-1707	41	28	“	"	PUNCT
cblr-1707	41	29	practical	practical	ADJ
cblr-1707	41	30	bankers	banker	NOUN
cblr-1707	41	31	.	.	PUNCT
cblr-1707	41	32	.	.	PUNCT
cblr-1707	41	33	.	.	PUNCT
cblr-1707	42	1	have	have	AUX
cblr-1707	42	2	[	[	AUX
cblr-1707	42	3	concluded	conclude	VERB
cblr-1707	42	4	]	]	PUNCT
cblr-1707	42	5	.	.	PUNCT
cblr-1707	42	6	.	.	PUNCT
cblr-1707	42	7	.	.	PUNCT
cblr-1707	43	1	that	that	SCONJ
cblr-1707	43	2	the	the	DET
cblr-1707	43	3	banks	bank	NOUN
cblr-1707	43	4	can	can	AUX
cblr-1707	43	5	lend	lend	VERB
cblr-1707	43	6	no	no	DET
cblr-1707	43	7	more	more	ADJ
cblr-1707	43	8	than	than	SCONJ
cblr-1707	43	9	their	their	PRON
cblr-1707	43	10	depositors	depositor	NOUN
cblr-1707	43	11	have	have	AUX
cblr-1707	43	12	previously	previously	ADV
cblr-1707	43	13	entrusted	entrust	VERB
cblr-1707	43	14	to	to	ADP
cblr-1707	43	15	them	they	PRON
cblr-1707	43	16	.	.	PUNCT
cblr-1707	44	1	but	but	CCONJ
cblr-1707	44	2	economists	economist	NOUN
cblr-1707	44	3	can	can	AUX
cblr-1707	44	4	not	not	PART
cblr-1707	44	5	accept	accept	VERB
cblr-1707	44	6	this	this	PRON
cblr-1707	44	7	as	as	ADP
cblr-1707	44	8	being	be	AUX
cblr-1707	44	9	the	the	DET
cblr-1707	44	10	common	common	ADJ
cblr-1707	44	11	-	-	PUNCT
cblr-1707	44	12	sense	sense	NOUN
cblr-1707	44	13	which	which	PRON
cblr-1707	44	14	it	it	PRON
cblr-1707	44	15	pretends	pretend	VERB
cblr-1707	44	16	to	to	PART
cblr-1707	44	17	be	be	AUX
cblr-1707	44	18	.	.	PUNCT
cblr-1707	44	19	”	"	PUNCT
cblr-1707	44	20	)	)	PUNCT
cblr-1707	44	21	;	;	PUNCT
cblr-1707	44	22	j.	j.	PROPN
cblr-1707	44	23	laurence	laurence	PROPN
cblr-1707	44	24	laughlin	laughlin	PROPN
cblr-1707	44	25	,	,	PUNCT
cblr-1707	44	26	the	the	DET
cblr-1707	44	27	principles	principle	NOUN
cblr-1707	44	28	of	of	ADP
cblr-1707	44	29	money	money	NOUN
cblr-1707	44	30	119	119	NUM
cblr-1707	44	31	(	(	PUNCT
cblr-1707	44	32	1919	1919	NUM
cblr-1707	44	33	)	)	PUNCT
cblr-1707	44	34	(	(	PUNCT
cblr-1707	44	35	“	"	PUNCT
cblr-1707	44	36	a	a	DET
cblr-1707	44	37	loan	loan	NOUN
cblr-1707	44	38	is	be	AUX
cblr-1707	44	39	inevitably	inevitably	ADV
cblr-1707	44	40	followed	follow	VERB
cblr-1707	44	41	by	by	ADP
cblr-1707	44	42	the	the	DET
cblr-1707	44	43	creation	creation	NOUN
cblr-1707	44	44	of	of	ADP
cblr-1707	44	45	a	a	DET
cblr-1707	44	46	deposit	deposit	NOUN
cblr-1707	44	47	account	account	NOUN
cblr-1707	44	48	in	in	ADP
cblr-1707	44	49	favor	favor	NOUN
cblr-1707	44	50	of	of	ADP
cblr-1707	44	51	the	the	DET
cblr-1707	44	52	borrower	borrower	NOUN
cblr-1707	44	53	;	;	PUNCT
cblr-1707	44	54	as	as	ADV
cblr-1707	44	55	yet	yet	ADV
cblr-1707	44	56	no	no	DET
cblr-1707	44	57	money	money	NOUN
cblr-1707	44	58	is	be	AUX
cblr-1707	44	59	paid	pay	VERB
cblr-1707	44	60	out	out	ADP
cblr-1707	44	61	or	or	CCONJ
cblr-1707	44	62	comes	come	VERB
cblr-1707	44	63	in	in	ADP
cblr-1707	44	64	.	.	PUNCT
cblr-1707	44	65	”	"	PUNCT
cblr-1707	44	66	)	)	PUNCT
cblr-1707	44	67	;	;	PUNCT
cblr-1707	44	68	joseph	joseph	PROPN
cblr-1707	44	69	a.	a.	NOUN
cblr-1707	44	70	schumpeter	schumpeter	PROPN
cblr-1707	44	71	,	,	PUNCT
cblr-1707	44	72	history	history	NOUN
cblr-1707	44	73	of	of	ADP
cblr-1707	44	74	economic	economic	ADJ
cblr-1707	44	75	analysis	analysis	NOUN
cblr-1707	44	76	1114	1114	NUM
cblr-1707	44	77	(	(	PUNCT
cblr-1707	44	78	1954	1954	NUM
cblr-1707	44	79	)	)	PUNCT
cblr-1707	44	80	(	(	PUNCT
cblr-1707	44	81	“	"	PUNCT
cblr-1707	44	82	it	it	PRON
cblr-1707	44	83	is	be	AUX
cblr-1707	44	84	much	much	ADV
cblr-1707	44	85	more	more	ADV
cblr-1707	44	86	realistic	realistic	ADJ
cblr-1707	44	87	to	to	PART
cblr-1707	44	88	say	say	VERB
cblr-1707	44	89	that	that	SCONJ
cblr-1707	44	90	banks	bank	NOUN
cblr-1707	44	91	.	.	PUNCT
cblr-1707	44	92	.	.	PUNCT
cblr-1707	44	93	.	.	PUNCT
cblr-1707	45	1	create	create	VERB
cblr-1707	45	2	deposits	deposit	NOUN
cblr-1707	45	3	in	in	ADP
cblr-1707	45	4	their	their	PRON
cblr-1707	45	5	act	act	NOUN
cblr-1707	45	6	of	of	ADP
cblr-1707	45	7	lending	lending	NOUN
cblr-1707	45	8	,	,	PUNCT
cblr-1707	45	9	than	than	SCONJ
cblr-1707	45	10	to	to	PART
cblr-1707	45	11	say	say	VERB
cblr-1707	45	12	that	that	SCONJ
cblr-1707	45	13	they	they	PRON
cblr-1707	45	14	lend	lend	VERB
cblr-1707	45	15	the	the	DET
cblr-1707	45	16	deposits	deposit	NOUN
cblr-1707	45	17	that	that	PRON
cblr-1707	45	18	have	have	AUX
cblr-1707	45	19	been	be	AUX
cblr-1707	45	20	entrusted	entrust	VERB
cblr-1707	45	21	to	to	ADP
cblr-1707	45	22	them	they	PRON
cblr-1707	45	23	.	.	PUNCT
cblr-1707	45	24	”	"	PUNCT
cblr-1707	45	25	)	)	PUNCT
cblr-1707	45	26	;	;	PUNCT
cblr-1707	45	27	frank	frank	PROPN
cblr-1707	45	28	a.	a.	NOUN
cblr-1707	45	29	vanderlip	vanderlip	PROPN
cblr-1707	45	30	,	,	PUNCT
cblr-1707	45	31	the	the	DET
cblr-1707	45	32	modern	modern	ADJ
cblr-1707	45	33	bank	bank	NOUN
cblr-1707	45	34	,	,	PUNCT
cblr-1707	45	35	in	in	ADP
cblr-1707	45	36	the	the	DET
cblr-1707	45	37	currency	currency	NOUN
cblr-1707	45	38	problem	problem	NOUN
cblr-1707	45	39	and	and	CCONJ
cblr-1707	45	40	the	the	DET
cblr-1707	45	41	present	present	ADJ
cblr-1707	45	42	financial	financial	ADJ
cblr-1707	45	43	situation	situation	NOUN
cblr-1707	45	44	:	:	PUNCT
cblr-1707	45	45	a	a	DET
cblr-1707	45	46	series	series	NOUN
cblr-1707	45	47	of	of	ADP
cblr-1707	45	48	addresses	address	NOUN
cblr-1707	45	49	delivered	deliver	VERB
cblr-1707	45	50	at	at	ADP
cblr-1707	45	51	columbia	columbia	PROPN
cblr-1707	45	52	university	university	PROPN
cblr-1707	45	53	,	,	PUNCT
cblr-1707	45	54	1907–1908	1907–1908	NUM
cblr-1707	45	55	1	1	NUM
cblr-1707	45	56	,	,	PUNCT
cblr-1707	45	57	5	5	NUM
cblr-1707	45	58	(	(	PUNCT
cblr-1707	45	59	1908	1908	NUM
cblr-1707	45	60	)	)	PUNCT
cblr-1707	45	61	(	(	PUNCT
cblr-1707	45	62	“	"	PUNCT
cblr-1707	45	63	it	it	PRON
cblr-1707	45	64	is	be	AUX
cblr-1707	45	65	a	a	DET
cblr-1707	45	66	misconception	misconception	NOUN
cblr-1707	45	67	to	to	PART
cblr-1707	45	68	suppose	suppose	VERB
cblr-1707	45	69	that	that	SCONJ
cblr-1707	45	70	a	a	DET
cblr-1707	45	71	bank	bank	NOUN
cblr-1707	45	72	first	first	ADV
cblr-1707	45	73	accumulates	accumulate	VERB
cblr-1707	45	74	deposits	deposit	NOUN
cblr-1707	45	75	and	and	CCONJ
cblr-1707	45	76	then	then	ADV
cblr-1707	45	77	loans	loan	VERB
cblr-1707	45	78	them	they	PRON
cblr-1707	45	79	out	out	ADP
cblr-1707	45	80	to	to	ADP
cblr-1707	45	81	borrowers	borrower	NOUN
cblr-1707	45	82	.	.	PUNCT
cblr-1707	46	1	the	the	DET
cblr-1707	46	2	operation	operation	NOUN
cblr-1707	46	3	is	be	AUX
cblr-1707	46	4	the	the	DET
cblr-1707	46	5	reverse	reverse	NOUN
cblr-1707	46	6	.	.	PUNCT
cblr-1707	47	1	the	the	DET
cblr-1707	47	2	bank	bank	NOUN
cblr-1707	47	3	first	first	ADV
cblr-1707	47	4	makes	make	VERB
cblr-1707	47	5	a	a	DET
cblr-1707	47	6	loan	loan	NOUN
cblr-1707	47	7	to	to	ADP
cblr-1707	47	8	the	the	DET
cblr-1707	47	9	borrower	borrower	NOUN
cblr-1707	47	10	and	and	CCONJ
cblr-1707	47	11	in	in	ADP
cblr-1707	47	12	so	so	ADV
cblr-1707	47	13	doing	do	VERB
cblr-1707	47	14	creates	create	VERB
cblr-1707	47	15	a	a	DET
cblr-1707	47	16	deposit	deposit	NOUN
cblr-1707	47	17	.	.	PUNCT
cblr-1707	47	18	”	"	PUNCT
cblr-1707	47	19	)	)	PUNCT
cblr-1707	47	20	;	;	PUNCT
cblr-1707	47	21	l.	l.	PROPN
cblr-1707	47	22	randall	randall	PROPN
cblr-1707	47	23	wray	wray	PROPN
cblr-1707	47	24	,	,	PUNCT
cblr-1707	47	25	money	money	NOUN
cblr-1707	47	26	and	and	CCONJ
cblr-1707	47	27	credit	credit	NOUN
cblr-1707	47	28	in	in	ADP
cblr-1707	47	29	capitalist	capitalist	ADJ
cblr-1707	47	30	economies	economy	NOUN
cblr-1707	47	31	:	:	PUNCT
cblr-1707	47	32	the	the	DET
cblr-1707	47	33	endogenous	endogenous	ADJ
cblr-1707	47	34	money	money	NOUN
cblr-1707	47	35	approach	approach	NOUN
cblr-1707	47	36	73	73	NUM
cblr-1707	47	37	(	(	PUNCT
cblr-1707	47	38	1990	1990	NUM
cblr-1707	47	39	)	)	PUNCT
cblr-1707	47	40	(	(	PUNCT
cblr-1707	47	41	“	"	PUNCT
cblr-1707	47	42	[	[	X
cblr-1707	47	43	l]oans	l]oan	NOUN
cblr-1707	47	44	make	make	VERB
cblr-1707	47	45	deposits	deposit	NOUN
cblr-1707	47	46	[	[	X
cblr-1707	47	47	.	.	X
cblr-1707	47	48	]	]	X
cblr-1707	47	49	”	"	PUNCT
cblr-1707	47	50	)	)	PUNCT
cblr-1707	47	51	;	;	PUNCT
cblr-1707	48	1	michael	michael	PROPN
cblr-1707	48	2	mcleay	mcleay	PROPN
cblr-1707	48	3	,	,	PUNCT
cblr-1707	48	4	amar	amar	PROPN
cblr-1707	48	5	radia	radia	PROPN
cblr-1707	48	6	&	&	CCONJ
cblr-1707	48	7	ryland	ryland	PROPN
cblr-1707	48	8	thomas	thomas	PROPN
cblr-1707	48	9	,	,	PUNCT
cblr-1707	48	10	money	money	NOUN
cblr-1707	48	11	creation	creation	NOUN
cblr-1707	48	12	in	in	ADP
cblr-1707	48	13	the	the	DET
cblr-1707	48	14	modern	modern	ADJ
cblr-1707	48	15	economy	economy	NOUN
cblr-1707	48	16	,	,	PUNCT
cblr-1707	48	17	2014	2014	NUM
cblr-1707	48	18	bank	bank	PROPN
cblr-1707	48	19	england	england	PROPN
cblr-1707	48	20	q.	q.	PROPN
cblr-1707	48	21	bull	bull	PROPN
cblr-1707	48	22	.	.	PUNCT
cblr-1707	49	1	14	14	NUM
cblr-1707	49	2	,	,	PUNCT
cblr-1707	49	3	15	15	NUM
cblr-1707	49	4	(	(	PUNCT
cblr-1707	49	5	“	"	PUNCT
cblr-1707	49	6	[	[	X
cblr-1707	49	7	it	it	PRON
cblr-1707	49	8	is	be	AUX
cblr-1707	49	9	a	a	DET
cblr-1707	49	10	]	]	PUNCT
cblr-1707	49	11	common	common	ADJ
cblr-1707	49	12	misconception	misconception	NOUN
cblr-1707	49	13	.	.	PUNCT
cblr-1707	49	14	.	.	PUNCT
cblr-1707	49	15	.	.	PUNCT
cblr-1707	50	1	that	that	PRON
cblr-1707	50	2	banks	bank	NOUN
cblr-1707	50	3	act	act	VERB
cblr-1707	50	4	simply	simply	ADV
cblr-1707	50	5	as	as	ADP
cblr-1707	50	6	intermediaries	intermediary	NOUN
cblr-1707	50	7	,	,	PUNCT
cblr-1707	50	8	lending	lend	VERB
cblr-1707	50	9	out	out	ADP
cblr-1707	50	10	the	the	DET
cblr-1707	50	11	deposits	deposit	NOUN
cblr-1707	50	12	that	that	SCONJ
cblr-1707	50	13	savers	saver	NOUN
cblr-1707	50	14	place	place	VERB
cblr-1707	50	15	with	with	ADP
cblr-1707	50	16	them	they	PRON
cblr-1707	50	17	.	.	PUNCT
cblr-1707	50	18	.	.	PUNCT
cblr-1707	51	1	.	.	PUNCT
cblr-1707	52	1	.	.	PUNCT
cblr-1707	53	1	[	[	X
cblr-1707	53	2	t]he	t]he	X
cblr-1707	53	3	act	act	NOUN
cblr-1707	53	4	of	of	ADP
cblr-1707	53	5	lending	lending	NOUN
cblr-1707	53	6	creates	create	VERB
cblr-1707	53	7	deposits	deposit	NOUN
cblr-1707	53	8	—	—	PUNCT
cblr-1707	53	9	the	the	DET
cblr-1707	53	10	reverse	reverse	NOUN
cblr-1707	53	11	of	of	ADP
cblr-1707	53	12	the	the	DET
cblr-1707	53	13	sequence	sequence	NOUN
cblr-1707	53	14	typically	typically	ADV
cblr-1707	53	15	described	describe	VERB
cblr-1707	53	16	in	in	ADP
cblr-1707	53	17	textbooks	textbook	NOUN
cblr-1707	53	18	.	.	PUNCT
cblr-1707	53	19	”	"	PUNCT
cblr-1707	53	20	)	)	PUNCT
cblr-1707	53	21	.	.	PUNCT
cblr-1707	54	1	6	6	NUM
cblr-1707	54	2	for	for	ADP
cblr-1707	54	3	instance	instance	NOUN
cblr-1707	54	4	,	,	PUNCT
cblr-1707	54	5	posner	posner	NOUN
cblr-1707	54	6	refers	refer	VERB
cblr-1707	54	7	in	in	ADP
cblr-1707	54	8	passing	pass	VERB
cblr-1707	54	9	to	to	ADP
cblr-1707	54	10	banks	bank	NOUN
cblr-1707	54	11	’	'	PUNCT
cblr-1707	54	12	role	role	NOUN
cblr-1707	54	13	in	in	ADP
cblr-1707	54	14	“	"	PUNCT
cblr-1707	54	15	expanding	expand	VERB
cblr-1707	54	16	and	and	CCONJ
cblr-1707	54	17	contracting	contract	VERB
cblr-1707	54	18	the	the	DET
cblr-1707	54	19	supply	supply	NOUN
cblr-1707	54	20	of	of	ADP
cblr-1707	54	21	money	money	NOUN
cblr-1707	54	22	.	.	PUNCT
cblr-1707	54	23	”	"	PUNCT
cblr-1707	55	1	posner	posner	NOUN
cblr-1707	55	2	,	,	PUNCT
cblr-1707	55	3	supra	supra	PROPN
cblr-1707	55	4	note	note	NOUN
cblr-1707	55	5	2	2	NUM
cblr-1707	55	6	,	,	PUNCT
cblr-1707	55	7	at	at	ADP
cblr-1707	55	8	20	20	NUM
cblr-1707	55	9	.	.	PUNCT
cblr-1707	56	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	56	2	760	760	NUM
cblr-1707	56	3	columbia	columbia	PROPN
cblr-1707	56	4	business	business	NOUN
cblr-1707	56	5	law	law	PROPN
cblr-1707	56	6	review	review	NOUN
cblr-1707	56	7	[	[	X
cblr-1707	56	8	vol	vol	NOUN
cblr-1707	56	9	.	.	NOUN
cblr-1707	56	10	2018	2018	NUM
cblr-1707	56	11	asset	asset	NOUN
cblr-1707	56	12	portfolios	portfolio	NOUN
cblr-1707	56	13	)	)	PUNCT
cblr-1707	56	14	,	,	PUNCT
cblr-1707	56	15	the	the	DET
cblr-1707	56	16	money	money	NOUN
cblr-1707	56	17	paradigm	paradigm	NOUN
cblr-1707	56	18	is	be	AUX
cblr-1707	56	19	more	more	ADV
cblr-1707	56	20	concerned	concerned	ADJ
cblr-1707	56	21	with	with	ADP
cblr-1707	56	22	the	the	DET
cblr-1707	56	23	right	right	ADJ
cblr-1707	56	24	side	side	NOUN
cblr-1707	56	25	(	(	PUNCT
cblr-1707	56	26	i.e.	i.e.	X
cblr-1707	56	27	,	,	PUNCT
cblr-1707	56	28	liabilities	liability	NOUN
cblr-1707	56	29	that	that	PRON
cblr-1707	56	30	function	function	VERB
cblr-1707	56	31	as	as	ADP
cblr-1707	56	32	money	money	NOUN
cblr-1707	56	33	)	)	PUNCT
cblr-1707	56	34	.	.	PUNCT
cblr-1707	57	1	while	while	SCONJ
cblr-1707	57	2	the	the	DET
cblr-1707	57	3	intermediation	intermediation	NOUN
cblr-1707	57	4	paradigm	paradigm	NOUN
cblr-1707	57	5	sees	see	VERB
cblr-1707	57	6	banks	bank	NOUN
cblr-1707	57	7	as	as	ADP
cblr-1707	57	8	private	private	ADJ
cblr-1707	57	9	institutions	institution	NOUN
cblr-1707	57	10	,	,	PUNCT
cblr-1707	57	11	the	the	DET
cblr-1707	57	12	money	money	NOUN
cblr-1707	57	13	paradigm	paradigm	NOUN
cblr-1707	57	14	highlights	highlight	VERB
cblr-1707	57	15	their	their	PRON
cblr-1707	57	16	public	public	ADJ
cblr-1707	57	17	dimension	dimension	NOUN
cblr-1707	57	18	as	as	ADP
cblr-1707	57	19	central	central	ADJ
cblr-1707	57	20	components	component	NOUN
cblr-1707	57	21	of	of	ADP
cblr-1707	57	22	the	the	DET
cblr-1707	57	23	monetary	monetary	ADJ
cblr-1707	57	24	system	system	NOUN
cblr-1707	57	25	.	.	PUNCT
cblr-1707	58	1	while	while	SCONJ
cblr-1707	58	2	the	the	DET
cblr-1707	58	3	intermediation	intermediation	NOUN
cblr-1707	58	4	paradigm	paradigm	NOUN
cblr-1707	58	5	finds	find	VERB
cblr-1707	58	6	little	little	ADJ
cblr-1707	58	7	that	that	PRON
cblr-1707	58	8	is	be	AUX
cblr-1707	58	9	special	special	ADJ
cblr-1707	58	10	about	about	ADP
cblr-1707	58	11	banks,7	banks,7	ADP
cblr-1707	58	12	the	the	DET
cblr-1707	58	13	money	money	NOUN
cblr-1707	58	14	paradigm	paradigm	NOUN
cblr-1707	58	15	asserts	assert	VERB
cblr-1707	58	16	that	that	SCONJ
cblr-1707	58	17	banks	bank	NOUN
cblr-1707	58	18	are	be	AUX
cblr-1707	58	19	indeed	indeed	ADV
cblr-1707	58	20	special.8	special.8	ADP
cblr-1707	58	21	the	the	DET
cblr-1707	58	22	money	money	NOUN
cblr-1707	58	23	paradigm	paradigm	NOUN
cblr-1707	58	24	dominated	dominate	VERB
cblr-1707	58	25	anglo	anglo	ADJ
cblr-1707	58	26	-	-	PUNCT
cblr-1707	58	27	american	american	ADJ
cblr-1707	58	28	banking	banking	NOUN
cblr-1707	58	29	thought	think	VERB
cblr-1707	58	30	during	during	ADP
cblr-1707	58	31	the	the	DET
cblr-1707	58	32	nineteenth	nineteenth	NOUN
cblr-1707	58	33	century.9	century.9	PROPN
cblr-1707	58	34	over	over	ADP
cblr-1707	58	35	the	the	DET
cblr-1707	58	36	course	course	NOUN
cblr-1707	58	37	of	of	ADP
cblr-1707	58	38	the	the	DET
cblr-1707	58	39	twentieth	twentieth	ADJ
cblr-1707	58	40	century	century	NOUN
cblr-1707	58	41	,	,	PUNCT
cblr-1707	58	42	however	however	ADV
cblr-1707	58	43	,	,	PUNCT
cblr-1707	58	44	the	the	DET
cblr-1707	58	45	intermediation	intermediation	NOUN
cblr-1707	58	46	paradigm	paradigm	NOUN
cblr-1707	58	47	gradually	gradually	ADV
cblr-1707	58	48	assumed	assume	VERB
cblr-1707	58	49	primacy	primacy	NOUN
cblr-1707	58	50	.	.	PUNCT
cblr-1707	59	1	among	among	ADP
cblr-1707	59	2	the	the	DET
cblr-1707	59	3	likely	likely	ADJ
cblr-1707	59	4	explanations	explanation	NOUN
cblr-1707	59	5	for	for	ADP
cblr-1707	59	6	this	this	DET
cblr-1707	59	7	eclipse	eclipse	NOUN
cblr-1707	59	8	,	,	PUNCT
cblr-1707	59	9	two	two	NUM
cblr-1707	59	10	stand	stand	VERB
cblr-1707	59	11	out	out	ADP
cblr-1707	59	12	.	.	PUNCT
cblr-1707	60	1	the	the	DET
cblr-1707	60	2	first	first	ADJ
cblr-1707	60	3	has	have	VERB
cblr-1707	60	4	to	to	PART
cblr-1707	60	5	do	do	VERB
cblr-1707	60	6	with	with	ADP
cblr-1707	60	7	the	the	DET
cblr-1707	60	8	formal	formal	ADJ
cblr-1707	60	9	attributes	attribute	NOUN
cblr-1707	60	10	of	of	ADP
cblr-1707	60	11	banks	bank	NOUN
cblr-1707	60	12	’	'	PUNCT
cblr-1707	60	13	monetary	monetary	ADJ
cblr-1707	60	14	liabilities	liability	NOUN
cblr-1707	60	15	.	.	PUNCT
cblr-1707	61	1	in	in	ADP
cblr-1707	61	2	the	the	DET
cblr-1707	61	3	nineteenth	nineteenth	ADJ
cblr-1707	61	4	century	century	NOUN
cblr-1707	61	5	,	,	PUNCT
cblr-1707	61	6	the	the	DET
cblr-1707	61	7	prototypical	prototypical	ADJ
cblr-1707	61	8	bank	bank	NOUN
cblr-1707	61	9	liability	liability	NOUN
cblr-1707	61	10	was	be	AUX
cblr-1707	61	11	the	the	DET
cblr-1707	61	12	bank	bank	NOUN
cblr-1707	61	13	note	note	NOUN
cblr-1707	61	14	:	:	PUNCT
cblr-1707	61	15	a	a	DET
cblr-1707	61	16	tangible	tangible	ADJ
cblr-1707	61	17	piece	piece	NOUN
cblr-1707	61	18	of	of	ADP
cblr-1707	61	19	paper	paper	NOUN
cblr-1707	61	20	that	that	PRON
cblr-1707	61	21	circulated	circulate	VERB
cblr-1707	61	22	as	as	ADP
cblr-1707	61	23	money	money	NOUN
cblr-1707	61	24	.	.	PUNCT
cblr-1707	62	1	by	by	ADP
cblr-1707	62	2	the	the	DET
cblr-1707	62	3	early	early	ADJ
cblr-1707	62	4	twentieth	twentieth	ADJ
cblr-1707	62	5	century	century	NOUN
cblr-1707	62	6	,	,	PUNCT
cblr-1707	62	7	the	the	DET
cblr-1707	62	8	checkable	checkable	ADJ
cblr-1707	62	9	deposit	deposit	NOUN
cblr-1707	62	10	account	account	NOUN
cblr-1707	62	11	had	have	AUX
cblr-1707	62	12	largely	largely	ADV
cblr-1707	62	13	supplanted	supplant	VERB
cblr-1707	62	14	the	the	DET
cblr-1707	62	15	private	private	ADJ
cblr-1707	62	16	bank	bank	NOUN
cblr-1707	62	17	note	note	NOUN
cblr-1707	62	18	.	.	PUNCT
cblr-1707	63	1	now	now	ADV
cblr-1707	63	2	,	,	PUNCT
cblr-1707	63	3	in	in	ADP
cblr-1707	63	4	economic	economic	ADJ
cblr-1707	63	5	substance	substance	NOUN
cblr-1707	63	6	,	,	PUNCT
cblr-1707	63	7	bank	bank	NOUN
cblr-1707	63	8	notes	note	NOUN
cblr-1707	63	9	and	and	CCONJ
cblr-1707	63	10	transaction	transaction	NOUN
cblr-1707	63	11	accounts	account	NOUN
cblr-1707	63	12	are	be	AUX
cblr-1707	63	13	virtually	virtually	ADV
cblr-1707	63	14	identical	identical	ADJ
cblr-1707	63	15	.	.	PUNCT
cblr-1707	64	1	both	both	PRON
cblr-1707	64	2	are	be	AUX
cblr-1707	64	3	demandable	demandable	ADJ
cblr-1707	64	4	claims	claim	NOUN
cblr-1707	64	5	,	,	PUNCT
cblr-1707	64	6	puttable	puttable	ADJ
cblr-1707	64	7	to	to	ADP
cblr-1707	64	8	the	the	DET
cblr-1707	64	9	bank	bank	NOUN
cblr-1707	64	10	at	at	ADP
cblr-1707	64	11	par	par	NOUN
cblr-1707	64	12	,	,	PUNCT
cblr-1707	64	13	that	that	PRON
cblr-1707	64	14	function	function	VERB
cblr-1707	64	15	as	as	ADP
cblr-1707	64	16	money	money	NOUN
cblr-1707	64	17	.	.	PUNCT
cblr-1707	65	1	(	(	PUNCT
cblr-1707	65	2	bank	bank	NOUN
cblr-1707	65	3	notes	note	NOUN
cblr-1707	65	4	are	be	AUX
cblr-1707	65	5	paper	paper	NOUN
cblr-1707	65	6	money	money	NOUN
cblr-1707	65	7	,	,	PUNCT
cblr-1707	65	8	whereas	whereas	SCONJ
cblr-1707	65	9	deposit	deposit	NOUN
cblr-1707	65	10	balances	balance	NOUN
cblr-1707	65	11	can	can	AUX
cblr-1707	65	12	be	be	AUX
cblr-1707	65	13	understood	understand	VERB
cblr-1707	65	14	as	as	ADP
cblr-1707	65	15	“	"	PUNCT
cblr-1707	65	16	account	account	NOUN
cblr-1707	65	17	money	money	NOUN
cblr-1707	65	18	.	.	PUNCT
cblr-1707	65	19	”	"	PUNCT
cblr-1707	65	20	)	)	PUNCT
cblr-1707	66	1	but	but	CCONJ
cblr-1707	66	2	the	the	DET
cblr-1707	66	3	physicality	physicality	NOUN
cblr-1707	66	4	of	of	ADP
cblr-1707	66	5	the	the	DET
cblr-1707	66	6	bank	bank	NOUN
cblr-1707	66	7	note	note	NOUN
cblr-1707	66	8	made	make	VERB
cblr-1707	66	9	its	its	PRON
cblr-1707	66	10	monetary	monetary	ADJ
cblr-1707	66	11	function	function	NOUN
cblr-1707	66	12	much	much	ADV
cblr-1707	66	13	more	more	ADV
cblr-1707	66	14	conspicuous	conspicuous	ADJ
cblr-1707	66	15	.	.	PUNCT
cblr-1707	67	1	bank	bank	NOUN
cblr-1707	67	2	notes	note	NOUN
cblr-1707	67	3	were	be	AUX
cblr-1707	67	4	plainly	plainly	ADV
cblr-1707	67	5	issued	issue	VERB
cblr-1707	67	6	.	.	PUNCT
cblr-1707	68	1	as	as	ADP
cblr-1707	68	2	the	the	DET
cblr-1707	68	3	transition	transition	NOUN
cblr-1707	68	4	from	from	ADP
cblr-1707	68	5	notes	note	NOUN
cblr-1707	68	6	to	to	ADP
cblr-1707	68	7	accounts	account	NOUN
cblr-1707	68	8	unfolded	unfold	VERB
cblr-1707	68	9	,	,	PUNCT
cblr-1707	68	10	numerous	numerous	ADJ
cblr-1707	68	11	prominent	prominent	ADJ
cblr-1707	68	12	authorities	authority	NOUN
cblr-1707	68	13	insisted	insist	VERB
cblr-1707	68	14	on	on	ADP
cblr-1707	68	15	the	the	DET
cblr-1707	68	16	7	7	NUM
cblr-1707	68	17	see	see	NOUN
cblr-1707	68	18	richard	richard	PROPN
cblr-1707	68	19	c.	c.	PROPN
cblr-1707	68	20	aspinwall	aspinwall	PROPN
cblr-1707	68	21	,	,	PUNCT
cblr-1707	68	22	on	on	ADP
cblr-1707	68	23	the	the	DET
cblr-1707	68	24	“	"	PUNCT
cblr-1707	68	25	specialness	specialness	NOUN
cblr-1707	68	26	”	"	PUNCT
cblr-1707	68	27	of	of	ADP
cblr-1707	68	28	banking	banking	NOUN
cblr-1707	68	29	,	,	PUNCT
cblr-1707	68	30	7	7	NUM
cblr-1707	68	31	issues	issue	NOUN
cblr-1707	68	32	bank	bank	NOUN
cblr-1707	68	33	reg	reg	NOUN
cblr-1707	68	34	.	.	PUNCT
cblr-1707	69	1	16	16	NUM
cblr-1707	69	2	,	,	PUNCT
cblr-1707	69	3	16–18	16–18	NUM
cblr-1707	69	4	(	(	PUNCT
cblr-1707	69	5	1983	1983	NUM
cblr-1707	69	6	)	)	PUNCT
cblr-1707	69	7	.	.	PUNCT
cblr-1707	70	1	8	8	NUM
cblr-1707	70	2	see	see	VERB
cblr-1707	70	3	e.	e.	PROPN
cblr-1707	70	4	gerald	gerald	PROPN
cblr-1707	70	5	corrigan	corrigan	PROPN
cblr-1707	70	6	,	,	PUNCT
cblr-1707	70	7	fed	fed	PROPN
cblr-1707	70	8	.	.	PROPN
cblr-1707	70	9	reserve	reserve	PROPN
cblr-1707	70	10	bank	bank	PROPN
cblr-1707	70	11	of	of	ADP
cblr-1707	70	12	minneapolis	minneapolis	PROPN
cblr-1707	70	13	,	,	PUNCT
cblr-1707	70	14	annual	annual	ADJ
cblr-1707	70	15	report	report	NOUN
cblr-1707	70	16	1982	1982	NUM
cblr-1707	70	17	:	:	PUNCT
cblr-1707	70	18	are	be	AUX
cblr-1707	70	19	banks	bank	NOUN
cblr-1707	70	20	special	special	ADJ
cblr-1707	70	21	?	?	PUNCT
cblr-1707	71	1	(	(	PUNCT
cblr-1707	71	2	1982	1982	NUM
cblr-1707	71	3	)	)	PUNCT
cblr-1707	71	4	,	,	PUNCT
cblr-1707	71	5	https://www.minneapolisfed.org/publications/annual-reports/ar/annualreport-1982-complete-text	https://www.minneapolisfed.org/publications/annual-reports/ar/annualreport-1982-complete-text	NOUN
cblr-1707	72	1	[	[	X
cblr-1707	72	2	https://perma.cc/xy24-7qdd	https://perma.cc/xy24-7qdd	X
cblr-1707	72	3	]	]	X
cblr-1707	72	4	.	.	PUNCT
cblr-1707	72	5	9	9	NUM
cblr-1707	72	6	see	see	VERB
cblr-1707	72	7	,	,	PUNCT
cblr-1707	72	8	e.g.	e.g.	ADV
cblr-1707	72	9	,	,	PUNCT
cblr-1707	72	10	bray	bray	PROPN
cblr-1707	72	11	hammond	hammond	PROPN
cblr-1707	72	12	,	,	PUNCT
cblr-1707	72	13	banks	bank	NOUN
cblr-1707	72	14	and	and	CCONJ
cblr-1707	72	15	politics	politic	NOUN
cblr-1707	72	16	in	in	ADP
cblr-1707	72	17	america	america	PROPN
cblr-1707	72	18	from	from	ADP
cblr-1707	72	19	the	the	DET
cblr-1707	72	20	revolution	revolution	NOUN
cblr-1707	72	21	to	to	ADP
cblr-1707	72	22	the	the	DET
cblr-1707	72	23	civil	civil	ADJ
cblr-1707	72	24	war	war	NOUN
cblr-1707	72	25	186	186	NUM
cblr-1707	72	26	(	(	PUNCT
cblr-1707	72	27	1957	1957	NUM
cblr-1707	72	28	)	)	PUNCT
cblr-1707	72	29	(	(	PUNCT
cblr-1707	72	30	noting	note	VERB
cblr-1707	72	31	that	that	SCONJ
cblr-1707	72	32	in	in	ADP
cblr-1707	72	33	the	the	DET
cblr-1707	72	34	early	early	ADJ
cblr-1707	72	35	years	year	NOUN
cblr-1707	72	36	of	of	ADP
cblr-1707	72	37	the	the	DET
cblr-1707	72	38	republic	republic	NOUN
cblr-1707	72	39	,	,	PUNCT
cblr-1707	72	40	“	"	PUNCT
cblr-1707	72	41	[	[	X
cblr-1707	72	42	t]he	t]he	ADJ
cblr-1707	72	43	impression	impression	NOUN
cblr-1707	72	44	was	be	AUX
cblr-1707	72	45	general	general	ADJ
cblr-1707	72	46	that	that	SCONJ
cblr-1707	72	47	the	the	DET
cblr-1707	72	48	exercise	exercise	NOUN
cblr-1707	72	49	of	of	ADP
cblr-1707	72	50	the	the	DET
cblr-1707	72	51	banking	banking	NOUN
cblr-1707	72	52	function	function	NOUN
cblr-1707	72	53	without	without	ADP
cblr-1707	72	54	express	express	ADJ
cblr-1707	72	55	authorization	authorization	NOUN
cblr-1707	72	56	from	from	ADP
cblr-1707	72	57	the	the	DET
cblr-1707	72	58	sovereign	sovereign	ADJ
cblr-1707	72	59	power	power	NOUN
cblr-1707	72	60	was	be	AUX
cblr-1707	72	61	improper	improper	ADJ
cblr-1707	72	62	”	"	PUNCT
cblr-1707	72	63	because	because	SCONJ
cblr-1707	72	64	“	"	PUNCT
cblr-1707	72	65	banks	bank	NOUN
cblr-1707	72	66	,	,	PUNCT
cblr-1707	72	67	being	be	AUX
cblr-1707	72	68	by	by	ADP
cblr-1707	72	69	nature	nature	NOUN
cblr-1707	72	70	imbued	imbue	VERB
cblr-1707	72	71	with	with	ADP
cblr-1707	72	72	monetary	monetary	ADJ
cblr-1707	72	73	powers	power	NOUN
cblr-1707	72	74	,	,	PUNCT
cblr-1707	72	75	were	be	AUX
cblr-1707	72	76	in	in	ADP
cblr-1707	72	77	a	a	DET
cblr-1707	72	78	peculiar	peculiar	ADJ
cblr-1707	72	79	sense	sense	NOUN
cblr-1707	72	80	responsible	responsible	ADJ
cblr-1707	72	81	to	to	ADP
cblr-1707	72	82	the	the	DET
cblr-1707	72	83	state	state	NOUN
cblr-1707	72	84	.	.	PUNCT
cblr-1707	72	85	”	"	PUNCT
cblr-1707	72	86	)	)	PUNCT
cblr-1707	72	87	.	.	PUNCT
cblr-1707	73	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	73	2	no	no	NOUN
cblr-1707	73	3	.	.	PUNCT
cblr-1707	74	1	3:757	3:757	NUM
cblr-1707	74	2	]	]	X
cblr-1707	74	3	money	money	NOUN
cblr-1707	74	4	as	as	ADP
cblr-1707	74	5	infrastructure	infrastructure	NOUN
cblr-1707	74	6	761	761	NUM
cblr-1707	74	7	functional	functional	ADJ
cblr-1707	74	8	equivalence	equivalence	NOUN
cblr-1707	74	9	of	of	ADP
cblr-1707	74	10	these	these	DET
cblr-1707	74	11	two	two	NUM
cblr-1707	74	12	types	type	NOUN
cblr-1707	74	13	of	of	ADP
cblr-1707	74	14	claims.10	claims.10	NOUN
cblr-1707	74	15	that	that	PRON
cblr-1707	74	16	they	they	PRON
cblr-1707	74	17	felt	feel	VERB
cblr-1707	74	18	the	the	DET
cblr-1707	74	19	need	need	NOUN
cblr-1707	74	20	to	to	PART
cblr-1707	74	21	do	do	AUX
cblr-1707	74	22	so	so	ADV
cblr-1707	74	23	testifies	testify	VERB
cblr-1707	74	24	to	to	ADP
cblr-1707	74	25	the	the	DET
cblr-1707	74	26	conceptual	conceptual	ADJ
cblr-1707	74	27	difficulty	difficulty	NOUN
cblr-1707	74	28	that	that	PRON
cblr-1707	74	29	deposit	deposit	NOUN
cblr-1707	74	30	accounts	account	NOUN
cblr-1707	74	31	posed	pose	VERB
cblr-1707	74	32	in	in	ADP
cblr-1707	74	33	many	many	ADJ
cblr-1707	74	34	minds	mind	NOUN
cblr-1707	74	35	.	.	PUNCT
cblr-1707	75	1	even	even	ADV
cblr-1707	75	2	today	today	NOUN
cblr-1707	75	3	,	,	PUNCT
cblr-1707	75	4	the	the	DET
cblr-1707	75	5	idea	idea	NOUN
cblr-1707	75	6	that	that	SCONJ
cblr-1707	75	7	bank	bank	NOUN
cblr-1707	75	8	accounts	account	NOUN
cblr-1707	75	9	are	be	AUX
cblr-1707	75	10	tantamount	tantamount	ADJ
cblr-1707	75	11	to	to	ADP
cblr-1707	75	12	uncertificated	uncertificated	ADJ
cblr-1707	75	13	bank	bank	NOUN
cblr-1707	75	14	notes	note	NOUN
cblr-1707	75	15	is	be	AUX
cblr-1707	75	16	a	a	DET
cblr-1707	75	17	source	source	NOUN
cblr-1707	75	18	of	of	ADP
cblr-1707	75	19	puzzlement	puzzlement	NOUN
cblr-1707	75	20	,	,	PUNCT
cblr-1707	75	21	though	though	SCONJ
cblr-1707	75	22	no	no	DET
cblr-1707	75	23	one	one	NOUN
cblr-1707	75	24	has	have	VERB
cblr-1707	75	25	trouble	trouble	NOUN
cblr-1707	75	26	understanding	understand	VERB
cblr-1707	75	27	that	that	SCONJ
cblr-1707	75	28	securities	security	NOUN
cblr-1707	75	29	can	can	AUX
cblr-1707	75	30	be	be	AUX
cblr-1707	75	31	uncertificated.11	uncertificated.11	VERB
cblr-1707	75	32	the	the	DET
cblr-1707	75	33	second	second	ADJ
cblr-1707	75	34	likely	likely	ADJ
cblr-1707	75	35	explanation	explanation	NOUN
cblr-1707	75	36	for	for	ADP
cblr-1707	75	37	the	the	DET
cblr-1707	75	38	intermediation	intermediation	NOUN
cblr-1707	75	39	paradigm	paradigm	NOUN
cblr-1707	75	40	’s	’s	PART
cblr-1707	75	41	victory	victory	NOUN
cblr-1707	75	42	in	in	ADP
cblr-1707	75	43	the	the	DET
cblr-1707	75	44	twentieth	twentieth	ADJ
cblr-1707	75	45	century	century	NOUN
cblr-1707	75	46	was	be	AUX
cblr-1707	75	47	the	the	DET
cblr-1707	75	48	rise	rise	NOUN
cblr-1707	75	49	and	and	CCONJ
cblr-1707	75	50	pervasive	pervasive	ADJ
cblr-1707	75	51	influence	influence	NOUN
cblr-1707	75	52	of	of	ADP
cblr-1707	75	53	finance	finance	NOUN
cblr-1707	75	54	as	as	ADP
cblr-1707	75	55	a	a	DET
cblr-1707	75	56	discipline.12	discipline.12	NOUN
cblr-1707	75	57	the	the	DET
cblr-1707	75	58	story	story	NOUN
cblr-1707	75	59	of	of	ADP
cblr-1707	75	60	finance	finance	NOUN
cblr-1707	75	61	’s	’s	PART
cblr-1707	75	62	midcentury	midcentury	PROPN
cblr-1707	75	63	ascent	ascent	NOUN
cblr-1707	75	64	within	within	ADP
cblr-1707	75	65	academic	academic	ADJ
cblr-1707	75	66	economics	economic	NOUN
cblr-1707	75	67	has	have	VERB
cblr-1707	75	68	10	10	NUM
cblr-1707	75	69	see	see	NOUN
cblr-1707	75	70	,	,	PUNCT
cblr-1707	75	71	e.g.	e.g.	ADV
cblr-1707	75	72	,	,	PUNCT
cblr-1707	75	73	charles	charles	PROPN
cblr-1707	75	74	f.	f.	PROPN
cblr-1707	75	75	dunbar	dunbar	PROPN
cblr-1707	75	76	,	,	PUNCT
cblr-1707	75	77	the	the	DET
cblr-1707	75	78	theory	theory	NOUN
cblr-1707	75	79	and	and	CCONJ
cblr-1707	75	80	history	history	NOUN
cblr-1707	75	81	of	of	ADP
cblr-1707	75	82	banking	banking	NOUN
cblr-1707	75	83	63	63	NUM
cblr-1707	75	84	(	(	PUNCT
cblr-1707	75	85	3rd	3rd	ADJ
cblr-1707	75	86	ed	ed	NOUN
cblr-1707	75	87	.	.	PROPN
cblr-1707	75	88	1917	1917	NUM
cblr-1707	75	89	)	)	PUNCT
cblr-1707	75	90	(	(	PUNCT
cblr-1707	75	91	“	"	PUNCT
cblr-1707	75	92	legislators	legislator	NOUN
cblr-1707	75	93	have	have	AUX
cblr-1707	75	94	generally	generally	ADV
cblr-1707	75	95	failed	fail	VERB
cblr-1707	75	96	to	to	PART
cblr-1707	75	97	perceive	perceive	VERB
cblr-1707	75	98	the	the	DET
cblr-1707	75	99	similarity	similarity	NOUN
cblr-1707	75	100	of	of	ADP
cblr-1707	75	101	the	the	DET
cblr-1707	75	102	two	two	NUM
cblr-1707	75	103	kinds	kind	NOUN
cblr-1707	75	104	of	of	ADP
cblr-1707	75	105	liability	liability	NOUN
cblr-1707	75	106	[	[	X
cblr-1707	75	107	.	.	PUNCT
cblr-1707	75	108	]	]	X
cblr-1707	75	109	”	"	PUNCT
cblr-1707	75	110	)	)	PUNCT
cblr-1707	75	111	;	;	PUNCT
cblr-1707	75	112	albert	albert	PROPN
cblr-1707	75	113	gallatin	gallatin	PROPN
cblr-1707	75	114	,	,	PUNCT
cblr-1707	75	115	considerations	consideration	NOUN
cblr-1707	75	116	on	on	ADP
cblr-1707	75	117	the	the	DET
cblr-1707	75	118	currency	currency	NOUN
cblr-1707	75	119	and	and	CCONJ
cblr-1707	75	120	banking	banking	NOUN
cblr-1707	75	121	system	system	NOUN
cblr-1707	75	122	of	of	ADP
cblr-1707	75	123	the	the	DET
cblr-1707	75	124	united	united	PROPN
cblr-1707	75	125	states	states	PROPN
cblr-1707	75	126	(	(	PUNCT
cblr-1707	75	127	1831	1831	NUM
cblr-1707	75	128	)	)	PUNCT
cblr-1707	75	129	,	,	PUNCT
cblr-1707	75	130	reprinted	reprint	VERB
cblr-1707	75	131	in	in	ADP
cblr-1707	75	132	3	3	NUM
cblr-1707	75	133	the	the	DET
cblr-1707	75	134	writings	writing	NOUN
cblr-1707	75	135	of	of	ADP
cblr-1707	75	136	albert	albert	PROPN
cblr-1707	75	137	gallatin	gallatin	PROPN
cblr-1707	75	138	231	231	NUM
cblr-1707	75	139	,	,	PUNCT
cblr-1707	75	140	267–68	267–68	NUM
cblr-1707	75	141	(	(	PUNCT
cblr-1707	75	142	henry	henry	PROPN
cblr-1707	75	143	adams	adams	PROPN
cblr-1707	75	144	ed	ed	PROPN
cblr-1707	75	145	.	.	PROPN
cblr-1707	75	146	,	,	PUNCT
cblr-1707	75	147	1879	1879	NUM
cblr-1707	75	148	)	)	PUNCT
cblr-1707	75	149	(	(	PUNCT
cblr-1707	75	150	“	"	PUNCT
cblr-1707	75	151	the	the	DET
cblr-1707	75	152	bank	bank	NOUN
cblr-1707	75	153	-	-	PUNCT
cblr-1707	75	154	notes	note	NOUN
cblr-1707	75	155	and	and	CCONJ
cblr-1707	75	156	the	the	DET
cblr-1707	75	157	deposits	deposit	NOUN
cblr-1707	75	158	rest	rest	VERB
cblr-1707	75	159	precisely	precisely	ADV
cblr-1707	75	160	on	on	ADP
cblr-1707	75	161	the	the	DET
cblr-1707	75	162	same	same	ADJ
cblr-1707	75	163	basis	basis	NOUN
cblr-1707	75	164	.	.	PUNCT
cblr-1707	75	165	.	.	PUNCT
cblr-1707	75	166	.	.	PUNCT
cblr-1707	76	1	.	.	PUNCT
cblr-1707	77	1	we	we	PRON
cblr-1707	77	2	can	can	AUX
cblr-1707	77	3	in	in	ADP
cblr-1707	77	4	no	no	DET
cblr-1707	77	5	respect	respect	NOUN
cblr-1707	77	6	whatever	whatever	DET
cblr-1707	77	7	perceive	perceive	NOUN
cblr-1707	77	8	the	the	DET
cblr-1707	77	9	slightest	slight	ADJ
cblr-1707	77	10	difference	difference	NOUN
cblr-1707	77	11	between	between	ADP
cblr-1707	77	12	the	the	DET
cblr-1707	77	13	two	two	NUM
cblr-1707	77	14	[	[	NOUN
cblr-1707	77	15	.	.	X
cblr-1707	77	16	]	]	X
cblr-1707	77	17	”	"	PUNCT
cblr-1707	77	18	)	)	PUNCT
cblr-1707	77	19	;	;	PUNCT
cblr-1707	77	20	henry	henry	PROPN
cblr-1707	77	21	dunning	dun	VERB
cblr-1707	77	22	macleod	macleod	NOUN
cblr-1707	77	23	,	,	PUNCT
cblr-1707	77	24	1	1	NUM
cblr-1707	77	25	the	the	DET
cblr-1707	77	26	theory	theory	NOUN
cblr-1707	77	27	and	and	CCONJ
cblr-1707	77	28	practice	practice	NOUN
cblr-1707	77	29	of	of	ADP
cblr-1707	77	30	banking	banking	NOUN
cblr-1707	77	31	331	331	NUM
cblr-1707	77	32	(	(	PUNCT
cblr-1707	77	33	4th	4th	ADJ
cblr-1707	77	34	ed	ed	NOUN
cblr-1707	77	35	.	.	PROPN
cblr-1707	77	36	1883	1883	NUM
cblr-1707	77	37	)	)	PUNCT
cblr-1707	77	38	(	(	PUNCT
cblr-1707	77	39	“	"	PUNCT
cblr-1707	77	40	it	it	PRON
cblr-1707	77	41	is	be	AUX
cblr-1707	77	42	.	.	PUNCT
cblr-1707	77	43	.	.	PUNCT
cblr-1707	77	44	.	.	PUNCT
cblr-1707	78	1	a	a	DET
cblr-1707	78	2	fundamental	fundamental	ADJ
cblr-1707	78	3	error	error	NOUN
cblr-1707	78	4	to	to	PART
cblr-1707	78	5	divide	divide	VERB
cblr-1707	78	6	banks	bank	NOUN
cblr-1707	78	7	into	into	ADP
cblr-1707	78	8	‘	'	PUNCT
cblr-1707	78	9	banks	bank	NOUN
cblr-1707	78	10	of	of	ADP
cblr-1707	78	11	deposit	deposit	NOUN
cblr-1707	78	12	’	'	PUNCT
cblr-1707	78	13	and	and	CCONJ
cblr-1707	78	14	‘	'	PUNCT
cblr-1707	78	15	banks	bank	NOUN
cblr-1707	78	16	of	of	ADP
cblr-1707	78	17	issue	issue	NOUN
cblr-1707	78	18	.	.	PUNCT
cblr-1707	78	19	’	'	PUNCT
cblr-1707	79	1	all	all	DET
cblr-1707	79	2	banks	bank	NOUN
cblr-1707	79	3	are	be	AUX
cblr-1707	79	4	‘	'	PUNCT
cblr-1707	79	5	banks	bank	NOUN
cblr-1707	79	6	of	of	ADP
cblr-1707	79	7	issue	issue	NOUN
cblr-1707	79	8	.	.	PUNCT
cblr-1707	79	9	’	'	PUNCT
cblr-1707	79	10	”	"	PUNCT
cblr-1707	79	11	)	)	PUNCT
cblr-1707	79	12	;	;	PUNCT
cblr-1707	79	13	schumpeter	schumpeter	NOUN
cblr-1707	79	14	,	,	PUNCT
cblr-1707	79	15	supra	supra	PROPN
cblr-1707	79	16	note	note	NOUN
cblr-1707	79	17	5	5	NUM
cblr-1707	79	18	,	,	PUNCT
cblr-1707	79	19	at	at	ADP
cblr-1707	79	20	1115	1115	NUM
cblr-1707	79	21	(	(	PUNCT
cblr-1707	79	22	“	"	PUNCT
cblr-1707	79	23	[	[	X
cblr-1707	79	24	t]he	t]he	ADV
cblr-1707	79	25	obvious	obvious	ADJ
cblr-1707	79	26	truth	truth	NOUN
cblr-1707	79	27	[	[	X
cblr-1707	79	28	is	be	AUX
cblr-1707	79	29	]	]	PUNCT
cblr-1707	79	30	that	that	SCONJ
cblr-1707	79	31	deposits	deposit	NOUN
cblr-1707	79	32	and	and	CCONJ
cblr-1707	79	33	banknotes	banknote	NOUN
cblr-1707	79	34	are	be	AUX
cblr-1707	79	35	fundamentally	fundamentally	ADV
cblr-1707	79	36	the	the	DET
cblr-1707	79	37	same	same	ADJ
cblr-1707	79	38	thing	thing	NOUN
cblr-1707	79	39	.	.	PUNCT
cblr-1707	79	40	”	"	PUNCT
cblr-1707	79	41	)	)	PUNCT
cblr-1707	79	42	;	;	PUNCT
cblr-1707	79	43	ludwig	ludwig	PROPN
cblr-1707	79	44	von	von	PROPN
cblr-1707	79	45	mises	mises	PROPN
cblr-1707	79	46	,	,	PUNCT
cblr-1707	79	47	the	the	DET
cblr-1707	79	48	theory	theory	NOUN
cblr-1707	79	49	of	of	ADP
cblr-1707	79	50	money	money	NOUN
cblr-1707	79	51	and	and	CCONJ
cblr-1707	79	52	credit	credit	NOUN
cblr-1707	79	53	53	53	NUM
cblr-1707	79	54	(	(	PUNCT
cblr-1707	79	55	h.	h.	PROPN
cblr-1707	79	56	e.	e.	PROPN
cblr-1707	79	57	batson	batson	PROPN
cblr-1707	79	58	trans	trans	PROPN
cblr-1707	79	59	.	.	PROPN
cblr-1707	79	60	,	,	PUNCT
cblr-1707	79	61	yale	yale	PROPN
cblr-1707	79	62	univ	univ	PROPN
cblr-1707	79	63	.	.	PUNCT
cblr-1707	80	1	press	press	PROPN
cblr-1707	80	2	1953	1953	NUM
cblr-1707	80	3	)	)	PUNCT
cblr-1707	80	4	(	(	PUNCT
cblr-1707	80	5	1912	1912	NUM
cblr-1707	80	6	)	)	PUNCT
cblr-1707	80	7	(	(	PUNCT
cblr-1707	80	8	“	"	PUNCT
cblr-1707	80	9	[	[	X
cblr-1707	80	10	b]anknotes	b]anknote	NOUN
cblr-1707	80	11	,	,	PUNCT
cblr-1707	80	12	say	say	VERB
cblr-1707	80	13	,	,	PUNCT
cblr-1707	80	14	and	and	CCONJ
cblr-1707	80	15	cash	cash	NOUN
cblr-1707	80	16	deposits	deposit	NOUN
cblr-1707	80	17	differ	differ	VERB
cblr-1707	80	18	only	only	ADV
cblr-1707	80	19	in	in	ADP
cblr-1707	80	20	mere	mere	ADJ
cblr-1707	80	21	externals	external	NOUN
cblr-1707	80	22	,	,	PUNCT
cblr-1707	80	23	important	important	ADJ
cblr-1707	80	24	perhaps	perhaps	ADV
cblr-1707	80	25	from	from	ADP
cblr-1707	80	26	the	the	DET
cblr-1707	80	27	business	business	NOUN
cblr-1707	80	28	and	and	CCONJ
cblr-1707	80	29	legal	legal	ADJ
cblr-1707	80	30	points	point	NOUN
cblr-1707	80	31	of	of	ADP
cblr-1707	80	32	view	view	NOUN
cblr-1707	80	33	,	,	PUNCT
cblr-1707	80	34	but	but	CCONJ
cblr-1707	80	35	quite	quite	ADV
cblr-1707	80	36	insignificant	insignificant	ADJ
cblr-1707	80	37	from	from	ADP
cblr-1707	80	38	the	the	DET
cblr-1707	80	39	point	point	NOUN
cblr-1707	80	40	of	of	ADP
cblr-1707	80	41	view	view	NOUN
cblr-1707	80	42	of	of	ADP
cblr-1707	80	43	economics	economic	NOUN
cblr-1707	80	44	.	.	PUNCT
cblr-1707	80	45	”	"	PUNCT
cblr-1707	80	46	)	)	PUNCT
cblr-1707	80	47	;	;	PUNCT
cblr-1707	80	48	charles	charles	PROPN
cblr-1707	80	49	f.	f.	PROPN
cblr-1707	80	50	dunbar	dunbar	PROPN
cblr-1707	80	51	,	,	PUNCT
cblr-1707	80	52	deposits	deposit	NOUN
cblr-1707	80	53	as	as	ADP
cblr-1707	80	54	currency	currency	NOUN
cblr-1707	80	55	,	,	PUNCT
cblr-1707	80	56	1	1	NUM
cblr-1707	80	57	q.j	q.j	PROPN
cblr-1707	80	58	.	.	PROPN
cblr-1707	80	59	econ	econ	PROPN
cblr-1707	80	60	.	.	PUNCT
cblr-1707	81	1	401	401	NUM
cblr-1707	81	2	,	,	PUNCT
cblr-1707	81	3	402	402	NUM
cblr-1707	81	4	(	(	PUNCT
cblr-1707	81	5	1887	1887	NUM
cblr-1707	81	6	)	)	PUNCT
cblr-1707	81	7	(	(	PUNCT
cblr-1707	81	8	“	"	PUNCT
cblr-1707	81	9	the	the	DET
cblr-1707	81	10	ease	ease	NOUN
cblr-1707	81	11	with	with	ADP
cblr-1707	81	12	which	which	PRON
cblr-1707	81	13	we	we	PRON
cblr-1707	81	14	ignore	ignore	VERB
cblr-1707	81	15	deposits	deposit	NOUN
cblr-1707	81	16	as	as	ADP
cblr-1707	81	17	a	a	DET
cblr-1707	81	18	part	part	NOUN
cblr-1707	81	19	of	of	ADP
cblr-1707	81	20	the	the	DET
cblr-1707	81	21	currency	currency	NOUN
cblr-1707	81	22	seems	seem	VERB
cblr-1707	81	23	the	the	PRON
cblr-1707	81	24	more	more	ADV
cblr-1707	81	25	remarkable	remarkable	ADJ
cblr-1707	81	26	,	,	PUNCT
cblr-1707	81	27	when	when	SCONJ
cblr-1707	81	28	we	we	PRON
cblr-1707	81	29	consider	consider	VERB
cblr-1707	81	30	that	that	PRON
cblr-1707	81	31	.	.	PUNCT
cblr-1707	81	32	.	.	PUNCT
cblr-1707	81	33	.	.	PUNCT
cblr-1707	82	1	it	it	PRON
cblr-1707	82	2	is	be	AUX
cblr-1707	82	3	a	a	DET
cblr-1707	82	4	circulating	circulate	VERB
cblr-1707	82	5	medium	medium	NOUN
cblr-1707	82	6	in	in	ADV
cblr-1707	82	7	as	as	ADP
cblr-1707	82	8	true	true	ADJ
cblr-1707	82	9	a	a	DET
cblr-1707	82	10	sense	sense	NOUN
cblr-1707	82	11	and	and	CCONJ
cblr-1707	82	12	in	in	ADP
cblr-1707	82	13	the	the	DET
cblr-1707	82	14	same	same	ADJ
cblr-1707	82	15	sense	sense	NOUN
cblr-1707	82	16	as	as	ADP
cblr-1707	82	17	the	the	DET
cblr-1707	82	18	bank	bank	NOUN
cblr-1707	82	19	-	-	PUNCT
cblr-1707	82	20	note	note	NOUN
cblr-1707	82	21	,	,	PUNCT
cblr-1707	82	22	and	and	CCONJ
cblr-1707	82	23	that	that	SCONJ
cblr-1707	82	24	,	,	PUNCT
cblr-1707	82	25	like	like	ADP
cblr-1707	82	26	the	the	DET
cblr-1707	82	27	bank	bank	NOUN
cblr-1707	82	28	-	-	PUNCT
cblr-1707	82	29	note	note	NOUN
cblr-1707	82	30	,	,	PUNCT
cblr-1707	82	31	it	it	PRON
cblr-1707	82	32	is	be	AUX
cblr-1707	82	33	created	create	VERB
cblr-1707	82	34	by	by	ADP
cblr-1707	82	35	the	the	DET
cblr-1707	82	36	bank	bank	NOUN
cblr-1707	82	37	and	and	CCONJ
cblr-1707	82	38	for	for	ADP
cblr-1707	82	39	the	the	DET
cblr-1707	82	40	same	same	ADJ
cblr-1707	82	41	purposes	purpose	NOUN
cblr-1707	82	42	.	.	PUNCT
cblr-1707	82	43	”	"	PUNCT
cblr-1707	82	44	)	)	PUNCT
cblr-1707	82	45	;	;	PUNCT
cblr-1707	82	46	a.	a.	PROPN
cblr-1707	82	47	mitchell	mitchell	PROPN
cblr-1707	82	48	innes	innes	PROPN
cblr-1707	82	49	,	,	PUNCT
cblr-1707	82	50	what	what	PRON
cblr-1707	82	51	is	be	AUX
cblr-1707	82	52	money	money	NOUN
cblr-1707	82	53	?	?	PUNCT
cblr-1707	82	54	,	,	PUNCT
cblr-1707	82	55	30	30	NUM
cblr-1707	82	56	banking	banking	NOUN
cblr-1707	82	57	l.j	l.j	PROPN
cblr-1707	82	58	.	.	PROPN
cblr-1707	82	59	377	377	NUM
cblr-1707	82	60	,	,	PUNCT
cblr-1707	82	61	407	407	NUM
cblr-1707	82	62	(	(	PUNCT
cblr-1707	82	63	1913	1913	NUM
cblr-1707	82	64	)	)	PUNCT
cblr-1707	82	65	(	(	PUNCT
cblr-1707	82	66	“	"	PUNCT
cblr-1707	82	67	a	a	DET
cblr-1707	82	68	bank	bank	NOUN
cblr-1707	82	69	note	note	NOUN
cblr-1707	82	70	differs	differ	VERB
cblr-1707	82	71	in	in	ADP
cblr-1707	82	72	no	no	DET
cblr-1707	82	73	essential	essential	ADJ
cblr-1707	82	74	way	way	NOUN
cblr-1707	82	75	from	from	ADP
cblr-1707	82	76	an	an	DET
cblr-1707	82	77	entry	entry	NOUN
cblr-1707	82	78	in	in	ADP
cblr-1707	82	79	the	the	DET
cblr-1707	82	80	deposit	deposit	NOUN
cblr-1707	82	81	register	register	NOUN
cblr-1707	82	82	of	of	ADP
cblr-1707	82	83	a	a	DET
cblr-1707	82	84	bank	bank	NOUN
cblr-1707	82	85	.	.	PUNCT
cblr-1707	82	86	”	"	PUNCT
cblr-1707	82	87	)	)	PUNCT
cblr-1707	82	88	.	.	PUNCT
cblr-1707	83	1	11	11	NUM
cblr-1707	83	2	see	see	VERB
cblr-1707	83	3	u.c.c	u.c.c	ADP
cblr-1707	83	4	.	.	PUNCT
cblr-1707	84	1	§	§	PROPN
cblr-1707	84	2	8	8	NUM
cblr-1707	84	3	-	-	SYM
cblr-1707	84	4	102(a)(18	102(a)(18	NUM
cblr-1707	84	5	)	)	PUNCT
cblr-1707	84	6	(	(	PUNCT
cblr-1707	84	7	am	be	AUX
cblr-1707	84	8	.	.	PUNCT
cblr-1707	84	9	law	law	NOUN
cblr-1707	84	10	inst	inst	NOUN
cblr-1707	84	11	.	.	PROPN
cblr-1707	84	12	2017	2017	NUM
cblr-1707	84	13	)	)	PUNCT
cblr-1707	84	14	(	(	PUNCT
cblr-1707	84	15	defining	define	VERB
cblr-1707	84	16	“	"	PUNCT
cblr-1707	84	17	uncertificated	uncertificated	ADJ
cblr-1707	84	18	security	security	NOUN
cblr-1707	84	19	”	"	PUNCT
cblr-1707	84	20	)	)	PUNCT
cblr-1707	84	21	.	.	PUNCT
cblr-1707	85	1	12	12	NUM
cblr-1707	85	2	this	this	PRON
cblr-1707	85	3	seems	seem	VERB
cblr-1707	85	4	to	to	PART
cblr-1707	85	5	be	be	AUX
cblr-1707	85	6	what	what	PRON
cblr-1707	85	7	perry	perry	PROPN
cblr-1707	85	8	mehrling	mehrle	VERB
cblr-1707	85	9	had	have	VERB
cblr-1707	85	10	in	in	ADP
cblr-1707	85	11	mind	mind	NOUN
cblr-1707	85	12	in	in	ADP
cblr-1707	85	13	describing	describe	VERB
cblr-1707	85	14	the	the	DET
cblr-1707	85	15	shift	shift	NOUN
cblr-1707	85	16	from	from	ADP
cblr-1707	85	17	a	a	DET
cblr-1707	85	18	“	"	PUNCT
cblr-1707	85	19	money	money	NOUN
cblr-1707	85	20	”	"	PUNCT
cblr-1707	85	21	view	view	NOUN
cblr-1707	85	22	to	to	ADP
cblr-1707	85	23	essentially	essentially	ADV
cblr-1707	85	24	a	a	DET
cblr-1707	85	25	“	"	PUNCT
cblr-1707	85	26	finance	finance	NOUN
cblr-1707	85	27	”	"	PUNCT
cblr-1707	85	28	view	view	NOUN
cblr-1707	85	29	in	in	ADP
cblr-1707	85	30	the	the	DET
cblr-1707	85	31	middle	middle	ADJ
cblr-1707	85	32	decades	decade	NOUN
cblr-1707	85	33	of	of	ADP
cblr-1707	85	34	the	the	DET
cblr-1707	85	35	twentieth	twentieth	ADJ
cblr-1707	85	36	century	century	NOUN
cblr-1707	85	37	.	.	PUNCT
cblr-1707	86	1	see	see	VERB
cblr-1707	86	2	perry	perry	PROPN
cblr-1707	86	3	mehrling	mehrling	PROPN
cblr-1707	86	4	,	,	PUNCT
cblr-1707	86	5	the	the	DET
cblr-1707	86	6	new	new	ADJ
cblr-1707	86	7	lombard	lombard	PROPN
cblr-1707	86	8	street	street	NOUN
cblr-1707	86	9	:	:	PUNCT
cblr-1707	86	10	how	how	SCONJ
cblr-1707	86	11	the	the	DET
cblr-1707	86	12	fed	fed	PROPN
cblr-1707	86	13	became	become	VERB
cblr-1707	86	14	the	the	DET
cblr-1707	86	15	dealer	dealer	NOUN
cblr-1707	86	16	of	of	ADP
cblr-1707	86	17	last	last	ADJ
cblr-1707	86	18	resort	resort	NOUN
cblr-1707	86	19	2–6	2–6	NUM
cblr-1707	86	20	(	(	PUNCT
cblr-1707	86	21	2011	2011	NUM
cblr-1707	86	22	)	)	PUNCT
cblr-1707	86	23	.	.	PUNCT
cblr-1707	87	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	87	2	762	762	NUM
cblr-1707	87	3	columbia	columbia	PROPN
cblr-1707	87	4	business	business	NOUN
cblr-1707	87	5	law	law	PROPN
cblr-1707	87	6	review	review	NOUN
cblr-1707	88	1	[	[	X
cblr-1707	88	2	vol	vol	NOUN
cblr-1707	88	3	.	.	NOUN
cblr-1707	88	4	2018	2018	NUM
cblr-1707	88	5	been	be	AUX
cblr-1707	88	6	recounted	recount	VERB
cblr-1707	88	7	elsewhere	elsewhere	ADV
cblr-1707	88	8	and	and	CCONJ
cblr-1707	88	9	need	need	AUX
cblr-1707	88	10	not	not	PART
cblr-1707	88	11	be	be	AUX
cblr-1707	88	12	repeated	repeat	VERB
cblr-1707	88	13	here.13	here.13	NOUN
cblr-1707	88	14	it	it	PRON
cblr-1707	88	15	is	be	AUX
cblr-1707	88	16	enough	enough	ADJ
cblr-1707	88	17	to	to	PART
cblr-1707	88	18	note	note	VERB
cblr-1707	88	19	that	that	SCONJ
cblr-1707	88	20	among	among	ADP
cblr-1707	88	21	its	its	PRON
cblr-1707	88	22	core	core	NOUN
cblr-1707	88	23	postulates	postulate	NOUN
cblr-1707	88	24	is	be	AUX
cblr-1707	88	25	that	that	SCONJ
cblr-1707	88	26	a	a	DET
cblr-1707	88	27	firm	firm	NOUN
cblr-1707	88	28	’s	’s	PART
cblr-1707	88	29	financing	financing	NOUN
cblr-1707	88	30	structure	structure	NOUN
cblr-1707	88	31	is	be	AUX
cblr-1707	88	32	irrelevant	irrelevant	ADJ
cblr-1707	88	33	to	to	ADP
cblr-1707	88	34	its	its	PRON
cblr-1707	88	35	value	value	NOUN
cblr-1707	88	36	,	,	PUNCT
cblr-1707	88	37	provided	provide	VERB
cblr-1707	88	38	certain	certain	ADJ
cblr-1707	88	39	conditions	condition	NOUN
cblr-1707	88	40	are	be	AUX
cblr-1707	88	41	met.14	met.14	PRON
cblr-1707	88	42	the	the	DET
cblr-1707	88	43	right	right	ADJ
cblr-1707	88	44	side	side	NOUN
cblr-1707	88	45	of	of	ADP
cblr-1707	88	46	the	the	DET
cblr-1707	88	47	balance	balance	NOUN
cblr-1707	88	48	sheet	sheet	NOUN
cblr-1707	88	49	merely	merely	ADV
cblr-1707	88	50	divvies	divvie	VERB
cblr-1707	88	51	up	up	ADP
cblr-1707	88	52	the	the	DET
cblr-1707	88	53	pie	pie	NOUN
cblr-1707	88	54	,	,	PUNCT
cblr-1707	88	55	nothing	nothing	PRON
cblr-1707	88	56	more	more	ADJ
cblr-1707	88	57	.	.	PUNCT
cblr-1707	89	1	these	these	DET
cblr-1707	89	2	ideas	idea	NOUN
cblr-1707	89	3	had	have	VERB
cblr-1707	89	4	imperial	imperial	ADJ
cblr-1707	89	5	reach	reach	NOUN
cblr-1707	89	6	,	,	PUNCT
cblr-1707	89	7	and	and	CCONJ
cblr-1707	89	8	they	they	PRON
cblr-1707	89	9	strongly	strongly	ADV
cblr-1707	89	10	influenced	influence	VERB
cblr-1707	89	11	understandings	understanding	NOUN
cblr-1707	89	12	of	of	ADP
cblr-1707	89	13	banking	banking	NOUN
cblr-1707	89	14	.	.	PUNCT
cblr-1707	90	1	by	by	ADP
cblr-1707	90	2	1963	1963	NUM
cblr-1707	90	3	,	,	PUNCT
cblr-1707	90	4	future	future	ADJ
cblr-1707	90	5	nobel	nobel	NOUN
cblr-1707	90	6	-	-	PUNCT
cblr-1707	90	7	winning	win	VERB
cblr-1707	90	8	economist	economist	NOUN
cblr-1707	90	9	james	james	PROPN
cblr-1707	90	10	tobin	tobin	PROPN
cblr-1707	90	11	,	,	PUNCT
cblr-1707	90	12	who	who	PRON
cblr-1707	90	13	had	have	AUX
cblr-1707	90	14	previously	previously	ADV
cblr-1707	90	15	applied	apply	VERB
cblr-1707	90	16	new	new	ADJ
cblr-1707	90	17	concepts	concept	NOUN
cblr-1707	90	18	from	from	ADP
cblr-1707	90	19	portfolio	portfolio	NOUN
cblr-1707	90	20	theory	theory	NOUN
cblr-1707	90	21	to	to	ADP
cblr-1707	90	22	the	the	DET
cblr-1707	90	23	analysis	analysis	NOUN
cblr-1707	90	24	of	of	ADP
cblr-1707	90	25	money	money	NOUN
cblr-1707	90	26	demand,15	demand,15	ADV
cblr-1707	90	27	was	be	AUX
cblr-1707	90	28	promoting	promote	VERB
cblr-1707	90	29	a	a	DET
cblr-1707	90	30	“	"	PUNCT
cblr-1707	90	31	new	new	ADJ
cblr-1707	90	32	view	view	NOUN
cblr-1707	90	33	”	"	PUNCT
cblr-1707	90	34	of	of	ADP
cblr-1707	90	35	banking	banking	NOUN
cblr-1707	90	36	,	,	PUNCT
cblr-1707	90	37	holding	hold	VERB
cblr-1707	90	38	that	that	SCONJ
cblr-1707	90	39	“	"	PUNCT
cblr-1707	90	40	[	[	X
cblr-1707	90	41	t]he	t]he	ADJ
cblr-1707	90	42	distinction	distinction	NOUN
cblr-1707	90	43	between	between	ADP
cblr-1707	90	44	commercial	commercial	ADJ
cblr-1707	90	45	banks	bank	NOUN
cblr-1707	90	46	and	and	CCONJ
cblr-1707	90	47	other	other	ADJ
cblr-1707	90	48	financial	financial	ADJ
cblr-1707	90	49	intermediaries	intermediary	NOUN
cblr-1707	90	50	has	have	AUX
cblr-1707	90	51	been	be	AUX
cblr-1707	90	52	too	too	ADV
cblr-1707	90	53	sharply	sharply	ADV
cblr-1707	90	54	drawn	draw	VERB
cblr-1707	90	55	.	.	PUNCT
cblr-1707	91	1	”16	”16	NOUN
cblr-1707	91	2	the	the	DET
cblr-1707	91	3	title	title	NOUN
cblr-1707	91	4	of	of	ADP
cblr-1707	91	5	his	his	PRON
cblr-1707	91	6	article	article	NOUN
cblr-1707	91	7	—	—	PUNCT
cblr-1707	91	8	commercial	commercial	ADJ
cblr-1707	91	9	banks	bank	NOUN
cblr-1707	91	10	as	as	ADP
cblr-1707	91	11	creators	creator	NOUN
cblr-1707	91	12	of	of	ADP
cblr-1707	91	13	“	"	PUNCT
cblr-1707	91	14	money	money	NOUN
cblr-1707	91	15	”	"	PUNCT
cblr-1707	91	16	(	(	PUNCT
cblr-1707	91	17	note	note	VERB
cblr-1707	91	18	the	the	DET
cblr-1707	91	19	scare	scare	NOUN
cblr-1707	91	20	quotes	quote	VERB
cblr-1707	91	21	around	around	ADP
cblr-1707	91	22	money)—says	money)—say	NOUN
cblr-1707	91	23	it	it	PRON
cblr-1707	91	24	all	all	PRON
cblr-1707	91	25	.	.	PUNCT
cblr-1707	92	1	by	by	ADP
cblr-1707	92	2	no	no	DET
cblr-1707	92	3	means	mean	NOUN
cblr-1707	92	4	did	do	AUX
cblr-1707	92	5	the	the	DET
cblr-1707	92	6	money	money	NOUN
cblr-1707	92	7	paradigm	paradigm	NOUN
cblr-1707	92	8	completely	completely	ADV
cblr-1707	92	9	disappear	disappear	VERB
cblr-1707	92	10	.	.	PUNCT
cblr-1707	93	1	textbooks	textbook	NOUN
cblr-1707	93	2	on	on	ADP
cblr-1707	93	3	macroeconomics	macroeconomic	NOUN
cblr-1707	93	4	and	and	CCONJ
cblr-1707	93	5	on	on	ADP
cblr-1707	93	6	money	money	NOUN
cblr-1707	93	7	and	and	CCONJ
cblr-1707	93	8	banking	banking	NOUN
cblr-1707	93	9	have	have	AUX
cblr-1707	93	10	continued	continue	VERB
cblr-1707	93	11	to	to	PART
cblr-1707	93	12	dutifully	dutifully	ADV
cblr-1707	93	13	describe	describe	VERB
cblr-1707	93	14	banks	bank	NOUN
cblr-1707	93	15	as	as	ADP
cblr-1707	93	16	engines	engine	NOUN
cblr-1707	93	17	of	of	ADP
cblr-1707	93	18	money	money	NOUN
cblr-1707	93	19	creation.17	creation.17	ADV
cblr-1707	93	20	but	but	CCONJ
cblr-1707	93	21	,	,	PUNCT
cblr-1707	93	22	in	in	ADP
cblr-1707	93	23	truth	truth	NOUN
cblr-1707	93	24	,	,	PUNCT
cblr-1707	93	25	this	this	PRON
cblr-1707	93	26	seems	seem	VERB
cblr-1707	93	27	to	to	PART
cblr-1707	93	28	have	have	VERB
cblr-1707	93	29	more	more	ADJ
cblr-1707	93	30	to	to	PART
cblr-1707	93	31	do	do	VERB
cblr-1707	93	32	with	with	ADP
cblr-1707	93	33	pedagogical	pedagogical	ADJ
cblr-1707	93	34	inertia	inertia	NOUN
cblr-1707	93	35	than	than	ADP
cblr-1707	93	36	with	with	ADP
cblr-1707	93	37	any	any	DET
cblr-1707	93	38	kind	kind	NOUN
cblr-1707	93	39	of	of	ADP
cblr-1707	93	40	deep	deep	ADJ
cblr-1707	93	41	disciplinary	disciplinary	ADJ
cblr-1707	93	42	commitment.18	commitment.18	NOUN
cblr-1707	93	43	tellingly	tellingly	ADV
cblr-1707	93	44	,	,	PUNCT
cblr-1707	93	45	within	within	ADP
cblr-1707	93	46	academic	academic	ADJ
cblr-1707	93	47	economics	economic	NOUN
cblr-1707	93	48	,	,	PUNCT
cblr-1707	93	49	leading	lead	VERB
cblr-1707	93	50	modern	modern	ADJ
cblr-1707	93	51	theories	theory	NOUN
cblr-1707	93	52	of	of	ADP
cblr-1707	93	53	banking	bank	VERB
cblr-1707	93	54	omit	omit	ADJ
cblr-1707	93	55	money	money	NOUN
cblr-1707	93	56	entirely.19	entirely.19	NOUN
cblr-1707	93	57	banks	bank	NOUN
cblr-1707	93	58	are	be	AUX
cblr-1707	93	59	modeled	model	VERB
cblr-1707	93	60	as	as	ADP
cblr-1707	93	61	pure	pure	ADJ
cblr-1707	93	62	intermediaries	intermediary	NOUN
cblr-1707	93	63	.	.	PUNCT
cblr-1707	94	1	it	it	PRON
cblr-1707	94	2	is	be	AUX
cblr-1707	94	3	13	13	NUM
cblr-1707	94	4	a	a	DET
cblr-1707	94	5	brief	brief	ADJ
cblr-1707	94	6	overview	overview	NOUN
cblr-1707	94	7	can	can	AUX
cblr-1707	94	8	be	be	AUX
cblr-1707	94	9	found	find	VERB
cblr-1707	94	10	in	in	ADP
cblr-1707	94	11	the	the	DET
cblr-1707	94	12	preface	preface	NOUN
cblr-1707	94	13	to	to	ADP
cblr-1707	94	14	the	the	DET
cblr-1707	94	15	2a	2a	NUM
cblr-1707	94	16	handbook	handbook	NOUN
cblr-1707	94	17	of	of	ADP
cblr-1707	94	18	the	the	DET
cblr-1707	94	19	economics	economic	NOUN
cblr-1707	94	20	of	of	ADP
cblr-1707	94	21	finance	finance	PROPN
cblr-1707	94	22	xxv	xxv	PROPN
cblr-1707	94	23	–	–	PUNCT
cblr-1707	94	24	xxxii	xxxii	PROPN
cblr-1707	94	25	(	(	PUNCT
cblr-1707	94	26	george	george	PROPN
cblr-1707	94	27	m.	m.	PROPN
cblr-1707	94	28	constantinides	constantinide	VERB
cblr-1707	94	29	,	,	PUNCT
cblr-1707	94	30	milton	milton	PROPN
cblr-1707	94	31	harris	harris	PROPN
cblr-1707	94	32	,	,	PUNCT
cblr-1707	94	33	rene	rene	PROPN
cblr-1707	94	34	stultz	stultz	PROPN
cblr-1707	94	35	eds	ed	NOUN
cblr-1707	94	36	.	.	PROPN
cblr-1707	94	37	,	,	PUNCT
cblr-1707	94	38	2013	2013	NUM
cblr-1707	94	39	)	)	PUNCT
cblr-1707	94	40	.	.	PUNCT
cblr-1707	95	1	14	14	NUM
cblr-1707	96	1	the	the	DET
cblr-1707	96	2	canonical	canonical	ADJ
cblr-1707	96	3	paper	paper	NOUN
cblr-1707	96	4	is	be	AUX
cblr-1707	96	5	franco	franco	PROPN
cblr-1707	96	6	modigliani	modigliani	PROPN
cblr-1707	96	7	&	&	CCONJ
cblr-1707	96	8	merton	merton	PROPN
cblr-1707	96	9	h.	h.	PROPN
cblr-1707	96	10	miller	miller	PROPN
cblr-1707	96	11	,	,	PUNCT
cblr-1707	96	12	the	the	DET
cblr-1707	96	13	cost	cost	NOUN
cblr-1707	96	14	of	of	ADP
cblr-1707	96	15	capital	capital	NOUN
cblr-1707	96	16	,	,	PUNCT
cblr-1707	96	17	corporation	corporation	NOUN
cblr-1707	96	18	finance	finance	NOUN
cblr-1707	96	19	and	and	CCONJ
cblr-1707	96	20	the	the	DET
cblr-1707	96	21	theory	theory	NOUN
cblr-1707	96	22	of	of	ADP
cblr-1707	96	23	investment	investment	NOUN
cblr-1707	96	24	,	,	PUNCT
cblr-1707	96	25	48	48	NUM
cblr-1707	96	26	am	am	NOUN
cblr-1707	96	27	.	.	PUNCT
cblr-1707	97	1	econ	econ	PROPN
cblr-1707	97	2	.	.	PUNCT
cblr-1707	98	1	rev	rev	PROPN
cblr-1707	98	2	.	.	PROPN
cblr-1707	98	3	261	261	NUM
cblr-1707	98	4	(	(	PUNCT
cblr-1707	98	5	1958	1958	NUM
cblr-1707	98	6	)	)	PUNCT
cblr-1707	98	7	.	.	PUNCT
cblr-1707	99	1	15	15	NUM
cblr-1707	99	2	see	see	VERB
cblr-1707	99	3	james	james	PROPN
cblr-1707	99	4	tobin	tobin	PROPN
cblr-1707	99	5	,	,	PUNCT
cblr-1707	99	6	liquidity	liquidity	NOUN
cblr-1707	99	7	preference	preference	NOUN
cblr-1707	99	8	as	as	ADP
cblr-1707	99	9	behavior	behavior	NOUN
cblr-1707	99	10	towards	towards	ADP
cblr-1707	99	11	risk	risk	NOUN
cblr-1707	99	12	,	,	PUNCT
cblr-1707	99	13	25	25	NUM
cblr-1707	99	14	rev	rev	X
cblr-1707	99	15	.	.	PROPN
cblr-1707	99	16	econ	econ	PROPN
cblr-1707	99	17	.	.	PUNCT
cblr-1707	99	18	stud	stud	PROPN
cblr-1707	99	19	.	.	PUNCT
cblr-1707	100	1	65	65	NUM
cblr-1707	100	2	,	,	PUNCT
cblr-1707	100	3	67	67	NUM
cblr-1707	100	4	(	(	PUNCT
cblr-1707	100	5	1958	1958	NUM
cblr-1707	100	6	)	)	PUNCT
cblr-1707	100	7	.	.	PUNCT
cblr-1707	101	1	16	16	NUM
cblr-1707	101	2	james	james	PROPN
cblr-1707	101	3	tobin	tobin	PROPN
cblr-1707	101	4	,	,	PUNCT
cblr-1707	101	5	commercial	commercial	ADJ
cblr-1707	101	6	banks	bank	NOUN
cblr-1707	101	7	as	as	ADP
cblr-1707	101	8	creators	creator	NOUN
cblr-1707	101	9	of	of	ADP
cblr-1707	101	10	“	"	PUNCT
cblr-1707	101	11	money	money	NOUN
cblr-1707	101	12	,	,	PUNCT
cblr-1707	101	13	”	"	PUNCT
cblr-1707	101	14	in	in	ADP
cblr-1707	101	15	banking	banking	NOUN
cblr-1707	101	16	and	and	CCONJ
cblr-1707	101	17	monetary	monetary	ADJ
cblr-1707	101	18	studies	study	NOUN
cblr-1707	101	19	408	408	NUM
cblr-1707	101	20	,	,	PUNCT
cblr-1707	101	21	410	410	NUM
cblr-1707	101	22	,	,	PUNCT
cblr-1707	101	23	418	418	NUM
cblr-1707	101	24	(	(	PUNCT
cblr-1707	101	25	deane	deane	PROPN
cblr-1707	101	26	carson	carson	PROPN
cblr-1707	101	27	ed	ed	PROPN
cblr-1707	101	28	.	.	PROPN
cblr-1707	101	29	,	,	PUNCT
cblr-1707	101	30	1963	1963	NUM
cblr-1707	101	31	)	)	PUNCT
cblr-1707	101	32	.	.	PUNCT
cblr-1707	102	1	17	17	NUM
cblr-1707	102	2	see	see	VERB
cblr-1707	102	3	,	,	PUNCT
cblr-1707	102	4	e.g.	e.g.	ADV
cblr-1707	102	5	,	,	PUNCT
cblr-1707	102	6	frederic	frederic	PROPN
cblr-1707	102	7	s.	s.	PROPN
cblr-1707	102	8	mishkin	mishkin	PROPN
cblr-1707	102	9	,	,	PUNCT
cblr-1707	102	10	the	the	DET
cblr-1707	102	11	economics	economic	NOUN
cblr-1707	102	12	of	of	ADP
cblr-1707	102	13	money	money	NOUN
cblr-1707	102	14	,	,	PUNCT
cblr-1707	102	15	banking	banking	NOUN
cblr-1707	102	16	,	,	PUNCT
cblr-1707	102	17	and	and	CCONJ
cblr-1707	102	18	financial	financial	ADJ
cblr-1707	102	19	markets	market	NOUN
cblr-1707	102	20	334–39	334–39	NUM
cblr-1707	102	21	(	(	PUNCT
cblr-1707	102	22	10th	10th	ADJ
cblr-1707	102	23	ed	ed	NOUN
cblr-1707	102	24	.	.	PROPN
cblr-1707	102	25	2013	2013	NUM
cblr-1707	102	26	)	)	PUNCT
cblr-1707	102	27	.	.	PUNCT
cblr-1707	103	1	18	18	NUM
cblr-1707	103	2	indeed	indeed	ADV
cblr-1707	103	3	,	,	PUNCT
cblr-1707	103	4	tobin	tobin	PROPN
cblr-1707	103	5	began	begin	VERB
cblr-1707	103	6	his	his	PRON
cblr-1707	103	7	essay	essay	NOUN
cblr-1707	103	8	by	by	ADP
cblr-1707	103	9	mocking	mock	VERB
cblr-1707	103	10	the	the	DET
cblr-1707	103	11	standard	standard	ADJ
cblr-1707	103	12	pedagogy	pedagogy	NOUN
cblr-1707	103	13	.	.	PUNCT
cblr-1707	104	1	see	see	VERB
cblr-1707	104	2	supra	supra	PROPN
cblr-1707	104	3	note	note	PROPN
cblr-1707	104	4	16	16	NUM
cblr-1707	104	5	,	,	PUNCT
cblr-1707	104	6	at	at	ADP
cblr-1707	104	7	408	408	NUM
cblr-1707	104	8	.	.	PUNCT
cblr-1707	105	1	19	19	NUM
cblr-1707	105	2	the	the	DET
cblr-1707	105	3	most	most	ADV
cblr-1707	105	4	influential	influential	ADJ
cblr-1707	105	5	economic	economic	ADJ
cblr-1707	105	6	model	model	NOUN
cblr-1707	105	7	of	of	ADP
cblr-1707	105	8	banking	banking	NOUN
cblr-1707	105	9	—	—	PUNCT
cblr-1707	105	10	the	the	DET
cblr-1707	105	11	diamonddybvig	diamonddybvig	NOUN
cblr-1707	105	12	model	model	NOUN
cblr-1707	105	13	—	—	PUNCT
cblr-1707	105	14	has	have	VERB
cblr-1707	105	15	no	no	DET
cblr-1707	105	16	role	role	NOUN
cblr-1707	105	17	for	for	ADP
cblr-1707	105	18	money	money	NOUN
cblr-1707	105	19	.	.	PUNCT
cblr-1707	106	1	see	see	VERB
cblr-1707	106	2	douglas	douglas	PROPN
cblr-1707	106	3	w.	w.	PROPN
cblr-1707	106	4	diamond	diamond	PROPN
cblr-1707	106	5	&	&	CCONJ
cblr-1707	106	6	philip	philip	PROPN
cblr-1707	106	7	h.	h.	PROPN
cblr-1707	106	8	dybvig	dybvig	PROPN
cblr-1707	106	9	,	,	PUNCT
cblr-1707	106	10	bank	bank	NOUN
cblr-1707	106	11	runs	run	NOUN
cblr-1707	106	12	,	,	PUNCT
cblr-1707	106	13	deposit	deposit	NOUN
cblr-1707	106	14	insurance	insurance	NOUN
cblr-1707	106	15	,	,	PUNCT
cblr-1707	106	16	and	and	CCONJ
cblr-1707	106	17	liquidity	liquidity	NOUN
cblr-1707	106	18	,	,	PUNCT
cblr-1707	106	19	91	91	NUM
cblr-1707	106	20	j.	j.	PROPN
cblr-1707	106	21	pol	pol	PROPN
cblr-1707	106	22	.	.	PUNCT
cblr-1707	107	1	econ	econ	PROPN
cblr-1707	107	2	.	.	PUNCT
cblr-1707	108	1	401	401	NUM
cblr-1707	108	2	,	,	PUNCT
cblr-1707	108	3	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	108	4	no	no	NOUN
cblr-1707	108	5	.	.	PUNCT
cblr-1707	109	1	3:757	3:757	NUM
cblr-1707	109	2	]	]	X
cblr-1707	109	3	money	money	NOUN
cblr-1707	109	4	as	as	ADP
cblr-1707	109	5	infrastructure	infrastructure	NOUN
cblr-1707	109	6	763	763	NUM
cblr-1707	109	7	against	against	ADP
cblr-1707	109	8	this	this	DET
cblr-1707	109	9	backdrop	backdrop	NOUN
cblr-1707	109	10	that	that	SCONJ
cblr-1707	109	11	two	two	NUM
cblr-1707	109	12	prominent	prominent	ADJ
cblr-1707	109	13	economists	economist	NOUN
cblr-1707	109	14	could	could	AUX
cblr-1707	109	15	recently	recently	ADV
cblr-1707	109	16	write	write	VERB
cblr-1707	109	17	that	that	SCONJ
cblr-1707	109	18	the	the	DET
cblr-1707	109	19	notion	notion	NOUN
cblr-1707	109	20	that	that	SCONJ
cblr-1707	109	21	banks	bank	NOUN
cblr-1707	109	22	“	"	PUNCT
cblr-1707	109	23	create	create	VERB
cblr-1707	109	24	money	money	NOUN
cblr-1707	109	25	.	.	PUNCT
cblr-1707	109	26	.	.	PUNCT
cblr-1707	110	1	.	.	PUNCT
cblr-1707	111	1	rests	rest	VERB
cblr-1707	111	2	on	on	ADP
cblr-1707	111	3	an	an	DET
cblr-1707	111	4	abuse	abuse	NOUN
cblr-1707	111	5	of	of	ADP
cblr-1707	111	6	the	the	DET
cblr-1707	111	7	word	word	NOUN
cblr-1707	111	8	‘	'	PUNCT
cblr-1707	111	9	money	money	NOUN
cblr-1707	111	10	.	.	PUNCT
cblr-1707	111	11	’”20	’”20	NOUN
cblr-1707	111	12	ideas	idea	NOUN
cblr-1707	111	13	about	about	ADP
cblr-1707	111	14	banking	banking	NOUN
cblr-1707	111	15	naturally	naturally	ADV
cblr-1707	111	16	influence	influence	NOUN
cblr-1707	111	17	theories	theory	NOUN
cblr-1707	111	18	of	of	ADP
cblr-1707	111	19	bank	bank	NOUN
cblr-1707	111	20	regulation	regulation	NOUN
cblr-1707	111	21	.	.	PUNCT
cblr-1707	112	1	in	in	ADP
cblr-1707	112	2	an	an	DET
cblr-1707	112	3	influential	influential	ADJ
cblr-1707	112	4	1976	1976	NUM
cblr-1707	112	5	article	article	NOUN
cblr-1707	112	6	,	,	PUNCT
cblr-1707	112	7	the	the	DET
cblr-1707	112	8	soundness	soundness	NOUN
cblr-1707	112	9	of	of	ADP
cblr-1707	112	10	financial	financial	ADJ
cblr-1707	112	11	intermediaries	intermediary	NOUN
cblr-1707	112	12	,	,	PUNCT
cblr-1707	112	13	robert	robert	PROPN
cblr-1707	112	14	clark	clark	PROPN
cblr-1707	112	15	expressed	express	VERB
cblr-1707	112	16	deep	deep	ADJ
cblr-1707	112	17	skepticism	skepticism	NOUN
cblr-1707	112	18	that	that	SCONJ
cblr-1707	112	19	banks	bank	NOUN
cblr-1707	112	20	’	'	PUNCT
cblr-1707	112	21	monetary	monetary	ADJ
cblr-1707	112	22	function	function	NOUN
cblr-1707	112	23	had	have	VERB
cblr-1707	112	24	much	much	ADJ
cblr-1707	112	25	if	if	SCONJ
cblr-1707	112	26	anything	anything	PRON
cblr-1707	112	27	to	to	PART
cblr-1707	112	28	do	do	VERB
cblr-1707	112	29	with	with	ADP
cblr-1707	112	30	their	their	PRON
cblr-1707	112	31	regulation.21	regulation.21	NOUN
cblr-1707	112	32	the	the	DET
cblr-1707	112	33	article	article	NOUN
cblr-1707	112	34	’s	’s	PART
cblr-1707	112	35	title	title	NOUN
cblr-1707	112	36	leaves	leave	VERB
cblr-1707	112	37	no	no	DET
cblr-1707	112	38	doubt	doubt	NOUN
cblr-1707	112	39	as	as	ADP
cblr-1707	112	40	to	to	AUX
cblr-1707	112	41	which	which	DET
cblr-1707	112	42	paradigm	paradigm	NOUN
cblr-1707	112	43	it	it	PRON
cblr-1707	112	44	adopts	adopt	VERB
cblr-1707	112	45	.	.	PUNCT
cblr-1707	113	1	not	not	PART
cblr-1707	113	2	long	long	ADV
cblr-1707	113	3	thereafter	thereafter	ADV
cblr-1707	113	4	,	,	PUNCT
cblr-1707	113	5	regulators	regulator	NOUN
cblr-1707	113	6	followed	follow	VERB
cblr-1707	113	7	suit	suit	NOUN
cblr-1707	113	8	.	.	PUNCT
cblr-1707	114	1	in	in	ADP
cblr-1707	114	2	1987	1987	NUM
cblr-1707	114	3	,	,	PUNCT
cblr-1707	114	4	as	as	ADP
cblr-1707	114	5	part	part	NOUN
cblr-1707	114	6	of	of	ADP
cblr-1707	114	7	a	a	DET
cblr-1707	114	8	general	general	ADJ
cblr-1707	114	9	deregulatory	deregulatory	ADJ
cblr-1707	114	10	trend	trend	NOUN
cblr-1707	114	11	,	,	PUNCT
cblr-1707	114	12	the	the	DET
cblr-1707	114	13	primary	primary	ADJ
cblr-1707	114	14	u.s	u.s	PROPN
cblr-1707	114	15	.	.	PROPN
cblr-1707	114	16	federal	federal	ADJ
cblr-1707	114	17	banking	banking	NOUN
cblr-1707	114	18	regulator	regulator	NOUN
cblr-1707	114	19	stated	state	VERB
cblr-1707	114	20	that	that	SCONJ
cblr-1707	114	21	it	it	PRON
cblr-1707	114	22	was	be	AUX
cblr-1707	114	23	moving	move	VERB
cblr-1707	114	24	beyond	beyond	ADP
cblr-1707	114	25	the	the	DET
cblr-1707	114	26	“	"	PUNCT
cblr-1707	114	27	textbook	textbook	NOUN
cblr-1707	114	28	sense	sense	NOUN
cblr-1707	114	29	”	"	PUNCT
cblr-1707	114	30	of	of	ADP
cblr-1707	114	31	banking	banking	NOUN
cblr-1707	114	32	—	—	PUNCT
cblr-1707	114	33	what	what	PRON
cblr-1707	114	34	this	this	DET
cblr-1707	114	35	article	article	NOUN
cblr-1707	114	36	calls	call	VERB
cblr-1707	114	37	the	the	DET
cblr-1707	114	38	money	money	NOUN
cblr-1707	114	39	paradigm	paradigm	NOUN
cblr-1707	114	40	—	—	PUNCT
cblr-1707	114	41	and	and	CCONJ
cblr-1707	114	42	toward	toward	ADP
cblr-1707	114	43	a	a	DET
cblr-1707	114	44	“	"	PUNCT
cblr-1707	114	45	modern	modern	ADJ
cblr-1707	114	46	concept	concept	NOUN
cblr-1707	114	47	of	of	ADP
cblr-1707	114	48	banking	banking	NOUN
cblr-1707	114	49	as	as	ADP
cblr-1707	114	50	funds	fund	NOUN
cblr-1707	114	51	intermediation	intermediation	NOUN
cblr-1707	114	52	.	.	PUNCT
cblr-1707	115	1	”22	”22	NOUN
cblr-1707	115	2	in	in	ADP
cblr-1707	115	3	the	the	DET
cblr-1707	115	4	years	year	NOUN
cblr-1707	115	5	since	since	SCONJ
cblr-1707	115	6	the	the	DET
cblr-1707	115	7	global	global	ADJ
cblr-1707	115	8	financial	financial	ADJ
cblr-1707	115	9	crisis	crisis	NOUN
cblr-1707	115	10	of	of	ADP
cblr-1707	115	11	2007–2009	2007–2009	NUM
cblr-1707	115	12	,	,	PUNCT
cblr-1707	115	13	though	though	ADV
cblr-1707	115	14	,	,	PUNCT
cblr-1707	115	15	the	the	DET
cblr-1707	115	16	money	money	NOUN
cblr-1707	115	17	paradigm	paradigm	NOUN
cblr-1707	115	18	has	have	AUX
cblr-1707	115	19	enjoyed	enjoy	VERB
cblr-1707	115	20	something	something	PRON
cblr-1707	115	21	of	of	ADP
cblr-1707	115	22	a	a	DET
cblr-1707	115	23	402–05	402–05	PROPN
cblr-1707	115	24	(	(	PUNCT
cblr-1707	115	25	1983	1983	NUM
cblr-1707	115	26	)	)	PUNCT
cblr-1707	115	27	.	.	PUNCT
cblr-1707	116	1	critics	critic	NOUN
cblr-1707	116	2	have	have	AUX
cblr-1707	116	3	noted	note	VERB
cblr-1707	116	4	that	that	SCONJ
cblr-1707	116	5	in	in	ADP
cblr-1707	116	6	the	the	DET
cblr-1707	116	7	diamond	diamond	NOUN
cblr-1707	116	8	-	-	PUNCT
cblr-1707	116	9	dybvig	dybvig	NOUN
cblr-1707	116	10	model	model	NOUN
cblr-1707	116	11	,	,	PUNCT
cblr-1707	116	12	“	"	PUNCT
cblr-1707	116	13	agents	agent	NOUN
cblr-1707	116	14	are	be	AUX
cblr-1707	116	15	essentially	essentially	ADV
cblr-1707	116	16	isolated	isolate	VERB
cblr-1707	116	17	from	from	ADP
cblr-1707	116	18	each	each	DET
cblr-1707	116	19	other	other	ADJ
cblr-1707	116	20	;	;	PUNCT
cblr-1707	116	21	there	there	PRON
cblr-1707	116	22	is	be	VERB
cblr-1707	116	23	no	no	DET
cblr-1707	116	24	trade	trade	NOUN
cblr-1707	116	25	with	with	ADP
cblr-1707	116	26	other	other	ADJ
cblr-1707	116	27	agents	agent	NOUN
cblr-1707	116	28	where	where	SCONJ
cblr-1707	116	29	‘	'	PUNCT
cblr-1707	116	30	money	money	NOUN
cblr-1707	116	31	’	'	PUNCT
cblr-1707	116	32	buys	buy	VERB
cblr-1707	116	33	goods	good	NOUN
cblr-1707	116	34	.	.	PUNCT
cblr-1707	116	35	.	.	PUNCT
cblr-1707	116	36	.	.	PUNCT
cblr-1707	116	37	.	.	PUNCT
cblr-1707	117	1	agents	agent	NOUN
cblr-1707	117	2	trade	trade	VERB
cblr-1707	117	3	only	only	ADV
cblr-1707	117	4	with	with	ADP
cblr-1707	117	5	the	the	DET
cblr-1707	117	6	bank	bank	NOUN
cblr-1707	117	7	.	.	PUNCT
cblr-1707	117	8	”	"	PUNCT
cblr-1707	118	1	gary	gary	PROPN
cblr-1707	118	2	gorton	gorton	PROPN
cblr-1707	118	3	&	&	CCONJ
cblr-1707	118	4	andrew	andrew	PROPN
cblr-1707	118	5	winton	winton	PROPN
cblr-1707	118	6	,	,	PUNCT
cblr-1707	118	7	financial	financial	ADJ
cblr-1707	118	8	intermediation	intermediation	NOUN
cblr-1707	118	9	,	,	PUNCT
cblr-1707	118	10	in	in	ADP
cblr-1707	118	11	1	1	NUM
cblr-1707	118	12	a	a	DET
cblr-1707	118	13	handbook	handbook	NOUN
cblr-1707	118	14	of	of	ADP
cblr-1707	118	15	the	the	DET
cblr-1707	118	16	economics	economic	NOUN
cblr-1707	118	17	of	of	ADP
cblr-1707	118	18	finance	finance	NOUN
cblr-1707	118	19	431	431	NUM
cblr-1707	118	20	,	,	PUNCT
cblr-1707	118	21	453	453	NUM
cblr-1707	118	22	(	(	PUNCT
cblr-1707	118	23	george	george	PROPN
cblr-1707	118	24	m.	m.	NOUN
cblr-1707	118	25	constantinides	constantinide	VERB
cblr-1707	118	26	,	,	PUNCT
cblr-1707	118	27	milton	milton	PROPN
cblr-1707	118	28	harris	harris	PROPN
cblr-1707	118	29	,	,	PUNCT
cblr-1707	118	30	rene	rene	PROPN
cblr-1707	118	31	stultz	stultz	PROPN
cblr-1707	118	32	eds	ed	NOUN
cblr-1707	118	33	.	.	PROPN
cblr-1707	118	34	,	,	PUNCT
cblr-1707	118	35	2003	2003	NUM
cblr-1707	118	36	)	)	PUNCT
cblr-1707	118	37	.	.	PUNCT
cblr-1707	119	1	another	another	DET
cblr-1707	119	2	leading	lead	VERB
cblr-1707	119	3	theory	theory	NOUN
cblr-1707	119	4	of	of	ADP
cblr-1707	119	5	banking	banking	NOUN
cblr-1707	119	6	—	—	PUNCT
cblr-1707	119	7	the	the	DET
cblr-1707	119	8	calomiris	calomiris	PROPN
cblr-1707	119	9	-	-	PUNCT
cblr-1707	119	10	kahn	kahn	PROPN
cblr-1707	119	11	theory	theory	NOUN
cblr-1707	119	12	—	—	PUNCT
cblr-1707	119	13	explicitly	explicitly	ADV
cblr-1707	119	14	posits	posit	NOUN
cblr-1707	119	15	that	that	SCONJ
cblr-1707	119	16	“	"	PUNCT
cblr-1707	119	17	liquidity	liquidity	NOUN
cblr-1707	119	18	demand	demand	NOUN
cblr-1707	119	19	is	be	AUX
cblr-1707	119	20	absent	absent	ADJ
cblr-1707	119	21	”	"	PUNCT
cblr-1707	119	22	and	and	CCONJ
cblr-1707	119	23	“	"	PUNCT
cblr-1707	119	24	there	there	PRON
cblr-1707	119	25	is	be	VERB
cblr-1707	119	26	no	no	DET
cblr-1707	119	27	demand	demand	NOUN
cblr-1707	119	28	for	for	ADP
cblr-1707	119	29	transactability	transactability	NOUN
cblr-1707	119	30	.	.	PUNCT
cblr-1707	119	31	”	"	PUNCT
cblr-1707	120	1	charles	charles	PROPN
cblr-1707	120	2	w.	w.	PROPN
cblr-1707	120	3	calomiris	calomiris	PROPN
cblr-1707	120	4	&	&	CCONJ
cblr-1707	120	5	charles	charles	PROPN
cblr-1707	120	6	m.	m.	PROPN
cblr-1707	120	7	kahn	kahn	PROPN
cblr-1707	120	8	,	,	PUNCT
cblr-1707	120	9	the	the	DET
cblr-1707	120	10	role	role	NOUN
cblr-1707	120	11	of	of	ADP
cblr-1707	120	12	demandable	demandable	ADJ
cblr-1707	120	13	debt	debt	NOUN
cblr-1707	120	14	in	in	ADP
cblr-1707	120	15	structuring	structure	VERB
cblr-1707	120	16	optimal	optimal	ADJ
cblr-1707	120	17	banking	banking	NOUN
cblr-1707	120	18	arrangements	arrangement	NOUN
cblr-1707	120	19	,	,	PUNCT
cblr-1707	120	20	81	81	NUM
cblr-1707	120	21	am	am	NOUN
cblr-1707	120	22	.	.	PUNCT
cblr-1707	121	1	econ	econ	PROPN
cblr-1707	121	2	.	.	PUNCT
cblr-1707	122	1	rev	rev	PROPN
cblr-1707	122	2	.	.	PROPN
cblr-1707	122	3	497	497	NUM
cblr-1707	122	4	,	,	PUNCT
cblr-1707	122	5	500	500	NUM
cblr-1707	122	6	n.8	n.8	NOUN
cblr-1707	122	7	,	,	PUNCT
cblr-1707	122	8	508	508	NUM
cblr-1707	122	9	(	(	PUNCT
cblr-1707	122	10	1991	1991	NUM
cblr-1707	122	11	)	)	PUNCT
cblr-1707	122	12	.	.	PUNCT
cblr-1707	123	1	for	for	ADP
cblr-1707	123	2	a	a	DET
cblr-1707	123	3	more	more	ADV
cblr-1707	123	4	extensive	extensive	ADJ
cblr-1707	123	5	treatment	treatment	NOUN
cblr-1707	123	6	of	of	ADP
cblr-1707	123	7	the	the	DET
cblr-1707	123	8	relevant	relevant	ADJ
cblr-1707	123	9	economic	economic	ADJ
cblr-1707	123	10	literature	literature	NOUN
cblr-1707	123	11	,	,	PUNCT
cblr-1707	123	12	see	see	VERB
cblr-1707	123	13	morgan	morgan	PROPN
cblr-1707	123	14	ricks	ricks	PROPN
cblr-1707	123	15	,	,	PUNCT
cblr-1707	123	16	the	the	DET
cblr-1707	123	17	money	money	NOUN
cblr-1707	123	18	problem	problem	NOUN
cblr-1707	123	19	:	:	PUNCT
cblr-1707	123	20	rethinking	rethink	VERB
cblr-1707	123	21	financial	financial	ADJ
cblr-1707	123	22	regulation	regulation	NOUN
cblr-1707	123	23	81–90	81–90	NUM
cblr-1707	123	24	(	(	PUNCT
cblr-1707	123	25	2016	2016	NUM
cblr-1707	123	26	)	)	PUNCT
cblr-1707	123	27	.	.	PUNCT
cblr-1707	124	1	20	20	NUM
cblr-1707	124	2	anat	anat	PROPN
cblr-1707	124	3	admati	admati	PROPN
cblr-1707	124	4	&	&	CCONJ
cblr-1707	124	5	martin	martin	PROPN
cblr-1707	124	6	hellwig	hellwig	PROPN
cblr-1707	124	7	,	,	PUNCT
cblr-1707	124	8	the	the	DET
cblr-1707	124	9	parade	parade	NOUN
cblr-1707	124	10	of	of	ADP
cblr-1707	124	11	bankers	banker	NOUN
cblr-1707	124	12	’	'	PUNCT
cblr-1707	124	13	new	new	ADJ
cblr-1707	124	14	clothes	clothe	NOUN
cblr-1707	124	15	continues	continue	VERB
cblr-1707	124	16	:	:	PUNCT
cblr-1707	124	17	31	31	NUM
cblr-1707	124	18	flawed	flaw	VERB
cblr-1707	124	19	claims	claim	NOUN
cblr-1707	124	20	debunked	debunk	VERB
cblr-1707	124	21	8	8	NUM
cblr-1707	124	22	(	(	PUNCT
cblr-1707	124	23	rock	rock	PROPN
cblr-1707	124	24	ctr	ctr	PROPN
cblr-1707	124	25	.	.	PROPN
cblr-1707	125	1	for	for	ADP
cblr-1707	125	2	corp	corp	PROPN
cblr-1707	125	3	.	.	PROPN
cblr-1707	125	4	governance	governance	PROPN
cblr-1707	125	5	at	at	ADP
cblr-1707	125	6	stanford	stanford	PROPN
cblr-1707	125	7	univ	univ	PROPN
cblr-1707	125	8	.	.	PROPN
cblr-1707	125	9	,	,	PUNCT
cblr-1707	125	10	working	work	VERB
cblr-1707	125	11	paper	paper	NOUN
cblr-1707	125	12	no	no	INTJ
cblr-1707	125	13	.	.	PROPN
cblr-1707	125	14	143	143	NUM
cblr-1707	125	15	,	,	PUNCT
cblr-1707	125	16	2015	2015	NUM
cblr-1707	125	17	)	)	PUNCT
cblr-1707	125	18	;	;	PUNCT
cblr-1707	126	1	cf	cf	X
cblr-1707	126	2	.	.	PUNCT
cblr-1707	127	1	paul	paul	PROPN
cblr-1707	127	2	krugman	krugman	PROPN
cblr-1707	127	3	,	,	PUNCT
cblr-1707	127	4	opinion	opinion	NOUN
cblr-1707	127	5	,	,	PUNCT
cblr-1707	127	6	if	if	SCONJ
cblr-1707	127	7	banks	bank	NOUN
cblr-1707	127	8	are	be	AUX
cblr-1707	127	9	outlawed	outlaw	VERB
cblr-1707	127	10	,	,	PUNCT
cblr-1707	127	11	only	only	ADV
cblr-1707	127	12	outlaws	outlaw	NOUN
cblr-1707	127	13	will	will	AUX
cblr-1707	127	14	have	have	VERB
cblr-1707	127	15	banks	bank	NOUN
cblr-1707	127	16	,	,	PUNCT
cblr-1707	127	17	n.y	n.y	PROPN
cblr-1707	127	18	.	.	PROPN
cblr-1707	127	19	times	times	PROPN
cblr-1707	127	20	,	,	PUNCT
cblr-1707	127	21	oct	oct	PROPN
cblr-1707	127	22	.	.	PROPN
cblr-1707	127	23	10	10	NUM
cblr-1707	127	24	,	,	PUNCT
cblr-1707	127	25	2011	2011	NUM
cblr-1707	127	26	,	,	PUNCT
cblr-1707	127	27	https://krugman.blogs.nytimes.com/2011/10/10/ifbanks-are-outlawed-only-outlaws-will-have-banks	https://krugman.blogs.nytimes.com/2011/10/10/ifbanks-are-outlawed-only-outlaws-will-have-bank	NOUN
cblr-1707	127	28	[	[	X
cblr-1707	127	29	https://perma.cc/k55d9ewv	https://perma.cc/k55d9ewv	X
cblr-1707	127	30	]	]	X
cblr-1707	127	31	(	(	PUNCT
cblr-1707	127	32	“	"	PUNCT
cblr-1707	127	33	[	[	X
cblr-1707	127	34	w]hat	w]hat	ADP
cblr-1707	127	35	banks	bank	NOUN
cblr-1707	127	36	do	do	AUX
cblr-1707	127	37	.	.	PUNCT
cblr-1707	127	38	.	.	PUNCT
cblr-1707	127	39	.	.	PUNCT
cblr-1707	127	40	.	.	PUNCT
cblr-1707	128	1	[	[	X
cblr-1707	128	2	is	be	AUX
cblr-1707	128	3	]	]	PUNCT
cblr-1707	128	4	not	not	PART
cblr-1707	128	5	mostly	mostly	ADV
cblr-1707	128	6	about	about	ADP
cblr-1707	128	7	money	money	NOUN
cblr-1707	128	8	creation	creation	NOUN
cblr-1707	128	9	!	!	PUNCT
cblr-1707	128	10	”	"	PUNCT
cblr-1707	128	11	)	)	PUNCT
cblr-1707	128	12	.	.	PUNCT
cblr-1707	129	1	21	21	NUM
cblr-1707	129	2	see	see	VERB
cblr-1707	129	3	robert	robert	PROPN
cblr-1707	129	4	charles	charles	PROPN
cblr-1707	129	5	clark	clark	PROPN
cblr-1707	129	6	,	,	PUNCT
cblr-1707	129	7	the	the	DET
cblr-1707	129	8	soundness	soundness	NOUN
cblr-1707	129	9	of	of	ADP
cblr-1707	129	10	financial	financial	ADJ
cblr-1707	129	11	intermediaries	intermediary	NOUN
cblr-1707	129	12	,	,	PUNCT
cblr-1707	129	13	86	86	NUM
cblr-1707	129	14	yale	yale	PROPN
cblr-1707	129	15	l.j	l.j	PROPN
cblr-1707	129	16	.	.	PROPN
cblr-1707	129	17	1	1	NUM
cblr-1707	129	18	,	,	PUNCT
cblr-1707	129	19	23–26	23–26	NUM
cblr-1707	129	20	(	(	PUNCT
cblr-1707	129	21	1976	1976	NUM
cblr-1707	129	22	)	)	PUNCT
cblr-1707	129	23	.	.	PUNCT
cblr-1707	130	1	22	22	NUM
cblr-1707	130	2	office	office	NOUN
cblr-1707	130	3	of	of	ADP
cblr-1707	130	4	the	the	DET
cblr-1707	130	5	comptroller	comptroller	NOUN
cblr-1707	130	6	of	of	ADP
cblr-1707	130	7	the	the	DET
cblr-1707	130	8	currency	currency	NOUN
cblr-1707	130	9	,	,	PUNCT
cblr-1707	130	10	no	no	DET
cblr-1707	130	11	-	-	PUNCT
cblr-1707	130	12	objection	objection	NOUN
cblr-1707	130	13	letter	letter	NOUN
cblr-1707	130	14	no	no	INTJ
cblr-1707	130	15	.	.	PUNCT
cblr-1707	131	1	87	87	NUM
cblr-1707	131	2	-	-	SYM
cblr-1707	131	3	5	5	NUM
cblr-1707	131	4	,	,	PUNCT
cblr-1707	131	5	at	at	ADP
cblr-1707	131	6	*	*	PROPN
cblr-1707	131	7	5,1987	5,1987	NOUN
cblr-1707	131	8	wl	wl	X
cblr-1707	131	9	267920	267920	NUM
cblr-1707	131	10	(	(	PUNCT
cblr-1707	131	11	july	july	PROPN
cblr-1707	131	12	20	20	NUM
cblr-1707	131	13	,	,	PUNCT
cblr-1707	131	14	1987	1987	NUM
cblr-1707	131	15	)	)	PUNCT
cblr-1707	131	16	.	.	PUNCT
cblr-1707	132	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	132	2	764	764	NUM
cblr-1707	132	3	columbia	columbia	PROPN
cblr-1707	132	4	business	business	NOUN
cblr-1707	132	5	law	law	PROPN
cblr-1707	132	6	review	review	NOUN
cblr-1707	133	1	[	[	X
cblr-1707	133	2	vol	vol	NOUN
cblr-1707	133	3	.	.	PUNCT
cblr-1707	133	4	2018	2018	NUM
cblr-1707	133	5	resurgence	resurgence	NOUN
cblr-1707	133	6	.	.	PUNCT
cblr-1707	134	1	strangely	strangely	ADV
cblr-1707	134	2	enough	enough	ADV
cblr-1707	134	3	,	,	PUNCT
cblr-1707	134	4	the	the	DET
cblr-1707	134	5	locus	locus	NOUN
cblr-1707	134	6	of	of	ADP
cblr-1707	134	7	this	this	DET
cblr-1707	134	8	counteroffensive	counteroffensive	NOUN
cblr-1707	134	9	has	have	AUX
cblr-1707	134	10	been	be	AUX
cblr-1707	134	11	not	not	PART
cblr-1707	134	12	the	the	DET
cblr-1707	134	13	banking	banking	NOUN
cblr-1707	134	14	system	system	NOUN
cblr-1707	134	15	proper	proper	ADJ
cblr-1707	134	16	but	but	CCONJ
cblr-1707	134	17	the	the	DET
cblr-1707	134	18	so	so	ADV
cblr-1707	134	19	-	-	PUNCT
cblr-1707	134	20	called	call	VERB
cblr-1707	134	21	“	"	PUNCT
cblr-1707	134	22	shadow	shadow	NOUN
cblr-1707	134	23	”	"	PUNCT
cblr-1707	134	24	banking	banking	NOUN
cblr-1707	134	25	system	system	NOUN
cblr-1707	134	26	.	.	PUNCT
cblr-1707	135	1	experts	expert	NOUN
cblr-1707	135	2	define	define	VERB
cblr-1707	135	3	shadow	shadow	NOUN
cblr-1707	135	4	banking	banking	NOUN
cblr-1707	135	5	in	in	ADP
cblr-1707	135	6	different	different	ADJ
cblr-1707	135	7	ways	way	NOUN
cblr-1707	135	8	,	,	PUNCT
cblr-1707	135	9	but	but	CCONJ
cblr-1707	135	10	pretty	pretty	ADV
cblr-1707	135	11	much	much	ADV
cblr-1707	135	12	everyone	everyone	PRON
cblr-1707	135	13	agrees	agree	VERB
cblr-1707	135	14	that	that	SCONJ
cblr-1707	135	15	heavy	heavy	ADJ
cblr-1707	135	16	reliance	reliance	NOUN
cblr-1707	135	17	on	on	ADP
cblr-1707	135	18	short	short	ADJ
cblr-1707	135	19	-	-	PUNCT
cblr-1707	135	20	term	term	NOUN
cblr-1707	135	21	debt	debt	NOUN
cblr-1707	135	22	is	be	AUX
cblr-1707	135	23	a	a	DET
cblr-1707	135	24	big	big	ADJ
cblr-1707	135	25	part	part	NOUN
cblr-1707	135	26	of	of	ADP
cblr-1707	135	27	it.23	it.23	PROPN
cblr-1707	135	28	in	in	ADP
cblr-1707	135	29	other	other	ADJ
cblr-1707	135	30	words	word	NOUN
cblr-1707	135	31	,	,	PUNCT
cblr-1707	135	32	shadow	shadow	NOUN
cblr-1707	135	33	banking	banking	NOUN
cblr-1707	135	34	involves	involve	VERB
cblr-1707	135	35	a	a	DET
cblr-1707	135	36	particular	particular	ADJ
cblr-1707	135	37	liability	liability	NOUN
cblr-1707	135	38	structure	structure	NOUN
cblr-1707	135	39	.	.	PUNCT
cblr-1707	136	1	and	and	CCONJ
cblr-1707	136	2	leading	lead	VERB
cblr-1707	136	3	authorities	authority	NOUN
cblr-1707	136	4	have	have	AUX
cblr-1707	136	5	begun	begin	VERB
cblr-1707	136	6	to	to	PART
cblr-1707	136	7	emphasize	emphasize	VERB
cblr-1707	136	8	that	that	SCONJ
cblr-1707	136	9	the	the	DET
cblr-1707	136	10	financial	financial	ADJ
cblr-1707	136	11	sector	sector	NOUN
cblr-1707	136	12	’s	’s	PART
cblr-1707	136	13	short	short	ADJ
cblr-1707	136	14	-	-	PUNCT
cblr-1707	136	15	term	term	NOUN
cblr-1707	136	16	debt	debt	NOUN
cblr-1707	136	17	has	have	VERB
cblr-1707	136	18	a	a	DET
cblr-1707	136	19	distinctly	distinctly	ADV
cblr-1707	136	20	monetary	monetary	ADJ
cblr-1707	136	21	character.24	character.24	NOUN
cblr-1707	136	22	gary	gary	PROPN
cblr-1707	136	23	gorton	gorton	PROPN
cblr-1707	136	24	,	,	PUNCT
cblr-1707	136	25	a	a	DET
cblr-1707	136	26	leader	leader	NOUN
cblr-1707	136	27	in	in	ADP
cblr-1707	136	28	this	this	DET
cblr-1707	136	29	field	field	NOUN
cblr-1707	136	30	,	,	PUNCT
cblr-1707	136	31	refers	refer	VERB
cblr-1707	136	32	to	to	ADP
cblr-1707	136	33	various	various	ADJ
cblr-1707	136	34	types	type	NOUN
cblr-1707	136	35	of	of	ADP
cblr-1707	136	36	financial	financial	ADJ
cblr-1707	136	37	sector	sector	NOUN
cblr-1707	136	38	short	short	ADJ
cblr-1707	136	39	-	-	PUNCT
cblr-1707	136	40	term	term	NOUN
cblr-1707	136	41	debt	debt	NOUN
cblr-1707	136	42	as	as	ADP
cblr-1707	136	43	“	"	PUNCT
cblr-1707	136	44	forms	form	NOUN
cblr-1707	136	45	of	of	ADP
cblr-1707	136	46	money	money	NOUN
cblr-1707	136	47	”	"	PUNCT
cblr-1707	136	48	and	and	CCONJ
cblr-1707	136	49	“	"	PUNCT
cblr-1707	136	50	private	private	ADJ
cblr-1707	136	51	money	money	NOUN
cblr-1707	136	52	.	.	PUNCT
cblr-1707	137	1	”25	”25	PROPN
cblr-1707	137	2	harvard	harvard	PROPN
cblr-1707	137	3	economist	economist	NOUN
cblr-1707	137	4	and	and	CCONJ
cblr-1707	137	5	former	former	ADJ
cblr-1707	137	6	federal	federal	PROPN
cblr-1707	137	7	reserve	reserve	PROPN
cblr-1707	137	8	governor	governor	PROPN
cblr-1707	137	9	jeremy	jeremy	PROPN
cblr-1707	137	10	stein	stein	PROPN
cblr-1707	137	11	says	say	VERB
cblr-1707	137	12	that	that	SCONJ
cblr-1707	137	13	the	the	DET
cblr-1707	137	14	financial	financial	ADJ
cblr-1707	137	15	sector	sector	NOUN
cblr-1707	137	16	’s	’s	PART
cblr-1707	137	17	short	short	ADJ
cblr-1707	137	18	-	-	PUNCT
cblr-1707	137	19	term	term	NOUN
cblr-1707	137	20	debt	debt	NOUN
cblr-1707	137	21	obligations	obligation	NOUN
cblr-1707	137	22	are	be	AUX
cblr-1707	137	23	“	"	PUNCT
cblr-1707	137	24	private	private	ADJ
cblr-1707	137	25	‘	'	PUNCT
cblr-1707	137	26	money	money	NOUN
cblr-1707	137	27	’	'	PUNCT
cblr-1707	137	28	”	"	PUNCT
cblr-1707	137	29	and	and	CCONJ
cblr-1707	137	30	offer	offer	VERB
cblr-1707	137	31	“	"	PUNCT
cblr-1707	137	32	monetary	monetary	ADJ
cblr-1707	137	33	services	service	NOUN
cblr-1707	137	34	.	.	PUNCT
cblr-1707	138	1	”26	”26	PROPN
cblr-1707	138	2	john	john	PROPN
cblr-1707	138	3	cochrane	cochrane	PROPN
cblr-1707	138	4	,	,	PUNCT
cblr-1707	138	5	a	a	DET
cblr-1707	138	6	top	top	ADJ
cblr-1707	138	7	finance	finance	NOUN
cblr-1707	138	8	and	and	CCONJ
cblr-1707	138	9	macroeconomic	macroeconomic	ADJ
cblr-1707	138	10	specialist	specialist	NOUN
cblr-1707	138	11	,	,	PUNCT
cblr-1707	138	12	notes	note	VERB
cblr-1707	138	13	“	"	PUNCT
cblr-1707	138	14	short	short	ADJ
cblr-1707	138	15	-	-	PUNCT
cblr-1707	138	16	term	term	NOUN
cblr-1707	138	17	debt	debt	NOUN
cblr-1707	138	18	is	be	AUX
cblr-1707	138	19	money	money	NOUN
cblr-1707	138	20	.	.	PUNCT
cblr-1707	139	1	”27	”27	ADJ
cblr-1707	139	2	policymakers	policymaker	NOUN
cblr-1707	139	3	have	have	AUX
cblr-1707	139	4	taken	take	VERB
cblr-1707	139	5	note	note	NOUN
cblr-1707	139	6	.	.	PUNCT
cblr-1707	140	1	in	in	ADP
cblr-1707	140	2	a	a	DET
cblr-1707	140	3	2016	2016	NUM
cblr-1707	140	4	speech	speech	NOUN
cblr-1707	140	5	,	,	PUNCT
cblr-1707	140	6	daniel	daniel	PROPN
cblr-1707	140	7	tarullo	tarullo	PROPN
cblr-1707	140	8	,	,	PUNCT
cblr-1707	140	9	who	who	PRON
cblr-1707	140	10	was	be	AUX
cblr-1707	140	11	then	then	ADV
cblr-1707	140	12	on	on	ADP
cblr-1707	140	13	the	the	DET
cblr-1707	140	14	federal	federal	PROPN
cblr-1707	140	15	reserve	reserve	PROPN
cblr-1707	140	16	board	board	PROPN
cblr-1707	140	17	,	,	PUNCT
cblr-1707	140	18	observed	observe	VERB
cblr-1707	140	19	that	that	SCONJ
cblr-1707	140	20	such	such	ADJ
cblr-1707	140	21	short	short	ADJ
cblr-1707	140	22	-	-	PUNCT
cblr-1707	140	23	term	term	NOUN
cblr-1707	140	24	debt	debt	NOUN
cblr-1707	140	25	instruments	instrument	NOUN
cblr-1707	140	26	exhibit	exhibit	VERB
cblr-1707	140	27	“	"	PUNCT
cblr-1707	140	28	features	feature	VERB
cblr-1707	140	29	23	23	NUM
cblr-1707	140	30	see	see	NOUN
cblr-1707	140	31	,	,	PUNCT
cblr-1707	140	32	e.g.	e.g.	ADV
cblr-1707	140	33	,	,	PUNCT
cblr-1707	140	34	fin	fin	NOUN
cblr-1707	140	35	.	.	PUNCT
cblr-1707	141	1	stability	stability	PROPN
cblr-1707	141	2	bd	bd	PROPN
cblr-1707	141	3	.	.	PROPN
cblr-1707	141	4	,	,	PUNCT
cblr-1707	141	5	assessment	assessment	NOUN
cblr-1707	141	6	of	of	ADP
cblr-1707	141	7	shadow	shadow	NOUN
cblr-1707	141	8	banking	banking	NOUN
cblr-1707	141	9	activities	activity	NOUN
cblr-1707	141	10	,	,	PUNCT
cblr-1707	141	11	risks	risk	NOUN
cblr-1707	141	12	and	and	CCONJ
cblr-1707	141	13	the	the	DET
cblr-1707	141	14	adequacy	adequacy	NOUN
cblr-1707	141	15	of	of	ADP
cblr-1707	141	16	post	post	ADJ
cblr-1707	141	17	-	-	ADJ
cblr-1707	141	18	crisis	crisis	NOUN
cblr-1707	141	19	policy	policy	NOUN
cblr-1707	141	20	tools	tool	NOUN
cblr-1707	141	21	to	to	PART
cblr-1707	141	22	address	address	VERB
cblr-1707	141	23	financial	financial	ADJ
cblr-1707	141	24	stability	stability	NOUN
cblr-1707	141	25	concerns	concern	VERB
cblr-1707	141	26	6–7	6–7	NUM
cblr-1707	141	27	(	(	PUNCT
cblr-1707	141	28	2017	2017	NUM
cblr-1707	141	29	)	)	PUNCT
cblr-1707	141	30	.	.	PUNCT
cblr-1707	142	1	24	24	NUM
cblr-1707	142	2	this	this	PRON
cblr-1707	142	3	is	be	AUX
cblr-1707	142	4	an	an	DET
cblr-1707	142	5	old	old	ADJ
cblr-1707	142	6	idea	idea	NOUN
cblr-1707	142	7	but	but	CCONJ
cblr-1707	142	8	it	it	PRON
cblr-1707	142	9	had	have	AUX
cblr-1707	142	10	been	be	AUX
cblr-1707	142	11	largely	largely	ADV
cblr-1707	142	12	dormant	dormant	ADJ
cblr-1707	142	13	for	for	ADP
cblr-1707	142	14	some	some	DET
cblr-1707	142	15	time	time	NOUN
cblr-1707	142	16	.	.	PUNCT
cblr-1707	143	1	see	see	VERB
cblr-1707	143	2	,	,	PUNCT
cblr-1707	143	3	e.g.	e.g.	ADV
cblr-1707	143	4	,	,	PUNCT
cblr-1707	143	5	j.r	j.r	PROPN
cblr-1707	143	6	.	.	PROPN
cblr-1707	143	7	hicks	hicks	PROPN
cblr-1707	143	8	,	,	PUNCT
cblr-1707	143	9	value	value	NOUN
cblr-1707	143	10	and	and	CCONJ
cblr-1707	143	11	capital	capital	NOUN
cblr-1707	143	12	168	168	NUM
cblr-1707	143	13	(	(	PUNCT
cblr-1707	143	14	2nd	2nd	ADJ
cblr-1707	143	15	ed	ed	NOUN
cblr-1707	143	16	.	.	PROPN
cblr-1707	143	17	1946	1946	NUM
cblr-1707	143	18	)	)	PUNCT
cblr-1707	143	19	(	(	PUNCT
cblr-1707	143	20	“	"	PUNCT
cblr-1707	143	21	bills	bill	NOUN
cblr-1707	143	22	of	of	ADP
cblr-1707	143	23	short	short	ADJ
cblr-1707	143	24	maturity	maturity	NOUN
cblr-1707	143	25	.	.	PUNCT
cblr-1707	143	26	.	.	PUNCT
cblr-1707	143	27	.	.	PUNCT
cblr-1707	144	1	[	[	X
cblr-1707	144	2	are	be	AUX
cblr-1707	144	3	]	]	PUNCT
cblr-1707	144	4	not	not	PART
cblr-1707	144	5	quite	quite	ADV
cblr-1707	144	6	perfect	perfect	ADJ
cblr-1707	144	7	money	money	NOUN
cblr-1707	144	8	,	,	PUNCT
cblr-1707	144	9	but	but	CCONJ
cblr-1707	144	10	still	still	ADV
cblr-1707	144	11	very	very	ADV
cblr-1707	144	12	close	close	ADJ
cblr-1707	144	13	substitutes	substitute	NOUN
cblr-1707	144	14	for	for	ADP
cblr-1707	144	15	it	it	PRON
cblr-1707	144	16	.	.	PUNCT
cblr-1707	144	17	”	"	PUNCT
cblr-1707	144	18	)	)	PUNCT
cblr-1707	144	19	;	;	PUNCT
cblr-1707	144	20	john	john	PROPN
cblr-1707	144	21	maynard	maynard	PROPN
cblr-1707	144	22	keynes	keynes	PROPN
cblr-1707	144	23	,	,	PUNCT
cblr-1707	144	24	the	the	DET
cblr-1707	144	25	general	general	ADJ
cblr-1707	144	26	theory	theory	NOUN
cblr-1707	144	27	of	of	ADP
cblr-1707	144	28	employment	employment	NOUN
cblr-1707	144	29	interest	interest	NOUN
cblr-1707	144	30	and	and	CCONJ
cblr-1707	144	31	money	money	NOUN
cblr-1707	144	32	167	167	NUM
cblr-1707	144	33	n.1	n.1	NOUN
cblr-1707	144	34	(	(	PUNCT
cblr-1707	144	35	1936	1936	NUM
cblr-1707	144	36	)	)	PUNCT
cblr-1707	144	37	(	(	PUNCT
cblr-1707	144	38	averring	aver	VERB
cblr-1707	144	39	that	that	SCONJ
cblr-1707	144	40	“	"	PUNCT
cblr-1707	144	41	we	we	PRON
cblr-1707	144	42	can	can	AUX
cblr-1707	144	43	treat	treat	VERB
cblr-1707	144	44	as	as	ADP
cblr-1707	144	45	money	money	NOUN
cblr-1707	144	46	”	"	PUNCT
cblr-1707	144	47	debt	debt	NOUN
cblr-1707	144	48	instruments	instrument	NOUN
cblr-1707	144	49	with	with	ADP
cblr-1707	144	50	a	a	DET
cblr-1707	144	51	maturity	maturity	NOUN
cblr-1707	144	52	not	not	PART
cblr-1707	144	53	“	"	PUNCT
cblr-1707	144	54	in	in	ADP
cblr-1707	144	55	excess	excess	NOUN
cblr-1707	144	56	of	of	ADP
cblr-1707	144	57	three	three	NUM
cblr-1707	144	58	months	month	NOUN
cblr-1707	144	59	[	[	X
cblr-1707	144	60	.	.	X
cblr-1707	144	61	]	]	X
cblr-1707	144	62	”	"	PUNCT
cblr-1707	144	63	)	)	PUNCT
cblr-1707	144	64	;	;	PUNCT
cblr-1707	144	65	henry	henry	PROPN
cblr-1707	144	66	c.	c.	PROPN
cblr-1707	144	67	simons	simons	PROPN
cblr-1707	144	68	,	,	PUNCT
cblr-1707	144	69	a	a	DET
cblr-1707	144	70	positive	positive	ADJ
cblr-1707	144	71	program	program	NOUN
cblr-1707	144	72	for	for	ADP
cblr-1707	144	73	laissez	laissez	PROPN
cblr-1707	144	74	faire	faire	NOUN
cblr-1707	144	75	:	:	PUNCT
cblr-1707	144	76	some	some	DET
cblr-1707	144	77	proposals	proposal	NOUN
cblr-1707	144	78	for	for	ADP
cblr-1707	144	79	a	a	DET
cblr-1707	144	80	liberal	liberal	ADJ
cblr-1707	144	81	economic	economic	ADJ
cblr-1707	144	82	policy	policy	NOUN
cblr-1707	144	83	(	(	PUNCT
cblr-1707	144	84	1934	1934	NUM
cblr-1707	144	85	)	)	PUNCT
cblr-1707	144	86	,	,	PUNCT
cblr-1707	144	87	reprinted	reprint	VERB
cblr-1707	144	88	in	in	ADP
cblr-1707	144	89	economic	economic	ADJ
cblr-1707	144	90	policy	policy	NOUN
cblr-1707	144	91	for	for	ADP
cblr-1707	144	92	a	a	DET
cblr-1707	144	93	free	free	ADJ
cblr-1707	144	94	society	society	NOUN
cblr-1707	144	95	320	320	NUM
cblr-1707	144	96	n.7	n.7	X
cblr-1707	144	97	(	(	PUNCT
cblr-1707	144	98	1948	1948	NUM
cblr-1707	144	99	)	)	PUNCT
cblr-1707	144	100	(	(	PUNCT
cblr-1707	144	101	“	"	PUNCT
cblr-1707	144	102	short	short	ADJ
cblr-1707	144	103	-	-	PUNCT
cblr-1707	144	104	term	term	NOUN
cblr-1707	144	105	debts	debt	NOUN
cblr-1707	144	106	.	.	PUNCT
cblr-1707	145	1	.	.	PUNCT
cblr-1707	145	2	.	.	PUNCT
cblr-1707	146	1	are	be	AUX
cblr-1707	146	2	.	.	PUNCT
cblr-1707	146	3	.	.	PUNCT
cblr-1707	146	4	.	.	PUNCT
cblr-1707	147	1	closely	closely	ADV
cblr-1707	147	2	akin	akin	ADJ
cblr-1707	147	3	to	to	ADP
cblr-1707	147	4	money	money	NOUN
cblr-1707	147	5	and	and	CCONJ
cblr-1707	147	6	demand	demand	VERB
cblr-1707	147	7	deposits	deposit	NOUN
cblr-1707	147	8	[	[	X
cblr-1707	147	9	.	.	X
cblr-1707	147	10	]	]	X
cblr-1707	147	11	”	"	PUNCT
cblr-1707	147	12	)	)	PUNCT
cblr-1707	147	13	.	.	PUNCT
cblr-1707	148	1	25	25	NUM
cblr-1707	148	2	gary	gary	PROPN
cblr-1707	148	3	b.	b.	PROPN
cblr-1707	148	4	gorton	gorton	PROPN
cblr-1707	148	5	,	,	PUNCT
cblr-1707	148	6	misunderstanding	misunderstand	VERB
cblr-1707	148	7	financial	financial	ADJ
cblr-1707	148	8	crises	crisis	NOUN
cblr-1707	148	9	:	:	PUNCT
cblr-1707	148	10	why	why	SCONJ
cblr-1707	148	11	we	we	PRON
cblr-1707	148	12	do	do	AUX
cblr-1707	148	13	n’t	not	PART
cblr-1707	148	14	see	see	VERB
cblr-1707	148	15	them	they	PRON
cblr-1707	148	16	coming	come	VERB
cblr-1707	148	17	5	5	NUM
cblr-1707	148	18	(	(	PUNCT
cblr-1707	148	19	2012	2012	NUM
cblr-1707	148	20	)	)	PUNCT
cblr-1707	148	21	;	;	PUNCT
cblr-1707	148	22	gary	gary	PROPN
cblr-1707	148	23	gorton	gorton	PROPN
cblr-1707	148	24	&	&	CCONJ
cblr-1707	148	25	guillermo	guillermo	PROPN
cblr-1707	148	26	ordoñez	ordoñez	PROPN
cblr-1707	148	27	,	,	PUNCT
cblr-1707	148	28	collateral	collateral	ADJ
cblr-1707	148	29	crises	crisis	NOUN
cblr-1707	148	30	,	,	PUNCT
cblr-1707	148	31	104	104	NUM
cblr-1707	148	32	am	am	NOUN
cblr-1707	148	33	.	.	PUNCT
cblr-1707	149	1	econ	econ	PROPN
cblr-1707	149	2	.	.	PUNCT
cblr-1707	150	1	rev	rev	PROPN
cblr-1707	150	2	.	.	PROPN
cblr-1707	150	3	343	343	NUM
cblr-1707	150	4	,	,	PUNCT
cblr-1707	150	5	343	343	NUM
cblr-1707	150	6	(	(	PUNCT
cblr-1707	150	7	2014	2014	NUM
cblr-1707	150	8	)	)	PUNCT
cblr-1707	150	9	.	.	PUNCT
cblr-1707	151	1	26	26	NUM
cblr-1707	151	2	jeremy	jeremy	PROPN
cblr-1707	151	3	c.	c.	PROPN
cblr-1707	151	4	stein	stein	PROPN
cblr-1707	151	5	,	,	PUNCT
cblr-1707	151	6	monetary	monetary	ADJ
cblr-1707	151	7	policy	policy	NOUN
cblr-1707	151	8	as	as	ADP
cblr-1707	151	9	financial	financial	ADJ
cblr-1707	151	10	stability	stability	NOUN
cblr-1707	151	11	regulation	regulation	NOUN
cblr-1707	151	12	,	,	PUNCT
cblr-1707	151	13	127	127	NUM
cblr-1707	151	14	q.j	q.j	PROPN
cblr-1707	151	15	.	.	PROPN
cblr-1707	151	16	econ	econ	PROPN
cblr-1707	151	17	.	.	PUNCT
cblr-1707	152	1	57	57	NUM
cblr-1707	152	2	,	,	PUNCT
cblr-1707	152	3	58	58	NUM
cblr-1707	152	4	(	(	PUNCT
cblr-1707	152	5	2012	2012	NUM
cblr-1707	152	6	)	)	PUNCT
cblr-1707	152	7	.	.	PUNCT
cblr-1707	153	1	27	27	NUM
cblr-1707	153	2	john	john	PROPN
cblr-1707	153	3	h.	h.	PROPN
cblr-1707	153	4	cochrane	cochrane	PROPN
cblr-1707	153	5	,	,	PUNCT
cblr-1707	153	6	toward	toward	ADP
cblr-1707	153	7	a	a	DET
cblr-1707	153	8	run	run	NOUN
cblr-1707	153	9	-	-	PUNCT
cblr-1707	153	10	free	free	ADJ
cblr-1707	153	11	financial	financial	ADJ
cblr-1707	153	12	system	system	NOUN
cblr-1707	153	13	,	,	PUNCT
cblr-1707	153	14	in	in	ADP
cblr-1707	153	15	across	across	ADP
cblr-1707	153	16	the	the	DET
cblr-1707	153	17	great	great	ADJ
cblr-1707	153	18	divide	divide	NOUN
cblr-1707	153	19	:	:	PUNCT
cblr-1707	153	20	new	new	ADJ
cblr-1707	153	21	perspectives	perspective	NOUN
cblr-1707	153	22	on	on	ADP
cblr-1707	153	23	the	the	DET
cblr-1707	153	24	financial	financial	ADJ
cblr-1707	153	25	crisis	crisis	NOUN
cblr-1707	153	26	224	224	NUM
cblr-1707	153	27	(	(	PUNCT
cblr-1707	153	28	martin	martin	PROPN
cblr-1707	153	29	neil	neil	PROPN
cblr-1707	153	30	baily	baily	PROPN
cblr-1707	153	31	&	&	CCONJ
cblr-1707	153	32	john	john	PROPN
cblr-1707	153	33	b.	b.	PROPN
cblr-1707	153	34	taylor	taylor	PROPN
cblr-1707	153	35	eds	eds	PROPN
cblr-1707	153	36	.	.	PROPN
cblr-1707	153	37	,	,	PUNCT
cblr-1707	153	38	2014	2014	NUM
cblr-1707	153	39	)	)	PUNCT
cblr-1707	153	40	.	.	PUNCT
cblr-1707	154	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	154	2	no	no	NOUN
cblr-1707	154	3	.	.	PUNCT
cblr-1707	155	1	3:757	3:757	NUM
cblr-1707	155	2	]	]	X
cblr-1707	155	3	money	money	NOUN
cblr-1707	155	4	as	as	ADP
cblr-1707	155	5	infrastructure	infrastructure	NOUN
cblr-1707	155	6	765	765	NUM
cblr-1707	155	7	sometimes	sometimes	ADV
cblr-1707	155	8	characterized	characterize	VERB
cblr-1707	155	9	as	as	ADP
cblr-1707	155	10	‘	'	PUNCT
cblr-1707	155	11	money	money	NOUN
cblr-1707	155	12	-	-	PUNCT
cblr-1707	155	13	like	like	ADJ
cblr-1707	155	14	.	.	PUNCT
cblr-1707	155	15	’”28	’”28	VERB
cblr-1707	155	16	their	their	PRON
cblr-1707	155	17	“	"	PUNCT
cblr-1707	155	18	private	private	ADJ
cblr-1707	155	19	creation	creation	NOUN
cblr-1707	155	20	,	,	PUNCT
cblr-1707	155	21	”	"	PUNCT
cblr-1707	155	22	he	he	PRON
cblr-1707	155	23	said	say	VERB
cblr-1707	155	24	,	,	PUNCT
cblr-1707	155	25	“	"	PUNCT
cblr-1707	155	26	is	be	AUX
cblr-1707	155	27	,	,	PUNCT
cblr-1707	155	28	at	at	ADP
cblr-1707	155	29	least	least	ADJ
cblr-1707	155	30	to	to	ADP
cblr-1707	155	31	some	some	DET
cblr-1707	155	32	degree	degree	NOUN
cblr-1707	155	33	,	,	PUNCT
cblr-1707	155	34	the	the	DET
cblr-1707	155	35	creation	creation	NOUN
cblr-1707	155	36	of	of	ADP
cblr-1707	155	37	money	money	NOUN
cblr-1707	155	38	outside	outside	ADV
cblr-1707	155	39	of	of	ADP
cblr-1707	155	40	the	the	DET
cblr-1707	155	41	operations	operation	NOUN
cblr-1707	155	42	of	of	ADP
cblr-1707	155	43	central	central	ADJ
cblr-1707	155	44	banks	bank	NOUN
cblr-1707	155	45	or	or	CCONJ
cblr-1707	155	46	of	of	ADP
cblr-1707	155	47	depository	depository	NOUN
cblr-1707	155	48	institutions	institution	NOUN
cblr-1707	155	49	subject	subject	ADJ
cblr-1707	155	50	to	to	ADP
cblr-1707	155	51	reserve	reserve	NOUN
cblr-1707	155	52	requirements	requirement	NOUN
cblr-1707	155	53	and	and	CCONJ
cblr-1707	155	54	other	other	ADJ
cblr-1707	155	55	regulations	regulation	NOUN
cblr-1707	155	56	.	.	PUNCT
cblr-1707	156	1	”29	”29	VERB
cblr-1707	156	2	legal	legal	ADJ
cblr-1707	156	3	scholars	scholar	NOUN
cblr-1707	156	4	have	have	AUX
cblr-1707	156	5	only	only	ADV
cblr-1707	156	6	just	just	ADV
cblr-1707	156	7	begun	begin	VERB
cblr-1707	156	8	to	to	PART
cblr-1707	156	9	examine	examine	VERB
cblr-1707	156	10	the	the	DET
cblr-1707	156	11	regulatory	regulatory	ADJ
cblr-1707	156	12	implications	implication	NOUN
cblr-1707	156	13	that	that	PRON
cblr-1707	156	14	would	would	AUX
cblr-1707	156	15	follow	follow	VERB
cblr-1707	156	16	from	from	ADP
cblr-1707	156	17	taking	take	VERB
cblr-1707	156	18	the	the	DET
cblr-1707	156	19	money	money	NOUN
cblr-1707	156	20	paradigm	paradigm	NOUN
cblr-1707	156	21	seriously.30	seriously.30	NOUN
cblr-1707	156	22	to	to	PART
cblr-1707	156	23	see	see	VERB
cblr-1707	156	24	what	what	PRON
cblr-1707	156	25	is	be	AUX
cblr-1707	156	26	at	at	ADP
cblr-1707	156	27	stake	stake	NOUN
cblr-1707	156	28	here	here	ADV
cblr-1707	156	29	,	,	PUNCT
cblr-1707	156	30	note	note	VERB
cblr-1707	156	31	that	that	SCONJ
cblr-1707	156	32	the	the	DET
cblr-1707	156	33	two	two	NUM
cblr-1707	156	34	paradigms	paradigm	NOUN
cblr-1707	156	35	start	start	VERB
cblr-1707	156	36	from	from	ADP
cblr-1707	156	37	strikingly	strikingly	ADV
cblr-1707	156	38	different	different	ADJ
cblr-1707	156	39	institutional	institutional	ADJ
cblr-1707	156	40	baselines	baseline	NOUN
cblr-1707	156	41	.	.	PUNCT
cblr-1707	157	1	in	in	ADP
cblr-1707	157	2	the	the	DET
cblr-1707	157	3	intermediation	intermediation	NOUN
cblr-1707	157	4	paradigm	paradigm	NOUN
cblr-1707	157	5	,	,	PUNCT
cblr-1707	157	6	banking	banking	NOUN
cblr-1707	157	7	is	be	AUX
cblr-1707	157	8	fundamentally	fundamentally	ADV
cblr-1707	157	9	a	a	DET
cblr-1707	157	10	private	private	ADJ
cblr-1707	157	11	activity	activity	NOUN
cblr-1707	157	12	that	that	PRON
cblr-1707	157	13	arises	arise	VERB
cblr-1707	157	14	in	in	ADP
cblr-1707	157	15	the	the	DET
cblr-1707	157	16	competitive	competitive	ADJ
cblr-1707	157	17	marketplace	marketplace	NOUN
cblr-1707	157	18	.	.	PUNCT
cblr-1707	158	1	it	it	PRON
cblr-1707	158	2	may	may	AUX
cblr-1707	158	3	give	give	VERB
cblr-1707	158	4	rise	rise	NOUN
cblr-1707	158	5	to	to	ADP
cblr-1707	158	6	certain	certain	ADJ
cblr-1707	158	7	kinds	kind	NOUN
cblr-1707	158	8	of	of	ADP
cblr-1707	158	9	problems	problem	NOUN
cblr-1707	158	10	(	(	PUNCT
cblr-1707	158	11	instability	instability	NOUN
cblr-1707	158	12	foremost	foremost	ADV
cblr-1707	158	13	among	among	ADP
cblr-1707	158	14	them	they	PRON
cblr-1707	158	15	)	)	PUNCT
cblr-1707	158	16	that	that	PRON
cblr-1707	158	17	justify	justify	VERB
cblr-1707	158	18	regulation	regulation	NOUN
cblr-1707	158	19	,	,	PUNCT
cblr-1707	158	20	but	but	CCONJ
cblr-1707	158	21	such	such	ADJ
cblr-1707	158	22	regulation	regulation	NOUN
cblr-1707	158	23	is	be	AUX
cblr-1707	158	24	seen	see	VERB
cblr-1707	158	25	as	as	ADP
cblr-1707	158	26	a	a	DET
cblr-1707	158	27	necessary	necessary	ADJ
cblr-1707	158	28	evil	evil	NOUN
cblr-1707	158	29	and	and	CCONJ
cblr-1707	158	30	should	should	AUX
cblr-1707	158	31	be	be	AUX
cblr-1707	158	32	designed	design	VERB
cblr-1707	158	33	so	so	ADV
cblr-1707	158	34	as	as	SCONJ
cblr-1707	158	35	not	not	PART
cblr-1707	158	36	to	to	PART
cblr-1707	158	37	unduly	unduly	ADV
cblr-1707	158	38	interfere	interfere	VERB
cblr-1707	158	39	with	with	ADP
cblr-1707	158	40	market	market	NOUN
cblr-1707	158	41	outcomes	outcome	NOUN
cblr-1707	158	42	.	.	PUNCT
cblr-1707	159	1	unquestionably	unquestionably	ADV
cblr-1707	159	2	,	,	PUNCT
cblr-1707	159	3	basic	basic	ADJ
cblr-1707	159	4	business	business	NOUN
cblr-1707	159	5	matters	matter	NOUN
cblr-1707	159	6	—	—	PUNCT
cblr-1707	159	7	such	such	ADJ
cblr-1707	159	8	as	as	ADP
cblr-1707	159	9	how	how	SCONJ
cblr-1707	159	10	much	much	ADJ
cblr-1707	159	11	interest	interest	NOUN
cblr-1707	159	12	is	be	AUX
cblr-1707	159	13	paid	pay	VERB
cblr-1707	159	14	on	on	ADP
cblr-1707	159	15	bank	bank	NOUN
cblr-1707	159	16	accounts	account	NOUN
cblr-1707	159	17	,	,	PUNCT
cblr-1707	159	18	or	or	CCONJ
cblr-1707	159	19	who	who	PRON
cblr-1707	159	20	gets	get	VERB
cblr-1707	159	21	access	access	NOUN
cblr-1707	159	22	to	to	ADP
cblr-1707	159	23	a	a	DET
cblr-1707	159	24	bank	bank	NOUN
cblr-1707	159	25	account	account	NOUN
cblr-1707	159	26	—	—	PUNCT
cblr-1707	159	27	should	should	AUX
cblr-1707	159	28	be	be	AUX
cblr-1707	159	29	left	leave	VERB
cblr-1707	159	30	free	free	ADJ
cblr-1707	159	31	from	from	ADP
cblr-1707	159	32	regulatory	regulatory	ADJ
cblr-1707	159	33	meddling	meddling	NOUN
cblr-1707	159	34	,	,	PUNCT
cblr-1707	159	35	apart	apart	ADV
cblr-1707	159	36	from	from	ADP
cblr-1707	159	37	generally	generally	ADV
cblr-1707	159	38	applicable	applicable	ADJ
cblr-1707	159	39	marketplace	marketplace	NOUN
cblr-1707	159	40	rules	rule	NOUN
cblr-1707	159	41	(	(	PUNCT
cblr-1707	159	42	consumer	consumer	NOUN
cblr-1707	159	43	protection	protection	NOUN
cblr-1707	159	44	,	,	PUNCT
cblr-1707	159	45	antifraud	antifraud	PROPN
cblr-1707	159	46	,	,	PUNCT
cblr-1707	159	47	and	and	CCONJ
cblr-1707	159	48	so	so	ADV
cblr-1707	159	49	forth	forth	ADV
cblr-1707	159	50	)	)	PUNCT
cblr-1707	159	51	.	.	PUNCT
cblr-1707	160	1	regulatory	regulatory	ADJ
cblr-1707	160	2	interference	interference	NOUN
cblr-1707	160	3	with	with	ADP
cblr-1707	160	4	such	such	ADJ
cblr-1707	160	5	business	business	NOUN
cblr-1707	160	6	matters	matter	NOUN
cblr-1707	160	7	is	be	AUX
cblr-1707	160	8	anathema	anathema	NOUN
cblr-1707	160	9	to	to	ADP
cblr-1707	160	10	the	the	DET
cblr-1707	160	11	intermediation	intermediation	NOUN
cblr-1707	160	12	paradigm	paradigm	NOUN
cblr-1707	160	13	.	.	PUNCT
cblr-1707	161	1	entry	entry	NOUN
cblr-1707	161	2	restriction	restriction	NOUN
cblr-1707	161	3	is	be	AUX
cblr-1707	161	4	likewise	likewise	ADV
cblr-1707	161	5	strongly	strongly	ADV
cblr-1707	161	6	disfavored	disfavor	VERB
cblr-1707	161	7	as	as	ADP
cblr-1707	161	8	inimical	inimical	ADJ
cblr-1707	161	9	to	to	PART
cblr-1707	161	10	competitive	competitive	VERB
cblr-1707	161	11	market	market	NOUN
cblr-1707	161	12	outcomes	outcome	NOUN
cblr-1707	161	13	.	.	PUNCT
cblr-1707	162	1	the	the	DET
cblr-1707	162	2	money	money	NOUN
cblr-1707	162	3	paradigm	paradigm	NOUN
cblr-1707	162	4	starts	start	VERB
cblr-1707	162	5	in	in	ADP
cblr-1707	162	6	a	a	DET
cblr-1707	162	7	completely	completely	ADV
cblr-1707	162	8	different	different	ADJ
cblr-1707	162	9	place	place	NOUN
cblr-1707	162	10	.	.	PUNCT
cblr-1707	163	1	rather	rather	ADV
cblr-1707	163	2	than	than	ADP
cblr-1707	163	3	seeing	see	VERB
cblr-1707	163	4	bank	bank	NOUN
cblr-1707	163	5	money	money	NOUN
cblr-1707	163	6	creation	creation	NOUN
cblr-1707	163	7	as	as	ADP
cblr-1707	163	8	a	a	DET
cblr-1707	163	9	legitimate	legitimate	ADJ
cblr-1707	163	10	private	private	ADJ
cblr-1707	163	11	activity	activity	NOUN
cblr-1707	163	12	that	that	PRON
cblr-1707	163	13	is	be	AUX
cblr-1707	163	14	then	then	ADV
cblr-1707	163	15	regulated	regulate	VERB
cblr-1707	163	16	,	,	PUNCT
cblr-1707	163	17	it	it	PRON
cblr-1707	163	18	sees	see	VERB
cblr-1707	163	19	money	money	NOUN
cblr-1707	163	20	creation	creation	NOUN
cblr-1707	163	21	28	28	NUM
cblr-1707	163	22	daniel	daniel	PROPN
cblr-1707	163	23	k.	k.	PROPN
cblr-1707	163	24	tarullo	tarullo	PROPN
cblr-1707	163	25	,	,	PUNCT
cblr-1707	163	26	member	member	NOUN
cblr-1707	163	27	,	,	PUNCT
cblr-1707	163	28	bd	bd	PROPN
cblr-1707	163	29	.	.	PROPN
cblr-1707	163	30	of	of	ADP
cblr-1707	163	31	governors	governor	NOUN
cblr-1707	163	32	of	of	ADP
cblr-1707	163	33	the	the	DET
cblr-1707	163	34	fed	fed	PROPN
cblr-1707	163	35	.	.	PUNCT
cblr-1707	164	1	reserve	reserve	PROPN
cblr-1707	164	2	sys	sys	PROPN
cblr-1707	164	3	.	.	PROPN
cblr-1707	164	4	,	,	PUNCT
cblr-1707	164	5	opening	opening	NOUN
cblr-1707	164	6	remarks	remark	NOUN
cblr-1707	164	7	at	at	ADP
cblr-1707	164	8	the	the	DET
cblr-1707	164	9	center	center	NOUN
cblr-1707	164	10	for	for	ADP
cblr-1707	164	11	american	american	ADJ
cblr-1707	164	12	progress	progress	NOUN
cblr-1707	164	13	and	and	CCONJ
cblr-1707	164	14	americans	americans	PROPN
cblr-1707	164	15	for	for	ADP
cblr-1707	164	16	financial	financial	ADJ
cblr-1707	164	17	reform	reform	NOUN
cblr-1707	164	18	conference	conference	NOUN
cblr-1707	164	19	,	,	PUNCT
cblr-1707	164	20	exploring	explore	VERB
cblr-1707	164	21	shadow	shadow	NOUN
cblr-1707	164	22	banking	banking	NOUN
cblr-1707	164	23	:	:	PUNCT
cblr-1707	164	24	can	can	AUX
cblr-1707	164	25	the	the	DET
cblr-1707	164	26	nation	nation	NOUN
cblr-1707	164	27	avoid	avoid	VERB
cblr-1707	164	28	the	the	DET
cblr-1707	164	29	next	next	ADJ
cblr-1707	164	30	crisis	crisis	NOUN
cblr-1707	164	31	?	?	PUNCT
cblr-1707	165	1	(	(	PUNCT
cblr-1707	165	2	july	july	PROPN
cblr-1707	165	3	12	12	NUM
cblr-1707	165	4	,	,	PUNCT
cblr-1707	165	5	2016	2016	NUM
cblr-1707	165	6	)	)	PUNCT
cblr-1707	165	7	,	,	PUNCT
cblr-1707	166	1	https://www.federalreserve.gov/newsevents/speech/tarullo20160712a.htm	https://www.federalreserve.gov/newsevents/speech/tarullo20160712a.htm	PROPN
cblr-1707	167	1	[	[	X
cblr-1707	167	2	https://perma.cc/wn98-9ucd	https://perma.cc/wn98-9ucd	PROPN
cblr-1707	167	3	]	]	PUNCT
cblr-1707	167	4	.	.	PUNCT
cblr-1707	168	1	29	29	NUM
cblr-1707	169	1	i	i	PRON
cblr-1707	169	2	d.	d.	PROPN
cblr-1707	169	3	30	30	NUM
cblr-1707	169	4	i	i	PRON
cblr-1707	169	5	have	have	AUX
cblr-1707	169	6	explored	explore	VERB
cblr-1707	169	7	some	some	PRON
cblr-1707	169	8	of	of	ADP
cblr-1707	169	9	these	these	DET
cblr-1707	169	10	issues	issue	NOUN
cblr-1707	169	11	in	in	ADP
cblr-1707	169	12	previous	previous	ADJ
cblr-1707	169	13	work	work	NOUN
cblr-1707	169	14	.	.	PUNCT
cblr-1707	170	1	see	see	VERB
cblr-1707	170	2	ricks	rick	NOUN
cblr-1707	170	3	,	,	PUNCT
cblr-1707	170	4	supra	supra	PROPN
cblr-1707	170	5	note	note	NOUN
cblr-1707	170	6	19	19	NUM
cblr-1707	170	7	at	at	ADP
cblr-1707	170	8	84–85	84–85	NUM
cblr-1707	170	9	;	;	PUNCT
cblr-1707	170	10	see	see	VERB
cblr-1707	170	11	also	also	ADV
cblr-1707	170	12	kathryn	kathryn	PROPN
cblr-1707	170	13	judge	judge	PROPN
cblr-1707	170	14	,	,	PUNCT
cblr-1707	170	15	information	information	NOUN
cblr-1707	170	16	gaps	gap	NOUN
cblr-1707	170	17	and	and	CCONJ
cblr-1707	170	18	shadow	shadow	NOUN
cblr-1707	170	19	banking	banking	NOUN
cblr-1707	170	20	,	,	PUNCT
cblr-1707	170	21	103	103	NUM
cblr-1707	170	22	va	va	NOUN
cblr-1707	170	23	.	.	PUNCT
cblr-1707	171	1	l.	l.	PROPN
cblr-1707	171	2	rev	rev	PROPN
cblr-1707	171	3	.	.	PROPN
cblr-1707	171	4	411	411	NUM
cblr-1707	171	5	,	,	PUNCT
cblr-1707	171	6	469	469	NUM
cblr-1707	171	7	(	(	PUNCT
cblr-1707	171	8	2017	2017	NUM
cblr-1707	171	9	)	)	PUNCT
cblr-1707	171	10	.	.	PUNCT
cblr-1707	172	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	172	2	766	766	NUM
cblr-1707	172	3	columbia	columbia	PROPN
cblr-1707	172	4	business	business	NOUN
cblr-1707	172	5	law	law	PROPN
cblr-1707	172	6	review	review	NOUN
cblr-1707	172	7	[	[	X
cblr-1707	172	8	vol	vol	NOUN
cblr-1707	172	9	.	.	NOUN
cblr-1707	172	10	2018	2018	NUM
cblr-1707	172	11	as	as	ADP
cblr-1707	172	12	an	an	DET
cblr-1707	172	13	intrinsically	intrinsically	ADV
cblr-1707	172	14	public	public	ADJ
cblr-1707	172	15	activity	activity	NOUN
cblr-1707	172	16	that	that	PRON
cblr-1707	172	17	is	be	AUX
cblr-1707	172	18	then	then	ADV
cblr-1707	172	19	outsourced.31	outsourced.31	VERB
cblr-1707	172	20	the	the	DET
cblr-1707	172	21	institutional	institutional	ADJ
cblr-1707	172	22	baseline	baseline	NOUN
cblr-1707	172	23	,	,	PUNCT
cblr-1707	172	24	then	then	ADV
cblr-1707	172	25	,	,	PUNCT
cblr-1707	172	26	is	be	AUX
cblr-1707	172	27	direct	direct	ADJ
cblr-1707	172	28	public	public	ADJ
cblr-1707	172	29	provisioning	provisioning	NOUN
cblr-1707	172	30	.	.	PUNCT
cblr-1707	173	1	insofar	insofar	ADV
cblr-1707	173	2	as	as	SCONJ
cblr-1707	173	3	banks	bank	NOUN
cblr-1707	173	4	are	be	AUX
cblr-1707	173	5	engaged	engage	VERB
cblr-1707	173	6	in	in	ADP
cblr-1707	173	7	money	money	NOUN
cblr-1707	173	8	creation	creation	NOUN
cblr-1707	173	9	,	,	PUNCT
cblr-1707	173	10	they	they	PRON
cblr-1707	173	11	do	do	VERB
cblr-1707	173	12	so	so	ADV
cblr-1707	173	13	pursuant	pursuant	ADJ
cblr-1707	173	14	to	to	ADP
cblr-1707	173	15	what	what	PRON
cblr-1707	173	16	amounts	amount	VERB
cblr-1707	173	17	to	to	ADP
cblr-1707	173	18	a	a	DET
cblr-1707	173	19	franchise	franchise	NOUN
cblr-1707	173	20	arrangement.32	arrangement.32	NOUN
cblr-1707	173	21	notably	notably	ADV
cblr-1707	173	22	,	,	PUNCT
cblr-1707	173	23	if	if	SCONJ
cblr-1707	173	24	the	the	DET
cblr-1707	173	25	government	government	NOUN
cblr-1707	173	26	chose	choose	VERB
cblr-1707	173	27	not	not	PART
cblr-1707	173	28	to	to	PART
cblr-1707	173	29	outsource	outsource	VERB
cblr-1707	173	30	money	money	NOUN
cblr-1707	173	31	creation	creation	NOUN
cblr-1707	173	32	—	—	PUNCT
cblr-1707	173	33	if	if	SCONJ
cblr-1707	173	34	,	,	PUNCT
cblr-1707	173	35	say	say	INTJ
cblr-1707	173	36	,	,	PUNCT
cblr-1707	173	37	everyone	everyone	PRON
cblr-1707	173	38	held	hold	VERB
cblr-1707	173	39	their	their	PRON
cblr-1707	173	40	transaction	transaction	NOUN
cblr-1707	173	41	accounts	account	VERB
cblr-1707	173	42	directly	directly	ADV
cblr-1707	173	43	with	with	ADP
cblr-1707	173	44	the	the	DET
cblr-1707	173	45	central	central	ADJ
cblr-1707	173	46	bank	bank	NOUN
cblr-1707	173	47	—	—	PUNCT
cblr-1707	173	48	then	then	ADV
cblr-1707	173	49	the	the	DET
cblr-1707	173	50	notion	notion	NOUN
cblr-1707	173	51	that	that	SCONJ
cblr-1707	173	52	the	the	DET
cblr-1707	173	53	interest	interest	NOUN
cblr-1707	173	54	paid	pay	VERB
cblr-1707	173	55	on	on	ADP
cblr-1707	173	56	such	such	ADJ
cblr-1707	173	57	accounts	account	NOUN
cblr-1707	173	58	should	should	AUX
cblr-1707	173	59	be	be	AUX
cblr-1707	173	60	determined	determine	VERB
cblr-1707	173	61	by	by	ADP
cblr-1707	173	62	“	"	PUNCT
cblr-1707	173	63	market	market	NOUN
cblr-1707	173	64	forces	force	NOUN
cblr-1707	173	65	”	"	PUNCT
cblr-1707	173	66	would	would	AUX
cblr-1707	173	67	be	be	AUX
cblr-1707	173	68	nonsensical	nonsensical	ADJ
cblr-1707	173	69	.	.	PUNCT
cblr-1707	174	1	surely	surely	ADV
cblr-1707	174	2	the	the	DET
cblr-1707	174	3	monetary	monetary	ADJ
cblr-1707	174	4	authority	authority	NOUN
cblr-1707	174	5	would	would	AUX
cblr-1707	174	6	determine	determine	VERB
cblr-1707	174	7	this	this	DET
cblr-1707	174	8	interest	interest	NOUN
cblr-1707	174	9	rate	rate	NOUN
cblr-1707	174	10	in	in	ADP
cblr-1707	174	11	the	the	DET
cblr-1707	174	12	conduct	conduct	NOUN
cblr-1707	174	13	of	of	ADP
cblr-1707	174	14	monetary	monetary	ADJ
cblr-1707	174	15	policy	policy	NOUN
cblr-1707	174	16	,	,	PUNCT
cblr-1707	174	17	based	base	VERB
cblr-1707	174	18	on	on	ADP
cblr-1707	174	19	macroeconomic	macroeconomic	ADJ
cblr-1707	174	20	conditions.33	conditions.33	NOUN
cblr-1707	174	21	by	by	ADP
cblr-1707	174	22	similar	similar	ADJ
cblr-1707	174	23	logic	logic	NOUN
cblr-1707	174	24	,	,	PUNCT
cblr-1707	174	25	under	under	ADP
cblr-1707	174	26	direct	direct	ADJ
cblr-1707	174	27	government	government	NOUN
cblr-1707	174	28	provisioning	provision	VERB
cblr-1707	174	29	the	the	DET
cblr-1707	174	30	government	government	NOUN
cblr-1707	174	31	might	might	AUX
cblr-1707	174	32	conclude	conclude	VERB
cblr-1707	174	33	that	that	PRON
cblr-1707	174	34	broad	broad	ADJ
cblr-1707	174	35	or	or	CCONJ
cblr-1707	174	36	even	even	ADV
cblr-1707	174	37	universal	universal	ADJ
cblr-1707	174	38	access	access	NOUN
cblr-1707	174	39	to	to	ADP
cblr-1707	174	40	transaction	transaction	NOUN
cblr-1707	174	41	accounts	account	NOUN
cblr-1707	174	42	would	would	AUX
cblr-1707	174	43	serve	serve	VERB
cblr-1707	174	44	the	the	DET
cblr-1707	174	45	public	public	ADJ
cblr-1707	174	46	interest	interest	NOUN
cblr-1707	174	47	,	,	PUNCT
cblr-1707	174	48	even	even	ADV
cblr-1707	174	49	if	if	SCONJ
cblr-1707	174	50	this	this	PRON
cblr-1707	174	51	meant	mean	VERB
cblr-1707	174	52	serving	serve	VERB
cblr-1707	174	53	some	some	DET
cblr-1707	174	54	users	user	NOUN
cblr-1707	174	55	below	below	ADP
cblr-1707	174	56	cost	cost	NOUN
cblr-1707	174	57	.	.	PUNCT
cblr-1707	175	1	many	many	ADJ
cblr-1707	175	2	government	government	NOUN
cblr-1707	175	3	services	service	NOUN
cblr-1707	175	4	work	work	VERB
cblr-1707	175	5	this	this	DET
cblr-1707	175	6	way	way	NOUN
cblr-1707	175	7	.	.	PUNCT
cblr-1707	176	1	crucially	crucially	ADV
cblr-1707	176	2	,	,	PUNCT
cblr-1707	176	3	the	the	DET
cblr-1707	176	4	decision	decision	NOUN
cblr-1707	176	5	to	to	ADP
cblr-1707	176	6	31	31	NUM
cblr-1707	176	7	even	even	ADV
cblr-1707	176	8	milton	milton	PROPN
cblr-1707	176	9	friedman	friedman	PROPN
cblr-1707	176	10	—	—	PUNCT
cblr-1707	176	11	a	a	DET
cblr-1707	176	12	champion	champion	NOUN
cblr-1707	176	13	of	of	ADP
cblr-1707	176	14	laissez	laissez	ADJ
cblr-1707	176	15	faire	faire	NOUN
cblr-1707	176	16	in	in	ADP
cblr-1707	176	17	other	other	ADJ
cblr-1707	176	18	areas	area	NOUN
cblr-1707	176	19	—	—	PUNCT
cblr-1707	176	20	called	call	VERB
cblr-1707	176	21	the	the	DET
cblr-1707	176	22	provision	provision	NOUN
cblr-1707	176	23	of	of	ADP
cblr-1707	176	24	a	a	DET
cblr-1707	176	25	stable	stable	ADJ
cblr-1707	176	26	monetary	monetary	ADJ
cblr-1707	176	27	framework	framework	NOUN
cblr-1707	176	28	“	"	PUNCT
cblr-1707	176	29	an	an	DET
cblr-1707	176	30	essential	essential	ADJ
cblr-1707	176	31	governmental	governmental	ADJ
cblr-1707	176	32	function	function	NOUN
cblr-1707	176	33	on	on	ADP
cblr-1707	176	34	a	a	DET
cblr-1707	176	35	par	par	NOUN
cblr-1707	176	36	with	with	ADP
cblr-1707	176	37	the	the	DET
cblr-1707	176	38	provision	provision	NOUN
cblr-1707	176	39	of	of	ADP
cblr-1707	176	40	a	a	DET
cblr-1707	176	41	stable	stable	ADJ
cblr-1707	176	42	legal	legal	ADJ
cblr-1707	176	43	framework	framework	NOUN
cblr-1707	176	44	.	.	PUNCT
cblr-1707	176	45	”	"	PUNCT
cblr-1707	177	1	milton	milton	PROPN
cblr-1707	177	2	friedman	friedman	PROPN
cblr-1707	177	3	,	,	PUNCT
cblr-1707	177	4	a	a	DET
cblr-1707	177	5	program	program	NOUN
cblr-1707	177	6	for	for	ADP
cblr-1707	177	7	monetary	monetary	ADJ
cblr-1707	177	8	stability	stability	NOUN
cblr-1707	177	9	8	8	NUM
cblr-1707	177	10	(	(	PUNCT
cblr-1707	177	11	1960	1960	NUM
cblr-1707	177	12	)	)	PUNCT
cblr-1707	177	13	;	;	PUNCT
cblr-1707	177	14	see	see	VERB
cblr-1707	177	15	also	also	ADV
cblr-1707	177	16	subcomm	subcomm	NOUN
cblr-1707	177	17	.	.	PUNCT
cblr-1707	178	1	on	on	ADP
cblr-1707	178	2	econ	econ	PROPN
cblr-1707	178	3	.	.	PUNCT
cblr-1707	179	1	in	in	ADP
cblr-1707	179	2	gov’t	gov’t	NUM
cblr-1707	179	3	,	,	PUNCT
cblr-1707	179	4	91st	91st	ADJ
cblr-1707	179	5	cong	cong	NOUN
cblr-1707	179	6	.	.	PROPN
cblr-1707	180	1	,	,	PUNCT
cblr-1707	180	2	the	the	DET
cblr-1707	180	3	analysis	analysis	NOUN
cblr-1707	180	4	and	and	CCONJ
cblr-1707	180	5	evaluation	evaluation	NOUN
cblr-1707	180	6	of	of	ADP
cblr-1707	180	7	public	public	ADJ
cblr-1707	180	8	expenditures	expenditure	NOUN
cblr-1707	180	9	:	:	PUNCT
cblr-1707	180	10	the	the	DET
cblr-1707	180	11	ppb	ppb	NOUN
cblr-1707	180	12	system	system	NOUN
cblr-1707	180	13	47	47	NUM
cblr-1707	180	14	,	,	PUNCT
cblr-1707	180	15	48	48	NUM
cblr-1707	180	16	(	(	PUNCT
cblr-1707	180	17	joint	joint	ADJ
cblr-1707	180	18	comm	comm	NOUN
cblr-1707	180	19	.	.	PUNCT
cblr-1707	181	1	print	print	NOUN
cblr-1707	181	2	1969	1969	NUM
cblr-1707	181	3	)	)	PUNCT
cblr-1707	181	4	(	(	PUNCT
cblr-1707	181	5	kenneth	kenneth	PROPN
cblr-1707	181	6	j.	j.	PROPN
cblr-1707	181	7	arrow	arrow	PROPN
cblr-1707	181	8	,	,	PUNCT
cblr-1707	181	9	the	the	DET
cblr-1707	181	10	organization	organization	NOUN
cblr-1707	181	11	of	of	ADP
cblr-1707	181	12	economic	economic	ADJ
cblr-1707	181	13	activity	activity	NOUN
cblr-1707	181	14	:	:	PUNCT
cblr-1707	181	15	issues	issue	NOUN
cblr-1707	181	16	pertinent	pertinent	ADJ
cblr-1707	181	17	to	to	ADP
cblr-1707	181	18	the	the	DET
cblr-1707	181	19	choice	choice	NOUN
cblr-1707	181	20	of	of	ADP
cblr-1707	181	21	market	market	NOUN
cblr-1707	181	22	versus	versus	ADP
cblr-1707	181	23	nonmarket	nonmarket	NOUN
cblr-1707	181	24	allocation	allocation	NOUN
cblr-1707	181	25	)	)	PUNCT
cblr-1707	181	26	(	(	PUNCT
cblr-1707	181	27	“	"	PUNCT
cblr-1707	181	28	the	the	DET
cblr-1707	181	29	creation	creation	NOUN
cblr-1707	181	30	of	of	ADP
cblr-1707	181	31	money	money	NOUN
cblr-1707	181	32	is	be	AUX
cblr-1707	181	33	in	in	ADP
cblr-1707	181	34	many	many	ADJ
cblr-1707	181	35	respects	respect	NOUN
cblr-1707	181	36	an	an	DET
cblr-1707	181	37	example	example	NOUN
cblr-1707	181	38	of	of	ADP
cblr-1707	181	39	a	a	DET
cblr-1707	181	40	public	public	ADJ
cblr-1707	181	41	good	good	NOUN
cblr-1707	181	42	.	.	PUNCT
cblr-1707	181	43	”	"	PUNCT
cblr-1707	181	44	)	)	PUNCT
cblr-1707	181	45	;	;	PUNCT
cblr-1707	181	46	charles	charles	PROPN
cblr-1707	181	47	p.	p.	PROPN
cblr-1707	181	48	kindleberger	kindleberger	PROPN
cblr-1707	181	49	&	&	CCONJ
cblr-1707	181	50	robert	robert	PROPN
cblr-1707	181	51	z.	z.	PROPN
cblr-1707	181	52	aliber	aliber	PROPN
cblr-1707	181	53	,	,	PUNCT
cblr-1707	181	54	manias	mania	NOUN
cblr-1707	181	55	,	,	PUNCT
cblr-1707	181	56	panics	panic	NOUN
cblr-1707	181	57	,	,	PUNCT
cblr-1707	181	58	and	and	CCONJ
cblr-1707	181	59	crashes	crash	VERB
cblr-1707	181	60	:	:	PUNCT
cblr-1707	181	61	a	a	DET
cblr-1707	181	62	history	history	NOUN
cblr-1707	181	63	of	of	ADP
cblr-1707	181	64	financial	financial	ADJ
cblr-1707	181	65	crises	crisis	NOUN
cblr-1707	181	66	19	19	NUM
cblr-1707	181	67	(	(	PUNCT
cblr-1707	181	68	6th	6th	ADJ
cblr-1707	181	69	ed	ed	NOUN
cblr-1707	181	70	.	.	PROPN
cblr-1707	181	71	2011	2011	NUM
cblr-1707	181	72	)	)	PUNCT
cblr-1707	181	73	(	(	PUNCT
cblr-1707	181	74	“	"	PUNCT
cblr-1707	181	75	money	money	NOUN
cblr-1707	181	76	is	be	AUX
cblr-1707	181	77	a	a	DET
cblr-1707	181	78	public	public	ADJ
cblr-1707	181	79	good	good	NOUN
cblr-1707	182	1	[	[	X
cblr-1707	182	2	.	.	X
cblr-1707	182	3	]	]	X
cblr-1707	182	4	”	"	PUNCT
cblr-1707	182	5	)	)	PUNCT
cblr-1707	182	6	;	;	PUNCT
cblr-1707	182	7	david	david	PROPN
cblr-1707	182	8	laidler	laidler	PROPN
cblr-1707	182	9	,	,	PUNCT
cblr-1707	182	10	taking	take	VERB
cblr-1707	182	11	money	money	NOUN
cblr-1707	182	12	seriously	seriously	ADV
cblr-1707	182	13	47	47	NUM
cblr-1707	182	14	(	(	PUNCT
cblr-1707	182	15	1990	1990	NUM
cblr-1707	182	16	)	)	PUNCT
cblr-1707	182	17	(	(	PUNCT
cblr-1707	182	18	“	"	PUNCT
cblr-1707	182	19	[	[	X
cblr-1707	182	20	t]here	t]here	PROPN
cblr-1707	182	21	is	be	AUX
cblr-1707	182	22	something	something	PRON
cblr-1707	182	23	of	of	ADP
cblr-1707	182	24	the	the	DET
cblr-1707	182	25	nature	nature	NOUN
cblr-1707	182	26	of	of	ADP
cblr-1707	182	27	a	a	DET
cblr-1707	182	28	public	public	ADJ
cblr-1707	182	29	good	good	NOUN
cblr-1707	182	30	about	about	ADP
cblr-1707	182	31	money	money	NOUN
cblr-1707	182	32	[	[	X
cblr-1707	182	33	.	.	X
cblr-1707	182	34	]	]	X
cblr-1707	182	35	”	"	PUNCT
cblr-1707	182	36	)	)	PUNCT
cblr-1707	182	37	;	;	PUNCT
cblr-1707	182	38	james	james	PROPN
cblr-1707	182	39	m.	m.	PROPN
cblr-1707	182	40	buchanan	buchanan	PROPN
cblr-1707	182	41	,	,	PUNCT
cblr-1707	182	42	the	the	DET
cblr-1707	182	43	constitutionalization	constitutionalization	NOUN
cblr-1707	182	44	of	of	ADP
cblr-1707	182	45	money	money	NOUN
cblr-1707	182	46	,	,	PUNCT
cblr-1707	182	47	30	30	NUM
cblr-1707	182	48	cato	cato	PROPN
cblr-1707	182	49	j.	j.	PROPN
cblr-1707	182	50	251	251	PROPN
cblr-1707	182	51	,	,	PUNCT
cblr-1707	182	52	251	251	NUM
cblr-1707	182	53	(	(	PUNCT
cblr-1707	182	54	“	"	PUNCT
cblr-1707	182	55	the	the	DET
cblr-1707	182	56	market	market	NOUN
cblr-1707	182	57	will	will	AUX
cblr-1707	182	58	not	not	PART
cblr-1707	182	59	work	work	VERB
cblr-1707	182	60	effectively	effectively	ADV
cblr-1707	182	61	with	with	ADP
cblr-1707	182	62	monetary	monetary	ADJ
cblr-1707	182	63	anarchy	anarchy	NOUN
cblr-1707	182	64	.	.	PUNCT
cblr-1707	182	65	”	"	PUNCT
cblr-1707	182	66	)	)	PUNCT
cblr-1707	182	67	;	;	PUNCT
cblr-1707	182	68	john	john	PROPN
cblr-1707	182	69	cochrane	cochrane	PROPN
cblr-1707	182	70	,	,	PUNCT
cblr-1707	182	71	remarks	remark	VERB
cblr-1707	182	72	at	at	ADP
cblr-1707	182	73	the	the	DET
cblr-1707	182	74	federal	federal	PROPN
cblr-1707	182	75	reserve	reserve	PROPN
cblr-1707	182	76	bank	bank	PROPN
cblr-1707	182	77	of	of	ADP
cblr-1707	182	78	minneapolis	minneapolis	PROPN
cblr-1707	182	79	(	(	PUNCT
cblr-1707	182	80	may	may	PROPN
cblr-1707	182	81	16	16	NUM
cblr-1707	182	82	,	,	PUNCT
cblr-1707	182	83	2016	2016	NUM
cblr-1707	182	84	)	)	PUNCT
cblr-1707	182	85	,	,	PUNCT
cblr-1707	182	86	https://youtu.be/qcidqjmxpyk?t=7651	https://youtu.be/qcidqjmxpyk?t=7651	NOUN
cblr-1707	182	87	[	[	X
cblr-1707	182	88	https://perma.cc/r6gugugs	https://perma.cc/r6gugug	NOUN
cblr-1707	182	89	]	]	X
cblr-1707	182	90	(	(	PUNCT
cblr-1707	182	91	“	"	PUNCT
cblr-1707	182	92	there	there	PRON
cblr-1707	182	93	’s	’	VERB
cblr-1707	182	94	a	a	DET
cblr-1707	182	95	few	few	ADJ
cblr-1707	182	96	things	thing	NOUN
cblr-1707	182	97	the	the	DET
cblr-1707	182	98	government	government	NOUN
cblr-1707	182	99	has	have	VERB
cblr-1707	182	100	a	a	DET
cblr-1707	182	101	natural	natural	ADJ
cblr-1707	182	102	monopoly	monopoly	NOUN
cblr-1707	182	103	in	in	ADP
cblr-1707	182	104	.	.	PUNCT
cblr-1707	182	105	.	.	PUNCT
cblr-1707	182	106	.	.	PUNCT
cblr-1707	183	1	:	:	PUNCT
cblr-1707	183	2	national	national	ADJ
cblr-1707	183	3	defense	defense	NOUN
cblr-1707	183	4	,	,	PUNCT
cblr-1707	183	5	courts	court	NOUN
cblr-1707	183	6	,	,	PUNCT
cblr-1707	183	7	property	property	NOUN
cblr-1707	183	8	rights	right	NOUN
cblr-1707	183	9	,	,	PUNCT
cblr-1707	183	10	and	and	CCONJ
cblr-1707	183	11	i	i	PRON
cblr-1707	183	12	think	think	VERB
cblr-1707	183	13	money	money	NOUN
cblr-1707	183	14	[	[	X
cblr-1707	183	15	.	.	X
cblr-1707	183	16	]	]	X
cblr-1707	183	17	”	"	PUNCT
cblr-1707	183	18	)	)	PUNCT
cblr-1707	183	19	.	.	PUNCT
cblr-1707	184	1	for	for	ADP
cblr-1707	184	2	a	a	DET
cblr-1707	184	3	contrary	contrary	NOUN
cblr-1707	184	4	,	,	PUNCT
cblr-1707	184	5	laissez	laissez	ADJ
cblr-1707	184	6	-	-	PUNCT
cblr-1707	184	7	faire	faire	NOUN
cblr-1707	184	8	perspective	perspective	NOUN
cblr-1707	184	9	,	,	PUNCT
cblr-1707	184	10	see	see	VERB
cblr-1707	184	11	lawrence	lawrence	PROPN
cblr-1707	184	12	h.	h.	PROPN
cblr-1707	184	13	white	white	PROPN
cblr-1707	184	14	,	,	PUNCT
cblr-1707	184	15	the	the	DET
cblr-1707	184	16	theory	theory	NOUN
cblr-1707	184	17	of	of	ADP
cblr-1707	184	18	monetary	monetary	ADJ
cblr-1707	184	19	institutions	institution	NOUN
cblr-1707	184	20	88–119	88–119	PROPN
cblr-1707	184	21	(	(	PUNCT
cblr-1707	184	22	1999	1999	NUM
cblr-1707	184	23	)	)	PUNCT
cblr-1707	184	24	.	.	PUNCT
cblr-1707	185	1	32	32	NUM
cblr-1707	185	2	cf	cf	NOUN
cblr-1707	185	3	.	.	PUNCT
cblr-1707	186	1	hockett	hockett	PROPN
cblr-1707	186	2	&	&	CCONJ
cblr-1707	186	3	omarova	omarova	PROPN
cblr-1707	186	4	,	,	PUNCT
cblr-1707	186	5	supra	supra	PROPN
cblr-1707	186	6	note	note	NOUN
cblr-1707	186	7	1	1	NUM
cblr-1707	186	8	,	,	PUNCT
cblr-1707	186	9	at	at	ADP
cblr-1707	186	10	1147	1147	NUM
cblr-1707	186	11	.	.	PUNCT
cblr-1707	187	1	hockett	hockett	PROPN
cblr-1707	187	2	and	and	CCONJ
cblr-1707	187	3	omarova	omarova	PROPN
cblr-1707	187	4	apply	apply	VERB
cblr-1707	187	5	their	their	PRON
cblr-1707	187	6	franchise	franchise	NOUN
cblr-1707	187	7	conception	conception	NOUN
cblr-1707	187	8	to	to	ADP
cblr-1707	187	9	the	the	DET
cblr-1707	187	10	financial	financial	ADJ
cblr-1707	187	11	system	system	NOUN
cblr-1707	187	12	as	as	ADP
cblr-1707	187	13	a	a	DET
cblr-1707	187	14	whole	whole	NOUN
cblr-1707	187	15	,	,	PUNCT
cblr-1707	187	16	whereas	whereas	SCONJ
cblr-1707	187	17	my	my	PRON
cblr-1707	187	18	focus	focus	NOUN
cblr-1707	187	19	here	here	ADV
cblr-1707	187	20	(	(	PUNCT
cblr-1707	187	21	the	the	DET
cblr-1707	187	22	monetary	monetary	ADJ
cblr-1707	187	23	framework	framework	NOUN
cblr-1707	187	24	)	)	PUNCT
cblr-1707	187	25	is	be	AUX
cblr-1707	187	26	much	much	ADV
cblr-1707	187	27	narrower	narrow	ADJ
cblr-1707	187	28	.	.	PUNCT
cblr-1707	188	1	33	33	NUM
cblr-1707	188	2	see	see	VERB
cblr-1707	188	3	infra	infra	NOUN
cblr-1707	188	4	part	part	PROPN
cblr-1707	188	5	ii	ii	PROPN
cblr-1707	188	6	.	.	PROPN
cblr-1707	188	7	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	188	8	no	no	NOUN
cblr-1707	188	9	.	.	PUNCT
cblr-1707	189	1	3:757	3:757	NUM
cblr-1707	189	2	]	]	X
cblr-1707	189	3	money	money	NOUN
cblr-1707	189	4	as	as	SCONJ
cblr-1707	189	5	infrastructure	infrastructure	NOUN
cblr-1707	189	6	767	767	NUM
cblr-1707	189	7	outsource	outsource	NOUN
cblr-1707	189	8	has	have	VERB
cblr-1707	189	9	no	no	DET
cblr-1707	189	10	necessary	necessary	ADJ
cblr-1707	189	11	bearing	bearing	NOUN
cblr-1707	189	12	on	on	ADP
cblr-1707	189	13	these	these	DET
cblr-1707	189	14	decisions	decision	NOUN
cblr-1707	189	15	.	.	PUNCT
cblr-1707	190	1	this	this	PRON
cblr-1707	190	2	is	be	AUX
cblr-1707	190	3	government	government	NOUN
cblr-1707	190	4	procurement	procurement	NOUN
cblr-1707	190	5	and	and	CCONJ
cblr-1707	190	6	the	the	DET
cblr-1707	190	7	government	government	NOUN
cblr-1707	190	8	must	must	AUX
cblr-1707	190	9	supply	supply	VERB
cblr-1707	190	10	the	the	DET
cblr-1707	190	11	specifications	specification	NOUN
cblr-1707	190	12	.	.	PUNCT
cblr-1707	191	1	the	the	DET
cblr-1707	191	2	overall	overall	ADJ
cblr-1707	191	3	package	package	NOUN
cblr-1707	191	4	must	must	AUX
cblr-1707	191	5	be	be	AUX
cblr-1707	191	6	attractive	attractive	ADJ
cblr-1707	191	7	enough	enough	ADV
cblr-1707	191	8	to	to	PART
cblr-1707	191	9	induce	induce	VERB
cblr-1707	191	10	private	private	ADJ
cblr-1707	191	11	sector	sector	NOUN
cblr-1707	191	12	participation	participation	NOUN
cblr-1707	191	13	,	,	PUNCT
cblr-1707	191	14	but	but	CCONJ
cblr-1707	191	15	no	no	DET
cblr-1707	191	16	particular	particular	ADJ
cblr-1707	191	17	term	term	NOUN
cblr-1707	191	18	of	of	ADP
cblr-1707	191	19	the	the	DET
cblr-1707	191	20	package	package	NOUN
cblr-1707	191	21	is	be	AUX
cblr-1707	191	22	dictated	dictate	VERB
cblr-1707	191	23	by	by	ADP
cblr-1707	191	24	the	the	DET
cblr-1707	191	25	mere	mere	ADJ
cblr-1707	191	26	fact	fact	NOUN
cblr-1707	191	27	of	of	ADP
cblr-1707	191	28	outsourcing	outsourcing	NOUN
cblr-1707	191	29	.	.	PUNCT
cblr-1707	192	1	finally	finally	ADV
cblr-1707	192	2	,	,	PUNCT
cblr-1707	192	3	in	in	ADP
cblr-1707	192	4	the	the	DET
cblr-1707	192	5	money	money	NOUN
cblr-1707	192	6	paradigm	paradigm	NOUN
cblr-1707	192	7	,	,	PUNCT
cblr-1707	192	8	entry	entry	NOUN
cblr-1707	192	9	restriction	restriction	NOUN
cblr-1707	192	10	is	be	AUX
cblr-1707	192	11	not	not	PART
cblr-1707	192	12	disfavored	disfavor	VERB
cblr-1707	192	13	.	.	PUNCT
cblr-1707	193	1	in	in	ADP
cblr-1707	193	2	fact	fact	NOUN
cblr-1707	193	3	,	,	PUNCT
cblr-1707	193	4	it	it	PRON
cblr-1707	193	5	is	be	AUX
cblr-1707	193	6	implied	imply	VERB
cblr-1707	193	7	by	by	ADP
cblr-1707	193	8	the	the	DET
cblr-1707	193	9	franchise	franchise	NOUN
cblr-1707	193	10	arrangement	arrangement	NOUN
cblr-1707	193	11	.	.	PUNCT
cblr-1707	194	1	administrative	administrative	ADJ
cblr-1707	194	2	controls	control	NOUN
cblr-1707	194	3	over	over	ADP
cblr-1707	194	4	deposit	deposit	NOUN
cblr-1707	194	5	rates	rate	NOUN
cblr-1707	194	6	would	would	AUX
cblr-1707	194	7	alleviate	alleviate	VERB
cblr-1707	194	8	concerns	concern	NOUN
cblr-1707	194	9	about	about	ADP
cblr-1707	194	10	the	the	DET
cblr-1707	194	11	anticompetitive	anticompetitive	ADJ
cblr-1707	194	12	effects	effect	NOUN
cblr-1707	194	13	of	of	ADP
cblr-1707	194	14	entry	entry	NOUN
cblr-1707	194	15	restriction	restriction	NOUN
cblr-1707	194	16	,	,	PUNCT
cblr-1707	194	17	since	since	SCONJ
cblr-1707	194	18	competition	competition	NOUN
cblr-1707	194	19	would	would	AUX
cblr-1707	194	20	not	not	PART
cblr-1707	194	21	be	be	AUX
cblr-1707	194	22	relied	rely	VERB
cblr-1707	194	23	upon	upon	SCONJ
cblr-1707	194	24	to	to	PART
cblr-1707	194	25	discipline	discipline	VERB
cblr-1707	194	26	prices	price	NOUN
cblr-1707	194	27	.	.	PUNCT
cblr-1707	195	1	the	the	DET
cblr-1707	195	2	money	money	NOUN
cblr-1707	195	3	paradigm	paradigm	NOUN
cblr-1707	195	4	’s	’s	PART
cblr-1707	195	5	implicit	implicit	ADJ
cblr-1707	195	6	institutional	institutional	ADJ
cblr-1707	195	7	baseline	baseline	NOUN
cblr-1707	195	8	points	point	NOUN
cblr-1707	195	9	toward	toward	ADP
cblr-1707	195	10	an	an	DET
cblr-1707	195	11	unexpected	unexpected	ADJ
cblr-1707	195	12	connection	connection	NOUN
cblr-1707	195	13	to	to	ADP
cblr-1707	195	14	another	another	DET
cblr-1707	195	15	,	,	PUNCT
cblr-1707	195	16	seemingly	seemingly	ADV
cblr-1707	195	17	unrelated	unrelated	ADJ
cblr-1707	195	18	area	area	NOUN
cblr-1707	195	19	of	of	ADP
cblr-1707	195	20	administrative	administrative	ADJ
cblr-1707	195	21	regulation	regulation	NOUN
cblr-1707	195	22	.	.	PUNCT
cblr-1707	196	1	in	in	ADP
cblr-1707	196	2	the	the	DET
cblr-1707	196	3	study	study	NOUN
cblr-1707	196	4	of	of	ADP
cblr-1707	196	5	“	"	PUNCT
cblr-1707	196	6	regulated	regulate	VERB
cblr-1707	196	7	industries”—also	industries”—also	ADV
cblr-1707	196	8	known	know	VERB
cblr-1707	196	9	as	as	ADP
cblr-1707	196	10	infrastructure	infrastructure	NOUN
cblr-1707	196	11	industries	industry	NOUN
cblr-1707	196	12	,	,	PUNCT
cblr-1707	196	13	network	network	NOUN
cblr-1707	196	14	industries	industry	NOUN
cblr-1707	196	15	,	,	PUNCT
cblr-1707	196	16	or	or	CCONJ
cblr-1707	196	17	public	public	ADJ
cblr-1707	196	18	utilities	utility	NOUN
cblr-1707	196	19	and	and	CCONJ
cblr-1707	196	20	common	common	ADJ
cblr-1707	196	21	carriers	carrier	NOUN
cblr-1707	196	22	—	—	PUNCT
cblr-1707	196	23	the	the	DET
cblr-1707	196	24	outsourcing	outsourcing	NOUN
cblr-1707	196	25	or	or	CCONJ
cblr-1707	196	26	procurement	procurement	NOUN
cblr-1707	196	27	-	-	PUNCT
cblr-1707	196	28	contracting	contract	VERB
cblr-1707	196	29	framework	framework	NOUN
cblr-1707	196	30	is	be	AUX
cblr-1707	196	31	perhaps	perhaps	ADV
cblr-1707	196	32	the	the	DET
cblr-1707	196	33	dominant	dominant	ADJ
cblr-1707	196	34	mode	mode	NOUN
cblr-1707	196	35	of	of	ADP
cblr-1707	196	36	analysis.34	analysis.34	PROPN
cblr-1707	196	37	harold	harold	PROPN
cblr-1707	196	38	demsetz	demsetz	PROPN
cblr-1707	196	39	inaugurated	inaugurate	VERB
cblr-1707	196	40	this	this	DET
cblr-1707	196	41	mode	mode	NOUN
cblr-1707	196	42	of	of	ADP
cblr-1707	196	43	contractual	contractual	ADJ
cblr-1707	196	44	analysis	analysis	NOUN
cblr-1707	196	45	in	in	ADP
cblr-1707	196	46	a	a	DET
cblr-1707	196	47	classic	classic	ADJ
cblr-1707	196	48	1968	1968	NUM
cblr-1707	196	49	article	article	NOUN
cblr-1707	196	50	in	in	ADP
cblr-1707	196	51	which	which	PRON
cblr-1707	196	52	he	he	PRON
cblr-1707	196	53	suggested	suggest	VERB
cblr-1707	196	54	that	that	SCONJ
cblr-1707	196	55	“	"	PUNCT
cblr-1707	196	56	franchise	franchise	NOUN
cblr-1707	196	57	bidding	bidding	NOUN
cblr-1707	196	58	”	"	PUNCT
cblr-1707	196	59	might	might	AUX
cblr-1707	196	60	be	be	AUX
cblr-1707	196	61	used	use	VERB
cblr-1707	196	62	in	in	ADP
cblr-1707	196	63	lieu	lieu	NOUN
cblr-1707	196	64	of	of	ADP
cblr-1707	196	65	administrative	administrative	ADJ
cblr-1707	196	66	regulation	regulation	NOUN
cblr-1707	196	67	in	in	ADP
cblr-1707	196	68	these	these	DET
cblr-1707	196	69	industries.35	industries.35	NOUN
cblr-1707	196	70	prospective	prospective	ADJ
cblr-1707	196	71	service	service	NOUN
cblr-1707	196	72	providers	provider	NOUN
cblr-1707	196	73	would	would	AUX
cblr-1707	196	74	submit	submit	VERB
cblr-1707	196	75	competitive	competitive	ADJ
cblr-1707	196	76	bids	bid	NOUN
cblr-1707	196	77	to	to	PART
cblr-1707	196	78	offer	offer	VERB
cblr-1707	196	79	the	the	DET
cblr-1707	196	80	service	service	NOUN
cblr-1707	196	81	in	in	ADP
cblr-1707	196	82	question	question	NOUN
cblr-1707	196	83	,	,	PUNCT
cblr-1707	196	84	and	and	CCONJ
cblr-1707	196	85	the	the	DET
cblr-1707	196	86	governing	governing	NOUN
cblr-1707	196	87	authority	authority	NOUN
cblr-1707	196	88	would	would	AUX
cblr-1707	196	89	select	select	VERB
cblr-1707	196	90	the	the	DET
cblr-1707	196	91	most	most	ADV
cblr-1707	196	92	favorable	favorable	ADJ
cblr-1707	196	93	bid	bid	NOUN
cblr-1707	196	94	.	.	PUNCT
cblr-1707	197	1	competition	competition	NOUN
cblr-1707	197	2	for	for	ADP
cblr-1707	197	3	the	the	DET
cblr-1707	197	4	market	market	NOUN
cblr-1707	197	5	(	(	PUNCT
cblr-1707	197	6	as	as	SCONJ
cblr-1707	197	7	opposed	oppose	VERB
cblr-1707	197	8	to	to	ADP
cblr-1707	197	9	within	within	ADP
cblr-1707	197	10	the	the	DET
cblr-1707	197	11	market	market	NOUN
cblr-1707	197	12	)	)	PUNCT
cblr-1707	197	13	would	would	AUX
cblr-1707	197	14	protect	protect	VERB
cblr-1707	197	15	consumers	consumer	NOUN
cblr-1707	197	16	against	against	ADP
cblr-1707	197	17	supracompetitive	supracompetitive	ADJ
cblr-1707	197	18	prices	price	NOUN
cblr-1707	197	19	,	,	PUNCT
cblr-1707	197	20	as	as	SCONJ
cblr-1707	197	21	pricing	pricing	NOUN
cblr-1707	197	22	and	and	CCONJ
cblr-1707	197	23	terms	term	NOUN
cblr-1707	197	24	of	of	ADP
cblr-1707	197	25	service	service	NOUN
cblr-1707	197	26	would	would	AUX
cblr-1707	197	27	be	be	AUX
cblr-1707	197	28	locked	lock	VERB
cblr-1707	197	29	in	in	ADP
cblr-1707	197	30	upfront	upfront	NOUN
cblr-1707	197	31	.	.	PUNCT
cblr-1707	198	1	contractual	contractual	ADJ
cblr-1707	198	2	enforcement	enforcement	NOUN
cblr-1707	198	3	through	through	ADP
cblr-1707	198	4	courts	court	NOUN
cblr-1707	198	5	would	would	AUX
cblr-1707	198	6	substitute	substitute	VERB
cblr-1707	198	7	for	for	ADP
cblr-1707	198	8	regulatory	regulatory	ADJ
cblr-1707	198	9	commissions	commission	NOUN
cblr-1707	198	10	or	or	CCONJ
cblr-1707	198	11	agencies	agency	NOUN
cblr-1707	198	12	.	.	PUNCT
cblr-1707	199	1	other	other	ADJ
cblr-1707	199	2	34	34	NUM
cblr-1707	199	3	the	the	DET
cblr-1707	199	4	legal	legal	ADJ
cblr-1707	199	5	study	study	NOUN
cblr-1707	199	6	of	of	ADP
cblr-1707	199	7	regulated	regulated	ADJ
cblr-1707	199	8	industries	industry	NOUN
cblr-1707	199	9	is	be	AUX
cblr-1707	199	10	generally	generally	ADV
cblr-1707	199	11	understood	understand	VERB
cblr-1707	199	12	to	to	PART
cblr-1707	199	13	encompass	encompass	VERB
cblr-1707	199	14	certain	certain	ADJ
cblr-1707	199	15	portions	portion	NOUN
cblr-1707	199	16	of	of	ADP
cblr-1707	199	17	the	the	DET
cblr-1707	199	18	energy	energy	NOUN
cblr-1707	199	19	,	,	PUNCT
cblr-1707	199	20	communication	communication	NOUN
cblr-1707	199	21	,	,	PUNCT
cblr-1707	199	22	and	and	CCONJ
cblr-1707	199	23	transportation	transportation	NOUN
cblr-1707	199	24	sectors	sector	NOUN
cblr-1707	199	25	,	,	PUNCT
cblr-1707	199	26	but	but	CCONJ
cblr-1707	199	27	not	not	PART
cblr-1707	199	28	banking	banking	NOUN
cblr-1707	199	29	.	.	PUNCT
cblr-1707	200	1	see	see	VERB
cblr-1707	200	2	,	,	PUNCT
cblr-1707	200	3	e.g.	e.g.	ADV
cblr-1707	200	4	,	,	PUNCT
cblr-1707	200	5	w.	w.	PROPN
cblr-1707	200	6	kip	kip	PROPN
cblr-1707	200	7	viscusi	viscusi	PROPN
cblr-1707	200	8	,	,	PUNCT
cblr-1707	200	9	joseph	joseph	PROPN
cblr-1707	200	10	e.	e.	PROPN
cblr-1707	200	11	harrington	harrington	PROPN
cblr-1707	200	12	,	,	PUNCT
cblr-1707	200	13	jr	jr	PROPN
cblr-1707	200	14	.	.	PROPN
cblr-1707	200	15	&	&	CCONJ
cblr-1707	200	16	john	john	PROPN
cblr-1707	200	17	m.	m.	PROPN
cblr-1707	200	18	vernon	vernon	PROPN
cblr-1707	200	19	,	,	PUNCT
cblr-1707	200	20	economics	economic	NOUN
cblr-1707	200	21	of	of	ADP
cblr-1707	200	22	regulation	regulation	NOUN
cblr-1707	200	23	and	and	CCONJ
cblr-1707	200	24	antitrust	antitrust	ADJ
cblr-1707	200	25	vii	vii	PROPN
cblr-1707	200	26	-	-	PUNCT
cblr-1707	200	27	xii	xii	PROPN
cblr-1707	200	28	,	,	PUNCT
cblr-1707	200	29	at	at	ADP
cblr-1707	200	30	397	397	NUM
cblr-1707	200	31	(	(	PUNCT
cblr-1707	200	32	4th	4th	ADJ
cblr-1707	200	33	ed	ed	NOUN
cblr-1707	200	34	.	.	PROPN
cblr-1707	200	35	2005	2005	NUM
cblr-1707	200	36	)	)	PUNCT
cblr-1707	200	37	;	;	PUNCT
cblr-1707	200	38	joseph	joseph	PROPN
cblr-1707	200	39	d.	d.	PROPN
cblr-1707	200	40	kearney	kearney	PROPN
cblr-1707	200	41	&	&	CCONJ
cblr-1707	200	42	thomas	thomas	PROPN
cblr-1707	200	43	w.	w.	PROPN
cblr-1707	200	44	merrill	merrill	PROPN
cblr-1707	200	45	,	,	PUNCT
cblr-1707	200	46	the	the	DET
cblr-1707	200	47	great	great	ADJ
cblr-1707	200	48	transformation	transformation	NOUN
cblr-1707	200	49	of	of	ADP
cblr-1707	200	50	regulated	regulated	ADJ
cblr-1707	200	51	industries	industry	NOUN
cblr-1707	200	52	law	law	NOUN
cblr-1707	200	53	,	,	PUNCT
cblr-1707	200	54	98	98	NUM
cblr-1707	200	55	colum	colum	NOUN
cblr-1707	200	56	.	.	PUNCT
cblr-1707	201	1	l.	l.	PROPN
cblr-1707	201	2	rev	rev	PROPN
cblr-1707	201	3	.	.	PROPN
cblr-1707	201	4	1323	1323	NUM
cblr-1707	201	5	,	,	PUNCT
cblr-1707	201	6	1327	1327	NUM
cblr-1707	201	7	(	(	PUNCT
cblr-1707	201	8	1998	1998	NUM
cblr-1707	201	9	)	)	PUNCT
cblr-1707	201	10	;	;	PUNCT
cblr-1707	201	11	.	.	X
cblr-1707	201	12	35	35	NUM
cblr-1707	201	13	harold	harold	PROPN
cblr-1707	201	14	demsetz	demsetz	PROPN
cblr-1707	201	15	,	,	PUNCT
cblr-1707	201	16	why	why	SCONJ
cblr-1707	201	17	regulate	regulate	VERB
cblr-1707	201	18	utilities	utility	NOUN
cblr-1707	201	19	?	?	PUNCT
cblr-1707	201	20	,	,	PUNCT
cblr-1707	201	21	11	11	NUM
cblr-1707	201	22	.	.	PUNCT
cblr-1707	202	1	j.l	j.l	PROPN
cblr-1707	202	2	.	.	PROPN
cblr-1707	202	3	&	&	CCONJ
cblr-1707	202	4	econ	econ	PROPN
cblr-1707	202	5	.	.	PUNCT
cblr-1707	203	1	55	55	NUM
cblr-1707	203	2	,	,	PUNCT
cblr-1707	203	3	56–57	56–57	NUM
cblr-1707	203	4	(	(	PUNCT
cblr-1707	203	5	1968	1968	NUM
cblr-1707	203	6	)	)	PUNCT
cblr-1707	203	7	.	.	PUNCT
cblr-1707	204	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	204	2	768	768	NUM
cblr-1707	204	3	columbia	columbia	PROPN
cblr-1707	204	4	business	business	NOUN
cblr-1707	204	5	law	law	NOUN
cblr-1707	204	6	review	review	NOUN
cblr-1707	205	1	[	[	X
cblr-1707	205	2	vol	vol	NOUN
cblr-1707	205	3	.	.	NOUN
cblr-1707	205	4	2018	2018	NUM
cblr-1707	205	5	scholars	scholar	NOUN
cblr-1707	205	6	have	have	AUX
cblr-1707	205	7	convincingly	convincingly	ADV
cblr-1707	205	8	argued	argue	VERB
cblr-1707	205	9	that	that	SCONJ
cblr-1707	205	10	this	this	DET
cblr-1707	205	11	explicit	explicit	ADJ
cblr-1707	205	12	long	long	ADJ
cblr-1707	205	13	-	-	PUNCT
cblr-1707	205	14	term	term	NOUN
cblr-1707	205	15	contracting	contracting	NOUN
cblr-1707	205	16	strategy	strategy	NOUN
cblr-1707	205	17	poses	pose	VERB
cblr-1707	205	18	serious	serious	ADJ
cblr-1707	205	19	difficulties	difficulty	NOUN
cblr-1707	205	20	,	,	PUNCT
cblr-1707	205	21	involving	involve	VERB
cblr-1707	205	22	such	such	ADJ
cblr-1707	205	23	issues	issue	NOUN
cblr-1707	205	24	as	as	ADP
cblr-1707	205	25	contractual	contractual	ADJ
cblr-1707	205	26	incompleteness	incompleteness	NOUN
cblr-1707	205	27	and	and	CCONJ
cblr-1707	205	28	uncertainty.36	uncertainty.36	ADJ
cblr-1707	205	29	still	still	ADV
cblr-1707	205	30	,	,	PUNCT
cblr-1707	205	31	experts	expert	NOUN
cblr-1707	205	32	have	have	AUX
cblr-1707	205	33	continued	continue	VERB
cblr-1707	205	34	to	to	PART
cblr-1707	205	35	use	use	VERB
cblr-1707	205	36	the	the	DET
cblr-1707	205	37	procurement	procurement	NOUN
cblr-1707	205	38	-	-	PUNCT
cblr-1707	205	39	contracting	contracting	NOUN
cblr-1707	205	40	or	or	CCONJ
cblr-1707	205	41	outsourcing	outsourcing	NOUN
cblr-1707	205	42	framework	framework	NOUN
cblr-1707	205	43	as	as	ADP
cblr-1707	205	44	an	an	DET
cblr-1707	205	45	analytical	analytical	ADJ
cblr-1707	205	46	device	device	NOUN
cblr-1707	205	47	in	in	ADP
cblr-1707	205	48	the	the	DET
cblr-1707	205	49	area	area	NOUN
cblr-1707	205	50	of	of	ADP
cblr-1707	205	51	infrastructure	infrastructure	NOUN
cblr-1707	205	52	regulation.37	regulation.37	PROPN
cblr-1707	205	53	notably	notably	ADV
cblr-1707	205	54	,	,	PUNCT
cblr-1707	205	55	the	the	DET
cblr-1707	205	56	three	three	NUM
cblr-1707	205	57	regulatory	regulatory	ADJ
cblr-1707	205	58	devices	device	NOUN
cblr-1707	205	59	just	just	ADV
cblr-1707	205	60	mentioned	mention	VERB
cblr-1707	205	61	—	—	PUNCT
cblr-1707	205	62	rate	rate	NOUN
cblr-1707	205	63	regulation	regulation	NOUN
cblr-1707	205	64	,	,	PUNCT
cblr-1707	205	65	entry	entry	NOUN
cblr-1707	205	66	restriction	restriction	NOUN
cblr-1707	205	67	,	,	PUNCT
cblr-1707	205	68	and	and	CCONJ
cblr-1707	205	69	universal	universal	ADJ
cblr-1707	205	70	service	service	NOUN
cblr-1707	205	71	requirements	requirement	NOUN
cblr-1707	205	72	—	—	PUNCT
cblr-1707	205	73	feature	feature	VERB
cblr-1707	205	74	prominently	prominently	ADV
cblr-1707	205	75	in	in	ADP
cblr-1707	205	76	infrastructure	infrastructure	NOUN
cblr-1707	205	77	regulation	regulation	NOUN
cblr-1707	205	78	.	.	PUNCT
cblr-1707	206	1	when	when	SCONJ
cblr-1707	206	2	it	it	PRON
cblr-1707	206	3	comes	come	VERB
cblr-1707	206	4	to	to	ADP
cblr-1707	206	5	banking	banking	NOUN
cblr-1707	206	6	,	,	PUNCT
cblr-1707	206	7	each	each	PRON
cblr-1707	206	8	of	of	ADP
cblr-1707	206	9	these	these	DET
cblr-1707	206	10	devices	device	NOUN
cblr-1707	206	11	is	be	AUX
cblr-1707	206	12	highly	highly	ADV
cblr-1707	206	13	suspect	suspect	ADJ
cblr-1707	206	14	under	under	ADP
cblr-1707	206	15	the	the	DET
cblr-1707	206	16	intermediation	intermediation	NOUN
cblr-1707	206	17	paradigm	paradigm	NOUN
cblr-1707	206	18	but	but	CCONJ
cblr-1707	206	19	can	can	AUX
cblr-1707	206	20	be	be	AUX
cblr-1707	206	21	readily	readily	ADV
cblr-1707	206	22	entertained	entertain	VERB
cblr-1707	206	23	under	under	ADP
cblr-1707	206	24	the	the	DET
cblr-1707	206	25	money	money	NOUN
cblr-1707	206	26	paradigm	paradigm	NOUN
cblr-1707	206	27	.	.	PUNCT
cblr-1707	207	1	the	the	DET
cblr-1707	207	2	implication	implication	NOUN
cblr-1707	207	3	is	be	AUX
cblr-1707	207	4	startling	startling	ADJ
cblr-1707	207	5	:	:	PUNCT
cblr-1707	207	6	insofar	insofar	ADV
cblr-1707	207	7	as	as	SCONJ
cblr-1707	207	8	the	the	DET
cblr-1707	207	9	money	money	NOUN
cblr-1707	207	10	paradigm	paradigm	NOUN
cblr-1707	207	11	has	have	VERB
cblr-1707	207	12	merit	merit	NOUN
cblr-1707	207	13	,	,	PUNCT
cblr-1707	207	14	bank	bank	NOUN
cblr-1707	207	15	regulation	regulation	NOUN
cblr-1707	207	16	may	may	AUX
cblr-1707	207	17	have	have	VERB
cblr-1707	207	18	very	very	ADV
cblr-1707	207	19	little	little	ADJ
cblr-1707	207	20	in	in	ADP
cblr-1707	207	21	common	common	ADJ
cblr-1707	207	22	with	with	ADP
cblr-1707	207	23	,	,	PUNCT
cblr-1707	207	24	say	say	INTJ
cblr-1707	207	25	,	,	PUNCT
cblr-1707	207	26	mutual	mutual	ADJ
cblr-1707	207	27	fund	fund	NOUN
cblr-1707	207	28	regulation	regulation	NOUN
cblr-1707	207	29	,	,	PUNCT
cblr-1707	207	30	in	in	ADP
cblr-1707	207	31	which	which	PRON
cblr-1707	207	32	financial	financial	ADJ
cblr-1707	207	33	intermediation	intermediation	NOUN
cblr-1707	207	34	is	be	AUX
cblr-1707	207	35	paramount	paramount	ADJ
cblr-1707	207	36	.	.	PUNCT
cblr-1707	208	1	bank	bank	NOUN
cblr-1707	208	2	regulation	regulation	NOUN
cblr-1707	208	3	instead	instead	ADV
cblr-1707	208	4	becomes	become	VERB
cblr-1707	208	5	a	a	DET
cblr-1707	208	6	subfield	subfield	NOUN
cblr-1707	208	7	of	of	ADP
cblr-1707	208	8	public	public	ADJ
cblr-1707	208	9	utility	utility	NOUN
cblr-1707	208	10	and	and	CCONJ
cblr-1707	208	11	common	common	ADJ
cblr-1707	208	12	carrier	carrier	NOUN
cblr-1707	208	13	36	36	NUM
cblr-1707	208	14	see	see	VERB
cblr-1707	208	15	,	,	PUNCT
cblr-1707	208	16	e.g.	e.g.	ADV
cblr-1707	208	17	,	,	PUNCT
cblr-1707	208	18	keith	keith	PROPN
cblr-1707	208	19	j.	j.	PROPN
cblr-1707	208	20	crocker	crocker	PROPN
cblr-1707	208	21	&	&	CCONJ
cblr-1707	208	22	scott	scott	PROPN
cblr-1707	208	23	e.	e.	PROPN
cblr-1707	208	24	masten	masten	PROPN
cblr-1707	208	25	,	,	PUNCT
cblr-1707	208	26	regulation	regulation	NOUN
cblr-1707	208	27	and	and	CCONJ
cblr-1707	208	28	administered	administer	VERB
cblr-1707	208	29	contracts	contract	NOUN
cblr-1707	208	30	revisited	revisit	VERB
cblr-1707	208	31	:	:	PUNCT
cblr-1707	208	32	lessons	lesson	NOUN
cblr-1707	208	33	from	from	ADP
cblr-1707	208	34	transaction	transaction	NOUN
cblr-1707	208	35	-	-	PUNCT
cblr-1707	208	36	cost	cost	NOUN
cblr-1707	208	37	economics	economic	NOUN
cblr-1707	208	38	for	for	ADP
cblr-1707	208	39	public	public	ADJ
cblr-1707	208	40	utility	utility	NOUN
cblr-1707	208	41	regulation	regulation	NOUN
cblr-1707	208	42	,	,	PUNCT
cblr-1707	208	43	9	9	NUM
cblr-1707	208	44	j.	j.	NOUN
cblr-1707	208	45	reg	reg	PROPN
cblr-1707	208	46	.	.	PUNCT
cblr-1707	209	1	econ	econ	PROPN
cblr-1707	209	2	.	.	PUNCT
cblr-1707	210	1	5	5	NUM
cblr-1707	210	2	,	,	PUNCT
cblr-1707	210	3	9	9	NUM
cblr-1707	210	4	,	,	PUNCT
cblr-1707	210	5	18	18	NUM
cblr-1707	210	6	(	(	PUNCT
cblr-1707	210	7	1996	1996	NUM
cblr-1707	210	8	)	)	PUNCT
cblr-1707	210	9	;	;	PUNCT
cblr-1707	210	10	victor	victor	PROPN
cblr-1707	210	11	p.	p.	PROPN
cblr-1707	210	12	goldberg	goldberg	PROPN
cblr-1707	210	13	,	,	PUNCT
cblr-1707	210	14	regulation	regulation	NOUN
cblr-1707	210	15	and	and	CCONJ
cblr-1707	210	16	administered	administer	VERB
cblr-1707	210	17	contracts	contract	NOUN
cblr-1707	210	18	,	,	PUNCT
cblr-1707	210	19	7	7	NUM
cblr-1707	210	20	bell	bell	PROPN
cblr-1707	210	21	j.	j.	PROPN
cblr-1707	210	22	econ	econ	PROPN
cblr-1707	210	23	.	.	PROPN
cblr-1707	211	1	426	426	NUM
cblr-1707	211	2	,	,	PUNCT
cblr-1707	211	3	428	428	NUM
cblr-1707	211	4	,	,	PUNCT
cblr-1707	211	5	444	444	NUM
cblr-1707	211	6	(	(	PUNCT
cblr-1707	211	7	1976	1976	NUM
cblr-1707	211	8	)	)	PUNCT
cblr-1707	211	9	;	;	PUNCT
cblr-1707	212	1	george	george	PROPN
cblr-1707	212	2	l.	l.	PROPN
cblr-1707	212	3	priest	priest	PROPN
cblr-1707	212	4	,	,	PUNCT
cblr-1707	212	5	the	the	DET
cblr-1707	212	6	origins	origin	NOUN
cblr-1707	212	7	of	of	ADP
cblr-1707	212	8	utility	utility	NOUN
cblr-1707	212	9	regulation	regulation	NOUN
cblr-1707	212	10	and	and	CCONJ
cblr-1707	212	11	the	the	DET
cblr-1707	212	12	“	"	PUNCT
cblr-1707	212	13	theories	theory	NOUN
cblr-1707	212	14	of	of	ADP
cblr-1707	212	15	regulation	regulation	NOUN
cblr-1707	212	16	”	"	PUNCT
cblr-1707	212	17	debate	debate	NOUN
cblr-1707	212	18	,	,	PUNCT
cblr-1707	212	19	36	36	NUM
cblr-1707	212	20	j.l	j.l	PROPN
cblr-1707	212	21	.	.	PROPN
cblr-1707	212	22	&	&	CCONJ
cblr-1707	212	23	econ	econ	PROPN
cblr-1707	212	24	.	.	PUNCT
cblr-1707	213	1	289	289	NUM
cblr-1707	213	2	,	,	PUNCT
cblr-1707	213	3	302	302	NUM
cblr-1707	213	4	(	(	PUNCT
cblr-1707	213	5	1993	1993	NUM
cblr-1707	213	6	)	)	PUNCT
cblr-1707	213	7	;	;	PUNCT
cblr-1707	213	8	oliver	oliver	PROPN
cblr-1707	213	9	e.	e.	PROPN
cblr-1707	213	10	williamson	williamson	PROPN
cblr-1707	213	11	,	,	PUNCT
cblr-1707	213	12	franchise	franchise	NOUN
cblr-1707	213	13	bidding	bidding	NOUN
cblr-1707	213	14	and	and	CCONJ
cblr-1707	213	15	natural	natural	ADJ
cblr-1707	213	16	monopolies	monopoly	NOUN
cblr-1707	213	17	—	—	PUNCT
cblr-1707	213	18	in	in	ADP
cblr-1707	213	19	general	general	ADJ
cblr-1707	213	20	and	and	CCONJ
cblr-1707	213	21	with	with	ADP
cblr-1707	213	22	respect	respect	NOUN
cblr-1707	213	23	to	to	ADP
cblr-1707	213	24	catv	catv	PROPN
cblr-1707	213	25	,	,	PUNCT
cblr-1707	213	26	7	7	NUM
cblr-1707	213	27	bell	bell	PROPN
cblr-1707	213	28	j.	j.	PROPN
cblr-1707	213	29	econ	econ	PROPN
cblr-1707	213	30	.	.	PUNCT
cblr-1707	214	1	73	73	NUM
cblr-1707	214	2	,	,	PUNCT
cblr-1707	214	3	80–82	80–82	NUM
cblr-1707	214	4	(	(	PUNCT
cblr-1707	214	5	1976	1976	NUM
cblr-1707	214	6	)	)	PUNCT
cblr-1707	214	7	.	.	PUNCT
cblr-1707	215	1	37	37	NUM
cblr-1707	215	2	see	see	VERB
cblr-1707	215	3	,	,	PUNCT
cblr-1707	215	4	e.g.	e.g.	ADV
cblr-1707	215	5	,	,	PUNCT
cblr-1707	215	6	josé	josé	PROPN
cblr-1707	215	7	a.	a.	PROPN
cblr-1707	215	8	gómez	gómez	PROPN
cblr-1707	215	9	-	-	PUNCT
cblr-1707	215	10	ibáñez	ibáñez	NOUN
cblr-1707	215	11	,	,	PUNCT
cblr-1707	215	12	regulating	regulate	VERB
cblr-1707	215	13	infrastructure	infrastructure	NOUN
cblr-1707	215	14	:	:	PUNCT
cblr-1707	215	15	monopoly	monopoly	NOUN
cblr-1707	215	16	,	,	PUNCT
cblr-1707	215	17	contracts	contract	NOUN
cblr-1707	215	18	,	,	PUNCT
cblr-1707	215	19	and	and	CCONJ
cblr-1707	215	20	discretion	discretion	NOUN
cblr-1707	215	21	3	3	NUM
cblr-1707	215	22	(	(	PUNCT
cblr-1707	215	23	2003	2003	NUM
cblr-1707	215	24	)	)	PUNCT
cblr-1707	215	25	(	(	PUNCT
cblr-1707	215	26	“	"	PUNCT
cblr-1707	215	27	[	[	X
cblr-1707	215	28	t]he	t]he	ADJ
cblr-1707	215	29	problem	problem	NOUN
cblr-1707	215	30	of	of	ADP
cblr-1707	215	31	infrastructure	infrastructure	NOUN
cblr-1707	215	32	monopoly	monopoly	NOUN
cblr-1707	215	33	is	be	AUX
cblr-1707	215	34	similar	similar	ADJ
cblr-1707	215	35	to	to	ADP
cblr-1707	215	36	any	any	DET
cblr-1707	215	37	other	other	ADJ
cblr-1707	215	38	long	long	ADJ
cblr-1707	215	39	-	-	PUNCT
cblr-1707	215	40	term	term	NOUN
cblr-1707	215	41	contracting	contracting	NOUN
cblr-1707	215	42	problem	problem	NOUN
cblr-1707	215	43	,	,	PUNCT
cblr-1707	215	44	and	and	CCONJ
cblr-1707	215	45	particularly	particularly	ADV
cblr-1707	215	46	analogous	analogous	ADJ
cblr-1707	215	47	to	to	ADP
cblr-1707	215	48	contracting	contract	VERB
cblr-1707	215	49	in	in	ADP
cblr-1707	215	50	private	private	ADJ
cblr-1707	215	51	sector	sector	NOUN
cblr-1707	215	52	procurement	procurement	NOUN
cblr-1707	215	53	.	.	PUNCT
cblr-1707	215	54	”	"	PUNCT
cblr-1707	215	55	)	)	PUNCT
cblr-1707	215	56	;	;	PUNCT
cblr-1707	215	57	paul	paul	PROPN
cblr-1707	215	58	l.	l.	PROPN
cblr-1707	215	59	joskow	joskow	PROPN
cblr-1707	215	60	,	,	PUNCT
cblr-1707	215	61	the	the	DET
cblr-1707	215	62	role	role	NOUN
cblr-1707	215	63	of	of	ADP
cblr-1707	215	64	transaction	transaction	NOUN
cblr-1707	215	65	cost	cost	VERB
cblr-1707	215	66	economics	economic	NOUN
cblr-1707	215	67	in	in	ADP
cblr-1707	215	68	antitrust	antitrust	ADJ
cblr-1707	215	69	and	and	CCONJ
cblr-1707	215	70	public	public	ADJ
cblr-1707	215	71	utility	utility	NOUN
cblr-1707	215	72	regulatory	regulatory	ADJ
cblr-1707	215	73	policies	policy	NOUN
cblr-1707	215	74	,	,	PUNCT
cblr-1707	215	75	7	7	NUM
cblr-1707	215	76	j.l	j.l	PROPN
cblr-1707	215	77	.	.	PROPN
cblr-1707	215	78	econ	econ	PROPN
cblr-1707	215	79	.	.	PROPN
cblr-1707	215	80	&	&	CCONJ
cblr-1707	215	81	org	org	PROPN
cblr-1707	215	82	.	.	PROPN
cblr-1707	216	1	53	53	NUM
cblr-1707	216	2	,	,	PUNCT
cblr-1707	216	3	66	66	NUM
cblr-1707	216	4	(	(	PUNCT
cblr-1707	216	5	1991	1991	NUM
cblr-1707	216	6	)	)	PUNCT
cblr-1707	216	7	(	(	PUNCT
cblr-1707	216	8	“	"	PUNCT
cblr-1707	216	9	[	[	X
cblr-1707	216	10	t]he	t]he	ADV
cblr-1707	216	11	set	set	NOUN
cblr-1707	216	12	of	of	ADP
cblr-1707	216	13	regulatory	regulatory	ADJ
cblr-1707	216	14	rules	rule	NOUN
cblr-1707	216	15	and	and	CCONJ
cblr-1707	216	16	procedures	procedure	NOUN
cblr-1707	216	17	that	that	PRON
cblr-1707	216	18	determine	determine	VERB
cblr-1707	216	19	the	the	DET
cblr-1707	216	20	prices	price	NOUN
cblr-1707	216	21	that	that	PRON
cblr-1707	216	22	a	a	DET
cblr-1707	216	23	regulated	regulated	ADJ
cblr-1707	216	24	firm	firm	NOUN
cblr-1707	216	25	can	can	AUX
cblr-1707	216	26	charge	charge	VERB
cblr-1707	216	27	are	be	AUX
cblr-1707	216	28	usefully	usefully	ADV
cblr-1707	216	29	conceptualized	conceptualize	VERB
cblr-1707	216	30	as	as	ADP
cblr-1707	216	31	a	a	DET
cblr-1707	216	32	set	set	NOUN
cblr-1707	216	33	of	of	ADP
cblr-1707	216	34	incentive	incentive	NOUN
cblr-1707	216	35	or	or	CCONJ
cblr-1707	216	36	procurement	procurement	NOUN
cblr-1707	216	37	contracts	contract	NOUN
cblr-1707	216	38	that	that	PRON
cblr-1707	216	39	link	link	VERB
cblr-1707	216	40	the	the	DET
cblr-1707	216	41	regulator	regulator	NOUN
cblr-1707	216	42	as	as	ADP
cblr-1707	216	43	a	a	DET
cblr-1707	216	44	principal	principal	NOUN
cblr-1707	216	45	seeking	seek	VERB
cblr-1707	216	46	to	to	PART
cblr-1707	216	47	achieve	achieve	VERB
cblr-1707	216	48	some	some	DET
cblr-1707	216	49	social	social	ADJ
cblr-1707	216	50	or	or	CCONJ
cblr-1707	216	51	political	political	ADJ
cblr-1707	216	52	objective	objective	NOUN
cblr-1707	216	53	and	and	CCONJ
cblr-1707	216	54	the	the	DET
cblr-1707	216	55	regulated	regulated	ADJ
cblr-1707	216	56	firm	firm	NOUN
cblr-1707	216	57	as	as	SCONJ
cblr-1707	216	58	the	the	DET
cblr-1707	216	59	agent	agent	NOUN
cblr-1707	216	60	supplying	supply	VERB
cblr-1707	216	61	goods	good	NOUN
cblr-1707	216	62	and	and	CCONJ
cblr-1707	216	63	services	service	NOUN
cblr-1707	216	64	[	[	X
cblr-1707	216	65	.	.	X
cblr-1707	216	66	]	]	X
cblr-1707	216	67	”	"	PUNCT
cblr-1707	216	68	)	)	PUNCT
cblr-1707	216	69	;	;	PUNCT
cblr-1707	216	70	paul	paul	PROPN
cblr-1707	216	71	l.	l.	PROPN
cblr-1707	216	72	joskow	joskow	PROPN
cblr-1707	216	73	&	&	CCONJ
cblr-1707	216	74	richard	richard	PROPN
cblr-1707	216	75	schmalensee	schmalensee	PROPN
cblr-1707	216	76	,	,	PUNCT
cblr-1707	216	77	incentive	incentive	NOUN
cblr-1707	216	78	regulation	regulation	NOUN
cblr-1707	216	79	for	for	ADP
cblr-1707	216	80	electric	electric	ADJ
cblr-1707	216	81	utilities	utility	NOUN
cblr-1707	216	82	,	,	PUNCT
cblr-1707	216	83	4	4	NUM
cblr-1707	216	84	yale	yale	NOUN
cblr-1707	216	85	j.	j.	PROPN
cblr-1707	216	86	on	on	ADP
cblr-1707	216	87	reg	reg	PROPN
cblr-1707	216	88	.	.	PROPN
cblr-1707	217	1	1	1	NUM
cblr-1707	217	2	,	,	PUNCT
cblr-1707	217	3	8	8	NUM
cblr-1707	217	4	(	(	PUNCT
cblr-1707	217	5	1986	1986	NUM
cblr-1707	217	6	)	)	PUNCT
cblr-1707	217	7	(	(	PUNCT
cblr-1707	217	8	“	"	PUNCT
cblr-1707	217	9	[	[	X
cblr-1707	217	10	i]t	i]t	NOUN
cblr-1707	217	11	is	be	AUX
cblr-1707	217	12	useful	useful	ADJ
cblr-1707	217	13	to	to	PART
cblr-1707	217	14	think	think	VERB
cblr-1707	217	15	of	of	ADP
cblr-1707	217	16	the	the	DET
cblr-1707	217	17	regulatory	regulatory	ADJ
cblr-1707	217	18	process	process	NOUN
cblr-1707	217	19	embodied	embody	VERB
cblr-1707	217	20	in	in	ADP
cblr-1707	217	21	established	establish	VERB
cblr-1707	217	22	regulatory	regulatory	ADJ
cblr-1707	217	23	procedures	procedure	NOUN
cblr-1707	217	24	as	as	ADP
cblr-1707	217	25	a	a	DET
cblr-1707	217	26	long	long	ADJ
cblr-1707	217	27	-	-	PUNCT
cblr-1707	217	28	term	term	NOUN
cblr-1707	217	29	‘	'	PUNCT
cblr-1707	217	30	regulatory	regulatory	ADJ
cblr-1707	217	31	contract	contract	NOUN
cblr-1707	217	32	’	'	PUNCT
cblr-1707	217	33	between	between	ADP
cblr-1707	217	34	electricity	electricity	NOUN
cblr-1707	217	35	customers	customer	NOUN
cblr-1707	217	36	,	,	PUNCT
cblr-1707	217	37	represented	represent	VERB
cblr-1707	217	38	by	by	ADP
cblr-1707	217	39	the	the	DET
cblr-1707	217	40	public	public	ADJ
cblr-1707	217	41	utility	utility	NOUN
cblr-1707	217	42	commission	commission	NOUN
cblr-1707	217	43	,	,	PUNCT
cblr-1707	217	44	and	and	CCONJ
cblr-1707	217	45	the	the	DET
cblr-1707	217	46	utility	utility	NOUN
cblr-1707	217	47	.	.	PUNCT
cblr-1707	217	48	”	"	PUNCT
cblr-1707	217	49	)	)	PUNCT
cblr-1707	217	50	.	.	PUNCT
cblr-1707	218	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	218	2	no	no	NOUN
cblr-1707	218	3	.	.	PUNCT
cblr-1707	219	1	3:757	3:757	NUM
cblr-1707	219	2	]	]	X
cblr-1707	219	3	money	money	NOUN
cblr-1707	219	4	as	as	ADP
cblr-1707	219	5	infrastructure	infrastructure	NOUN
cblr-1707	219	6	769	769	NUM
cblr-1707	219	7	regulation	regulation	NOUN
cblr-1707	219	8	.	.	PUNCT
cblr-1707	220	1	(	(	PUNCT
cblr-1707	220	2	it	it	PRON
cblr-1707	220	3	bears	bear	VERB
cblr-1707	220	4	emphasis	emphasis	NOUN
cblr-1707	220	5	that	that	SCONJ
cblr-1707	220	6	banks	bank	NOUN
cblr-1707	220	7	’	'	PUNCT
cblr-1707	220	8	legal	legal	ADJ
cblr-1707	220	9	monopoly	monopoly	NOUN
cblr-1707	220	10	has	have	AUX
cblr-1707	220	11	nothing	nothing	PRON
cblr-1707	220	12	to	to	PART
cblr-1707	220	13	do	do	VERB
cblr-1707	220	14	with	with	ADP
cblr-1707	220	15	lending	lending	NOUN
cblr-1707	220	16	—	—	PUNCT
cblr-1707	220	17	anyone	anyone	PRON
cblr-1707	220	18	can	can	AUX
cblr-1707	220	19	lend	lend	VERB
cblr-1707	220	20	—	—	PUNCT
cblr-1707	220	21	but	but	CCONJ
cblr-1707	220	22	rather	rather	ADV
cblr-1707	220	23	with	with	ADP
cblr-1707	220	24	the	the	DET
cblr-1707	220	25	provision	provision	NOUN
cblr-1707	220	26	of	of	ADP
cblr-1707	220	27	“	"	PUNCT
cblr-1707	220	28	deposit	deposit	NOUN
cblr-1707	220	29	”	"	PUNCT
cblr-1707	220	30	accounts,38	accounts,38	NOUN
cblr-1707	220	31	which	which	PRON
cblr-1707	220	32	are	be	AUX
cblr-1707	220	33	widely	widely	ADV
cblr-1707	220	34	acknowledged	acknowledge	VERB
cblr-1707	220	35	to	to	PART
cblr-1707	220	36	be	be	AUX
cblr-1707	220	37	a	a	DET
cblr-1707	220	38	form	form	NOUN
cblr-1707	220	39	of	of	ADP
cblr-1707	220	40	money	money	NOUN
cblr-1707	220	41	.	.	PUNCT
cblr-1707	220	42	)	)	PUNCT
cblr-1707	221	1	that	that	PRON
cblr-1707	221	2	bank	bank	NOUN
cblr-1707	221	3	regulation	regulation	NOUN
cblr-1707	221	4	and	and	CCONJ
cblr-1707	221	5	infrastructure	infrastructure	NOUN
cblr-1707	221	6	regulation	regulation	NOUN
cblr-1707	221	7	might	might	AUX
cblr-1707	221	8	enjoy	enjoy	VERB
cblr-1707	221	9	a	a	DET
cblr-1707	221	10	close	close	ADJ
cblr-1707	221	11	kinship	kinship	NOUN
cblr-1707	221	12	—	—	PUNCT
cblr-1707	221	13	as	as	SCONJ
cblr-1707	221	14	the	the	DET
cblr-1707	221	15	money	money	NOUN
cblr-1707	221	16	paradigm	paradigm	NOUN
cblr-1707	221	17	implies	imply	VERB
cblr-1707	221	18	—	—	PUNCT
cblr-1707	221	19	is	be	AUX
cblr-1707	221	20	seldom	seldom	ADV
cblr-1707	221	21	recognized	recognize	VERB
cblr-1707	221	22	in	in	ADP
cblr-1707	221	23	the	the	DET
cblr-1707	221	24	regulatory	regulatory	ADJ
cblr-1707	221	25	literature.39	literature.39	NOUN
cblr-1707	221	26	this	this	PRON
cblr-1707	221	27	is	be	AUX
cblr-1707	221	28	yet	yet	ADV
cblr-1707	221	29	another	another	DET
cblr-1707	221	30	sign	sign	NOUN
cblr-1707	221	31	of	of	ADP
cblr-1707	221	32	the	the	DET
cblr-1707	221	33	intermediation	intermediation	NOUN
cblr-1707	221	34	paradigm	paradigm	NOUN
cblr-1707	221	35	’s	’s	PART
cblr-1707	221	36	dominance	dominance	NOUN
cblr-1707	221	37	.	.	PUNCT
cblr-1707	222	1	unsurprisingly	unsurprisingly	ADV
cblr-1707	222	2	,	,	PUNCT
cblr-1707	222	3	the	the	DET
cblr-1707	222	4	features	feature	NOUN
cblr-1707	222	5	of	of	ADP
cblr-1707	222	6	u.s	u.s	PROPN
cblr-1707	222	7	.	.	PROPN
cblr-1707	222	8	bank	bank	PROPN
cblr-1707	222	9	regulation	regulation	NOUN
cblr-1707	222	10	most	most	ADV
cblr-1707	222	11	closely	closely	ADV
cblr-1707	222	12	resembling	resemble	VERB
cblr-1707	222	13	infrastructure	infrastructure	NOUN
cblr-1707	222	14	regulation	regulation	NOUN
cblr-1707	222	15	were	be	AUX
cblr-1707	222	16	curtailed	curtail	VERB
cblr-1707	222	17	decades	decade	NOUN
cblr-1707	222	18	ago	ago	ADV
cblr-1707	222	19	.	.	PUNCT
cblr-1707	223	1	with	with	ADP
cblr-1707	223	2	respect	respect	NOUN
cblr-1707	223	3	to	to	ADP
cblr-1707	223	4	entry	entry	NOUN
cblr-1707	223	5	restriction	restriction	NOUN
cblr-1707	223	6	,	,	PUNCT
cblr-1707	223	7	for	for	ADP
cblr-1707	223	8	example	example	NOUN
cblr-1707	223	9	,	,	PUNCT
cblr-1707	223	10	in	in	ADP
cblr-1707	223	11	1980	1980	NUM
cblr-1707	223	12	the	the	DET
cblr-1707	223	13	primary	primary	ADJ
cblr-1707	223	14	federal	federal	PROPN
cblr-1707	223	15	bank	bank	NOUN
cblr-1707	223	16	regulator	regulator	NOUN
cblr-1707	223	17	relaxed	relax	VERB
cblr-1707	223	18	its	its	PRON
cblr-1707	223	19	longstanding	longstanding	ADJ
cblr-1707	223	20	policy	policy	NOUN
cblr-1707	223	21	of	of	ADP
cblr-1707	223	22	granting	grant	VERB
cblr-1707	223	23	new	new	ADJ
cblr-1707	223	24	charters	charter	NOUN
cblr-1707	223	25	based	base	VERB
cblr-1707	223	26	on	on	ADP
cblr-1707	223	27	public	public	ADJ
cblr-1707	223	28	convenience	convenience	NOUN
cblr-1707	223	29	and	and	CCONJ
cblr-1707	223	30	necessity.40	necessity.40	NOUN
cblr-1707	223	31	it	it	PRON
cblr-1707	223	32	concluded	conclude	VERB
cblr-1707	223	33	instead	instead	ADV
cblr-1707	223	34	that	that	SCONJ
cblr-1707	223	35	“	"	PUNCT
cblr-1707	223	36	the	the	DET
cblr-1707	223	37	marketplace	marketplace	NOUN
cblr-1707	223	38	normally	normally	ADV
cblr-1707	223	39	is	be	AUX
cblr-1707	223	40	the	the	DET
cblr-1707	223	41	best	good	ADJ
cblr-1707	223	42	regulator	regulator	NOUN
cblr-1707	223	43	of	of	ADP
cblr-1707	223	44	economic	economic	ADJ
cblr-1707	223	45	activity	activity	NOUN
cblr-1707	223	46	;	;	PUNCT
cblr-1707	223	47	and	and	CCONJ
cblr-1707	223	48	competition	competition	NOUN
cblr-1707	223	49	allows	allow	VERB
cblr-1707	223	50	the	the	DET
cblr-1707	223	51	marketplace	marketplace	NOUN
cblr-1707	223	52	to	to	PART
cblr-1707	223	53	function[.]”41	function[.]”41	VERB
cblr-1707	223	54	as	as	ADP
cblr-1707	223	55	for	for	ADP
cblr-1707	223	56	rate	rate	NOUN
cblr-1707	223	57	regulation	regulation	NOUN
cblr-1707	223	58	,	,	PUNCT
cblr-1707	223	59	the	the	DET
cblr-1707	223	60	story	story	NOUN
cblr-1707	223	61	is	be	AUX
cblr-1707	223	62	well	well	ADV
cblr-1707	223	63	known	known	ADJ
cblr-1707	223	64	to	to	ADP
cblr-1707	223	65	students	student	NOUN
cblr-1707	223	66	of	of	ADP
cblr-1707	223	67	banking	banking	NOUN
cblr-1707	223	68	history	history	NOUN
cblr-1707	223	69	.	.	PUNCT
cblr-1707	224	1	the	the	DET
cblr-1707	224	2	new	new	ADJ
cblr-1707	224	3	deal	deal	NOUN
cblr-1707	224	4	system	system	NOUN
cblr-1707	224	5	of	of	ADP
cblr-1707	224	6	bank	bank	NOUN
cblr-1707	224	7	regulation	regulation	NOUN
cblr-1707	224	8	imposed	impose	VERB
cblr-1707	224	9	controls	control	NOUN
cblr-1707	224	10	on	on	ADP
cblr-1707	224	11	deposit	deposit	NOUN
cblr-1707	224	12	interest	interest	NOUN
cblr-1707	224	13	rates	rate	NOUN
cblr-1707	224	14	,	,	PUNCT
cblr-1707	224	15	known	know	VERB
cblr-1707	224	16	as	as	ADP
cblr-1707	224	17	regulation	regulation	NOUN
cblr-1707	224	18	q.	q.	NOUN
cblr-1707	224	19	these	these	DET
cblr-1707	224	20	controls	control	NOUN
cblr-1707	224	21	were	be	AUX
cblr-1707	224	22	largely	largely	ADV
cblr-1707	224	23	phased	phase	VERB
cblr-1707	224	24	out	out	ADP
cblr-1707	224	25	in	in	ADP
cblr-1707	224	26	the	the	DET
cblr-1707	224	27	1980s.42	1980s.42	NUM
cblr-1707	224	28	the	the	DET
cblr-1707	224	29	direction	direction	NOUN
cblr-1707	224	30	of	of	ADP
cblr-1707	224	31	post	post	ADJ
cblr-1707	224	32	-	-	ADJ
cblr-1707	224	33	new	new	ADJ
cblr-1707	224	34	deal	deal	NOUN
cblr-1707	224	35	banking	banking	NOUN
cblr-1707	224	36	law	law	NOUN
cblr-1707	224	37	,	,	PUNCT
cblr-1707	224	38	then	then	ADV
cblr-1707	224	39	,	,	PUNCT
cblr-1707	224	40	has	have	AUX
cblr-1707	224	41	generally	generally	ADV
cblr-1707	224	42	been	be	AUX
cblr-1707	224	43	to	to	PART
cblr-1707	224	44	shed	shed	VERB
cblr-1707	224	45	features	feature	NOUN
cblr-1707	224	46	resembling	resemble	VERB
cblr-1707	224	47	infrastructure	infrastructure	NOUN
cblr-1707	224	48	regulation	regulation	NOUN
cblr-1707	224	49	.	.	PUNCT
cblr-1707	225	1	in	in	ADP
cblr-1707	225	2	the	the	DET
cblr-1707	225	3	academic	academic	ADJ
cblr-1707	225	4	literature	literature	NOUN
cblr-1707	225	5	,	,	PUNCT
cblr-1707	225	6	these	these	DET
cblr-1707	225	7	departures	departure	NOUN
cblr-1707	225	8	have	have	AUX
cblr-1707	225	9	gone	go	VERB
cblr-1707	225	10	almost	almost	ADV
cblr-1707	225	11	completely	completely	ADV
cblr-1707	225	12	unlamented	unlamented	ADJ
cblr-1707	225	13	.	.	PUNCT
cblr-1707	226	1	38	38	NUM
cblr-1707	226	2	see	see	VERB
cblr-1707	226	3	12	12	NUM
cblr-1707	226	4	u.s.c	u.s.c	ADJ
cblr-1707	226	5	.	.	PUNCT
cblr-1707	227	1	§	§	PROPN
cblr-1707	227	2	378(a)(2	378(a)(2	NUM
cblr-1707	227	3	)	)	PUNCT
cblr-1707	227	4	(	(	PUNCT
cblr-1707	227	5	2012	2012	NUM
cblr-1707	227	6	)	)	PUNCT
cblr-1707	227	7	.	.	PUNCT
cblr-1707	228	1	39	39	NUM
cblr-1707	229	1	this	this	PRON
cblr-1707	229	2	is	be	AUX
cblr-1707	229	3	not	not	PART
cblr-1707	229	4	to	to	PART
cblr-1707	229	5	say	say	VERB
cblr-1707	229	6	that	that	SCONJ
cblr-1707	229	7	it	it	PRON
cblr-1707	229	8	is	be	AUX
cblr-1707	229	9	never	never	ADV
cblr-1707	229	10	recognized	recognize	VERB
cblr-1707	229	11	.	.	PUNCT
cblr-1707	230	1	see	see	VERB
cblr-1707	230	2	daniel	daniel	PROPN
cblr-1707	230	3	r.	r.	PROPN
cblr-1707	230	4	fischel	fischel	PROPN
cblr-1707	230	5	,	,	PUNCT
cblr-1707	230	6	andrew	andrew	PROPN
cblr-1707	230	7	m.	m.	PROPN
cblr-1707	230	8	rosenfield	rosenfield	PROPN
cblr-1707	230	9	&	&	CCONJ
cblr-1707	230	10	robert	robert	PROPN
cblr-1707	230	11	s.	s.	PROPN
cblr-1707	230	12	stillman	stillman	PROPN
cblr-1707	230	13	,	,	PUNCT
cblr-1707	230	14	the	the	DET
cblr-1707	230	15	regulation	regulation	NOUN
cblr-1707	230	16	of	of	ADP
cblr-1707	230	17	banks	bank	NOUN
cblr-1707	230	18	and	and	CCONJ
cblr-1707	230	19	bank	bank	NOUN
cblr-1707	230	20	holding	hold	VERB
cblr-1707	230	21	companies	company	NOUN
cblr-1707	230	22	,	,	PUNCT
cblr-1707	230	23	73	73	NUM
cblr-1707	230	24	va	va	NOUN
cblr-1707	230	25	.	.	PUNCT
cblr-1707	231	1	l.	l.	PROPN
cblr-1707	231	2	rev	rev	PROPN
cblr-1707	231	3	.	.	PROPN
cblr-1707	231	4	301	301	NUM
cblr-1707	231	5	,	,	PUNCT
cblr-1707	231	6	302–03	302–03	PROPN
cblr-1707	231	7	(	(	PUNCT
cblr-1707	231	8	1987	1987	NUM
cblr-1707	231	9	)	)	PUNCT
cblr-1707	231	10	(	(	PUNCT
cblr-1707	231	11	“	"	PUNCT
cblr-1707	231	12	[	[	X
cblr-1707	231	13	w]hat	w]hat	X
cblr-1707	231	14	is	be	AUX
cblr-1707	231	15	most	most	ADV
cblr-1707	231	16	striking	striking	ADJ
cblr-1707	231	17	about	about	ADP
cblr-1707	231	18	the	the	DET
cblr-1707	231	19	new	new	ADJ
cblr-1707	231	20	deal	deal	NOUN
cblr-1707	231	21	program	program	NOUN
cblr-1707	231	22	of	of	ADP
cblr-1707	231	23	banking	banking	NOUN
cblr-1707	231	24	regulation	regulation	NOUN
cblr-1707	231	25	is	be	AUX
cblr-1707	231	26	its	its	PRON
cblr-1707	231	27	similarity	similarity	NOUN
cblr-1707	231	28	to	to	ADP
cblr-1707	231	29	the	the	DET
cblr-1707	231	30	programs	program	NOUN
cblr-1707	231	31	of	of	ADP
cblr-1707	231	32	public	public	ADJ
cblr-1707	231	33	utility	utility	NOUN
cblr-1707	231	34	and	and	CCONJ
cblr-1707	231	35	common	common	ADJ
cblr-1707	231	36	carrier	carrier	NOUN
cblr-1707	231	37	regulation	regulation	NOUN
cblr-1707	231	38	,	,	PUNCT
cblr-1707	231	39	many	many	ADJ
cblr-1707	231	40	of	of	ADP
cblr-1707	231	41	which	which	PRON
cblr-1707	231	42	.	.	PUNCT
cblr-1707	231	43	.	.	PUNCT
cblr-1707	232	1	.	.	PUNCT
cblr-1707	233	1	were	be	AUX
cblr-1707	233	2	established	establish	VERB
cblr-1707	233	3	during	during	ADP
cblr-1707	233	4	the	the	DET
cblr-1707	233	5	same	same	ADJ
cblr-1707	233	6	period	period	NOUN
cblr-1707	233	7	.	.	PUNCT
cblr-1707	233	8	”	"	PUNCT
cblr-1707	233	9	)	)	PUNCT
cblr-1707	233	10	.	.	PUNCT
cblr-1707	234	1	for	for	ADP
cblr-1707	234	2	a	a	DET
cblr-1707	234	3	more	more	ADV
cblr-1707	234	4	recent	recent	ADJ
cblr-1707	234	5	treatment	treatment	NOUN
cblr-1707	234	6	that	that	PRON
cblr-1707	234	7	focuses	focus	VERB
cblr-1707	234	8	on	on	ADP
cblr-1707	234	9	financial	financial	ADJ
cblr-1707	234	10	stability	stability	NOUN
cblr-1707	234	11	issues	issue	NOUN
cblr-1707	234	12	,	,	PUNCT
cblr-1707	234	13	see	see	VERB
cblr-1707	234	14	prasad	prasad	PROPN
cblr-1707	234	15	krishnamurthy	krishnamurthy	PROPN
cblr-1707	234	16	,	,	PUNCT
cblr-1707	234	17	george	george	NOUN
cblr-1707	234	18	stigler	stigler	NOUN
cblr-1707	234	19	on	on	ADP
cblr-1707	234	20	his	his	PRON
cblr-1707	234	21	head	head	NOUN
cblr-1707	234	22	:	:	PUNCT
cblr-1707	234	23	the	the	DET
cblr-1707	234	24	consequences	consequence	NOUN
cblr-1707	234	25	of	of	ADP
cblr-1707	234	26	restrictions	restriction	NOUN
cblr-1707	234	27	on	on	ADP
cblr-1707	234	28	competition	competition	NOUN
cblr-1707	234	29	in	in	ADP
cblr-1707	234	30	(	(	PUNCT
cblr-1707	234	31	bank	bank	NOUN
cblr-1707	234	32	)	)	PUNCT
cblr-1707	234	33	regulation	regulation	NOUN
cblr-1707	234	34	,	,	PUNCT
cblr-1707	234	35	35	35	NUM
cblr-1707	234	36	yale	yale	NOUN
cblr-1707	234	37	j.	j.	PROPN
cblr-1707	234	38	on	on	ADP
cblr-1707	234	39	reg	reg	PROPN
cblr-1707	234	40	.	.	PROPN
cblr-1707	235	1	823	823	NUM
cblr-1707	235	2	,	,	PUNCT
cblr-1707	235	3	844	844	NUM
cblr-1707	235	4	,	,	PUNCT
cblr-1707	235	5	849	849	NUM
cblr-1707	235	6	(	(	PUNCT
cblr-1707	235	7	2018	2018	NUM
cblr-1707	235	8	)	)	PUNCT
cblr-1707	235	9	.	.	PUNCT
cblr-1707	236	1	40	40	NUM
cblr-1707	236	2	see	see	VERB
cblr-1707	236	3	infra	infra	NOUN
cblr-1707	236	4	notes	note	VERB
cblr-1707	236	5	183–193	183–193	NUM
cblr-1707	236	6	and	and	CCONJ
cblr-1707	236	7	accompanying	accompany	VERB
cblr-1707	236	8	text	text	NOUN
cblr-1707	236	9	.	.	PUNCT
cblr-1707	237	1	41	41	NUM
cblr-1707	237	2	clarification	clarification	NOUN
cblr-1707	237	3	and	and	CCONJ
cblr-1707	237	4	revision	revision	NOUN
cblr-1707	237	5	of	of	ADP
cblr-1707	237	6	charter	charter	NOUN
cblr-1707	237	7	policy	policy	NOUN
cblr-1707	237	8	,	,	PUNCT
cblr-1707	237	9	45	45	NUM
cblr-1707	237	10	fed	feed	VERB
cblr-1707	237	11	.	.	PUNCT
cblr-1707	238	1	reg	reg	PROPN
cblr-1707	238	2	.	.	PUNCT
cblr-1707	239	1	68,603	68,603	NUM
cblr-1707	239	2	,	,	PUNCT
cblr-1707	239	3	68,604	68,604	NUM
cblr-1707	239	4	(	(	PUNCT
cblr-1707	239	5	oct	oct	PROPN
cblr-1707	239	6	.	.	PROPN
cblr-1707	239	7	15	15	NUM
cblr-1707	239	8	,	,	PUNCT
cblr-1707	239	9	1980	1980	NUM
cblr-1707	239	10	)	)	PUNCT
cblr-1707	239	11	.	.	PUNCT
cblr-1707	240	1	42	42	NUM
cblr-1707	240	2	see	see	VERB
cblr-1707	240	3	infra	infra	NOUN
cblr-1707	240	4	notes	note	VERB
cblr-1707	240	5	147–149	147–149	NUM
cblr-1707	240	6	and	and	CCONJ
cblr-1707	240	7	accompanying	accompany	VERB
cblr-1707	240	8	text	text	NOUN
cblr-1707	240	9	.	.	PUNCT
cblr-1707	241	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	241	2	770	770	NUM
cblr-1707	241	3	columbia	columbia	PROPN
cblr-1707	241	4	business	business	NOUN
cblr-1707	241	5	law	law	NOUN
cblr-1707	241	6	review	review	NOUN
cblr-1707	241	7	[	[	X
cblr-1707	241	8	vol	vol	NOUN
cblr-1707	241	9	.	.	PUNCT
cblr-1707	241	10	2018	2018	NUM
cblr-1707	242	1	this	this	DET
cblr-1707	242	2	article	article	NOUN
cblr-1707	242	3	illuminates	illuminate	VERB
cblr-1707	242	4	a	a	DET
cblr-1707	242	5	different	different	ADJ
cblr-1707	242	6	path	path	NOUN
cblr-1707	242	7	that	that	PRON
cblr-1707	242	8	bank	bank	NOUN
cblr-1707	242	9	regulation	regulation	NOUN
cblr-1707	242	10	might	might	AUX
cblr-1707	242	11	have	have	AUX
cblr-1707	242	12	followed	follow	VERB
cblr-1707	242	13	(	(	PUNCT
cblr-1707	242	14	and	and	CCONJ
cblr-1707	242	15	still	still	ADV
cblr-1707	242	16	could	could	AUX
cblr-1707	242	17	)	)	PUNCT
cblr-1707	242	18	.	.	PUNCT
cblr-1707	243	1	rather	rather	ADV
cblr-1707	243	2	than	than	ADP
cblr-1707	243	3	abandoning	abandon	VERB
cblr-1707	243	4	those	those	DET
cblr-1707	243	5	features	feature	NOUN
cblr-1707	243	6	that	that	PRON
cblr-1707	243	7	resemble	resemble	VERB
cblr-1707	243	8	infrastructure	infrastructure	NOUN
cblr-1707	243	9	regulation	regulation	NOUN
cblr-1707	243	10	,	,	PUNCT
cblr-1707	243	11	bank	bank	NOUN
cblr-1707	243	12	regulation	regulation	NOUN
cblr-1707	243	13	might	might	AUX
cblr-1707	243	14	instead	instead	ADV
cblr-1707	243	15	embrace	embrace	VERB
cblr-1707	243	16	infrastructure	infrastructure	NOUN
cblr-1707	243	17	regulation	regulation	NOUN
cblr-1707	243	18	’s	’s	PART
cblr-1707	243	19	logic	logic	NOUN
cblr-1707	243	20	and	and	CCONJ
cblr-1707	243	21	follow	follow	VERB
cblr-1707	243	22	through	through	ADP
cblr-1707	243	23	on	on	ADP
cblr-1707	243	24	its	its	PRON
cblr-1707	243	25	implications	implication	NOUN
cblr-1707	243	26	.	.	PUNCT
cblr-1707	244	1	this	this	DET
cblr-1707	244	2	article	article	NOUN
cblr-1707	244	3	explores	explore	VERB
cblr-1707	244	4	compelling	compelling	ADJ
cblr-1707	244	5	—	—	PUNCT
cblr-1707	244	6	and	and	CCONJ
cblr-1707	244	7	previously	previously	ADV
cblr-1707	244	8	overlooked	overlook	VERB
cblr-1707	244	9	—	—	PUNCT
cblr-1707	244	10	rationales	rationale	NOUN
cblr-1707	244	11	for	for	ADP
cblr-1707	244	12	imposing	impose	VERB
cblr-1707	244	13	rate	rate	NOUN
cblr-1707	244	14	regulation	regulation	NOUN
cblr-1707	244	15	,	,	PUNCT
cblr-1707	244	16	entry	entry	NOUN
cblr-1707	244	17	restriction	restriction	NOUN
cblr-1707	244	18	,	,	PUNCT
cblr-1707	244	19	and	and	CCONJ
cblr-1707	244	20	universal	universal	ADJ
cblr-1707	244	21	service	service	NOUN
cblr-1707	244	22	mandates	mandate	NOUN
cblr-1707	244	23	on	on	ADP
cblr-1707	244	24	“	"	PUNCT
cblr-1707	244	25	banking	banking	NOUN
cblr-1707	244	26	,	,	PUNCT
cblr-1707	244	27	”	"	PUNCT
cblr-1707	244	28	understood	understand	VERB
cblr-1707	244	29	as	as	ADP
cblr-1707	244	30	the	the	DET
cblr-1707	244	31	activity	activity	NOUN
cblr-1707	244	32	of	of	ADP
cblr-1707	244	33	money	money	NOUN
cblr-1707	244	34	creation	creation	NOUN
cblr-1707	244	35	or	or	CCONJ
cblr-1707	244	36	augmentation	augmentation	NOUN
cblr-1707	244	37	.	.	PUNCT
cblr-1707	245	1	the	the	DET
cblr-1707	245	2	infrastructure	infrastructure	NOUN
cblr-1707	245	3	framing	framing	NOUN
cblr-1707	245	4	is	be	AUX
cblr-1707	245	5	crucial	crucial	ADJ
cblr-1707	245	6	here	here	ADV
cblr-1707	245	7	because	because	SCONJ
cblr-1707	245	8	it	it	PRON
cblr-1707	245	9	establishes	establish	VERB
cblr-1707	245	10	that	that	SCONJ
cblr-1707	245	11	these	these	DET
cblr-1707	245	12	devices	device	NOUN
cblr-1707	245	13	are	be	AUX
cblr-1707	245	14	part	part	NOUN
cblr-1707	245	15	and	and	CCONJ
cblr-1707	245	16	parcel	parcel	NOUN
cblr-1707	245	17	of	of	ADP
cblr-1707	245	18	a	a	DET
cblr-1707	245	19	preexisting	preexist	VERB
cblr-1707	245	20	regulatory	regulatory	ADJ
cblr-1707	245	21	model	model	NOUN
cblr-1707	245	22	.	.	PUNCT
cblr-1707	246	1	they	they	PRON
cblr-1707	246	2	are	be	AUX
cblr-1707	246	3	thoroughly	thoroughly	ADV
cblr-1707	246	4	domesticated	domesticate	VERB
cblr-1707	246	5	within	within	ADP
cblr-1707	246	6	regulatory	regulatory	ADJ
cblr-1707	246	7	theory	theory	NOUN
cblr-1707	246	8	and	and	CCONJ
cblr-1707	246	9	practice	practice	NOUN
cblr-1707	246	10	.	.	PUNCT
cblr-1707	247	1	thus	thus	ADV
cblr-1707	247	2	,	,	PUNCT
cblr-1707	247	3	adopting	adopt	VERB
cblr-1707	247	4	the	the	DET
cblr-1707	247	5	money	money	NOUN
cblr-1707	247	6	paradigm	paradigm	NOUN
cblr-1707	247	7	would	would	AUX
cblr-1707	247	8	not	not	PART
cblr-1707	247	9	necessitate	necessitate	VERB
cblr-1707	247	10	new	new	ADJ
cblr-1707	247	11	concepts	concept	NOUN
cblr-1707	247	12	or	or	CCONJ
cblr-1707	247	13	modes	mode	NOUN
cblr-1707	247	14	of	of	ADP
cblr-1707	247	15	regulation	regulation	NOUN
cblr-1707	247	16	.	.	PUNCT
cblr-1707	248	1	far	far	ADV
cblr-1707	248	2	from	from	ADP
cblr-1707	248	3	creating	create	VERB
cblr-1707	248	4	a	a	DET
cblr-1707	248	5	new	new	ADJ
cblr-1707	248	6	regulatory	regulatory	ADJ
cblr-1707	248	7	type	type	NOUN
cblr-1707	248	8	,	,	PUNCT
cblr-1707	248	9	the	the	DET
cblr-1707	248	10	task	task	NOUN
cblr-1707	248	11	is	be	AUX
cblr-1707	248	12	one	one	NUM
cblr-1707	248	13	of	of	ADP
cblr-1707	248	14	shifting	shift	VERB
cblr-1707	248	15	banking	banking	NOUN
cblr-1707	248	16	within	within	ADP
cblr-1707	248	17	our	our	PRON
cblr-1707	248	18	existing	exist	VERB
cblr-1707	248	19	institutional	institutional	ADJ
cblr-1707	248	20	taxonomy	taxonomy	NOUN
cblr-1707	248	21	.	.	PUNCT
cblr-1707	249	1	before	before	ADP
cblr-1707	249	2	proceeding	proceeding	NOUN
cblr-1707	249	3	,	,	PUNCT
cblr-1707	249	4	a	a	DET
cblr-1707	249	5	point	point	NOUN
cblr-1707	249	6	of	of	ADP
cblr-1707	249	7	clarification	clarification	NOUN
cblr-1707	249	8	is	be	AUX
cblr-1707	249	9	in	in	ADP
cblr-1707	249	10	order	order	NOUN
cblr-1707	249	11	.	.	PUNCT
cblr-1707	250	1	over	over	ADP
cblr-1707	250	2	the	the	DET
cblr-1707	250	3	years	year	NOUN
cblr-1707	250	4	,	,	PUNCT
cblr-1707	250	5	and	and	CCONJ
cblr-1707	250	6	with	with	ADP
cblr-1707	250	7	increasing	increase	VERB
cblr-1707	250	8	frequency	frequency	NOUN
cblr-1707	250	9	lately	lately	ADV
cblr-1707	250	10	,	,	PUNCT
cblr-1707	250	11	analysts	analyst	NOUN
cblr-1707	250	12	have	have	AUX
cblr-1707	250	13	put	put	VERB
cblr-1707	250	14	forward	forward	ADV
cblr-1707	250	15	various	various	ADJ
cblr-1707	250	16	“	"	PUNCT
cblr-1707	250	17	public	public	ADJ
cblr-1707	250	18	utility	utility	NOUN
cblr-1707	250	19	”	"	PUNCT
cblr-1707	250	20	views	view	NOUN
cblr-1707	250	21	of	of	ADP
cblr-1707	250	22	banking	banking	NOUN
cblr-1707	250	23	.	.	PUNCT
cblr-1707	251	1	these	these	DET
cblr-1707	251	2	treatments	treatment	NOUN
cblr-1707	251	3	have	have	AUX
cblr-1707	251	4	tended	tend	VERB
cblr-1707	251	5	to	to	PART
cblr-1707	251	6	be	be	AUX
cblr-1707	251	7	pitched	pitch	VERB
cblr-1707	251	8	at	at	ADP
cblr-1707	251	9	a	a	DET
cblr-1707	251	10	high	high	ADJ
cblr-1707	251	11	level	level	NOUN
cblr-1707	251	12	of	of	ADP
cblr-1707	251	13	abstraction	abstraction	NOUN
cblr-1707	251	14	.	.	PUNCT
cblr-1707	252	1	as	as	ADP
cblr-1707	252	2	a	a	DET
cblr-1707	252	3	rule	rule	NOUN
cblr-1707	252	4	,	,	PUNCT
cblr-1707	252	5	they	they	PRON
cblr-1707	252	6	focus	focus	VERB
cblr-1707	252	7	heavily	heavily	ADV
cblr-1707	252	8	on	on	ADP
cblr-1707	252	9	banks	bank	NOUN
cblr-1707	252	10	’	'	PUNCT
cblr-1707	252	11	credit	credit	NOUN
cblr-1707	252	12	allocation	allocation	NOUN
cblr-1707	252	13	(	(	PUNCT
cblr-1707	252	14	i.e.	i.e.	X
cblr-1707	252	15	,	,	PUNCT
cblr-1707	252	16	lending	lending	NOUN
cblr-1707	252	17	)	)	PUNCT
cblr-1707	252	18	function	function	NOUN
cblr-1707	252	19	,	,	PUNCT
cblr-1707	252	20	arguing	argue	VERB
cblr-1707	252	21	that	that	SCONJ
cblr-1707	252	22	it	it	PRON
cblr-1707	252	23	should	should	AUX
cblr-1707	252	24	be	be	AUX
cblr-1707	252	25	harnessed	harness	VERB
cblr-1707	252	26	to	to	ADP
cblr-1707	252	27	egalitarian	egalitarian	ADJ
cblr-1707	252	28	social	social	ADJ
cblr-1707	252	29	ends.43	ends.43	NOUN
cblr-1707	252	30	such	such	ADJ
cblr-1707	252	31	arguments	argument	NOUN
cblr-1707	252	32	43	43	NUM
cblr-1707	252	33	see	see	VERB
cblr-1707	252	34	,	,	PUNCT
cblr-1707	252	35	e.g.	e.g.	ADV
cblr-1707	252	36	,	,	PUNCT
cblr-1707	252	37	mehrsa	mehrsa	NOUN
cblr-1707	252	38	baradaran	baradaran	NOUN
cblr-1707	252	39	,	,	PUNCT
cblr-1707	252	40	banking	banking	NOUN
cblr-1707	252	41	and	and	CCONJ
cblr-1707	252	42	the	the	DET
cblr-1707	252	43	social	social	ADJ
cblr-1707	252	44	contract	contract	NOUN
cblr-1707	252	45	,	,	PUNCT
cblr-1707	252	46	89	89	NUM
cblr-1707	252	47	notre	notre	PROPN
cblr-1707	252	48	dame	dame	PROPN
cblr-1707	252	49	l.	l.	PROPN
cblr-1707	252	50	rev	rev	PROPN
cblr-1707	252	51	.	.	PROPN
cblr-1707	252	52	1283	1283	NUM
cblr-1707	252	53	,	,	PUNCT
cblr-1707	252	54	1342	1342	NUM
cblr-1707	252	55	(	(	PUNCT
cblr-1707	252	56	2014	2014	NUM
cblr-1707	252	57	)	)	PUNCT
cblr-1707	252	58	;	;	PUNCT
cblr-1707	253	1	k.	k.	PROPN
cblr-1707	253	2	sabeel	sabeel	PROPN
cblr-1707	253	3	rahman	rahman	PROPN
cblr-1707	253	4	,	,	PUNCT
cblr-1707	253	5	the	the	DET
cblr-1707	253	6	new	new	ADJ
cblr-1707	253	7	utilities	utility	NOUN
cblr-1707	253	8	:	:	PUNCT
cblr-1707	253	9	private	private	ADJ
cblr-1707	253	10	power	power	NOUN
cblr-1707	253	11	,	,	PUNCT
cblr-1707	253	12	social	social	ADJ
cblr-1707	253	13	infrastructure	infrastructure	NOUN
cblr-1707	253	14	,	,	PUNCT
cblr-1707	253	15	and	and	CCONJ
cblr-1707	253	16	the	the	DET
cblr-1707	253	17	revival	revival	NOUN
cblr-1707	253	18	of	of	ADP
cblr-1707	253	19	the	the	DET
cblr-1707	253	20	public	public	ADJ
cblr-1707	253	21	utility	utility	NOUN
cblr-1707	253	22	concept	concept	NOUN
cblr-1707	253	23	,	,	PUNCT
cblr-1707	253	24	39	39	NUM
cblr-1707	253	25	cardozo	cardozo	PROPN
cblr-1707	253	26	l.	l.	PROPN
cblr-1707	253	27	rev	rev	PROPN
cblr-1707	253	28	.	.	PROPN
cblr-1707	253	29	1621	1621	NUM
cblr-1707	253	30	,	,	PUNCT
cblr-1707	253	31	1690–91	1690–91	NUM
cblr-1707	253	32	(	(	PUNCT
cblr-1707	253	33	2018	2018	NUM
cblr-1707	253	34	)	)	PUNCT
cblr-1707	253	35	;	;	PUNCT
cblr-1707	253	36	alan	alan	PROPN
cblr-1707	253	37	m.	m.	PROPN
cblr-1707	253	38	white	white	PROPN
cblr-1707	253	39	,	,	PUNCT
cblr-1707	253	40	banks	bank	NOUN
cblr-1707	253	41	as	as	ADP
cblr-1707	253	42	utilities	utility	NOUN
cblr-1707	253	43	,	,	PUNCT
cblr-1707	253	44	90	90	NUM
cblr-1707	253	45	tul	tul	NOUN
cblr-1707	253	46	.	.	PUNCT
cblr-1707	253	47	l.	l.	PROPN
cblr-1707	253	48	rev	rev	PROPN
cblr-1707	253	49	.	.	PROPN
cblr-1707	253	50	1241	1241	NUM
cblr-1707	253	51	,	,	PUNCT
cblr-1707	253	52	1283	1283	NUM
cblr-1707	253	53	(	(	PUNCT
cblr-1707	253	54	2016	2016	NUM
cblr-1707	253	55	)	)	PUNCT
cblr-1707	253	56	.	.	PUNCT
cblr-1707	254	1	in	in	ADP
cblr-1707	254	2	recent	recent	ADJ
cblr-1707	254	3	years	year	NOUN
cblr-1707	254	4	,	,	PUNCT
cblr-1707	254	5	some	some	DET
cblr-1707	254	6	federal	federal	PROPN
cblr-1707	254	7	reserve	reserve	PROPN
cblr-1707	254	8	officials	official	NOUN
cblr-1707	254	9	have	have	AUX
cblr-1707	254	10	used	use	VERB
cblr-1707	254	11	“	"	PUNCT
cblr-1707	254	12	public	public	ADJ
cblr-1707	254	13	utility	utility	NOUN
cblr-1707	254	14	”	"	PUNCT
cblr-1707	254	15	language	language	NOUN
cblr-1707	254	16	in	in	ADP
cblr-1707	254	17	reference	reference	NOUN
cblr-1707	254	18	to	to	ADP
cblr-1707	254	19	banks	bank	NOUN
cblr-1707	254	20	,	,	PUNCT
cblr-1707	254	21	though	though	SCONJ
cblr-1707	254	22	their	their	PRON
cblr-1707	254	23	meaning	meaning	NOUN
cblr-1707	254	24	has	have	AUX
cblr-1707	254	25	not	not	PART
cblr-1707	254	26	been	be	AUX
cblr-1707	254	27	entirely	entirely	ADV
cblr-1707	254	28	clear	clear	ADJ
cblr-1707	254	29	.	.	PUNCT
cblr-1707	255	1	see	see	VERB
cblr-1707	255	2	neel	neel	PROPN
cblr-1707	255	3	kashkari	kashkari	PROPN
cblr-1707	255	4	,	,	PUNCT
cblr-1707	255	5	president	president	NOUN
cblr-1707	255	6	and	and	CCONJ
cblr-1707	255	7	ceo	ceo	PROPN
cblr-1707	255	8	,	,	PUNCT
cblr-1707	255	9	fed	fed	PROPN
cblr-1707	255	10	.	.	PUNCT
cblr-1707	255	11	reserve	reserve	PROPN
cblr-1707	255	12	bank	bank	PROPN
cblr-1707	255	13	of	of	ADP
cblr-1707	255	14	minneapolis	minneapolis	PROPN
cblr-1707	255	15	,	,	PUNCT
cblr-1707	255	16	lessons	lesson	NOUN
cblr-1707	255	17	from	from	ADP
cblr-1707	255	18	the	the	DET
cblr-1707	255	19	crisis	crisis	NOUN
cblr-1707	255	20	:	:	PUNCT
cblr-1707	255	21	ending	end	VERB
cblr-1707	255	22	too	too	ADV
cblr-1707	255	23	big	big	ADJ
cblr-1707	255	24	to	to	PART
cblr-1707	255	25	fail	fail	VERB
cblr-1707	255	26	,	,	PUNCT
cblr-1707	255	27	remarks	remark	NOUN
cblr-1707	255	28	at	at	ADP
cblr-1707	255	29	the	the	DET
cblr-1707	255	30	brookings	brookings	PROPN
cblr-1707	255	31	institution	institution	NOUN
cblr-1707	255	32	5	5	NUM
cblr-1707	255	33	(	(	PUNCT
cblr-1707	255	34	feb	feb	PROPN
cblr-1707	255	35	.	.	PROPN
cblr-1707	255	36	16	16	NUM
cblr-1707	255	37	,	,	PUNCT
cblr-1707	255	38	2016	2016	NUM
cblr-1707	255	39	)	)	PUNCT
cblr-1707	255	40	(	(	PUNCT
cblr-1707	255	41	transcript	transcript	NOUN
cblr-1707	255	42	available	available	ADJ
cblr-1707	255	43	at	at	ADP
cblr-1707	255	44	https://www.brookings.edu/wpcontent/uploads/2016/02/kashkaribrookings2162016.pdf	https://www.brookings.edu/wpcontent/uploads/2016/02/kashkaribrookings2162016.pdf	NOUN
cblr-1707	255	45	[	[	X
cblr-1707	255	46	https://perma.cc/c5pn-qexn	https://perma.cc/c5pn-qexn	X
cblr-1707	255	47	]	]	X
cblr-1707	255	48	)	)	PUNCT
cblr-1707	255	49	(	(	PUNCT
cblr-1707	255	50	suggesting	suggest	VERB
cblr-1707	255	51	that	that	SCONJ
cblr-1707	255	52	policymakers	policymaker	NOUN
cblr-1707	255	53	consider	consider	VERB
cblr-1707	255	54	“	"	PUNCT
cblr-1707	255	55	turning	turn	VERB
cblr-1707	255	56	large	large	ADJ
cblr-1707	255	57	banks	bank	NOUN
cblr-1707	255	58	into	into	ADP
cblr-1707	255	59	public	public	ADJ
cblr-1707	255	60	utilities	utility	NOUN
cblr-1707	255	61	”	"	PUNCT
cblr-1707	255	62	)	)	PUNCT
cblr-1707	255	63	;	;	PUNCT
cblr-1707	255	64	joe	joe	PROPN
cblr-1707	255	65	rauch	rauch	PROPN
cblr-1707	255	66	,	,	PUNCT
cblr-1707	255	67	big	big	ADJ
cblr-1707	255	68	banks	bank	NOUN
cblr-1707	255	69	are	be	AUX
cblr-1707	255	70	government	government	NOUN
cblr-1707	255	71	-	-	PUNCT
cblr-1707	255	72	backed	back	VERB
cblr-1707	255	73	:	:	PUNCT
cblr-1707	255	74	fed	fed	PROPN
cblr-1707	255	75	’s	’s	PART
cblr-1707	255	76	hoenig	hoenig	PROPN
cblr-1707	255	77	,	,	PUNCT
cblr-1707	255	78	reuters	reuters	PROPN
cblr-1707	255	79	(	(	PUNCT
cblr-1707	255	80	apr	apr	PROPN
cblr-1707	255	81	.	.	PROPN
cblr-1707	255	82	12	12	NUM
cblr-1707	255	83	,	,	PUNCT
cblr-1707	255	84	2011	2011	NUM
cblr-1707	255	85	)	)	PUNCT
cblr-1707	255	86	,	,	PUNCT
cblr-1707	255	87	https://www.reuters.com/article/us-fed-hoenig/big-banks-are-governmentbacked-feds-hoenig-idustre73b3s820110412	https://www.reuters.com/article/us-fed-hoenig/big-banks-are-governmentbacked-feds-hoenig-idustre73b3s820110412	VERB
cblr-1707	256	1	[	[	PUNCT
cblr-1707	256	2	https://perma.cc/2hg42018.3_ricks_final	https://perma.cc/2hg42018.3_ricks_final	NOUN
cblr-1707	256	3	no	no	INTJ
cblr-1707	256	4	.	.	PUNCT
cblr-1707	257	1	3:757	3:757	NUM
cblr-1707	257	2	]	]	X
cblr-1707	257	3	money	money	NOUN
cblr-1707	257	4	as	as	SCONJ
cblr-1707	257	5	infrastructure	infrastructure	NOUN
cblr-1707	257	6	771	771	NUM
cblr-1707	257	7	obviously	obviously	ADV
cblr-1707	257	8	raise	raise	VERB
cblr-1707	257	9	hotly	hotly	ADV
cblr-1707	257	10	contested	contest	VERB
cblr-1707	257	11	questions	question	NOUN
cblr-1707	257	12	of	of	ADP
cblr-1707	257	13	political	political	ADJ
cblr-1707	257	14	philosophy	philosophy	NOUN
cblr-1707	257	15	.	.	PUNCT
cblr-1707	258	1	even	even	ADV
cblr-1707	258	2	those	those	DET
cblr-1707	258	3	sympathetic	sympathetic	ADJ
cblr-1707	258	4	on	on	ADP
cblr-1707	258	5	philosophical	philosophical	ADJ
cblr-1707	258	6	grounds	ground	NOUN
cblr-1707	258	7	may	may	AUX
cblr-1707	258	8	question	question	VERB
cblr-1707	258	9	whether	whether	SCONJ
cblr-1707	258	10	credit	credit	NOUN
cblr-1707	258	11	markets	market	NOUN
cblr-1707	258	12	are	be	AUX
cblr-1707	258	13	an	an	DET
cblr-1707	258	14	effective	effective	ADJ
cblr-1707	258	15	vehicle	vehicle	NOUN
cblr-1707	258	16	for	for	ADP
cblr-1707	258	17	social	social	ADJ
cblr-1707	258	18	policy	policy	NOUN
cblr-1707	258	19	,	,	PUNCT
cblr-1707	258	20	whether	whether	SCONJ
cblr-1707	258	21	the	the	DET
cblr-1707	258	22	banking	banking	NOUN
cblr-1707	258	23	system	system	NOUN
cblr-1707	258	24	is	be	AUX
cblr-1707	258	25	a	a	DET
cblr-1707	258	26	suitable	suitable	ADJ
cblr-1707	258	27	instrument	instrument	NOUN
cblr-1707	258	28	to	to	PART
cblr-1707	258	29	implement	implement	VERB
cblr-1707	258	30	this	this	DET
cblr-1707	258	31	type	type	NOUN
cblr-1707	258	32	of	of	ADP
cblr-1707	258	33	policy	policy	NOUN
cblr-1707	258	34	,	,	PUNCT
cblr-1707	258	35	or	or	CCONJ
cblr-1707	258	36	whether	whether	SCONJ
cblr-1707	258	37	it	it	PRON
cblr-1707	258	38	is	be	AUX
cblr-1707	258	39	wise	wise	ADJ
cblr-1707	258	40	to	to	PART
cblr-1707	258	41	place	place	VERB
cblr-1707	258	42	such	such	ADJ
cblr-1707	258	43	issues	issue	NOUN
cblr-1707	258	44	within	within	ADP
cblr-1707	258	45	the	the	DET
cblr-1707	258	46	remit	remit	NOUN
cblr-1707	258	47	of	of	ADP
cblr-1707	258	48	bank	bank	NOUN
cblr-1707	258	49	regulators	regulator	NOUN
cblr-1707	258	50	.	.	PUNCT
cblr-1707	259	1	by	by	ADP
cblr-1707	259	2	contrast	contrast	NOUN
cblr-1707	259	3	,	,	PUNCT
cblr-1707	259	4	my	my	PRON
cblr-1707	259	5	arguments	argument	NOUN
cblr-1707	259	6	—	—	PUNCT
cblr-1707	259	7	which	which	PRON
cblr-1707	259	8	relate	relate	VERB
cblr-1707	259	9	exclusively	exclusively	ADV
cblr-1707	259	10	to	to	ADP
cblr-1707	259	11	banks	bank	NOUN
cblr-1707	259	12	’	'	PUNCT
cblr-1707	259	13	monetary	monetary	ADJ
cblr-1707	259	14	function	function	NOUN
cblr-1707	259	15	and	and	CCONJ
cblr-1707	259	16	not	not	PART
cblr-1707	259	17	their	their	PRON
cblr-1707	259	18	lending	lending	NOUN
cblr-1707	259	19	or	or	CCONJ
cblr-1707	259	20	investment	investment	NOUN
cblr-1707	259	21	activities	activity	NOUN
cblr-1707	259	22	—	—	PUNCT
cblr-1707	259	23	are	be	AUX
cblr-1707	259	24	for	for	ADP
cblr-1707	259	25	the	the	DET
cblr-1707	259	26	most	most	ADJ
cblr-1707	259	27	part	part	NOUN
cblr-1707	259	28	grounded	ground	VERB
cblr-1707	259	29	in	in	ADP
cblr-1707	259	30	efficiency	efficiency	NOUN
cblr-1707	259	31	norms	norm	NOUN
cblr-1707	259	32	,	,	PUNCT
cblr-1707	259	33	thus	thus	ADV
cblr-1707	259	34	sidestepping	sidestep	VERB
cblr-1707	259	35	these	these	DET
cblr-1707	259	36	objections	objection	NOUN
cblr-1707	259	37	.	.	PUNCT
cblr-1707	260	1	that	that	SCONJ
cblr-1707	260	2	my	my	PRON
cblr-1707	260	3	arguments	argument	NOUN
cblr-1707	260	4	have	have	AUX
cblr-1707	260	5	broadly	broadly	ADV
cblr-1707	260	6	egalitarian	egalitarian	ADJ
cblr-1707	260	7	distributional	distributional	ADJ
cblr-1707	260	8	implications	implication	NOUN
cblr-1707	260	9	should	should	AUX
cblr-1707	260	10	only	only	ADV
cblr-1707	260	11	enhance	enhance	VERB
cblr-1707	260	12	their	their	PRON
cblr-1707	260	13	appeal	appeal	NOUN
cblr-1707	260	14	.	.	PUNCT
cblr-1707	261	1	this	this	DET
cblr-1707	261	2	article	article	NOUN
cblr-1707	261	3	proceeds	proceed	VERB
cblr-1707	261	4	as	as	SCONJ
cblr-1707	261	5	follows	follow	VERB
cblr-1707	261	6	.	.	PUNCT
cblr-1707	262	1	part	part	PROPN
cblr-1707	262	2	ii	ii	PROPN
cblr-1707	262	3	investigates	investigate	VERB
cblr-1707	262	4	rate	rate	NOUN
cblr-1707	262	5	regulation	regulation	NOUN
cblr-1707	262	6	and	and	CCONJ
cblr-1707	262	7	shows	show	VERB
cblr-1707	262	8	that	that	SCONJ
cblr-1707	262	9	,	,	PUNCT
cblr-1707	262	10	in	in	ADP
cblr-1707	262	11	the	the	DET
cblr-1707	262	12	current	current	ADJ
cblr-1707	262	13	institutional	institutional	ADJ
cblr-1707	262	14	environment	environment	NOUN
cblr-1707	262	15	,	,	PUNCT
cblr-1707	262	16	the	the	DET
cblr-1707	262	17	absence	absence	NOUN
cblr-1707	262	18	of	of	ADP
cblr-1707	262	19	administrative	administrative	ADJ
cblr-1707	262	20	controls	control	NOUN
cblr-1707	262	21	on	on	ADP
cblr-1707	262	22	bank	bank	NOUN
cblr-1707	262	23	deposit	deposit	NOUN
cblr-1707	262	24	interest	interest	NOUN
cblr-1707	262	25	rates	rate	NOUN
cblr-1707	262	26	is	be	AUX
cblr-1707	262	27	a	a	DET
cblr-1707	262	28	major	major	ADJ
cblr-1707	262	29	impediment	impediment	NOUN
cblr-1707	262	30	to	to	ADP
cblr-1707	262	31	the	the	DET
cblr-1707	262	32	effective	effective	ADJ
cblr-1707	262	33	conduct	conduct	NOUN
cblr-1707	262	34	of	of	ADP
cblr-1707	262	35	monetary	monetary	ADJ
cblr-1707	262	36	policy	policy	NOUN
cblr-1707	262	37	.	.	PUNCT
cblr-1707	263	1	unavoidably	unavoidably	ADV
cblr-1707	263	2	,	,	PUNCT
cblr-1707	263	3	this	this	DET
cblr-1707	263	4	argument	argument	NOUN
cblr-1707	263	5	requires	require	VERB
cblr-1707	263	6	a	a	DET
cblr-1707	263	7	deep	deep	ADJ
cblr-1707	263	8	dive	dive	NOUN
cblr-1707	263	9	into	into	ADP
cblr-1707	263	10	the	the	DET
cblr-1707	263	11	relevant	relevant	ADJ
cblr-1707	263	12	institutional	institutional	ADJ
cblr-1707	263	13	setting	setting	NOUN
cblr-1707	263	14	—	—	PUNCT
cblr-1707	263	15	an	an	DET
cblr-1707	263	16	area	area	NOUN
cblr-1707	263	17	never	never	ADV
cblr-1707	263	18	before	before	SCONJ
cblr-1707	263	19	explored	explore	VERB
cblr-1707	263	20	in	in	ADP
cblr-1707	263	21	the	the	DET
cblr-1707	263	22	legal	legal	ADJ
cblr-1707	263	23	literature	literature	NOUN
cblr-1707	263	24	.	.	PUNCT
cblr-1707	264	1	i	i	PRON
cblr-1707	264	2	show	show	VERB
cblr-1707	264	3	that	that	SCONJ
cblr-1707	264	4	imposing	impose	VERB
cblr-1707	264	5	such	such	ADJ
cblr-1707	264	6	controls	control	NOUN
cblr-1707	264	7	would	would	AUX
cblr-1707	264	8	necessarily	necessarily	ADV
cblr-1707	264	9	involve	involve	VERB
cblr-1707	264	10	bank	bank	NOUN
cblr-1707	264	11	regulators	regulator	NOUN
cblr-1707	264	12	in	in	ADP
cblr-1707	264	13	what	what	PRON
cblr-1707	264	14	amounts	amount	VERB
cblr-1707	264	15	to	to	ADP
cblr-1707	264	16	cost	cost	NOUN
cblr-1707	264	17	-	-	PUNCT
cblr-1707	264	18	of	of	ADP
cblr-1707	264	19	-	-	PUNCT
cblr-1707	264	20	service	service	NOUN
cblr-1707	264	21	ratemaking	ratemaking	NOUN
cblr-1707	264	22	,	,	PUNCT
cblr-1707	264	23	the	the	DET
cblr-1707	264	24	quintessential	quintessential	ADJ
cblr-1707	264	25	practice	practice	NOUN
cblr-1707	264	26	of	of	ADP
cblr-1707	264	27	infrastructure	infrastructure	NOUN
cblr-1707	264	28	regulation	regulation	NOUN
cblr-1707	264	29	.	.	PUNCT
cblr-1707	265	1	while	while	SCONJ
cblr-1707	265	2	this	this	PRON
cblr-1707	265	3	might	might	AUX
cblr-1707	265	4	initially	initially	ADV
cblr-1707	265	5	seem	seem	VERB
cblr-1707	265	6	like	like	ADP
cblr-1707	265	7	a	a	DET
cblr-1707	265	8	big	big	ADJ
cblr-1707	265	9	departure	departure	NOUN
cblr-1707	265	10	from	from	ADP
cblr-1707	265	11	current	current	ADJ
cblr-1707	265	12	practice	practice	NOUN
cblr-1707	265	13	,	,	PUNCT
cblr-1707	265	14	in	in	ADP
cblr-1707	265	15	reality	reality	NOUN
cblr-1707	265	16	bank	bank	NOUN
cblr-1707	265	17	regulators	regulator	NOUN
cblr-1707	265	18	must	must	AUX
cblr-1707	265	19	already	already	ADV
cblr-1707	265	20	do	do	VERB
cblr-1707	265	21	this	this	DET
cblr-1707	265	22	type	type	NOUN
cblr-1707	265	23	of	of	ADP
cblr-1707	265	24	valuation	valuation	NOUN
cblr-1707	265	25	in	in	ADP
cblr-1707	265	26	setting	set	VERB
cblr-1707	265	27	deposit	deposit	NOUN
cblr-1707	265	28	insurance	insurance	NOUN
cblr-1707	265	29	fees	fee	NOUN
cblr-1707	265	30	.	.	PUNCT
cblr-1707	266	1	part	part	NOUN
cblr-1707	266	2	iii	iii	NUM
cblr-1707	266	3	considers	consider	VERB
cblr-1707	266	4	entry	entry	NOUN
cblr-1707	266	5	restriction	restriction	NOUN
cblr-1707	266	6	,	,	PUNCT
cblr-1707	266	7	which	which	PRON
cblr-1707	266	8	typically	typically	ADV
cblr-1707	266	9	goes	go	VERB
cblr-1707	266	10	hand	hand	NOUN
cblr-1707	266	11	-	-	PUNCT
cblr-1707	266	12	in	in	ADP
cblr-1707	266	13	-	-	PUNCT
cblr-1707	266	14	hand	hand	NOUN
cblr-1707	266	15	with	with	ADP
cblr-1707	266	16	rate	rate	NOUN
cblr-1707	266	17	regulation	regulation	NOUN
cblr-1707	266	18	.	.	PUNCT
cblr-1707	267	1	i	i	PRON
cblr-1707	267	2	have	have	AUX
cblr-1707	267	3	argued	argue	VERB
cblr-1707	267	4	in	in	ADP
cblr-1707	267	5	previous	previous	ADJ
cblr-1707	267	6	work	work	NOUN
cblr-1707	267	7	that	that	PRON
cblr-1707	267	8	restricting	restrict	VERB
cblr-1707	267	9	entry	entry	NOUN
cblr-1707	267	10	into	into	ADP
cblr-1707	267	11	(	(	PUNCT
cblr-1707	267	12	dollar	dollar	NOUN
cblr-1707	267	13	-	-	PUNCT
cblr-1707	267	14	denominated	denominate	VERB
cblr-1707	267	15	)	)	PUNCT
cblr-1707	267	16	“	"	PUNCT
cblr-1707	267	17	money	money	NOUN
cblr-1707	267	18	”	"	PUNCT
cblr-1707	267	19	r3qq	r3qq	PROPN
cblr-1707	267	20	]	]	PUNCT
cblr-1707	267	21	(	(	PUNCT
cblr-1707	267	22	quoting	quote	VERB
cblr-1707	267	23	federal	federal	PROPN
cblr-1707	267	24	reserve	reserve	PROPN
cblr-1707	267	25	bank	bank	PROPN
cblr-1707	267	26	of	of	ADP
cblr-1707	267	27	kansas	kansas	PROPN
cblr-1707	267	28	city	city	PROPN
cblr-1707	267	29	president	president	PROPN
cblr-1707	267	30	thomas	thomas	PROPN
cblr-1707	267	31	hoenig	hoenig	PROPN
cblr-1707	267	32	to	to	ADP
cblr-1707	267	33	the	the	DET
cblr-1707	267	34	effect	effect	NOUN
cblr-1707	267	35	that	that	SCONJ
cblr-1707	267	36	large	large	ADJ
cblr-1707	267	37	banks	bank	NOUN
cblr-1707	267	38	are	be	AUX
cblr-1707	267	39	“	"	PUNCT
cblr-1707	267	40	public	public	ADJ
cblr-1707	267	41	utilities	utility	NOUN
cblr-1707	267	42	”	"	PUNCT
cblr-1707	267	43	)	)	PUNCT
cblr-1707	267	44	.	.	PUNCT
cblr-1707	268	1	noted	note	VERB
cblr-1707	268	2	banking	banking	NOUN
cblr-1707	268	3	expert	expert	NOUN
cblr-1707	268	4	paul	paul	PROPN
cblr-1707	268	5	mcculley	mcculley	PROPN
cblr-1707	268	6	recently	recently	ADV
cblr-1707	268	7	expressed	express	VERB
cblr-1707	268	8	a	a	DET
cblr-1707	268	9	view	view	NOUN
cblr-1707	268	10	that	that	SCONJ
cblr-1707	268	11	in	in	ADP
cblr-1707	268	12	some	some	DET
cblr-1707	268	13	ways	way	NOUN
cblr-1707	268	14	resonates	resonate	VERB
cblr-1707	268	15	with	with	ADP
cblr-1707	268	16	those	those	PRON
cblr-1707	268	17	expressed	express	VERB
cblr-1707	268	18	in	in	ADP
cblr-1707	268	19	this	this	DET
cblr-1707	268	20	article	article	NOUN
cblr-1707	268	21	.	.	PUNCT
cblr-1707	269	1	stephanie	stephanie	PROPN
cblr-1707	269	2	kelton	kelton	PROPN
cblr-1707	269	3	&	&	CCONJ
cblr-1707	269	4	paul	paul	PROPN
cblr-1707	269	5	mcculley	mcculley	PROPN
cblr-1707	269	6	,	,	PUNCT
cblr-1707	269	7	opinion	opinion	NOUN
cblr-1707	269	8	,	,	PUNCT
cblr-1707	269	9	the	the	DET
cblr-1707	269	10	fed	fed	PROPN
cblr-1707	269	11	chair	chair	NOUN
cblr-1707	269	12	should	should	AUX
cblr-1707	269	13	be	be	AUX
cblr-1707	269	14	a	a	DET
cblr-1707	269	15	‘	'	PUNCT
cblr-1707	269	16	principled	principled	ADJ
cblr-1707	269	17	populist	populist	NOUN
cblr-1707	269	18	’	'	PUNCT
cblr-1707	269	19	,	,	PUNCT
cblr-1707	269	20	n.y	n.y	PROPN
cblr-1707	269	21	.	.	PROPN
cblr-1707	269	22	times	times	PROPN
cblr-1707	269	23	(	(	PUNCT
cblr-1707	269	24	oct	oct	PROPN
cblr-1707	269	25	.	.	PROPN
cblr-1707	269	26	30	30	NUM
cblr-1707	269	27	,	,	PUNCT
cblr-1707	269	28	2017	2017	NUM
cblr-1707	269	29	)	)	PUNCT
cblr-1707	269	30	,	,	PUNCT
cblr-1707	269	31	https://www.nytimes.com/2017/10/30/opinion/fedchair-yellen-powell.html	https://www.nytimes.com/2017/10/30/opinion/fedchair-yellen-powell.html	NOUN
cblr-1707	270	1	[	[	X
cblr-1707	270	2	https://perma.cc/2kj7-rkgf	https://perma.cc/2kj7-rkgf	X
cblr-1707	270	3	]	]	X
cblr-1707	270	4	(	(	PUNCT
cblr-1707	270	5	“	"	PUNCT
cblr-1707	270	6	banks	bank	NOUN
cblr-1707	270	7	are	be	AUX
cblr-1707	270	8	many	many	ADJ
cblr-1707	270	9	things	thing	NOUN
cblr-1707	270	10	,	,	PUNCT
cblr-1707	270	11	but	but	CCONJ
cblr-1707	270	12	at	at	ADP
cblr-1707	270	13	their	their	PRON
cblr-1707	270	14	core	core	NOUN
cblr-1707	270	15	,	,	PUNCT
cblr-1707	270	16	they	they	PRON
cblr-1707	270	17	have	have	VERB
cblr-1707	270	18	a	a	DET
cblr-1707	270	19	public	public	ADJ
cblr-1707	270	20	utility	utility	NOUN
cblr-1707	270	21	function	function	NOUN
cblr-1707	270	22	,	,	PUNCT
cblr-1707	270	23	access	access	NOUN
cblr-1707	270	24	to	to	ADP
cblr-1707	270	25	the	the	DET
cblr-1707	270	26	payments	payment	NOUN
cblr-1707	270	27	system	system	NOUN
cblr-1707	270	28	—	—	PUNCT
cblr-1707	270	29	the	the	DET
cblr-1707	270	30	highway	highway	NOUN
cblr-1707	270	31	,	,	PUNCT
cblr-1707	270	32	if	if	SCONJ
cblr-1707	270	33	you	you	PRON
cblr-1707	270	34	will	will	AUX
cblr-1707	270	35	,	,	PUNCT
cblr-1707	270	36	on	on	ADP
cblr-1707	270	37	which	which	PRON
cblr-1707	270	38	you	you	PRON
cblr-1707	270	39	get	get	AUX
cblr-1707	270	40	paid	pay	VERB
cblr-1707	270	41	and	and	CCONJ
cblr-1707	270	42	pay	pay	VERB
cblr-1707	270	43	your	your	PRON
cblr-1707	270	44	bills	bill	NOUN
cblr-1707	270	45	.	.	PUNCT
cblr-1707	271	1	in	in	ADP
cblr-1707	271	2	that	that	DET
cblr-1707	271	3	sense	sense	NOUN
cblr-1707	271	4	,	,	PUNCT
cblr-1707	271	5	banks	bank	NOUN
cblr-1707	271	6	are	be	AUX
cblr-1707	271	7	not	not	PART
cblr-1707	271	8	different	different	ADJ
cblr-1707	271	9	than	than	ADP
cblr-1707	271	10	the	the	DET
cblr-1707	271	11	gas	gas	NOUN
cblr-1707	271	12	company	company	NOUN
cblr-1707	271	13	or	or	CCONJ
cblr-1707	271	14	the	the	DET
cblr-1707	271	15	electric	electric	ADJ
cblr-1707	271	16	company	company	NOUN
cblr-1707	271	17	,	,	PUNCT
cblr-1707	271	18	connecting	connect	VERB
cblr-1707	271	19	you	you	PRON
cblr-1707	271	20	to	to	ADP
cblr-1707	271	21	the	the	DET
cblr-1707	271	22	grid	grid	NOUN
cblr-1707	271	23	[	[	X
cblr-1707	271	24	.	.	X
cblr-1707	271	25	]	]	X
cblr-1707	271	26	”	"	PUNCT
cblr-1707	271	27	)	)	PUNCT
cblr-1707	271	28	.	.	PUNCT
cblr-1707	272	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	272	2	772	772	NUM
cblr-1707	272	3	columbia	columbia	PROPN
cblr-1707	272	4	business	business	NOUN
cblr-1707	272	5	law	law	PROPN
cblr-1707	272	6	review	review	NOUN
cblr-1707	272	7	[	[	X
cblr-1707	272	8	vol	vol	NOUN
cblr-1707	272	9	.	.	PUNCT
cblr-1707	272	10	2018	2018	NUM
cblr-1707	272	11	creation	creation	NOUN
cblr-1707	272	12	,	,	PUNCT
cblr-1707	272	13	on	on	ADP
cblr-1707	272	14	a	a	DET
cblr-1707	272	15	functional	functional	ADJ
cblr-1707	272	16	(	(	PUNCT
cblr-1707	272	17	as	as	SCONJ
cblr-1707	272	18	opposed	oppose	VERB
cblr-1707	272	19	to	to	ADP
cblr-1707	272	20	formalistic	formalistic	ADJ
cblr-1707	272	21	)	)	PUNCT
cblr-1707	272	22	basis	basis	NOUN
cblr-1707	272	23	,	,	PUNCT
cblr-1707	272	24	is	be	AUX
cblr-1707	272	25	both	both	CCONJ
cblr-1707	272	26	feasible	feasible	ADJ
cblr-1707	272	27	and	and	CCONJ
cblr-1707	272	28	desirable.44	desirable.44	NOUN
cblr-1707	272	29	here	here	ADV
cblr-1707	272	30	i	i	PRON
cblr-1707	272	31	analyze	analyze	VERB
cblr-1707	272	32	what	what	PRON
cblr-1707	272	33	bank	bank	NOUN
cblr-1707	272	34	chartering	chartering	NOUN
cblr-1707	272	35	standards	standard	NOUN
cblr-1707	272	36	ought	ought	AUX
cblr-1707	272	37	to	to	PART
cblr-1707	272	38	look	look	VERB
cblr-1707	272	39	like	like	ADP
cblr-1707	272	40	in	in	ADP
cblr-1707	272	41	such	such	DET
cblr-1707	272	42	a	a	DET
cblr-1707	272	43	system	system	NOUN
cblr-1707	272	44	.	.	PUNCT
cblr-1707	273	1	the	the	DET
cblr-1707	273	2	problem	problem	NOUN
cblr-1707	273	3	turns	turn	VERB
cblr-1707	273	4	out	out	ADP
cblr-1707	273	5	to	to	PART
cblr-1707	273	6	be	be	AUX
cblr-1707	273	7	one	one	NUM
cblr-1707	273	8	of	of	ADP
cblr-1707	273	9	portfolio	portfolio	NOUN
cblr-1707	273	10	management	management	NOUN
cblr-1707	273	11	:	:	PUNCT
cblr-1707	273	12	the	the	DET
cblr-1707	273	13	monetary	monetary	ADJ
cblr-1707	273	14	authority	authority	NOUN
cblr-1707	273	15	,	,	PUNCT
cblr-1707	273	16	like	like	ADP
cblr-1707	273	17	any	any	DET
cblr-1707	273	18	large	large	ADJ
cblr-1707	273	19	endowment	endowment	NOUN
cblr-1707	273	20	manager	manager	NOUN
cblr-1707	273	21	,	,	PUNCT
cblr-1707	273	22	retains	retain	VERB
cblr-1707	273	23	external	external	ADJ
cblr-1707	273	24	portfolio	portfolio	NOUN
cblr-1707	273	25	managers	manager	NOUN
cblr-1707	273	26	—	—	PUNCT
cblr-1707	273	27	that	that	ADV
cblr-1707	273	28	is	is	ADV
cblr-1707	273	29	,	,	PUNCT
cblr-1707	273	30	it	it	PRON
cblr-1707	273	31	outsources	outsource	NOUN
cblr-1707	273	32	.	.	PUNCT
cblr-1707	274	1	understood	understand	VERB
cblr-1707	274	2	this	this	DET
cblr-1707	274	3	way	way	NOUN
cblr-1707	274	4	,	,	PUNCT
cblr-1707	274	5	bank	bank	NOUN
cblr-1707	274	6	chartering	chartering	NOUN
cblr-1707	274	7	is	be	AUX
cblr-1707	274	8	a	a	DET
cblr-1707	274	9	procurement	procurement	NOUN
cblr-1707	274	10	problem	problem	NOUN
cblr-1707	274	11	,	,	PUNCT
cblr-1707	274	12	which	which	PRON
cblr-1707	274	13	implies	imply	VERB
cblr-1707	274	14	discretionary	discretionary	ADJ
cblr-1707	274	15	chartering	chartering	NOUN
cblr-1707	274	16	.	.	PUNCT
cblr-1707	275	1	traditional	traditional	ADJ
cblr-1707	275	2	infrastructure	infrastructure	NOUN
cblr-1707	275	3	regulation	regulation	NOUN
cblr-1707	275	4	works	work	VERB
cblr-1707	275	5	just	just	ADV
cblr-1707	275	6	this	this	DET
cblr-1707	275	7	way	way	NOUN
cblr-1707	275	8	:	:	PUNCT
cblr-1707	275	9	prospective	prospective	ADJ
cblr-1707	275	10	infrastructure	infrastructure	NOUN
cblr-1707	275	11	providers	provider	NOUN
cblr-1707	275	12	must	must	AUX
cblr-1707	275	13	obtain	obtain	VERB
cblr-1707	275	14	certificates	certificate	NOUN
cblr-1707	275	15	of	of	ADP
cblr-1707	275	16	public	public	ADJ
cblr-1707	275	17	convenience	convenience	NOUN
cblr-1707	275	18	and	and	CCONJ
cblr-1707	275	19	necessity	necessity	NOUN
cblr-1707	275	20	(	(	PUNCT
cblr-1707	275	21	pcn	pcn	PROPN
cblr-1707	275	22	)	)	PUNCT
cblr-1707	275	23	,	,	PUNCT
cblr-1707	275	24	granted	grant	VERB
cblr-1707	275	25	at	at	ADP
cblr-1707	275	26	regulators	regulator	NOUN
cblr-1707	275	27	’	'	PUNCT
cblr-1707	275	28	discretion	discretion	NOUN
cblr-1707	275	29	,	,	PUNCT
cblr-1707	275	30	before	before	ADP
cblr-1707	275	31	commencing	commence	VERB
cblr-1707	275	32	service	service	NOUN
cblr-1707	275	33	.	.	PUNCT
cblr-1707	276	1	part	part	NOUN
cblr-1707	276	2	iv	iv	NUM
cblr-1707	276	3	addresses	address	NOUN
cblr-1707	276	4	universal	universal	ADJ
cblr-1707	276	5	service	service	NOUN
cblr-1707	276	6	requirements	requirement	NOUN
cblr-1707	276	7	.	.	PUNCT
cblr-1707	277	1	the	the	DET
cblr-1707	277	2	mainstream	mainstream	NOUN
cblr-1707	277	3	payment	payment	NOUN
cblr-1707	277	4	system	system	NOUN
cblr-1707	277	5	is	be	AUX
cblr-1707	277	6	beyond	beyond	ADP
cblr-1707	277	7	the	the	DET
cblr-1707	277	8	reach	reach	NOUN
cblr-1707	277	9	of	of	ADP
cblr-1707	277	10	many	many	ADJ
cblr-1707	277	11	americans	americans	PROPN
cblr-1707	277	12	;	;	PUNCT
cblr-1707	277	13	millions	million	NOUN
cblr-1707	277	14	of	of	ADP
cblr-1707	277	15	“	"	PUNCT
cblr-1707	277	16	unbanked	unbanked	ADJ
cblr-1707	277	17	”	"	PUNCT
cblr-1707	277	18	and	and	CCONJ
cblr-1707	277	19	“	"	PUNCT
cblr-1707	277	20	underbanked	underbanked	ADJ
cblr-1707	277	21	”	"	PUNCT
cblr-1707	277	22	households	household	NOUN
cblr-1707	277	23	must	must	AUX
cblr-1707	277	24	rely	rely	VERB
cblr-1707	277	25	on	on	ADP
cblr-1707	277	26	expensive	expensive	ADJ
cblr-1707	277	27	alternative	alternative	ADJ
cblr-1707	277	28	providers	provider	NOUN
cblr-1707	277	29	to	to	PART
cblr-1707	277	30	make	make	VERB
cblr-1707	277	31	routine	routine	ADJ
cblr-1707	277	32	payments	payment	NOUN
cblr-1707	277	33	.	.	PUNCT
cblr-1707	278	1	i	i	PRON
cblr-1707	278	2	argue	argue	VERB
cblr-1707	278	3	that	that	SCONJ
cblr-1707	278	4	expanding	expand	VERB
cblr-1707	278	5	access	access	NOUN
cblr-1707	278	6	to	to	ADP
cblr-1707	278	7	the	the	DET
cblr-1707	278	8	mainstream	mainstream	NOUN
cblr-1707	278	9	account	account	NOUN
cblr-1707	278	10	-	-	PUNCT
cblr-1707	278	11	money	money	NOUN
cblr-1707	278	12	system	system	NOUN
cblr-1707	278	13	should	should	AUX
cblr-1707	278	14	be	be	AUX
cblr-1707	278	15	expected	expect	VERB
cblr-1707	278	16	to	to	PART
cblr-1707	278	17	generate	generate	VERB
cblr-1707	278	18	substantial	substantial	ADJ
cblr-1707	278	19	positive	positive	ADJ
cblr-1707	278	20	spillovers	spillover	NOUN
cblr-1707	278	21	.	.	PUNCT
cblr-1707	279	1	imposing	impose	VERB
cblr-1707	279	2	universal	universal	ADJ
cblr-1707	279	3	service	service	NOUN
cblr-1707	279	4	-	-	PUNCT
cblr-1707	279	5	type	type	NOUN
cblr-1707	279	6	obligations	obligation	NOUN
cblr-1707	279	7	on	on	ADP
cblr-1707	279	8	chartered	charter	VERB
cblr-1707	279	9	banks	bank	NOUN
cblr-1707	279	10	to	to	PART
cblr-1707	279	11	offer	offer	VERB
cblr-1707	279	12	transaction	transaction	NOUN
cblr-1707	279	13	accounts	account	NOUN
cblr-1707	279	14	would	would	AUX
cblr-1707	279	15	place	place	VERB
cblr-1707	279	16	banking	banking	NOUN
cblr-1707	279	17	squarely	squarely	ADV
cblr-1707	279	18	within	within	ADP
cblr-1707	279	19	the	the	DET
cblr-1707	279	20	domain	domain	NOUN
cblr-1707	279	21	of	of	ADP
cblr-1707	279	22	regulated	regulated	ADJ
cblr-1707	279	23	industries	industry	NOUN
cblr-1707	279	24	,	,	PUNCT
cblr-1707	279	25	where	where	SCONJ
cblr-1707	279	26	such	such	ADJ
cblr-1707	279	27	universal	universal	ADJ
cblr-1707	279	28	service	service	NOUN
cblr-1707	279	29	obligations	obligation	NOUN
cblr-1707	279	30	are	be	AUX
cblr-1707	279	31	standard	standard	ADJ
cblr-1707	279	32	fare	fare	NOUN
cblr-1707	279	33	.	.	PUNCT
cblr-1707	280	1	concluding	conclude	VERB
cblr-1707	280	2	thoughts	thought	NOUN
cblr-1707	280	3	follow	follow	VERB
cblr-1707	280	4	.	.	PUNCT
cblr-1707	281	1	ii	ii	PROPN
cblr-1707	281	2	.	.	PUNCT
cblr-1707	281	3	rate	rate	NOUN
cblr-1707	281	4	regulation	regulation	NOUN
cblr-1707	281	5	and	and	CCONJ
cblr-1707	281	6	the	the	DET
cblr-1707	281	7	transformation	transformation	NOUN
cblr-1707	281	8	of	of	ADP
cblr-1707	281	9	monetary	monetary	ADJ
cblr-1707	281	10	policy	policy	NOUN
cblr-1707	281	11	recent	recent	ADJ
cblr-1707	281	12	years	year	NOUN
cblr-1707	281	13	have	have	AUX
cblr-1707	281	14	witnessed	witness	VERB
cblr-1707	281	15	a	a	DET
cblr-1707	281	16	dramatic	dramatic	ADJ
cblr-1707	281	17	transformation	transformation	NOUN
cblr-1707	281	18	in	in	ADP
cblr-1707	281	19	the	the	DET
cblr-1707	281	20	federal	federal	PROPN
cblr-1707	281	21	reserve	reserve	PROPN
cblr-1707	281	22	’s	’s	PART
cblr-1707	281	23	operational	operational	ADJ
cblr-1707	281	24	framework	framework	NOUN
cblr-1707	281	25	for	for	ADP
cblr-1707	281	26	monetary	monetary	ADJ
cblr-1707	281	27	policy	policy	NOUN
cblr-1707	281	28	.	.	PUNCT
cblr-1707	282	1	the	the	DET
cblr-1707	282	2	new	new	ADJ
cblr-1707	282	3	framework	framework	NOUN
cblr-1707	282	4	has	have	AUX
cblr-1707	282	5	run	run	VERB
cblr-1707	282	6	up	up	ADP
cblr-1707	282	7	against	against	ADP
cblr-1707	282	8	unanticipated	unanticipated	ADJ
cblr-1707	282	9	problems	problem	NOUN
cblr-1707	282	10	.	.	PUNCT
cblr-1707	283	1	serious	serious	ADJ
cblr-1707	283	2	questions	question	NOUN
cblr-1707	283	3	have	have	AUX
cblr-1707	283	4	arisen	arise	VERB
cblr-1707	283	5	concerning	concern	VERB
cblr-1707	283	6	both	both	CCONJ
cblr-1707	283	7	its	its	PRON
cblr-1707	283	8	efficacy	efficacy	NOUN
cblr-1707	283	9	and	and	CCONJ
cblr-1707	283	10	its	its	PRON
cblr-1707	283	11	distributional	distributional	ADJ
cblr-1707	283	12	effects	effect	NOUN
cblr-1707	283	13	.	.	PUNCT
cblr-1707	284	1	this	this	DET
cblr-1707	284	2	part	part	NOUN
cblr-1707	284	3	argues	argue	VERB
cblr-1707	284	4	that	that	SCONJ
cblr-1707	284	5	administrative	administrative	ADJ
cblr-1707	284	6	controls	control	NOUN
cblr-1707	284	7	on	on	ADP
cblr-1707	284	8	bank	bank	NOUN
cblr-1707	284	9	deposit	deposit	NOUN
cblr-1707	284	10	rates	rate	NOUN
cblr-1707	284	11	present	present	VERB
cblr-1707	284	12	an	an	DET
cblr-1707	284	13	attractive	attractive	ADJ
cblr-1707	284	14	(	(	PUNCT
cblr-1707	284	15	and	and	CCONJ
cblr-1707	284	16	previously	previously	ADV
cblr-1707	284	17	overlooked	overlook	VERB
cblr-1707	284	18	)	)	PUNCT
cblr-1707	284	19	strategy	strategy	NOUN
cblr-1707	284	20	for	for	ADP
cblr-1707	284	21	addressing	address	VERB
cblr-1707	284	22	these	these	DET
cblr-1707	284	23	problems	problem	NOUN
cblr-1707	284	24	.	.	PUNCT
cblr-1707	285	1	such	such	ADJ
cblr-1707	285	2	controls	control	NOUN
cblr-1707	285	3	would	would	AUX
cblr-1707	285	4	have	have	VERB
cblr-1707	285	5	the	the	DET
cblr-1707	285	6	added	add	VERB
cblr-1707	285	7	benefit	benefit	NOUN
cblr-1707	285	8	of	of	ADP
cblr-1707	285	9	greatly	greatly	ADV
cblr-1707	285	10	simplifying	simplify	VERB
cblr-1707	285	11	and	and	CCONJ
cblr-1707	285	12	rationalizing	rationalize	VERB
cblr-1707	285	13	the	the	DET
cblr-1707	285	14	institutional	institutional	ADJ
cblr-1707	285	15	44	44	NUM
cblr-1707	285	16	see	see	NOUN
cblr-1707	285	17	ricks	rick	NOUN
cblr-1707	285	18	,	,	PUNCT
cblr-1707	285	19	supra	supra	PROPN
cblr-1707	285	20	note	note	PROPN
cblr-1707	285	21	19	19	NUM
cblr-1707	285	22	,	,	PUNCT
cblr-1707	285	23	at	at	ADP
cblr-1707	285	24	230–37	230–37	PROPN
cblr-1707	285	25	;	;	PUNCT
cblr-1707	285	26	morgan	morgan	PROPN
cblr-1707	285	27	ricks	ricks	PROPN
cblr-1707	285	28	,	,	PUNCT
cblr-1707	285	29	entry	entry	NOUN
cblr-1707	285	30	restriction	restriction	NOUN
cblr-1707	285	31	,	,	PUNCT
cblr-1707	285	32	shadow	shadow	NOUN
cblr-1707	285	33	banking	banking	NOUN
cblr-1707	285	34	,	,	PUNCT
cblr-1707	285	35	and	and	CCONJ
cblr-1707	285	36	the	the	DET
cblr-1707	285	37	structure	structure	NOUN
cblr-1707	285	38	of	of	ADP
cblr-1707	285	39	monetary	monetary	ADJ
cblr-1707	285	40	institutions	institution	NOUN
cblr-1707	285	41	,	,	PUNCT
cblr-1707	285	42	2	2	NUM
cblr-1707	285	43	j.	j.	PROPN
cblr-1707	285	44	fin	fin	PROPN
cblr-1707	285	45	.	.	PUNCT
cblr-1707	286	1	reg	reg	PROPN
cblr-1707	286	2	.	.	PROPN
cblr-1707	286	3	291	291	NUM
cblr-1707	286	4	,	,	PUNCT
cblr-1707	286	5	294	294	NUM
cblr-1707	286	6	(	(	PUNCT
cblr-1707	286	7	2016	2016	NUM
cblr-1707	286	8	)	)	PUNCT
cblr-1707	286	9	.	.	PUNCT
cblr-1707	287	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	287	2	no	no	NOUN
cblr-1707	287	3	.	.	PUNCT
cblr-1707	288	1	3:757	3:757	NUM
cblr-1707	288	2	]	]	PUNCT
cblr-1707	288	3	money	money	NOUN
cblr-1707	288	4	as	as	ADP
cblr-1707	288	5	infrastructure	infrastructure	NOUN
cblr-1707	288	6	773	773	NUM
cblr-1707	288	7	environment	environment	NOUN
cblr-1707	288	8	in	in	ADP
cblr-1707	288	9	which	which	PRON
cblr-1707	288	10	monetary	monetary	ADJ
cblr-1707	288	11	policy	policy	NOUN
cblr-1707	288	12	takes	take	VERB
cblr-1707	288	13	place	place	NOUN
cblr-1707	288	14	.	.	PUNCT
cblr-1707	289	1	establishing	establish	VERB
cblr-1707	289	2	such	such	ADJ
cblr-1707	289	3	controls	control	NOUN
cblr-1707	289	4	would	would	AUX
cblr-1707	289	5	be	be	AUX
cblr-1707	289	6	functionally	functionally	ADV
cblr-1707	289	7	identical	identical	ADJ
cblr-1707	289	8	to	to	ADP
cblr-1707	289	9	cost	cost	NOUN
cblr-1707	289	10	-	-	PUNCT
cblr-1707	289	11	of	of	ADP
cblr-1707	289	12	-	-	PUNCT
cblr-1707	289	13	service	service	NOUN
cblr-1707	289	14	ratemaking	ratemaking	NOUN
cblr-1707	289	15	—	—	PUNCT
cblr-1707	289	16	the	the	DET
cblr-1707	289	17	most	most	ADV
cblr-1707	289	18	distinctive	distinctive	ADJ
cblr-1707	289	19	practice	practice	NOUN
cblr-1707	289	20	of	of	ADP
cblr-1707	289	21	traditional	traditional	ADJ
cblr-1707	289	22	infrastructure	infrastructure	NOUN
cblr-1707	289	23	regulation	regulation	NOUN
cblr-1707	289	24	.	.	PUNCT
cblr-1707	290	1	the	the	DET
cblr-1707	290	2	analysis	analysis	NOUN
cblr-1707	290	3	that	that	PRON
cblr-1707	290	4	follows	follow	VERB
cblr-1707	290	5	is	be	AUX
cblr-1707	290	6	rich	rich	ADJ
cblr-1707	290	7	in	in	ADP
cblr-1707	290	8	institutional	institutional	ADJ
cblr-1707	290	9	detail	detail	NOUN
cblr-1707	290	10	.	.	PUNCT
cblr-1707	291	1	this	this	DET
cblr-1707	291	2	thick	thick	ADJ
cblr-1707	291	3	description	description	NOUN
cblr-1707	291	4	serves	serve	VERB
cblr-1707	291	5	two	two	NUM
cblr-1707	291	6	purposes	purpose	NOUN
cblr-1707	291	7	.	.	PUNCT
cblr-1707	292	1	first	first	ADV
cblr-1707	292	2	,	,	PUNCT
cblr-1707	292	3	when	when	SCONJ
cblr-1707	292	4	it	it	PRON
cblr-1707	292	5	comes	come	VERB
cblr-1707	292	6	to	to	ADP
cblr-1707	292	7	monetary	monetary	ADJ
cblr-1707	292	8	policy	policy	NOUN
cblr-1707	292	9	mechanics	mechanic	NOUN
cblr-1707	292	10	,	,	PUNCT
cblr-1707	292	11	the	the	DET
cblr-1707	292	12	details	detail	NOUN
cblr-1707	292	13	are	be	AUX
cblr-1707	292	14	all	all	ADV
cblr-1707	292	15	-	-	PUNCT
cblr-1707	292	16	important	important	ADJ
cblr-1707	292	17	,	,	PUNCT
cblr-1707	292	18	and	and	CCONJ
cblr-1707	292	19	knowledge	knowledge	NOUN
cblr-1707	292	20	of	of	ADP
cblr-1707	292	21	these	these	DET
cblr-1707	292	22	details	detail	NOUN
cblr-1707	292	23	is	be	AUX
cblr-1707	292	24	sparse	sparse	ADJ
cblr-1707	292	25	outside	outside	ADP
cblr-1707	292	26	a	a	DET
cblr-1707	292	27	narrow	narrow	ADJ
cblr-1707	292	28	group	group	NOUN
cblr-1707	292	29	of	of	ADP
cblr-1707	292	30	monetary	monetary	ADJ
cblr-1707	292	31	specialists	specialist	NOUN
cblr-1707	292	32	.	.	PUNCT
cblr-1707	293	1	much	much	ADJ
cblr-1707	293	2	of	of	ADP
cblr-1707	293	3	this	this	DET
cblr-1707	293	4	terrain	terrain	NOUN
cblr-1707	293	5	is	be	AUX
cblr-1707	293	6	completely	completely	ADV
cblr-1707	293	7	unknown	unknown	ADJ
cblr-1707	293	8	to	to	ADP
cblr-1707	293	9	the	the	DET
cblr-1707	293	10	legal	legal	ADJ
cblr-1707	293	11	literature	literature	NOUN
cblr-1707	293	12	to	to	ADP
cblr-1707	293	13	date	date	NOUN
cblr-1707	293	14	.	.	PUNCT
cblr-1707	294	1	indeed	indeed	ADV
cblr-1707	294	2	,	,	PUNCT
cblr-1707	294	3	once	once	SCONJ
cblr-1707	294	4	we	we	PRON
cblr-1707	294	5	get	get	VERB
cblr-1707	294	6	beyond	beyond	ADP
cblr-1707	294	7	the	the	DET
cblr-1707	294	8	bare	bare	ADJ
cblr-1707	294	9	basics	basic	NOUN
cblr-1707	294	10	,	,	PUNCT
cblr-1707	294	11	much	much	ADJ
cblr-1707	294	12	of	of	ADP
cblr-1707	294	13	what	what	PRON
cblr-1707	294	14	follows	follow	VERB
cblr-1707	294	15	can	can	AUX
cblr-1707	294	16	not	not	PART
cblr-1707	294	17	be	be	AUX
cblr-1707	294	18	found	find	VERB
cblr-1707	294	19	in	in	ADP
cblr-1707	294	20	standard	standard	ADJ
cblr-1707	294	21	textbooks	textbook	NOUN
cblr-1707	294	22	on	on	ADP
cblr-1707	294	23	macroeconomics	macroeconomic	NOUN
cblr-1707	294	24	and	and	CCONJ
cblr-1707	294	25	on	on	ADP
cblr-1707	294	26	money	money	NOUN
cblr-1707	294	27	and	and	CCONJ
cblr-1707	294	28	banking	banking	NOUN
cblr-1707	294	29	.	.	PUNCT
cblr-1707	295	1	i	i	PRON
cblr-1707	295	2	aim	aim	VERB
cblr-1707	295	3	,	,	PUNCT
cblr-1707	295	4	then	then	ADV
cblr-1707	295	5	,	,	PUNCT
cblr-1707	295	6	to	to	PART
cblr-1707	295	7	provide	provide	VERB
cblr-1707	295	8	an	an	DET
cblr-1707	295	9	up	up	ADP
cblr-1707	295	10	-	-	PUNCT
cblr-1707	295	11	to	to	ADP
cblr-1707	295	12	-	-	PUNCT
cblr-1707	295	13	date	date	NOUN
cblr-1707	295	14	depiction	depiction	NOUN
cblr-1707	295	15	of	of	ADP
cblr-1707	295	16	current	current	ADJ
cblr-1707	295	17	practice	practice	NOUN
cblr-1707	295	18	and	and	CCONJ
cblr-1707	295	19	to	to	PART
cblr-1707	295	20	make	make	VERB
cblr-1707	295	21	this	this	DET
cblr-1707	295	22	topic	topic	NOUN
cblr-1707	295	23	accessible	accessible	ADJ
cblr-1707	295	24	to	to	ADP
cblr-1707	295	25	a	a	DET
cblr-1707	295	26	generalist	generalist	ADJ
cblr-1707	295	27	audience	audience	NOUN
cblr-1707	295	28	.	.	PUNCT
cblr-1707	296	1	second	second	ADJ
cblr-1707	296	2	,	,	PUNCT
cblr-1707	296	3	and	and	CCONJ
cblr-1707	296	4	more	more	ADV
cblr-1707	296	5	importantly	importantly	ADV
cblr-1707	296	6	,	,	PUNCT
cblr-1707	296	7	a	a	DET
cblr-1707	296	8	highresolution	highresolution	NOUN
cblr-1707	296	9	image	image	NOUN
cblr-1707	296	10	of	of	ADP
cblr-1707	296	11	the	the	DET
cblr-1707	296	12	institutional	institutional	ADJ
cblr-1707	296	13	environment	environment	NOUN
cblr-1707	296	14	is	be	AUX
cblr-1707	296	15	a	a	DET
cblr-1707	296	16	prerequisite	prerequisite	NOUN
cblr-1707	296	17	to	to	AUX
cblr-1707	296	18	careful	careful	ADJ
cblr-1707	296	19	critical	critical	ADJ
cblr-1707	296	20	analysis	analysis	NOUN
cblr-1707	296	21	in	in	ADP
cblr-1707	296	22	this	this	DET
cblr-1707	296	23	area	area	NOUN
cblr-1707	296	24	.	.	PUNCT
cblr-1707	297	1	we	we	PRON
cblr-1707	297	2	will	will	AUX
cblr-1707	297	3	see	see	VERB
cblr-1707	297	4	that	that	SCONJ
cblr-1707	297	5	the	the	DET
cblr-1707	297	6	institutional	institutional	ADJ
cblr-1707	297	7	setting	setting	NOUN
cblr-1707	297	8	of	of	ADP
cblr-1707	297	9	monetary	monetary	ADJ
cblr-1707	297	10	policy	policy	NOUN
cblr-1707	297	11	is	be	AUX
cblr-1707	297	12	extremely	extremely	ADV
cblr-1707	297	13	(	(	PUNCT
cblr-1707	297	14	and	and	CCONJ
cblr-1707	297	15	needlessly	needlessly	ADV
cblr-1707	297	16	)	)	PUNCT
cblr-1707	297	17	complex	complex	NOUN
cblr-1707	297	18	and	and	CCONJ
cblr-1707	297	19	that	that	SCONJ
cblr-1707	297	20	this	this	DET
cblr-1707	297	21	complexity	complexity	NOUN
cblr-1707	297	22	has	have	AUX
cblr-1707	297	23	been	be	AUX
cblr-1707	297	24	a	a	DET
cblr-1707	297	25	source	source	NOUN
cblr-1707	297	26	of	of	ADP
cblr-1707	297	27	analytical	analytical	ADJ
cblr-1707	297	28	confusion	confusion	NOUN
cblr-1707	297	29	.	.	PUNCT
cblr-1707	298	1	a.	a.	NOUN
cblr-1707	299	1	the	the	PRON
cblr-1707	299	2	institutional	institutional	ADJ
cblr-1707	299	3	setting	set	VERB
cblr-1707	299	4	modern	modern	ADJ
cblr-1707	299	5	monetary	monetary	ADJ
cblr-1707	299	6	policy	policy	NOUN
cblr-1707	299	7	is	be	AUX
cblr-1707	299	8	centrally	centrally	ADV
cblr-1707	299	9	concerned	concerned	ADJ
cblr-1707	299	10	with	with	ADP
cblr-1707	299	11	managing	manage	VERB
cblr-1707	299	12	short	short	ADJ
cblr-1707	299	13	-	-	PUNCT
cblr-1707	299	14	term	term	NOUN
cblr-1707	299	15	interest	interest	NOUN
cblr-1707	299	16	rates	rate	NOUN
cblr-1707	299	17	with	with	ADP
cblr-1707	299	18	a	a	DET
cblr-1707	299	19	view	view	NOUN
cblr-1707	299	20	toward	toward	ADP
cblr-1707	299	21	influencing	influence	VERB
cblr-1707	299	22	macroeconomic	macroeconomic	ADJ
cblr-1707	299	23	conditions.45	conditions.45	NOUN
cblr-1707	299	24	broadly	broadly	ADV
cblr-1707	299	25	speaking	speak	VERB
cblr-1707	299	26	,	,	PUNCT
cblr-1707	299	27	approaches	approach	VERB
cblr-1707	299	28	to	to	ADP
cblr-1707	299	29	interest	interest	NOUN
cblr-1707	299	30	rate	rate	NOUN
cblr-1707	299	31	control	control	NOUN
cblr-1707	299	32	can	can	AUX
cblr-1707	299	33	be	be	AUX
cblr-1707	299	34	classified	classify	VERB
cblr-1707	299	35	into	into	ADP
cblr-1707	299	36	two	two	NUM
cblr-1707	299	37	types	type	NOUN
cblr-1707	299	38	:	:	PUNCT
cblr-1707	299	39	those	those	PRON
cblr-1707	299	40	that	that	PRON
cblr-1707	299	41	rely	rely	VERB
cblr-1707	299	42	on	on	ADP
cblr-1707	299	43	reserve	reserve	NOUN
cblr-1707	299	44	scarcity	scarcity	NOUN
cblr-1707	299	45	and	and	CCONJ
cblr-1707	299	46	those	those	PRON
cblr-1707	299	47	that	that	PRON
cblr-1707	299	48	do	do	VERB
cblr-1707	299	49	not	not	PART
cblr-1707	299	50	.	.	PUNCT
cblr-1707	300	1	prior	prior	ADV
cblr-1707	300	2	to	to	ADP
cblr-1707	300	3	late	late	ADJ
cblr-1707	300	4	2008	2008	NUM
cblr-1707	300	5	,	,	PUNCT
cblr-1707	300	6	the	the	DET
cblr-1707	300	7	federal	federal	ADJ
cblr-1707	300	8	reserve46	reserve46	NOUN
cblr-1707	300	9	made	make	VERB
cblr-1707	300	10	use	use	NOUN
cblr-1707	300	11	of	of	ADP
cblr-1707	300	12	reserve	reserve	NOUN
cblr-1707	300	13	scarcity	scarcity	NOUN
cblr-1707	300	14	in	in	ADP
cblr-1707	300	15	its	its	PRON
cblr-1707	300	16	monetary	monetary	ADJ
cblr-1707	300	17	policy	policy	NOUN
cblr-1707	300	18	implementation	implementation	NOUN
cblr-1707	300	19	framework	framework	NOUN
cblr-1707	300	20	.	.	PUNCT
cblr-1707	301	1	starting	start	VERB
cblr-1707	301	2	in	in	ADP
cblr-1707	301	3	late	late	ADJ
cblr-1707	301	4	2008	2008	NUM
cblr-1707	301	5	,	,	PUNCT
cblr-1707	301	6	it	it	PRON
cblr-1707	301	7	abandoned	abandon	VERB
cblr-1707	301	8	the	the	DET
cblr-1707	301	9	scarce	scarce	ADJ
cblr-1707	301	10	-	-	PUNCT
cblr-1707	301	11	reserves	reserve	NOUN
cblr-1707	301	12	approach	approach	NOUN
cblr-1707	301	13	,	,	PUNCT
cblr-1707	301	14	relying	rely	VERB
cblr-1707	301	15	instead	instead	ADV
cblr-1707	301	16	on	on	ADP
cblr-1707	301	17	administered	administer	VERB
cblr-1707	301	18	rates	rate	NOUN
cblr-1707	301	19	to	to	PART
cblr-1707	301	20	set	set	VERB
cblr-1707	301	21	an	an	DET
cblr-1707	301	22	adjustable	adjustable	ADJ
cblr-1707	301	23	floor	floor	NOUN
cblr-1707	301	24	on	on	ADP
cblr-1707	301	25	market	market	NOUN
cblr-1707	301	26	interest	interest	NOUN
cblr-1707	301	27	rates	rate	NOUN
cblr-1707	301	28	.	.	PUNCT
cblr-1707	302	1	these	these	DET
cblr-1707	302	2	two	two	NUM
cblr-1707	302	3	45	45	NUM
cblr-1707	302	4	see	see	VERB
cblr-1707	302	5	federal	federal	PROPN
cblr-1707	302	6	reserve	reserve	PROPN
cblr-1707	302	7	act	act	PROPN
cblr-1707	302	8	§	§	PROPN
cblr-1707	302	9	2a	2a	NUM
cblr-1707	302	10	,	,	PUNCT
cblr-1707	302	11	12	12	NUM
cblr-1707	302	12	u.s.c	u.s.c	ADJ
cblr-1707	302	13	.	.	PUNCT
cblr-1707	303	1	§	§	PROPN
cblr-1707	303	2	225a	225a	NOUN
cblr-1707	303	3	(	(	PUNCT
cblr-1707	303	4	2012	2012	NUM
cblr-1707	303	5	)	)	PUNCT
cblr-1707	303	6	(	(	PUNCT
cblr-1707	303	7	codifying	codify	VERB
cblr-1707	303	8	the	the	DET
cblr-1707	303	9	federal	federal	PROPN
cblr-1707	303	10	reserve	reserve	PROPN
cblr-1707	303	11	’s	’s	PART
cblr-1707	303	12	dual	dual	ADJ
cblr-1707	303	13	mandate	mandate	NOUN
cblr-1707	303	14	of	of	ADP
cblr-1707	303	15	full	full	ADJ
cblr-1707	303	16	employment	employment	NOUN
cblr-1707	303	17	and	and	CCONJ
cblr-1707	303	18	stable	stable	ADJ
cblr-1707	303	19	prices	price	NOUN
cblr-1707	303	20	)	)	PUNCT
cblr-1707	303	21	.	.	PUNCT
cblr-1707	304	1	46	46	NUM
cblr-1707	304	2	throughout	throughout	ADV
cblr-1707	304	3	,	,	PUNCT
cblr-1707	304	4	this	this	DET
cblr-1707	304	5	article	article	NOUN
cblr-1707	304	6	uses	use	VERB
cblr-1707	304	7	“	"	PUNCT
cblr-1707	304	8	federal	federal	PROPN
cblr-1707	304	9	reserve	reserve	PROPN
cblr-1707	304	10	”	"	PUNCT
cblr-1707	304	11	or	or	CCONJ
cblr-1707	304	12	the	the	DET
cblr-1707	304	13	“	"	PUNCT
cblr-1707	304	14	fed	fed	PROPN
cblr-1707	304	15	”	"	PUNCT
cblr-1707	304	16	as	as	ADP
cblr-1707	304	17	a	a	DET
cblr-1707	304	18	catch	catch	NOUN
cblr-1707	304	19	-	-	PUNCT
cblr-1707	304	20	all	all	PRON
cblr-1707	304	21	for	for	ADP
cblr-1707	304	22	the	the	DET
cblr-1707	304	23	u.s	u.s	PROPN
cblr-1707	304	24	.	.	PROPN
cblr-1707	304	25	central	central	PROPN
cblr-1707	304	26	bank	bank	PROPN
cblr-1707	304	27	’s	’s	PART
cblr-1707	304	28	various	various	ADJ
cblr-1707	304	29	organs	organ	NOUN
cblr-1707	304	30	,	,	PUNCT
cblr-1707	304	31	including	include	VERB
cblr-1707	304	32	the	the	DET
cblr-1707	304	33	board	board	NOUN
cblr-1707	304	34	of	of	ADP
cblr-1707	304	35	governors	governor	NOUN
cblr-1707	304	36	of	of	ADP
cblr-1707	304	37	the	the	DET
cblr-1707	304	38	federal	federal	PROPN
cblr-1707	304	39	reserve	reserve	PROPN
cblr-1707	304	40	system	system	NOUN
cblr-1707	304	41	,	,	PUNCT
cblr-1707	304	42	the	the	DET
cblr-1707	304	43	twelve	twelve	NUM
cblr-1707	304	44	regional	regional	ADJ
cblr-1707	304	45	federal	federal	ADJ
cblr-1707	304	46	reserve	reserve	NOUN
cblr-1707	304	47	banks	bank	NOUN
cblr-1707	304	48	,	,	PUNCT
cblr-1707	304	49	and	and	CCONJ
cblr-1707	304	50	the	the	DET
cblr-1707	304	51	federal	federal	ADJ
cblr-1707	304	52	open	open	ADJ
cblr-1707	304	53	market	market	NOUN
cblr-1707	304	54	committee	committee	NOUN
cblr-1707	304	55	.	.	PUNCT
cblr-1707	305	1	these	these	DET
cblr-1707	305	2	sub	sub	ADJ
cblr-1707	305	3	-	-	ADJ
cblr-1707	305	4	agency	agency	ADJ
cblr-1707	305	5	distinctions	distinction	NOUN
cblr-1707	305	6	have	have	VERB
cblr-1707	305	7	no	no	DET
cblr-1707	305	8	bearing	bearing	NOUN
cblr-1707	305	9	on	on	ADP
cblr-1707	305	10	my	my	PRON
cblr-1707	305	11	argument	argument	NOUN
cblr-1707	305	12	.	.	PUNCT
cblr-1707	306	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	306	2	774	774	NUM
cblr-1707	306	3	columbia	columbia	PROPN
cblr-1707	306	4	business	business	NOUN
cblr-1707	306	5	law	law	PROPN
cblr-1707	306	6	review	review	NOUN
cblr-1707	307	1	[	[	X
cblr-1707	307	2	vol	vol	NOUN
cblr-1707	307	3	.	.	NOUN
cblr-1707	307	4	2018	2018	NUM
cblr-1707	307	5	approaches	approach	NOUN
cblr-1707	307	6	to	to	ADP
cblr-1707	307	7	interest	interest	NOUN
cblr-1707	307	8	rate	rate	NOUN
cblr-1707	307	9	control	control	NOUN
cblr-1707	307	10	differ	differ	VERB
cblr-1707	307	11	in	in	ADP
cblr-1707	307	12	fundamental	fundamental	ADJ
cblr-1707	307	13	respects	respect	NOUN
cblr-1707	307	14	.	.	PUNCT
cblr-1707	308	1	to	to	PART
cblr-1707	308	2	see	see	VERB
cblr-1707	308	3	how	how	SCONJ
cblr-1707	308	4	they	they	PRON
cblr-1707	308	5	work	work	VERB
cblr-1707	308	6	,	,	PUNCT
cblr-1707	308	7	it	it	PRON
cblr-1707	308	8	is	be	AUX
cblr-1707	308	9	first	first	ADV
cblr-1707	308	10	necessary	necessary	ADJ
cblr-1707	308	11	to	to	PART
cblr-1707	308	12	understand	understand	VERB
cblr-1707	308	13	some	some	DET
cblr-1707	308	14	key	key	ADJ
cblr-1707	308	15	operational	operational	ADJ
cblr-1707	308	16	features	feature	NOUN
cblr-1707	308	17	of	of	ADP
cblr-1707	308	18	modern	modern	ADJ
cblr-1707	308	19	central	central	ADJ
cblr-1707	308	20	banking	banking	NOUN
cblr-1707	308	21	.	.	PUNCT
cblr-1707	309	1	this	this	DET
cblr-1707	309	2	part	part	NOUN
cblr-1707	309	3	therefore	therefore	ADV
cblr-1707	309	4	begins	begin	VERB
cblr-1707	309	5	with	with	ADP
cblr-1707	309	6	a	a	DET
cblr-1707	309	7	very	very	ADV
cblr-1707	309	8	brief	brief	ADJ
cblr-1707	309	9	overview	overview	NOUN
cblr-1707	309	10	of	of	ADP
cblr-1707	309	11	some	some	DET
cblr-1707	309	12	rudiments	rudiment	NOUN
cblr-1707	309	13	before	before	ADP
cblr-1707	309	14	proceeding	proceed	VERB
cblr-1707	309	15	to	to	ADP
cblr-1707	309	16	the	the	DET
cblr-1707	309	17	frontiers	frontier	NOUN
cblr-1707	309	18	of	of	ADP
cblr-1707	309	19	current	current	ADJ
cblr-1707	309	20	practice	practice	NOUN
cblr-1707	309	21	and	and	CCONJ
cblr-1707	309	22	debate	debate	NOUN
cblr-1707	309	23	.	.	PUNCT
cblr-1707	310	1	readers	reader	NOUN
cblr-1707	310	2	familiar	familiar	ADJ
cblr-1707	310	3	with	with	ADP
cblr-1707	310	4	the	the	DET
cblr-1707	310	5	basics	basic	NOUN
cblr-1707	310	6	should	should	AUX
cblr-1707	310	7	proceed	proceed	VERB
cblr-1707	310	8	directly	directly	ADV
cblr-1707	310	9	to	to	ADP
cblr-1707	310	10	section	section	NOUN
cblr-1707	310	11	ii.b	ii.b	PROPN
cblr-1707	310	12	.	.	PUNCT
cblr-1707	311	1	figure	figure	NOUN
cblr-1707	311	2	1	1	NUM
cblr-1707	311	3	presents	present	VERB
cblr-1707	311	4	a	a	DET
cblr-1707	311	5	stylized	stylize	VERB
cblr-1707	311	6	balance	balance	NOUN
cblr-1707	311	7	sheet	sheet	NOUN
cblr-1707	311	8	of	of	ADP
cblr-1707	311	9	a	a	DET
cblr-1707	311	10	modern	modern	ADJ
cblr-1707	311	11	central	central	ADJ
cblr-1707	311	12	bank	bank	NOUN
cblr-1707	311	13	.	.	PUNCT
cblr-1707	312	1	like	like	ADP
cblr-1707	312	2	any	any	DET
cblr-1707	312	3	balance	balance	NOUN
cblr-1707	312	4	sheet	sheet	NOUN
cblr-1707	312	5	,	,	PUNCT
cblr-1707	312	6	it	it	PRON
cblr-1707	312	7	consists	consist	VERB
cblr-1707	312	8	of	of	ADP
cblr-1707	312	9	assets	asset	NOUN
cblr-1707	312	10	(	(	PUNCT
cblr-1707	312	11	left	leave	VERB
cblr-1707	312	12	side	side	NOUN
cblr-1707	312	13	)	)	PUNCT
cblr-1707	312	14	and	and	CCONJ
cblr-1707	312	15	claims	claim	NOUN
cblr-1707	312	16	(	(	PUNCT
cblr-1707	312	17	right	right	ADJ
cblr-1707	312	18	side	side	NOUN
cblr-1707	312	19	)	)	PUNCT
cblr-1707	312	20	.	.	PUNCT
cblr-1707	313	1	under	under	ADP
cblr-1707	313	2	normal	normal	ADJ
cblr-1707	313	3	conditions	condition	NOUN
cblr-1707	313	4	,	,	PUNCT
cblr-1707	313	5	the	the	DET
cblr-1707	313	6	central	central	PROPN
cblr-1707	313	7	bank	bank	NOUN
cblr-1707	313	8	’s	’s	PART
cblr-1707	313	9	asset	asset	NOUN
cblr-1707	313	10	portfolio	portfolio	NOUN
cblr-1707	313	11	consists	consist	VERB
cblr-1707	313	12	exclusively	exclusively	ADV
cblr-1707	313	13	,	,	PUNCT
cblr-1707	313	14	or	or	CCONJ
cblr-1707	313	15	nearly	nearly	ADV
cblr-1707	313	16	exclusively	exclusively	ADV
cblr-1707	313	17	,	,	PUNCT
cblr-1707	313	18	of	of	ADP
cblr-1707	313	19	government	government	NOUN
cblr-1707	313	20	securities	security	NOUN
cblr-1707	313	21	.	.	PUNCT
cblr-1707	314	1	it	it	PRON
cblr-1707	314	2	is	be	AUX
cblr-1707	314	3	a	a	DET
cblr-1707	314	4	safe	safe	ADJ
cblr-1707	314	5	,	,	PUNCT
cblr-1707	314	6	liquid	liquid	ADJ
cblr-1707	314	7	,	,	PUNCT
cblr-1707	314	8	unexciting	unexciting	ADJ
cblr-1707	314	9	portfolio	portfolio	NOUN
cblr-1707	314	10	.	.	PUNCT
cblr-1707	315	1	the	the	DET
cblr-1707	315	2	right	right	ADJ
cblr-1707	315	3	side	side	NOUN
cblr-1707	315	4	of	of	ADP
cblr-1707	315	5	the	the	DET
cblr-1707	315	6	central	central	PROPN
cblr-1707	315	7	bank	bank	NOUN
cblr-1707	315	8	’s	’s	PART
cblr-1707	315	9	balance	balance	NOUN
cblr-1707	315	10	sheet	sheet	NOUN
cblr-1707	315	11	is	be	AUX
cblr-1707	315	12	what	what	PRON
cblr-1707	315	13	makes	make	VERB
cblr-1707	315	14	it	it	PRON
cblr-1707	315	15	unique	unique	ADJ
cblr-1707	315	16	.	.	PUNCT
cblr-1707	316	1	it	it	PRON
cblr-1707	316	2	consists	consist	VERB
cblr-1707	316	3	mostly	mostly	ADV
cblr-1707	316	4	of	of	ADP
cblr-1707	316	5	base	base	ADJ
cblr-1707	316	6	money	money	NOUN
cblr-1707	316	7	:	:	PUNCT
cblr-1707	316	8	outstanding	outstanding	ADJ
cblr-1707	316	9	paper	paper	NOUN
cblr-1707	316	10	currency	currency	NOUN
cblr-1707	316	11	plus	plus	CCONJ
cblr-1707	316	12	“	"	PUNCT
cblr-1707	316	13	reserve	reserve	NOUN
cblr-1707	316	14	balances	balance	NOUN
cblr-1707	316	15	,	,	PUNCT
cblr-1707	316	16	”	"	PUNCT
cblr-1707	316	17	which	which	PRON
cblr-1707	316	18	are	be	AUX
cblr-1707	316	19	unconditional	unconditional	ADJ
cblr-1707	316	20	promises	promise	NOUN
cblr-1707	316	21	to	to	PART
cblr-1707	316	22	deliver	deliver	VERB
cblr-1707	316	23	paper	paper	NOUN
cblr-1707	316	24	currency	currency	NOUN
cblr-1707	316	25	on	on	ADP
cblr-1707	316	26	demand	demand	NOUN
cblr-1707	316	27	.	.	PUNCT
cblr-1707	317	1	while	while	SCONJ
cblr-1707	317	2	anyone	anyone	PRON
cblr-1707	317	3	can	can	AUX
cblr-1707	317	4	hold	hold	VERB
cblr-1707	317	5	paper	paper	NOUN
cblr-1707	317	6	currency	currency	NOUN
cblr-1707	317	7	,	,	PUNCT
cblr-1707	317	8	reserve	reserve	NOUN
cblr-1707	317	9	balances	balance	NOUN
cblr-1707	317	10	may	may	AUX
cblr-1707	317	11	be	be	AUX
cblr-1707	317	12	held	hold	VERB
cblr-1707	317	13	only	only	ADV
cblr-1707	317	14	by	by	ADP
cblr-1707	317	15	banks	bank	NOUN
cblr-1707	317	16	(	(	PUNCT
cblr-1707	317	17	and	and	CCONJ
cblr-1707	317	18	select	select	VERB
cblr-1707	317	19	other	other	ADJ
cblr-1707	317	20	governmental	governmental	ADJ
cblr-1707	317	21	or	or	CCONJ
cblr-1707	317	22	government	government	NOUN
cblr-1707	317	23	-	-	PUNCT
cblr-1707	317	24	sponsored	sponsor	VERB
cblr-1707	317	25	institutions	institution	NOUN
cblr-1707	317	26	—	—	PUNCT
cblr-1707	317	27	a	a	DET
cblr-1707	317	28	nuance	nuance	NOUN
cblr-1707	317	29	that	that	PRON
cblr-1707	317	30	will	will	AUX
cblr-1707	317	31	become	become	VERB
cblr-1707	317	32	important	important	ADJ
cblr-1707	317	33	below).47	below).47	NOUN
cblr-1707	317	34	ordinary	ordinary	ADJ
cblr-1707	317	35	citizens	citizen	NOUN
cblr-1707	317	36	and	and	CCONJ
cblr-1707	317	37	nonbank	nonbank	NOUN
cblr-1707	317	38	businesses	business	NOUN
cblr-1707	317	39	are	be	AUX
cblr-1707	317	40	not	not	PART
cblr-1707	317	41	permitted	permit	VERB
cblr-1707	317	42	to	to	PART
cblr-1707	317	43	own	own	VERB
cblr-1707	317	44	reserve	reserve	NOUN
cblr-1707	317	45	balances	balance	NOUN
cblr-1707	317	46	.	.	PUNCT
cblr-1707	318	1	reserve	reserve	NOUN
cblr-1707	318	2	balances	balance	NOUN
cblr-1707	318	3	are	be	AUX
cblr-1707	318	4	,	,	PUNCT
cblr-1707	318	5	in	in	ADP
cblr-1707	318	6	effect	effect	NOUN
cblr-1707	318	7	,	,	PUNCT
cblr-1707	318	8	transaction	transaction	NOUN
cblr-1707	318	9	accounts	account	VERB
cblr-1707	318	10	for	for	ADP
cblr-1707	318	11	commercial	commercial	ADJ
cblr-1707	318	12	banks.48	banks.48	PROPN
cblr-1707	318	13	they	they	PRON
cblr-1707	318	14	are	be	AUX
cblr-1707	318	15	the	the	DET
cblr-1707	318	16	primary	primary	ADJ
cblr-1707	318	17	medium	medium	NOUN
cblr-1707	318	18	through	through	ADP
cblr-1707	318	19	which	which	PRON
cblr-1707	318	20	banks	bank	NOUN
cblr-1707	318	21	make	make	VERB
cblr-1707	318	22	payments	payment	NOUN
cblr-1707	318	23	to	to	ADP
cblr-1707	318	24	one	one	NUM
cblr-1707	318	25	another	another	DET
cblr-1707	318	26	.	.	PUNCT
cblr-1707	319	1	47	47	NUM
cblr-1707	320	1	in	in	ADP
cblr-1707	320	2	addition	addition	NOUN
cblr-1707	320	3	to	to	ADP
cblr-1707	320	4	u.s	u.s	PROPN
cblr-1707	320	5	.	.	PROPN
cblr-1707	320	6	depository	depository	NOUN
cblr-1707	320	7	institutions	institution	NOUN
cblr-1707	320	8	,	,	PUNCT
cblr-1707	320	9	see	see	VERB
cblr-1707	320	10	12	12	NUM
cblr-1707	320	11	u.s.c	u.s.c	ADJ
cblr-1707	320	12	.	.	PUNCT
cblr-1707	321	1	§	§	PROPN
cblr-1707	321	2	342	342	NUM
cblr-1707	321	3	(	(	PUNCT
cblr-1707	321	4	2012	2012	NUM
cblr-1707	321	5	)	)	PUNCT
cblr-1707	321	6	,	,	PUNCT
cblr-1707	321	7	the	the	DET
cblr-1707	321	8	federal	federal	PROPN
cblr-1707	321	9	reserve	reserve	PROPN
cblr-1707	321	10	is	be	AUX
cblr-1707	321	11	authorized	authorize	VERB
cblr-1707	321	12	to	to	PART
cblr-1707	321	13	maintain	maintain	VERB
cblr-1707	321	14	accounts	account	NOUN
cblr-1707	321	15	for	for	ADP
cblr-1707	321	16	the	the	DET
cblr-1707	321	17	u.s	u.s	PROPN
cblr-1707	321	18	.	.	PROPN
cblr-1707	321	19	treasury	treasury	PROPN
cblr-1707	321	20	,	,	PUNCT
cblr-1707	321	21	see	see	VERB
cblr-1707	321	22	i	i	PROPN
cblr-1707	321	23	d.	d.	PROPN
cblr-1707	321	24	§	§	PROPN
cblr-1707	321	25	391	391	NUM
cblr-1707	321	26	,	,	PUNCT
cblr-1707	321	27	certain	certain	ADJ
cblr-1707	321	28	government	government	NOUN
cblr-1707	321	29	-	-	PUNCT
cblr-1707	321	30	sponsored	sponsor	VERB
cblr-1707	321	31	enterprises	enterprise	NOUN
cblr-1707	321	32	in	in	ADP
cblr-1707	321	33	the	the	DET
cblr-1707	321	34	residential	residential	ADJ
cblr-1707	321	35	mortgage	mortgage	NOUN
cblr-1707	321	36	area	area	NOUN
cblr-1707	321	37	,	,	PUNCT
cblr-1707	321	38	see	see	VERB
cblr-1707	321	39	i	i	PROPN
cblr-1707	321	40	d.	d.	PROPN
cblr-1707	321	41	§	§	PROPN
cblr-1707	321	42	§	§	PROPN
cblr-1707	321	43	1435	1435	NUM
cblr-1707	321	44	,	,	PUNCT
cblr-1707	321	45	1452(d	1452(d	NUM
cblr-1707	321	46	)	)	PUNCT
cblr-1707	321	47	,	,	PUNCT
cblr-1707	321	48	1723a(g	1723a(g	NUM
cblr-1707	321	49	)	)	PUNCT
cblr-1707	321	50	,	,	PUNCT
cblr-1707	321	51	foreign	foreign	ADJ
cblr-1707	321	52	governments	government	NOUN
cblr-1707	321	53	,	,	PUNCT
cblr-1707	321	54	banks	bank	NOUN
cblr-1707	321	55	,	,	PUNCT
cblr-1707	321	56	and	and	CCONJ
cblr-1707	321	57	central	central	ADJ
cblr-1707	321	58	banks	bank	NOUN
cblr-1707	321	59	,	,	PUNCT
cblr-1707	321	60	see	see	VERB
cblr-1707	321	61	i	i	PROPN
cblr-1707	321	62	d.	d.	PROPN
cblr-1707	321	63	§	§	PROPN
cblr-1707	321	64	§	§	PROPN
cblr-1707	321	65	347d	347d	PROPN
cblr-1707	321	66	,	,	PUNCT
cblr-1707	321	67	358	358	NUM
cblr-1707	321	68	,	,	PUNCT
cblr-1707	321	69	certain	certain	ADJ
cblr-1707	321	70	international	international	ADJ
cblr-1707	321	71	organizations	organization	NOUN
cblr-1707	321	72	,	,	PUNCT
cblr-1707	321	73	such	such	ADJ
cblr-1707	321	74	as	as	ADP
cblr-1707	321	75	the	the	DET
cblr-1707	321	76	international	international	ADJ
cblr-1707	321	77	monetary	monetary	ADJ
cblr-1707	321	78	fund	fund	NOUN
cblr-1707	321	79	and	and	CCONJ
cblr-1707	321	80	the	the	DET
cblr-1707	321	81	world	world	PROPN
cblr-1707	321	82	bank	bank	PROPN
cblr-1707	321	83	,	,	PUNCT
cblr-1707	321	84	see	see	VERB
cblr-1707	321	85	22	22	NUM
cblr-1707	321	86	u.s.c	u.s.c	ADJ
cblr-1707	321	87	.	.	PUNCT
cblr-1707	322	1	§	§	PROPN
cblr-1707	322	2	286d	286d	PROPN
cblr-1707	322	3	(	(	PUNCT
cblr-1707	322	4	2012	2012	NUM
cblr-1707	322	5	)	)	PUNCT
cblr-1707	322	6	,	,	PUNCT
cblr-1707	322	7	and	and	CCONJ
cblr-1707	322	8	certain	certain	ADJ
cblr-1707	322	9	designated	designate	VERB
cblr-1707	322	10	financial	financial	ADJ
cblr-1707	322	11	market	market	NOUN
cblr-1707	322	12	utilities	utility	NOUN
cblr-1707	322	13	,	,	PUNCT
cblr-1707	322	14	see	see	VERB
cblr-1707	322	15	12	12	NUM
cblr-1707	322	16	u.s.c	u.s.c	ADJ
cblr-1707	322	17	.	.	PUNCT
cblr-1707	323	1	§	§	PROPN
cblr-1707	323	2	5465	5465	NUM
cblr-1707	323	3	(	(	PUNCT
cblr-1707	323	4	2012	2012	NUM
cblr-1707	323	5	)	)	PUNCT
cblr-1707	323	6	,	,	PUNCT
cblr-1707	323	7	as	as	ADV
cblr-1707	323	8	well	well	ADV
cblr-1707	323	9	as	as	ADP
cblr-1707	323	10	assorted	assort	VERB
cblr-1707	323	11	other	other	ADJ
cblr-1707	323	12	governmental	governmental	ADJ
cblr-1707	323	13	and	and	CCONJ
cblr-1707	323	14	government	government	NOUN
cblr-1707	323	15	-	-	PUNCT
cblr-1707	323	16	sponsored	sponsor	VERB
cblr-1707	323	17	entities	entity	NOUN
cblr-1707	323	18	omitted	omit	VERB
cblr-1707	323	19	here	here	ADV
cblr-1707	323	20	.	.	PUNCT
cblr-1707	324	1	48	48	NUM
cblr-1707	324	2	“	"	PUNCT
cblr-1707	324	3	banks	bank	NOUN
cblr-1707	324	4	use	use	VERB
cblr-1707	324	5	these	these	DET
cblr-1707	324	6	accounts	account	NOUN
cblr-1707	324	7	to	to	PART
cblr-1707	324	8	make	make	VERB
cblr-1707	324	9	and	and	CCONJ
cblr-1707	324	10	receive	receive	VERB
cblr-1707	324	11	payments	payment	NOUN
cblr-1707	324	12	in	in	ADP
cblr-1707	324	13	much	much	ADV
cblr-1707	324	14	the	the	DET
cblr-1707	324	15	same	same	ADJ
cblr-1707	324	16	way	way	NOUN
cblr-1707	324	17	that	that	PRON
cblr-1707	324	18	a	a	DET
cblr-1707	324	19	customer	customer	NOUN
cblr-1707	324	20	would	would	AUX
cblr-1707	324	21	use	use	VERB
cblr-1707	324	22	his	his	PRON
cblr-1707	324	23	or	or	CCONJ
cblr-1707	324	24	her	her	PRON
cblr-1707	324	25	checking	check	VERB
cblr-1707	324	26	account	account	NOUN
cblr-1707	324	27	at	at	ADP
cblr-1707	324	28	a	a	DET
cblr-1707	324	29	commercial	commercial	ADJ
cblr-1707	324	30	bank	bank	NOUN
cblr-1707	324	31	.	.	PUNCT
cblr-1707	324	32	”	"	PUNCT
cblr-1707	325	1	fed	fed	PROPN
cblr-1707	325	2	.	.	PUNCT
cblr-1707	326	1	reserve	reserve	PROPN
cblr-1707	326	2	,	,	PUNCT
cblr-1707	326	3	the	the	DET
cblr-1707	326	4	federal	federal	PROPN
cblr-1707	326	5	reserve	reserve	PROPN
cblr-1707	326	6	system	system	NOUN
cblr-1707	326	7	:	:	PUNCT
cblr-1707	326	8	purposes	purpose	NOUN
cblr-1707	326	9	and	and	CCONJ
cblr-1707	326	10	functions	function	NOUN
cblr-1707	326	11	40	40	NUM
cblr-1707	326	12	(	(	PUNCT
cblr-1707	326	13	10th	10th	ADJ
cblr-1707	326	14	ed	ed	NOUN
cblr-1707	326	15	.	.	PROPN
cblr-1707	326	16	2016	2016	NUM
cblr-1707	326	17	)	)	PUNCT
cblr-1707	326	18	.	.	PUNCT
cblr-1707	327	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	327	2	no	no	NOUN
cblr-1707	327	3	.	.	PUNCT
cblr-1707	328	1	3:757	3:757	NUM
cblr-1707	328	2	]	]	X
cblr-1707	328	3	money	money	NOUN
cblr-1707	328	4	as	as	ADP
cblr-1707	328	5	infrastructure	infrastructure	NOUN
cblr-1707	328	6	775	775	NUM
cblr-1707	328	7	figure	figure	NOUN
cblr-1707	328	8	1	1	NUM
cblr-1707	328	9	:	:	PUNCT
cblr-1707	328	10	stylized	stylize	VERB
cblr-1707	328	11	central	central	ADJ
cblr-1707	328	12	bank	bank	NOUN
cblr-1707	328	13	balance	balance	NOUN
cblr-1707	328	14	sheet	sheet	NOUN
cblr-1707	328	15	while	while	SCONJ
cblr-1707	328	16	base	base	ADJ
cblr-1707	328	17	money	money	NOUN
cblr-1707	328	18	appears	appear	VERB
cblr-1707	328	19	as	as	ADP
cblr-1707	328	20	a	a	DET
cblr-1707	328	21	“	"	PUNCT
cblr-1707	328	22	liability	liability	NOUN
cblr-1707	328	23	”	"	PUNCT
cblr-1707	328	24	on	on	ADP
cblr-1707	328	25	the	the	DET
cblr-1707	328	26	central	central	PROPN
cblr-1707	328	27	bank	bank	NOUN
cblr-1707	328	28	’s	’s	PART
cblr-1707	328	29	balance	balance	NOUN
cblr-1707	328	30	sheet	sheet	NOUN
cblr-1707	328	31	,	,	PUNCT
cblr-1707	328	32	it	it	PRON
cblr-1707	328	33	is	be	AUX
cblr-1707	328	34	not	not	PART
cblr-1707	328	35	a	a	DET
cblr-1707	328	36	liability	liability	NOUN
cblr-1707	328	37	in	in	ADP
cblr-1707	328	38	any	any	DET
cblr-1707	328	39	meaningful	meaningful	ADJ
cblr-1707	328	40	economic	economic	ADJ
cblr-1707	328	41	sense.49	sense.49	PROPN
cblr-1707	328	42	paper	paper	NOUN
cblr-1707	328	43	currency	currency	NOUN
cblr-1707	328	44	holders	holder	NOUN
cblr-1707	328	45	are	be	AUX
cblr-1707	328	46	not	not	PART
cblr-1707	328	47	entitled	entitle	VERB
cblr-1707	328	48	to	to	ADP
cblr-1707	328	49	any	any	DET
cblr-1707	328	50	kind	kind	NOUN
cblr-1707	328	51	of	of	ADP
cblr-1707	328	52	contractual	contractual	ADJ
cblr-1707	328	53	performance	performance	NOUN
cblr-1707	328	54	from	from	ADP
cblr-1707	328	55	the	the	DET
cblr-1707	328	56	central	central	ADJ
cblr-1707	328	57	bank.50	bank.50	PROPN
cblr-1707	328	58	paper	paper	NOUN
cblr-1707	328	59	currency	currency	NOUN
cblr-1707	328	60	can	can	AUX
cblr-1707	328	61	not	not	PART
cblr-1707	328	62	default	default	VERB
cblr-1707	328	63	in	in	ADP
cblr-1707	328	64	any	any	DET
cblr-1707	328	65	ordinary	ordinary	ADJ
cblr-1707	328	66	legal	legal	ADJ
cblr-1707	328	67	sense	sense	NOUN
cblr-1707	328	68	,	,	PUNCT
cblr-1707	328	69	because	because	SCONJ
cblr-1707	328	70	paper	paper	NOUN
cblr-1707	328	71	currency	currency	NOUN
cblr-1707	328	72	does	do	AUX
cblr-1707	328	73	not	not	PART
cblr-1707	328	74	represent	represent	VERB
cblr-1707	328	75	any	any	DET
cblr-1707	328	76	actionable	actionable	ADJ
cblr-1707	328	77	legal	legal	ADJ
cblr-1707	328	78	obligation.51	obligation.51	NOUN
cblr-1707	328	79	reserve	reserve	NOUN
cblr-1707	328	80	balances	balance	NOUN
cblr-1707	328	81	are	be	AUX
cblr-1707	328	82	no	no	ADV
cblr-1707	328	83	different	different	ADJ
cblr-1707	328	84	.	.	PUNCT
cblr-1707	329	1	true	true	ADJ
cblr-1707	329	2	,	,	PUNCT
cblr-1707	329	3	they	they	PRON
cblr-1707	329	4	are	be	AUX
cblr-1707	329	5	promises	promise	NOUN
cblr-1707	329	6	to	to	PART
cblr-1707	329	7	deliver	deliver	VERB
cblr-1707	329	8	paper	paper	NOUN
cblr-1707	329	9	currency	currency	NOUN
cblr-1707	329	10	on	on	ADP
cblr-1707	329	11	demand	demand	NOUN
cblr-1707	329	12	,	,	PUNCT
cblr-1707	329	13	but	but	CCONJ
cblr-1707	329	14	49	49	NUM
cblr-1707	329	15	assume	assume	VERB
cblr-1707	329	16	a	a	DET
cblr-1707	329	17	modern	modern	ADJ
cblr-1707	329	18	“	"	PUNCT
cblr-1707	329	19	fiat	fiat	ADJ
cblr-1707	329	20	”	"	PUNCT
cblr-1707	329	21	money	money	NOUN
cblr-1707	329	22	system	system	NOUN
cblr-1707	329	23	in	in	ADP
cblr-1707	329	24	which	which	PRON
cblr-1707	329	25	currency	currency	NOUN
cblr-1707	329	26	lacks	lack	VERB
cblr-1707	329	27	intrinsic	intrinsic	ADJ
cblr-1707	329	28	value	value	NOUN
cblr-1707	329	29	and	and	CCONJ
cblr-1707	329	30	is	be	AUX
cblr-1707	329	31	not	not	PART
cblr-1707	329	32	redeemable	redeemable	ADJ
cblr-1707	329	33	for	for	ADP
cblr-1707	329	34	anything	anything	PRON
cblr-1707	329	35	else	else	ADV
cblr-1707	329	36	.	.	PUNCT
cblr-1707	330	1	50	50	NUM
cblr-1707	330	2	compare	compare	VERB
cblr-1707	330	3	12	12	NUM
cblr-1707	330	4	u.s.c	u.s.c	NOUN
cblr-1707	330	5	.	.	PUNCT
cblr-1707	331	1	§	§	PROPN
cblr-1707	331	2	411	411	NUM
cblr-1707	331	3	(	(	PUNCT
cblr-1707	331	4	2012	2012	NUM
cblr-1707	331	5	)	)	PUNCT
cblr-1707	331	6	(	(	PUNCT
cblr-1707	331	7	mandating	mandate	VERB
cblr-1707	331	8	that	that	SCONJ
cblr-1707	331	9	federal	federal	PROPN
cblr-1707	331	10	reserve	reserve	PROPN
cblr-1707	331	11	notes	note	NOUN
cblr-1707	331	12	“	"	PUNCT
cblr-1707	331	13	shall	shall	AUX
cblr-1707	331	14	be	be	AUX
cblr-1707	331	15	redeemed	redeem	VERB
cblr-1707	331	16	in	in	ADP
cblr-1707	331	17	lawful	lawful	ADJ
cblr-1707	331	18	money	money	NOUN
cblr-1707	331	19	on	on	ADP
cblr-1707	331	20	demand	demand	NOUN
cblr-1707	331	21	[	[	X
cblr-1707	331	22	.	.	X
cblr-1707	331	23	]	]	X
cblr-1707	331	24	”	"	PUNCT
cblr-1707	331	25	)	)	PUNCT
cblr-1707	331	26	,	,	PUNCT
cblr-1707	331	27	with	with	ADP
cblr-1707	331	28	31	31	NUM
cblr-1707	331	29	u.s.c	u.s.c	ADJ
cblr-1707	331	30	.	.	PUNCT
cblr-1707	332	1	§	§	PROPN
cblr-1707	332	2	5103	5103	NUM
cblr-1707	332	3	(	(	PUNCT
cblr-1707	332	4	2012	2012	NUM
cblr-1707	332	5	)	)	PUNCT
cblr-1707	332	6	(	(	PUNCT
cblr-1707	332	7	making	make	VERB
cblr-1707	332	8	federal	federal	ADJ
cblr-1707	332	9	reserve	reserve	PROPN
cblr-1707	332	10	notes	note	VERB
cblr-1707	332	11	legal	legal	ADJ
cblr-1707	332	12	tender	tender	NOUN
cblr-1707	332	13	)	)	PUNCT
cblr-1707	332	14	.	.	PUNCT
cblr-1707	333	1	here	here	ADV
cblr-1707	333	2	i	i	PRON
cblr-1707	333	3	am	be	AUX
cblr-1707	333	4	echoing	echo	VERB
cblr-1707	333	5	joseph	joseph	PROPN
cblr-1707	333	6	h.	h.	PROPN
cblr-1707	333	7	sommer	sommer	PROPN
cblr-1707	333	8	,	,	PUNCT
cblr-1707	333	9	where	where	SCONJ
cblr-1707	333	10	is	be	AUX
cblr-1707	333	11	a	a	DET
cblr-1707	333	12	bank	bank	NOUN
cblr-1707	333	13	account	account	NOUN
cblr-1707	333	14	?	?	PUNCT
cblr-1707	333	15	,	,	PUNCT
cblr-1707	333	16	57	57	NUM
cblr-1707	333	17	md	md	PROPN
cblr-1707	333	18	.	.	PUNCT
cblr-1707	333	19	l.	l.	PROPN
cblr-1707	333	20	rev	rev	PROPN
cblr-1707	333	21	.	.	PROPN
cblr-1707	333	22	1	1	NUM
cblr-1707	333	23	,	,	PUNCT
cblr-1707	333	24	13	13	NUM
cblr-1707	333	25	n.30	n.30	NOUN
cblr-1707	333	26	(	(	PUNCT
cblr-1707	333	27	1998	1998	NUM
cblr-1707	333	28	)	)	PUNCT
cblr-1707	333	29	.	.	PUNCT
cblr-1707	334	1	51	51	NUM
cblr-1707	334	2	in	in	ADP
cblr-1707	334	3	this	this	DET
cblr-1707	334	4	regard	regard	NOUN
cblr-1707	334	5	,	,	PUNCT
cblr-1707	334	6	federal	federal	ADJ
cblr-1707	334	7	reserve	reserve	NOUN
cblr-1707	334	8	liabilities	liability	NOUN
cblr-1707	334	9	differ	differ	VERB
cblr-1707	334	10	from	from	ADP
cblr-1707	334	11	,	,	PUNCT
cblr-1707	334	12	say	say	INTJ
cblr-1707	334	13	,	,	PUNCT
cblr-1707	334	14	u.s	u.s	PROPN
cblr-1707	334	15	.	.	PROPN
cblr-1707	334	16	treasury	treasury	PROPN
cblr-1707	334	17	bills	bill	NOUN
cblr-1707	334	18	.	.	PUNCT
cblr-1707	335	1	see	see	VERB
cblr-1707	335	2	robin	robin	PROPN
cblr-1707	335	3	greenwood	greenwood	PROPN
cblr-1707	335	4	,	,	PUNCT
cblr-1707	335	5	samuel	samuel	PROPN
cblr-1707	335	6	g.	g.	PROPN
cblr-1707	335	7	hanson	hanson	PROPN
cblr-1707	335	8	&	&	CCONJ
cblr-1707	335	9	jeremy	jeremy	PROPN
cblr-1707	335	10	c.	c.	PROPN
cblr-1707	335	11	stein	stein	PROPN
cblr-1707	335	12	,	,	PUNCT
cblr-1707	335	13	the	the	DET
cblr-1707	335	14	federal	federal	PROPN
cblr-1707	335	15	reserve	reserve	PROPN
cblr-1707	335	16	’s	’s	PART
cblr-1707	335	17	balance	balance	NOUN
cblr-1707	335	18	sheet	sheet	NOUN
cblr-1707	335	19	as	as	ADP
cblr-1707	335	20	a	a	DET
cblr-1707	335	21	financial	financial	ADJ
cblr-1707	335	22	-	-	PUNCT
cblr-1707	335	23	stability	stability	NOUN
cblr-1707	335	24	tool	tool	NOUN
cblr-1707	335	25	,	,	PUNCT
cblr-1707	335	26	2016	2016	NUM
cblr-1707	335	27	econ	econ	X
cblr-1707	335	28	.	.	PUNCT
cblr-1707	336	1	pol’y	pol’y	NOUN
cblr-1707	336	2	symp	symp	PROPN
cblr-1707	336	3	.	.	PUNCT
cblr-1707	337	1	proc	proc	PROPN
cblr-1707	337	2	.	.	PUNCT
cblr-1707	338	1	335	335	NUM
cblr-1707	338	2	,	,	PUNCT
cblr-1707	338	3	338	338	NUM
cblr-1707	338	4	(	(	PUNCT
cblr-1707	338	5	“	"	PUNCT
cblr-1707	338	6	[	[	X
cblr-1707	338	7	t]he	t]he	ADV
cblr-1707	338	8	fed	fed	PROPN
cblr-1707	338	9	has	have	VERB
cblr-1707	338	10	a	a	DET
cblr-1707	338	11	comparative	comparative	ADJ
cblr-1707	338	12	advantage	advantage	NOUN
cblr-1707	339	1	[	[	X
cblr-1707	339	2	over	over	ADP
cblr-1707	339	3	the	the	DET
cblr-1707	339	4	treasury	treasury	PROPN
cblr-1707	339	5	department	department	NOUN
cblr-1707	339	6	]	]	PUNCT
cblr-1707	339	7	in	in	ADP
cblr-1707	339	8	providing	provide	VERB
cblr-1707	339	9	very	very	ADV
cblr-1707	339	10	short	short	ADJ
cblr-1707	339	11	-	-	PUNCT
cblr-1707	339	12	term	term	NOUN
cblr-1707	339	13	government	government	NOUN
cblr-1707	339	14	liabilities	liability	NOUN
cblr-1707	339	15	,	,	PUNCT
cblr-1707	339	16	because	because	SCONJ
cblr-1707	339	17	as	as	ADP
cblr-1707	339	18	the	the	DET
cblr-1707	339	19	sole	sole	ADJ
cblr-1707	339	20	provider	provider	NOUN
cblr-1707	339	21	of	of	ADP
cblr-1707	339	22	the	the	DET
cblr-1707	339	23	final	final	ADJ
cblr-1707	339	24	means	mean	NOUN
cblr-1707	339	25	of	of	ADP
cblr-1707	339	26	payment	payment	NOUN
cblr-1707	339	27	,	,	PUNCT
cblr-1707	339	28	it	it	PRON
cblr-1707	339	29	does	do	AUX
cblr-1707	339	30	not	not	PART
cblr-1707	339	31	face	face	VERB
cblr-1707	339	32	the	the	DET
cblr-1707	339	33	same	same	ADJ
cblr-1707	339	34	kind	kind	NOUN
cblr-1707	339	35	of	of	ADP
cblr-1707	339	36	‘	'	PUNCT
cblr-1707	339	37	auction	auction	NOUN
cblr-1707	339	38	risk	risk	NOUN
cblr-1707	339	39	’	'	PUNCT
cblr-1707	339	40	that	that	SCONJ
cblr-1707	339	41	the	the	DET
cblr-1707	339	42	treasury	treasury	NOUN
cblr-1707	339	43	does	do	VERB
cblr-1707	339	44	.	.	PUNCT
cblr-1707	339	45	”	"	PUNCT
cblr-1707	339	46	)	)	PUNCT
cblr-1707	339	47	.	.	PUNCT
cblr-1707	340	1	figure	figure	NOUN
cblr-1707	340	2	1	1	NUM
cblr-1707	340	3	.	.	NUM
cblr-1707	340	4	stylized	stylize	VERB
cblr-1707	340	5	central	central	ADJ
cblr-1707	340	6	bank	bank	NOUN
cblr-1707	340	7	balance	balance	NOUN
cblr-1707	340	8	sheet	sheet	NOUN
cblr-1707	340	9	government	government	NOUN
cblr-1707	340	10	securities	security	NOUN
cblr-1707	340	11	paper	paper	NOUN
cblr-1707	340	12	currency	currency	NOUN
cblr-1707	340	13	outstanding	outstanding	PROPN
cblr-1707	340	14	reserve	reserve	PROPN
cblr-1707	340	15	balances	balance	NOUN
cblr-1707	340	16	equity	equity	NOUN
cblr-1707	340	17	base	base	NOUN
cblr-1707	340	18	money	money	NOUN
cblr-1707	340	19	"	"	PUNCT
cblr-1707	340	20	liabilities	liability	NOUN
cblr-1707	340	21	"	"	PUNCT
cblr-1707	340	22	assets	asset	NOUN
cblr-1707	340	23	claims	claim	VERB
cblr-1707	340	24	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	340	25	776	776	NUM
cblr-1707	340	26	columbia	columbia	PROPN
cblr-1707	340	27	business	business	NOUN
cblr-1707	340	28	law	law	PROPN
cblr-1707	340	29	review	review	NOUN
cblr-1707	340	30	[	[	X
cblr-1707	340	31	vol	vol	NOUN
cblr-1707	340	32	.	.	NOUN
cblr-1707	340	33	2018	2018	NUM
cblr-1707	341	1	this	this	PRON
cblr-1707	341	2	is	be	AUX
cblr-1707	341	3	a	a	DET
cblr-1707	341	4	“	"	PUNCT
cblr-1707	341	5	liability	liability	NOUN
cblr-1707	341	6	”	"	PUNCT
cblr-1707	341	7	without	without	ADP
cblr-1707	341	8	substance	substance	NOUN
cblr-1707	341	9	because	because	SCONJ
cblr-1707	341	10	the	the	DET
cblr-1707	341	11	central	central	ADJ
cblr-1707	341	12	bank	bank	NOUN
cblr-1707	341	13	simply	simply	ADV
cblr-1707	341	14	prints	print	VERB
cblr-1707	341	15	the	the	DET
cblr-1707	341	16	paper	paper	NOUN
cblr-1707	341	17	currency	currency	NOUN
cblr-1707	341	18	it	it	PRON
cblr-1707	341	19	delivers	deliver	VERB
cblr-1707	341	20	.	.	PUNCT
cblr-1707	342	1	the	the	DET
cblr-1707	342	2	obligation	obligation	NOUN
cblr-1707	342	3	is	be	AUX
cblr-1707	342	4	therefore	therefore	ADV
cblr-1707	342	5	trivial	trivial	ADJ
cblr-1707	342	6	—	—	PUNCT
cblr-1707	342	7	there	there	PRON
cblr-1707	342	8	is	be	VERB
cblr-1707	342	9	no	no	DET
cblr-1707	342	10	possibility	possibility	NOUN
cblr-1707	342	11	of	of	ADP
cblr-1707	342	12	default	default	NOUN
cblr-1707	342	13	.	.	PUNCT
cblr-1707	343	1	base	base	NOUN
cblr-1707	343	2	money	money	NOUN
cblr-1707	343	3	is	be	AUX
cblr-1707	343	4	unique	unique	ADJ
cblr-1707	343	5	among	among	ADP
cblr-1707	343	6	financial	financial	ADJ
cblr-1707	343	7	assets	asset	NOUN
cblr-1707	343	8	inasmuch	inasmuch	ADJ
cblr-1707	343	9	as	as	SCONJ
cblr-1707	343	10	it	it	PRON
cblr-1707	343	11	imposes	impose	VERB
cblr-1707	343	12	no	no	DET
cblr-1707	343	13	legally	legally	ADV
cblr-1707	343	14	cognizable	cognizable	ADJ
cblr-1707	343	15	obligation	obligation	NOUN
cblr-1707	343	16	on	on	ADP
cblr-1707	343	17	its	its	PRON
cblr-1707	343	18	issuer	issuer	NOUN
cblr-1707	343	19	.	.	PUNCT
cblr-1707	344	1	central	central	ADJ
cblr-1707	344	2	banks	bank	NOUN
cblr-1707	344	3	typically	typically	ADV
cblr-1707	344	4	increase	increase	VERB
cblr-1707	344	5	or	or	CCONJ
cblr-1707	344	6	decrease	decrease	VERB
cblr-1707	344	7	the	the	DET
cblr-1707	344	8	quantity	quantity	NOUN
cblr-1707	344	9	of	of	ADP
cblr-1707	344	10	base	base	ADJ
cblr-1707	344	11	money	money	NOUN
cblr-1707	344	12	outstanding	outstanding	ADJ
cblr-1707	344	13	by	by	ADP
cblr-1707	344	14	buying	buy	VERB
cblr-1707	344	15	or	or	CCONJ
cblr-1707	344	16	selling	sell	VERB
cblr-1707	344	17	assets	asset	NOUN
cblr-1707	344	18	—	—	PUNCT
cblr-1707	344	19	most	most	ADV
cblr-1707	344	20	commonly	commonly	ADV
cblr-1707	344	21	,	,	PUNCT
cblr-1707	344	22	government	government	NOUN
cblr-1707	344	23	securities	security	NOUN
cblr-1707	344	24	—	—	PUNCT
cblr-1707	344	25	in	in	ADP
cblr-1707	344	26	the	the	DET
cblr-1707	344	27	open	open	ADJ
cblr-1707	344	28	market	market	NOUN
cblr-1707	344	29	.	.	PUNCT
cblr-1707	345	1	these	these	DET
cblr-1707	345	2	transactions	transaction	NOUN
cblr-1707	345	3	are	be	AUX
cblr-1707	345	4	called	call	VERB
cblr-1707	345	5	“	"	PUNCT
cblr-1707	345	6	open	open	ADJ
cblr-1707	345	7	market	market	NOUN
cblr-1707	345	8	operations	operation	NOUN
cblr-1707	345	9	.	.	PUNCT
cblr-1707	345	10	”	"	PUNCT
cblr-1707	346	1	when	when	SCONJ
cblr-1707	346	2	it	it	PRON
cblr-1707	346	3	buys	buy	VERB
cblr-1707	346	4	a	a	DET
cblr-1707	346	5	security	security	NOUN
cblr-1707	346	6	,	,	PUNCT
cblr-1707	346	7	a	a	DET
cblr-1707	346	8	central	central	ADJ
cblr-1707	346	9	bank	bank	NOUN
cblr-1707	346	10	pays	pay	VERB
cblr-1707	346	11	for	for	ADP
cblr-1707	346	12	it	it	PRON
cblr-1707	346	13	by	by	ADP
cblr-1707	346	14	crediting	credit	VERB
cblr-1707	346	15	the	the	DET
cblr-1707	346	16	selling	sell	VERB
cblr-1707	346	17	bank	bank	NOUN
cblr-1707	346	18	’s	’s	PART
cblr-1707	346	19	reserve	reserve	PROPN
cblr-1707	346	20	balance.52	balance.52	PROPN
cblr-1707	346	21	base	base	NOUN
cblr-1707	346	22	money	money	NOUN
cblr-1707	346	23	is	be	AUX
cblr-1707	346	24	thereby	thereby	ADV
cblr-1707	346	25	created	create	VERB
cblr-1707	346	26	“	"	PUNCT
cblr-1707	346	27	out	out	ADP
cblr-1707	346	28	of	of	ADP
cblr-1707	346	29	thin	thin	ADJ
cblr-1707	346	30	air	air	NOUN
cblr-1707	346	31	,	,	PUNCT
cblr-1707	346	32	”	"	PUNCT
cblr-1707	346	33	by	by	ADP
cblr-1707	346	34	a	a	DET
cblr-1707	346	35	stroke	stroke	NOUN
cblr-1707	346	36	on	on	ADP
cblr-1707	346	37	a	a	DET
cblr-1707	346	38	computer	computer	NOUN
cblr-1707	346	39	keyboard	keyboard	NOUN
cblr-1707	346	40	.	.	PUNCT
cblr-1707	347	1	this	this	PRON
cblr-1707	347	2	is	be	AUX
cblr-1707	347	3	sometimes	sometimes	ADV
cblr-1707	347	4	loosely	loosely	ADV
cblr-1707	347	5	called	call	VERB
cblr-1707	347	6	“	"	PUNCT
cblr-1707	347	7	printing	printing	NOUN
cblr-1707	347	8	”	"	PUNCT
cblr-1707	347	9	money	money	NOUN
cblr-1707	347	10	,	,	PUNCT
cblr-1707	347	11	but	but	CCONJ
cblr-1707	347	12	this	this	PRON
cblr-1707	347	13	is	be	AUX
cblr-1707	347	14	figurative	figurative	ADJ
cblr-1707	347	15	language	language	NOUN
cblr-1707	347	16	;	;	PUNCT
cblr-1707	347	17	obviously	obviously	ADV
cblr-1707	347	18	no	no	DET
cblr-1707	347	19	literal	literal	ADJ
cblr-1707	347	20	printing	printing	NOUN
cblr-1707	347	21	is	be	AUX
cblr-1707	347	22	involved	involve	VERB
cblr-1707	347	23	when	when	SCONJ
cblr-1707	347	24	a	a	DET
cblr-1707	347	25	reserve	reserve	NOUN
cblr-1707	347	26	balance	balance	NOUN
cblr-1707	347	27	is	be	AUX
cblr-1707	347	28	credited	credit	VERB
cblr-1707	347	29	.	.	PUNCT
cblr-1707	348	1	the	the	DET
cblr-1707	348	2	central	central	PROPN
cblr-1707	348	3	bank	bank	PROPN
cblr-1707	348	4	’s	’s	PART
cblr-1707	348	5	balance	balance	NOUN
cblr-1707	348	6	sheet	sheet	NOUN
cblr-1707	348	7	has	have	AUX
cblr-1707	348	8	grown	grow	VERB
cblr-1707	348	9	,	,	PUNCT
cblr-1707	348	10	and	and	CCONJ
cblr-1707	348	11	more	more	ADJ
cblr-1707	348	12	base	base	NOUN
cblr-1707	348	13	money	money	NOUN
cblr-1707	348	14	is	be	AUX
cblr-1707	348	15	outstanding	outstanding	ADJ
cblr-1707	348	16	.	.	PUNCT
cblr-1707	349	1	all	all	DET
cblr-1707	349	2	else	else	ADV
cblr-1707	349	3	equal	equal	ADJ
cblr-1707	349	4	,	,	PUNCT
cblr-1707	349	5	the	the	DET
cblr-1707	349	6	macroeconomic	macroeconomic	ADJ
cblr-1707	349	7	effect	effect	NOUN
cblr-1707	349	8	should	should	AUX
cblr-1707	349	9	be	be	AUX
cblr-1707	349	10	stimulative	stimulative	ADJ
cblr-1707	349	11	.	.	PUNCT
cblr-1707	350	1	open	open	ADJ
cblr-1707	350	2	market	market	NOUN
cblr-1707	350	3	purchases	purchase	NOUN
cblr-1707	350	4	put	put	VERB
cblr-1707	350	5	downward	downward	ADJ
cblr-1707	350	6	pressure	pressure	NOUN
cblr-1707	350	7	on	on	ADP
cblr-1707	350	8	market	market	NOUN
cblr-1707	350	9	interest	interest	NOUN
cblr-1707	350	10	rates	rate	NOUN
cblr-1707	350	11	and	and	CCONJ
cblr-1707	350	12	upward	upward	ADJ
cblr-1707	350	13	pressure	pressure	NOUN
cblr-1707	350	14	on	on	ADP
cblr-1707	350	15	prices	price	NOUN
cblr-1707	350	16	in	in	ADP
cblr-1707	350	17	the	the	DET
cblr-1707	350	18	economy	economy	NOUN
cblr-1707	350	19	(	(	PUNCT
cblr-1707	350	20	i.e.	i.e.	X
cblr-1707	350	21	,	,	PUNCT
cblr-1707	350	22	they	they	PRON
cblr-1707	350	23	are	be	AUX
cblr-1707	350	24	inflationary	inflationary	ADJ
cblr-1707	350	25	)	)	PUNCT
cblr-1707	350	26	.	.	PUNCT
cblr-1707	351	1	this	this	PRON
cblr-1707	351	2	is	be	AUX
cblr-1707	351	3	known	know	VERB
cblr-1707	351	4	as	as	ADP
cblr-1707	351	5	monetary	monetary	ADJ
cblr-1707	351	6	“	"	PUNCT
cblr-1707	351	7	easing	easing	NOUN
cblr-1707	351	8	”	"	PUNCT
cblr-1707	351	9	or	or	CCONJ
cblr-1707	351	10	“	"	PUNCT
cblr-1707	351	11	accommodation	accommodation	NOUN
cblr-1707	351	12	.	.	PUNCT
cblr-1707	351	13	”	"	PUNCT
cblr-1707	352	1	open	open	ADJ
cblr-1707	352	2	market	market	NOUN
cblr-1707	352	3	sales	sale	NOUN
cblr-1707	352	4	work	work	VERB
cblr-1707	352	5	the	the	DET
cblr-1707	352	6	other	other	ADJ
cblr-1707	352	7	way	way	NOUN
cblr-1707	352	8	around	around	ADV
cblr-1707	352	9	.	.	PUNCT
cblr-1707	353	1	when	when	SCONJ
cblr-1707	353	2	the	the	DET
cblr-1707	353	3	central	central	ADJ
cblr-1707	353	4	bank	bank	NOUN
cblr-1707	353	5	sells	sell	VERB
cblr-1707	353	6	a	a	DET
cblr-1707	353	7	security	security	NOUN
cblr-1707	353	8	out	out	ADP
cblr-1707	353	9	of	of	ADP
cblr-1707	353	10	its	its	PRON
cblr-1707	353	11	portfolio	portfolio	NOUN
cblr-1707	353	12	,	,	PUNCT
cblr-1707	353	13	the	the	DET
cblr-1707	353	14	purchasing	purchase	VERB
cblr-1707	353	15	bank	bank	NOUN
cblr-1707	353	16	pays	pay	VERB
cblr-1707	353	17	for	for	ADP
cblr-1707	353	18	it	it	PRON
cblr-1707	353	19	through	through	ADP
cblr-1707	353	20	a	a	DET
cblr-1707	353	21	reduction	reduction	NOUN
cblr-1707	353	22	in	in	ADP
cblr-1707	353	23	its	its	PRON
cblr-1707	353	24	reserve	reserve	NOUN
cblr-1707	353	25	balance	balance	NOUN
cblr-1707	353	26	.	.	PUNCT
cblr-1707	354	1	the	the	DET
cblr-1707	354	2	central	central	PROPN
cblr-1707	354	3	bank	bank	PROPN
cblr-1707	354	4	’s	’s	PART
cblr-1707	354	5	balance	balance	NOUN
cblr-1707	354	6	sheet	sheet	NOUN
cblr-1707	354	7	shrinks	shrink	VERB
cblr-1707	354	8	;	;	PUNCT
cblr-1707	354	9	it	it	PRON
cblr-1707	354	10	has	have	AUX
cblr-1707	354	11	extinguished	extinguish	VERB
cblr-1707	354	12	a	a	DET
cblr-1707	354	13	reserve	reserve	NOUN
cblr-1707	354	14	balance	balance	NOUN
cblr-1707	354	15	,	,	PUNCT
cblr-1707	354	16	which	which	PRON
cblr-1707	354	17	means	mean	VERB
cblr-1707	354	18	less	less	ADJ
cblr-1707	354	19	base	base	ADJ
cblr-1707	354	20	money	money	NOUN
cblr-1707	354	21	is	be	AUX
cblr-1707	354	22	in	in	ADP
cblr-1707	354	23	circulation	circulation	NOUN
cblr-1707	354	24	.	.	PUNCT
cblr-1707	355	1	open	open	ADJ
cblr-1707	355	2	market	market	NOUN
cblr-1707	355	3	sales	sale	NOUN
cblr-1707	355	4	put	put	VERB
cblr-1707	355	5	upward	upward	ADJ
cblr-1707	355	6	pressure	pressure	NOUN
cblr-1707	355	7	on	on	ADP
cblr-1707	355	8	market	market	NOUN
cblr-1707	355	9	interest	interest	NOUN
cblr-1707	355	10	rates	rate	NOUN
cblr-1707	355	11	and	and	CCONJ
cblr-1707	355	12	downward	downward	ADJ
cblr-1707	355	13	pressure	pressure	NOUN
cblr-1707	355	14	on	on	ADP
cblr-1707	355	15	prices	price	NOUN
cblr-1707	355	16	,	,	PUNCT
cblr-1707	355	17	discouraging	discourage	VERB
cblr-1707	355	18	economic	economic	ADJ
cblr-1707	355	19	activity	activity	NOUN
cblr-1707	355	20	at	at	ADP
cblr-1707	355	21	the	the	DET
cblr-1707	355	22	margin	margin	NOUN
cblr-1707	355	23	.	.	PUNCT
cblr-1707	356	1	this	this	PRON
cblr-1707	356	2	is	be	AUX
cblr-1707	356	3	monetary	monetary	ADJ
cblr-1707	356	4	“	"	PUNCT
cblr-1707	356	5	tightening	tightening	NOUN
cblr-1707	356	6	”	"	PUNCT
cblr-1707	356	7	or	or	CCONJ
cblr-1707	356	8	“	"	PUNCT
cblr-1707	356	9	contractionary	contractionary	ADJ
cblr-1707	356	10	”	"	PUNCT
cblr-1707	356	11	monetary	monetary	ADJ
cblr-1707	356	12	policy	policy	NOUN
cblr-1707	356	13	.	.	PUNCT
cblr-1707	357	1	52	52	NUM
cblr-1707	357	2	if	if	SCONJ
cblr-1707	357	3	the	the	DET
cblr-1707	357	4	central	central	ADJ
cblr-1707	357	5	bank	bank	NOUN
cblr-1707	357	6	buys	buy	VERB
cblr-1707	357	7	the	the	DET
cblr-1707	357	8	security	security	NOUN
cblr-1707	357	9	from	from	ADP
cblr-1707	357	10	a	a	DET
cblr-1707	357	11	nonbank	nonbank	NOUN
cblr-1707	357	12	entity	entity	NOUN
cblr-1707	357	13	,	,	PUNCT
cblr-1707	357	14	it	it	PRON
cblr-1707	357	15	credits	credit	VERB
cblr-1707	357	16	the	the	DET
cblr-1707	357	17	reserve	reserve	PROPN
cblr-1707	357	18	balance	balance	NOUN
cblr-1707	357	19	of	of	ADP
cblr-1707	357	20	the	the	DET
cblr-1707	357	21	commercial	commercial	ADJ
cblr-1707	357	22	bank	bank	NOUN
cblr-1707	357	23	where	where	SCONJ
cblr-1707	357	24	the	the	DET
cblr-1707	357	25	seller	seller	NOUN
cblr-1707	357	26	maintains	maintain	VERB
cblr-1707	357	27	its	its	PRON
cblr-1707	357	28	deposit	deposit	NOUN
cblr-1707	357	29	account	account	NOUN
cblr-1707	357	30	,	,	PUNCT
cblr-1707	357	31	whereupon	whereupon	ADV
cblr-1707	357	32	that	that	PRON
cblr-1707	357	33	commercial	commercial	ADJ
cblr-1707	357	34	bank	bank	NOUN
cblr-1707	357	35	credits	credit	VERB
cblr-1707	357	36	the	the	DET
cblr-1707	357	37	seller	seller	NOUN
cblr-1707	357	38	’s	’s	PART
cblr-1707	357	39	deposit	deposit	NOUN
cblr-1707	357	40	account	account	NOUN
cblr-1707	357	41	.	.	PUNCT
cblr-1707	358	1	this	this	PRON
cblr-1707	358	2	is	be	AUX
cblr-1707	358	3	the	the	DET
cblr-1707	358	4	standard	standard	ADJ
cblr-1707	358	5	practice	practice	NOUN
cblr-1707	358	6	in	in	ADP
cblr-1707	358	7	the	the	DET
cblr-1707	358	8	united	united	PROPN
cblr-1707	358	9	states	states	PROPN
cblr-1707	358	10	;	;	PUNCT
cblr-1707	358	11	the	the	DET
cblr-1707	358	12	federal	federal	PROPN
cblr-1707	358	13	reserve	reserve	PROPN
cblr-1707	358	14	transacts	transact	VERB
cblr-1707	358	15	with	with	ADP
cblr-1707	358	16	a	a	DET
cblr-1707	358	17	designated	designate	VERB
cblr-1707	358	18	set	set	NOUN
cblr-1707	358	19	of	of	ADP
cblr-1707	358	20	about	about	ADV
cblr-1707	358	21	two	two	NUM
cblr-1707	358	22	dozen	dozen	NOUN
cblr-1707	358	23	securities	security	NOUN
cblr-1707	358	24	firms	firm	NOUN
cblr-1707	358	25	known	know	VERB
cblr-1707	358	26	as	as	ADP
cblr-1707	358	27	primary	primary	ADJ
cblr-1707	358	28	dealers	dealer	NOUN
cblr-1707	358	29	.	.	PUNCT
cblr-1707	359	1	the	the	DET
cblr-1707	359	2	main	main	ADJ
cblr-1707	359	3	text	text	NOUN
cblr-1707	359	4	omits	omit	VERB
cblr-1707	359	5	this	this	DET
cblr-1707	359	6	nuance	nuance	NOUN
cblr-1707	359	7	to	to	PART
cblr-1707	359	8	simplify	simplify	VERB
cblr-1707	359	9	the	the	DET
cblr-1707	359	10	exposition	exposition	NOUN
cblr-1707	359	11	;	;	PUNCT
cblr-1707	359	12	nothing	nothing	PRON
cblr-1707	359	13	turns	turn	VERB
cblr-1707	359	14	on	on	ADP
cblr-1707	359	15	it	it	PRON
cblr-1707	359	16	here	here	ADV
cblr-1707	359	17	.	.	PUNCT
cblr-1707	360	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	360	2	no	no	NOUN
cblr-1707	360	3	.	.	PUNCT
cblr-1707	361	1	3:757	3:757	NUM
cblr-1707	361	2	]	]	X
cblr-1707	361	3	money	money	NOUN
cblr-1707	361	4	as	as	ADP
cblr-1707	361	5	infrastructure	infrastructure	NOUN
cblr-1707	361	6	777	777	NUM
cblr-1707	361	7	like	like	ADP
cblr-1707	361	8	any	any	DET
cblr-1707	361	9	balance	balance	NOUN
cblr-1707	361	10	sheet	sheet	NOUN
cblr-1707	361	11	,	,	PUNCT
cblr-1707	361	12	the	the	DET
cblr-1707	361	13	central	central	ADJ
cblr-1707	361	14	bank	bank	NOUN
cblr-1707	361	15	’s	’s	PART
cblr-1707	361	16	balance	balance	NOUN
cblr-1707	361	17	sheet	sheet	NOUN
cblr-1707	361	18	has	have	VERB
cblr-1707	361	19	an	an	DET
cblr-1707	361	20	equity	equity	NOUN
cblr-1707	361	21	entry	entry	NOUN
cblr-1707	361	22	on	on	ADP
cblr-1707	361	23	its	its	PRON
cblr-1707	361	24	lower	low	ADJ
cblr-1707	361	25	right	right	ADJ
cblr-1707	361	26	side	side	NOUN
cblr-1707	361	27	.	.	PUNCT
cblr-1707	362	1	economically	economically	ADV
cblr-1707	362	2	,	,	PUNCT
cblr-1707	362	3	the	the	DET
cblr-1707	362	4	equity	equity	NOUN
cblr-1707	362	5	belongs	belong	VERB
cblr-1707	362	6	to	to	ADP
cblr-1707	362	7	the	the	DET
cblr-1707	362	8	government	government	NOUN
cblr-1707	362	9	as	as	ADP
cblr-1707	362	10	residual	residual	ADJ
cblr-1707	362	11	claimant.53	claimant.53	NOUN
cblr-1707	362	12	the	the	DET
cblr-1707	362	13	government	government	NOUN
cblr-1707	362	14	receives	receive	VERB
cblr-1707	362	15	a	a	DET
cblr-1707	362	16	revenue	revenue	NOUN
cblr-1707	362	17	stream	stream	NOUN
cblr-1707	362	18	by	by	ADP
cblr-1707	362	19	virtue	virtue	NOUN
cblr-1707	362	20	of	of	ADP
cblr-1707	362	21	this	this	DET
cblr-1707	362	22	equity	equity	NOUN
cblr-1707	362	23	ownership	ownership	NOUN
cblr-1707	362	24	.	.	PUNCT
cblr-1707	363	1	specifically	specifically	ADV
cblr-1707	363	2	,	,	PUNCT
cblr-1707	363	3	the	the	DET
cblr-1707	363	4	central	central	ADJ
cblr-1707	363	5	bank	bank	NOUN
cblr-1707	363	6	earns	earn	VERB
cblr-1707	363	7	interest	interest	NOUN
cblr-1707	363	8	on	on	ADP
cblr-1707	363	9	its	its	PRON
cblr-1707	363	10	asset	asset	NOUN
cblr-1707	363	11	portfolio	portfolio	NOUN
cblr-1707	363	12	and	and	CCONJ
cblr-1707	363	13	transfers	transfer	VERB
cblr-1707	363	14	the	the	DET
cblr-1707	363	15	interest	interest	NOUN
cblr-1707	363	16	to	to	ADP
cblr-1707	363	17	the	the	DET
cblr-1707	363	18	government	government	NOUN
cblr-1707	363	19	after	after	ADP
cblr-1707	363	20	deducting	deduct	VERB
cblr-1707	363	21	its	its	PRON
cblr-1707	363	22	own	own	ADJ
cblr-1707	363	23	expenses	expense	NOUN
cblr-1707	363	24	(	(	PUNCT
cblr-1707	363	25	discussed	discuss	VERB
cblr-1707	363	26	more	more	ADV
cblr-1707	363	27	below	below	ADV
cblr-1707	363	28	)	)	PUNCT
cblr-1707	363	29	.	.	PUNCT
cblr-1707	364	1	this	this	DET
cblr-1707	364	2	payment	payment	NOUN
cblr-1707	364	3	stream	stream	NOUN
cblr-1707	364	4	is	be	AUX
cblr-1707	364	5	what	what	PRON
cblr-1707	364	6	central	central	ADJ
cblr-1707	364	7	bankers	banker	NOUN
cblr-1707	364	8	and	and	CCONJ
cblr-1707	364	9	monetary	monetary	ADJ
cblr-1707	364	10	economists	economist	NOUN
cblr-1707	364	11	call	call	VERB
cblr-1707	364	12	“	"	PUNCT
cblr-1707	364	13	seigniorage”—government	seigniorage”—government	ADJ
cblr-1707	364	14	revenue	revenue	NOUN
cblr-1707	364	15	from	from	ADP
cblr-1707	364	16	money	money	NOUN
cblr-1707	364	17	creation	creation	NOUN
cblr-1707	364	18	.	.	PUNCT
cblr-1707	365	1	the	the	DET
cblr-1707	365	2	amounts	amount	NOUN
cblr-1707	365	3	are	be	AUX
cblr-1707	365	4	large	large	ADJ
cblr-1707	365	5	.	.	PUNCT
cblr-1707	366	1	the	the	DET
cblr-1707	366	2	fed	fed	PROPN
cblr-1707	366	3	transferred	transfer	VERB
cblr-1707	366	4	$	$	SYM
cblr-1707	366	5	98	98	NUM
cblr-1707	366	6	billion	billion	NUM
cblr-1707	366	7	,	,	PUNCT
cblr-1707	366	8	$	$	SYM
cblr-1707	366	9	92	92	NUM
cblr-1707	366	10	billion	billion	NUM
cblr-1707	366	11	,	,	PUNCT
cblr-1707	366	12	and	and	CCONJ
cblr-1707	366	13	$	$	SYM
cblr-1707	366	14	80	80	NUM
cblr-1707	366	15	billion	billion	NUM
cblr-1707	366	16	in	in	ADP
cblr-1707	366	17	earnings	earning	NOUN
cblr-1707	366	18	to	to	ADP
cblr-1707	366	19	the	the	DET
cblr-1707	366	20	treasury	treasury	PROPN
cblr-1707	366	21	department	department	NOUN
cblr-1707	366	22	in	in	ADP
cblr-1707	366	23	2015	2015	NUM
cblr-1707	366	24	,	,	PUNCT
cblr-1707	366	25	2016	2016	NUM
cblr-1707	366	26	,	,	PUNCT
cblr-1707	366	27	and	and	CCONJ
cblr-1707	366	28	2017	2017	NUM
cblr-1707	366	29	,	,	PUNCT
cblr-1707	366	30	respectively.54	respectively.54	PROPN
cblr-1707	366	31	now	now	ADV
cblr-1707	366	32	,	,	PUNCT
cblr-1707	366	33	add	add	VERB
cblr-1707	366	34	the	the	DET
cblr-1707	366	35	chartered	chartered	ADJ
cblr-1707	366	36	banking	banking	NOUN
cblr-1707	366	37	system	system	NOUN
cblr-1707	366	38	to	to	ADP
cblr-1707	366	39	the	the	DET
cblr-1707	366	40	picture	picture	NOUN
cblr-1707	366	41	.	.	PUNCT
cblr-1707	367	1	unlike	unlike	ADP
cblr-1707	367	2	central	central	ADJ
cblr-1707	367	3	banks	bank	NOUN
cblr-1707	367	4	,	,	PUNCT
cblr-1707	367	5	which	which	PRON
cblr-1707	367	6	issue	issue	VERB
cblr-1707	367	7	base	base	NOUN
cblr-1707	367	8	money	money	NOUN
cblr-1707	367	9	,	,	PUNCT
cblr-1707	367	10	ordinary	ordinary	ADJ
cblr-1707	367	11	commercial	commercial	ADJ
cblr-1707	367	12	banks	bank	NOUN
cblr-1707	367	13	must	must	AUX
cblr-1707	367	14	hold	hold	VERB
cblr-1707	367	15	reserves	reserve	NOUN
cblr-1707	367	16	of	of	ADP
cblr-1707	367	17	base	base	ADJ
cblr-1707	367	18	money	money	NOUN
cblr-1707	367	19	to	to	PART
cblr-1707	367	20	enable	enable	VERB
cblr-1707	367	21	them	they	PRON
cblr-1707	367	22	to	to	PART
cblr-1707	367	23	meet	meet	VERB
cblr-1707	367	24	withdrawals	withdrawal	NOUN
cblr-1707	367	25	by	by	ADP
cblr-1707	367	26	depositors	depositor	NOUN
cblr-1707	367	27	and	and	CCONJ
cblr-1707	367	28	other	other	ADJ
cblr-1707	367	29	claimants	claimant	NOUN
cblr-1707	367	30	.	.	PUNCT
cblr-1707	368	1	commercial	commercial	ADJ
cblr-1707	368	2	banks	bank	NOUN
cblr-1707	368	3	hold	hold	VERB
cblr-1707	368	4	base	base	NOUN
cblr-1707	368	5	money	money	NOUN
cblr-1707	368	6	reserves	reserve	NOUN
cblr-1707	368	7	amounting	amount	VERB
cblr-1707	368	8	to	to	ADP
cblr-1707	368	9	only	only	ADV
cblr-1707	368	10	a	a	DET
cblr-1707	368	11	fraction	fraction	NOUN
cblr-1707	368	12	of	of	ADP
cblr-1707	368	13	their	their	PRON
cblr-1707	368	14	outstanding	outstanding	ADJ
cblr-1707	368	15	deposit	deposit	NOUN
cblr-1707	368	16	liabilities	liability	NOUN
cblr-1707	368	17	.	.	PUNCT
cblr-1707	369	1	figure	figure	VERB
cblr-1707	369	2	2	2	NUM
cblr-1707	369	3	presents	present	VERB
cblr-1707	369	4	a	a	DET
cblr-1707	369	5	stylized	stylize	VERB
cblr-1707	369	6	commercial	commercial	ADJ
cblr-1707	369	7	bank	bank	NOUN
cblr-1707	369	8	balance	balance	NOUN
cblr-1707	369	9	sheet	sheet	NOUN
cblr-1707	369	10	.	.	PUNCT
cblr-1707	370	1	note	note	VERB
cblr-1707	370	2	that	that	SCONJ
cblr-1707	370	3	base	base	NOUN
cblr-1707	370	4	money	money	NOUN
cblr-1707	370	5	is	be	AUX
cblr-1707	370	6	an	an	DET
cblr-1707	370	7	asset	asset	NOUN
cblr-1707	370	8	on	on	ADP
cblr-1707	370	9	the	the	DET
cblr-1707	370	10	commercial	commercial	ADJ
cblr-1707	370	11	bank	bank	NOUN
cblr-1707	370	12	’s	’s	PART
cblr-1707	370	13	balance	balance	NOUN
cblr-1707	370	14	sheet	sheet	NOUN
cblr-1707	370	15	whereas	whereas	SCONJ
cblr-1707	370	16	it	it	PRON
cblr-1707	370	17	was	be	AUX
cblr-1707	370	18	a	a	DET
cblr-1707	370	19	liability	liability	NOUN
cblr-1707	370	20	on	on	ADP
cblr-1707	370	21	the	the	DET
cblr-1707	370	22	central	central	PROPN
cblr-1707	370	23	bank	bank	NOUN
cblr-1707	370	24	’s	’s	PART
cblr-1707	370	25	balance	balance	NOUN
cblr-1707	370	26	sheet	sheet	NOUN
cblr-1707	370	27	.	.	PUNCT
cblr-1707	371	1	the	the	DET
cblr-1707	371	2	central	central	PROPN
cblr-1707	371	3	bank	bank	PROPN
cblr-1707	371	4	issues	issue	NOUN
cblr-1707	371	5	base	base	VERB
cblr-1707	371	6	money	money	NOUN
cblr-1707	371	7	;	;	PUNCT
cblr-1707	371	8	commercial	commercial	ADJ
cblr-1707	371	9	banks	bank	NOUN
cblr-1707	371	10	hold	hold	VERB
cblr-1707	371	11	base	base	NOUN
cblr-1707	371	12	money	money	NOUN
cblr-1707	371	13	(	(	PUNCT
cblr-1707	371	14	consisting	consist	VERB
cblr-1707	371	15	of	of	ADP
cblr-1707	371	16	reserve	reserve	NOUN
cblr-1707	371	17	balances	balance	NOUN
cblr-1707	371	18	plus	plus	CCONJ
cblr-1707	371	19	vault	vault	NOUN
cblr-1707	371	20	cash	cash	NOUN
cblr-1707	371	21	)	)	PUNCT
cblr-1707	371	22	as	as	ADP
cblr-1707	371	23	reserves	reserve	NOUN
cblr-1707	371	24	.	.	PUNCT
cblr-1707	372	1	53	53	NUM
cblr-1707	372	2	in	in	ADP
cblr-1707	372	3	the	the	DET
cblr-1707	372	4	united	united	PROPN
cblr-1707	372	5	states	states	PROPN
cblr-1707	372	6	,	,	PUNCT
cblr-1707	372	7	stock	stock	NOUN
cblr-1707	372	8	ownership	ownership	NOUN
cblr-1707	372	9	of	of	ADP
cblr-1707	372	10	the	the	DET
cblr-1707	372	11	twelve	twelve	NUM
cblr-1707	372	12	regional	regional	ADJ
cblr-1707	372	13	federal	federal	ADJ
cblr-1707	372	14	reserve	reserve	NOUN
cblr-1707	372	15	banks	bank	NOUN
cblr-1707	372	16	is	be	AUX
cblr-1707	372	17	formally	formally	ADV
cblr-1707	372	18	vested	vest	VERB
cblr-1707	372	19	in	in	ADP
cblr-1707	372	20	“	"	PUNCT
cblr-1707	372	21	member	member	NOUN
cblr-1707	372	22	banks	bank	NOUN
cblr-1707	372	23	”	"	PUNCT
cblr-1707	372	24	of	of	ADP
cblr-1707	372	25	the	the	DET
cblr-1707	372	26	federal	federal	PROPN
cblr-1707	372	27	reserve	reserve	PROPN
cblr-1707	372	28	system	system	NOUN
cblr-1707	372	29	;	;	PUNCT
cblr-1707	372	30	however	however	ADV
cblr-1707	372	31	,	,	PUNCT
cblr-1707	372	32	this	this	DET
cblr-1707	372	33	stock	stock	NOUN
cblr-1707	372	34	is	be	AUX
cblr-1707	372	35	inalienable	inalienable	ADJ
cblr-1707	372	36	and	and	CCONJ
cblr-1707	372	37	carries	carry	VERB
cblr-1707	372	38	a	a	DET
cblr-1707	372	39	maximum	maximum	ADJ
cblr-1707	372	40	dividend	dividend	NOUN
cblr-1707	372	41	of	of	ADP
cblr-1707	372	42	six	six	NUM
cblr-1707	372	43	percent	percent	NOUN
cblr-1707	372	44	.	.	PUNCT
cblr-1707	373	1	see	see	VERB
cblr-1707	373	2	federal	federal	PROPN
cblr-1707	373	3	reserve	reserve	PROPN
cblr-1707	373	4	act	act	PROPN
cblr-1707	373	5	§	§	PROPN
cblr-1707	373	6	7(a	7(a	NUM
cblr-1707	373	7	)	)	PUNCT
cblr-1707	373	8	,	,	PUNCT
cblr-1707	373	9	12	12	NUM
cblr-1707	373	10	u.s.c	u.s.c	ADJ
cblr-1707	373	11	.	.	PUNCT
cblr-1707	374	1	§	§	PROPN
cblr-1707	374	2	289(a	289(a	PROPN
cblr-1707	374	3	)	)	PUNCT
cblr-1707	374	4	(	(	PUNCT
cblr-1707	374	5	2012	2012	NUM
cblr-1707	374	6	)	)	PUNCT
cblr-1707	374	7	.	.	PUNCT
cblr-1707	375	1	the	the	DET
cblr-1707	375	2	u.s	u.s	PROPN
cblr-1707	375	3	.	.	PROPN
cblr-1707	375	4	federal	federal	ADJ
cblr-1707	375	5	government	government	NOUN
cblr-1707	375	6	is	be	AUX
cblr-1707	375	7	the	the	DET
cblr-1707	375	8	de	de	X
cblr-1707	375	9	facto	facto	X
cblr-1707	375	10	residual	residual	ADJ
cblr-1707	375	11	claimant	claimant	NOUN
cblr-1707	375	12	and	and	CCONJ
cblr-1707	375	13	receives	receive	VERB
cblr-1707	375	14	the	the	DET
cblr-1707	375	15	vast	vast	ADJ
cblr-1707	375	16	majority	majority	NOUN
cblr-1707	375	17	of	of	ADP
cblr-1707	375	18	the	the	DET
cblr-1707	375	19	fed	fed	PROPN
cblr-1707	375	20	’s	’s	PART
cblr-1707	375	21	distributions	distribution	NOUN
cblr-1707	375	22	.	.	PUNCT
cblr-1707	376	1	54	54	NUM
cblr-1707	376	2	see	see	VERB
cblr-1707	376	3	press	press	NOUN
cblr-1707	376	4	release	release	NOUN
cblr-1707	376	5	,	,	PUNCT
cblr-1707	376	6	bd	bd	PROPN
cblr-1707	376	7	.	.	PROPN
cblr-1707	376	8	of	of	ADP
cblr-1707	376	9	governors	governor	NOUN
cblr-1707	376	10	of	of	ADP
cblr-1707	376	11	the	the	DET
cblr-1707	376	12	fed	fed	PROPN
cblr-1707	376	13	.	.	PUNCT
cblr-1707	377	1	reserve	reserve	PROPN
cblr-1707	377	2	sys	sys	PROPN
cblr-1707	377	3	.	.	PROPN
cblr-1707	377	4	,	,	PUNCT
cblr-1707	377	5	federal	federal	PROPN
cblr-1707	377	6	reserve	reserve	PROPN
cblr-1707	377	7	board	board	PROPN
cblr-1707	377	8	announces	announce	VERB
cblr-1707	377	9	reserve	reserve	PROPN
cblr-1707	377	10	bank	bank	PROPN
cblr-1707	377	11	income	income	NOUN
cblr-1707	377	12	and	and	CCONJ
cblr-1707	377	13	expense	expense	NOUN
cblr-1707	377	14	data	datum	NOUN
cblr-1707	377	15	and	and	CCONJ
cblr-1707	377	16	transfers	transfer	NOUN
cblr-1707	377	17	to	to	ADP
cblr-1707	377	18	the	the	DET
cblr-1707	377	19	treasury	treasury	NOUN
cblr-1707	377	20	for	for	ADP
cblr-1707	377	21	2017	2017	NUM
cblr-1707	377	22	(	(	PUNCT
cblr-1707	377	23	jan	jan	PROPN
cblr-1707	377	24	.	.	PROPN
cblr-1707	377	25	10	10	NUM
cblr-1707	377	26	,	,	PUNCT
cblr-1707	377	27	2018	2018	NUM
cblr-1707	377	28	)	)	PUNCT
cblr-1707	377	29	,	,	PUNCT
cblr-1707	377	30	https://www.federalreserve.gov/newsevents/pressreleases/other20180110a	https://www.federalreserve.gov/newsevents/pressreleases/other20180110a	PROPN
cblr-1707	377	31	.	.	PUNCT
cblr-1707	378	1	htm	htm	PROPN
cblr-1707	379	1	[	[	X
cblr-1707	379	2	https://perma.cc/2rsv-3uj7	https://perma.cc/2rsv-3uj7	X
cblr-1707	379	3	]	]	X
cblr-1707	379	4	.	.	PUNCT
cblr-1707	380	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	380	2	778	778	NUM
cblr-1707	380	3	columbia	columbia	PROPN
cblr-1707	380	4	business	business	NOUN
cblr-1707	380	5	law	law	PROPN
cblr-1707	380	6	review	review	NOUN
cblr-1707	380	7	[	[	X
cblr-1707	380	8	vol	vol	NOUN
cblr-1707	380	9	.	.	PUNCT
cblr-1707	380	10	2018	2018	NUM
cblr-1707	380	11	figure	figure	NOUN
cblr-1707	380	12	2	2	NUM
cblr-1707	380	13	:	:	PUNCT
cblr-1707	380	14	stylized	stylize	VERB
cblr-1707	380	15	commercial	commercial	ADJ
cblr-1707	380	16	bank	bank	NOUN
cblr-1707	380	17	balance	balance	NOUN
cblr-1707	380	18	sheet	sheet	NOUN
cblr-1707	380	19	two	two	NUM
cblr-1707	380	20	additional	additional	ADJ
cblr-1707	380	21	features	feature	NOUN
cblr-1707	380	22	of	of	ADP
cblr-1707	380	23	the	the	DET
cblr-1707	380	24	institutional	institutional	ADJ
cblr-1707	380	25	setting	setting	NOUN
cblr-1707	380	26	are	be	AUX
cblr-1707	380	27	important	important	ADJ
cblr-1707	380	28	to	to	ADP
cblr-1707	380	29	the	the	DET
cblr-1707	380	30	analysis	analysis	NOUN
cblr-1707	380	31	below	below	ADV
cblr-1707	380	32	.	.	PUNCT
cblr-1707	381	1	the	the	DET
cblr-1707	381	2	first	first	ADJ
cblr-1707	381	3	is	be	AUX
cblr-1707	381	4	reserve	reserve	NOUN
cblr-1707	381	5	requirements	requirement	NOUN
cblr-1707	381	6	(	(	PUNCT
cblr-1707	381	7	not	not	PART
cblr-1707	381	8	to	to	PART
cblr-1707	381	9	be	be	AUX
cblr-1707	381	10	confused	confuse	VERB
cblr-1707	381	11	with	with	ADP
cblr-1707	381	12	capital	capital	NOUN
cblr-1707	381	13	requirements55	requirements55	PROPN
cblr-1707	381	14	)	)	PUNCT
cblr-1707	381	15	.	.	PUNCT
cblr-1707	382	1	reserve	reserve	NOUN
cblr-1707	382	2	requirements	requirement	NOUN
cblr-1707	382	3	mandate	mandate	VERB
cblr-1707	382	4	that	that	SCONJ
cblr-1707	382	5	commercial	commercial	ADJ
cblr-1707	382	6	banks	bank	NOUN
cblr-1707	382	7	hold	hold	VERB
cblr-1707	382	8	reserves	reserve	NOUN
cblr-1707	382	9	of	of	ADP
cblr-1707	382	10	base	base	ADJ
cblr-1707	382	11	money	money	NOUN
cblr-1707	382	12	against	against	ADP
cblr-1707	382	13	certain	certain	ADJ
cblr-1707	382	14	categories	category	NOUN
cblr-1707	382	15	of	of	ADP
cblr-1707	382	16	deposit	deposit	NOUN
cblr-1707	382	17	liabilities	liability	NOUN
cblr-1707	382	18	—	—	PUNCT
cblr-1707	382	19	for	for	ADP
cblr-1707	382	20	simplicity	simplicity	NOUN
cblr-1707	382	21	,	,	PUNCT
cblr-1707	382	22	“	"	PUNCT
cblr-1707	382	23	transaction	transaction	NOUN
cblr-1707	382	24	accounts	account	NOUN
cblr-1707	382	25	.	.	PUNCT
cblr-1707	383	1	”56	”56	VERB
cblr-1707	383	2	for	for	ADP
cblr-1707	383	3	example	example	NOUN
cblr-1707	383	4	,	,	PUNCT
cblr-1707	383	5	under	under	ADP
cblr-1707	383	6	a	a	DET
cblr-1707	383	7	flat	flat	ADJ
cblr-1707	383	8	10	10	NUM
cblr-1707	383	9	%	%	NOUN
cblr-1707	383	10	reserve	reserve	NOUN
cblr-1707	383	11	requirement	requirement	NOUN
cblr-1707	383	12	,	,	PUNCT
cblr-1707	383	13	a	a	DET
cblr-1707	383	14	bank	bank	NOUN
cblr-1707	383	15	with	with	ADP
cblr-1707	383	16	$	$	SYM
cblr-1707	383	17	1	1	NUM
cblr-1707	383	18	billion	billion	NUM
cblr-1707	383	19	in	in	ADP
cblr-1707	383	20	outstanding	outstanding	ADJ
cblr-1707	383	21	transaction	transaction	NOUN
cblr-1707	383	22	account	account	NOUN
cblr-1707	383	23	liabilities	liability	NOUN
cblr-1707	383	24	would	would	AUX
cblr-1707	383	25	be	be	AUX
cblr-1707	383	26	required	require	VERB
cblr-1707	383	27	to	to	PART
cblr-1707	383	28	hold	hold	VERB
cblr-1707	383	29	base	base	NOUN
cblr-1707	383	30	money	money	NOUN
cblr-1707	383	31	reserves	reserve	NOUN
cblr-1707	383	32	of	of	ADP
cblr-1707	383	33	at	at	ADV
cblr-1707	383	34	least	least	ADV
cblr-1707	383	35	$	$	SYM
cblr-1707	383	36	100	100	NUM
cblr-1707	383	37	million	million	NUM
cblr-1707	383	38	.	.	PUNCT
cblr-1707	384	1	this	this	PRON
cblr-1707	384	2	is	be	AUX
cblr-1707	384	3	the	the	DET
cblr-1707	384	4	amount	amount	NOUN
cblr-1707	384	5	of	of	ADP
cblr-1707	384	6	“	"	PUNCT
cblr-1707	384	7	required	required	ADJ
cblr-1707	384	8	reserves	reserve	NOUN
cblr-1707	384	9	.	.	PUNCT
cblr-1707	384	10	”	"	PUNCT
cblr-1707	385	1	any	any	DET
cblr-1707	385	2	base	base	NOUN
cblr-1707	385	3	money	money	NOUN
cblr-1707	385	4	the	the	DET
cblr-1707	385	5	bank	bank	NOUN
cblr-1707	385	6	held	hold	VERB
cblr-1707	385	7	in	in	ADP
cblr-1707	385	8	excess	excess	NOUN
cblr-1707	385	9	of	of	ADP
cblr-1707	385	10	this	this	DET
cblr-1707	385	11	amount	amount	NOUN
cblr-1707	385	12	would	would	AUX
cblr-1707	385	13	be	be	AUX
cblr-1707	385	14	“	"	PUNCT
cblr-1707	385	15	excess	excess	ADJ
cblr-1707	385	16	reserves	reserve	NOUN
cblr-1707	385	17	.	.	PUNCT
cblr-1707	385	18	”	"	PUNCT
cblr-1707	386	1	reserve	reserve	NOUN
cblr-1707	386	2	requirements	requirement	NOUN
cblr-1707	386	3	are	be	AUX
cblr-1707	386	4	a	a	DET
cblr-1707	386	5	source	source	NOUN
cblr-1707	386	6	of	of	ADP
cblr-1707	386	7	demand	demand	NOUN
cblr-1707	386	8	for	for	ADP
cblr-1707	386	9	base	base	NOUN
cblr-1707	386	10	money	money	NOUN
cblr-1707	386	11	.	.	PUNCT
cblr-1707	387	1	it	it	PRON
cblr-1707	387	2	follows	follow	VERB
cblr-1707	387	3	that	that	SCONJ
cblr-1707	387	4	,	,	PUNCT
cblr-1707	387	5	under	under	ADP
cblr-1707	387	6	reserve	reserve	NOUN
cblr-1707	387	7	requirements	requirement	NOUN
cblr-1707	387	8	,	,	PUNCT
cblr-1707	387	9	the	the	DET
cblr-1707	387	10	quantity	quantity	NOUN
cblr-1707	387	11	of	of	ADP
cblr-1707	387	12	reserves	reserve	NOUN
cblr-1707	387	13	in	in	ADP
cblr-1707	387	14	the	the	DET
cblr-1707	387	15	banking	banking	NOUN
cblr-1707	387	16	system	system	NOUN
cblr-1707	387	17	constrains	constrain	VERB
cblr-1707	387	18	the	the	DET
cblr-1707	387	19	total	total	ADJ
cblr-1707	387	20	quantity	quantity	NOUN
cblr-1707	387	21	of	of	ADP
cblr-1707	387	22	transaction	transaction	NOUN
cblr-1707	387	23	accounts	account	VERB
cblr-1707	387	24	outstanding	outstanding	ADJ
cblr-1707	387	25	.	.	PUNCT
cblr-1707	388	1	for	for	ADP
cblr-1707	388	2	example	example	NOUN
cblr-1707	388	3	,	,	PUNCT
cblr-1707	388	4	if	if	SCONJ
cblr-1707	388	5	the	the	DET
cblr-1707	388	6	banking	banking	NOUN
cblr-1707	388	7	system	system	NOUN
cblr-1707	388	8	as	as	ADP
cblr-1707	388	9	a	a	DET
cblr-1707	388	10	whole	whole	NOUN
cblr-1707	388	11	has	have	VERB
cblr-1707	388	12	$	$	SYM
cblr-1707	388	13	100	100	NUM
cblr-1707	388	14	billion	billion	NUM
cblr-1707	388	15	in	in	ADP
cblr-1707	388	16	total	total	ADJ
cblr-1707	388	17	reserves	reserve	NOUN
cblr-1707	388	18	and	and	CCONJ
cblr-1707	388	19	the	the	DET
cblr-1707	388	20	reserve	reserve	NOUN
cblr-1707	388	21	requirement	requirement	NOUN
cblr-1707	388	22	is	be	AUX
cblr-1707	388	23	set	set	VERB
cblr-1707	388	24	at	at	ADP
cblr-1707	388	25	a	a	DET
cblr-1707	388	26	flat	flat	ADJ
cblr-1707	388	27	10	10	NUM
cblr-1707	388	28	%	%	NOUN
cblr-1707	388	29	,	,	PUNCT
cblr-1707	388	30	55	55	NUM
cblr-1707	388	31	capital	capital	NOUN
cblr-1707	388	32	requirements	requirement	NOUN
cblr-1707	388	33	obligate	obligate	VERB
cblr-1707	388	34	banks	bank	NOUN
cblr-1707	388	35	to	to	PART
cblr-1707	388	36	maintain	maintain	VERB
cblr-1707	388	37	equity	equity	NOUN
cblr-1707	388	38	financing	financing	NOUN
cblr-1707	388	39	in	in	ADP
cblr-1707	388	40	proportion	proportion	NOUN
cblr-1707	388	41	to	to	ADP
cblr-1707	388	42	their	their	PRON
cblr-1707	388	43	assets	asset	NOUN
cblr-1707	388	44	and	and	CCONJ
cblr-1707	388	45	other	other	ADJ
cblr-1707	388	46	(	(	PUNCT
cblr-1707	388	47	off	off	ADP
cblr-1707	388	48	-	-	PUNCT
cblr-1707	388	49	balance	balance	NOUN
cblr-1707	388	50	-	-	PUNCT
cblr-1707	388	51	sheet	sheet	NOUN
cblr-1707	388	52	)	)	PUNCT
cblr-1707	388	53	risk	risk	NOUN
cblr-1707	388	54	exposures	exposure	NOUN
cblr-1707	388	55	.	.	PUNCT
cblr-1707	389	1	see	see	VERB
cblr-1707	389	2	,	,	PUNCT
cblr-1707	389	3	e.g.	e.g.	ADV
cblr-1707	389	4	,	,	PUNCT
cblr-1707	389	5	12	12	NUM
cblr-1707	389	6	c.f.r	c.f.r	NOUN
cblr-1707	389	7	.	.	PUNCT
cblr-1707	390	1	pt	pt	PROPN
cblr-1707	390	2	.	.	PROPN
cblr-1707	390	3	3	3	NUM
cblr-1707	390	4	(	(	PUNCT
cblr-1707	390	5	2018	2018	NUM
cblr-1707	390	6	)	)	PUNCT
cblr-1707	390	7	(	(	PUNCT
cblr-1707	390	8	capital	capital	NOUN
cblr-1707	390	9	requirements	requirement	NOUN
cblr-1707	390	10	for	for	ADP
cblr-1707	390	11	national	national	ADJ
cblr-1707	390	12	banks	bank	NOUN
cblr-1707	390	13	)	)	PUNCT
cblr-1707	390	14	.	.	PUNCT
cblr-1707	391	1	56	56	NUM
cblr-1707	391	2	see	see	VERB
cblr-1707	391	3	federal	federal	PROPN
cblr-1707	391	4	reserve	reserve	PROPN
cblr-1707	391	5	act	act	PROPN
cblr-1707	391	6	§	§	PROPN
cblr-1707	391	7	19(b	19(b	NUM
cblr-1707	391	8	)	)	PUNCT
cblr-1707	391	9	,	,	PUNCT
cblr-1707	391	10	12	12	NUM
cblr-1707	391	11	u.s.c	u.s.c	ADJ
cblr-1707	391	12	.	.	PUNCT
cblr-1707	392	1	§	§	PROPN
cblr-1707	392	2	461(b	461(b	PROPN
cblr-1707	392	3	)	)	PUNCT
cblr-1707	392	4	(	(	PUNCT
cblr-1707	392	5	2012	2012	NUM
cblr-1707	392	6	)	)	PUNCT
cblr-1707	392	7	;	;	PUNCT
cblr-1707	392	8	12	12	NUM
cblr-1707	392	9	c.f.r	c.f.r	NOUN
cblr-1707	392	10	.	.	PUNCT
cblr-1707	393	1	pt	pt	PROPN
cblr-1707	393	2	.	.	PROPN
cblr-1707	393	3	204	204	NUM
cblr-1707	393	4	(	(	PUNCT
cblr-1707	393	5	2018	2018	NUM
cblr-1707	393	6	)	)	PUNCT
cblr-1707	393	7	.	.	PUNCT
cblr-1707	394	1	figure	figure	NOUN
cblr-1707	394	2	2	2	NUM
cblr-1707	394	3	.	.	NUM
cblr-1707	394	4	stylized	stylize	VERB
cblr-1707	394	5	commercial	commercial	ADJ
cblr-1707	394	6	bank	bank	NOUN
cblr-1707	394	7	balance	balance	NOUN
cblr-1707	394	8	sheet	sheet	NOUN
cblr-1707	394	9	loans	loan	NOUN
cblr-1707	394	10	and	and	CCONJ
cblr-1707	394	11	bonds	bond	NOUN
cblr-1707	394	12	deposit	deposit	NOUN
cblr-1707	394	13	liabilities	liability	NOUN
cblr-1707	394	14	equity	equity	NOUN
cblr-1707	394	15	assets	asset	NOUN
cblr-1707	394	16	claims	claim	NOUN
cblr-1707	394	17	base	base	VERB
cblr-1707	394	18	money	money	NOUN
cblr-1707	394	19	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	394	20	no	no	NOUN
cblr-1707	394	21	.	.	PUNCT
cblr-1707	395	1	3:757	3:757	NUM
cblr-1707	395	2	]	]	X
cblr-1707	395	3	money	money	NOUN
cblr-1707	395	4	as	as	ADP
cblr-1707	395	5	infrastructure	infrastructure	NOUN
cblr-1707	395	6	779	779	NUM
cblr-1707	395	7	then	then	ADV
cblr-1707	395	8	the	the	DET
cblr-1707	395	9	banking	banking	NOUN
cblr-1707	395	10	system	system	NOUN
cblr-1707	395	11	’s	’s	PART
cblr-1707	395	12	total	total	ADJ
cblr-1707	395	13	transaction	transaction	NOUN
cblr-1707	395	14	account	account	NOUN
cblr-1707	395	15	liabilities	liability	NOUN
cblr-1707	395	16	could	could	AUX
cblr-1707	395	17	be	be	AUX
cblr-1707	395	18	no	no	ADV
cblr-1707	395	19	higher	high	ADJ
cblr-1707	395	20	than	than	ADP
cblr-1707	395	21	$	$	SYM
cblr-1707	395	22	1	1	NUM
cblr-1707	395	23	trillion	trillion	NUM
cblr-1707	395	24	(	(	PUNCT
cblr-1707	395	25	$	$	SYM
cblr-1707	395	26	100	100	NUM
cblr-1707	395	27	billion	billion	NUM
cblr-1707	395	28	divided	divide	VERB
cblr-1707	395	29	by	by	ADP
cblr-1707	395	30	10	10	NUM
cblr-1707	395	31	%	%	NOUN
cblr-1707	395	32	)	)	PUNCT
cblr-1707	395	33	.	.	PUNCT
cblr-1707	396	1	if	if	SCONJ
cblr-1707	396	2	the	the	DET
cblr-1707	396	3	reserve	reserve	NOUN
cblr-1707	396	4	requirement	requirement	NOUN
cblr-1707	396	5	were	be	AUX
cblr-1707	396	6	5	5	NUM
cblr-1707	396	7	%	%	NOUN
cblr-1707	396	8	,	,	PUNCT
cblr-1707	396	9	then	then	ADV
cblr-1707	396	10	the	the	DET
cblr-1707	396	11	same	same	ADJ
cblr-1707	396	12	$	$	SYM
cblr-1707	396	13	100	100	NUM
cblr-1707	396	14	billion	billion	NUM
cblr-1707	396	15	in	in	ADP
cblr-1707	396	16	total	total	ADJ
cblr-1707	396	17	reserves	reserve	NOUN
cblr-1707	396	18	could	could	AUX
cblr-1707	396	19	support	support	VERB
cblr-1707	396	20	transaction	transaction	NOUN
cblr-1707	396	21	accounts	account	NOUN
cblr-1707	396	22	of	of	ADP
cblr-1707	396	23	up	up	ADP
cblr-1707	396	24	to	to	PART
cblr-1707	396	25	$	$	SYM
cblr-1707	396	26	2	2	NUM
cblr-1707	396	27	trillion	trillion	NUM
cblr-1707	396	28	(	(	PUNCT
cblr-1707	396	29	$	$	SYM
cblr-1707	396	30	100	100	NUM
cblr-1707	396	31	billion	billion	NUM
cblr-1707	396	32	divided	divide	VERB
cblr-1707	396	33	by	by	ADP
cblr-1707	396	34	5	5	NUM
cblr-1707	396	35	%	%	NOUN
cblr-1707	396	36	)	)	PUNCT
cblr-1707	396	37	.	.	PUNCT
cblr-1707	397	1	finally	finally	ADV
cblr-1707	397	2	,	,	PUNCT
cblr-1707	397	3	commercial	commercial	ADJ
cblr-1707	397	4	banks	bank	NOUN
cblr-1707	397	5	participate	participate	VERB
cblr-1707	397	6	in	in	ADP
cblr-1707	397	7	an	an	DET
cblr-1707	397	8	active	active	ADJ
cblr-1707	397	9	lending	lending	NOUN
cblr-1707	397	10	market	market	NOUN
cblr-1707	397	11	for	for	ADP
cblr-1707	397	12	reserve	reserve	NOUN
cblr-1707	397	13	balances	balance	NOUN
cblr-1707	397	14	,	,	PUNCT
cblr-1707	397	15	which	which	PRON
cblr-1707	397	16	in	in	ADP
cblr-1707	397	17	the	the	DET
cblr-1707	397	18	united	united	PROPN
cblr-1707	397	19	states	states	PROPN
cblr-1707	397	20	is	be	AUX
cblr-1707	397	21	called	call	VERB
cblr-1707	397	22	the	the	DET
cblr-1707	397	23	federal	federal	ADJ
cblr-1707	397	24	funds	fund	NOUN
cblr-1707	397	25	market	market	NOUN
cblr-1707	397	26	.	.	PUNCT
cblr-1707	398	1	a	a	DET
cblr-1707	398	2	federal	federal	ADJ
cblr-1707	398	3	funds	fund	NOUN
cblr-1707	398	4	transaction	transaction	NOUN
cblr-1707	398	5	consists	consist	VERB
cblr-1707	398	6	of	of	ADP
cblr-1707	398	7	a	a	DET
cblr-1707	398	8	short	short	ADJ
cblr-1707	398	9	-	-	PUNCT
cblr-1707	398	10	term	term	NOUN
cblr-1707	398	11	(	(	PUNCT
cblr-1707	398	12	typically	typically	ADV
cblr-1707	398	13	overnight	overnight	ADV
cblr-1707	398	14	)	)	PUNCT
cblr-1707	398	15	unsecured	unsecured	ADJ
cblr-1707	398	16	loan	loan	NOUN
cblr-1707	398	17	of	of	ADP
cblr-1707	398	18	reserve	reserve	NOUN
cblr-1707	398	19	balances	balance	NOUN
cblr-1707	398	20	by	by	ADP
cblr-1707	398	21	one	one	NUM
cblr-1707	398	22	authorized	authorize	VERB
cblr-1707	398	23	reserve	reserve	NOUN
cblr-1707	398	24	balance	balance	NOUN
cblr-1707	398	25	holder	holder	NOUN
cblr-1707	398	26	to	to	ADP
cblr-1707	398	27	another	another	PRON
cblr-1707	398	28	.	.	PUNCT
cblr-1707	399	1	the	the	DET
cblr-1707	399	2	interest	interest	NOUN
cblr-1707	399	3	rate	rate	NOUN
cblr-1707	399	4	on	on	ADP
cblr-1707	399	5	such	such	ADJ
cblr-1707	399	6	loans	loan	NOUN
cblr-1707	399	7	—	—	PUNCT
cblr-1707	399	8	the	the	DET
cblr-1707	399	9	federal	federal	ADJ
cblr-1707	399	10	funds	fund	NOUN
cblr-1707	399	11	rate	rate	NOUN
cblr-1707	399	12	—	—	PUNCT
cblr-1707	399	13	has	have	AUX
cblr-1707	399	14	for	for	ADP
cblr-1707	399	15	decades	decade	NOUN
cblr-1707	399	16	played	play	VERB
cblr-1707	399	17	a	a	DET
cblr-1707	399	18	central	central	ADJ
cblr-1707	399	19	role	role	NOUN
cblr-1707	399	20	in	in	ADP
cblr-1707	399	21	the	the	DET
cblr-1707	399	22	federal	federal	PROPN
cblr-1707	399	23	reserve	reserve	PROPN
cblr-1707	399	24	’s	’s	PART
cblr-1707	399	25	monetary	monetary	ADJ
cblr-1707	399	26	policy	policy	NOUN
cblr-1707	399	27	framework.57	framework.57	PROPN
cblr-1707	399	28	under	under	ADP
cblr-1707	399	29	normal	normal	ADJ
cblr-1707	399	30	conditions	condition	NOUN
cblr-1707	399	31	,	,	PUNCT
cblr-1707	399	32	the	the	DET
cblr-1707	399	33	fed	fed	PROPN
cblr-1707	399	34	conducts	conduct	VERB
cblr-1707	399	35	monetary	monetary	ADJ
cblr-1707	399	36	policy	policy	NOUN
cblr-1707	399	37	by	by	ADP
cblr-1707	399	38	announcing	announce	VERB
cblr-1707	399	39	,	,	PUNCT
cblr-1707	399	40	and	and	CCONJ
cblr-1707	399	41	seeking	seek	VERB
cblr-1707	399	42	to	to	PART
cblr-1707	399	43	achieve	achieve	VERB
cblr-1707	399	44	,	,	PUNCT
cblr-1707	399	45	a	a	DET
cblr-1707	399	46	target	target	NOUN
cblr-1707	399	47	federal	federal	ADJ
cblr-1707	399	48	funds	fund	NOUN
cblr-1707	399	49	rate	rate	NOUN
cblr-1707	399	50	.	.	PUNCT
cblr-1707	400	1	the	the	DET
cblr-1707	400	2	next	next	ADJ
cblr-1707	400	3	two	two	NUM
cblr-1707	400	4	sections	section	NOUN
cblr-1707	400	5	describe	describe	VERB
cblr-1707	400	6	the	the	DET
cblr-1707	400	7	mechanics	mechanic	NOUN
cblr-1707	400	8	and	and	CCONJ
cblr-1707	400	9	execution	execution	NOUN
cblr-1707	400	10	of	of	ADP
cblr-1707	400	11	this	this	DET
cblr-1707	400	12	process	process	NOUN
cblr-1707	400	13	.	.	PUNCT
cblr-1707	401	1	b.	b.	PROPN
cblr-1707	401	2	scarce	scarce	ADJ
cblr-1707	401	3	reserves	reserve	NOUN
cblr-1707	401	4	with	with	ADP
cblr-1707	401	5	this	this	DET
cblr-1707	401	6	institutional	institutional	ADJ
cblr-1707	401	7	setting	setting	NOUN
cblr-1707	401	8	as	as	ADP
cblr-1707	401	9	a	a	DET
cblr-1707	401	10	backdrop	backdrop	NOUN
cblr-1707	401	11	,	,	PUNCT
cblr-1707	401	12	we	we	PRON
cblr-1707	401	13	can	can	AUX
cblr-1707	401	14	now	now	ADV
cblr-1707	401	15	examine	examine	VERB
cblr-1707	401	16	the	the	DET
cblr-1707	401	17	two	two	NUM
cblr-1707	401	18	principal	principal	ADJ
cblr-1707	401	19	frameworks	framework	NOUN
cblr-1707	401	20	that	that	PRON
cblr-1707	401	21	modern	modern	ADJ
cblr-1707	401	22	central	central	ADJ
cblr-1707	401	23	banks	bank	NOUN
cblr-1707	401	24	use	use	VERB
cblr-1707	401	25	to	to	PART
cblr-1707	401	26	manage	manage	VERB
cblr-1707	401	27	short	short	ADJ
cblr-1707	401	28	-	-	PUNCT
cblr-1707	401	29	term	term	NOUN
cblr-1707	401	30	interest	interest	NOUN
cblr-1707	401	31	rates	rate	NOUN
cblr-1707	401	32	:	:	PUNCT
cblr-1707	401	33	reserve	reserve	NOUN
cblr-1707	401	34	scarcity	scarcity	NOUN
cblr-1707	401	35	and	and	CCONJ
cblr-1707	401	36	administered	administer	VERB
cblr-1707	401	37	rates	rate	NOUN
cblr-1707	401	38	.	.	PUNCT
cblr-1707	402	1	we	we	PRON
cblr-1707	402	2	begin	begin	VERB
cblr-1707	402	3	with	with	ADP
cblr-1707	402	4	reserve	reserve	NOUN
cblr-1707	402	5	scarcity	scarcity	NOUN
cblr-1707	402	6	.	.	PUNCT
cblr-1707	403	1	under	under	ADP
cblr-1707	403	2	scarce	scarce	ADJ
cblr-1707	403	3	-	-	PUNCT
cblr-1707	403	4	reserves	reserve	NOUN
cblr-1707	403	5	frameworks	framework	NOUN
cblr-1707	403	6	,	,	PUNCT
cblr-1707	403	7	reserve	reserve	NOUN
cblr-1707	403	8	requirements	requirement	NOUN
cblr-1707	403	9	(	(	PUNCT
cblr-1707	403	10	described	describe	VERB
cblr-1707	403	11	above	above	ADV
cblr-1707	403	12	)	)	PUNCT
cblr-1707	403	13	normally	normally	ADV
cblr-1707	403	14	play	play	VERB
cblr-1707	403	15	an	an	DET
cblr-1707	403	16	important	important	ADJ
cblr-1707	403	17	role	role	NOUN
cblr-1707	403	18	in	in	ADP
cblr-1707	403	19	monetary	monetary	ADJ
cblr-1707	403	20	policy.58	policy.58	NOUN
cblr-1707	403	21	recall	recall	VERB
cblr-1707	403	22	that	that	PRON
cblr-1707	403	23	reserve	reserve	NOUN
cblr-1707	403	24	requirements	requirement	NOUN
cblr-1707	403	25	obligate	obligate	VERB
cblr-1707	403	26	57	57	NUM
cblr-1707	403	27	the	the	DET
cblr-1707	403	28	federal	federal	PROPN
cblr-1707	403	29	reserve	reserve	PROPN
cblr-1707	403	30	has	have	AUX
cblr-1707	403	31	employed	employ	VERB
cblr-1707	403	32	a	a	DET
cblr-1707	403	33	federal	federal	ADJ
cblr-1707	403	34	funds	fund	NOUN
cblr-1707	403	35	target	target	NOUN
cblr-1707	403	36	rate	rate	NOUN
cblr-1707	403	37	since	since	SCONJ
cblr-1707	403	38	roughly	roughly	ADV
cblr-1707	403	39	1984	1984	NUM
cblr-1707	403	40	.	.	PUNCT
cblr-1707	404	1	see	see	VERB
cblr-1707	404	2	u.s	u.s	PROPN
cblr-1707	404	3	.	.	PROPN
cblr-1707	404	4	gov’t	gov’t	PROPN
cblr-1707	404	5	accountability	accountability	NOUN
cblr-1707	404	6	office	office	NOUN
cblr-1707	404	7	,	,	PUNCT
cblr-1707	404	8	gao-17	gao-17	NOUN
cblr-1707	404	9	-	-	SYM
cblr-1707	404	10	117	117	NUM
cblr-1707	404	11	,	,	PUNCT
cblr-1707	404	12	federal	federal	ADJ
cblr-1707	404	13	reserve	reserve	PROPN
cblr-1707	404	14	:	:	PUNCT
cblr-1707	404	15	observations	observation	NOUN
cblr-1707	404	16	on	on	ADP
cblr-1707	404	17	regulation	regulation	NOUN
cblr-1707	404	18	d	d	NOUN
cblr-1707	404	19	and	and	CCONJ
cblr-1707	404	20	the	the	DET
cblr-1707	404	21	use	use	NOUN
cblr-1707	404	22	of	of	ADP
cblr-1707	404	23	reserve	reserve	NOUN
cblr-1707	404	24	requirements	requirement	NOUN
cblr-1707	404	25	49	49	NUM
cblr-1707	404	26	(	(	PUNCT
cblr-1707	404	27	2016	2016	NUM
cblr-1707	404	28	)	)	PUNCT
cblr-1707	404	29	,	,	PUNCT
cblr-1707	404	30	https://www.gao.gov/products/gao-17117	https://www.gao.gov/products/gao-17117	X
cblr-1707	404	31	[	[	X
cblr-1707	404	32	https://perma.cc/9gh3-bebg	https://perma.cc/9gh3-bebg	X
cblr-1707	404	33	]	]	X
cblr-1707	404	34	.	.	PUNCT
cblr-1707	405	1	58	58	NUM
cblr-1707	405	2	strictly	strictly	ADV
cblr-1707	405	3	speaking	speak	VERB
cblr-1707	405	4	,	,	PUNCT
cblr-1707	405	5	scarce	scarce	ADJ
cblr-1707	405	6	-	-	PUNCT
cblr-1707	405	7	reserves	reserve	NOUN
cblr-1707	405	8	frameworks	framework	NOUN
cblr-1707	405	9	can	can	AUX
cblr-1707	405	10	function	function	VERB
cblr-1707	405	11	with	with	ADP
cblr-1707	405	12	or	or	CCONJ
cblr-1707	405	13	without	without	ADP
cblr-1707	405	14	reserve	reserve	NOUN
cblr-1707	405	15	requirements	requirement	NOUN
cblr-1707	405	16	.	.	PUNCT
cblr-1707	406	1	canada	canada	PROPN
cblr-1707	406	2	,	,	PUNCT
cblr-1707	406	3	australia	australia	PROPN
cblr-1707	406	4	,	,	PUNCT
cblr-1707	406	5	new	new	PROPN
cblr-1707	406	6	zealand	zealand	PROPN
cblr-1707	406	7	,	,	PUNCT
cblr-1707	406	8	and	and	CCONJ
cblr-1707	406	9	sweden	sweden	PROPN
cblr-1707	406	10	have	have	AUX
cblr-1707	406	11	maintained	maintain	VERB
cblr-1707	406	12	scarce	scarce	ADJ
cblr-1707	406	13	-	-	PUNCT
cblr-1707	406	14	reserves	reserve	NOUN
cblr-1707	406	15	frameworks	framework	NOUN
cblr-1707	406	16	without	without	ADP
cblr-1707	406	17	reserve	reserve	NOUN
cblr-1707	406	18	requirements	requirement	NOUN
cblr-1707	406	19	.	.	PUNCT
cblr-1707	407	1	see	see	VERB
cblr-1707	407	2	ulrich	ulrich	PROPN
cblr-1707	407	3	bindseil	bindseil	NOUN
cblr-1707	407	4	,	,	PUNCT
cblr-1707	407	5	evaluating	evaluate	VERB
cblr-1707	407	6	monetary	monetary	ADJ
cblr-1707	407	7	policy	policy	NOUN
cblr-1707	407	8	operational	operational	ADJ
cblr-1707	407	9	frameworks	framework	NOUN
cblr-1707	407	10	,	,	PUNCT
cblr-1707	407	11	2016	2016	NUM
cblr-1707	407	12	econ	econ	X
cblr-1707	407	13	.	.	PUNCT
cblr-1707	408	1	pol’y	pol’y	NOUN
cblr-1707	408	2	symp	symp	PROPN
cblr-1707	408	3	.	.	PUNCT
cblr-1707	409	1	proc	proc	PROPN
cblr-1707	409	2	.	.	PUNCT
cblr-1707	410	1	179	179	NUM
cblr-1707	410	2	,	,	PUNCT
cblr-1707	410	3	185	185	NUM
cblr-1707	410	4	(	(	PUNCT
cblr-1707	410	5	2016	2016	NUM
cblr-1707	410	6	)	)	PUNCT
cblr-1707	410	7	.	.	PUNCT
cblr-1707	411	1	commercial	commercial	ADJ
cblr-1707	411	2	banks	bank	NOUN
cblr-1707	411	3	need	need	VERB
cblr-1707	411	4	base	base	NOUN
cblr-1707	411	5	money	money	NOUN
cblr-1707	411	6	to	to	ADP
cblr-1707	411	7	clear	clear	ADJ
cblr-1707	411	8	payments	payment	NOUN
cblr-1707	411	9	,	,	PUNCT
cblr-1707	411	10	and	and	CCONJ
cblr-1707	411	11	central	central	ADJ
cblr-1707	411	12	banks	bank	NOUN
cblr-1707	411	13	penalize	penalize	VERB
cblr-1707	411	14	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	411	15	780	780	NUM
cblr-1707	411	16	columbia	columbia	PROPN
cblr-1707	411	17	business	business	NOUN
cblr-1707	411	18	law	law	NOUN
cblr-1707	411	19	review	review	NOUN
cblr-1707	412	1	[	[	X
cblr-1707	412	2	vol	vol	NOUN
cblr-1707	412	3	.	.	NOUN
cblr-1707	412	4	2018	2018	NUM
cblr-1707	412	5	commercial	commercial	ADJ
cblr-1707	412	6	banks	bank	NOUN
cblr-1707	412	7	to	to	PART
cblr-1707	412	8	maintain	maintain	VERB
cblr-1707	412	9	base	base	NOUN
cblr-1707	412	10	money	money	NOUN
cblr-1707	412	11	reserves	reserve	NOUN
cblr-1707	412	12	in	in	ADP
cblr-1707	412	13	proportion	proportion	NOUN
cblr-1707	412	14	to	to	ADP
cblr-1707	412	15	their	their	PRON
cblr-1707	412	16	transaction	transaction	NOUN
cblr-1707	412	17	account	account	NOUN
cblr-1707	412	18	liabilities	liability	NOUN
cblr-1707	412	19	.	.	PUNCT
cblr-1707	413	1	reserves	reserve	NOUN
cblr-1707	413	2	are	be	AUX
cblr-1707	413	3	“	"	PUNCT
cblr-1707	413	4	scarce	scarce	ADJ
cblr-1707	413	5	”	"	PUNCT
cblr-1707	413	6	when	when	SCONJ
cblr-1707	413	7	the	the	DET
cblr-1707	413	8	banking	banking	NOUN
cblr-1707	413	9	system	system	NOUN
cblr-1707	413	10	’s	’s	PART
cblr-1707	413	11	total	total	ADJ
cblr-1707	413	12	reserves	reserve	NOUN
cblr-1707	413	13	only	only	ADV
cblr-1707	413	14	slightly	slightly	ADV
cblr-1707	413	15	exceed	exceed	VERB
cblr-1707	413	16	required	required	ADJ
cblr-1707	413	17	reserves	reserve	NOUN
cblr-1707	413	18	—	—	PUNCT
cblr-1707	413	19	in	in	ADP
cblr-1707	413	20	other	other	ADJ
cblr-1707	413	21	words	word	NOUN
cblr-1707	413	22	,	,	PUNCT
cblr-1707	413	23	when	when	SCONJ
cblr-1707	413	24	excess	excess	ADJ
cblr-1707	413	25	reserves	reserve	NOUN
cblr-1707	413	26	are	be	AUX
cblr-1707	413	27	very	very	ADV
cblr-1707	413	28	small	small	ADJ
cblr-1707	413	29	.	.	PUNCT
cblr-1707	414	1	commercial	commercial	ADJ
cblr-1707	414	2	banks	bank	NOUN
cblr-1707	414	3	then	then	ADV
cblr-1707	414	4	have	have	VERB
cblr-1707	414	5	very	very	ADV
cblr-1707	414	6	little	little	ADJ
cblr-1707	414	7	headroom	headroom	NOUN
cblr-1707	414	8	to	to	PART
cblr-1707	414	9	expand	expand	VERB
cblr-1707	414	10	their	their	PRON
cblr-1707	414	11	balance	balance	NOUN
cblr-1707	414	12	sheets	sheet	NOUN
cblr-1707	414	13	by	by	ADP
cblr-1707	414	14	increasing	increase	VERB
cblr-1707	414	15	transaction	transaction	NOUN
cblr-1707	414	16	account	account	NOUN
cblr-1707	414	17	liabilities	liability	NOUN
cblr-1707	414	18	(	(	PUNCT
cblr-1707	414	19	an	an	DET
cblr-1707	414	20	attractive	attractive	ADJ
cblr-1707	414	21	funding	funding	NOUN
cblr-1707	414	22	source	source	NOUN
cblr-1707	414	23	)	)	PUNCT
cblr-1707	414	24	.	.	PUNCT
cblr-1707	415	1	under	under	ADP
cblr-1707	415	2	these	these	DET
cblr-1707	415	3	conditions	condition	NOUN
cblr-1707	415	4	,	,	PUNCT
cblr-1707	415	5	small	small	ADJ
cblr-1707	415	6	adjustments	adjustment	NOUN
cblr-1707	415	7	to	to	ADP
cblr-1707	415	8	the	the	DET
cblr-1707	415	9	base	base	NOUN
cblr-1707	415	10	money	money	NOUN
cblr-1707	415	11	supply	supply	NOUN
cblr-1707	415	12	can	can	AUX
cblr-1707	415	13	have	have	VERB
cblr-1707	415	14	a	a	DET
cblr-1707	415	15	big	big	ADJ
cblr-1707	415	16	impact	impact	NOUN
cblr-1707	415	17	on	on	ADP
cblr-1707	415	18	the	the	DET
cblr-1707	415	19	federal	federal	ADJ
cblr-1707	415	20	funds	fund	NOUN
cblr-1707	415	21	rate	rate	NOUN
cblr-1707	415	22	.	.	PUNCT
cblr-1707	416	1	specifically	specifically	ADV
cblr-1707	416	2	,	,	PUNCT
cblr-1707	416	3	under	under	ADP
cblr-1707	416	4	reserve	reserve	NOUN
cblr-1707	416	5	scarcity	scarcity	NOUN
cblr-1707	416	6	,	,	PUNCT
cblr-1707	416	7	a	a	DET
cblr-1707	416	8	modest	modest	ADJ
cblr-1707	416	9	base	base	NOUN
cblr-1707	416	10	money	money	NOUN
cblr-1707	416	11	injection	injection	NOUN
cblr-1707	416	12	by	by	ADP
cblr-1707	416	13	the	the	DET
cblr-1707	416	14	central	central	ADJ
cblr-1707	416	15	bank	bank	NOUN
cblr-1707	416	16	—	—	PUNCT
cblr-1707	416	17	typically	typically	ADV
cblr-1707	416	18	accomplished	accomplish	VERB
cblr-1707	416	19	by	by	ADP
cblr-1707	416	20	purchasing	purchase	VERB
cblr-1707	416	21	government	government	NOUN
cblr-1707	416	22	securities	security	NOUN
cblr-1707	416	23	on	on	ADP
cblr-1707	416	24	the	the	DET
cblr-1707	416	25	open	open	ADJ
cblr-1707	416	26	market	market	NOUN
cblr-1707	416	27	,	,	PUNCT
cblr-1707	416	28	resulting	result	VERB
cblr-1707	416	29	in	in	ADP
cblr-1707	416	30	credits	credit	NOUN
cblr-1707	416	31	to	to	ADP
cblr-1707	416	32	the	the	DET
cblr-1707	416	33	selling	sell	VERB
cblr-1707	416	34	banks	bank	NOUN
cblr-1707	416	35	’	'	PUNCT
cblr-1707	416	36	reserve	reserve	NOUN
cblr-1707	416	37	balances	balance	NOUN
cblr-1707	416	38	—	—	PUNCT
cblr-1707	416	39	will	will	AUX
cblr-1707	416	40	reduce	reduce	VERB
cblr-1707	416	41	the	the	DET
cblr-1707	416	42	federal	federal	ADJ
cblr-1707	416	43	funds	fund	NOUN
cblr-1707	416	44	rate	rate	VERB
cblr-1707	416	45	materially	materially	ADV
cblr-1707	416	46	.	.	PUNCT
cblr-1707	417	1	other	other	ADJ
cblr-1707	417	2	market	market	NOUN
cblr-1707	417	3	interest	interest	NOUN
cblr-1707	417	4	rates	rate	NOUN
cblr-1707	417	5	will	will	AUX
cblr-1707	417	6	usually	usually	ADV
cblr-1707	417	7	follow	follow	VERB
cblr-1707	417	8	,	,	PUNCT
cblr-1707	417	9	resulting	result	VERB
cblr-1707	417	10	in	in	ADP
cblr-1707	417	11	macroeconomic	macroeconomic	ADJ
cblr-1707	417	12	stimulus	stimulus	NOUN
cblr-1707	417	13	.	.	PUNCT
cblr-1707	418	1	conversely	conversely	ADV
cblr-1707	418	2	,	,	PUNCT
cblr-1707	418	3	a	a	DET
cblr-1707	418	4	small	small	ADJ
cblr-1707	418	5	base	base	NOUN
cblr-1707	418	6	money	money	NOUN
cblr-1707	418	7	drainage	drainage	NOUN
cblr-1707	418	8	by	by	ADP
cblr-1707	418	9	the	the	DET
cblr-1707	418	10	central	central	ADJ
cblr-1707	418	11	bank	bank	NOUN
cblr-1707	418	12	—	—	PUNCT
cblr-1707	418	13	typically	typically	ADV
cblr-1707	418	14	accomplished	accomplish	VERB
cblr-1707	418	15	by	by	ADP
cblr-1707	418	16	selling	sell	VERB
cblr-1707	418	17	portfolio	portfolio	NOUN
cblr-1707	418	18	securities	security	NOUN
cblr-1707	418	19	,	,	PUNCT
cblr-1707	418	20	resulting	result	VERB
cblr-1707	418	21	in	in	ADP
cblr-1707	418	22	debits	debit	NOUN
cblr-1707	418	23	to	to	ADP
cblr-1707	418	24	the	the	DET
cblr-1707	418	25	purchasing	purchase	VERB
cblr-1707	418	26	banks	bank	NOUN
cblr-1707	418	27	’	'	PUNCT
cblr-1707	418	28	reserve	reserve	NOUN
cblr-1707	418	29	balances	balance	NOUN
cblr-1707	418	30	—	—	PUNCT
cblr-1707	418	31	will	will	AUX
cblr-1707	418	32	increase	increase	VERB
cblr-1707	418	33	the	the	DET
cblr-1707	418	34	federal	federal	ADJ
cblr-1707	418	35	funds	fund	NOUN
cblr-1707	418	36	rate	rate	VERB
cblr-1707	418	37	materially	materially	ADV
cblr-1707	418	38	.	.	PUNCT
cblr-1707	419	1	other	other	ADJ
cblr-1707	419	2	market	market	NOUN
cblr-1707	419	3	interest	interest	NOUN
cblr-1707	419	4	rates	rate	NOUN
cblr-1707	419	5	tend	tend	VERB
cblr-1707	419	6	to	to	PART
cblr-1707	419	7	follow	follow	VERB
cblr-1707	419	8	,	,	PUNCT
cblr-1707	419	9	and	and	CCONJ
cblr-1707	419	10	the	the	DET
cblr-1707	419	11	macroeconomic	macroeconomic	ADJ
cblr-1707	419	12	effect	effect	NOUN
cblr-1707	419	13	is	be	AUX
cblr-1707	419	14	contractionary	contractionary	ADJ
cblr-1707	419	15	.	.	PUNCT
cblr-1707	420	1	in	in	ADP
cblr-1707	420	2	this	this	DET
cblr-1707	420	3	way	way	NOUN
cblr-1707	420	4	,	,	PUNCT
cblr-1707	420	5	scarce	scarce	ADJ
cblr-1707	420	6	reserves	reserve	NOUN
cblr-1707	420	7	create	create	VERB
cblr-1707	420	8	a	a	DET
cblr-1707	420	9	powerful	powerful	ADJ
cblr-1707	420	10	fulcrum	fulcrum	NOUN
cblr-1707	420	11	for	for	ADP
cblr-1707	420	12	monetary	monetary	ADJ
cblr-1707	420	13	policy	policy	NOUN
cblr-1707	420	14	transmission	transmission	NOUN
cblr-1707	420	15	.	.	PUNCT
cblr-1707	421	1	and	and	CCONJ
cblr-1707	421	2	,	,	PUNCT
cblr-1707	421	3	by	by	ADP
cblr-1707	421	4	and	and	CCONJ
cblr-1707	421	5	large	large	ADJ
cblr-1707	421	6	,	,	PUNCT
cblr-1707	421	7	this	this	PRON
cblr-1707	421	8	is	be	AUX
cblr-1707	421	9	how	how	SCONJ
cblr-1707	421	10	the	the	DET
cblr-1707	421	11	federal	federal	PROPN
cblr-1707	421	12	reserve	reserve	PROPN
cblr-1707	421	13	conducted	conduct	VERB
cblr-1707	421	14	monetary	monetary	ADJ
cblr-1707	421	15	policy	policy	NOUN
cblr-1707	421	16	until	until	ADP
cblr-1707	421	17	late	late	ADJ
cblr-1707	421	18	2008	2008	NUM
cblr-1707	421	19	,	,	PUNCT
cblr-1707	421	20	when	when	SCONJ
cblr-1707	421	21	the	the	DET
cblr-1707	421	22	global	global	ADJ
cblr-1707	421	23	financial	financial	ADJ
cblr-1707	421	24	crisis	crisis	NOUN
cblr-1707	421	25	reached	reach	VERB
cblr-1707	421	26	its	its	PRON
cblr-1707	421	27	acute	acute	ADJ
cblr-1707	421	28	phase	phase	NOUN
cblr-1707	421	29	.	.	PUNCT
cblr-1707	422	1	to	to	PART
cblr-1707	422	2	see	see	VERB
cblr-1707	422	3	the	the	DET
cblr-1707	422	4	scarce	scarce	ADJ
cblr-1707	422	5	-	-	PUNCT
cblr-1707	422	6	reserves	reserve	NOUN
cblr-1707	422	7	approach	approach	NOUN
cblr-1707	422	8	in	in	ADP
cblr-1707	422	9	action	action	NOUN
cblr-1707	422	10	,	,	PUNCT
cblr-1707	422	11	it	it	PRON
cblr-1707	422	12	is	be	AUX
cblr-1707	422	13	useful	useful	ADJ
cblr-1707	422	14	to	to	PART
cblr-1707	422	15	examine	examine	VERB
cblr-1707	422	16	the	the	DET
cblr-1707	422	17	monetary	monetary	ADJ
cblr-1707	422	18	easing	ease	VERB
cblr-1707	422	19	cycle	cycle	NOUN
cblr-1707	422	20	that	that	PRON
cblr-1707	422	21	the	the	DET
cblr-1707	422	22	federal	federal	PROPN
cblr-1707	422	23	reserve	reserve	PROPN
cblr-1707	422	24	commenced	commence	VERB
cblr-1707	422	25	in	in	ADP
cblr-1707	422	26	september	september	PROPN
cblr-1707	422	27	2007	2007	NUM
cblr-1707	422	28	,	,	PUNCT
cblr-1707	422	29	about	about	ADV
cblr-1707	422	30	a	a	DET
cblr-1707	422	31	year	year	NOUN
cblr-1707	422	32	earlier	early	ADV
cblr-1707	422	33	.	.	PUNCT
cblr-1707	423	1	immediately	immediately	ADV
cblr-1707	423	2	prior	prior	ADV
cblr-1707	423	3	to	to	ADP
cblr-1707	423	4	the	the	DET
cblr-1707	423	5	easing	ease	VERB
cblr-1707	423	6	cycle	cycle	NOUN
cblr-1707	423	7	,	,	PUNCT
cblr-1707	423	8	the	the	DET
cblr-1707	423	9	federal	federal	ADJ
cblr-1707	423	10	funds	fund	NOUN
cblr-1707	423	11	target	target	NOUN
cblr-1707	423	12	stood	stand	VERB
cblr-1707	423	13	at	at	ADP
cblr-1707	423	14	a	a	DET
cblr-1707	423	15	cyclical	cyclical	ADJ
cblr-1707	423	16	peak	peak	NOUN
cblr-1707	423	17	of	of	ADP
cblr-1707	423	18	5.25%.59	5.25%.59	NUM
cblr-1707	423	19	the	the	DET
cblr-1707	423	20	banking	banking	NOUN
cblr-1707	423	21	system	system	NOUN
cblr-1707	423	22	’s	’s	PART
cblr-1707	423	23	overdrafts	overdraft	NOUN
cblr-1707	423	24	.	.	PUNCT
cblr-1707	424	1	demand	demand	NOUN
cblr-1707	424	2	for	for	ADP
cblr-1707	424	3	reserves	reserve	NOUN
cblr-1707	424	4	therefore	therefore	ADV
cblr-1707	424	5	exists	exist	VERB
cblr-1707	424	6	even	even	ADV
cblr-1707	424	7	without	without	ADP
cblr-1707	424	8	reserve	reserve	NOUN
cblr-1707	424	9	requirements	requirement	NOUN
cblr-1707	424	10	.	.	PUNCT
cblr-1707	425	1	59	59	NUM
cblr-1707	425	2	the	the	DET
cblr-1707	425	3	historical	historical	ADJ
cblr-1707	425	4	federal	federal	ADJ
cblr-1707	425	5	funds	fund	NOUN
cblr-1707	425	6	target	target	NOUN
cblr-1707	425	7	rate	rate	NOUN
cblr-1707	425	8	can	can	AUX
cblr-1707	425	9	be	be	AUX
cblr-1707	425	10	found	find	VERB
cblr-1707	425	11	at	at	ADP
cblr-1707	425	12	the	the	DET
cblr-1707	425	13	federal	federal	PROPN
cblr-1707	425	14	reserve	reserve	PROPN
cblr-1707	425	15	economic	economic	PROPN
cblr-1707	425	16	database	database	NOUN
cblr-1707	425	17	.	.	PUNCT
cblr-1707	426	1	see	see	VERB
cblr-1707	426	2	federal	federal	PROPN
cblr-1707	426	3	reserve	reserve	PROPN
cblr-1707	426	4	economic	economic	ADJ
cblr-1707	426	5	data	datum	NOUN
cblr-1707	426	6	(	(	PUNCT
cblr-1707	426	7	“	"	PUNCT
cblr-1707	426	8	fred	fred	PROPN
cblr-1707	426	9	”	"	PUNCT
cblr-1707	426	10	)	)	PUNCT
cblr-1707	426	11	,	,	PUNCT
cblr-1707	426	12	federal	federal	ADJ
cblr-1707	426	13	funds	fund	NOUN
cblr-1707	426	14	target	target	NOUN
cblr-1707	426	15	rate	rate	NOUN
cblr-1707	426	16	(	(	PUNCT
cblr-1707	426	17	discontinued	discontinue	VERB
cblr-1707	426	18	)	)	PUNCT
cblr-1707	426	19	(	(	PUNCT
cblr-1707	426	20	“	"	PUNCT
cblr-1707	426	21	dfedtar	dfedtar	NOUN
cblr-1707	426	22	”	"	PUNCT
cblr-1707	426	23	)	)	PUNCT
cblr-1707	426	24	,	,	PUNCT
cblr-1707	426	25	fed	fed	PROPN
cblr-1707	426	26	.	.	PUNCT
cblr-1707	427	1	res	res	PROPN
cblr-1707	427	2	.	.	PUNCT
cblr-1707	427	3	bank	bank	PROPN
cblr-1707	427	4	of	of	ADP
cblr-1707	427	5	st	st	PROPN
cblr-1707	427	6	.	.	PROPN
cblr-1707	427	7	louis	louis	PROPN
cblr-1707	427	8	,	,	PUNCT
cblr-1707	427	9	https://fred.stlouisfed.org/series/dfedtar	https://fred.stlouisfed.org/series/dfedtar	NOUN
cblr-1707	427	10	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	427	11	no	no	NOUN
cblr-1707	427	12	.	.	PUNCT
cblr-1707	428	1	3:757	3:757	NUM
cblr-1707	428	2	]	]	X
cblr-1707	428	3	money	money	NOUN
cblr-1707	428	4	as	as	ADP
cblr-1707	428	5	infrastructure	infrastructure	NOUN
cblr-1707	428	6	781	781	NUM
cblr-1707	428	7	required	require	VERB
cblr-1707	428	8	reserves	reserve	NOUN
cblr-1707	428	9	were	be	AUX
cblr-1707	428	10	$	$	SYM
cblr-1707	428	11	40	40	NUM
cblr-1707	428	12	billion	billion	NUM
cblr-1707	428	13	and	and	CCONJ
cblr-1707	428	14	excess	excess	ADJ
cblr-1707	428	15	reserves	reserve	NOUN
cblr-1707	428	16	were	be	AUX
cblr-1707	428	17	only	only	ADV
cblr-1707	428	18	$	$	SYM
cblr-1707	428	19	1.4	1.4	NUM
cblr-1707	428	20	billion.60	billion.60	NOUN
cblr-1707	428	21	the	the	DET
cblr-1707	428	22	federal	federal	PROPN
cblr-1707	428	23	reserve	reserve	PROPN
cblr-1707	428	24	’s	’s	PART
cblr-1707	428	25	total	total	ADJ
cblr-1707	428	26	assets	asset	NOUN
cblr-1707	428	27	at	at	ADP
cblr-1707	428	28	the	the	DET
cblr-1707	428	29	time	time	NOUN
cblr-1707	428	30	were	be	AUX
cblr-1707	428	31	$	$	SYM
cblr-1707	428	32	890	890	NUM
cblr-1707	428	33	billion.61	billion.61	NOUN
cblr-1707	428	34	the	the	DET
cblr-1707	428	35	economy	economy	NOUN
cblr-1707	428	36	was	be	AUX
cblr-1707	428	37	starting	start	VERB
cblr-1707	428	38	to	to	PART
cblr-1707	428	39	show	show	VERB
cblr-1707	428	40	signs	sign	NOUN
cblr-1707	428	41	of	of	ADP
cblr-1707	428	42	weakness	weakness	NOUN
cblr-1707	428	43	in	in	ADP
cblr-1707	428	44	the	the	DET
cblr-1707	428	45	face	face	NOUN
cblr-1707	428	46	of	of	ADP
cblr-1707	428	47	housing	housing	NOUN
cblr-1707	428	48	market	market	NOUN
cblr-1707	428	49	problems	problem	NOUN
cblr-1707	428	50	and	and	CCONJ
cblr-1707	428	51	related	relate	VERB
cblr-1707	428	52	financial	financial	ADJ
cblr-1707	428	53	sector	sector	NOUN
cblr-1707	428	54	issues	issue	NOUN
cblr-1707	428	55	.	.	PUNCT
cblr-1707	429	1	in	in	ADP
cblr-1707	429	2	response	response	NOUN
cblr-1707	429	3	,	,	PUNCT
cblr-1707	429	4	over	over	ADP
cblr-1707	429	5	the	the	DET
cblr-1707	429	6	ensuing	ensue	VERB
cblr-1707	429	7	eight	eight	NUM
cblr-1707	429	8	months	month	NOUN
cblr-1707	429	9	the	the	DET
cblr-1707	429	10	federal	federal	PROPN
cblr-1707	429	11	reserve	reserve	PROPN
cblr-1707	429	12	reduced	reduce	VERB
cblr-1707	429	13	the	the	DET
cblr-1707	429	14	federal	federal	ADJ
cblr-1707	429	15	funds	fund	NOUN
cblr-1707	429	16	target	target	VERB
cblr-1707	429	17	from	from	ADP
cblr-1707	429	18	5.25	5.25	NUM
cblr-1707	429	19	%	%	NOUN
cblr-1707	429	20	to	to	ADP
cblr-1707	429	21	2.00%—a	2.00%—a	PROPN
cblr-1707	429	22	very	very	ADV
cblr-1707	429	23	substantial	substantial	ADJ
cblr-1707	429	24	reduction	reduction	NOUN
cblr-1707	429	25	over	over	ADP
cblr-1707	429	26	a	a	DET
cblr-1707	429	27	short	short	ADJ
cblr-1707	429	28	period	period	NOUN
cblr-1707	429	29	.	.	PUNCT
cblr-1707	430	1	because	because	SCONJ
cblr-1707	430	2	reserves	reserve	NOUN
cblr-1707	430	3	were	be	AUX
cblr-1707	430	4	scarce	scarce	ADJ
cblr-1707	430	5	,	,	PUNCT
cblr-1707	430	6	the	the	DET
cblr-1707	430	7	fed	fed	PROPN
cblr-1707	430	8	was	be	AUX
cblr-1707	430	9	able	able	ADJ
cblr-1707	430	10	to	to	PART
cblr-1707	430	11	accomplish	accomplish	VERB
cblr-1707	430	12	this	this	DET
cblr-1707	430	13	monetary	monetary	ADJ
cblr-1707	430	14	easing	easing	NOUN
cblr-1707	430	15	via	via	ADP
cblr-1707	430	16	small	small	ADJ
cblr-1707	430	17	open	open	ADJ
cblr-1707	430	18	market	market	NOUN
cblr-1707	430	19	operations	operation	NOUN
cblr-1707	430	20	with	with	ADP
cblr-1707	430	21	only	only	ADJ
cblr-1707	430	22	trivial	trivial	ADJ
cblr-1707	430	23	changes	change	NOUN
cblr-1707	430	24	to	to	ADP
cblr-1707	430	25	its	its	PRON
cblr-1707	430	26	balance	balance	NOUN
cblr-1707	430	27	sheet	sheet	NOUN
cblr-1707	430	28	.	.	PUNCT
cblr-1707	431	1	thus	thus	ADV
cblr-1707	431	2	,	,	PUNCT
cblr-1707	431	3	in	in	ADP
cblr-1707	431	4	early	early	ADJ
cblr-1707	431	5	may	may	PROPN
cblr-1707	431	6	of	of	ADP
cblr-1707	431	7	2008	2008	NUM
cblr-1707	431	8	,	,	PUNCT
cblr-1707	431	9	with	with	ADP
cblr-1707	431	10	the	the	DET
cblr-1707	431	11	federal	federal	ADJ
cblr-1707	431	12	funds	fund	NOUN
cblr-1707	431	13	rate	rate	NOUN
cblr-1707	431	14	at	at	ADP
cblr-1707	431	15	2.00	2.00	NUM
cblr-1707	431	16	%	%	NOUN
cblr-1707	431	17	,	,	PUNCT
cblr-1707	431	18	the	the	DET
cblr-1707	431	19	banking	banking	NOUN
cblr-1707	431	20	system	system	NOUN
cblr-1707	431	21	’s	’s	PART
cblr-1707	431	22	required	require	VERB
cblr-1707	431	23	reserves	reserve	NOUN
cblr-1707	431	24	were	be	AUX
cblr-1707	431	25	$	$	SYM
cblr-1707	431	26	42	42	NUM
cblr-1707	431	27	billion	billion	NUM
cblr-1707	431	28	and	and	CCONJ
cblr-1707	431	29	excess	excess	ADJ
cblr-1707	431	30	reserves	reserve	NOUN
cblr-1707	431	31	were	be	AUX
cblr-1707	431	32	$	$	SYM
cblr-1707	431	33	2.0	2.0	NUM
cblr-1707	431	34	billion.62	billion.62	NOUN
cblr-1707	431	35	the	the	DET
cblr-1707	431	36	federal	federal	PROPN
cblr-1707	431	37	reserve	reserve	PROPN
cblr-1707	431	38	’s	’s	PART
cblr-1707	431	39	total	total	ADJ
cblr-1707	431	40	assets	asset	NOUN
cblr-1707	431	41	were	be	AUX
cblr-1707	431	42	still	still	ADV
cblr-1707	431	43	$	$	SYM
cblr-1707	431	44	890	890	NUM
cblr-1707	431	45	billion.63	billion.63	NOUN
cblr-1707	431	46	despite	despite	SCONJ
cblr-1707	431	47	the	the	DET
cblr-1707	431	48	very	very	ADV
cblr-1707	431	49	large	large	ADJ
cblr-1707	431	50	reduction	reduction	NOUN
cblr-1707	431	51	in	in	ADP
cblr-1707	431	52	the	the	DET
cblr-1707	431	53	federal	federal	ADJ
cblr-1707	431	54	funds	fund	NOUN
cblr-1707	431	55	rate	rate	NOUN
cblr-1707	431	56	,	,	PUNCT
cblr-1707	431	57	the	the	DET
cblr-1707	431	58	fed	fed	PROPN
cblr-1707	431	59	’s	’s	PART
cblr-1707	431	60	balance	balance	NOUN
cblr-1707	431	61	sheet	sheet	NOUN
cblr-1707	431	62	had	have	AUX
cblr-1707	431	63	barely	barely	ADV
cblr-1707	431	64	changed	change	VERB
cblr-1707	431	65	.	.	PUNCT
cblr-1707	432	1	the	the	DET
cblr-1707	432	2	federal	federal	PROPN
cblr-1707	432	3	reserve	reserve	PROPN
cblr-1707	432	4	abandoned	abandon	VERB
cblr-1707	432	5	the	the	DET
cblr-1707	432	6	scarce	scarce	ADJ
cblr-1707	432	7	-	-	PUNCT
cblr-1707	432	8	reserves	reserve	NOUN
cblr-1707	432	9	approach	approach	NOUN
cblr-1707	432	10	to	to	ADP
cblr-1707	432	11	managing	manage	VERB
cblr-1707	432	12	short	short	ADJ
cblr-1707	432	13	-	-	PUNCT
cblr-1707	432	14	term	term	NOUN
cblr-1707	432	15	interest	interest	NOUN
cblr-1707	432	16	rates	rate	NOUN
cblr-1707	432	17	in	in	ADP
cblr-1707	432	18	late	late	ADJ
cblr-1707	432	19	2008	2008	NUM
cblr-1707	432	20	.	.	PUNCT
cblr-1707	433	1	it	it	PRON
cblr-1707	433	2	did	do	VERB
cblr-1707	433	3	so	so	ADV
cblr-1707	433	4	because	because	SCONJ
cblr-1707	433	5	reserves	reserve	NOUN
cblr-1707	433	6	had	have	AUX
cblr-1707	433	7	suddenly	suddenly	ADV
cblr-1707	433	8	become	become	VERB
cblr-1707	433	9	(	(	PUNCT
cblr-1707	433	10	and	and	CCONJ
cblr-1707	433	11	remain	remain	VERB
cblr-1707	433	12	today	today	NOUN
cblr-1707	433	13	)	)	PUNCT
cblr-1707	433	14	anything	anything	PRON
cblr-1707	433	15	but	but	CCONJ
cblr-1707	433	16	scarce	scarce	ADJ
cblr-1707	433	17	.	.	PUNCT
cblr-1707	434	1	in	in	ADP
cblr-1707	434	2	response	response	NOUN
cblr-1707	434	3	to	to	ADP
cblr-1707	434	4	the	the	DET
cblr-1707	434	5	onset	onset	NOUN
cblr-1707	434	6	of	of	ADP
cblr-1707	434	7	the	the	DET
cblr-1707	434	8	acute	acute	ADJ
cblr-1707	434	9	phase	phase	NOUN
cblr-1707	434	10	of	of	ADP
cblr-1707	434	11	the	the	DET
cblr-1707	434	12	crisis	crisis	NOUN
cblr-1707	434	13	in	in	ADP
cblr-1707	434	14	september	september	PROPN
cblr-1707	434	15	2008	2008	NUM
cblr-1707	434	16	,	,	PUNCT
cblr-1707	434	17	the	the	DET
cblr-1707	434	18	federal	federal	PROPN
cblr-1707	434	19	reserve	reserve	PROPN
cblr-1707	434	20	extended	extend	VERB
cblr-1707	434	21	massive	massive	ADJ
cblr-1707	434	22	loans	loan	NOUN
cblr-1707	434	23	to	to	ADP
cblr-1707	434	24	financial	financial	ADJ
cblr-1707	434	25	institutions	institution	NOUN
cblr-1707	434	26	to	to	PART
cblr-1707	434	27	enable	enable	VERB
cblr-1707	434	28	them	they	PRON
cblr-1707	434	29	to	to	PART
cblr-1707	434	30	meet	meet	VERB
cblr-1707	434	31	their	their	PRON
cblr-1707	434	32	liquidity	liquidity	NOUN
cblr-1707	434	33	needs	need	NOUN
cblr-1707	434	34	.	.	PUNCT
cblr-1707	435	1	a	a	DET
cblr-1707	435	2	central	central	ADJ
cblr-1707	435	3	bank	bank	NOUN
cblr-1707	435	4	loan	loan	NOUN
cblr-1707	435	5	,	,	PUNCT
cblr-1707	435	6	like	like	ADP
cblr-1707	435	7	a	a	DET
cblr-1707	435	8	central	central	ADJ
cblr-1707	435	9	bank	bank	NOUN
cblr-1707	435	10	purchase	purchase	NOUN
cblr-1707	435	11	of	of	ADP
cblr-1707	435	12	securities	security	NOUN
cblr-1707	435	13	,	,	PUNCT
cblr-1707	435	14	expands	expand	VERB
cblr-1707	435	15	its	its	PRON
cblr-1707	435	16	balance	balance	NOUN
cblr-1707	435	17	sheet	sheet	NOUN
cblr-1707	435	18	:	:	PUNCT
cblr-1707	435	19	the	the	DET
cblr-1707	435	20	central	central	ADJ
cblr-1707	435	21	bank	bank	NOUN
cblr-1707	435	22	books	book	VERB
cblr-1707	435	23	a	a	DET
cblr-1707	435	24	loan	loan	NOUN
cblr-1707	435	25	receivable	receivable	NOUN
cblr-1707	435	26	(	(	PUNCT
cblr-1707	435	27	asset	asset	NOUN
cblr-1707	435	28	)	)	PUNCT
cblr-1707	435	29	and	and	CCONJ
cblr-1707	435	30	simultaneously	simultaneously	ADV
cblr-1707	435	31	credits	credit	VERB
cblr-1707	435	32	a	a	DET
cblr-1707	435	33	reserve	reserve	NOUN
cblr-1707	435	34	balance	balance	NOUN
cblr-1707	435	35	(	(	PUNCT
cblr-1707	435	36	liability	liability	NOUN
cblr-1707	435	37	)	)	PUNCT
cblr-1707	435	38	.	.	PUNCT
cblr-1707	436	1	the	the	DET
cblr-1707	436	2	[	[	X
cblr-1707	436	3	https://perma.cc/7	https://perma.cc/7	PROPN
cblr-1707	436	4	vr5	vr5	PROPN
cblr-1707	436	5	-	-	PUNCT
cblr-1707	436	6	k6j3	k6j3	PROPN
cblr-1707	436	7	]	]	X
cblr-1707	436	8	(	(	PUNCT
cblr-1707	436	9	last	last	ADJ
cblr-1707	436	10	updated	update	VERB
cblr-1707	436	11	may	may	AUX
cblr-1707	436	12	4	4	NUM
cblr-1707	436	13	,	,	PUNCT
cblr-1707	436	14	2015	2015	NUM
cblr-1707	436	15	)	)	PUNCT
cblr-1707	436	16	.	.	PUNCT
cblr-1707	437	1	60	60	NUM
cblr-1707	437	2	fed	fed	PROPN
cblr-1707	437	3	.	.	PUNCT
cblr-1707	438	1	reserve	reserve	PROPN
cblr-1707	438	2	,	,	PUNCT
cblr-1707	438	3	statistical	statistical	ADJ
cblr-1707	438	4	release	release	NOUN
cblr-1707	438	5	:	:	PUNCT
cblr-1707	438	6	aggregate	aggregate	ADJ
cblr-1707	438	7	reserves	reserve	NOUN
cblr-1707	438	8	of	of	ADP
cblr-1707	438	9	depository	depository	NOUN
cblr-1707	438	10	institutions	institution	NOUN
cblr-1707	438	11	and	and	CCONJ
cblr-1707	438	12	the	the	DET
cblr-1707	438	13	monetary	monetary	ADJ
cblr-1707	438	14	base	base	NOUN
cblr-1707	438	15	h.3	h.3	X
cblr-1707	439	1	tbl.1	tbl.1	PROPN
cblr-1707	439	2	(	(	PUNCT
cblr-1707	439	3	sept	sept	PROPN
cblr-1707	439	4	.	.	PROPN
cblr-1707	439	5	13	13	NUM
cblr-1707	439	6	,	,	PUNCT
cblr-1707	439	7	2007	2007	NUM
cblr-1707	439	8	)	)	PUNCT
cblr-1707	439	9	.	.	PUNCT
cblr-1707	440	1	61	61	NUM
cblr-1707	440	2	fed	fed	PROPN
cblr-1707	440	3	.	.	PUNCT
cblr-1707	440	4	reserve	reserve	PROPN
cblr-1707	440	5	,	,	PUNCT
cblr-1707	440	6	statistical	statistical	ADJ
cblr-1707	440	7	release	release	NOUN
cblr-1707	440	8	:	:	PUNCT
cblr-1707	440	9	factors	factor	NOUN
cblr-1707	440	10	affecting	affect	VERB
cblr-1707	440	11	reserve	reserve	NOUN
cblr-1707	440	12	balances	balance	NOUN
cblr-1707	440	13	of	of	ADP
cblr-1707	440	14	depository	depository	NOUN
cblr-1707	440	15	institutions	institution	NOUN
cblr-1707	440	16	and	and	CCONJ
cblr-1707	440	17	condition	condition	NOUN
cblr-1707	440	18	statement	statement	NOUN
cblr-1707	440	19	of	of	ADP
cblr-1707	440	20	federal	federal	PROPN
cblr-1707	440	21	reserve	reserve	PROPN
cblr-1707	440	22	banks	bank	NOUN
cblr-1707	440	23	h.4.1	h.4.1	PROPN
cblr-1707	440	24	tbl.2	tbl.2	PROPN
cblr-1707	440	25	(	(	PUNCT
cblr-1707	440	26	sept	sept	PROPN
cblr-1707	440	27	.	.	PROPN
cblr-1707	440	28	13	13	NUM
cblr-1707	440	29	,	,	PUNCT
cblr-1707	440	30	2007	2007	NUM
cblr-1707	440	31	)	)	PUNCT
cblr-1707	440	32	.	.	PUNCT
cblr-1707	441	1	62	62	NUM
cblr-1707	441	2	fed	fed	PROPN
cblr-1707	441	3	.	.	PUNCT
cblr-1707	442	1	reserve	reserve	PROPN
cblr-1707	442	2	,	,	PUNCT
cblr-1707	442	3	statistical	statistical	ADJ
cblr-1707	442	4	release	release	NOUN
cblr-1707	442	5	:	:	PUNCT
cblr-1707	442	6	aggregate	aggregate	ADJ
cblr-1707	442	7	reserves	reserve	NOUN
cblr-1707	442	8	of	of	ADP
cblr-1707	442	9	depository	depository	NOUN
cblr-1707	442	10	institutions	institution	NOUN
cblr-1707	442	11	and	and	CCONJ
cblr-1707	442	12	the	the	DET
cblr-1707	442	13	monetary	monetary	ADJ
cblr-1707	442	14	base	base	NOUN
cblr-1707	442	15	h.3	h.3	X
cblr-1707	443	1	tbl.1	tbl.1	ADV
cblr-1707	443	2	(	(	PUNCT
cblr-1707	443	3	may	may	PROPN
cblr-1707	443	4	8	8	NUM
cblr-1707	443	5	,	,	PUNCT
cblr-1707	443	6	2008	2008	NUM
cblr-1707	443	7	)	)	PUNCT
cblr-1707	443	8	.	.	PUNCT
cblr-1707	444	1	63	63	NUM
cblr-1707	444	2	fed	fed	PROPN
cblr-1707	444	3	.	.	PUNCT
cblr-1707	445	1	reserve	reserve	PROPN
cblr-1707	445	2	,	,	PUNCT
cblr-1707	445	3	statistical	statistical	ADJ
cblr-1707	445	4	release	release	NOUN
cblr-1707	445	5	:	:	PUNCT
cblr-1707	445	6	factors	factor	NOUN
cblr-1707	445	7	affecting	affect	VERB
cblr-1707	445	8	reserve	reserve	NOUN
cblr-1707	445	9	balances	balance	NOUN
cblr-1707	445	10	of	of	ADP
cblr-1707	445	11	depository	depository	NOUN
cblr-1707	445	12	institutions	institution	NOUN
cblr-1707	445	13	and	and	CCONJ
cblr-1707	445	14	condition	condition	NOUN
cblr-1707	445	15	statement	statement	NOUN
cblr-1707	445	16	of	of	ADP
cblr-1707	445	17	federal	federal	PROPN
cblr-1707	445	18	reserve	reserve	PROPN
cblr-1707	445	19	banks	bank	NOUN
cblr-1707	445	20	,	,	PUNCT
cblr-1707	445	21	h.4.1	h.4.1	ADJ
cblr-1707	445	22	tbl.2	tbl.2	PROPN
cblr-1707	445	23	(	(	PUNCT
cblr-1707	445	24	may	may	PROPN
cblr-1707	445	25	8	8	NUM
cblr-1707	445	26	,	,	PUNCT
cblr-1707	445	27	2008	2008	NUM
cblr-1707	445	28	)	)	PUNCT
cblr-1707	445	29	.	.	PUNCT
cblr-1707	446	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	446	2	782	782	NUM
cblr-1707	446	3	columbia	columbia	PROPN
cblr-1707	446	4	business	business	NOUN
cblr-1707	446	5	law	law	PROPN
cblr-1707	446	6	review	review	NOUN
cblr-1707	446	7	[	[	X
cblr-1707	446	8	vol	vol	NOUN
cblr-1707	446	9	.	.	NOUN
cblr-1707	446	10	2018	2018	NUM
cblr-1707	446	11	reserve	reserve	NOUN
cblr-1707	446	12	balance	balance	NOUN
cblr-1707	446	13	,	,	PUNCT
cblr-1707	446	14	created	create	VERB
cblr-1707	446	15	by	by	ADP
cblr-1707	446	16	a	a	DET
cblr-1707	446	17	stroke	stroke	NOUN
cblr-1707	446	18	on	on	ADP
cblr-1707	446	19	a	a	DET
cblr-1707	446	20	computer	computer	NOUN
cblr-1707	446	21	keyboard	keyboard	NOUN
cblr-1707	446	22	,	,	PUNCT
cblr-1707	446	23	is	be	AUX
cblr-1707	446	24	the	the	DET
cblr-1707	446	25	borrowed	borrow	VERB
cblr-1707	446	26	money	money	NOUN
cblr-1707	446	27	.	.	PUNCT
cblr-1707	447	1	as	as	ADP
cblr-1707	447	2	a	a	DET
cblr-1707	447	3	result	result	NOUN
cblr-1707	447	4	of	of	ADP
cblr-1707	447	5	this	this	DET
cblr-1707	447	6	emergency	emergency	NOUN
cblr-1707	447	7	support	support	NOUN
cblr-1707	447	8	to	to	ADP
cblr-1707	447	9	the	the	DET
cblr-1707	447	10	financial	financial	ADJ
cblr-1707	447	11	system	system	NOUN
cblr-1707	447	12	,	,	PUNCT
cblr-1707	447	13	the	the	DET
cblr-1707	447	14	fed	fed	PROPN
cblr-1707	447	15	’s	’s	PART
cblr-1707	447	16	balance	balance	NOUN
cblr-1707	447	17	sheet	sheet	NOUN
cblr-1707	447	18	ballooned	balloon	VERB
cblr-1707	447	19	more	more	ADV
cblr-1707	447	20	than	than	ADP
cblr-1707	447	21	twofold	twofold	NOUN
cblr-1707	447	22	in	in	ADP
cblr-1707	447	23	a	a	DET
cblr-1707	447	24	matter	matter	NOUN
cblr-1707	447	25	of	of	ADP
cblr-1707	447	26	months	month	NOUN
cblr-1707	447	27	,	,	PUNCT
cblr-1707	447	28	from	from	ADP
cblr-1707	447	29	$	$	SYM
cblr-1707	447	30	909	909	NUM
cblr-1707	447	31	billion	billion	NUM
cblr-1707	447	32	in	in	ADP
cblr-1707	447	33	early	early	ADJ
cblr-1707	447	34	september	september	PROPN
cblr-1707	447	35	2008	2008	NUM
cblr-1707	447	36	to	to	ADP
cblr-1707	447	37	over	over	ADP
cblr-1707	447	38	$	$	SYM
cblr-1707	447	39	2	2	NUM
cblr-1707	447	40	trillion	trillion	NUM
cblr-1707	447	41	by	by	ADP
cblr-1707	447	42	year	year	NOUN
cblr-1707	447	43	end.64	end.64	NOUN
cblr-1707	447	44	excess	excess	ADJ
cblr-1707	447	45	reserves	reserve	NOUN
cblr-1707	447	46	in	in	ADP
cblr-1707	447	47	the	the	DET
cblr-1707	447	48	banking	banking	NOUN
cblr-1707	447	49	system	system	NOUN
cblr-1707	447	50	rose	rise	VERB
cblr-1707	447	51	exponentially	exponentially	ADV
cblr-1707	447	52	,	,	PUNCT
cblr-1707	447	53	from	from	ADP
cblr-1707	447	54	about	about	ADP
cblr-1707	447	55	$	$	SYM
cblr-1707	447	56	2	2	NUM
cblr-1707	447	57	billion	billion	NUM
cblr-1707	447	58	to	to	ADP
cblr-1707	447	59	about	about	ADP
cblr-1707	447	60	$	$	SYM
cblr-1707	447	61	800	800	NUM
cblr-1707	447	62	billion.65	billion.65	PROPN
cblr-1707	447	63	figure	figure	NOUN
cblr-1707	447	64	3	3	NUM
cblr-1707	447	65	:	:	PUNCT
cblr-1707	447	66	federal	federal	PROPN
cblr-1707	447	67	reserve	reserve	NOUN
cblr-1707	447	68	assets66	assets66	NOUN
cblr-1707	447	69	as	as	SCONJ
cblr-1707	447	70	one	one	PRON
cblr-1707	447	71	might	might	AUX
cblr-1707	447	72	expect	expect	VERB
cblr-1707	447	73	,	,	PUNCT
cblr-1707	447	74	the	the	DET
cblr-1707	447	75	federal	federal	ADJ
cblr-1707	447	76	funds	fund	NOUN
cblr-1707	447	77	rate	rate	NOUN
cblr-1707	447	78	collapsed.67	collapsed.67	NOUN
cblr-1707	447	79	in	in	ADP
cblr-1707	447	80	fact	fact	NOUN
cblr-1707	447	81	,	,	PUNCT
cblr-1707	447	82	the	the	DET
cblr-1707	447	83	federal	federal	PROPN
cblr-1707	447	84	reserve	reserve	PROPN
cblr-1707	447	85	briefly	briefly	ADV
cblr-1707	447	86	lost	lose	VERB
cblr-1707	447	87	control	control	NOUN
cblr-1707	447	88	of	of	ADP
cblr-1707	447	89	the	the	DET
cblr-1707	447	90	federal	federal	ADJ
cblr-1707	447	91	funds	fund	NOUN
cblr-1707	447	92	rate	rate	NOUN
cblr-1707	447	93	,	,	PUNCT
cblr-1707	447	94	which	which	PRON
cblr-1707	447	95	began	begin	VERB
cblr-1707	447	96	to	to	PART
cblr-1707	447	97	fall	fall	VERB
cblr-1707	447	98	significantly	significantly	ADV
cblr-1707	447	99	below	below	ADP
cblr-1707	447	100	its	its	PRON
cblr-1707	447	101	target	target	NOUN
cblr-1707	447	102	.	.	PUNCT
cblr-1707	448	1	in	in	ADP
cblr-1707	448	2	particular	particular	ADJ
cblr-1707	448	3	,	,	PUNCT
cblr-1707	448	4	on	on	ADP
cblr-1707	448	5	october	october	PROPN
cblr-1707	448	6	8	8	NUM
cblr-1707	448	7	,	,	PUNCT
cblr-1707	448	8	2008	2008	NUM
cblr-1707	448	9	,	,	PUNCT
cblr-1707	448	10	the	the	DET
cblr-1707	448	11	fed	fed	PROPN
cblr-1707	448	12	reduced	reduce	VERB
cblr-1707	448	13	its	its	PRON
cblr-1707	448	14	federal	federal	ADJ
cblr-1707	448	15	funds	fund	NOUN
cblr-1707	448	16	target	target	NOUN
cblr-1707	448	17	rate	rate	NOUN
cblr-1707	448	18	from	from	ADP
cblr-1707	448	19	2.00	2.00	NUM
cblr-1707	448	20	%	%	NOUN
cblr-1707	448	21	to	to	PART
cblr-1707	448	22	1.50	1.50	NUM
cblr-1707	448	23	%	%	NOUN
cblr-1707	448	24	.	.	PUNCT
cblr-1707	449	1	the	the	DET
cblr-1707	449	2	1.50	1.50	NUM
cblr-1707	449	3	%	%	NOUN
cblr-1707	449	4	target	target	NOUN
cblr-1707	449	5	64	64	NUM
cblr-1707	449	6	see	see	NOUN
cblr-1707	449	7	infra	infra	NOUN
cblr-1707	449	8	figure	figure	NOUN
cblr-1707	449	9	3	3	NUM
cblr-1707	449	10	.	.	SYM
cblr-1707	449	11	65	65	NUM
cblr-1707	450	1	fed	fed	PROPN
cblr-1707	450	2	.	.	PUNCT
cblr-1707	451	1	reserve	reserve	PROPN
cblr-1707	451	2	,	,	PUNCT
cblr-1707	451	3	statistical	statistical	ADJ
cblr-1707	451	4	release	release	NOUN
cblr-1707	451	5	:	:	PUNCT
cblr-1707	451	6	aggregate	aggregate	ADJ
cblr-1707	451	7	reserves	reserve	NOUN
cblr-1707	451	8	of	of	ADP
cblr-1707	451	9	depository	depository	NOUN
cblr-1707	451	10	institutions	institution	NOUN
cblr-1707	451	11	and	and	CCONJ
cblr-1707	451	12	the	the	DET
cblr-1707	451	13	monetary	monetary	ADJ
cblr-1707	451	14	base	base	NOUN
cblr-1707	451	15	h.3	h.3	X
cblr-1707	452	1	tbl.1	tbl.1	PROPN
cblr-1707	452	2	(	(	PUNCT
cblr-1707	452	3	jan	jan	PROPN
cblr-1707	452	4	.	.	PROPN
cblr-1707	452	5	2	2	NUM
cblr-1707	452	6	,	,	PUNCT
cblr-1707	452	7	2009	2009	NUM
cblr-1707	452	8	)	)	PUNCT
cblr-1707	452	9	.	.	PUNCT
cblr-1707	453	1	66	66	NUM
cblr-1707	453	2	federal	federal	PROPN
cblr-1707	453	3	reserve	reserve	PROPN
cblr-1707	453	4	economic	economic	ADJ
cblr-1707	453	5	data	datum	NOUN
cblr-1707	453	6	(	(	PUNCT
cblr-1707	453	7	“	"	PUNCT
cblr-1707	453	8	fred	fred	PROPN
cblr-1707	453	9	”	"	PUNCT
cblr-1707	453	10	)	)	PUNCT
cblr-1707	453	11	,	,	PUNCT
cblr-1707	453	12	fed	fed	PROPN
cblr-1707	453	13	.	.	PUNCT
cblr-1707	454	1	res	res	PROPN
cblr-1707	454	2	.	.	PUNCT
cblr-1707	454	3	bank	bank	PROPN
cblr-1707	454	4	of	of	ADP
cblr-1707	454	5	st	st	PROPN
cblr-1707	454	6	.	.	PROPN
cblr-1707	454	7	louis	louis	PROPN
cblr-1707	454	8	,	,	PUNCT
cblr-1707	454	9	https://fred.stlouisfed.org/	https://fred.stlouisfed.org/	PROPN
cblr-1707	455	1	[	[	X
cblr-1707	455	2	https://perma.cc/v6v7-ljmj	https://perma.cc/v6v7-ljmj	NOUN
cblr-1707	455	3	]	]	PUNCT
cblr-1707	455	4	.	.	PUNCT
cblr-1707	456	1	“	"	PUNCT
cblr-1707	456	2	securities	security	NOUN
cblr-1707	456	3	”	"	PUNCT
cblr-1707	456	4	consists	consist	VERB
cblr-1707	456	5	of	of	ADP
cblr-1707	456	6	series	series	NOUN
cblr-1707	456	7	wsecout	wsecout	ADV
cblr-1707	456	8	;	;	PUNCT
cblr-1707	456	9	“	"	PUNCT
cblr-1707	456	10	liquidity	liquidity	NOUN
cblr-1707	456	11	facilities	facility	NOUN
cblr-1707	456	12	”	"	PUNCT
cblr-1707	456	13	consists	consist	VERB
cblr-1707	456	14	of	of	ADP
cblr-1707	456	15	the	the	DET
cblr-1707	456	16	sum	sum	NOUN
cblr-1707	456	17	of	of	ADP
cblr-1707	456	18	series	series	NOUN
cblr-1707	456	19	wterauc	wterauc	PROPN
cblr-1707	456	20	,	,	PUNCT
cblr-1707	456	21	wpc	wpc	PROPN
cblr-1707	456	22	,	,	PUNCT
cblr-1707	456	23	wsc	wsc	PROPN
cblr-1707	456	24	,	,	PUNCT
cblr-1707	456	25	wsb	wsb	PROPN
cblr-1707	456	26	,	,	PUNCT
cblr-1707	456	27	wpdf	wpdf	NOUN
cblr-1707	456	28	,	,	PUNCT
cblr-1707	456	29	wtermfac	wtermfac	NOUN
cblr-1707	456	30	,	,	PUNCT
cblr-1707	456	31	wabcmmf	wabcmmf	NOUN
cblr-1707	456	32	,	,	PUNCT
cblr-1707	456	33	wcpff	wcpff	PROPN
cblr-1707	456	34	,	,	PUNCT
cblr-1707	456	35	wliqswp	wliqswp	NOUN
cblr-1707	456	36	,	,	PUNCT
cblr-1707	456	37	wmaiden1	wmaiden1	NOUN
cblr-1707	456	38	,	,	PUNCT
cblr-1707	456	39	wmaiden2	wmaiden2	NOUN
cblr-1707	456	40	,	,	PUNCT
cblr-1707	456	41	wmaiden3	wmaiden3	PROPN
cblr-1707	456	42	,	,	PUNCT
cblr-1707	456	43	walico	walico	PROPN
cblr-1707	456	44	,	,	PUNCT
cblr-1707	456	45	and	and	CCONJ
cblr-1707	456	46	waig	waig	NOUN
cblr-1707	456	47	;	;	PUNCT
cblr-1707	456	48	“	"	PUNCT
cblr-1707	456	49	other	other	ADJ
cblr-1707	456	50	assets	asset	NOUN
cblr-1707	456	51	”	"	PUNCT
cblr-1707	456	52	consists	consist	VERB
cblr-1707	456	53	of	of	ADP
cblr-1707	456	54	series	series	NOUN
cblr-1707	456	55	walcl	walcl	VERB
cblr-1707	456	56	less	less	ADJ
cblr-1707	456	57	the	the	DET
cblr-1707	456	58	sum	sum	NOUN
cblr-1707	456	59	of	of	ADP
cblr-1707	456	60	securities	security	NOUN
cblr-1707	456	61	and	and	CCONJ
cblr-1707	456	62	liquidity	liquidity	NOUN
cblr-1707	456	63	facilities	facility	NOUN
cblr-1707	456	64	.	.	PUNCT
cblr-1707	457	1	67	67	NUM
cblr-1707	457	2	see	see	NOUN
cblr-1707	457	3	infra	infra	NOUN
cblr-1707	457	4	figure	figure	NOUN
cblr-1707	457	5	4	4	NUM
cblr-1707	457	6	.	.	PUNCT
cblr-1707	457	7	$	$	SYM
cblr-1707	457	8	0.0	0.0	NUM
cblr-1707	457	9	$	$	SYM
cblr-1707	457	10	0.5	0.5	NUM
cblr-1707	457	11	$	$	SYM
cblr-1707	457	12	1.0	1.0	NUM
cblr-1707	457	13	$	$	SYM
cblr-1707	457	14	1.5	1.5	NUM
cblr-1707	457	15	$	$	SYM
cblr-1707	457	16	2.0	2.0	NUM
cblr-1707	457	17	$	$	SYM
cblr-1707	457	18	2.5	2.5	NUM
cblr-1707	457	19	$	$	SYM
cblr-1707	457	20	3.0	3.0	NUM
cblr-1707	457	21	$	$	SYM
cblr-1707	457	22	3.5	3.5	NUM
cblr-1707	457	23	$	$	SYM
cblr-1707	457	24	4.0	4.0	NUM
cblr-1707	457	25	$	$	SYM
cblr-1707	457	26	4.5	4.5	NUM
cblr-1707	457	27	$	$	SYM
cblr-1707	457	28	5.0	5.0	NUM
cblr-1707	457	29	2007	2007	NUM
cblr-1707	457	30	2008	2008	NUM
cblr-1707	457	31	2009	2009	NUM
cblr-1707	457	32	2010	2010	NUM
cblr-1707	457	33	2011	2011	NUM
cblr-1707	457	34	2012	2012	NUM
cblr-1707	457	35	2013	2013	NUM
cblr-1707	457	36	2014	2014	NUM
cblr-1707	457	37	2015	2015	NUM
cblr-1707	457	38	2016	2016	NUM
cblr-1707	457	39	2017	2017	NUM
cblr-1707	457	40	tr	tr	NOUN
cblr-1707	457	41	ill	ill	ADV
cblr-1707	457	42	io	io	X
cblr-1707	457	43	ns	ns	NUM
cblr-1707	457	44	other	other	ADJ
cblr-1707	457	45	assets	asset	NOUN
cblr-1707	457	46	liquidity	liquidity	NOUN
cblr-1707	457	47	facilities	facility	NOUN
cblr-1707	457	48	securities	security	NOUN
cblr-1707	457	49	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	457	50	no	no	NOUN
cblr-1707	457	51	.	.	PUNCT
cblr-1707	458	1	3:757	3:757	NUM
cblr-1707	458	2	]	]	X
cblr-1707	458	3	money	money	NOUN
cblr-1707	458	4	as	as	SCONJ
cblr-1707	458	5	infrastructure	infrastructure	NOUN
cblr-1707	458	6	783	783	NUM
cblr-1707	458	7	remained	remain	VERB
cblr-1707	458	8	in	in	ADP
cblr-1707	458	9	effect	effect	NOUN
cblr-1707	458	10	for	for	ADP
cblr-1707	458	11	fifteen	fifteen	NUM
cblr-1707	458	12	business	business	NOUN
cblr-1707	458	13	days	day	NOUN
cblr-1707	458	14	.	.	PUNCT
cblr-1707	459	1	the	the	DET
cblr-1707	459	2	average	average	ADJ
cblr-1707	459	3	effective	effective	ADJ
cblr-1707	459	4	federal	federal	ADJ
cblr-1707	459	5	funds	fund	NOUN
cblr-1707	459	6	rate	rate	NOUN
cblr-1707	459	7	during	during	ADP
cblr-1707	459	8	those	those	DET
cblr-1707	459	9	fifteen	fifteen	NUM
cblr-1707	459	10	days	day	NOUN
cblr-1707	459	11	was	be	AUX
cblr-1707	459	12	only	only	ADV
cblr-1707	459	13	0.96	0.96	NUM
cblr-1707	459	14	%	%	NOUN
cblr-1707	459	15	,	,	PUNCT
cblr-1707	459	16	however	however	ADV
cblr-1707	459	17	,	,	PUNCT
cblr-1707	459	18	well	well	INTJ
cblr-1707	459	19	short	short	ADJ
cblr-1707	459	20	of	of	ADP
cblr-1707	459	21	the	the	DET
cblr-1707	459	22	target	target	NOUN
cblr-1707	459	23	.	.	PUNCT
cblr-1707	460	1	on	on	ADP
cblr-1707	460	2	october	october	PROPN
cblr-1707	460	3	29	29	NUM
cblr-1707	460	4	,	,	PUNCT
cblr-1707	460	5	the	the	DET
cblr-1707	460	6	fed	fed	PROPN
cblr-1707	460	7	again	again	ADV
cblr-1707	460	8	lowered	lower	VERB
cblr-1707	460	9	its	its	PRON
cblr-1707	460	10	federal	federal	ADJ
cblr-1707	460	11	funds	fund	NOUN
cblr-1707	460	12	target	target	NOUN
cblr-1707	460	13	,	,	PUNCT
cblr-1707	460	14	this	this	DET
cblr-1707	460	15	time	time	NOUN
cblr-1707	460	16	to	to	ADP
cblr-1707	460	17	1.00	1.00	NUM
cblr-1707	460	18	%	%	NOUN
cblr-1707	460	19	.	.	PUNCT
cblr-1707	461	1	the	the	DET
cblr-1707	461	2	new	new	ADJ
cblr-1707	461	3	target	target	NOUN
cblr-1707	461	4	remained	remain	VERB
cblr-1707	461	5	in	in	ADP
cblr-1707	461	6	effect	effect	NOUN
cblr-1707	461	7	for	for	ADP
cblr-1707	461	8	the	the	DET
cblr-1707	461	9	next	next	ADJ
cblr-1707	461	10	34	34	NUM
cblr-1707	461	11	business	business	NOUN
cblr-1707	461	12	days	day	NOUN
cblr-1707	461	13	.	.	PUNCT
cblr-1707	462	1	yet	yet	CCONJ
cblr-1707	462	2	the	the	DET
cblr-1707	462	3	average	average	ADJ
cblr-1707	462	4	effective	effective	ADJ
cblr-1707	462	5	federal	federal	ADJ
cblr-1707	462	6	funds	fund	NOUN
cblr-1707	462	7	rate	rate	NOUN
cblr-1707	462	8	during	during	ADP
cblr-1707	462	9	this	this	DET
cblr-1707	462	10	period	period	NOUN
cblr-1707	462	11	was	be	AUX
cblr-1707	462	12	only	only	ADV
cblr-1707	462	13	0.33%—again	0.33%—again	NUM
cblr-1707	462	14	,	,	PUNCT
cblr-1707	462	15	far	far	ADV
cblr-1707	462	16	short	short	ADJ
cblr-1707	462	17	of	of	ADP
cblr-1707	462	18	the	the	DET
cblr-1707	462	19	target	target	NOUN
cblr-1707	462	20	.	.	PUNCT
cblr-1707	463	1	finally	finally	ADV
cblr-1707	463	2	,	,	PUNCT
cblr-1707	463	3	on	on	ADP
cblr-1707	463	4	december	december	PROPN
cblr-1707	463	5	16	16	NUM
cblr-1707	463	6	,	,	PUNCT
cblr-1707	463	7	the	the	DET
cblr-1707	463	8	federal	federal	PROPN
cblr-1707	463	9	reserve	reserve	PROPN
cblr-1707	463	10	dropped	drop	VERB
cblr-1707	463	11	its	its	PRON
cblr-1707	463	12	federal	federal	ADJ
cblr-1707	463	13	funds	fund	NOUN
cblr-1707	463	14	target	target	NOUN
cblr-1707	463	15	rate	rate	NOUN
cblr-1707	463	16	to	to	ADP
cblr-1707	463	17	a	a	DET
cblr-1707	463	18	range	range	NOUN
cblr-1707	463	19	of	of	ADP
cblr-1707	463	20	0.00	0.00	NUM
cblr-1707	463	21	%	%	NOUN
cblr-1707	463	22	to	to	PART
cblr-1707	463	23	0.25	0.25	NUM
cblr-1707	463	24	%	%	NOUN
cblr-1707	463	25	.	.	PUNCT
cblr-1707	464	1	it	it	PRON
cblr-1707	464	2	had	have	AUX
cblr-1707	464	3	reached	reach	VERB
cblr-1707	464	4	the	the	DET
cblr-1707	464	5	so	so	ADV
cblr-1707	464	6	-	-	PUNCT
cblr-1707	464	7	called	call	VERB
cblr-1707	464	8	zero	zero	NUM
cblr-1707	464	9	lower	lower	ADV
cblr-1707	464	10	bound	bind	VERB
cblr-1707	464	11	;	;	PUNCT
cblr-1707	464	12	it	it	PRON
cblr-1707	464	13	was	be	AUX
cblr-1707	464	14	now	now	ADV
cblr-1707	464	15	pursuing	pursue	VERB
cblr-1707	464	16	“	"	PUNCT
cblr-1707	464	17	zero	zero	NUM
cblr-1707	464	18	interest	interest	NOUN
cblr-1707	464	19	rate	rate	NOUN
cblr-1707	464	20	policy	policy	NOUN
cblr-1707	464	21	,	,	PUNCT
cblr-1707	464	22	”	"	PUNCT
cblr-1707	464	23	known	know	VERB
cblr-1707	464	24	as	as	ADP
cblr-1707	464	25	zirp	zirp	NOUN
cblr-1707	464	26	.	.	PUNCT
cblr-1707	465	1	this	this	DET
cblr-1707	465	2	policy	policy	NOUN
cblr-1707	465	3	would	would	AUX
cblr-1707	465	4	continue	continue	VERB
cblr-1707	465	5	for	for	ADP
cblr-1707	465	6	seven	seven	NUM
cblr-1707	465	7	years	year	NOUN
cblr-1707	465	8	.	.	PUNCT
cblr-1707	466	1	figure	figure	VERB
cblr-1707	466	2	4	4	NUM
cblr-1707	466	3	:	:	PUNCT
cblr-1707	466	4	the	the	DET
cblr-1707	466	5	federal	federal	ADJ
cblr-1707	466	6	funds	fund	NOUN
cblr-1707	466	7	rate68	rate68	VERB
cblr-1707	466	8	68	68	NUM
cblr-1707	466	9	federal	federal	ADJ
cblr-1707	466	10	reserve	reserve	NOUN
cblr-1707	466	11	economic	economic	ADJ
cblr-1707	466	12	data	datum	NOUN
cblr-1707	466	13	(	(	PUNCT
cblr-1707	466	14	“	"	PUNCT
cblr-1707	466	15	fred	fred	PROPN
cblr-1707	466	16	”	"	PUNCT
cblr-1707	466	17	)	)	PUNCT
cblr-1707	466	18	,	,	PUNCT
cblr-1707	466	19	effective	effective	ADJ
cblr-1707	466	20	federal	federal	ADJ
cblr-1707	466	21	funds	fund	NOUN
cblr-1707	466	22	rate	rate	NOUN
cblr-1707	466	23	(	(	PUNCT
cblr-1707	466	24	“	"	PUNCT
cblr-1707	466	25	dff	dff	NOUN
cblr-1707	466	26	”	"	PUNCT
cblr-1707	466	27	)	)	PUNCT
cblr-1707	466	28	(	(	PUNCT
cblr-1707	466	29	2008	2008	NUM
cblr-1707	466	30	)	)	PUNCT
cblr-1707	466	31	,	,	PUNCT
cblr-1707	466	32	fed	fed	PROPN
cblr-1707	466	33	.	.	PUNCT
cblr-1707	467	1	res	res	PROPN
cblr-1707	467	2	.	.	PUNCT
cblr-1707	467	3	bank	bank	PROPN
cblr-1707	467	4	of	of	ADP
cblr-1707	467	5	st	st	PROPN
cblr-1707	467	6	.	.	PROPN
cblr-1707	467	7	louis	louis	PROPN
cblr-1707	467	8	,	,	PUNCT
cblr-1707	467	9	https://fred.stlouisfed	https://fred.stlouisfed	PROPN
cblr-1707	467	10	.	.	PUNCT
cblr-1707	467	11	org	org	PROPN
cblr-1707	467	12	/	/	SYM
cblr-1707	467	13	series	series	NOUN
cblr-1707	467	14	/	/	SYM
cblr-1707	467	15	dff	dff	PROPN
cblr-1707	467	16	[	[	X
cblr-1707	467	17	https://perma.cc/pkt3-z9j4	https://perma.cc/pkt3-z9j4	X
cblr-1707	467	18	]	]	X
cblr-1707	467	19	;	;	PUNCT
cblr-1707	467	20	federal	federal	PROPN
cblr-1707	467	21	reserve	reserve	PROPN
cblr-1707	467	22	economic	economic	ADJ
cblr-1707	467	23	data	datum	NOUN
cblr-1707	467	24	(	(	PUNCT
cblr-1707	467	25	“	"	PUNCT
cblr-1707	467	26	fred	fred	PROPN
cblr-1707	467	27	”	"	PUNCT
cblr-1707	467	28	)	)	PUNCT
cblr-1707	467	29	,	,	PUNCT
cblr-1707	467	30	federal	federal	ADJ
cblr-1707	467	31	funds	fund	NOUN
cblr-1707	467	32	target	target	NOUN
cblr-1707	467	33	range	range	NOUN
cblr-1707	467	34	–	–	PUNCT
cblr-1707	467	35	lower	low	ADJ
cblr-1707	467	36	limit	limit	NOUN
cblr-1707	467	37	(	(	PUNCT
cblr-1707	467	38	“	"	PUNCT
cblr-1707	467	39	dfedtarl	dfedtarl	PROPN
cblr-1707	467	40	”	"	PUNCT
cblr-1707	467	41	)	)	PUNCT
cblr-1707	467	42	(	(	PUNCT
cblr-1707	467	43	2008	2008	NUM
cblr-1707	467	44	)	)	PUNCT
cblr-1707	467	45	,	,	PUNCT
cblr-1707	467	46	fed	fed	PROPN
cblr-1707	467	47	.	.	PUNCT
cblr-1707	468	1	res	res	PROPN
cblr-1707	468	2	.	.	PUNCT
cblr-1707	468	3	bank	bank	PROPN
cblr-1707	468	4	of	of	ADP
cblr-1707	468	5	st	st	PROPN
cblr-1707	468	6	.	.	PROPN
cblr-1707	468	7	louis	louis	PROPN
cblr-1707	468	8	,	,	PUNCT
cblr-1707	468	9	https://fred.stlouisfed.org/series/dfedtarl	https://fred.stlouisfed.org/series/dfedtarl	PROPN
cblr-1707	468	10	[	[	X
cblr-1707	468	11	https://perma.cc/sn8ukuzj	https://perma.cc/sn8ukuzj	PROPN
cblr-1707	468	12	]	]	X
cblr-1707	468	13	;	;	PUNCT
cblr-1707	468	14	federal	federal	PROPN
cblr-1707	468	15	reserve	reserve	PROPN
cblr-1707	468	16	economic	economic	ADJ
cblr-1707	468	17	data	datum	NOUN
cblr-1707	468	18	(	(	PUNCT
cblr-1707	468	19	“	"	PUNCT
cblr-1707	468	20	fred	fred	PROPN
cblr-1707	468	21	”	"	PUNCT
cblr-1707	468	22	)	)	PUNCT
cblr-1707	468	23	,	,	PUNCT
cblr-1707	468	24	federal	federal	ADJ
cblr-1707	468	25	funds	fund	NOUN
cblr-1707	468	26	target	target	NOUN
cblr-1707	468	27	range	range	NOUN
cblr-1707	468	28	–	–	PUNCT
cblr-1707	468	29	upper	upper	ADJ
cblr-1707	468	30	limit	limit	NOUN
cblr-1707	468	31	(	(	PUNCT
cblr-1707	468	32	“	"	PUNCT
cblr-1707	468	33	dfedtaru	dfedtaru	NOUN
cblr-1707	468	34	”	"	PUNCT
cblr-1707	468	35	)	)	PUNCT
cblr-1707	468	36	(	(	PUNCT
cblr-1707	468	37	2008	2008	NUM
cblr-1707	468	38	)	)	PUNCT
cblr-1707	468	39	,	,	PUNCT
cblr-1707	468	40	fed	fed	PROPN
cblr-1707	468	41	.	.	PUNCT
cblr-1707	469	1	res	res	PROPN
cblr-1707	469	2	.	.	PUNCT
cblr-1707	469	3	bank	bank	PROPN
cblr-1707	469	4	of	of	ADP
cblr-1707	469	5	st	st	PROPN
cblr-1707	469	6	.	.	PROPN
cblr-1707	469	7	louis	louis	PROPN
cblr-1707	469	8	,	,	PUNCT
cblr-1707	469	9	https://fred.stlouisfed.org/series/dfedtaru	https://fred.stlouisfed.org/series/dfedtaru	NOUN
cblr-1707	470	1	[	[	X
cblr-1707	470	2	https://perma.cc/	https://perma.cc/	NOUN
cblr-1707	470	3	l7qb	l7qb	NOUN
cblr-1707	470	4	-	-	PUNCT
cblr-1707	470	5	zhl9	zhl9	NOUN
cblr-1707	470	6	]	]	PUNCT
cblr-1707	470	7	;	;	PUNCT
cblr-1707	470	8	federal	federal	PROPN
cblr-1707	470	9	reserve	reserve	PROPN
cblr-1707	470	10	economic	economic	ADJ
cblr-1707	470	11	data	datum	NOUN
cblr-1707	470	12	(	(	PUNCT
cblr-1707	470	13	“	"	PUNCT
cblr-1707	470	14	fred	fred	PROPN
cblr-1707	470	15	”	"	PUNCT
cblr-1707	470	16	)	)	PUNCT
cblr-1707	470	17	,	,	PUNCT
cblr-1707	470	18	federal	federal	ADJ
cblr-1707	470	19	funds	fund	NOUN
cblr-1707	470	20	0	0	NUM
cblr-1707	470	21	%	%	NOUN
cblr-1707	470	22	1	1	NUM
cblr-1707	470	23	%	%	NOUN
cblr-1707	470	24	2	2	NUM
cblr-1707	470	25	%	%	NOUN
cblr-1707	470	26	3	3	NUM
cblr-1707	470	27	%	%	NOUN
cblr-1707	470	28	4	4	NUM
cblr-1707	470	29	%	%	NOUN
cblr-1707	470	30	5	5	NUM
cblr-1707	470	31	%	%	NOUN
cblr-1707	470	32	6	6	NUM
cblr-1707	470	33	%	%	NOUN
cblr-1707	470	34	2006	2006	NUM
cblr-1707	470	35	2007	2007	NUM
cblr-1707	470	36	2008	2008	NUM
cblr-1707	470	37	2009	2009	NUM
cblr-1707	470	38	2010	2010	NUM
cblr-1707	470	39	2011	2011	NUM
cblr-1707	470	40	2012	2012	NUM
cblr-1707	470	41	2013	2013	NUM
cblr-1707	470	42	2014	2014	NUM
cblr-1707	470	43	2015	2015	NUM
cblr-1707	470	44	2016	2016	NUM
cblr-1707	470	45	2017	2017	NUM
cblr-1707	470	46	effective	effective	ADJ
cblr-1707	470	47	federal	federal	ADJ
cblr-1707	470	48	funds	fund	NOUN
cblr-1707	470	49	rate	rate	VERB
cblr-1707	470	50	federal	federal	ADJ
cblr-1707	470	51	funds	fund	NOUN
cblr-1707	470	52	target	target	NOUN
cblr-1707	470	53	rate	rate	NOUN
cblr-1707	470	54	federal	federal	ADJ
cblr-1707	470	55	funds	fund	NOUN
cblr-1707	470	56	target	target	VERB
cblr-1707	470	57	upper	upper	ADJ
cblr-1707	470	58	limit	limit	NOUN
cblr-1707	470	59	federal	federal	ADJ
cblr-1707	470	60	funds	fund	NOUN
cblr-1707	470	61	target	target	VERB
cblr-1707	470	62	lower	low	ADJ
cblr-1707	470	63	limit	limit	NOUN
cblr-1707	471	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	471	2	784	784	NUM
cblr-1707	471	3	columbia	columbia	PROPN
cblr-1707	471	4	business	business	NOUN
cblr-1707	471	5	law	law	NOUN
cblr-1707	471	6	review	review	NOUN
cblr-1707	471	7	[	[	X
cblr-1707	471	8	vol	vol	NOUN
cblr-1707	471	9	.	.	NOUN
cblr-1707	471	10	2018	2018	NUM
cblr-1707	471	11	over	over	ADP
cblr-1707	471	12	the	the	DET
cblr-1707	471	13	course	course	NOUN
cblr-1707	471	14	of	of	ADP
cblr-1707	471	15	2009	2009	NUM
cblr-1707	471	16	,	,	PUNCT
cblr-1707	471	17	the	the	DET
cblr-1707	471	18	stress	stress	NOUN
cblr-1707	471	19	on	on	ADP
cblr-1707	471	20	the	the	DET
cblr-1707	471	21	financial	financial	ADJ
cblr-1707	471	22	system	system	NOUN
cblr-1707	471	23	subsided	subside	VERB
cblr-1707	471	24	,	,	PUNCT
cblr-1707	471	25	and	and	CCONJ
cblr-1707	471	26	the	the	DET
cblr-1707	471	27	federal	federal	PROPN
cblr-1707	471	28	reserve	reserve	PROPN
cblr-1707	471	29	substantially	substantially	ADV
cblr-1707	471	30	retracted	retract	VERB
cblr-1707	471	31	the	the	DET
cblr-1707	471	32	liquidity	liquidity	NOUN
cblr-1707	471	33	facilities	facility	NOUN
cblr-1707	471	34	it	it	PRON
cblr-1707	471	35	had	have	AUX
cblr-1707	471	36	created	create	VERB
cblr-1707	471	37	to	to	PART
cblr-1707	471	38	combat	combat	VERB
cblr-1707	471	39	the	the	DET
cblr-1707	471	40	crisis	crisis	NOUN
cblr-1707	471	41	.	.	PUNCT
cblr-1707	472	1	nevertheless	nevertheless	ADV
cblr-1707	472	2	,	,	PUNCT
cblr-1707	472	3	the	the	DET
cblr-1707	472	4	fed	fed	PROPN
cblr-1707	472	5	did	do	AUX
cblr-1707	472	6	not	not	PART
cblr-1707	472	7	allow	allow	VERB
cblr-1707	472	8	its	its	PRON
cblr-1707	472	9	balance	balance	NOUN
cblr-1707	472	10	sheet	sheet	NOUN
cblr-1707	472	11	to	to	PART
cblr-1707	472	12	shrink	shrink	VERB
cblr-1707	472	13	back	back	ADV
cblr-1707	472	14	to	to	ADP
cblr-1707	472	15	a	a	DET
cblr-1707	472	16	more	more	ADV
cblr-1707	472	17	“	"	PUNCT
cblr-1707	472	18	normal	normal	ADJ
cblr-1707	472	19	”	"	PUNCT
cblr-1707	472	20	size	size	NOUN
cblr-1707	472	21	.	.	PUNCT
cblr-1707	473	1	as	as	SCONJ
cblr-1707	473	2	shown	show	VERB
cblr-1707	473	3	in	in	ADP
cblr-1707	473	4	figure	figure	NOUN
cblr-1707	473	5	3	3	NUM
cblr-1707	473	6	,	,	PUNCT
cblr-1707	473	7	reductions	reduction	NOUN
cblr-1707	473	8	in	in	ADP
cblr-1707	473	9	the	the	DET
cblr-1707	473	10	fed	fed	PROPN
cblr-1707	473	11	’s	’s	PART
cblr-1707	473	12	liquidity	liquidity	NOUN
cblr-1707	473	13	facilities	facility	NOUN
cblr-1707	473	14	were	be	AUX
cblr-1707	473	15	offset	offset	VERB
cblr-1707	473	16	by	by	ADP
cblr-1707	473	17	vast	vast	ADJ
cblr-1707	473	18	purchases	purchase	NOUN
cblr-1707	473	19	of	of	ADP
cblr-1707	473	20	securities	security	NOUN
cblr-1707	473	21	—	—	PUNCT
cblr-1707	473	22	so	so	ADV
cblr-1707	473	23	-	-	PUNCT
cblr-1707	473	24	called	call	VERB
cblr-1707	473	25	large	large	ADJ
cblr-1707	473	26	-	-	PUNCT
cblr-1707	473	27	scale	scale	NOUN
cblr-1707	473	28	asset	asset	NOUN
cblr-1707	473	29	purchases	purchase	NOUN
cblr-1707	473	30	(	(	PUNCT
cblr-1707	473	31	“	"	PUNCT
cblr-1707	473	32	lsaps	lsap	NOUN
cblr-1707	473	33	”	"	PUNCT
cblr-1707	473	34	)	)	PUNCT
cblr-1707	473	35	—	—	PUNCT
cblr-1707	473	36	as	as	ADP
cblr-1707	473	37	part	part	NOUN
cblr-1707	473	38	of	of	ADP
cblr-1707	473	39	a	a	DET
cblr-1707	473	40	policy	policy	NOUN
cblr-1707	473	41	generally	generally	ADV
cblr-1707	473	42	known	know	VERB
cblr-1707	473	43	as	as	ADP
cblr-1707	473	44	quantitative	quantitative	ADJ
cblr-1707	473	45	easing	easing	NOUN
cblr-1707	473	46	(	(	PUNCT
cblr-1707	473	47	“	"	PUNCT
cblr-1707	473	48	qe	qe	PROPN
cblr-1707	473	49	”	"	PUNCT
cblr-1707	473	50	)	)	PUNCT
cblr-1707	473	51	.	.	PUNCT
cblr-1707	474	1	these	these	DET
cblr-1707	474	2	purchases	purchase	NOUN
cblr-1707	474	3	came	come	VERB
cblr-1707	474	4	in	in	ADP
cblr-1707	474	5	three	three	NUM
cblr-1707	474	6	waves	wave	NOUN
cblr-1707	474	7	,	,	PUNCT
cblr-1707	474	8	which	which	PRON
cblr-1707	474	9	are	be	AUX
cblr-1707	474	10	visible	visible	ADJ
cblr-1707	474	11	in	in	ADP
cblr-1707	474	12	figure	figure	NOUN
cblr-1707	474	13	3	3	NUM
cblr-1707	474	14	.	.	PUNCT
cblr-1707	475	1	the	the	DET
cblr-1707	475	2	first	first	ADJ
cblr-1707	475	3	wave	wave	NOUN
cblr-1707	475	4	of	of	ADP
cblr-1707	475	5	lsaps	lsap	NOUN
cblr-1707	475	6	,	,	PUNCT
cblr-1707	475	7	known	know	VERB
cblr-1707	475	8	as	as	ADP
cblr-1707	475	9	qe1	qe1	ADV
cblr-1707	475	10	,	,	PUNCT
cblr-1707	475	11	started	start	VERB
cblr-1707	475	12	in	in	ADP
cblr-1707	475	13	early	early	ADJ
cblr-1707	475	14	2009	2009	NUM
cblr-1707	475	15	and	and	CCONJ
cblr-1707	475	16	ended	end	VERB
cblr-1707	475	17	in	in	ADP
cblr-1707	475	18	march	march	PROPN
cblr-1707	475	19	2010	2010	NUM
cblr-1707	475	20	.	.	PUNCT
cblr-1707	476	1	the	the	DET
cblr-1707	476	2	second	second	ADJ
cblr-1707	476	3	wave	wave	NOUN
cblr-1707	476	4	,	,	PUNCT
cblr-1707	476	5	qe2	qe2	PROPN
cblr-1707	476	6	,	,	PUNCT
cblr-1707	476	7	lasted	last	VERB
cblr-1707	476	8	from	from	ADP
cblr-1707	476	9	november	november	PROPN
cblr-1707	476	10	2010	2010	NUM
cblr-1707	476	11	to	to	ADP
cblr-1707	476	12	june	june	PROPN
cblr-1707	476	13	2011	2011	NUM
cblr-1707	476	14	.	.	PUNCT
cblr-1707	477	1	the	the	DET
cblr-1707	477	2	third	third	ADJ
cblr-1707	477	3	and	and	CCONJ
cblr-1707	477	4	largest	large	ADJ
cblr-1707	477	5	wave	wave	NOUN
cblr-1707	477	6	,	,	PUNCT
cblr-1707	477	7	qe3	qe3	PROPN
cblr-1707	477	8	,	,	PUNCT
cblr-1707	477	9	lasted	last	VERB
cblr-1707	477	10	from	from	ADP
cblr-1707	477	11	september	september	PROPN
cblr-1707	477	12	2012	2012	NUM
cblr-1707	477	13	to	to	ADP
cblr-1707	477	14	october	october	PROPN
cblr-1707	477	15	2014	2014	NUM
cblr-1707	477	16	.	.	PUNCT
cblr-1707	478	1	by	by	ADP
cblr-1707	478	2	the	the	DET
cblr-1707	478	3	end	end	NOUN
cblr-1707	478	4	of	of	ADP
cblr-1707	478	5	qe3	qe3	PROPN
cblr-1707	478	6	,	,	PUNCT
cblr-1707	478	7	the	the	DET
cblr-1707	478	8	fed	fed	PROPN
cblr-1707	478	9	’s	’s	PART
cblr-1707	478	10	balance	balance	NOUN
cblr-1707	478	11	sheet	sheet	NOUN
cblr-1707	478	12	stood	stand	VERB
cblr-1707	478	13	at	at	ADP
cblr-1707	478	14	about	about	ADP
cblr-1707	478	15	$	$	SYM
cblr-1707	478	16	4.5	4.5	NUM
cblr-1707	478	17	trillion,69	trillion,69	VERB
cblr-1707	478	18	and	and	CCONJ
cblr-1707	478	19	excess	excess	ADJ
cblr-1707	478	20	reserves	reserve	NOUN
cblr-1707	478	21	were	be	AUX
cblr-1707	478	22	$	$	SYM
cblr-1707	478	23	2.6	2.6	NUM
cblr-1707	478	24	trillion.70	trillion.70	VERB
cblr-1707	478	25	far	far	ADV
cblr-1707	478	26	from	from	ADP
cblr-1707	478	27	being	be	AUX
cblr-1707	478	28	scarce	scarce	ADJ
cblr-1707	478	29	,	,	PUNCT
cblr-1707	478	30	reserves	reserve	NOUN
cblr-1707	478	31	were	be	AUX
cblr-1707	478	32	(	(	PUNCT
cblr-1707	478	33	and	and	CCONJ
cblr-1707	478	34	still	still	ADV
cblr-1707	478	35	are	be	AUX
cblr-1707	478	36	)	)	PUNCT
cblr-1707	478	37	“	"	PUNCT
cblr-1707	478	38	superabundant”71	superabundant”71	PROPN
cblr-1707	478	39	:	:	PUNCT
cblr-1707	478	40	the	the	DET
cblr-1707	478	41	banking	banking	NOUN
cblr-1707	478	42	system	system	NOUN
cblr-1707	478	43	is	be	AUX
cblr-1707	478	44	“	"	PUNCT
cblr-1707	478	45	awash	awash	NOUN
cblr-1707	478	46	in	in	ADP
cblr-1707	478	47	reserves	reserve	NOUN
cblr-1707	478	48	.	.	PUNCT
cblr-1707	479	1	”72	”72	VERB
cblr-1707	479	2	the	the	DET
cblr-1707	479	3	lsaps	lsap	NOUN
cblr-1707	479	4	’	'	PUNCT
cblr-1707	479	5	stated	state	VERB
cblr-1707	479	6	purpose	purpose	NOUN
cblr-1707	479	7	was	be	AUX
cblr-1707	479	8	to	to	PART
cblr-1707	479	9	provide	provide	VERB
cblr-1707	479	10	extraordinary	extraordinary	ADJ
cblr-1707	479	11	monetary	monetary	ADJ
cblr-1707	479	12	stimulus	stimulus	NOUN
cblr-1707	479	13	in	in	ADP
cblr-1707	479	14	the	the	DET
cblr-1707	479	15	face	face	NOUN
cblr-1707	479	16	of	of	ADP
cblr-1707	479	17	the	the	DET
cblr-1707	479	18	worst	bad	ADJ
cblr-1707	479	19	u.s	u.s	PROPN
cblr-1707	479	20	.	.	PROPN
cblr-1707	479	21	target	target	NOUN
cblr-1707	479	22	rate	rate	NOUN
cblr-1707	479	23	(	(	PUNCT
cblr-1707	479	24	discontinued	discontinue	VERB
cblr-1707	479	25	)	)	PUNCT
cblr-1707	479	26	(	(	PUNCT
cblr-1707	479	27	“	"	PUNCT
cblr-1707	479	28	dfedtar	dfedtar	NOUN
cblr-1707	479	29	”	"	PUNCT
cblr-1707	479	30	)	)	PUNCT
cblr-1707	479	31	(	(	PUNCT
cblr-1707	479	32	2008	2008	NUM
cblr-1707	479	33	)	)	PUNCT
cblr-1707	479	34	,	,	PUNCT
cblr-1707	479	35	fed	fed	PROPN
cblr-1707	479	36	.	.	PUNCT
cblr-1707	480	1	res	res	PROPN
cblr-1707	480	2	.	.	PUNCT
cblr-1707	480	3	bank	bank	PROPN
cblr-1707	480	4	of	of	ADP
cblr-1707	480	5	st	st	PROPN
cblr-1707	480	6	.	.	PROPN
cblr-1707	480	7	louis	louis	PROPN
cblr-1707	480	8	,	,	PUNCT
cblr-1707	480	9	https://fred.stlouisfed.org/series/dfedtar	https://fred.stlouisfed.org/series/dfedtar	NOUN
cblr-1707	481	1	[	[	X
cblr-1707	481	2	https://perma.cc/56rsxm95	https://perma.cc/56rsxm95	PROPN
cblr-1707	481	3	]	]	PUNCT
cblr-1707	481	4	.	.	PUNCT
cblr-1707	482	1	69	69	NUM
cblr-1707	482	2	fed	fed	PROPN
cblr-1707	482	3	.	.	PUNCT
cblr-1707	483	1	reserve	reserve	PROPN
cblr-1707	483	2	,	,	PUNCT
cblr-1707	483	3	statistical	statistical	ADJ
cblr-1707	483	4	release	release	NOUN
cblr-1707	483	5	:	:	PUNCT
cblr-1707	483	6	factors	factor	NOUN
cblr-1707	483	7	affecting	affect	VERB
cblr-1707	483	8	reserve	reserve	NOUN
cblr-1707	483	9	balances	balance	NOUN
cblr-1707	483	10	of	of	ADP
cblr-1707	483	11	depository	depository	NOUN
cblr-1707	483	12	institutions	institution	NOUN
cblr-1707	483	13	and	and	CCONJ
cblr-1707	483	14	condition	condition	NOUN
cblr-1707	483	15	statement	statement	NOUN
cblr-1707	483	16	of	of	ADP
cblr-1707	483	17	federal	federal	PROPN
cblr-1707	483	18	reserve	reserve	PROPN
cblr-1707	483	19	banks	bank	NOUN
cblr-1707	483	20	h.4.1	h.4.1	ADJ
cblr-1707	483	21	tbl.6	tbl.6	PROPN
cblr-1707	483	22	(	(	PUNCT
cblr-1707	483	23	oct	oct	PROPN
cblr-1707	483	24	.	.	PROPN
cblr-1707	483	25	30	30	NUM
cblr-1707	483	26	,	,	PUNCT
cblr-1707	483	27	2014	2014	NUM
cblr-1707	483	28	)	)	PUNCT
cblr-1707	483	29	.	.	PUNCT
cblr-1707	484	1	70	70	NUM
cblr-1707	484	2	fed	fed	PROPN
cblr-1707	484	3	.	.	PUNCT
cblr-1707	485	1	reserve	reserve	PROPN
cblr-1707	485	2	,	,	PUNCT
cblr-1707	485	3	statistical	statistical	ADJ
cblr-1707	485	4	release	release	NOUN
cblr-1707	485	5	:	:	PUNCT
cblr-1707	485	6	aggregate	aggregate	ADJ
cblr-1707	485	7	reserves	reserve	NOUN
cblr-1707	485	8	of	of	ADP
cblr-1707	485	9	depository	depository	NOUN
cblr-1707	485	10	institutions	institution	NOUN
cblr-1707	485	11	and	and	CCONJ
cblr-1707	485	12	the	the	DET
cblr-1707	485	13	monetary	monetary	ADJ
cblr-1707	485	14	base	base	NOUN
cblr-1707	485	15	h.3	h.3	X
cblr-1707	486	1	tbl.1	tbl.1	PROPN
cblr-1707	486	2	(	(	PUNCT
cblr-1707	486	3	oct	oct	PROPN
cblr-1707	486	4	.	.	PROPN
cblr-1707	486	5	30	30	NUM
cblr-1707	486	6	,	,	PUNCT
cblr-1707	486	7	2014	2014	NUM
cblr-1707	486	8	)	)	PUNCT
cblr-1707	486	9	.	.	PUNCT
cblr-1707	487	1	71	71	NUM
cblr-1707	487	2	jane	jane	PROPN
cblr-1707	487	3	e.	e.	PROPN
cblr-1707	487	4	ihrig	ihrig	PROPN
cblr-1707	487	5	,	,	PUNCT
cblr-1707	487	6	ellen	ellen	PROPN
cblr-1707	487	7	e.	e.	PROPN
cblr-1707	487	8	meade	meade	PROPN
cblr-1707	487	9	&	&	CCONJ
cblr-1707	487	10	gretchen	gretchen	PROPN
cblr-1707	487	11	c.	c.	PROPN
cblr-1707	487	12	weinbach	weinbach	PROPN
cblr-1707	487	13	,	,	PUNCT
cblr-1707	487	14	monetary	monetary	ADJ
cblr-1707	487	15	policy	policy	NOUN
cblr-1707	487	16	101	101	NUM
cblr-1707	487	17	:	:	PUNCT
cblr-1707	487	18	a	a	DET
cblr-1707	487	19	primer	primer	NOUN
cblr-1707	487	20	on	on	ADP
cblr-1707	487	21	the	the	DET
cblr-1707	487	22	fed	fed	PROPN
cblr-1707	487	23	’s	’s	PART
cblr-1707	487	24	changing	change	VERB
cblr-1707	487	25	approach	approach	NOUN
cblr-1707	487	26	to	to	ADP
cblr-1707	487	27	policy	policy	NOUN
cblr-1707	487	28	implementation	implementation	NOUN
cblr-1707	487	29	10–11	10–11	NUM
cblr-1707	487	30	(	(	PUNCT
cblr-1707	487	31	fin	fin	PROPN
cblr-1707	487	32	.	.	PROPN
cblr-1707	487	33	&	&	CCONJ
cblr-1707	487	34	econ	econ	PROPN
cblr-1707	487	35	.	.	PUNCT
cblr-1707	488	1	discussion	discussion	NOUN
cblr-1707	488	2	series	series	PROPN
cblr-1707	488	3	,	,	PUNCT
cblr-1707	488	4	working	working	NOUN
cblr-1707	488	5	paper	paper	NOUN
cblr-1707	488	6	no	no	NOUN
cblr-1707	488	7	.	.	NOUN
cblr-1707	489	1	2015	2015	NUM
cblr-1707	489	2	-	-	SYM
cblr-1707	489	3	047	047	NUM
cblr-1707	489	4	,	,	PUNCT
cblr-1707	489	5	2015	2015	NUM
cblr-1707	489	6	)	)	PUNCT
cblr-1707	489	7	.	.	PUNCT
cblr-1707	490	1	72	72	NUM
cblr-1707	490	2	morten	morten	PROPN
cblr-1707	490	3	l.	l.	PROPN
cblr-1707	490	4	bech	bech	PROPN
cblr-1707	490	5	,	,	PUNCT
cblr-1707	490	6	antoine	antoine	PROPN
cblr-1707	490	7	martin	martin	PROPN
cblr-1707	490	8	&	&	CCONJ
cblr-1707	490	9	james	james	PROPN
cblr-1707	490	10	mcandrews	mcandrews	PROPN
cblr-1707	490	11	,	,	PUNCT
cblr-1707	490	12	settlement	settlement	NOUN
cblr-1707	490	13	liquidity	liquidity	NOUN
cblr-1707	490	14	and	and	CCONJ
cblr-1707	490	15	monetary	monetary	ADJ
cblr-1707	490	16	policy	policy	NOUN
cblr-1707	490	17	implementation	implementation	NOUN
cblr-1707	490	18	—	—	PUNCT
cblr-1707	490	19	lessons	lesson	NOUN
cblr-1707	490	20	from	from	ADP
cblr-1707	490	21	the	the	DET
cblr-1707	490	22	financial	financial	ADJ
cblr-1707	490	23	crisis	crisis	NOUN
cblr-1707	490	24	,	,	PUNCT
cblr-1707	490	25	18	18	NUM
cblr-1707	490	26	frbny	frbny	PROPN
cblr-1707	490	27	econ	econ	PROPN
cblr-1707	490	28	.	.	PUNCT
cblr-1707	490	29	pol’y	pol’y	NOUN
cblr-1707	490	30	rev	rev	VERB
cblr-1707	490	31	.	.	PROPN
cblr-1707	490	32	1	1	NUM
cblr-1707	490	33	,	,	PUNCT
cblr-1707	490	34	13	13	NUM
cblr-1707	490	35	n.21	n.21	PROPN
cblr-1707	490	36	(	(	PUNCT
cblr-1707	490	37	2012	2012	NUM
cblr-1707	490	38	)	)	PUNCT
cblr-1707	490	39	;	;	PUNCT
cblr-1707	490	40	see	see	VERB
cblr-1707	490	41	also	also	ADV
cblr-1707	490	42	ben	ben	PROPN
cblr-1707	490	43	r.	r.	PROPN
cblr-1707	490	44	craig	craig	PROPN
cblr-1707	490	45	&	&	CCONJ
cblr-1707	490	46	matthew	matthew	PROPN
cblr-1707	490	47	koepke	koepke	PROPN
cblr-1707	490	48	,	,	PUNCT
cblr-1707	490	49	excess	excess	ADJ
cblr-1707	490	50	reserves	reserve	NOUN
cblr-1707	490	51	:	:	PUNCT
cblr-1707	490	52	oceans	ocean	NOUN
cblr-1707	490	53	of	of	ADP
cblr-1707	490	54	cash	cash	NOUN
cblr-1707	490	55	,	,	PUNCT
cblr-1707	490	56	frbc	frbc	VERB
cblr-1707	490	57	econ	econ	X
cblr-1707	490	58	.	.	PUNCT
cblr-1707	491	1	comment	comment	NOUN
cblr-1707	491	2	.	.	PUNCT
cblr-1707	492	1	1	1	NUM
cblr-1707	492	2	(	(	PUNCT
cblr-1707	492	3	feb	feb	X
cblr-1707	492	4	.	.	PROPN
cblr-1707	492	5	12	12	NUM
cblr-1707	492	6	,	,	PUNCT
cblr-1707	492	7	2015	2015	NUM
cblr-1707	492	8	)	)	PUNCT
cblr-1707	492	9	.	.	PUNCT
cblr-1707	493	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	493	2	no	no	NOUN
cblr-1707	493	3	.	.	PUNCT
cblr-1707	494	1	3:757	3:757	NUM
cblr-1707	494	2	]	]	X
cblr-1707	494	3	money	money	NOUN
cblr-1707	494	4	as	as	ADP
cblr-1707	494	5	infrastructure	infrastructure	NOUN
cblr-1707	494	6	785	785	NUM
cblr-1707	494	7	macroeconomic	macroeconomic	ADJ
cblr-1707	494	8	conditions	condition	NOUN
cblr-1707	494	9	since	since	SCONJ
cblr-1707	494	10	the	the	DET
cblr-1707	494	11	great	great	ADJ
cblr-1707	494	12	depression.73	depression.73	NOUN
cblr-1707	494	13	with	with	ADP
cblr-1707	494	14	short	short	ADJ
cblr-1707	494	15	-	-	PUNCT
cblr-1707	494	16	term	term	NOUN
cblr-1707	494	17	interest	interest	NOUN
cblr-1707	494	18	rates	rate	NOUN
cblr-1707	494	19	at	at	ADP
cblr-1707	494	20	or	or	CCONJ
cblr-1707	494	21	near	near	ADP
cblr-1707	494	22	the	the	DET
cblr-1707	494	23	zero	zero	NUM
cblr-1707	494	24	lower	lower	ADV
cblr-1707	494	25	bound	bind	VERB
cblr-1707	494	26	,	,	PUNCT
cblr-1707	494	27	traditional	traditional	ADJ
cblr-1707	494	28	monetary	monetary	ADJ
cblr-1707	494	29	policy	policy	NOUN
cblr-1707	494	30	had	have	AUX
cblr-1707	494	31	run	run	VERB
cblr-1707	494	32	out	out	ADP
cblr-1707	494	33	of	of	ADP
cblr-1707	494	34	ammunition	ammunition	NOUN
cblr-1707	494	35	.	.	PUNCT
cblr-1707	495	1	whereas	whereas	SCONJ
cblr-1707	495	2	traditional	traditional	ADJ
cblr-1707	495	3	monetary	monetary	ADJ
cblr-1707	495	4	easing	easing	NOUN
cblr-1707	495	5	relies	rely	VERB
cblr-1707	495	6	largely	largely	ADV
cblr-1707	495	7	on	on	ADP
cblr-1707	495	8	purchases	purchase	NOUN
cblr-1707	495	9	of	of	ADP
cblr-1707	495	10	short	short	ADJ
cblr-1707	495	11	-	-	PUNCT
cblr-1707	495	12	term	term	NOUN
cblr-1707	495	13	government	government	NOUN
cblr-1707	495	14	securities	security	NOUN
cblr-1707	495	15	,	,	PUNCT
cblr-1707	495	16	the	the	DET
cblr-1707	495	17	lsaps	lsap	NOUN
cblr-1707	495	18	consisted	consist	VERB
cblr-1707	495	19	mostly	mostly	ADV
cblr-1707	495	20	of	of	ADP
cblr-1707	495	21	longer	long	ADJ
cblr-1707	495	22	-	-	PUNCT
cblr-1707	495	23	maturity	maturity	NOUN
cblr-1707	495	24	bonds	bond	NOUN
cblr-1707	495	25	.	.	PUNCT
cblr-1707	496	1	these	these	DET
cblr-1707	496	2	purchases	purchase	NOUN
cblr-1707	496	3	were	be	AUX
cblr-1707	496	4	designed	design	VERB
cblr-1707	496	5	to	to	PART
cblr-1707	496	6	put	put	VERB
cblr-1707	496	7	direct	direct	ADJ
cblr-1707	496	8	downward	downward	ADJ
cblr-1707	496	9	pressure	pressure	NOUN
cblr-1707	496	10	on	on	ADP
cblr-1707	496	11	long	long	ADJ
cblr-1707	496	12	-	-	PUNCT
cblr-1707	496	13	term	term	NOUN
cblr-1707	496	14	interest	interest	NOUN
cblr-1707	496	15	rates.74	rates.74	NOUN
cblr-1707	496	16	in	in	ADP
cblr-1707	496	17	addition	addition	NOUN
cblr-1707	496	18	,	,	PUNCT
cblr-1707	496	19	the	the	DET
cblr-1707	496	20	lsaps	lsap	NOUN
cblr-1707	496	21	were	be	AUX
cblr-1707	496	22	not	not	PART
cblr-1707	496	23	limited	limit	VERB
cblr-1707	496	24	to	to	ADP
cblr-1707	496	25	treasury	treasury	PROPN
cblr-1707	496	26	securities	security	NOUN
cblr-1707	496	27	;	;	PUNCT
cblr-1707	496	28	they	they	PRON
cblr-1707	496	29	included	include	VERB
cblr-1707	496	30	large	large	ADJ
cblr-1707	496	31	quantities	quantity	NOUN
cblr-1707	496	32	of	of	ADP
cblr-1707	496	33	mortgage	mortgage	NOUN
cblr-1707	496	34	-	-	PUNCT
cblr-1707	496	35	backed	back	VERB
cblr-1707	496	36	securities	security	NOUN
cblr-1707	496	37	guaranteed	guarantee	VERB
cblr-1707	496	38	by	by	ADP
cblr-1707	496	39	,	,	PUNCT
cblr-1707	496	40	as	as	ADV
cblr-1707	496	41	well	well	ADV
cblr-1707	496	42	as	as	ADP
cblr-1707	496	43	securities	security	NOUN
cblr-1707	496	44	directly	directly	ADV
cblr-1707	496	45	issued	issue	VERB
cblr-1707	496	46	by	by	ADP
cblr-1707	496	47	,	,	PUNCT
cblr-1707	496	48	the	the	DET
cblr-1707	496	49	housing	housing	NOUN
cblr-1707	496	50	-	-	PUNCT
cblr-1707	496	51	finance	finance	NOUN
cblr-1707	496	52	giants	giant	NOUN
cblr-1707	496	53	fannie	fannie	PROPN
cblr-1707	496	54	mae	mae	PROPN
cblr-1707	496	55	and	and	CCONJ
cblr-1707	496	56	freddie	freddie	PROPN
cblr-1707	496	57	mac	mac	PROPN
cblr-1707	496	58	.	.	PUNCT
cblr-1707	496	59	by	by	ADP
cblr-1707	496	60	expanding	expand	VERB
cblr-1707	496	61	into	into	ADP
cblr-1707	496	62	these	these	DET
cblr-1707	496	63	securities	security	NOUN
cblr-1707	496	64	,	,	PUNCT
cblr-1707	496	65	the	the	DET
cblr-1707	496	66	federal	federal	PROPN
cblr-1707	496	67	reserve	reserve	PROPN
cblr-1707	496	68	sought	seek	VERB
cblr-1707	496	69	to	to	PART
cblr-1707	496	70	support	support	VERB
cblr-1707	496	71	the	the	DET
cblr-1707	496	72	flow	flow	NOUN
cblr-1707	496	73	of	of	ADP
cblr-1707	496	74	credit	credit	NOUN
cblr-1707	496	75	to	to	ADP
cblr-1707	496	76	the	the	DET
cblr-1707	496	77	struggling	struggle	VERB
cblr-1707	496	78	housing	housing	NOUN
cblr-1707	496	79	sector	sector	NOUN
cblr-1707	496	80	while	while	SCONJ
cblr-1707	496	81	also	also	ADV
cblr-1707	496	82	limiting	limit	VERB
cblr-1707	496	83	its	its	PRON
cblr-1707	496	84	own	own	ADJ
cblr-1707	496	85	dominant	dominant	ADJ
cblr-1707	496	86	presence	presence	NOUN
cblr-1707	496	87	in	in	ADP
cblr-1707	496	88	the	the	DET
cblr-1707	496	89	treasury	treasury	NOUN
cblr-1707	496	90	market	market	NOUN
cblr-1707	496	91	.	.	PUNCT
cblr-1707	497	1	the	the	DET
cblr-1707	497	2	federal	federal	PROPN
cblr-1707	497	3	reserve	reserve	PROPN
cblr-1707	497	4	’s	’s	PART
cblr-1707	497	5	balance	balance	NOUN
cblr-1707	497	6	sheet	sheet	NOUN
cblr-1707	497	7	was	be	AUX
cblr-1707	497	8	thus	thus	ADV
cblr-1707	497	9	transformed	transform	VERB
cblr-1707	497	10	.	.	PUNCT
cblr-1707	498	1	and	and	CCONJ
cblr-1707	498	2	this	this	DET
cblr-1707	498	3	unprecedented	unprecedented	ADJ
cblr-1707	498	4	expansion	expansion	NOUN
cblr-1707	498	5	raised	raise	VERB
cblr-1707	498	6	a	a	DET
cblr-1707	498	7	critical	critical	ADJ
cblr-1707	498	8	question	question	NOUN
cblr-1707	498	9	:	:	PUNCT
cblr-1707	498	10	in	in	ADP
cblr-1707	498	11	a	a	DET
cblr-1707	498	12	world	world	NOUN
cblr-1707	498	13	with	with	ADP
cblr-1707	498	14	superabundant	superabundant	ADJ
cblr-1707	498	15	reserves	reserve	NOUN
cblr-1707	498	16	,	,	PUNCT
cblr-1707	498	17	how	how	SCONJ
cblr-1707	498	18	might	might	AUX
cblr-1707	498	19	the	the	DET
cblr-1707	498	20	federal	federal	PROPN
cblr-1707	498	21	reserve	reserve	PROPN
cblr-1707	498	22	reverse	reverse	NOUN
cblr-1707	498	23	course	course	ADV
cblr-1707	498	24	and	and	CCONJ
cblr-1707	498	25	raise	raise	VERB
cblr-1707	498	26	interest	interest	NOUN
cblr-1707	498	27	rates	rate	NOUN
cblr-1707	498	28	if	if	SCONJ
cblr-1707	498	29	the	the	DET
cblr-1707	498	30	economy	economy	NOUN
cblr-1707	498	31	showed	show	VERB
cblr-1707	498	32	signs	sign	NOUN
cblr-1707	498	33	of	of	ADP
cblr-1707	498	34	overheating	overheat	VERB
cblr-1707	498	35	?	?	PUNCT
cblr-1707	499	1	the	the	DET
cblr-1707	499	2	seemingly	seemingly	ADV
cblr-1707	499	3	obvious	obvious	ADJ
cblr-1707	499	4	answer	answer	NOUN
cblr-1707	499	5	would	would	AUX
cblr-1707	499	6	be	be	AUX
cblr-1707	499	7	to	to	PART
cblr-1707	499	8	start	start	VERB
cblr-1707	499	9	by	by	ADP
cblr-1707	499	10	reversing	reverse	VERB
cblr-1707	499	11	the	the	DET
cblr-1707	499	12	lsaps	lsap	NOUN
cblr-1707	499	13	—	—	PUNCT
cblr-1707	499	14	that	that	ADV
cblr-1707	499	15	is	is	ADV
cblr-1707	499	16	,	,	PUNCT
cblr-1707	499	17	sell	sell	VERB
cblr-1707	499	18	securities	security	NOUN
cblr-1707	499	19	.	.	PUNCT
cblr-1707	500	1	a	a	DET
cblr-1707	500	2	gradual	gradual	ADJ
cblr-1707	500	3	sell	sell	NOUN
cblr-1707	500	4	-	-	PUNCT
cblr-1707	500	5	off	off	NOUN
cblr-1707	500	6	of	of	ADP
cblr-1707	500	7	its	its	PRON
cblr-1707	500	8	enormous	enormous	ADJ
cblr-1707	500	9	securities	security	NOUN
cblr-1707	500	10	portfolio	portfolio	NOUN
cblr-1707	500	11	should	should	AUX
cblr-1707	500	12	increase	increase	VERB
cblr-1707	500	13	long	long	ADJ
cblr-1707	500	14	-	-	PUNCT
cblr-1707	500	15	term	term	NOUN
cblr-1707	500	16	interest	interest	NOUN
cblr-1707	500	17	rates	rate	NOUN
cblr-1707	500	18	and	and	CCONJ
cblr-1707	500	19	dampen	dampen	VERB
cblr-1707	500	20	inflation	inflation	NOUN
cblr-1707	500	21	.	.	PUNCT
cblr-1707	501	1	eventually	eventually	ADV
cblr-1707	501	2	,	,	PUNCT
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cblr-1707	501	7	sheet	sheet	NOUN
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cblr-1707	501	10	.	.	PUNCT
cblr-1707	502	1	reserves	reserve	NOUN
cblr-1707	502	2	would	would	AUX
cblr-1707	502	3	again	again	ADV
cblr-1707	502	4	be	be	AUX
cblr-1707	502	5	scarce	scarce	ADJ
cblr-1707	502	6	,	,	PUNCT
cblr-1707	502	7	at	at	ADP
cblr-1707	502	8	which	which	DET
cblr-1707	502	9	point	point	NOUN
cblr-1707	502	10	the	the	DET
cblr-1707	502	11	fed	fed	PROPN
cblr-1707	502	12	could	could	AUX
cblr-1707	502	13	resume	resume	VERB
cblr-1707	502	14	its	its	PRON
cblr-1707	502	15	traditional	traditional	ADJ
cblr-1707	502	16	scarce	scarce	ADJ
cblr-1707	502	17	-	-	PUNCT
cblr-1707	502	18	reserves	reserve	NOUN
cblr-1707	502	19	approach	approach	NOUN
cblr-1707	502	20	to	to	ADP
cblr-1707	502	21	managing	manage	VERB
cblr-1707	502	22	short	short	ADJ
cblr-1707	502	23	-	-	PUNCT
cblr-1707	502	24	term	term	NOUN
cblr-1707	502	25	interest	interest	NOUN
cblr-1707	502	26	rates	rate	NOUN
cblr-1707	502	27	.	.	PUNCT
cblr-1707	503	1	73	73	NUM
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cblr-1707	503	8	,	,	PUNCT
cblr-1707	503	9	bd	bd	PROPN
cblr-1707	503	10	.	.	PROPN
cblr-1707	503	11	of	of	ADP
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cblr-1707	503	13	of	of	ADP
cblr-1707	503	14	the	the	DET
cblr-1707	503	15	fed	fed	PROPN
cblr-1707	503	16	.	.	PUNCT
cblr-1707	504	1	reserve	reserve	PROPN
cblr-1707	504	2	sys	sys	PROPN
cblr-1707	504	3	.	.	PROPN
cblr-1707	504	4	,	,	PUNCT
cblr-1707	504	5	federal	federal	PROPN
cblr-1707	504	6	reserve	reserve	PROPN
cblr-1707	504	7	issues	issue	NOUN
cblr-1707	504	8	fomc	fomc	NOUN
cblr-1707	504	9	statement	statement	NOUN
cblr-1707	504	10	(	(	PUNCT
cblr-1707	504	11	sept	sept	PROPN
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cblr-1707	504	17	,	,	PUNCT
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cblr-1707	508	1	[	[	X
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cblr-1707	508	4	.	.	PUNCT
cblr-1707	509	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	509	2	786	786	NUM
cblr-1707	509	3	columbia	columbia	PROPN
cblr-1707	509	4	business	business	NOUN
cblr-1707	509	5	law	law	PROPN
cblr-1707	509	6	review	review	NOUN
cblr-1707	509	7	[	[	X
cblr-1707	509	8	vol	vol	NOUN
cblr-1707	509	9	.	.	NOUN
cblr-1707	509	10	2018	2018	NUM
cblr-1707	509	11	for	for	ADP
cblr-1707	509	12	better	well	ADJ
cblr-1707	509	13	or	or	CCONJ
cblr-1707	509	14	worse	bad	ADJ
cblr-1707	509	15	,	,	PUNCT
cblr-1707	509	16	the	the	DET
cblr-1707	509	17	fed	fed	PROPN
cblr-1707	509	18	has	have	AUX
cblr-1707	509	19	elected	elect	VERB
cblr-1707	509	20	not	not	PART
cblr-1707	509	21	to	to	PART
cblr-1707	509	22	pursue	pursue	VERB
cblr-1707	509	23	this	this	DET
cblr-1707	509	24	strategy	strategy	NOUN
cblr-1707	509	25	.	.	PUNCT
cblr-1707	510	1	to	to	PART
cblr-1707	510	2	be	be	AUX
cblr-1707	510	3	sure	sure	ADJ
cblr-1707	510	4	,	,	PUNCT
cblr-1707	510	5	as	as	ADP
cblr-1707	510	6	part	part	NOUN
cblr-1707	510	7	of	of	ADP
cblr-1707	510	8	its	its	PRON
cblr-1707	510	9	plans	plan	NOUN
cblr-1707	510	10	for	for	ADP
cblr-1707	510	11	“	"	PUNCT
cblr-1707	510	12	policy	policy	NOUN
cblr-1707	510	13	normalization	normalization	NOUN
cblr-1707	510	14	,	,	PUNCT
cblr-1707	510	15	”	"	PUNCT
cblr-1707	510	16	the	the	DET
cblr-1707	510	17	fed	fed	PROPN
cblr-1707	510	18	intends	intend	VERB
cblr-1707	510	19	“	"	PUNCT
cblr-1707	510	20	in	in	ADP
cblr-1707	510	21	the	the	DET
cblr-1707	510	22	longer	long	ADJ
cblr-1707	510	23	run	run	NOUN
cblr-1707	510	24	[	[	X
cblr-1707	510	25	to	to	PART
cblr-1707	510	26	]	]	PUNCT
cblr-1707	510	27	hold	hold	VERB
cblr-1707	510	28	no	no	DET
cblr-1707	510	29	more	more	ADJ
cblr-1707	510	30	securities	security	NOUN
cblr-1707	510	31	than	than	ADP
cblr-1707	510	32	necessary	necessary	ADJ
cblr-1707	510	33	to	to	PART
cblr-1707	510	34	implement	implement	VERB
cblr-1707	510	35	monetary	monetary	ADJ
cblr-1707	510	36	policy	policy	NOUN
cblr-1707	510	37	efficiently	efficiently	ADV
cblr-1707	510	38	and	and	CCONJ
cblr-1707	510	39	effectively	effectively	ADV
cblr-1707	510	40	,	,	PUNCT
cblr-1707	510	41	and	and	CCONJ
cblr-1707	510	42	[	[	X
cblr-1707	510	43	to	to	PART
cblr-1707	510	44	]	]	PUNCT
cblr-1707	510	45	hold	hold	VERB
cblr-1707	510	46	primarily	primarily	ADV
cblr-1707	510	47	treasury	treasury	NOUN
cblr-1707	510	48	securities	security	NOUN
cblr-1707	510	49	,	,	PUNCT
cblr-1707	510	50	thereby	thereby	ADV
cblr-1707	510	51	minimizing	minimize	VERB
cblr-1707	510	52	the	the	DET
cblr-1707	510	53	effect	effect	NOUN
cblr-1707	510	54	of	of	ADP
cblr-1707	510	55	[	[	X
cblr-1707	510	56	its	its	PRON
cblr-1707	510	57	]	]	X
cblr-1707	510	58	holdings	holding	NOUN
cblr-1707	510	59	on	on	ADP
cblr-1707	510	60	the	the	DET
cblr-1707	510	61	allocation	allocation	NOUN
cblr-1707	510	62	of	of	ADP
cblr-1707	510	63	credit	credit	NOUN
cblr-1707	510	64	across	across	ADP
cblr-1707	510	65	sectors	sector	NOUN
cblr-1707	510	66	of	of	ADP
cblr-1707	510	67	the	the	DET
cblr-1707	510	68	economy	economy	NOUN
cblr-1707	510	69	.	.	PUNCT
cblr-1707	511	1	”75	”75	PROPN
cblr-1707	512	1	but	but	CCONJ
cblr-1707	512	2	this	this	DET
cblr-1707	512	3	balance	balance	NOUN
cblr-1707	512	4	-	-	PUNCT
cblr-1707	512	5	sheet	sheet	NOUN
cblr-1707	512	6	shrinkage	shrinkage	NOUN
cblr-1707	512	7	is	be	AUX
cblr-1707	512	8	to	to	PART
cblr-1707	512	9	be	be	AUX
cblr-1707	512	10	accomplished	accomplish	VERB
cblr-1707	512	11	“	"	PUNCT
cblr-1707	512	12	in	in	ADP
cblr-1707	512	13	a	a	DET
cblr-1707	512	14	gradual	gradual	ADJ
cblr-1707	512	15	and	and	CCONJ
cblr-1707	512	16	predictable	predictable	ADJ
cblr-1707	512	17	manner	manner	NOUN
cblr-1707	512	18	primarily	primarily	ADV
cblr-1707	512	19	by	by	ADP
cblr-1707	512	20	ceasing	cease	VERB
cblr-1707	512	21	to	to	PART
cblr-1707	512	22	reinvest	reinvest	VERB
cblr-1707	512	23	repayments	repayment	NOUN
cblr-1707	512	24	of	of	ADP
cblr-1707	512	25	principal	principal	NOUN
cblr-1707	512	26	on	on	ADP
cblr-1707	512	27	securities	security	NOUN
cblr-1707	512	28	”	"	PUNCT
cblr-1707	512	29	held	hold	VERB
cblr-1707	512	30	in	in	ADP
cblr-1707	512	31	its	its	PRON
cblr-1707	512	32	portfolio.76	portfolio.76	NOUN
cblr-1707	512	33	in	in	ADP
cblr-1707	512	34	other	other	ADJ
cblr-1707	512	35	words	word	NOUN
cblr-1707	512	36	,	,	PUNCT
cblr-1707	512	37	the	the	DET
cblr-1707	512	38	fed	fed	PROPN
cblr-1707	512	39	does	do	AUX
cblr-1707	512	40	not	not	PART
cblr-1707	512	41	intend	intend	VERB
cblr-1707	512	42	to	to	PART
cblr-1707	512	43	use	use	VERB
cblr-1707	512	44	lsap	lsap	ADJ
cblr-1707	512	45	reversal	reversal	NOUN
cblr-1707	512	46	as	as	ADP
cblr-1707	512	47	a	a	DET
cblr-1707	512	48	means	means	NOUN
cblr-1707	512	49	to	to	PART
cblr-1707	512	50	tighten	tighten	VERB
cblr-1707	512	51	monetary	monetary	ADJ
cblr-1707	512	52	policy	policy	NOUN
cblr-1707	512	53	.	.	PUNCT
cblr-1707	513	1	it	it	PRON
cblr-1707	513	2	has	have	AUX
cblr-1707	513	3	opted	opt	VERB
cblr-1707	513	4	instead	instead	ADV
cblr-1707	513	5	to	to	PART
cblr-1707	513	6	do	do	VERB
cblr-1707	513	7	something	something	PRON
cblr-1707	513	8	else	else	ADV
cblr-1707	513	9	entirely	entirely	ADV
cblr-1707	513	10	:	:	PUNCT
cblr-1707	513	11	use	use	VERB
cblr-1707	513	12	administered	administer	VERB
cblr-1707	513	13	rates	rate	NOUN
cblr-1707	513	14	to	to	PART
cblr-1707	513	15	support	support	VERB
cblr-1707	513	16	short	short	ADJ
cblr-1707	513	17	-	-	PUNCT
cblr-1707	513	18	term	term	NOUN
cblr-1707	513	19	market	market	NOUN
cblr-1707	513	20	interest	interest	NOUN
cblr-1707	513	21	rates	rate	NOUN
cblr-1707	513	22	.	.	PUNCT
cblr-1707	514	1	c.	c.	PROPN
cblr-1707	514	2	administered	administer	VERB
cblr-1707	514	3	rates	rate	NOUN
cblr-1707	514	4	an	an	DET
cblr-1707	514	5	administered	administer	VERB
cblr-1707	514	6	rate	rate	NOUN
cblr-1707	514	7	is	be	AUX
cblr-1707	514	8	an	an	DET
cblr-1707	514	9	interest	interest	NOUN
cblr-1707	514	10	rate	rate	NOUN
cblr-1707	514	11	that	that	PRON
cblr-1707	514	12	the	the	DET
cblr-1707	514	13	central	central	ADJ
cblr-1707	514	14	bank	bank	NOUN
cblr-1707	514	15	pays	pay	VERB
cblr-1707	514	16	on	on	ADP
cblr-1707	514	17	certain	certain	ADJ
cblr-1707	514	18	of	of	ADP
cblr-1707	514	19	its	its	PRON
cblr-1707	514	20	liabilities	liability	NOUN
cblr-1707	514	21	and	and	CCONJ
cblr-1707	514	22	that	that	SCONJ
cblr-1707	514	23	it	it	PRON
cblr-1707	514	24	can	can	AUX
cblr-1707	514	25	adjust	adjust	VERB
cblr-1707	514	26	administratively.77	administratively.77	NOUN
cblr-1707	514	27	(	(	PUNCT
cblr-1707	514	28	the	the	DET
cblr-1707	514	29	federal	federal	ADJ
cblr-1707	514	30	funds	fund	NOUN
cblr-1707	514	31	rate	rate	NOUN
cblr-1707	514	32	is	be	AUX
cblr-1707	514	33	not	not	PART
cblr-1707	514	34	an	an	DET
cblr-1707	514	35	administered	administer	VERB
cblr-1707	514	36	rate	rate	NOUN
cblr-1707	514	37	but	but	CCONJ
cblr-1707	514	38	rather	rather	ADV
cblr-1707	514	39	a	a	DET
cblr-1707	514	40	private	private	ADJ
cblr-1707	514	41	market	market	NOUN
cblr-1707	514	42	rate	rate	NOUN
cblr-1707	514	43	targeted	target	VERB
cblr-1707	514	44	by	by	ADP
cblr-1707	514	45	the	the	DET
cblr-1707	514	46	fed	fed	PROPN
cblr-1707	514	47	in	in	ADP
cblr-1707	514	48	the	the	DET
cblr-1707	514	49	conduct	conduct	NOUN
cblr-1707	514	50	of	of	ADP
cblr-1707	514	51	monetary	monetary	ADJ
cblr-1707	514	52	policy	policy	NOUN
cblr-1707	514	53	.	.	PUNCT
cblr-1707	514	54	)	)	PUNCT
cblr-1707	515	1	the	the	DET
cblr-1707	515	2	theory	theory	NOUN
cblr-1707	515	3	is	be	AUX
cblr-1707	515	4	that	that	SCONJ
cblr-1707	515	5	these	these	DET
cblr-1707	515	6	administered	administer	VERB
cblr-1707	515	7	rates	rate	NOUN
cblr-1707	515	8	will	will	AUX
cblr-1707	515	9	“	"	PUNCT
cblr-1707	515	10	pass	pass	VERB
cblr-1707	515	11	through	through	ADP
cblr-1707	515	12	”	"	PUNCT
cblr-1707	515	13	to	to	ADP
cblr-1707	515	14	other	other	ADJ
cblr-1707	515	15	market	market	NOUN
cblr-1707	515	16	interest	interest	NOUN
cblr-1707	515	17	rates	rate	NOUN
cblr-1707	515	18	,	,	PUNCT
cblr-1707	515	19	giving	give	VERB
cblr-1707	515	20	the	the	DET
cblr-1707	515	21	central	central	ADJ
cblr-1707	515	22	bank	bank	NOUN
cblr-1707	515	23	a	a	DET
cblr-1707	515	24	way	way	NOUN
cblr-1707	515	25	to	to	PART
cblr-1707	515	26	tighten	tighten	VERB
cblr-1707	515	27	or	or	CCONJ
cblr-1707	515	28	ease	ease	VERB
cblr-1707	515	29	monetary	monetary	ADJ
cblr-1707	515	30	policy	policy	NOUN
cblr-1707	515	31	without	without	ADP
cblr-1707	515	32	necessarily	necessarily	ADV
cblr-1707	515	33	adjusting	adjust	VERB
cblr-1707	515	34	the	the	DET
cblr-1707	515	35	quantity	quantity	NOUN
cblr-1707	515	36	of	of	ADP
cblr-1707	515	37	base	base	ADJ
cblr-1707	515	38	money	money	NOUN
cblr-1707	515	39	outstanding	outstanding	ADJ
cblr-1707	515	40	.	.	PUNCT
cblr-1707	516	1	administered	administer	VERB
cblr-1707	516	2	rates	rate	NOUN
cblr-1707	516	3	do	do	VERB
cblr-1707	516	4	75	75	NUM
cblr-1707	516	5	press	press	NOUN
cblr-1707	516	6	release	release	NOUN
cblr-1707	516	7	,	,	PUNCT
cblr-1707	516	8	bd	bd	PROPN
cblr-1707	516	9	.	.	PROPN
cblr-1707	516	10	of	of	ADP
cblr-1707	516	11	governors	governor	NOUN
cblr-1707	516	12	of	of	ADP
cblr-1707	516	13	the	the	DET
cblr-1707	516	14	fed	fed	PROPN
cblr-1707	516	15	.	.	PUNCT
cblr-1707	517	1	reserve	reserve	PROPN
cblr-1707	517	2	sys	sys	PROPN
cblr-1707	517	3	.	.	PROPN
cblr-1707	517	4	,	,	PUNCT
cblr-1707	517	5	policy	policy	NOUN
cblr-1707	517	6	normalization	normalization	NOUN
cblr-1707	517	7	principles	principle	NOUN
cblr-1707	517	8	and	and	CCONJ
cblr-1707	517	9	plans	plan	NOUN
cblr-1707	517	10	(	(	PUNCT
cblr-1707	517	11	sept	sept	PROPN
cblr-1707	517	12	.	.	PROPN
cblr-1707	517	13	17	17	NUM
cblr-1707	517	14	,	,	PUNCT
cblr-1707	517	15	2014	2014	NUM
cblr-1707	517	16	)	)	PUNCT
cblr-1707	517	17	,	,	PUNCT
cblr-1707	517	18	https://www.federalreserve.gov/newsevents/pressreleases/monetary201409	https://www.federalreserve.gov/newsevents/pressreleases/monetary201409	PROPN
cblr-1707	517	19	17c.htm	17c.htm	NUM
cblr-1707	517	20	[	[	X
cblr-1707	517	21	https://perma.cc/avw3-h3fd	https://perma.cc/avw3-h3fd	PROPN
cblr-1707	517	22	]	]	PUNCT
cblr-1707	517	23	.	.	PUNCT
cblr-1707	518	1	76	76	NUM
cblr-1707	519	1	i	i	PRON
cblr-1707	519	2	d.	d.	PROPN
cblr-1707	519	3	;	;	PUNCT
cblr-1707	519	4	see	see	VERB
cblr-1707	519	5	also	also	ADV
cblr-1707	519	6	ben	ben	PROPN
cblr-1707	519	7	s.	s.	PROPN
cblr-1707	519	8	bernanke	bernanke	PROPN
cblr-1707	519	9	,	,	PUNCT
cblr-1707	519	10	shrinking	shrink	VERB
cblr-1707	519	11	the	the	DET
cblr-1707	519	12	fed	fed	PROPN
cblr-1707	519	13	’s	’s	PART
cblr-1707	519	14	balance	balance	NOUN
cblr-1707	519	15	sheet	sheet	NOUN
cblr-1707	519	16	,	,	PUNCT
cblr-1707	519	17	brookings	brookings	PROPN
cblr-1707	519	18	(	(	PUNCT
cblr-1707	519	19	jan	jan	PROPN
cblr-1707	519	20	.	.	PROPN
cblr-1707	519	21	26	26	NUM
cblr-1707	519	22	,	,	PUNCT
cblr-1707	519	23	2017	2017	NUM
cblr-1707	519	24	)	)	PUNCT
cblr-1707	519	25	,	,	PUNCT
cblr-1707	519	26	https://www.brookings.edu/blog/benbernanke/2017/01/26/shrinking-the-feds-balance-sheet/	https://www.brookings.edu/blog/benbernanke/2017/01/26/shrinking-the-feds-balance-sheet/	X
cblr-1707	520	1	[	[	X
cblr-1707	520	2	https://perma.cc/wet2-f84e	https://perma.cc/wet2-f84e	X
cblr-1707	520	3	]	]	X
cblr-1707	520	4	(	(	PUNCT
cblr-1707	520	5	“	"	PUNCT
cblr-1707	520	6	in	in	ADP
cblr-1707	520	7	short	short	ADJ
cblr-1707	520	8	:	:	PUNCT
cblr-1707	520	9	rate	rate	NOUN
cblr-1707	520	10	increases	increase	NOUN
cblr-1707	520	11	first	first	ADV
cblr-1707	520	12	,	,	PUNCT
cblr-1707	520	13	balance	balance	NOUN
cblr-1707	520	14	sheet	sheet	NOUN
cblr-1707	520	15	reduction	reduction	NOUN
cblr-1707	520	16	later	later	ADV
cblr-1707	520	17	.	.	PUNCT
cblr-1707	520	18	”	"	PUNCT
cblr-1707	520	19	)	)	PUNCT
cblr-1707	520	20	.	.	PUNCT
cblr-1707	521	1	77	77	NUM
cblr-1707	521	2	technically	technically	ADV
cblr-1707	521	3	,	,	PUNCT
cblr-1707	521	4	there	there	PRON
cblr-1707	521	5	are	be	VERB
cblr-1707	521	6	two	two	NUM
cblr-1707	521	7	types	type	NOUN
cblr-1707	521	8	of	of	ADP
cblr-1707	521	9	administered	administer	VERB
cblr-1707	521	10	rates	rate	NOUN
cblr-1707	521	11	:	:	PUNCT
cblr-1707	521	12	floor	floor	NOUN
cblr-1707	521	13	rates	rate	NOUN
cblr-1707	521	14	and	and	CCONJ
cblr-1707	521	15	ceiling	ceiling	NOUN
cblr-1707	521	16	rates	rate	NOUN
cblr-1707	521	17	.	.	PUNCT
cblr-1707	522	1	because	because	SCONJ
cblr-1707	522	2	floor	floor	NOUN
cblr-1707	522	3	rates	rate	NOUN
cblr-1707	522	4	are	be	AUX
cblr-1707	522	5	much	much	ADV
cblr-1707	522	6	more	more	ADV
cblr-1707	522	7	important	important	ADJ
cblr-1707	522	8	than	than	ADP
cblr-1707	522	9	ceiling	ceiling	NOUN
cblr-1707	522	10	rates	rate	NOUN
cblr-1707	522	11	in	in	ADP
cblr-1707	522	12	the	the	DET
cblr-1707	522	13	current	current	ADJ
cblr-1707	522	14	environment	environment	NOUN
cblr-1707	522	15	,	,	PUNCT
cblr-1707	522	16	“	"	PUNCT
cblr-1707	522	17	administered	administer	VERB
cblr-1707	522	18	rates	rate	NOUN
cblr-1707	522	19	”	"	PUNCT
cblr-1707	522	20	herein	herein	NOUN
cblr-1707	522	21	refers	refer	VERB
cblr-1707	522	22	only	only	ADV
cblr-1707	522	23	to	to	ADP
cblr-1707	522	24	floor	floor	NOUN
cblr-1707	522	25	rates	rate	NOUN
cblr-1707	522	26	.	.	PUNCT
cblr-1707	523	1	a	a	DET
cblr-1707	523	2	ceiling	ceiling	NOUN
cblr-1707	523	3	rate	rate	NOUN
cblr-1707	523	4	is	be	AUX
cblr-1707	523	5	a	a	DET
cblr-1707	523	6	rate	rate	NOUN
cblr-1707	523	7	that	that	PRON
cblr-1707	523	8	the	the	DET
cblr-1707	523	9	central	central	ADJ
cblr-1707	523	10	bank	bank	NOUN
cblr-1707	523	11	charges	charge	NOUN
cblr-1707	523	12	for	for	ADP
cblr-1707	523	13	loans	loan	NOUN
cblr-1707	523	14	of	of	ADP
cblr-1707	523	15	base	base	ADJ
cblr-1707	523	16	money	money	NOUN
cblr-1707	523	17	,	,	PUNCT
cblr-1707	523	18	also	also	ADV
cblr-1707	523	19	known	know	VERB
cblr-1707	523	20	as	as	ADP
cblr-1707	523	21	a	a	DET
cblr-1707	523	22	discount	discount	NOUN
cblr-1707	523	23	rate	rate	NOUN
cblr-1707	523	24	.	.	PUNCT
cblr-1707	524	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	524	2	no	no	NOUN
cblr-1707	524	3	.	.	PUNCT
cblr-1707	525	1	3:757	3:757	NUM
cblr-1707	525	2	]	]	X
cblr-1707	525	3	money	money	NOUN
cblr-1707	525	4	as	as	SCONJ
cblr-1707	525	5	infrastructure	infrastructure	NOUN
cblr-1707	525	6	787	787	NUM
cblr-1707	525	7	not	not	PART
cblr-1707	525	8	depend	depend	VERB
cblr-1707	525	9	on	on	ADP
cblr-1707	525	10	scarce	scarce	ADJ
cblr-1707	525	11	reserves	reserve	NOUN
cblr-1707	525	12	for	for	ADP
cblr-1707	525	13	their	their	PRON
cblr-1707	525	14	efficacy	efficacy	NOUN
cblr-1707	525	15	.	.	PUNCT
cblr-1707	526	1	on	on	ADP
cblr-1707	526	2	the	the	DET
cblr-1707	526	3	contrary	contrary	NOUN
cblr-1707	526	4	,	,	PUNCT
cblr-1707	526	5	i	i	PRON
cblr-1707	526	6	will	will	AUX
cblr-1707	526	7	argue	argue	VERB
cblr-1707	526	8	below	below	ADP
cblr-1707	526	9	that	that	SCONJ
cblr-1707	526	10	they	they	PRON
cblr-1707	526	11	may	may	AUX
cblr-1707	526	12	very	very	ADV
cblr-1707	526	13	well	well	ADV
cblr-1707	526	14	require	require	VERB
cblr-1707	526	15	the	the	DET
cblr-1707	526	16	opposite	opposite	ADJ
cblr-1707	526	17	:	:	PUNCT
cblr-1707	526	18	reserve	reserve	NOUN
cblr-1707	526	19	abundance	abundance	PROPN
cblr-1707	526	20	.	.	PUNCT
cblr-1707	527	1	the	the	DET
cblr-1707	527	2	most	most	ADV
cblr-1707	527	3	important	important	ADJ
cblr-1707	527	4	administered	administer	VERB
cblr-1707	527	5	rate	rate	NOUN
cblr-1707	527	6	is	be	AUX
cblr-1707	527	7	the	the	DET
cblr-1707	527	8	interest	interest	NOUN
cblr-1707	527	9	rate	rate	NOUN
cblr-1707	527	10	the	the	DET
cblr-1707	527	11	central	central	ADJ
cblr-1707	527	12	bank	bank	NOUN
cblr-1707	527	13	pays	pay	VERB
cblr-1707	527	14	on	on	ADP
cblr-1707	527	15	commercial	commercial	ADJ
cblr-1707	527	16	banks	bank	NOUN
cblr-1707	527	17	’	'	PUNCT
cblr-1707	527	18	reserve	reserve	NOUN
cblr-1707	527	19	balances	balance	NOUN
cblr-1707	527	20	.	.	PUNCT
cblr-1707	528	1	these	these	DET
cblr-1707	528	2	interest	interest	NOUN
cblr-1707	528	3	payments	payment	NOUN
cblr-1707	528	4	are	be	AUX
cblr-1707	528	5	called	call	VERB
cblr-1707	528	6	“	"	PUNCT
cblr-1707	528	7	interest	interest	NOUN
cblr-1707	528	8	on	on	ADP
cblr-1707	528	9	reserves	reserve	NOUN
cblr-1707	528	10	,	,	PUNCT
cblr-1707	528	11	”	"	PUNCT
cblr-1707	528	12	consisting	consist	VERB
cblr-1707	528	13	of	of	ADP
cblr-1707	528	14	“	"	PUNCT
cblr-1707	528	15	interest	interest	NOUN
cblr-1707	528	16	on	on	ADP
cblr-1707	528	17	required	required	ADJ
cblr-1707	528	18	reserves	reserve	NOUN
cblr-1707	528	19	”	"	PUNCT
cblr-1707	528	20	(	(	PUNCT
cblr-1707	528	21	“	"	PUNCT
cblr-1707	528	22	iorr	iorr	NOUN
cblr-1707	528	23	”	"	PUNCT
cblr-1707	528	24	)	)	PUNCT
cblr-1707	528	25	and	and	CCONJ
cblr-1707	528	26	“	"	PUNCT
cblr-1707	528	27	interest	interest	NOUN
cblr-1707	528	28	on	on	ADP
cblr-1707	528	29	excess	excess	ADJ
cblr-1707	528	30	reserves	reserve	NOUN
cblr-1707	528	31	”	"	PUNCT
cblr-1707	528	32	(	(	PUNCT
cblr-1707	528	33	“	"	PUNCT
cblr-1707	528	34	ioer	ioer	NOUN
cblr-1707	528	35	”	"	PUNCT
cblr-1707	528	36	)	)	PUNCT
cblr-1707	528	37	.	.	PUNCT
cblr-1707	529	1	iorr	iorr	PROPN
cblr-1707	529	2	and	and	CCONJ
cblr-1707	529	3	ioer	ioer	PROPN
cblr-1707	529	4	serve	serve	VERB
cblr-1707	529	5	quite	quite	ADV
cblr-1707	529	6	different	different	ADJ
cblr-1707	529	7	stated	state	VERB
cblr-1707	529	8	purposes	purpose	NOUN
cblr-1707	529	9	.	.	PUNCT
cblr-1707	530	1	according	accord	VERB
cblr-1707	530	2	to	to	ADP
cblr-1707	530	3	the	the	DET
cblr-1707	530	4	federal	federal	PROPN
cblr-1707	530	5	reserve	reserve	PROPN
cblr-1707	530	6	,	,	PUNCT
cblr-1707	530	7	iorr	iorr	PROPN
cblr-1707	530	8	“	"	PUNCT
cblr-1707	530	9	is	be	AUX
cblr-1707	530	10	intended	intend	VERB
cblr-1707	530	11	to	to	PART
cblr-1707	530	12	eliminate	eliminate	VERB
cblr-1707	530	13	effectively	effectively	ADV
cblr-1707	530	14	the	the	DET
cblr-1707	530	15	implicit	implicit	ADJ
cblr-1707	530	16	tax	tax	NOUN
cblr-1707	530	17	that	that	PRON
cblr-1707	530	18	reserve	reserve	NOUN
cblr-1707	530	19	requirements	requirement	NOUN
cblr-1707	530	20	.	.	PUNCT
cblr-1707	530	21	.	.	PUNCT
cblr-1707	530	22	.	.	PUNCT
cblr-1707	531	1	impose	impose	VERB
cblr-1707	531	2	on	on	ADP
cblr-1707	531	3	depository	depository	NOUN
cblr-1707	531	4	institutions	institution	NOUN
cblr-1707	531	5	.	.	PUNCT
cblr-1707	532	1	”78	”78	PUNCT
cblr-1707	532	2	(	(	PUNCT
cblr-1707	532	3	this	this	DET
cblr-1707	532	4	“	"	PUNCT
cblr-1707	532	5	tax	tax	NOUN
cblr-1707	532	6	”	"	PUNCT
cblr-1707	532	7	is	be	AUX
cblr-1707	532	8	discussed	discuss	VERB
cblr-1707	532	9	further	far	ADV
cblr-1707	532	10	below	below	ADV
cblr-1707	532	11	.	.	PUNCT
cblr-1707	532	12	)	)	PUNCT
cblr-1707	533	1	by	by	ADP
cblr-1707	533	2	contrast	contrast	NOUN
cblr-1707	533	3	,	,	PUNCT
cblr-1707	533	4	ioer	ioer	NOUN
cblr-1707	533	5	“	"	PUNCT
cblr-1707	533	6	gives	give	VERB
cblr-1707	533	7	the	the	DET
cblr-1707	533	8	federal	federal	PROPN
cblr-1707	533	9	reserve	reserve	PROPN
cblr-1707	533	10	an	an	DET
cblr-1707	533	11	additional	additional	ADJ
cblr-1707	533	12	tool	tool	NOUN
cblr-1707	533	13	for	for	ADP
cblr-1707	533	14	the	the	DET
cblr-1707	533	15	conduct	conduct	NOUN
cblr-1707	533	16	of	of	ADP
cblr-1707	533	17	monetary	monetary	ADJ
cblr-1707	533	18	policy	policy	NOUN
cblr-1707	533	19	.	.	PUNCT
cblr-1707	534	1	”79	”79	PROPN
cblr-1707	534	2	indeed	indeed	ADV
cblr-1707	534	3	,	,	PUNCT
cblr-1707	534	4	ioer	ioer	PROPN
cblr-1707	534	5	has	have	AUX
cblr-1707	534	6	become	become	VERB
cblr-1707	534	7	the	the	DET
cblr-1707	534	8	central	central	ADJ
cblr-1707	534	9	lever	lever	NOUN
cblr-1707	534	10	for	for	ADP
cblr-1707	534	11	u.s	u.s	PROPN
cblr-1707	534	12	.	.	PROPN
cblr-1707	534	13	monetary	monetary	ADJ
cblr-1707	534	14	policy.80	policy.80	NOUN
cblr-1707	534	15	prior	prior	ADV
cblr-1707	534	16	to	to	ADP
cblr-1707	534	17	the	the	DET
cblr-1707	534	18	financial	financial	ADJ
cblr-1707	534	19	crisis	crisis	NOUN
cblr-1707	534	20	,	,	PUNCT
cblr-1707	534	21	the	the	DET
cblr-1707	534	22	federal	federal	PROPN
cblr-1707	534	23	reserve	reserve	PROPN
cblr-1707	534	24	lacked	lack	VERB
cblr-1707	534	25	the	the	DET
cblr-1707	534	26	legal	legal	ADJ
cblr-1707	534	27	authority	authority	NOUN
cblr-1707	534	28	to	to	PART
cblr-1707	534	29	pay	pay	VERB
cblr-1707	534	30	interest	interest	NOUN
cblr-1707	534	31	on	on	ADP
cblr-1707	534	32	reserves	reserve	NOUN
cblr-1707	534	33	.	.	PUNCT
cblr-1707	535	1	all	all	DET
cblr-1707	535	2	base	base	NOUN
cblr-1707	535	3	money	money	NOUN
cblr-1707	535	4	was	be	AUX
cblr-1707	535	5	noninterest	noninterest	ADV
cblr-1707	535	6	-	-	PUNCT
cblr-1707	535	7	bearing	bearing	NOUN
cblr-1707	535	8	.	.	PUNCT
cblr-1707	536	1	in	in	ADP
cblr-1707	536	2	october	october	PROPN
cblr-1707	536	3	2008	2008	NUM
cblr-1707	536	4	,	,	PUNCT
cblr-1707	536	5	congress	congress	PROPN
cblr-1707	536	6	granted	grant	VERB
cblr-1707	536	7	the	the	DET
cblr-1707	536	8	federal	federal	PROPN
cblr-1707	536	9	reserve	reserve	PROPN
cblr-1707	536	10	the	the	DET
cblr-1707	536	11	authority	authority	NOUN
cblr-1707	536	12	to	to	PART
cblr-1707	536	13	pay	pay	VERB
cblr-1707	536	14	such	such	ADJ
cblr-1707	536	15	interest	interest	NOUN
cblr-1707	536	16	,	,	PUNCT
cblr-1707	536	17	which	which	PRON
cblr-1707	536	18	it	it	PRON
cblr-1707	536	19	78	78	NUM
cblr-1707	536	20	bd	bd	NOUN
cblr-1707	536	21	.	.	PROPN
cblr-1707	536	22	of	of	ADP
cblr-1707	536	23	governors	governor	NOUN
cblr-1707	536	24	of	of	ADP
cblr-1707	536	25	the	the	DET
cblr-1707	536	26	fed	fed	PROPN
cblr-1707	536	27	.	.	PUNCT
cblr-1707	537	1	reserve	reserve	PROPN
cblr-1707	537	2	sys	sys	PROPN
cblr-1707	537	3	.	.	PROPN
cblr-1707	537	4	,	,	PUNCT
cblr-1707	537	5	interest	interest	NOUN
cblr-1707	537	6	on	on	ADP
cblr-1707	537	7	required	require	VERB
cblr-1707	537	8	balances	balance	NOUN
cblr-1707	537	9	and	and	CCONJ
cblr-1707	537	10	excess	excess	ADJ
cblr-1707	537	11	balances	balance	NOUN
cblr-1707	537	12	,	,	PUNCT
cblr-1707	537	13	fed	fed	PROPN
cblr-1707	537	14	.	.	PUNCT
cblr-1707	538	1	res	re	NOUN
cblr-1707	538	2	.	.	PROPN
cblr-1707	538	3	,	,	PUNCT
cblr-1707	538	4	https://www.federalreserve.gov/monetarypolicy/reqresbalances.htm	https://www.federalreserve.gov/monetarypolicy/reqresbalances.htm	PROPN
cblr-1707	539	1	[	[	X
cblr-1707	539	2	https://perma.cc/4ldd-e95	https://perma.cc/4ldd-e95	NUM
cblr-1707	539	3	m	m	NOUN
cblr-1707	539	4	]	]	X
cblr-1707	539	5	(	(	PUNCT
cblr-1707	539	6	last	last	ADJ
cblr-1707	539	7	updated	update	VERB
cblr-1707	539	8	sept	sept	PROPN
cblr-1707	539	9	.	.	PROPN
cblr-1707	539	10	13	13	NUM
cblr-1707	539	11	,	,	PUNCT
cblr-1707	539	12	2018	2018	NUM
cblr-1707	539	13	)	)	PUNCT
cblr-1707	539	14	;	;	PUNCT
cblr-1707	539	15	press	press	NOUN
cblr-1707	539	16	release	release	NOUN
cblr-1707	539	17	,	,	PUNCT
cblr-1707	539	18	bd	bd	PROPN
cblr-1707	539	19	.	.	PROPN
cblr-1707	539	20	of	of	ADP
cblr-1707	539	21	governors	governor	NOUN
cblr-1707	539	22	of	of	ADP
cblr-1707	539	23	the	the	DET
cblr-1707	539	24	fed	fed	PROPN
cblr-1707	539	25	.	.	PUNCT
cblr-1707	539	26	reserve	reserve	PROPN
cblr-1707	539	27	sys	sys	PROPN
cblr-1707	539	28	.	.	PROPN
cblr-1707	539	29	,	,	PUNCT
cblr-1707	539	30	board	board	NOUN
cblr-1707	539	31	announces	announce	VERB
cblr-1707	539	32	that	that	SCONJ
cblr-1707	539	33	it	it	PRON
cblr-1707	539	34	will	will	AUX
cblr-1707	539	35	begin	begin	VERB
cblr-1707	539	36	to	to	PART
cblr-1707	539	37	pay	pay	VERB
cblr-1707	539	38	interest	interest	NOUN
cblr-1707	539	39	on	on	ADP
cblr-1707	539	40	depository	depository	NOUN
cblr-1707	539	41	institutions	institution	NOUN
cblr-1707	539	42	’	'	PUNCT
cblr-1707	539	43	required	require	VERB
cblr-1707	539	44	and	and	CCONJ
cblr-1707	539	45	excess	excess	ADJ
cblr-1707	539	46	reserve	reserve	NOUN
cblr-1707	539	47	balances	balance	NOUN
cblr-1707	539	48	(	(	PUNCT
cblr-1707	539	49	oct	oct	PROPN
cblr-1707	539	50	.	.	PROPN
cblr-1707	539	51	6	6	NUM
cblr-1707	539	52	,	,	PUNCT
cblr-1707	539	53	2008	2008	NUM
cblr-1707	539	54	)	)	PUNCT
cblr-1707	539	55	,	,	PUNCT
cblr-1707	539	56	https://www.federalreserve.gov/newsevents/pressreleases/	https://www.federalreserve.gov/newsevents/pressreleases/	PROPN
cblr-1707	539	57	monetary20081006a.htm	monetary20081006a.htm	PROPN
cblr-1707	539	58	[	[	X
cblr-1707	539	59	https://perma.cc/dq9r-btn6	https://perma.cc/dq9r-btn6	X
cblr-1707	539	60	]	]	X
cblr-1707	539	61	(	(	PUNCT
cblr-1707	539	62	“	"	PUNCT
cblr-1707	539	63	paying	pay	VERB
cblr-1707	539	64	interest	interest	NOUN
cblr-1707	539	65	on	on	ADP
cblr-1707	539	66	required	require	VERB
cblr-1707	539	67	reserve	reserve	NOUN
cblr-1707	539	68	balances	balance	NOUN
cblr-1707	539	69	should	should	AUX
cblr-1707	539	70	essentially	essentially	ADV
cblr-1707	539	71	eliminate	eliminate	VERB
cblr-1707	539	72	the	the	DET
cblr-1707	539	73	opportunity	opportunity	NOUN
cblr-1707	539	74	cost	cost	NOUN
cblr-1707	539	75	of	of	ADP
cblr-1707	539	76	holding	hold	VERB
cblr-1707	539	77	required	required	ADJ
cblr-1707	539	78	reserves	reserve	NOUN
cblr-1707	539	79	,	,	PUNCT
cblr-1707	539	80	promoting	promote	VERB
cblr-1707	539	81	efficiency	efficiency	NOUN
cblr-1707	539	82	in	in	ADP
cblr-1707	539	83	the	the	DET
cblr-1707	539	84	banking	banking	NOUN
cblr-1707	539	85	sector	sector	NOUN
cblr-1707	539	86	.	.	PUNCT
cblr-1707	539	87	”	"	PUNCT
cblr-1707	539	88	)	)	PUNCT
cblr-1707	539	89	.	.	PUNCT
cblr-1707	540	1	79	79	NUM
cblr-1707	540	2	bd	bd	NOUN
cblr-1707	540	3	.	.	PROPN
cblr-1707	540	4	of	of	ADP
cblr-1707	540	5	governors	governor	NOUN
cblr-1707	540	6	of	of	ADP
cblr-1707	540	7	the	the	DET
cblr-1707	540	8	fed	fed	PROPN
cblr-1707	540	9	.	.	PUNCT
cblr-1707	540	10	reserve	reserve	PROPN
cblr-1707	540	11	sys	sys	PROPN
cblr-1707	540	12	.	.	PROPN
cblr-1707	540	13	,	,	PUNCT
cblr-1707	540	14	interest	interest	NOUN
cblr-1707	540	15	on	on	ADP
cblr-1707	540	16	required	require	VERB
cblr-1707	540	17	balances	balance	NOUN
cblr-1707	540	18	and	and	CCONJ
cblr-1707	540	19	excess	excess	ADJ
cblr-1707	540	20	balances	balance	NOUN
cblr-1707	540	21	,	,	PUNCT
cblr-1707	540	22	fed	fed	PROPN
cblr-1707	540	23	.	.	PUNCT
cblr-1707	541	1	res	re	NOUN
cblr-1707	541	2	.	.	PROPN
cblr-1707	541	3	,	,	PUNCT
cblr-1707	541	4	https://www.federalreserve.gov/monetarypolicy/reqresbalances.htm	https://www.federalreserve.gov/monetarypolicy/reqresbalances.htm	PROPN
cblr-1707	542	1	[	[	X
cblr-1707	542	2	https://perma.cc/4ldd-e95	https://perma.cc/4ldd-e95	NUM
cblr-1707	542	3	m	m	NOUN
cblr-1707	542	4	]	]	X
cblr-1707	542	5	(	(	PUNCT
cblr-1707	542	6	last	last	ADJ
cblr-1707	542	7	update	update	NOUN
cblr-1707	542	8	sept	sept	PROPN
cblr-1707	542	9	.	.	PROPN
cblr-1707	542	10	13	13	NUM
cblr-1707	542	11	,	,	PUNCT
cblr-1707	542	12	2018	2018	NUM
cblr-1707	542	13	)	)	PUNCT
cblr-1707	542	14	.	.	PUNCT
cblr-1707	543	1	80	80	NUM
cblr-1707	543	2	see	see	VERB
cblr-1707	543	3	policy	policy	NOUN
cblr-1707	543	4	normalization	normalization	NOUN
cblr-1707	543	5	principles	principle	NOUN
cblr-1707	543	6	and	and	CCONJ
cblr-1707	543	7	plans	plan	NOUN
cblr-1707	543	8	,	,	PUNCT
cblr-1707	543	9	supra	supra	PROPN
cblr-1707	543	10	note	note	NOUN
cblr-1707	543	11	75	75	NUM
cblr-1707	543	12	(	(	PUNCT
cblr-1707	543	13	“	"	PUNCT
cblr-1707	543	14	during	during	ADP
cblr-1707	543	15	normalization	normalization	NOUN
cblr-1707	543	16	,	,	PUNCT
cblr-1707	543	17	the	the	DET
cblr-1707	543	18	federal	federal	PROPN
cblr-1707	543	19	reserve	reserve	PROPN
cblr-1707	543	20	intends	intend	VERB
cblr-1707	543	21	to	to	PART
cblr-1707	543	22	move	move	VERB
cblr-1707	543	23	the	the	DET
cblr-1707	543	24	federal	federal	ADJ
cblr-1707	543	25	funds	fund	NOUN
cblr-1707	543	26	rate	rate	NOUN
cblr-1707	543	27	into	into	ADP
cblr-1707	543	28	the	the	DET
cblr-1707	543	29	target	target	NOUN
cblr-1707	543	30	range	range	NOUN
cblr-1707	543	31	.	.	PUNCT
cblr-1707	543	32	.	.	PUNCT
cblr-1707	543	33	.	.	PUNCT
cblr-1707	544	1	primarily	primarily	ADV
cblr-1707	544	2	by	by	ADP
cblr-1707	544	3	adjusting	adjust	VERB
cblr-1707	544	4	the	the	DET
cblr-1707	544	5	interest	interest	NOUN
cblr-1707	544	6	rate	rate	NOUN
cblr-1707	544	7	it	it	PRON
cblr-1707	544	8	pays	pay	VERB
cblr-1707	544	9	on	on	ADP
cblr-1707	544	10	excess	excess	ADJ
cblr-1707	544	11	reserve	reserve	NOUN
cblr-1707	544	12	balances	balance	NOUN
cblr-1707	544	13	.	.	PUNCT
cblr-1707	544	14	”	"	PUNCT
cblr-1707	544	15	)	)	PUNCT
cblr-1707	544	16	.	.	PUNCT
cblr-1707	545	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	545	2	788	788	NUM
cblr-1707	545	3	columbia	columbia	PROPN
cblr-1707	545	4	business	business	NOUN
cblr-1707	545	5	law	law	NOUN
cblr-1707	545	6	review	review	NOUN
cblr-1707	545	7	[	[	X
cblr-1707	545	8	vol	vol	NOUN
cblr-1707	545	9	.	.	PUNCT
cblr-1707	545	10	2018	2018	NUM
cblr-1707	545	11	began	begin	VERB
cblr-1707	545	12	doing	do	VERB
cblr-1707	545	13	soon	soon	ADV
cblr-1707	545	14	thereafter.81	thereafter.81	PROPN
cblr-1707	545	15	when	when	SCONJ
cblr-1707	545	16	the	the	DET
cblr-1707	545	17	fed	fed	PROPN
cblr-1707	545	18	moved	move	VERB
cblr-1707	545	19	to	to	ADP
cblr-1707	545	20	zirp	zirp	NOUN
cblr-1707	545	21	in	in	ADP
cblr-1707	545	22	december	december	PROPN
cblr-1707	545	23	2008	2008	NUM
cblr-1707	545	24	—	—	PUNCT
cblr-1707	545	25	adopting	adopt	VERB
cblr-1707	545	26	a	a	DET
cblr-1707	545	27	federal	federal	ADJ
cblr-1707	545	28	funds	fund	NOUN
cblr-1707	545	29	target	target	NOUN
cblr-1707	545	30	range	range	NOUN
cblr-1707	545	31	of	of	ADP
cblr-1707	545	32	0.00	0.00	NUM
cblr-1707	545	33	%	%	NOUN
cblr-1707	545	34	to	to	PART
cblr-1707	545	35	0.25%—it	0.25%—it	NOUN
cblr-1707	545	36	simultaneously	simultaneously	ADV
cblr-1707	545	37	set	set	VERB
cblr-1707	545	38	the	the	DET
cblr-1707	545	39	ioer	ioer	NOUN
cblr-1707	545	40	rate	rate	NOUN
cblr-1707	545	41	to	to	ADP
cblr-1707	545	42	0.25	0.25	NUM
cblr-1707	545	43	%	%	NOUN
cblr-1707	545	44	,	,	PUNCT
cblr-1707	545	45	the	the	DET
cblr-1707	545	46	upper	upper	ADJ
cblr-1707	545	47	end	end	NOUN
cblr-1707	545	48	of	of	ADP
cblr-1707	545	49	the	the	DET
cblr-1707	545	50	range.82	range.82	NOUN
cblr-1707	545	51	the	the	DET
cblr-1707	545	52	ioer	ioer	NOUN
cblr-1707	545	53	rate	rate	NOUN
cblr-1707	545	54	remained	remain	VERB
cblr-1707	545	55	there	there	ADV
cblr-1707	545	56	throughout	throughout	ADP
cblr-1707	545	57	the	the	DET
cblr-1707	545	58	seven	seven	NUM
cblr-1707	545	59	years	year	NOUN
cblr-1707	545	60	of	of	ADP
cblr-1707	545	61	zirp.83	zirp.83	PROPN
cblr-1707	545	62	when	when	SCONJ
cblr-1707	545	63	the	the	DET
cblr-1707	545	64	federal	federal	PROPN
cblr-1707	545	65	reserve	reserve	PROPN
cblr-1707	545	66	finally	finally	ADV
cblr-1707	545	67	ended	end	VERB
cblr-1707	545	68	zirp	zirp	NOUN
cblr-1707	545	69	(	(	PUNCT
cblr-1707	545	70	so	so	ADV
cblr-1707	545	71	-	-	PUNCT
cblr-1707	545	72	called	call	VERB
cblr-1707	545	73	“	"	PUNCT
cblr-1707	545	74	liftoff	liftoff	NOUN
cblr-1707	545	75	”	"	PUNCT
cblr-1707	545	76	)	)	PUNCT
cblr-1707	545	77	in	in	ADP
cblr-1707	545	78	december	december	PROPN
cblr-1707	545	79	2015	2015	NUM
cblr-1707	545	80	—	—	PUNCT
cblr-1707	545	81	raising	raise	VERB
cblr-1707	545	82	the	the	DET
cblr-1707	545	83	federal	federal	ADJ
cblr-1707	545	84	funds	fund	NOUN
cblr-1707	545	85	target	target	VERB
cblr-1707	545	86	to	to	ADP
cblr-1707	545	87	a	a	DET
cblr-1707	545	88	range	range	NOUN
cblr-1707	545	89	of	of	ADP
cblr-1707	545	90	0.25	0.25	NUM
cblr-1707	545	91	%	%	NOUN
cblr-1707	545	92	to	to	PART
cblr-1707	545	93	0.50%—it	0.50%—it	VERB
cblr-1707	545	94	raised	raise	VERB
cblr-1707	545	95	the	the	DET
cblr-1707	545	96	ioer	ioer	NOUN
cblr-1707	545	97	rate	rate	NOUN
cblr-1707	545	98	to	to	ADP
cblr-1707	545	99	0.50%.84	0.50%.84	NOUN
cblr-1707	545	100	when	when	SCONJ
cblr-1707	545	101	it	it	PRON
cblr-1707	545	102	again	again	ADV
cblr-1707	545	103	raised	raise	VERB
cblr-1707	545	104	rates	rate	NOUN
cblr-1707	545	105	in	in	ADP
cblr-1707	545	106	december	december	PROPN
cblr-1707	545	107	2016	2016	NUM
cblr-1707	545	108	,	,	PUNCT
cblr-1707	545	109	this	this	DET
cblr-1707	545	110	time	time	NOUN
cblr-1707	545	111	to	to	ADP
cblr-1707	545	112	a	a	DET
cblr-1707	545	113	target	target	NOUN
cblr-1707	545	114	range	range	NOUN
cblr-1707	545	115	of	of	ADP
cblr-1707	545	116	0.50	0.50	NUM
cblr-1707	545	117	%	%	NOUN
cblr-1707	545	118	to	to	PART
cblr-1707	545	119	0.75	0.75	NUM
cblr-1707	545	120	%	%	NOUN
cblr-1707	545	121	,	,	PUNCT
cblr-1707	545	122	it	it	PRON
cblr-1707	545	123	raised	raise	VERB
cblr-1707	545	124	the	the	DET
cblr-1707	545	125	ioer	ioer	NOUN
cblr-1707	545	126	rate	rate	NOUN
cblr-1707	545	127	to	to	PART
cblr-1707	545	128	0.75%.85	0.75%.85	VERB
cblr-1707	545	129	the	the	DET
cblr-1707	545	130	pattern	pattern	NOUN
cblr-1707	545	131	has	have	AUX
cblr-1707	545	132	continued	continue	VERB
cblr-1707	545	133	:	:	PUNCT
cblr-1707	545	134	with	with	ADP
cblr-1707	545	135	each	each	DET
cblr-1707	545	136	subsequent	subsequent	ADJ
cblr-1707	545	137	increase	increase	NOUN
cblr-1707	545	138	in	in	ADP
cblr-1707	545	139	the	the	DET
cblr-1707	545	140	federal	federal	ADJ
cblr-1707	545	141	funds	fund	NOUN
cblr-1707	545	142	target	target	NOUN
cblr-1707	545	143	range	range	NOUN
cblr-1707	545	144	(	(	PUNCT
cblr-1707	545	145	2.00	2.00	NUM
cblr-1707	545	146	%	%	NOUN
cblr-1707	545	147	to	to	PART
cblr-1707	545	148	2.25	2.25	NUM
cblr-1707	545	149	%	%	NOUN
cblr-1707	545	150	at	at	ADP
cblr-1707	545	151	this	this	DET
cblr-1707	545	152	writing86	writing86	NOUN
cblr-1707	545	153	)	)	PUNCT
cblr-1707	545	154	,	,	PUNCT
cblr-1707	545	155	81	81	NUM
cblr-1707	545	156	in	in	ADP
cblr-1707	545	157	2006	2006	NUM
cblr-1707	545	158	,	,	PUNCT
cblr-1707	545	159	congress	congress	PROPN
cblr-1707	545	160	authorized	authorize	VERB
cblr-1707	545	161	the	the	DET
cblr-1707	545	162	federal	federal	PROPN
cblr-1707	545	163	reserve	reserve	PROPN
cblr-1707	545	164	to	to	PART
cblr-1707	545	165	begin	begin	VERB
cblr-1707	545	166	paying	pay	VERB
cblr-1707	545	167	interest	interest	NOUN
cblr-1707	545	168	on	on	ADP
cblr-1707	545	169	reserves	reserve	NOUN
cblr-1707	545	170	beginning	begin	VERB
cblr-1707	545	171	october	october	PROPN
cblr-1707	545	172	1	1	NUM
cblr-1707	545	173	,	,	PUNCT
cblr-1707	545	174	2011	2011	NUM
cblr-1707	545	175	.	.	PUNCT
cblr-1707	546	1	see	see	VERB
cblr-1707	546	2	financial	financial	ADJ
cblr-1707	546	3	services	service	NOUN
cblr-1707	546	4	regulatory	regulatory	ADJ
cblr-1707	546	5	relief	relief	NOUN
cblr-1707	546	6	act	act	NOUN
cblr-1707	546	7	of	of	ADP
cblr-1707	546	8	2006	2006	NUM
cblr-1707	546	9	,	,	PUNCT
cblr-1707	546	10	pub	pub	NOUN
cblr-1707	546	11	.	.	PUNCT
cblr-1707	547	1	l.	l.	PROPN
cblr-1707	547	2	no	no	INTJ
cblr-1707	547	3	.	.	PROPN
cblr-1707	548	1	109	109	NUM
cblr-1707	548	2	-	-	SYM
cblr-1707	548	3	351	351	NUM
cblr-1707	548	4	,	,	PUNCT
cblr-1707	548	5	§	§	PROPN
cblr-1707	548	6	§	§	PROPN
cblr-1707	548	7	201	201	NUM
cblr-1707	548	8	,	,	PUNCT
cblr-1707	548	9	203	203	NUM
cblr-1707	548	10	,	,	PUNCT
cblr-1707	548	11	120	120	NUM
cblr-1707	548	12	stat	stat	NOUN
cblr-1707	548	13	.	.	PUNCT
cblr-1707	549	1	1966	1966	NUM
cblr-1707	549	2	,	,	PUNCT
cblr-1707	549	3	1968–69	1968–69	NUM
cblr-1707	549	4	(	(	PUNCT
cblr-1707	549	5	2006	2006	NUM
cblr-1707	549	6	)	)	PUNCT
cblr-1707	549	7	.	.	PUNCT
cblr-1707	550	1	the	the	DET
cblr-1707	550	2	emergency	emergency	NOUN
cblr-1707	550	3	economic	economic	ADJ
cblr-1707	550	4	stabilization	stabilization	NOUN
cblr-1707	550	5	act	act	NOUN
cblr-1707	550	6	of	of	ADP
cblr-1707	550	7	2008	2008	NUM
cblr-1707	550	8	accelerated	accelerate	VERB
cblr-1707	550	9	the	the	DET
cblr-1707	550	10	effective	effective	ADJ
cblr-1707	550	11	date	date	NOUN
cblr-1707	550	12	to	to	ADP
cblr-1707	550	13	october	october	PROPN
cblr-1707	550	14	1	1	NUM
cblr-1707	550	15	,	,	PUNCT
cblr-1707	550	16	2008	2008	NUM
cblr-1707	550	17	.	.	PUNCT
cblr-1707	551	1	see	see	VERB
cblr-1707	551	2	pub	pub	NOUN
cblr-1707	551	3	.	.	PUNCT
cblr-1707	552	1	l.	l.	PROPN
cblr-1707	552	2	no	no	INTJ
cblr-1707	552	3	.	.	PROPN
cblr-1707	553	1	110	110	NUM
cblr-1707	553	2	-	-	SYM
cblr-1707	553	3	343	343	NUM
cblr-1707	553	4	,	,	PUNCT
cblr-1707	553	5	§	§	PROPN
cblr-1707	553	6	128	128	NUM
cblr-1707	553	7	,	,	PUNCT
cblr-1707	553	8	122	122	NUM
cblr-1707	553	9	stat	stat	NOUN
cblr-1707	553	10	.	.	PUNCT
cblr-1707	554	1	3765	3765	NUM
cblr-1707	554	2	,	,	PUNCT
cblr-1707	554	3	3796	3796	NUM
cblr-1707	554	4	(	(	PUNCT
cblr-1707	554	5	2008	2008	NUM
cblr-1707	554	6	)	)	PUNCT
cblr-1707	554	7	.	.	PUNCT
cblr-1707	555	1	82	82	NUM
cblr-1707	555	2	federal	federal	PROPN
cblr-1707	555	3	reserve	reserve	PROPN
cblr-1707	555	4	economic	economic	ADJ
cblr-1707	555	5	data	datum	NOUN
cblr-1707	555	6	(	(	PUNCT
cblr-1707	555	7	“	"	PUNCT
cblr-1707	555	8	fred	fred	PROPN
cblr-1707	555	9	”	"	PUNCT
cblr-1707	555	10	)	)	PUNCT
cblr-1707	555	11	,	,	PUNCT
cblr-1707	555	12	federal	federal	ADJ
cblr-1707	555	13	funds	fund	NOUN
cblr-1707	555	14	target	target	NOUN
cblr-1707	555	15	range	range	NOUN
cblr-1707	555	16	–	–	PUNCT
cblr-1707	555	17	lower	low	ADJ
cblr-1707	555	18	limit	limit	NOUN
cblr-1707	555	19	(	(	PUNCT
cblr-1707	555	20	“	"	PUNCT
cblr-1707	555	21	dfedtarl	dfedtarl	PROPN
cblr-1707	555	22	”	"	PUNCT
cblr-1707	555	23	)	)	PUNCT
cblr-1707	555	24	(	(	PUNCT
cblr-1707	555	25	2008	2008	NUM
cblr-1707	555	26	)	)	PUNCT
cblr-1707	555	27	,	,	PUNCT
cblr-1707	555	28	fed	fed	PROPN
cblr-1707	555	29	.	.	PUNCT
cblr-1707	556	1	res	res	PROPN
cblr-1707	556	2	.	.	PUNCT
cblr-1707	556	3	bank	bank	PROPN
cblr-1707	556	4	of	of	ADP
cblr-1707	556	5	st	st	PROPN
cblr-1707	556	6	.	.	PROPN
cblr-1707	556	7	louis	louis	PROPN
cblr-1707	556	8	,	,	PUNCT
cblr-1707	556	9	https://fred.stlouisfed.org/series/dfedtarl	https://fred.stlouisfed.org/series/dfedtarl	PROPN
cblr-1707	556	10	[	[	X
cblr-1707	556	11	https://perma.cc/6lpgszqw	https://perma.cc/6lpgszqw	X
cblr-1707	556	12	]	]	X
cblr-1707	556	13	;	;	PUNCT
cblr-1707	556	14	federal	federal	PROPN
cblr-1707	556	15	reserve	reserve	PROPN
cblr-1707	556	16	economic	economic	ADJ
cblr-1707	556	17	data	datum	NOUN
cblr-1707	556	18	(	(	PUNCT
cblr-1707	556	19	“	"	PUNCT
cblr-1707	556	20	fred	fred	PROPN
cblr-1707	556	21	”	"	PUNCT
cblr-1707	556	22	)	)	PUNCT
cblr-1707	556	23	,	,	PUNCT
cblr-1707	556	24	federal	federal	ADJ
cblr-1707	556	25	funds	fund	NOUN
cblr-1707	556	26	target	target	NOUN
cblr-1707	556	27	range	range	NOUN
cblr-1707	556	28	–	–	PUNCT
cblr-1707	556	29	upper	upper	ADJ
cblr-1707	556	30	limit	limit	NOUN
cblr-1707	556	31	(	(	PUNCT
cblr-1707	556	32	“	"	PUNCT
cblr-1707	556	33	dfedtaru	dfedtaru	NOUN
cblr-1707	556	34	”	"	PUNCT
cblr-1707	556	35	)	)	PUNCT
cblr-1707	556	36	(	(	PUNCT
cblr-1707	556	37	2008	2008	NUM
cblr-1707	556	38	)	)	PUNCT
cblr-1707	556	39	,	,	PUNCT
cblr-1707	556	40	fed	fed	PROPN
cblr-1707	556	41	.	.	PUNCT
cblr-1707	557	1	res	res	PROPN
cblr-1707	557	2	.	.	PUNCT
cblr-1707	557	3	bank	bank	PROPN
cblr-1707	557	4	of	of	ADP
cblr-1707	557	5	st	st	PROPN
cblr-1707	557	6	.	.	PROPN
cblr-1707	557	7	louis	louis	PROPN
cblr-1707	557	8	,	,	PUNCT
cblr-1707	557	9	https://fred.stlouisfed.org/series/dfedtaru	https://fred.stlouisfed.org/series/dfedtaru	NOUN
cblr-1707	558	1	[	[	X
cblr-1707	558	2	https://perma.cc/qsd4sqrz	https://perma.cc/qsd4sqrz	X
cblr-1707	558	3	]	]	X
cblr-1707	558	4	;	;	PUNCT
cblr-1707	558	5	federal	federal	PROPN
cblr-1707	558	6	reserve	reserve	PROPN
cblr-1707	558	7	economic	economic	ADJ
cblr-1707	558	8	data	datum	NOUN
cblr-1707	558	9	(	(	PUNCT
cblr-1707	558	10	“	"	PUNCT
cblr-1707	558	11	fred	fred	PROPN
cblr-1707	558	12	”	"	PUNCT
cblr-1707	558	13	)	)	PUNCT
cblr-1707	558	14	,	,	PUNCT
cblr-1707	558	15	interest	interest	NOUN
cblr-1707	558	16	rate	rate	NOUN
cblr-1707	558	17	on	on	ADP
cblr-1707	558	18	excess	excess	ADJ
cblr-1707	558	19	reserves	reserve	NOUN
cblr-1707	558	20	(	(	PUNCT
cblr-1707	558	21	“	"	PUNCT
cblr-1707	558	22	ioer	ioer	NOUN
cblr-1707	558	23	”	"	PUNCT
cblr-1707	558	24	)	)	PUNCT
cblr-1707	558	25	(	(	PUNCT
cblr-1707	558	26	2008	2008	NUM
cblr-1707	558	27	)	)	PUNCT
cblr-1707	558	28	,	,	PUNCT
cblr-1707	558	29	fed	fed	PROPN
cblr-1707	558	30	.	.	PUNCT
cblr-1707	559	1	res	res	PROPN
cblr-1707	559	2	.	.	PUNCT
cblr-1707	559	3	bank	bank	PROPN
cblr-1707	559	4	of	of	ADP
cblr-1707	559	5	st	st	PROPN
cblr-1707	559	6	.	.	PROPN
cblr-1707	559	7	louis	louis	PROPN
cblr-1707	559	8	,	,	PUNCT
cblr-1707	559	9	https://fred.stlouisfed.org/series/ioer	https://fred.stlouisfed.org/series/ioer	NOUN
cblr-1707	560	1	[	[	X
cblr-1707	560	2	https://perma.cc/u2yy-8url	https://perma.cc/u2yy-8url	X
cblr-1707	560	3	]	]	PUNCT
cblr-1707	560	4	.	.	PUNCT
cblr-1707	561	1	83	83	NUM
cblr-1707	561	2	federal	federal	PROPN
cblr-1707	561	3	reserve	reserve	PROPN
cblr-1707	561	4	economic	economic	ADJ
cblr-1707	561	5	data	datum	NOUN
cblr-1707	561	6	(	(	PUNCT
cblr-1707	561	7	“	"	PUNCT
cblr-1707	561	8	fred	fred	PROPN
cblr-1707	561	9	”	"	PUNCT
cblr-1707	561	10	)	)	PUNCT
cblr-1707	561	11	,	,	PUNCT
cblr-1707	561	12	interest	interest	NOUN
cblr-1707	561	13	rate	rate	NOUN
cblr-1707	561	14	on	on	ADP
cblr-1707	561	15	excess	excess	ADJ
cblr-1707	561	16	reserves	reserve	NOUN
cblr-1707	561	17	(	(	PUNCT
cblr-1707	561	18	“	"	PUNCT
cblr-1707	561	19	ioer	ioer	NOUN
cblr-1707	561	20	”	"	PUNCT
cblr-1707	561	21	)	)	PUNCT
cblr-1707	561	22	(	(	PUNCT
cblr-1707	561	23	2015	2015	NUM
cblr-1707	561	24	)	)	PUNCT
cblr-1707	561	25	,	,	PUNCT
cblr-1707	561	26	fed	fed	PROPN
cblr-1707	561	27	.	.	PUNCT
cblr-1707	562	1	res	res	PROPN
cblr-1707	562	2	.	.	PUNCT
cblr-1707	562	3	bank	bank	PROPN
cblr-1707	562	4	of	of	ADP
cblr-1707	562	5	st	st	PROPN
cblr-1707	562	6	.	.	PROPN
cblr-1707	562	7	louis	louis	PROPN
cblr-1707	562	8	,	,	PUNCT
cblr-1707	562	9	https://fred.stlouisfed.org/series/ioer	https://fred.stlouisfed.org/series/ioer	NOUN
cblr-1707	563	1	[	[	X
cblr-1707	563	2	https://perma.cc/5827-5d6v	https://perma.cc/5827-5d6v	X
cblr-1707	563	3	]	]	X
cblr-1707	563	4	.	.	PUNCT
cblr-1707	564	1	84	84	NUM
cblr-1707	565	1	i	i	PRON
cblr-1707	565	2	d.	d.	PROPN
cblr-1707	565	3	85	85	NUM
cblr-1707	565	4	federal	federal	PROPN
cblr-1707	565	5	reserve	reserve	PROPN
cblr-1707	565	6	economic	economic	ADJ
cblr-1707	565	7	data	datum	NOUN
cblr-1707	565	8	(	(	PUNCT
cblr-1707	565	9	“	"	PUNCT
cblr-1707	565	10	fred	fred	PROPN
cblr-1707	565	11	”	"	PUNCT
cblr-1707	565	12	)	)	PUNCT
cblr-1707	565	13	,	,	PUNCT
cblr-1707	565	14	interest	interest	NOUN
cblr-1707	565	15	rate	rate	NOUN
cblr-1707	565	16	on	on	ADP
cblr-1707	565	17	excess	excess	ADJ
cblr-1707	565	18	reserves	reserve	NOUN
cblr-1707	565	19	(	(	PUNCT
cblr-1707	565	20	“	"	PUNCT
cblr-1707	565	21	ioer	ioer	NOUN
cblr-1707	565	22	”	"	PUNCT
cblr-1707	565	23	)	)	PUNCT
cblr-1707	565	24	(	(	PUNCT
cblr-1707	565	25	2016	2016	NUM
cblr-1707	565	26	)	)	PUNCT
cblr-1707	565	27	,	,	PUNCT
cblr-1707	565	28	fed	fed	PROPN
cblr-1707	565	29	.	.	PUNCT
cblr-1707	566	1	res	res	PROPN
cblr-1707	566	2	.	.	PUNCT
cblr-1707	566	3	bank	bank	PROPN
cblr-1707	566	4	of	of	ADP
cblr-1707	566	5	st	st	PROPN
cblr-1707	566	6	.	.	PROPN
cblr-1707	566	7	louis	louis	PROPN
cblr-1707	566	8	,	,	PUNCT
cblr-1707	566	9	https://fred.stlouisfed.org/series/ioer	https://fred.stlouisfed.org/series/ioer	NOUN
cblr-1707	567	1	[	[	X
cblr-1707	567	2	https://perma.cc/l59e-byen	https://perma.cc/l59e-byen	X
cblr-1707	567	3	]	]	X
cblr-1707	567	4	.	.	PUNCT
cblr-1707	568	1	86	86	NUM
cblr-1707	568	2	federal	federal	PROPN
cblr-1707	568	3	reserve	reserve	PROPN
cblr-1707	568	4	economic	economic	ADJ
cblr-1707	568	5	data	datum	NOUN
cblr-1707	568	6	(	(	PUNCT
cblr-1707	568	7	“	"	PUNCT
cblr-1707	568	8	fred	fred	PROPN
cblr-1707	568	9	”	"	PUNCT
cblr-1707	568	10	)	)	PUNCT
cblr-1707	568	11	,	,	PUNCT
cblr-1707	568	12	federal	federal	ADJ
cblr-1707	568	13	funds	fund	NOUN
cblr-1707	568	14	target	target	NOUN
cblr-1707	568	15	range	range	NOUN
cblr-1707	568	16	–	–	PUNCT
cblr-1707	568	17	lower	low	ADJ
cblr-1707	568	18	limit	limit	NOUN
cblr-1707	568	19	(	(	PUNCT
cblr-1707	568	20	“	"	PUNCT
cblr-1707	568	21	dfedtarl	dfedtarl	PROPN
cblr-1707	568	22	”	"	PUNCT
cblr-1707	568	23	)	)	PUNCT
cblr-1707	568	24	(	(	PUNCT
cblr-1707	568	25	2018	2018	NUM
cblr-1707	568	26	)	)	PUNCT
cblr-1707	568	27	,	,	PUNCT
cblr-1707	568	28	fed	fed	PROPN
cblr-1707	568	29	.	.	PUNCT
cblr-1707	569	1	res	res	PROPN
cblr-1707	569	2	.	.	PUNCT
cblr-1707	569	3	bank	bank	PROPN
cblr-1707	569	4	of	of	ADP
cblr-1707	569	5	st	st	PROPN
cblr-1707	569	6	.	.	PROPN
cblr-1707	569	7	louis	louis	PROPN
cblr-1707	569	8	,	,	PUNCT
cblr-1707	569	9	https://fred.stlouisfed.org/series/dfedtarl	https://fred.stlouisfed.org/series/dfedtarl	PROPN
cblr-1707	570	1	[	[	X
cblr-1707	570	2	https://perma.cc/88d28cwg	https://perma.cc/88d28cwg	PROPN
cblr-1707	570	3	]	]	X
cblr-1707	570	4	;	;	PUNCT
cblr-1707	570	5	federal	federal	PROPN
cblr-1707	570	6	reserve	reserve	PROPN
cblr-1707	570	7	economic	economic	ADJ
cblr-1707	570	8	data	datum	NOUN
cblr-1707	570	9	(	(	PUNCT
cblr-1707	570	10	“	"	PUNCT
cblr-1707	570	11	fred	fred	PROPN
cblr-1707	570	12	”	"	PUNCT
cblr-1707	570	13	)	)	PUNCT
cblr-1707	570	14	,	,	PUNCT
cblr-1707	570	15	federal	federal	ADJ
cblr-1707	570	16	funds	fund	NOUN
cblr-1707	570	17	target	target	NOUN
cblr-1707	570	18	range	range	NOUN
cblr-1707	570	19	–	–	PUNCT
cblr-1707	570	20	upper	upper	ADJ
cblr-1707	570	21	limit	limit	NOUN
cblr-1707	570	22	(	(	PUNCT
cblr-1707	570	23	“	"	PUNCT
cblr-1707	570	24	dfedtaru	dfedtaru	NOUN
cblr-1707	570	25	”	"	PUNCT
cblr-1707	570	26	)	)	PUNCT
cblr-1707	570	27	(	(	PUNCT
cblr-1707	570	28	2018	2018	NUM
cblr-1707	570	29	)	)	PUNCT
cblr-1707	570	30	,	,	PUNCT
cblr-1707	570	31	fed	fed	PROPN
cblr-1707	570	32	.	.	PUNCT
cblr-1707	571	1	res	res	PROPN
cblr-1707	571	2	.	.	PUNCT
cblr-1707	571	3	bank	bank	PROPN
cblr-1707	571	4	of	of	ADP
cblr-1707	571	5	st	st	PROPN
cblr-1707	571	6	.	.	PROPN
cblr-1707	571	7	louis	louis	PROPN
cblr-1707	571	8	,	,	PUNCT
cblr-1707	571	9	https://fred.stlouisfed.org/series/dfedtaru	https://fred.stlouisfed.org/series/dfedtaru	NOUN
cblr-1707	572	1	[	[	X
cblr-1707	572	2	https://perma.cc/v3abnkgw	https://perma.cc/v3abnkgw	X
cblr-1707	572	3	]	]	X
cblr-1707	572	4	.	.	PUNCT
cblr-1707	573	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	573	2	no	no	NOUN
cblr-1707	573	3	.	.	PUNCT
cblr-1707	574	1	3:757	3:757	NUM
cblr-1707	574	2	]	]	X
cblr-1707	574	3	money	money	NOUN
cblr-1707	574	4	as	as	ADP
cblr-1707	574	5	infrastructure	infrastructure	NOUN
cblr-1707	574	6	789	789	NUM
cblr-1707	574	7	the	the	DET
cblr-1707	574	8	federal	federal	PROPN
cblr-1707	574	9	reserve	reserve	PROPN
cblr-1707	574	10	has	have	AUX
cblr-1707	574	11	set	set	VERB
cblr-1707	574	12	the	the	DET
cblr-1707	574	13	ioer	ioer	NOUN
cblr-1707	574	14	rate	rate	NOUN
cblr-1707	574	15	at	at	ADP
cblr-1707	574	16	the	the	DET
cblr-1707	574	17	top	top	ADJ
cblr-1707	574	18	end	end	NOUN
cblr-1707	574	19	of	of	ADP
cblr-1707	574	20	the	the	DET
cblr-1707	574	21	range.87	range.87	NOUN
cblr-1707	574	22	but	but	CCONJ
cblr-1707	574	23	why	why	SCONJ
cblr-1707	574	24	should	should	AUX
cblr-1707	574	25	the	the	DET
cblr-1707	574	26	ioer	ioer	NOUN
cblr-1707	574	27	rate	rate	NOUN
cblr-1707	574	28	be	be	AUX
cblr-1707	574	29	set	set	VERB
cblr-1707	574	30	at	at	ADP
cblr-1707	574	31	the	the	DET
cblr-1707	574	32	top	top	NOUN
cblr-1707	574	33	of	of	ADP
cblr-1707	574	34	the	the	DET
cblr-1707	574	35	federal	federal	ADJ
cblr-1707	574	36	funds	fund	NOUN
cblr-1707	574	37	target	target	NOUN
cblr-1707	574	38	range	range	NOUN
cblr-1707	574	39	rather	rather	ADV
cblr-1707	574	40	than	than	ADP
cblr-1707	574	41	the	the	DET
cblr-1707	574	42	bottom	bottom	NOUN
cblr-1707	574	43	?	?	PUNCT
cblr-1707	575	1	one	one	PRON
cblr-1707	575	2	might	might	AUX
cblr-1707	575	3	have	have	AUX
cblr-1707	575	4	expected	expect	VERB
cblr-1707	575	5	(	(	PUNCT
cblr-1707	575	6	and	and	CCONJ
cblr-1707	575	7	,	,	PUNCT
cblr-1707	575	8	in	in	ADP
cblr-1707	575	9	fact	fact	NOUN
cblr-1707	575	10	,	,	PUNCT
cblr-1707	575	11	top	top	ADJ
cblr-1707	575	12	fed	fed	PROPN
cblr-1707	575	13	officials	official	NOUN
cblr-1707	575	14	did	do	AUX
cblr-1707	575	15	initially	initially	ADV
cblr-1707	575	16	expect)88	expect)88	VERB
cblr-1707	575	17	that	that	SCONJ
cblr-1707	575	18	paying	pay	VERB
cblr-1707	575	19	ioer	ioer	NOUN
cblr-1707	575	20	would	would	AUX
cblr-1707	575	21	set	set	VERB
cblr-1707	575	22	an	an	DET
cblr-1707	575	23	absolute	absolute	ADJ
cblr-1707	575	24	floor	floor	NOUN
cblr-1707	575	25	on	on	ADP
cblr-1707	575	26	the	the	DET
cblr-1707	575	27	federal	federal	ADJ
cblr-1707	575	28	funds	fund	NOUN
cblr-1707	575	29	rate	rate	NOUN
cblr-1707	575	30	—	—	PUNCT
cblr-1707	575	31	that	that	ADV
cblr-1707	575	32	is	is	ADV
cblr-1707	575	33	,	,	PUNCT
cblr-1707	575	34	the	the	DET
cblr-1707	575	35	federal	federal	ADJ
cblr-1707	575	36	funds	fund	NOUN
cblr-1707	575	37	rate	rate	NOUN
cblr-1707	575	38	would	would	AUX
cblr-1707	575	39	never	never	ADV
cblr-1707	575	40	fall	fall	VERB
cblr-1707	575	41	below	below	ADP
cblr-1707	575	42	the	the	DET
cblr-1707	575	43	ioer	ioer	NOUN
cblr-1707	575	44	rate	rate	NOUN
cblr-1707	575	45	.	.	PUNCT
cblr-1707	576	1	after	after	ADV
cblr-1707	576	2	all	all	ADV
cblr-1707	576	3	,	,	PUNCT
cblr-1707	576	4	why	why	SCONJ
cblr-1707	576	5	would	would	AUX
cblr-1707	576	6	any	any	DET
cblr-1707	576	7	bank	bank	NOUN
cblr-1707	576	8	lend	lend	VERB
cblr-1707	576	9	reserves	reserve	NOUN
cblr-1707	576	10	(	(	PUNCT
cblr-1707	576	11	unsecured	unsecured	ADJ
cblr-1707	576	12	!	!	PUNCT
cblr-1707	576	13	)	)	PUNCT
cblr-1707	576	14	to	to	ADP
cblr-1707	576	15	another	another	DET
cblr-1707	576	16	bank	bank	NOUN
cblr-1707	576	17	at	at	ADP
cblr-1707	576	18	a	a	DET
cblr-1707	576	19	lower	low	ADJ
cblr-1707	576	20	rate	rate	NOUN
cblr-1707	576	21	than	than	SCONJ
cblr-1707	576	22	it	it	PRON
cblr-1707	576	23	could	could	AUX
cblr-1707	576	24	risklessly	risklessly	ADV
cblr-1707	576	25	earn	earn	VERB
cblr-1707	576	26	by	by	ADP
cblr-1707	576	27	simply	simply	ADV
cblr-1707	576	28	holding	hold	VERB
cblr-1707	576	29	the	the	DET
cblr-1707	576	30	reserve	reserve	NOUN
cblr-1707	576	31	balance	balance	NOUN
cblr-1707	576	32	?	?	PUNCT
cblr-1707	577	1	in	in	ADP
cblr-1707	577	2	reality	reality	NOUN
cblr-1707	577	3	,	,	PUNCT
cblr-1707	577	4	however	however	ADV
cblr-1707	577	5	,	,	PUNCT
cblr-1707	577	6	the	the	DET
cblr-1707	577	7	effective	effective	ADJ
cblr-1707	577	8	federal	federal	ADJ
cblr-1707	577	9	funds	fund	NOUN
cblr-1707	577	10	rate	rate	NOUN
cblr-1707	577	11	has	have	AUX
cblr-1707	577	12	stayed	stay	VERB
cblr-1707	577	13	consistently	consistently	ADV
cblr-1707	577	14	and	and	CCONJ
cblr-1707	577	15	significantly	significantly	ADV
cblr-1707	577	16	below	below	ADP
cblr-1707	577	17	the	the	DET
cblr-1707	577	18	ioer	ioer	NOUN
cblr-1707	577	19	rate	rate	NOUN
cblr-1707	577	20	,	,	PUNCT
cblr-1707	577	21	contrary	contrary	ADJ
cblr-1707	577	22	to	to	ADP
cblr-1707	577	23	initial	initial	ADJ
cblr-1707	577	24	expectations	expectation	NOUN
cblr-1707	577	25	.	.	PUNCT
cblr-1707	578	1	the	the	DET
cblr-1707	578	2	generally	generally	ADV
cblr-1707	578	3	accepted	accept	VERB
cblr-1707	578	4	explanation	explanation	NOUN
cblr-1707	578	5	for	for	ADP
cblr-1707	578	6	this	this	DET
cblr-1707	578	7	anomaly	anomaly	NOUN
cblr-1707	578	8	is	be	AUX
cblr-1707	578	9	that	that	SCONJ
cblr-1707	578	10	certain	certain	ADJ
cblr-1707	578	11	nonbank	nonbank	NOUN
cblr-1707	578	12	government	government	NOUN
cblr-1707	578	13	-	-	PUNCT
cblr-1707	578	14	sponsored	sponsor	VERB
cblr-1707	578	15	enterprises	enterprise	NOUN
cblr-1707	578	16	(	(	PUNCT
cblr-1707	578	17	“	"	PUNCT
cblr-1707	578	18	gses”)89	gses”)89	PROPN
cblr-1707	578	19	are	be	AUX
cblr-1707	578	20	permitted	permit	VERB
cblr-1707	578	21	to	to	PART
cblr-1707	578	22	hold	hold	VERB
cblr-1707	578	23	reserve	reserve	NOUN
cblr-1707	578	24	balances	balance	NOUN
cblr-1707	578	25	but	but	CCONJ
cblr-1707	578	26	are	be	AUX
cblr-1707	578	27	not	not	PART
cblr-1707	578	28	legally	legally	ADV
cblr-1707	578	29	eligible	eligible	ADJ
cblr-1707	578	30	to	to	PART
cblr-1707	578	31	receive	receive	VERB
cblr-1707	578	32	interest	interest	NOUN
cblr-1707	578	33	on	on	ADP
cblr-1707	578	34	those	those	DET
cblr-1707	578	35	balances.90	balances.90	ADV
cblr-1707	578	36	87	87	NUM
cblr-1707	578	37	federal	federal	PROPN
cblr-1707	578	38	reserve	reserve	PROPN
cblr-1707	578	39	economic	economic	ADJ
cblr-1707	578	40	data	datum	NOUN
cblr-1707	578	41	(	(	PUNCT
cblr-1707	578	42	“	"	PUNCT
cblr-1707	578	43	fred	fred	PROPN
cblr-1707	578	44	”	"	PUNCT
cblr-1707	578	45	)	)	PUNCT
cblr-1707	578	46	,	,	PUNCT
cblr-1707	578	47	interest	interest	NOUN
cblr-1707	578	48	rate	rate	NOUN
cblr-1707	578	49	on	on	ADP
cblr-1707	578	50	excess	excess	ADJ
cblr-1707	578	51	reserves	reserve	NOUN
cblr-1707	578	52	(	(	PUNCT
cblr-1707	578	53	“	"	PUNCT
cblr-1707	578	54	ioer	ioer	NOUN
cblr-1707	578	55	”	"	PUNCT
cblr-1707	578	56	)	)	PUNCT
cblr-1707	578	57	(	(	PUNCT
cblr-1707	578	58	2018	2018	NUM
cblr-1707	578	59	)	)	PUNCT
cblr-1707	578	60	,	,	PUNCT
cblr-1707	578	61	fed	fed	PROPN
cblr-1707	578	62	.	.	PUNCT
cblr-1707	579	1	res	res	PROPN
cblr-1707	579	2	.	.	PUNCT
cblr-1707	579	3	bank	bank	PROPN
cblr-1707	579	4	of	of	ADP
cblr-1707	579	5	st	st	PROPN
cblr-1707	579	6	.	.	PROPN
cblr-1707	579	7	louis	louis	PROPN
cblr-1707	579	8	,	,	PUNCT
cblr-1707	579	9	https://fred.stlouisfed.org/series/ioer	https://fred.stlouisfed.org/series/ioer	NOUN
cblr-1707	580	1	[	[	X
cblr-1707	580	2	https://perma.cc/jsw2-eftw	https://perma.cc/jsw2-eftw	PROPN
cblr-1707	580	3	]	]	PUNCT
cblr-1707	580	4	.	.	PUNCT
cblr-1707	581	1	88	88	NUM
cblr-1707	581	2	see	see	VERB
cblr-1707	581	3	,	,	PUNCT
cblr-1707	581	4	e.g.	e.g.	ADV
cblr-1707	581	5	,	,	PUNCT
cblr-1707	581	6	ben	ben	PROPN
cblr-1707	581	7	s.	s.	PROPN
cblr-1707	581	8	bernanke	bernanke	PROPN
cblr-1707	581	9	&	&	CCONJ
cblr-1707	581	10	donald	donald	PROPN
cblr-1707	581	11	kohn	kohn	PROPN
cblr-1707	581	12	,	,	PUNCT
cblr-1707	581	13	the	the	DET
cblr-1707	581	14	fed	fed	PROPN
cblr-1707	581	15	’s	’s	PART
cblr-1707	581	16	interest	interest	NOUN
cblr-1707	581	17	payments	payment	NOUN
cblr-1707	581	18	to	to	ADP
cblr-1707	581	19	banks	bank	NOUN
cblr-1707	581	20	,	,	PUNCT
cblr-1707	581	21	brookings	brookings	PROPN
cblr-1707	581	22	(	(	PUNCT
cblr-1707	581	23	feb	feb	PROPN
cblr-1707	581	24	.	.	PROPN
cblr-1707	581	25	16	16	NUM
cblr-1707	581	26	,	,	PUNCT
cblr-1707	581	27	2016	2016	NUM
cblr-1707	581	28	)	)	PUNCT
cblr-1707	581	29	,	,	PUNCT
cblr-1707	581	30	https://www.brookings.edu/blog/ben-bernanke/2016/02/16/the-fedsinterest-payments-to-banks/	https://www.brookings.edu/blog/ben-bernanke/2016/02/16/the-fedsinterest-payments-to-banks/	PUNCT
cblr-1707	582	1	[	[	X
cblr-1707	582	2	https://perma.cc/74yx-eerv	https://perma.cc/74yx-eerv	X
cblr-1707	582	3	]	]	X
cblr-1707	582	4	(	(	PUNCT
cblr-1707	582	5	noting	note	VERB
cblr-1707	582	6	that	that	SCONJ
cblr-1707	582	7	“	"	PUNCT
cblr-1707	582	8	many	many	ADJ
cblr-1707	582	9	at	at	ADP
cblr-1707	582	10	the	the	DET
cblr-1707	582	11	fed	fed	PROPN
cblr-1707	582	12	expected	expect	VERB
cblr-1707	582	13	”	"	PUNCT
cblr-1707	582	14	the	the	DET
cblr-1707	582	15	federal	federal	ADJ
cblr-1707	582	16	funds	fund	NOUN
cblr-1707	582	17	rate	rate	NOUN
cblr-1707	582	18	to	to	PART
cblr-1707	582	19	track	track	VERB
cblr-1707	582	20	the	the	DET
cblr-1707	582	21	ioer	ioer	NOUN
cblr-1707	582	22	rate	rate	NOUN
cblr-1707	582	23	)	)	PUNCT
cblr-1707	582	24	;	;	PUNCT
cblr-1707	582	25	simon	simon	PROPN
cblr-1707	582	26	potter	potter	PROPN
cblr-1707	582	27	,	,	PUNCT
cblr-1707	582	28	exec	exec	NOUN
cblr-1707	582	29	.	.	PUNCT
cblr-1707	583	1	vice	vice	PROPN
cblr-1707	583	2	president	president	NOUN
cblr-1707	583	3	,	,	PUNCT
cblr-1707	583	4	fed	fed	PROPN
cblr-1707	583	5	.	.	PROPN
cblr-1707	583	6	reserve	reserve	PROPN
cblr-1707	583	7	bank	bank	PROPN
cblr-1707	583	8	of	of	ADP
cblr-1707	583	9	n.y	n.y	PROPN
cblr-1707	583	10	.	.	PROPN
cblr-1707	583	11	,	,	PUNCT
cblr-1707	583	12	dinner	dinner	NOUN
cblr-1707	583	13	address	address	NOUN
cblr-1707	583	14	for	for	ADP
cblr-1707	583	15	the	the	DET
cblr-1707	583	16	bank	bank	PROPN
cblr-1707	583	17	of	of	ADP
cblr-1707	583	18	england	england	PROPN
cblr-1707	583	19	–	–	PUNCT
cblr-1707	583	20	federal	federal	PROPN
cblr-1707	583	21	reserve	reserve	PROPN
cblr-1707	583	22	bank	bank	PROPN
cblr-1707	583	23	of	of	ADP
cblr-1707	583	24	new	new	PROPN
cblr-1707	583	25	york	york	PROPN
cblr-1707	583	26	conference	conference	PROPN
cblr-1707	583	27	on	on	ADP
cblr-1707	583	28	money	money	NOUN
cblr-1707	583	29	markets	market	NOUN
cblr-1707	583	30	and	and	CCONJ
cblr-1707	583	31	monetary	monetary	ADJ
cblr-1707	583	32	policy	policy	NOUN
cblr-1707	583	33	implementation	implementation	NOUN
cblr-1707	583	34	(	(	PUNCT
cblr-1707	583	35	nov	nov	PROPN
cblr-1707	583	36	.	.	PROPN
cblr-1707	583	37	16	16	NUM
cblr-1707	583	38	,	,	PUNCT
cblr-1707	583	39	2015	2015	NUM
cblr-1707	583	40	)	)	PUNCT
cblr-1707	583	41	,	,	PUNCT
cblr-1707	583	42	https://www.newyorkfed.org/newsevents/speeches/2015/pot	https://www.newyorkfed.org/newsevents/speeches/2015/pot	PUNCT
cblr-1707	583	43	151116	151116	NUM
cblr-1707	583	44	[	[	X
cblr-1707	583	45	https://perma.cc/39gr-jk6	https://perma.cc/39gr-jk6	NUM
cblr-1707	583	46	m	m	NOUN
cblr-1707	583	47	]	]	X
cblr-1707	583	48	(	(	PUNCT
cblr-1707	583	49	“	"	PUNCT
cblr-1707	583	50	[	[	X
cblr-1707	583	51	w]e	w]e	NOUN
cblr-1707	583	52	did	do	AUX
cblr-1707	583	53	not	not	PART
cblr-1707	583	54	anticipate	anticipate	VERB
cblr-1707	583	55	that	that	SCONJ
cblr-1707	583	56	frictions	friction	NOUN
cblr-1707	583	57	in	in	ADP
cblr-1707	583	58	our	our	PRON
cblr-1707	583	59	money	money	NOUN
cblr-1707	583	60	markets	market	NOUN
cblr-1707	583	61	would	would	AUX
cblr-1707	583	62	limit	limit	VERB
cblr-1707	583	63	the	the	DET
cblr-1707	583	64	arbitrage	arbitrage	NOUN
cblr-1707	583	65	that	that	PRON
cblr-1707	583	66	would	would	AUX
cblr-1707	583	67	keep	keep	VERB
cblr-1707	583	68	market	market	NOUN
cblr-1707	583	69	rates	rate	NOUN
cblr-1707	583	70	in	in	ADP
cblr-1707	583	71	line	line	NOUN
cblr-1707	583	72	with	with	ADP
cblr-1707	583	73	the	the	DET
cblr-1707	583	74	rate	rate	NOUN
cblr-1707	583	75	of	of	ADP
cblr-1707	583	76	interest	interest	NOUN
cblr-1707	583	77	we	we	PRON
cblr-1707	583	78	pay	pay	VERB
cblr-1707	583	79	on	on	ADP
cblr-1707	583	80	excess	excess	ADJ
cblr-1707	583	81	reserves	reserve	NOUN
cblr-1707	583	82	by	by	ADP
cblr-1707	583	83	such	such	DET
cblr-1707	583	84	an	an	DET
cblr-1707	583	85	extent	extent	NOUN
cblr-1707	583	86	,	,	PUNCT
cblr-1707	583	87	leaving	leave	VERB
cblr-1707	583	88	many	many	ADJ
cblr-1707	583	89	money	money	NOUN
cblr-1707	583	90	market	market	NOUN
cblr-1707	583	91	interest	interest	NOUN
cblr-1707	583	92	rates	rate	NOUN
cblr-1707	583	93	well	well	ADV
cblr-1707	583	94	below	below	ADP
cblr-1707	583	95	the	the	DET
cblr-1707	583	96	rate	rate	NOUN
cblr-1707	583	97	of	of	ADP
cblr-1707	583	98	interest	interest	NOUN
cblr-1707	583	99	paid	pay	VERB
cblr-1707	583	100	on	on	ADP
cblr-1707	583	101	excess	excess	ADJ
cblr-1707	583	102	reserves	reserve	NOUN
cblr-1707	583	103	(	(	PUNCT
cblr-1707	583	104	ioer	ioer	NOUN
cblr-1707	583	105	)	)	PUNCT
cblr-1707	583	106	,	,	PUNCT
cblr-1707	583	107	contrary	contrary	ADV
cblr-1707	583	108	to	to	ADP
cblr-1707	583	109	what	what	DET
cblr-1707	583	110	theory	theory	NOUN
cblr-1707	583	111	would	would	AUX
cblr-1707	583	112	suggest	suggest	VERB
cblr-1707	583	113	.	.	PUNCT
cblr-1707	583	114	”	"	PUNCT
cblr-1707	583	115	)	)	PUNCT
cblr-1707	583	116	.	.	PUNCT
cblr-1707	584	1	89	89	NUM
cblr-1707	584	2	namely	namely	ADV
cblr-1707	584	3	,	,	PUNCT
cblr-1707	584	4	fannie	fannie	PROPN
cblr-1707	584	5	mae	mae	PROPN
cblr-1707	584	6	and	and	CCONJ
cblr-1707	584	7	freddie	freddie	PROPN
cblr-1707	584	8	mac	mac	PROPN
cblr-1707	584	9	,	,	PUNCT
cblr-1707	584	10	together	together	ADV
cblr-1707	584	11	with	with	ADP
cblr-1707	584	12	the	the	DET
cblr-1707	584	13	federally	federally	ADV
cblr-1707	584	14	chartered	charter	VERB
cblr-1707	584	15	federal	federal	PROPN
cblr-1707	584	16	home	home	PROPN
cblr-1707	584	17	loan	loan	NOUN
cblr-1707	584	18	banks	bank	NOUN
cblr-1707	584	19	.	.	PUNCT
cblr-1707	585	1	90	90	NUM
cblr-1707	585	2	see	see	VERB
cblr-1707	585	3	,	,	PUNCT
cblr-1707	585	4	e.g.	e.g.	ADV
cblr-1707	585	5	,	,	PUNCT
cblr-1707	585	6	federal	federal	ADJ
cblr-1707	585	7	funds	fund	NOUN
cblr-1707	585	8	and	and	CCONJ
cblr-1707	585	9	interest	interest	NOUN
cblr-1707	585	10	of	of	ADP
cblr-1707	585	11	reserves	reserve	NOUN
cblr-1707	585	12	,	,	PUNCT
cblr-1707	585	13	fed	fed	PROPN
cblr-1707	585	14	.	.	PUNCT
cblr-1707	586	1	res	res	PROPN
cblr-1707	586	2	.	.	PUNCT
cblr-1707	586	3	bank	bank	PROPN
cblr-1707	586	4	of	of	ADP
cblr-1707	586	5	n.y	n.y	PROPN
cblr-1707	586	6	.	.	PROPN
cblr-1707	586	7	(	(	PUNCT
cblr-1707	586	8	mar	mar	PROPN
cblr-1707	586	9	.	.	PROPN
cblr-1707	586	10	2013	2013	NUM
cblr-1707	586	11	)	)	PUNCT
cblr-1707	586	12	,	,	PUNCT
cblr-1707	586	13	https://www.newyorkfed.org/aboutthefed	https://www.newyorkfed.org/aboutthefed	PROPN
cblr-1707	586	14	/fedpoint	/fedpoint	PROPN
cblr-1707	586	15	/	/	SYM
cblr-1707	586	16	fed15.html	fed15.html	PROPN
cblr-1707	587	1	[	[	X
cblr-1707	587	2	https://perma.cc/6uh5-pbzu	https://perma.cc/6uh5-pbzu	X
cblr-1707	587	3	]	]	X
cblr-1707	587	4	.	.	PUNCT
cblr-1707	588	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	588	2	790	790	NUM
cblr-1707	588	3	columbia	columbia	PROPN
cblr-1707	588	4	business	business	NOUN
cblr-1707	588	5	law	law	PROPN
cblr-1707	588	6	review	review	NOUN
cblr-1707	588	7	[	[	X
cblr-1707	588	8	vol	vol	NOUN
cblr-1707	588	9	.	.	PUNCT
cblr-1707	588	10	2018	2018	NUM
cblr-1707	588	11	consequently	consequently	ADV
cblr-1707	588	12	,	,	PUNCT
cblr-1707	588	13	the	the	DET
cblr-1707	588	14	gses	gse	NOUN
cblr-1707	588	15	are	be	AUX
cblr-1707	588	16	willing	willing	ADJ
cblr-1707	588	17	to	to	PART
cblr-1707	588	18	lend	lend	VERB
cblr-1707	588	19	their	their	PRON
cblr-1707	588	20	reserve	reserve	NOUN
cblr-1707	588	21	balances	balance	NOUN
cblr-1707	588	22	in	in	ADP
cblr-1707	588	23	the	the	DET
cblr-1707	588	24	federal	federal	ADJ
cblr-1707	588	25	funds	fund	NOUN
cblr-1707	588	26	market	market	NOUN
cblr-1707	588	27	at	at	ADP
cblr-1707	588	28	rates	rate	NOUN
cblr-1707	588	29	below	below	ADP
cblr-1707	588	30	the	the	DET
cblr-1707	588	31	ioer	ioer	NOUN
cblr-1707	588	32	rate	rate	NOUN
cblr-1707	588	33	.	.	PUNCT
cblr-1707	589	1	still	still	ADV
cblr-1707	589	2	,	,	PUNCT
cblr-1707	589	3	this	this	PRON
cblr-1707	589	4	alone	alone	ADV
cblr-1707	589	5	does	do	AUX
cblr-1707	589	6	not	not	PART
cblr-1707	589	7	explain	explain	VERB
cblr-1707	589	8	why	why	SCONJ
cblr-1707	589	9	the	the	DET
cblr-1707	589	10	federal	federal	ADJ
cblr-1707	589	11	funds	fund	NOUN
cblr-1707	589	12	rate	rate	NOUN
cblr-1707	589	13	would	would	AUX
cblr-1707	589	14	fall	fall	VERB
cblr-1707	589	15	materially	materially	ADV
cblr-1707	589	16	below	below	ADP
cblr-1707	589	17	the	the	DET
cblr-1707	589	18	ioer	ioer	NOUN
cblr-1707	589	19	rate	rate	NOUN
cblr-1707	589	20	.	.	PUNCT
cblr-1707	590	1	in	in	ADP
cblr-1707	590	2	theory	theory	NOUN
cblr-1707	590	3	,	,	PUNCT
cblr-1707	590	4	commercial	commercial	ADJ
cblr-1707	590	5	banks	bank	NOUN
cblr-1707	590	6	would	would	AUX
cblr-1707	590	7	compete	compete	VERB
cblr-1707	590	8	to	to	PART
cblr-1707	590	9	borrow	borrow	VERB
cblr-1707	590	10	the	the	DET
cblr-1707	590	11	gses	gse	NOUN
cblr-1707	590	12	’	'	PUNCT
cblr-1707	590	13	reserves	reserve	NOUN
cblr-1707	590	14	,	,	PUNCT
cblr-1707	590	15	thereby	thereby	ADV
cblr-1707	590	16	bidding	bid	VERB
cblr-1707	590	17	the	the	DET
cblr-1707	590	18	federal	federal	ADJ
cblr-1707	590	19	funds	fund	NOUN
cblr-1707	590	20	rate	rate	VERB
cblr-1707	590	21	up	up	ADP
cblr-1707	590	22	to	to	ADP
cblr-1707	590	23	the	the	DET
cblr-1707	590	24	ioer	ioer	NOUN
cblr-1707	590	25	rate	rate	NOUN
cblr-1707	590	26	.	.	PUNCT
cblr-1707	591	1	in	in	ADP
cblr-1707	591	2	practice	practice	NOUN
cblr-1707	591	3	,	,	PUNCT
cblr-1707	591	4	however	however	ADV
cblr-1707	591	5	,	,	PUNCT
cblr-1707	591	6	banks	bank	NOUN
cblr-1707	591	7	have	have	AUX
cblr-1707	591	8	proved	prove	VERB
cblr-1707	591	9	unwilling	unwilling	ADJ
cblr-1707	591	10	to	to	PART
cblr-1707	591	11	do	do	VERB
cblr-1707	591	12	so	so	ADV
cblr-1707	591	13	,	,	PUNCT
cblr-1707	591	14	and	and	CCONJ
cblr-1707	591	15	the	the	DET
cblr-1707	591	16	federal	federal	ADJ
cblr-1707	591	17	funds	fund	NOUN
cblr-1707	591	18	rate	rate	NOUN
cblr-1707	591	19	has	have	AUX
cblr-1707	591	20	remained	remain	VERB
cblr-1707	591	21	substantially	substantially	ADV
cblr-1707	591	22	below	below	ADP
cblr-1707	591	23	the	the	DET
cblr-1707	591	24	ioer	ioer	NOUN
cblr-1707	591	25	rate.91	rate.91	NOUN
cblr-1707	591	26	the	the	DET
cblr-1707	591	27	reason	reason	NOUN
cblr-1707	591	28	,	,	PUNCT
cblr-1707	591	29	it	it	PRON
cblr-1707	591	30	seems	seem	VERB
cblr-1707	591	31	,	,	PUNCT
cblr-1707	591	32	is	be	AUX
cblr-1707	591	33	regulation	regulation	NOUN
cblr-1707	591	34	.	.	PUNCT
cblr-1707	592	1	as	as	SCONJ
cblr-1707	592	2	currently	currently	ADV
cblr-1707	592	3	implemented	implement	VERB
cblr-1707	592	4	,	,	PUNCT
cblr-1707	592	5	regulatory	regulatory	ADJ
cblr-1707	592	6	capital	capital	NOUN
cblr-1707	592	7	requirements	requirement	NOUN
cblr-1707	592	8	and	and	CCONJ
cblr-1707	592	9	deposit	deposit	NOUN
cblr-1707	592	10	insurance	insurance	NOUN
cblr-1707	592	11	fees	fee	NOUN
cblr-1707	592	12	make	make	VERB
cblr-1707	592	13	balance	balance	NOUN
cblr-1707	592	14	-	-	PUNCT
cblr-1707	592	15	sheet	sheet	NOUN
cblr-1707	592	16	expansion	expansion	NOUN
cblr-1707	592	17	costly	costly	ADJ
cblr-1707	592	18	for	for	ADP
cblr-1707	592	19	commercial	commercial	ADJ
cblr-1707	592	20	banks	bank	NOUN
cblr-1707	592	21	.	.	PUNCT
cblr-1707	593	1	these	these	DET
cblr-1707	593	2	costs	cost	NOUN
cblr-1707	593	3	inhibit	inhibit	VERB
cblr-1707	593	4	arbitrage	arbitrage	NOUN
cblr-1707	593	5	,	,	PUNCT
cblr-1707	593	6	resulting	result	VERB
cblr-1707	593	7	in	in	ADP
cblr-1707	593	8	a	a	DET
cblr-1707	593	9	meaningful	meaningful	ADJ
cblr-1707	593	10	spread	spread	NOUN
cblr-1707	593	11	between	between	ADP
cblr-1707	593	12	the	the	DET
cblr-1707	593	13	ioer	ioer	NOUN
cblr-1707	593	14	rate	rate	NOUN
cblr-1707	593	15	and	and	CCONJ
cblr-1707	593	16	the	the	DET
cblr-1707	593	17	federal	federal	ADJ
cblr-1707	593	18	funds	fund	NOUN
cblr-1707	593	19	rate	rate	NOUN
cblr-1707	593	20	.	.	PUNCT
cblr-1707	594	1	in	in	ADP
cblr-1707	594	2	addition	addition	NOUN
cblr-1707	594	3	to	to	ADP
cblr-1707	594	4	the	the	DET
cblr-1707	594	5	ioer	ioer	NOUN
cblr-1707	594	6	rate	rate	NOUN
cblr-1707	594	7	,	,	PUNCT
cblr-1707	594	8	the	the	DET
cblr-1707	594	9	federal	federal	PROPN
cblr-1707	594	10	reserve	reserve	PROPN
cblr-1707	594	11	has	have	AUX
cblr-1707	594	12	established	establish	VERB
cblr-1707	594	13	one	one	NUM
cblr-1707	594	14	other	other	ADJ
cblr-1707	594	15	important	important	ADJ
cblr-1707	594	16	administered	administer	VERB
cblr-1707	594	17	rate	rate	NOUN
cblr-1707	594	18	:	:	PUNCT
cblr-1707	594	19	the	the	DET
cblr-1707	594	20	“	"	PUNCT
cblr-1707	594	21	overnight	overnight	ADJ
cblr-1707	594	22	reverse	reverse	NOUN
cblr-1707	594	23	repurchase	repurchase	NOUN
cblr-1707	594	24	agreement	agreement	NOUN
cblr-1707	594	25	rate	rate	NOUN
cblr-1707	594	26	,	,	PUNCT
cblr-1707	594	27	”	"	PUNCT
cblr-1707	594	28	or	or	CCONJ
cblr-1707	594	29	on	on	ADP
cblr-1707	594	30	-	-	PUNCT
cblr-1707	594	31	rrp	rrp	NOUN
cblr-1707	594	32	rate	rate	NOUN
cblr-1707	594	33	.	.	PUNCT
cblr-1707	595	1	a	a	DET
cblr-1707	595	2	repurchase	repurchase	NOUN
cblr-1707	595	3	agreement	agreement	NOUN
cblr-1707	595	4	,	,	PUNCT
cblr-1707	595	5	or	or	CCONJ
cblr-1707	595	6	“	"	PUNCT
cblr-1707	595	7	repo	repo	VERB
cblr-1707	595	8	”	"	PUNCT
cblr-1707	595	9	transaction	transaction	NOUN
cblr-1707	595	10	,	,	PUNCT
cblr-1707	595	11	consists	consist	VERB
cblr-1707	595	12	of	of	ADP
cblr-1707	595	13	the	the	DET
cblr-1707	595	14	sale	sale	NOUN
cblr-1707	595	15	of	of	ADP
cblr-1707	595	16	a	a	DET
cblr-1707	595	17	security	security	NOUN
cblr-1707	595	18	coupled	couple	VERB
cblr-1707	595	19	with	with	ADP
cblr-1707	595	20	a	a	DET
cblr-1707	595	21	forward	forward	ADJ
cblr-1707	595	22	purchase	purchase	NOUN
cblr-1707	595	23	of	of	ADP
cblr-1707	595	24	the	the	DET
cblr-1707	595	25	same	same	ADJ
cblr-1707	595	26	security	security	NOUN
cblr-1707	595	27	at	at	ADP
cblr-1707	595	28	a	a	DET
cblr-1707	595	29	slightly	slightly	ADV
cblr-1707	595	30	higher	high	ADJ
cblr-1707	595	31	price.92	price.92	NOUN
cblr-1707	595	32	a	a	DET
cblr-1707	595	33	repo	repo	NOUN
cblr-1707	595	34	transaction	transaction	NOUN
cblr-1707	595	35	is	be	AUX
cblr-1707	595	36	economically	economically	ADV
cblr-1707	595	37	equivalent	equivalent	ADJ
cblr-1707	595	38	to	to	ADP
cblr-1707	595	39	a	a	DET
cblr-1707	595	40	secured	secure	VERB
cblr-1707	595	41	borrowing	borrowing	NOUN
cblr-1707	595	42	.	.	PUNCT
cblr-1707	596	1	the	the	DET
cblr-1707	596	2	“	"	PUNCT
cblr-1707	596	3	seller	seller	NOUN
cblr-1707	596	4	”	"	PUNCT
cblr-1707	596	5	(	(	PUNCT
cblr-1707	596	6	borrower	borrower	NOUN
cblr-1707	596	7	)	)	PUNCT
cblr-1707	596	8	receives	receive	VERB
cblr-1707	596	9	cash	cash	NOUN
cblr-1707	596	10	today	today	NOUN
cblr-1707	596	11	and	and	CCONJ
cblr-1707	596	12	pays	pay	VERB
cblr-1707	596	13	it	it	PRON
cblr-1707	596	14	back	back	ADV
cblr-1707	596	15	with	with	ADP
cblr-1707	596	16	interest	interest	NOUN
cblr-1707	596	17	on	on	ADP
cblr-1707	596	18	the	the	DET
cblr-1707	596	19	maturity	maturity	NOUN
cblr-1707	596	20	date	date	NOUN
cblr-1707	596	21	.	.	PUNCT
cblr-1707	597	1	if	if	SCONJ
cblr-1707	597	2	the	the	DET
cblr-1707	597	3	seller	seller	NOUN
cblr-1707	597	4	fails	fail	VERB
cblr-1707	597	5	to	to	PART
cblr-1707	597	6	make	make	VERB
cblr-1707	597	7	the	the	DET
cblr-1707	597	8	required	require	VERB
cblr-1707	597	9	payment	payment	NOUN
cblr-1707	597	10	,	,	PUNCT
cblr-1707	597	11	the	the	DET
cblr-1707	597	12	“	"	PUNCT
cblr-1707	597	13	buyer	buyer	NOUN
cblr-1707	597	14	”	"	PUNCT
cblr-1707	597	15	(	(	PUNCT
cblr-1707	597	16	lender	lender	NOUN
cblr-1707	597	17	)	)	PUNCT
cblr-1707	597	18	has	have	VERB
cblr-1707	597	19	the	the	DET
cblr-1707	597	20	security	security	NOUN
cblr-1707	597	21	as	as	ADP
cblr-1707	597	22	collateral	collateral	NOUN
cblr-1707	597	23	.	.	PUNCT
cblr-1707	598	1	in	in	ADP
cblr-1707	598	2	the	the	DET
cblr-1707	598	3	fed	fed	PROPN
cblr-1707	598	4	’s	’s	PART
cblr-1707	598	5	on	on	ADP
cblr-1707	598	6	-	-	PUNCT
cblr-1707	598	7	rrp	rrp	NOUN
cblr-1707	598	8	facility	facility	NOUN
cblr-1707	598	9	,	,	PUNCT
cblr-1707	598	10	the	the	DET
cblr-1707	598	11	fed	fed	PROPN
cblr-1707	598	12	is	be	AUX
cblr-1707	598	13	the	the	DET
cblr-1707	598	14	seller	seller	NOUN
cblr-1707	598	15	/	/	SYM
cblr-1707	598	16	borrower	borrower	NOUN
cblr-1707	598	17	,	,	PUNCT
cblr-1707	598	18	and	and	CCONJ
cblr-1707	598	19	it	it	PRON
cblr-1707	598	20	pays	pay	VERB
cblr-1707	598	21	the	the	DET
cblr-1707	598	22	administered	administer	VERB
cblr-1707	598	23	on	on	ADP
cblr-1707	598	24	-	-	PUNCT
cblr-1707	598	25	rrp	rrp	NOUN
cblr-1707	598	26	rate	rate	NOUN
cblr-1707	598	27	to	to	ADP
cblr-1707	598	28	its	its	PRON
cblr-1707	598	29	counterparties	counterpartie	NOUN
cblr-1707	598	30	.	.	PUNCT
cblr-1707	599	1	in	in	ADP
cblr-1707	599	2	substance	substance	NOUN
cblr-1707	599	3	,	,	PUNCT
cblr-1707	599	4	this	this	PRON
cblr-1707	599	5	is	be	AUX
cblr-1707	599	6	quite	quite	ADV
cblr-1707	599	7	similar	similar	ADJ
cblr-1707	599	8	to	to	ADP
cblr-1707	599	9	ioer	ioer	PROPN
cblr-1707	599	10	,	,	PUNCT
cblr-1707	599	11	in	in	SCONJ
cblr-1707	599	12	that	that	SCONJ
cblr-1707	599	13	the	the	DET
cblr-1707	599	14	federal	federal	PROPN
cblr-1707	599	15	reserve	reserve	PROPN
cblr-1707	599	16	pays	pay	VERB
cblr-1707	599	17	interest	interest	NOUN
cblr-1707	599	18	on	on	ADP
cblr-1707	599	19	certain	certain	ADJ
cblr-1707	599	20	of	of	ADP
cblr-1707	599	21	its	its	PRON
cblr-1707	599	22	own	own	ADJ
cblr-1707	599	23	liabilities	liability	NOUN
cblr-1707	599	24	in	in	ADP
cblr-1707	599	25	order	order	NOUN
cblr-1707	599	26	to	to	PART
cblr-1707	599	27	influence	influence	VERB
cblr-1707	599	28	market	market	NOUN
cblr-1707	599	29	interest	interest	NOUN
cblr-1707	599	30	rates	rate	NOUN
cblr-1707	599	31	.	.	PUNCT
cblr-1707	600	1	but	but	CCONJ
cblr-1707	600	2	there	there	PRON
cblr-1707	600	3	is	be	VERB
cblr-1707	600	4	a	a	DET
cblr-1707	600	5	crucial	crucial	ADJ
cblr-1707	600	6	difference	difference	NOUN
cblr-1707	600	7	:	:	PUNCT
cblr-1707	600	8	by	by	ADP
cblr-1707	600	9	law	law	NOUN
cblr-1707	600	10	,	,	PUNCT
cblr-1707	600	11	ioer	ioer	PROPN
cblr-1707	600	12	can	can	AUX
cblr-1707	600	13	be	be	AUX
cblr-1707	600	14	paid	pay	VERB
cblr-1707	600	15	only	only	ADV
cblr-1707	600	16	to	to	ADP
cblr-1707	600	17	commercial	commercial	ADJ
cblr-1707	600	18	banks,93	banks,93	NOUN
cblr-1707	600	19	whereas	whereas	SCONJ
cblr-1707	600	20	the	the	DET
cblr-1707	600	21	fed	fed	PROPN
cblr-1707	600	22	can	can	AUX
cblr-1707	600	23	do	do	VERB
cblr-1707	600	24	on	on	ADP
cblr-1707	600	25	-	-	PUNCT
cblr-1707	600	26	rrp	rrp	NOUN
cblr-1707	600	27	transactions	transaction	NOUN
cblr-1707	600	28	with	with	ADP
cblr-1707	600	29	any	any	DET
cblr-1707	600	30	counterparty	counterparty	NOUN
cblr-1707	600	31	it	it	PRON
cblr-1707	600	32	chooses	choose	VERB
cblr-1707	600	33	.	.	PUNCT
cblr-1707	601	1	the	the	DET
cblr-1707	601	2	fed	fed	PROPN
cblr-1707	601	3	established	establish	VERB
cblr-1707	601	4	the	the	DET
cblr-1707	601	5	on	on	ADP
cblr-1707	601	6	-	-	PUNCT
cblr-1707	601	7	rrp	rrp	NOUN
cblr-1707	601	8	facility	facility	NOUN
cblr-1707	601	9	in	in	ADP
cblr-1707	601	10	september	september	PROPN
cblr-1707	601	11	2013	2013	NUM
cblr-1707	601	12	on	on	ADP
cblr-1707	601	13	a	a	DET
cblr-1707	601	14	small	small	ADJ
cblr-1707	601	15	91	91	NUM
cblr-1707	601	16	see	see	NOUN
cblr-1707	601	17	infra	infra	NOUN
cblr-1707	601	18	figure	figure	NOUN
cblr-1707	601	19	5	5	NUM
cblr-1707	601	20	.	.	NOUN
cblr-1707	601	21	92	92	NUM
cblr-1707	601	22	for	for	ADP
cblr-1707	601	23	a	a	DET
cblr-1707	601	24	general	general	ADJ
cblr-1707	601	25	overview	overview	NOUN
cblr-1707	601	26	of	of	ADP
cblr-1707	601	27	the	the	DET
cblr-1707	601	28	repo	repo	NOUN
cblr-1707	601	29	market	market	NOUN
cblr-1707	601	30	,	,	PUNCT
cblr-1707	601	31	see	see	VERB
cblr-1707	601	32	marcia	marcia	PROPN
cblr-1707	601	33	stigum	stigum	PROPN
cblr-1707	601	34	&	&	CCONJ
cblr-1707	601	35	anthony	anthony	PROPN
cblr-1707	601	36	crescenzi	crescenzi	PROPN
cblr-1707	601	37	,	,	PUNCT
cblr-1707	601	38	stigum	stigum	VERB
cblr-1707	601	39	’s	’s	PART
cblr-1707	601	40	money	money	NOUN
cblr-1707	601	41	market	market	NOUN
cblr-1707	601	42	531–79	531–79	PROPN
cblr-1707	601	43	(	(	PUNCT
cblr-1707	601	44	4th	4th	ADJ
cblr-1707	601	45	ed	ed	NOUN
cblr-1707	601	46	.	.	PROPN
cblr-1707	601	47	2007	2007	NUM
cblr-1707	601	48	)	)	PUNCT
cblr-1707	601	49	.	.	PUNCT
cblr-1707	602	1	93	93	NUM
cblr-1707	602	2	see	see	VERB
cblr-1707	602	3	12	12	NUM
cblr-1707	602	4	u.s.c	u.s.c	ADJ
cblr-1707	602	5	.	.	PUNCT
cblr-1707	603	1	§	§	PROPN
cblr-1707	603	2	§	§	PROPN
cblr-1707	603	3	461(b)(1)(a	461(b)(1)(a	NUM
cblr-1707	603	4	)	)	PUNCT
cblr-1707	603	5	,	,	PUNCT
cblr-1707	603	6	(	(	PUNCT
cblr-1707	603	7	b)(12	b)(12	PROPN
cblr-1707	603	8	)	)	PUNCT
cblr-1707	603	9	(	(	PUNCT
cblr-1707	603	10	2012	2012	NUM
cblr-1707	603	11	)	)	PUNCT
cblr-1707	603	12	.	.	PUNCT
cblr-1707	604	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	604	2	no	no	NOUN
cblr-1707	604	3	.	.	PUNCT
cblr-1707	605	1	3:757	3:757	NUM
cblr-1707	605	2	]	]	X
cblr-1707	605	3	money	money	NOUN
cblr-1707	605	4	as	as	ADP
cblr-1707	605	5	infrastructure	infrastructure	NOUN
cblr-1707	605	6	791	791	NUM
cblr-1707	605	7	scale	scale	NOUN
cblr-1707	605	8	;	;	PUNCT
cblr-1707	605	9	by	by	ADP
cblr-1707	605	10	april	april	PROPN
cblr-1707	605	11	2014	2014	NUM
cblr-1707	605	12	the	the	DET
cblr-1707	605	13	facility	facility	NOUN
cblr-1707	605	14	was	be	AUX
cblr-1707	605	15	operating	operate	VERB
cblr-1707	605	16	on	on	ADP
cblr-1707	605	17	a	a	DET
cblr-1707	605	18	large	large	ADJ
cblr-1707	605	19	scale.94	scale.94	NOUN
cblr-1707	605	20	why	why	SCONJ
cblr-1707	605	21	are	be	AUX
cblr-1707	605	22	two	two	NUM
cblr-1707	605	23	administered	administer	VERB
cblr-1707	605	24	rates	rate	NOUN
cblr-1707	605	25	(	(	PUNCT
cblr-1707	605	26	ioer	ioer	NOUN
cblr-1707	605	27	and	and	CCONJ
cblr-1707	605	28	on	on	ADP
cblr-1707	605	29	-	-	PUNCT
cblr-1707	605	30	rrp	rrp	NOUN
cblr-1707	605	31	)	)	PUNCT
cblr-1707	605	32	better	well	ADJ
cblr-1707	605	33	than	than	ADP
cblr-1707	605	34	one	one	NUM
cblr-1707	605	35	?	?	PUNCT
cblr-1707	606	1	the	the	DET
cblr-1707	606	2	federal	federal	PROPN
cblr-1707	606	3	reserve	reserve	PROPN
cblr-1707	606	4	has	have	AUX
cblr-1707	606	5	said	say	VERB
cblr-1707	606	6	that	that	SCONJ
cblr-1707	606	7	the	the	DET
cblr-1707	606	8	onrrp	onrrp	PROPN
cblr-1707	606	9	facility	facility	NOUN
cblr-1707	606	10	is	be	AUX
cblr-1707	606	11	designed	design	VERB
cblr-1707	606	12	to	to	PART
cblr-1707	606	13	help	help	VERB
cblr-1707	606	14	it	it	PRON
cblr-1707	606	15	achieve	achieve	VERB
cblr-1707	606	16	its	its	PRON
cblr-1707	606	17	target	target	NOUN
cblr-1707	606	18	federal	federal	ADJ
cblr-1707	606	19	funds	fund	NOUN
cblr-1707	606	20	rate.95	rate.95	NOUN
cblr-1707	606	21	this	this	PRON
cblr-1707	606	22	is	be	AUX
cblr-1707	606	23	questionable	questionable	ADJ
cblr-1707	606	24	.	.	PUNCT
cblr-1707	607	1	as	as	SCONJ
cblr-1707	607	2	noted	note	VERB
cblr-1707	607	3	above	above	ADV
cblr-1707	607	4	,	,	PUNCT
cblr-1707	607	5	the	the	DET
cblr-1707	607	6	federal	federal	ADJ
cblr-1707	607	7	funds	fund	NOUN
cblr-1707	607	8	rate	rate	NOUN
cblr-1707	607	9	can	can	AUX
cblr-1707	607	10	fall	fall	VERB
cblr-1707	607	11	below	below	ADP
cblr-1707	607	12	the	the	DET
cblr-1707	607	13	ioer	ioer	NOUN
cblr-1707	607	14	rate	rate	NOUN
cblr-1707	607	15	only	only	ADV
cblr-1707	607	16	because	because	SCONJ
cblr-1707	607	17	the	the	DET
cblr-1707	607	18	gses	gse	NOUN
cblr-1707	607	19	are	be	AUX
cblr-1707	607	20	ineligible	ineligible	ADJ
cblr-1707	607	21	to	to	PART
cblr-1707	607	22	receive	receive	VERB
cblr-1707	607	23	interest	interest	NOUN
cblr-1707	607	24	on	on	ADP
cblr-1707	607	25	their	their	PRON
cblr-1707	607	26	reserve	reserve	NOUN
cblr-1707	607	27	balances	balance	NOUN
cblr-1707	607	28	.	.	PUNCT
cblr-1707	608	1	if	if	SCONJ
cblr-1707	608	2	the	the	DET
cblr-1707	608	3	on	on	ADP
cblr-1707	608	4	-	-	PUNCT
cblr-1707	608	5	rrp	rrp	NOUN
cblr-1707	608	6	facility	facility	NOUN
cblr-1707	608	7	were	be	AUX
cblr-1707	608	8	intended	intend	VERB
cblr-1707	608	9	only	only	ADV
cblr-1707	608	10	to	to	PART
cblr-1707	608	11	support	support	VERB
cblr-1707	608	12	the	the	DET
cblr-1707	608	13	federal	federal	ADJ
cblr-1707	608	14	funds	fund	NOUN
cblr-1707	608	15	rate	rate	NOUN
cblr-1707	608	16	,	,	PUNCT
cblr-1707	608	17	then	then	ADV
cblr-1707	608	18	it	it	PRON
cblr-1707	608	19	would	would	AUX
cblr-1707	608	20	be	be	AUX
cblr-1707	608	21	supplied	supply	VERB
cblr-1707	608	22	exclusively	exclusively	ADV
cblr-1707	608	23	to	to	ADP
cblr-1707	608	24	the	the	DET
cblr-1707	608	25	gses	gse	NOUN
cblr-1707	608	26	.	.	PUNCT
cblr-1707	609	1	giving	give	VERB
cblr-1707	609	2	the	the	DET
cblr-1707	609	3	gses	gse	NOUN
cblr-1707	609	4	an	an	DET
cblr-1707	609	5	overnight	overnight	ADJ
cblr-1707	609	6	,	,	PUNCT
cblr-1707	609	7	risk	risk	NOUN
cblr-1707	609	8	-	-	PUNCT
cblr-1707	609	9	free	free	ADJ
cblr-1707	609	10	,	,	PUNCT
cblr-1707	609	11	interest	interest	NOUN
cblr-1707	609	12	-	-	PUNCT
cblr-1707	609	13	bearing	bear	VERB
cblr-1707	609	14	alternative	alternative	NOUN
cblr-1707	609	15	to	to	ADP
cblr-1707	609	16	holding	hold	VERB
cblr-1707	609	17	reserve	reserve	NOUN
cblr-1707	609	18	balances	balance	NOUN
cblr-1707	609	19	would	would	AUX
cblr-1707	609	20	place	place	VERB
cblr-1707	609	21	an	an	DET
cblr-1707	609	22	absolute	absolute	ADJ
cblr-1707	609	23	floor	floor	NOUN
cblr-1707	609	24	under	under	ADP
cblr-1707	609	25	the	the	DET
cblr-1707	609	26	federal	federal	ADJ
cblr-1707	609	27	funds	fund	NOUN
cblr-1707	609	28	rate	rate	NOUN
cblr-1707	609	29	;	;	PUNCT
cblr-1707	609	30	the	the	DET
cblr-1707	609	31	gses	gse	NOUN
cblr-1707	609	32	would	would	AUX
cblr-1707	609	33	not	not	PART
cblr-1707	609	34	lend	lend	VERB
cblr-1707	609	35	reserve	reserve	NOUN
cblr-1707	609	36	balances	balance	NOUN
cblr-1707	609	37	in	in	ADP
cblr-1707	609	38	the	the	DET
cblr-1707	609	39	federal	federal	ADJ
cblr-1707	609	40	funds	fund	NOUN
cblr-1707	609	41	market	market	NOUN
cblr-1707	609	42	at	at	ADP
cblr-1707	609	43	rates	rate	NOUN
cblr-1707	609	44	below	below	ADP
cblr-1707	609	45	the	the	DET
cblr-1707	609	46	on	on	ADP
cblr-1707	609	47	-	-	PUNCT
cblr-1707	609	48	rrp	rrp	NOUN
cblr-1707	609	49	rate	rate	NOUN
cblr-1707	609	50	.	.	PUNCT
cblr-1707	610	1	but	but	CCONJ
cblr-1707	610	2	the	the	DET
cblr-1707	610	3	federal	federal	PROPN
cblr-1707	610	4	reserve	reserve	PROPN
cblr-1707	610	5	has	have	AUX
cblr-1707	610	6	accepted	accept	VERB
cblr-1707	610	7	into	into	ADP
cblr-1707	610	8	its	its	PRON
cblr-1707	610	9	on	on	ADP
cblr-1707	610	10	-	-	PUNCT
cblr-1707	610	11	rrp	rrp	NOUN
cblr-1707	610	12	facility	facility	NOUN
cblr-1707	610	13	over	over	ADP
cblr-1707	610	14	one	one	NUM
cblr-1707	610	15	hundred	hundred	NUM
cblr-1707	610	16	counterparties	counterpartie	NOUN
cblr-1707	610	17	—	—	PUNCT
cblr-1707	610	18	including	include	VERB
cblr-1707	610	19	,	,	PUNCT
cblr-1707	610	20	for	for	ADP
cblr-1707	610	21	example	example	NOUN
cblr-1707	610	22	,	,	PUNCT
cblr-1707	610	23	money	money	NOUN
cblr-1707	610	24	market	market	NOUN
cblr-1707	610	25	mutual	mutual	ADJ
cblr-1707	610	26	funds	fund	NOUN
cblr-1707	610	27	—	—	PUNCT
cblr-1707	610	28	that	that	PRON
cblr-1707	610	29	are	be	AUX
cblr-1707	610	30	neither	neither	CCONJ
cblr-1707	610	31	commercial	commercial	ADJ
cblr-1707	610	32	banks	bank	NOUN
cblr-1707	610	33	nor	nor	CCONJ
cblr-1707	610	34	gses.96	gses.96	VERB
cblr-1707	610	35	these	these	DET
cblr-1707	610	36	institutions	institution	NOUN
cblr-1707	610	37	are	be	AUX
cblr-1707	610	38	ineligible	ineligible	ADJ
cblr-1707	610	39	to	to	PART
cblr-1707	610	40	own	own	VERB
cblr-1707	610	41	reserve	reserve	NOUN
cblr-1707	610	42	balances	balance	NOUN
cblr-1707	610	43	and	and	CCONJ
cblr-1707	610	44	hence	hence	ADV
cblr-1707	610	45	do	do	AUX
cblr-1707	610	46	not	not	PART
cblr-1707	610	47	participate	participate	VERB
cblr-1707	610	48	in	in	ADP
cblr-1707	610	49	the	the	DET
cblr-1707	610	50	federal	federal	ADJ
cblr-1707	610	51	funds	fund	NOUN
cblr-1707	610	52	market	market	NOUN
cblr-1707	610	53	,	,	PUNCT
cblr-1707	610	54	so	so	CCONJ
cblr-1707	610	55	it	it	PRON
cblr-1707	610	56	is	be	AUX
cblr-1707	610	57	doubtful	doubtful	ADJ
cblr-1707	610	58	that	that	SCONJ
cblr-1707	610	59	their	their	PRON
cblr-1707	610	60	inclusion	inclusion	NOUN
cblr-1707	610	61	can	can	AUX
cblr-1707	610	62	be	be	AUX
cblr-1707	610	63	justified	justify	VERB
cblr-1707	610	64	by	by	ADP
cblr-1707	610	65	reference	reference	NOUN
cblr-1707	610	66	to	to	ADP
cblr-1707	610	67	the	the	DET
cblr-1707	610	68	federal	federal	ADJ
cblr-1707	610	69	funds	fund	NOUN
cblr-1707	610	70	rate	rate	NOUN
cblr-1707	610	71	.	.	PUNCT
cblr-1707	611	1	94	94	NUM
cblr-1707	611	2	see	see	VERB
cblr-1707	611	3	josh	josh	PROPN
cblr-1707	611	4	frost	frost	PROPN
cblr-1707	611	5	,	,	PUNCT
cblr-1707	611	6	lorie	lorie	PROPN
cblr-1707	611	7	logan	logan	PROPN
cblr-1707	611	8	,	,	PUNCT
cblr-1707	611	9	antoine	antoine	PROPN
cblr-1707	611	10	martin	martin	PROPN
cblr-1707	611	11	,	,	PUNCT
cblr-1707	611	12	patrick	patrick	PROPN
cblr-1707	611	13	mccabe	mccabe	PROPN
cblr-1707	611	14	,	,	PUNCT
cblr-1707	611	15	fabio	fabio	PROPN
cblr-1707	611	16	natalucci	natalucci	PROPN
cblr-1707	611	17	&	&	CCONJ
cblr-1707	611	18	julie	julie	PROPN
cblr-1707	611	19	remache	remache	PROPN
cblr-1707	611	20	,	,	PUNCT
cblr-1707	611	21	overnight	overnight	ADV
cblr-1707	611	22	rrp	rrp	PROPN
cblr-1707	611	23	operations	operation	NOUN
cblr-1707	611	24	as	as	ADP
cblr-1707	611	25	a	a	DET
cblr-1707	611	26	monetary	monetary	ADJ
cblr-1707	611	27	policy	policy	NOUN
cblr-1707	611	28	tool	tool	NOUN
cblr-1707	611	29	:	:	PUNCT
cblr-1707	611	30	some	some	DET
cblr-1707	611	31	design	design	NOUN
cblr-1707	611	32	considerations	consideration	NOUN
cblr-1707	611	33	10	10	NUM
cblr-1707	611	34	(	(	PUNCT
cblr-1707	611	35	fin	fin	NOUN
cblr-1707	611	36	.	.	PROPN
cblr-1707	611	37	&	&	CCONJ
cblr-1707	611	38	econ	econ	PROPN
cblr-1707	611	39	.	.	PUNCT
cblr-1707	612	1	discussion	discussion	NOUN
cblr-1707	612	2	series	series	PROPN
cblr-1707	612	3	,	,	PUNCT
cblr-1707	612	4	working	working	NOUN
cblr-1707	612	5	paper	paper	NOUN
cblr-1707	612	6	no	no	NOUN
cblr-1707	612	7	.	.	PROPN
cblr-1707	612	8	2015	2015	NUM
cblr-1707	612	9	-	-	SYM
cblr-1707	612	10	010	010	NUM
cblr-1707	612	11	,	,	PUNCT
cblr-1707	612	12	2015	2015	NUM
cblr-1707	612	13	)	)	PUNCT
cblr-1707	612	14	.	.	PUNCT
cblr-1707	613	1	95	95	NUM
cblr-1707	613	2	see	see	VERB
cblr-1707	613	3	,	,	PUNCT
cblr-1707	613	4	e.g.	e.g.	ADV
cblr-1707	613	5	,	,	PUNCT
cblr-1707	613	6	bd	bd	PROPN
cblr-1707	613	7	.	.	PROPN
cblr-1707	613	8	of	of	ADP
cblr-1707	613	9	governors	governor	NOUN
cblr-1707	613	10	of	of	ADP
cblr-1707	613	11	the	the	DET
cblr-1707	613	12	fed	fed	PROPN
cblr-1707	613	13	.	.	PUNCT
cblr-1707	614	1	reserve	reserve	PROPN
cblr-1707	614	2	sys	sys	PROPN
cblr-1707	614	3	.	.	PROPN
cblr-1707	614	4	,	,	PUNCT
cblr-1707	614	5	overnight	overnight	ADV
cblr-1707	614	6	reverse	reverse	NOUN
cblr-1707	614	7	repurchase	repurchase	VERB
cblr-1707	614	8	agreement	agreement	NOUN
cblr-1707	614	9	facility	facility	NOUN
cblr-1707	614	10	,	,	PUNCT
cblr-1707	614	11	fed	fed	PROPN
cblr-1707	614	12	.	.	PUNCT
cblr-1707	615	1	res	re	NOUN
cblr-1707	615	2	.	.	PUNCT
cblr-1707	616	1	https://www.federalreserve.gov/monetarypolicy/overnight-reverserepurchase-agreements.htm	https://www.federalreserve.gov/monetarypolicy/overnight-reverserepurchase-agreements.htm	PROPN
cblr-1707	617	1	[	[	X
cblr-1707	617	2	https://perma.cc/lr6g-zy47	https://perma.cc/lr6g-zy47	X
cblr-1707	617	3	]	]	X
cblr-1707	617	4	(	(	PUNCT
cblr-1707	617	5	last	last	ADJ
cblr-1707	617	6	updated	update	VERB
cblr-1707	617	7	jan	jan	PROPN
cblr-1707	617	8	.	.	PROPN
cblr-1707	617	9	3	3	NUM
cblr-1707	617	10	,	,	PUNCT
cblr-1707	617	11	2018	2018	NUM
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cblr-1707	617	13	(	(	PUNCT
cblr-1707	617	14	describing	describe	VERB
cblr-1707	617	15	the	the	DET
cblr-1707	617	16	on	on	ADP
cblr-1707	617	17	-	-	PUNCT
cblr-1707	617	18	rrp	rrp	NOUN
cblr-1707	617	19	facility	facility	NOUN
cblr-1707	617	20	as	as	ADP
cblr-1707	617	21	“	"	PUNCT
cblr-1707	617	22	a	a	DET
cblr-1707	617	23	supplementary	supplementary	ADJ
cblr-1707	617	24	policy	policy	NOUN
cblr-1707	617	25	tool	tool	NOUN
cblr-1707	617	26	to	to	PART
cblr-1707	617	27	help	help	VERB
cblr-1707	617	28	control	control	VERB
cblr-1707	617	29	the	the	DET
cblr-1707	617	30	federal	federal	ADJ
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cblr-1707	617	32	rate	rate	NOUN
cblr-1707	617	33	[	[	X
cblr-1707	617	34	.	.	X
cblr-1707	617	35	]	]	X
cblr-1707	617	36	”	"	PUNCT
cblr-1707	617	37	)	)	PUNCT
cblr-1707	617	38	.	.	PUNCT
cblr-1707	618	1	96	96	NUM
cblr-1707	618	2	for	for	ADP
cblr-1707	618	3	the	the	DET
cblr-1707	618	4	list	list	NOUN
cblr-1707	618	5	of	of	ADP
cblr-1707	618	6	approved	approve	VERB
cblr-1707	618	7	on	on	ADP
cblr-1707	618	8	-	-	PUNCT
cblr-1707	618	9	rrp	rrp	NOUN
cblr-1707	618	10	counterparties	counterpartie	NOUN
cblr-1707	618	11	,	,	PUNCT
cblr-1707	618	12	see	see	VERB
cblr-1707	618	13	reverse	reverse	NOUN
cblr-1707	618	14	repo	repo	ADP
cblr-1707	618	15	counterparties	counterpartie	NOUN
cblr-1707	618	16	,	,	PUNCT
cblr-1707	618	17	fed	fed	PROPN
cblr-1707	618	18	.	.	PUNCT
cblr-1707	619	1	res	res	PROPN
cblr-1707	619	2	.	.	PUNCT
cblr-1707	619	3	bank	bank	PROPN
cblr-1707	619	4	of	of	ADP
cblr-1707	619	5	n.y	n.y	PROPN
cblr-1707	619	6	.	.	PROPN
cblr-1707	619	7	,	,	PUNCT
cblr-1707	619	8	https://www.newyorkfed.org/markets/rrp_counterparties.html	https://www.newyorkfed.org/markets/rrp_counterparties.html	PROPN
cblr-1707	620	1	[	[	X
cblr-1707	620	2	https://perma.cc/5juu-mj4f	https://perma.cc/5juu-mj4f	X
cblr-1707	620	3	]	]	X
cblr-1707	620	4	.	.	PUNCT
cblr-1707	621	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	621	2	792	792	NUM
cblr-1707	621	3	columbia	columbia	PROPN
cblr-1707	621	4	business	business	NOUN
cblr-1707	621	5	law	law	PROPN
cblr-1707	621	6	review	review	NOUN
cblr-1707	621	7	[	[	X
cblr-1707	621	8	vol	vol	NOUN
cblr-1707	621	9	.	.	PUNCT
cblr-1707	621	10	2018	2018	NUM
cblr-1707	621	11	figure	figure	NOUN
cblr-1707	621	12	5	5	NUM
cblr-1707	621	13	:	:	PUNCT
cblr-1707	621	14	selected	select	VERB
cblr-1707	621	15	money	money	NOUN
cblr-1707	621	16	market	market	NOUN
cblr-1707	621	17	rates	rate	NOUN
cblr-1707	621	18	and	and	CCONJ
cblr-1707	621	19	administered	administer	VERB
cblr-1707	621	20	rates97	rates97	NOUN
cblr-1707	621	21	figure	figure	NOUN
cblr-1707	621	22	5	5	NUM
cblr-1707	621	23	hints	hint	NOUN
cblr-1707	621	24	at	at	ADP
cblr-1707	621	25	a	a	DET
cblr-1707	621	26	more	more	ADV
cblr-1707	621	27	likely	likely	ADJ
cblr-1707	621	28	explanation	explanation	NOUN
cblr-1707	621	29	.	.	PUNCT
cblr-1707	622	1	rather	rather	ADV
cblr-1707	622	2	than	than	ADP
cblr-1707	622	3	being	be	AUX
cblr-1707	622	4	purely	purely	ADV
cblr-1707	622	5	about	about	ADP
cblr-1707	622	6	supporting	support	VERB
cblr-1707	622	7	the	the	DET
cblr-1707	622	8	federal	federal	ADJ
cblr-1707	622	9	funds	fund	NOUN
cblr-1707	622	10	rate	rate	NOUN
cblr-1707	622	11	,	,	PUNCT
cblr-1707	622	12	the	the	DET
cblr-1707	622	13	onrrp	onrrp	PROPN
cblr-1707	622	14	facility	facility	NOUN
cblr-1707	622	15	appears	appear	VERB
cblr-1707	622	16	to	to	PART
cblr-1707	622	17	be	be	AUX
cblr-1707	622	18	designed	design	VERB
cblr-1707	622	19	to	to	PART
cblr-1707	622	20	support	support	VERB
cblr-1707	622	21	other	other	ADJ
cblr-1707	622	22	shortterm	shortterm	PROPN
cblr-1707	622	23	market	market	NOUN
cblr-1707	622	24	interest	interest	NOUN
cblr-1707	622	25	rates	rate	NOUN
cblr-1707	622	26	.	.	PUNCT
cblr-1707	623	1	as	as	SCONJ
cblr-1707	623	2	the	the	DET
cblr-1707	623	3	figure	figure	NOUN
cblr-1707	623	4	shows	show	VERB
cblr-1707	623	5	,	,	PUNCT
cblr-1707	623	6	by	by	ADP
cblr-1707	623	7	april	april	PROPN
cblr-1707	623	8	2014	2014	NUM
cblr-1707	623	9	(	(	PUNCT
cblr-1707	623	10	by	by	ADP
cblr-1707	623	11	which	which	DET
cblr-1707	623	12	time	time	NOUN
cblr-1707	623	13	the	the	DET
cblr-1707	623	14	facility	facility	NOUN
cblr-1707	623	15	was	be	AUX
cblr-1707	623	16	operating	operate	VERB
cblr-1707	623	17	on	on	ADP
cblr-1707	623	18	a	a	DET
cblr-1707	623	19	large	large	ADJ
cblr-1707	623	20	scale	scale	NOUN
cblr-1707	623	21	)	)	PUNCT
cblr-1707	623	22	the	the	DET
cblr-1707	623	23	on	on	ADP
cblr-1707	623	24	-	-	PUNCT
cblr-1707	623	25	rrp	rrp	NOUN
cblr-1707	623	26	rate	rate	NOUN
cblr-1707	623	27	appears	appear	VERB
cblr-1707	623	28	to	to	PART
cblr-1707	623	29	have	have	AUX
cblr-1707	623	30	established	establish	VERB
cblr-1707	623	31	a	a	DET
cblr-1707	623	32	very	very	ADV
cblr-1707	623	33	firm	firm	ADJ
cblr-1707	623	34	floor	floor	NOUN
cblr-1707	623	35	under	under	ADP
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cblr-1707	623	38	treasury	treasury	PROPN
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cblr-1707	623	41	party	party	NOUN
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cblr-1707	623	44	thus	thus	ADV
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cblr-1707	623	46	alternate	alternate	ADJ
cblr-1707	623	47	explanation	explanation	NOUN
cblr-1707	623	48	for	for	ADP
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cblr-1707	623	50	on	on	ADP
cblr-1707	623	51	-	-	PUNCT
cblr-1707	623	52	rrp	rrp	NOUN
cblr-1707	623	53	facility	facility	NOUN
cblr-1707	623	54	’s	’s	PART
cblr-1707	623	55	creation	creation	NOUN
cblr-1707	623	56	is	be	AUX
cblr-1707	623	57	97	97	NUM
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cblr-1707	623	60	economic	economic	ADJ
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cblr-1707	623	62	(	(	PUNCT
cblr-1707	623	63	“	"	PUNCT
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cblr-1707	623	65	”	"	PUNCT
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cblr-1707	623	69	rate	rate	NOUN
cblr-1707	623	70	on	on	ADP
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cblr-1707	623	73	(	(	PUNCT
cblr-1707	623	74	“	"	PUNCT
cblr-1707	623	75	ioer	ioer	NOUN
cblr-1707	623	76	”	"	PUNCT
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cblr-1707	623	78	(	(	PUNCT
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cblr-1707	623	83	.	.	PUNCT
cblr-1707	624	1	res	res	PROPN
cblr-1707	624	2	.	.	PUNCT
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cblr-1707	624	4	of	of	ADP
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cblr-1707	624	8	,	,	PUNCT
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cblr-1707	625	1	[	[	X
cblr-1707	625	2	https://perma.cc/s6cf-w83k	https://perma.cc/s6cf-w83k	X
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cblr-1707	625	4	;	;	PUNCT
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cblr-1707	625	9	(	(	PUNCT
cblr-1707	625	10	“	"	PUNCT
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cblr-1707	625	12	”	"	PUNCT
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cblr-1707	625	19	(	(	PUNCT
cblr-1707	625	20	“	"	PUNCT
cblr-1707	625	21	dff	dff	NOUN
cblr-1707	625	22	”	"	PUNCT
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cblr-1707	625	24	(	(	PUNCT
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cblr-1707	625	27	,	,	PUNCT
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cblr-1707	626	1	res	res	PROPN
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cblr-1707	626	8	,	,	PUNCT
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cblr-1707	627	1	[	[	X
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cblr-1707	627	4	;	;	PUNCT
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cblr-1707	627	20	(	(	PUNCT
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cblr-1707	628	1	[	[	X
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cblr-1707	628	4	;	;	PUNCT
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cblr-1707	628	17	(	(	PUNCT
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cblr-1707	628	19	)	)	PUNCT
cblr-1707	628	20	,	,	PUNCT
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cblr-1707	630	4	.	.	PUNCT
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cblr-1707	631	8	a	a	DET
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cblr-1707	631	26	.	.	PUNCT
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cblr-1707	632	5	0.20	0.20	NUM
cblr-1707	632	6	%	%	NOUN
cblr-1707	632	7	0.30	0.30	NUM
cblr-1707	632	8	%	%	NOUN
cblr-1707	632	9	0.40	0.40	NUM
cblr-1707	632	10	%	%	NOUN
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cblr-1707	632	15	(	(	PUNCT
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cblr-1707	632	17	)	)	PUNCT
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cblr-1707	632	33	(	(	PUNCT
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cblr-1707	633	15	the	the	DET
cblr-1707	633	16	federal	federal	ADJ
cblr-1707	633	17	funds	fund	NOUN
cblr-1707	633	18	rate	rate	NOUN
cblr-1707	633	19	to	to	ADP
cblr-1707	633	20	other	other	ADJ
cblr-1707	633	21	money	money	NOUN
cblr-1707	633	22	market	market	NOUN
cblr-1707	633	23	rates	rate	NOUN
cblr-1707	633	24	(	(	PUNCT
cblr-1707	633	25	such	such	ADJ
cblr-1707	633	26	as	as	ADP
cblr-1707	633	27	triparty	triparty	NOUN
cblr-1707	633	28	repo	repo	ADP
cblr-1707	633	29	rates	rate	NOUN
cblr-1707	633	30	)	)	PUNCT
cblr-1707	633	31	.	.	PUNCT
cblr-1707	634	1	the	the	DET
cblr-1707	634	2	on	on	ADP
cblr-1707	634	3	-	-	PUNCT
cblr-1707	634	4	rrp	rrp	NOUN
cblr-1707	634	5	facility	facility	NOUN
cblr-1707	634	6	allowed	allow	VERB
cblr-1707	634	7	the	the	DET
cblr-1707	634	8	fed	fed	PROPN
cblr-1707	634	9	to	to	PART
cblr-1707	634	10	bypass	bypass	VERB
cblr-1707	634	11	holders	holder	NOUN
cblr-1707	634	12	of	of	ADP
cblr-1707	634	13	reserve	reserve	NOUN
cblr-1707	634	14	balances	balance	NOUN
cblr-1707	634	15	and	and	CCONJ
cblr-1707	634	16	provide	provide	VERB
cblr-1707	634	17	administered	administer	VERB
cblr-1707	634	18	rates	rate	NOUN
cblr-1707	634	19	directly	directly	ADV
cblr-1707	634	20	to	to	ADP
cblr-1707	634	21	a	a	DET
cblr-1707	634	22	broad	broad	ADJ
cblr-1707	634	23	array	array	NOUN
cblr-1707	634	24	of	of	ADP
cblr-1707	634	25	other	other	ADJ
cblr-1707	634	26	market	market	NOUN
cblr-1707	634	27	participants	participant	NOUN
cblr-1707	634	28	.	.	PUNCT
cblr-1707	635	1	again	again	ADV
cblr-1707	635	2	,	,	PUNCT
cblr-1707	635	3	if	if	SCONJ
cblr-1707	635	4	the	the	DET
cblr-1707	635	5	exclusive	exclusive	ADJ
cblr-1707	635	6	goal	goal	NOUN
cblr-1707	635	7	had	have	AUX
cblr-1707	635	8	been	be	AUX
cblr-1707	635	9	to	to	PART
cblr-1707	635	10	support	support	VERB
cblr-1707	635	11	the	the	DET
cblr-1707	635	12	federal	federal	ADJ
cblr-1707	635	13	funds	fund	NOUN
cblr-1707	635	14	rate	rate	NOUN
cblr-1707	635	15	,	,	PUNCT
cblr-1707	635	16	no	no	DET
cblr-1707	635	17	such	such	ADJ
cblr-1707	635	18	bypassing	bypassing	NOUN
cblr-1707	635	19	would	would	AUX
cblr-1707	635	20	have	have	AUX
cblr-1707	635	21	been	be	AUX
cblr-1707	635	22	needed	need	VERB
cblr-1707	635	23	:	:	PUNCT
cblr-1707	635	24	the	the	DET
cblr-1707	635	25	federal	federal	PROPN
cblr-1707	635	26	reserve	reserve	PROPN
cblr-1707	635	27	would	would	AUX
cblr-1707	635	28	have	have	AUX
cblr-1707	635	29	supplied	supply	VERB
cblr-1707	635	30	the	the	DET
cblr-1707	635	31	on	on	ADP
cblr-1707	635	32	-	-	PUNCT
cblr-1707	635	33	rrp	rrp	NOUN
cblr-1707	635	34	facility	facility	NOUN
cblr-1707	635	35	to	to	ADP
cblr-1707	635	36	the	the	DET
cblr-1707	635	37	gses	gse	NOUN
cblr-1707	635	38	and	and	CCONJ
cblr-1707	635	39	no	no	DET
cblr-1707	635	40	one	one	NOUN
cblr-1707	635	41	else	else	ADV
cblr-1707	635	42	.	.	PUNCT
cblr-1707	636	1	but	but	CCONJ
cblr-1707	636	2	why	why	SCONJ
cblr-1707	636	3	is	be	AUX
cblr-1707	636	4	n’t	n’t	ADJ
cblr-1707	636	5	ioer	ioer	NOUN
cblr-1707	636	6	alone	alone	ADV
cblr-1707	636	7	sufficient	sufficient	ADJ
cblr-1707	636	8	to	to	PART
cblr-1707	636	9	support	support	VERB
cblr-1707	636	10	all	all	DET
cblr-1707	636	11	money	money	NOUN
cblr-1707	636	12	market	market	NOUN
cblr-1707	636	13	rates	rate	NOUN
cblr-1707	636	14	?	?	PUNCT
cblr-1707	637	1	it	it	PRON
cblr-1707	637	2	was	be	AUX
cblr-1707	637	3	widely	widely	ADV
cblr-1707	637	4	assumed	assume	VERB
cblr-1707	637	5	it	it	PRON
cblr-1707	637	6	would	would	AUX
cblr-1707	637	7	be	be	AUX
cblr-1707	637	8	.	.	PUNCT
cblr-1707	638	1	for	for	ADP
cblr-1707	638	2	example	example	NOUN
cblr-1707	638	3	,	,	PUNCT
cblr-1707	638	4	in	in	ADP
cblr-1707	638	5	his	his	PRON
cblr-1707	638	6	seminal	seminal	ADJ
cblr-1707	638	7	2003	2003	NUM
cblr-1707	638	8	tract	tract	NOUN
cblr-1707	638	9	on	on	ADP
cblr-1707	638	10	monetary	monetary	ADJ
cblr-1707	638	11	policy	policy	NOUN
cblr-1707	638	12	,	,	PUNCT
cblr-1707	638	13	macroeconomist	macroeconomist	NOUN
cblr-1707	638	14	michael	michael	PROPN
cblr-1707	638	15	woodford	woodford	PROPN
cblr-1707	638	16	wrote	write	VERB
cblr-1707	638	17	that	that	SCONJ
cblr-1707	638	18	“	"	PUNCT
cblr-1707	638	19	the	the	DET
cblr-1707	638	20	nominal	nominal	ADJ
cblr-1707	638	21	interest	interest	NOUN
cblr-1707	638	22	yield	yield	NOUN
cblr-1707	638	23	on	on	ADP
cblr-1707	638	24	clearing	clear	VERB
cblr-1707	638	25	balances	balance	NOUN
cblr-1707	638	26	at	at	ADP
cblr-1707	638	27	the	the	DET
cblr-1707	638	28	central	central	ADJ
cblr-1707	638	29	bank	bank	NOUN
cblr-1707	638	30	can	can	AUX
cblr-1707	638	31	determine	determine	VERB
cblr-1707	638	32	overnight	overnight	ADJ
cblr-1707	638	33	rates	rate	NOUN
cblr-1707	638	34	in	in	ADP
cblr-1707	638	35	the	the	DET
cblr-1707	638	36	market	market	NOUN
cblr-1707	638	37	as	as	ADP
cblr-1707	638	38	a	a	DET
cblr-1707	638	39	whole	whole	NOUN
cblr-1707	638	40	.	.	PUNCT
cblr-1707	639	1	”99	”99	PROPN
cblr-1707	640	1	his	his	PRON
cblr-1707	640	2	reasoning	reasoning	NOUN
cblr-1707	640	3	:	:	PUNCT
cblr-1707	641	1	[	[	X
cblr-1707	641	2	a	a	X
cblr-1707	641	3	]	]	X
cblr-1707	641	4	central	central	ADJ
cblr-1707	641	5	bank	bank	NOUN
cblr-1707	641	6	[	[	X
cblr-1707	641	7	can	can	AUX
cblr-1707	641	8	]	]	PUNCT
cblr-1707	641	9	determine	determine	VERB
cblr-1707	641	10	the	the	DET
cblr-1707	641	11	interest	interest	NOUN
cblr-1707	641	12	rate	rate	NOUN
cblr-1707	641	13	on	on	ADP
cblr-1707	641	14	overnight	overnight	ADJ
cblr-1707	641	15	deposits	deposit	NOUN
cblr-1707	641	16	at	at	ADP
cblr-1707	641	17	the	the	DET
cblr-1707	641	18	central	central	ADJ
cblr-1707	641	19	bank	bank	NOUN
cblr-1707	641	20	,	,	PUNCT
cblr-1707	641	21	and	and	CCONJ
cblr-1707	641	22	thus	thus	ADV
cblr-1707	641	23	the	the	DET
cblr-1707	641	24	interest	interest	NOUN
cblr-1707	641	25	rate	rate	NOUN
cblr-1707	641	26	in	in	ADP
cblr-1707	641	27	the	the	DET
cblr-1707	641	28	interbank	interbank	NOUN
cblr-1707	641	29	market	market	NOUN
cblr-1707	641	30	for	for	ADP
cblr-1707	641	31	such	such	ADJ
cblr-1707	641	32	claims	claim	NOUN
cblr-1707	641	33	.	.	PUNCT
cblr-1707	641	34	.	.	PUNCT
cblr-1707	641	35	.	.	PUNCT
cblr-1707	641	36	.	.	PUNCT
cblr-1707	642	1	but	but	CCONJ
cblr-1707	642	2	would	would	AUX
cblr-1707	642	3	control	control	VERB
cblr-1707	642	4	of	of	ADP
cblr-1707	642	5	this	this	DET
cblr-1707	642	6	interest	interest	NOUN
cblr-1707	642	7	rate	rate	NOUN
cblr-1707	642	8	necessarily	necessarily	ADV
cblr-1707	642	9	have	have	VERB
cblr-1707	642	10	consequences	consequence	NOUN
cblr-1707	642	11	for	for	ADP
cblr-1707	642	12	other	other	ADJ
cblr-1707	642	13	market	market	NOUN
cblr-1707	642	14	rates	rate	NOUN
cblr-1707	642	15	,	,	PUNCT
cblr-1707	642	16	the	the	DET
cblr-1707	642	17	ones	one	NOUN
cblr-1707	642	18	that	that	PRON
cblr-1707	642	19	matter	matter	VERB
cblr-1707	642	20	for	for	ADP
cblr-1707	642	21	critical	critical	ADJ
cblr-1707	642	22	intertemporal	intertemporal	ADJ
cblr-1707	642	23	decisions	decision	NOUN
cblr-1707	642	24	such	such	ADJ
cblr-1707	642	25	as	as	ADP
cblr-1707	642	26	investment	investment	NOUN
cblr-1707	642	27	spending	spending	NOUN
cblr-1707	642	28	?	?	PUNCT
cblr-1707	643	1	the	the	DET
cblr-1707	643	2	answer	answer	NOUN
cblr-1707	643	3	is	be	AUX
cblr-1707	643	4	that	that	SCONJ
cblr-1707	643	5	it	it	PRON
cblr-1707	643	6	must	must	AUX
cblr-1707	643	7	—	—	PUNCT
cblr-1707	643	8	and	and	CCONJ
cblr-1707	643	9	all	all	DET
cblr-1707	643	10	the	the	DET
cblr-1707	643	11	more	more	ADV
cblr-1707	643	12	so	so	ADV
cblr-1707	643	13	in	in	ADP
cblr-1707	643	14	a	a	DET
cblr-1707	643	15	world	world	NOUN
cblr-1707	643	16	in	in	ADP
cblr-1707	643	17	which	which	PRON
cblr-1707	643	18	financial	financial	ADJ
cblr-1707	643	19	markets	market	NOUN
cblr-1707	643	20	have	have	AUX
cblr-1707	643	21	become	become	VERB
cblr-1707	643	22	highly	highly	ADV
cblr-1707	643	23	efficient	efficient	ADJ
cblr-1707	643	24	,	,	PUNCT
cblr-1707	643	25	so	so	SCONJ
cblr-1707	643	26	that	that	SCONJ
cblr-1707	643	27	arbitrage	arbitrage	NOUN
cblr-1707	643	28	opportunities	opportunity	NOUN
cblr-1707	643	29	created	create	VERB
cblr-1707	643	30	by	by	ADP
cblr-1707	643	31	discrepancies	discrepancy	NOUN
cblr-1707	643	32	among	among	ADP
cblr-1707	643	33	the	the	DET
cblr-1707	643	34	yields	yield	NOUN
cblr-1707	643	35	on	on	ADP
cblr-1707	643	36	different	different	ADJ
cblr-1707	643	37	market	market	NOUN
cblr-1707	643	38	instruments	instrument	NOUN
cblr-1707	643	39	are	be	AUX
cblr-1707	643	40	immediately	immediately	ADV
cblr-1707	643	41	eliminated	eliminate	VERB
cblr-1707	643	42	.	.	PUNCT
cblr-1707	644	1	equally	equally	ADV
cblr-1707	644	2	riskless	riskless	ADJ
cblr-1707	644	3	short	short	ADJ
cblr-1707	644	4	-	-	PUNCT
cblr-1707	644	5	term	term	NOUN
cblr-1707	644	6	claims	claim	NOUN
cblr-1707	644	7	issued	issue	VERB
cblr-1707	644	8	by	by	ADP
cblr-1707	644	9	the	the	DET
cblr-1707	644	10	private	private	ADJ
cblr-1707	644	11	sector	sector	NOUN
cblr-1707	644	12	(	(	PUNCT
cblr-1707	644	13	say	say	INTJ
cblr-1707	644	14	,	,	PUNCT
cblr-1707	644	15	shares	share	NOUN
cblr-1707	644	16	in	in	ADP
cblr-1707	644	17	a	a	DET
cblr-1707	644	18	money	money	NOUN
cblr-1707	644	19	-	-	PUNCT
cblr-1707	644	20	market	market	NOUN
cblr-1707	644	21	mutual	mutual	ADJ
cblr-1707	644	22	fund	fund	NOUN
cblr-1707	644	23	holding	hold	VERB
cblr-1707	644	24	very	very	ADV
cblr-1707	644	25	short	short	ADJ
cblr-1707	644	26	-	-	PUNCT
cblr-1707	644	27	term	term	NOUN
cblr-1707	644	28	treasury	treasury	NOUN
cblr-1707	644	29	bills	bill	NOUN
cblr-1707	644	30	)	)	PUNCT
cblr-1707	644	31	would	would	AUX
cblr-1707	644	32	not	not	PART
cblr-1707	644	33	be	be	AUX
cblr-1707	644	34	able	able	ADJ
cblr-1707	644	35	to	to	PART
cblr-1707	644	36	promise	promise	VERB
cblr-1707	644	37	a	a	DET
cblr-1707	644	38	different	different	ADJ
cblr-1707	644	39	interest	interest	NOUN
cblr-1707	644	40	rate	rate	NOUN
cblr-1707	644	41	than	than	ADP
cblr-1707	644	42	the	the	DET
cblr-1707	644	43	one	one	NOUN
cblr-1707	644	44	available	available	ADJ
cblr-1707	644	45	on	on	ADP
cblr-1707	644	46	deposits	deposit	NOUN
cblr-1707	644	47	at	at	ADP
cblr-1707	644	48	the	the	DET
cblr-1707	644	49	central	central	ADJ
cblr-1707	644	50	bank	bank	NOUN
cblr-1707	644	51	;	;	PUNCT
cblr-1707	644	52	otherwise	otherwise	ADV
cblr-1707	644	53	,	,	PUNCT
cblr-1707	644	54	there	there	PRON
cblr-1707	644	55	would	would	AUX
cblr-1707	644	56	be	be	AUX
cblr-1707	644	57	an	an	DET
cblr-1707	644	58	excess	excess	ADJ
cblr-1707	644	59	supply	supply	NOUN
cblr-1707	644	60	or	or	CCONJ
cblr-1707	644	61	demand	demand	NOUN
cblr-1707	644	62	for	for	ADP
cblr-1707	644	63	the	the	DET
cblr-1707	644	64	private	private	ADJ
cblr-1707	644	65	-	-	PUNCT
cblr-1707	644	66	sector	sector	NOUN
cblr-1707	644	67	instruments.100	instruments.100	PROPN
cblr-1707	644	68	99	99	NUM
cblr-1707	644	69	michael	michael	PROPN
cblr-1707	644	70	woodford	woodford	PROPN
cblr-1707	644	71	,	,	PUNCT
cblr-1707	644	72	interest	interest	NOUN
cblr-1707	644	73	and	and	CCONJ
cblr-1707	644	74	prices	price	NOUN
cblr-1707	644	75	:	:	PUNCT
cblr-1707	644	76	foundations	foundation	NOUN
cblr-1707	644	77	of	of	ADP
cblr-1707	644	78	a	a	DET
cblr-1707	644	79	theory	theory	NOUN
cblr-1707	644	80	of	of	ADP
cblr-1707	644	81	monetary	monetary	ADJ
cblr-1707	644	82	policy	policy	NOUN
cblr-1707	644	83	35	35	NUM
cblr-1707	644	84	(	(	PUNCT
cblr-1707	644	85	2003	2003	NUM
cblr-1707	644	86	)	)	PUNCT
cblr-1707	644	87	(	(	PUNCT
cblr-1707	644	88	emphasis	emphasis	NOUN
cblr-1707	644	89	added	add	VERB
cblr-1707	644	90	)	)	PUNCT
cblr-1707	644	91	.	.	PUNCT
cblr-1707	645	1	100	100	NUM
cblr-1707	646	1	i	i	PRON
cblr-1707	646	2	d.	d.	NOUN
cblr-1707	646	3	at	at	ADP
cblr-1707	646	4	36–37	36–37	PROPN
cblr-1707	646	5	(	(	PUNCT
cblr-1707	646	6	emphasis	emphasis	NOUN
cblr-1707	646	7	added	add	VERB
cblr-1707	646	8	)	)	PUNCT
cblr-1707	646	9	.	.	PUNCT
cblr-1707	647	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	647	2	794	794	NUM
cblr-1707	647	3	columbia	columbia	PROPN
cblr-1707	647	4	business	business	NOUN
cblr-1707	647	5	law	law	PROPN
cblr-1707	647	6	review	review	NOUN
cblr-1707	647	7	[	[	X
cblr-1707	647	8	vol	vol	NOUN
cblr-1707	647	9	.	.	NOUN
cblr-1707	647	10	2018	2018	NUM
cblr-1707	647	11	it	it	PRON
cblr-1707	647	12	is	be	AUX
cblr-1707	647	13	now	now	ADV
cblr-1707	647	14	clear	clear	ADJ
cblr-1707	647	15	that	that	SCONJ
cblr-1707	647	16	the	the	DET
cblr-1707	647	17	real	real	ADJ
cblr-1707	647	18	world	world	NOUN
cblr-1707	647	19	does	do	AUX
cblr-1707	647	20	not	not	PART
cblr-1707	647	21	work	work	VERB
cblr-1707	647	22	this	this	DET
cblr-1707	647	23	way	way	NOUN
cblr-1707	647	24	,	,	PUNCT
cblr-1707	647	25	and	and	CCONJ
cblr-1707	647	26	it	it	PRON
cblr-1707	647	27	is	be	AUX
cblr-1707	647	28	important	important	ADJ
cblr-1707	647	29	to	to	PART
cblr-1707	647	30	try	try	VERB
cblr-1707	647	31	to	to	PART
cblr-1707	647	32	understand	understand	VERB
cblr-1707	647	33	why	why	SCONJ
cblr-1707	647	34	.	.	PUNCT
cblr-1707	648	1	in	in	ADP
cblr-1707	648	2	a	a	DET
cblr-1707	648	3	recent	recent	ADJ
cblr-1707	648	4	paper	paper	NOUN
cblr-1707	648	5	that	that	PRON
cblr-1707	648	6	has	have	AUX
cblr-1707	648	7	been	be	AUX
cblr-1707	648	8	widely	widely	ADV
cblr-1707	648	9	discussed	discuss	VERB
cblr-1707	648	10	in	in	ADP
cblr-1707	648	11	central	central	ADJ
cblr-1707	648	12	banking	banking	NOUN
cblr-1707	648	13	circles	circle	NOUN
cblr-1707	648	14	,	,	PUNCT
cblr-1707	648	15	stanford	stanford	PROPN
cblr-1707	648	16	economists	economists	PROPN
cblr-1707	648	17	darrell	darrell	PROPN
cblr-1707	648	18	duffie	duffie	PROPN
cblr-1707	648	19	and	and	CCONJ
cblr-1707	648	20	arvind	arvind	PROPN
cblr-1707	648	21	krishnamurthy	krishnamurthy	PROPN
cblr-1707	648	22	argue	argue	VERB
cblr-1707	648	23	that	that	SCONJ
cblr-1707	648	24	“	"	PUNCT
cblr-1707	648	25	the	the	DET
cblr-1707	648	26	current	current	ADJ
cblr-1707	648	27	setting	setting	NOUN
cblr-1707	648	28	of	of	ADP
cblr-1707	648	29	u.s.-dollar	u.s.-dollar	ADJ
cblr-1707	648	30	money	money	NOUN
cblr-1707	648	31	markets	market	NOUN
cblr-1707	648	32	limits	limit	VERB
cblr-1707	648	33	the	the	DET
cblr-1707	648	34	passthrough	passthrough	NOUN
cblr-1707	648	35	effectiveness	effectiveness	NOUN
cblr-1707	648	36	of	of	ADP
cblr-1707	648	37	the	the	DET
cblr-1707	648	38	federal	federal	PROPN
cblr-1707	648	39	reserve	reserve	PROPN
cblr-1707	648	40	’s	’s	PART
cblr-1707	648	41	monetary	monetary	ADJ
cblr-1707	648	42	policy	policy	NOUN
cblr-1707	648	43	.	.	PUNCT
cblr-1707	649	1	”101	”101	NOUN
cblr-1707	650	1	they	they	PRON
cblr-1707	650	2	focus	focus	VERB
cblr-1707	650	3	in	in	ADP
cblr-1707	650	4	particular	particular	ADJ
cblr-1707	650	5	on	on	ADP
cblr-1707	650	6	the	the	DET
cblr-1707	650	7	role	role	NOUN
cblr-1707	650	8	imperfect	imperfect	ADJ
cblr-1707	650	9	competition	competition	NOUN
cblr-1707	650	10	plays	play	VERB
cblr-1707	650	11	in	in	ADP
cblr-1707	650	12	limiting	limit	VERB
cblr-1707	650	13	passthrough	passthrough	NOUN
cblr-1707	650	14	.	.	PUNCT
cblr-1707	651	1	the	the	DET
cblr-1707	651	2	authors	author	NOUN
cblr-1707	651	3	summarize	summarize	VERB
cblr-1707	651	4	evidence	evidence	NOUN
cblr-1707	651	5	that	that	SCONJ
cblr-1707	651	6	bank	bank	NOUN
cblr-1707	651	7	deposit	deposit	NOUN
cblr-1707	651	8	rates	rate	NOUN
cblr-1707	651	9	respond	respond	VERB
cblr-1707	651	10	asymmetrically	asymmetrically	ADV
cblr-1707	651	11	to	to	ADP
cblr-1707	651	12	changes	change	NOUN
cblr-1707	651	13	in	in	ADP
cblr-1707	651	14	federal	federal	ADJ
cblr-1707	651	15	funds	fund	NOUN
cblr-1707	651	16	rates	rate	NOUN
cblr-1707	651	17	:	:	PUNCT
cblr-1707	651	18	when	when	SCONJ
cblr-1707	651	19	federal	federal	ADJ
cblr-1707	651	20	funds	fund	NOUN
cblr-1707	651	21	rates	rate	NOUN
cblr-1707	651	22	decline	decline	VERB
cblr-1707	651	23	,	,	PUNCT
cblr-1707	651	24	banks	bank	NOUN
cblr-1707	651	25	quickly	quickly	ADV
cblr-1707	651	26	reduce	reduce	VERB
cblr-1707	651	27	deposit	deposit	NOUN
cblr-1707	651	28	rates	rate	NOUN
cblr-1707	651	29	,	,	PUNCT
cblr-1707	651	30	but	but	CCONJ
cblr-1707	651	31	when	when	SCONJ
cblr-1707	651	32	federal	federal	ADJ
cblr-1707	651	33	funds	fund	NOUN
cblr-1707	651	34	rates	rate	NOUN
cblr-1707	651	35	increase	increase	VERB
cblr-1707	651	36	,	,	PUNCT
cblr-1707	651	37	banks	bank	NOUN
cblr-1707	651	38	are	be	AUX
cblr-1707	651	39	slow	slow	ADJ
cblr-1707	651	40	to	to	PART
cblr-1707	651	41	raise	raise	VERB
cblr-1707	651	42	deposit	deposit	NOUN
cblr-1707	651	43	rates	rate	NOUN
cblr-1707	651	44	.	.	PUNCT
cblr-1707	652	1	duffie	duffie	PROPN
cblr-1707	652	2	and	and	CCONJ
cblr-1707	652	3	krishnamurthy	krishnamurthy	PROPN
cblr-1707	652	4	develop	develop	VERB
cblr-1707	652	5	a	a	DET
cblr-1707	652	6	model	model	NOUN
cblr-1707	652	7	in	in	ADP
cblr-1707	652	8	which	which	PRON
cblr-1707	652	9	banks	bank	NOUN
cblr-1707	652	10	“	"	PUNCT
cblr-1707	652	11	exploit	exploit	VERB
cblr-1707	652	12	the	the	DET
cblr-1707	652	13	limited	limited	ADJ
cblr-1707	652	14	attention	attention	NOUN
cblr-1707	652	15	of	of	ADP
cblr-1707	652	16	their	their	PRON
cblr-1707	652	17	deposit	deposit	NOUN
cblr-1707	652	18	customers	customer	NOUN
cblr-1707	652	19	”	"	PUNCT
cblr-1707	652	20	by	by	ADP
cblr-1707	652	21	failing	fail	VERB
cblr-1707	652	22	to	to	PART
cblr-1707	652	23	fully	fully	ADV
cblr-1707	652	24	pass	pass	VERB
cblr-1707	652	25	through	through	ADP
cblr-1707	652	26	ioer.102	ioer.102	PRON
cblr-1707	652	27	importantly	importantly	ADV
cblr-1707	652	28	,	,	PUNCT
cblr-1707	652	29	in	in	ADP
cblr-1707	652	30	their	their	PRON
cblr-1707	652	31	model	model	NOUN
cblr-1707	652	32	,	,	PUNCT
cblr-1707	652	33	“	"	PUNCT
cblr-1707	652	34	limited	limited	ADJ
cblr-1707	652	35	passthrough	passthrough	NOUN
cblr-1707	652	36	into	into	ADP
cblr-1707	652	37	deposit	deposit	NOUN
cblr-1707	652	38	rates	rate	NOUN
cblr-1707	652	39	dampens	dampen	VERB
cblr-1707	652	40	passthrough	passthrough	NOUN
cblr-1707	652	41	into	into	ADP
cblr-1707	652	42	other	other	ADJ
cblr-1707	652	43	money	money	NOUN
cblr-1707	652	44	market	market	NOUN
cblr-1707	652	45	rates	rate	NOUN
cblr-1707	652	46	,	,	PUNCT
cblr-1707	652	47	such	such	ADJ
cblr-1707	652	48	as	as	ADP
cblr-1707	652	49	those	those	PRON
cblr-1707	652	50	for	for	ADP
cblr-1707	652	51	t	t	NOUN
cblr-1707	652	52	-	-	PUNCT
cblr-1707	652	53	bills	bill	NOUN
cblr-1707	652	54	or	or	CCONJ
cblr-1707	652	55	tri	tri	ADJ
cblr-1707	652	56	-	-	ADJ
cblr-1707	652	57	party	party	NOUN
cblr-1707	652	58	repo	repo	NOUN
cblr-1707	652	59	.	.	PUNCT
cblr-1707	652	60	”103	”103	PUNCT
cblr-1707	653	1	the	the	DET
cblr-1707	653	2	basic	basic	ADJ
cblr-1707	653	3	idea	idea	NOUN
cblr-1707	653	4	is	be	AUX
cblr-1707	653	5	that	that	SCONJ
cblr-1707	653	6	imperfect	imperfect	ADJ
cblr-1707	653	7	competition	competition	NOUN
cblr-1707	653	8	in	in	ADP
cblr-1707	653	9	the	the	DET
cblr-1707	653	10	deposit	deposit	NOUN
cblr-1707	653	11	market	market	NOUN
cblr-1707	653	12	suppresses	suppress	VERB
cblr-1707	653	13	deposit	deposit	NOUN
cblr-1707	653	14	rates	rate	NOUN
cblr-1707	653	15	,	,	PUNCT
cblr-1707	653	16	which	which	PRON
cblr-1707	653	17	pushes	push	VERB
cblr-1707	653	18	more	more	ADV
cblr-1707	653	19	sophisticated	sophisticated	ADJ
cblr-1707	653	20	cash	cash	NOUN
cblr-1707	653	21	investors	investor	NOUN
cblr-1707	653	22	into	into	ADP
cblr-1707	653	23	other	other	ADJ
cblr-1707	653	24	money	money	NOUN
cblr-1707	653	25	markets	market	NOUN
cblr-1707	653	26	,	,	PUNCT
cblr-1707	653	27	thereby	thereby	ADV
cblr-1707	653	28	lowering	lower	VERB
cblr-1707	653	29	yields	yield	NOUN
cblr-1707	653	30	in	in	ADP
cblr-1707	653	31	those	those	DET
cblr-1707	653	32	markets.104	markets.104	NOUN
cblr-1707	653	33	the	the	DET
cblr-1707	653	34	paper	paper	NOUN
cblr-1707	653	35	is	be	AUX
cblr-1707	653	36	highly	highly	ADV
cblr-1707	653	37	technical	technical	ADJ
cblr-1707	653	38	,	,	PUNCT
cblr-1707	653	39	but	but	CCONJ
cblr-1707	653	40	duffie	duffie	PROPN
cblr-1707	653	41	explained	explain	VERB
cblr-1707	653	42	the	the	DET
cblr-1707	653	43	core	core	NOUN
cblr-1707	653	44	takeaway	takeaway	NOUN
cblr-1707	653	45	in	in	ADP
cblr-1707	653	46	accessible	accessible	ADJ
cblr-1707	653	47	terms	term	NOUN
cblr-1707	653	48	:	:	PUNCT
cblr-1707	653	49	when	when	SCONJ
cblr-1707	653	50	the	the	DET
cblr-1707	653	51	fed	fed	PROPN
cblr-1707	653	52	starts	start	VERB
cblr-1707	653	53	paying	pay	VERB
cblr-1707	653	54	more	more	ADJ
cblr-1707	653	55	to	to	ADP
cblr-1707	653	56	banks	bank	NOUN
cblr-1707	653	57	on	on	ADP
cblr-1707	653	58	their	their	PRON
cblr-1707	653	59	central	central	ADJ
cblr-1707	653	60	bank	bank	NOUN
cblr-1707	653	61	deposits	deposit	NOUN
cblr-1707	653	62	,	,	PUNCT
cblr-1707	653	63	called	call	VERB
cblr-1707	653	64	reserves	reserve	NOUN
cblr-1707	653	65	,	,	PUNCT
cblr-1707	653	66	is	be	AUX
cblr-1707	653	67	it	it	PRON
cblr-1707	653	68	actually	actually	ADV
cblr-1707	653	69	the	the	DET
cblr-1707	653	70	case	case	NOUN
cblr-1707	653	71	that	that	SCONJ
cblr-1707	653	72	t	t	NOUN
cblr-1707	653	73	-	-	PUNCT
cblr-1707	653	74	bill	bill	NOUN
cblr-1707	653	75	rates	rate	NOUN
cblr-1707	653	76	move	move	VERB
cblr-1707	653	77	up	up	ADP
cblr-1707	653	78	,	,	PUNCT
cblr-1707	653	79	repo	repo	ADP
cblr-1707	653	80	rates	rate	NOUN
cblr-1707	653	81	move	move	VERB
cblr-1707	653	82	up	up	ADP
cblr-1707	653	83	,	,	PUNCT
cblr-1707	653	84	commercial	commercial	ADJ
cblr-1707	653	85	paper	paper	NOUN
cblr-1707	653	86	rates	rate	NOUN
cblr-1707	653	87	move	move	VERB
cblr-1707	653	88	up	up	ADP
cblr-1707	653	89	,	,	PUNCT
cblr-1707	653	90	bank	bank	NOUN
cblr-1707	653	91	deposit	deposit	NOUN
cblr-1707	653	92	rates	rate	NOUN
cblr-1707	653	93	move	move	VERB
cblr-1707	653	94	up	up	ADV
cblr-1707	653	95	,	,	PUNCT
cblr-1707	653	96	and	and	CCONJ
cblr-1707	653	97	so	so	ADV
cblr-1707	653	98	on	on	ADV
cblr-1707	653	99	?	?	PUNCT
cblr-1707	654	1	if	if	SCONJ
cblr-1707	654	2	they	they	PRON
cblr-1707	654	3	do	do	VERB
cblr-1707	654	4	n’t	not	PART
cblr-1707	654	5	,	,	PUNCT
cblr-1707	654	6	then	then	ADV
cblr-1707	654	7	those	those	DET
cblr-1707	654	8	decisions	decision	NOUN
cblr-1707	654	9	wo	will	AUX
cblr-1707	654	10	n’t	not	PART
cblr-1707	654	11	actually	actually	ADV
cblr-1707	654	12	get	get	AUX
cblr-1707	654	13	passed	pass	VERB
cblr-1707	654	14	through	through	ADP
cblr-1707	654	15	into	into	ADP
cblr-1707	654	16	the	the	DET
cblr-1707	654	17	broader	broad	ADJ
cblr-1707	654	18	economy	economy	NOUN
cblr-1707	654	19	and	and	CCONJ
cblr-1707	654	20	have	have	VERB
cblr-1707	654	21	the	the	DET
cblr-1707	654	22	impact	impact	NOUN
cblr-1707	654	23	on	on	ADP
cblr-1707	654	24	inflation	inflation	NOUN
cblr-1707	654	25	that	that	PRON
cblr-1707	654	26	the	the	DET
cblr-1707	654	27	fed	fed	PROPN
cblr-1707	654	28	’s	’s	AUX
cblr-1707	654	29	looking	look	VERB
cblr-1707	654	30	for	for	ADP
cblr-1707	654	31	.	.	PUNCT
cblr-1707	655	1	101	101	NUM
cblr-1707	655	2	darrell	darrell	PROPN
cblr-1707	655	3	duffie	duffie	PROPN
cblr-1707	655	4	&	&	CCONJ
cblr-1707	655	5	arvind	arvind	PROPN
cblr-1707	655	6	krishnamurthy	krishnamurthy	PROPN
cblr-1707	655	7	,	,	PUNCT
cblr-1707	655	8	passthrough	passthrough	NOUN
cblr-1707	655	9	efficiency	efficiency	NOUN
cblr-1707	655	10	in	in	ADP
cblr-1707	655	11	the	the	DET
cblr-1707	655	12	fed	fed	PROPN
cblr-1707	655	13	’s	’s	PART
cblr-1707	655	14	new	new	ADJ
cblr-1707	655	15	monetary	monetary	ADJ
cblr-1707	655	16	policy	policy	NOUN
cblr-1707	655	17	setting	set	VERB
cblr-1707	655	18	1	1	NUM
cblr-1707	655	19	(	(	PUNCT
cblr-1707	655	20	2016	2016	NUM
cblr-1707	655	21	)	)	PUNCT
cblr-1707	655	22	(	(	PUNCT
cblr-1707	655	23	unpublished	unpublished	ADJ
cblr-1707	655	24	manuscript	manuscript	NOUN
cblr-1707	655	25	)	)	PUNCT
cblr-1707	655	26	(	(	PUNCT
cblr-1707	655	27	available	available	ADJ
cblr-1707	655	28	at	at	ADP
cblr-1707	655	29	https://www.gsb.stanford.edu/sites/gsb/files/publicationpdf/jh-september-8-2016-bw.pdf	https://www.gsb.stanford.edu/sites/gsb/files/publicationpdf/jh-september-8-2016-bw.pdf	X
cblr-1707	655	30	[	[	X
cblr-1707	655	31	https://perma.cc/c5g7-j63q	https://perma.cc/c5g7-j63q	PROPN
cblr-1707	655	32	]	]	X
cblr-1707	655	33	.	.	PUNCT
cblr-1707	656	1	102	102	NUM
cblr-1707	656	2	i	i	PRON
cblr-1707	656	3	d.	d.	NOUN
cblr-1707	656	4	at	at	ADP
cblr-1707	656	5	5	5	NUM
cblr-1707	656	6	.	.	SYM
cblr-1707	656	7	103	103	NUM
cblr-1707	657	1	i	i	PRON
cblr-1707	657	2	d.	d.	PROPN
cblr-1707	657	3	104	104	NUM
cblr-1707	658	1	i	i	PRON
cblr-1707	658	2	d.	d.	PROPN
cblr-1707	658	3	at	at	ADP
cblr-1707	658	4	23	23	NUM
cblr-1707	658	5	.	.	PUNCT
cblr-1707	659	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	659	2	no	no	NOUN
cblr-1707	659	3	.	.	PUNCT
cblr-1707	660	1	3:757	3:757	NUM
cblr-1707	660	2	]	]	X
cblr-1707	660	3	money	money	NOUN
cblr-1707	660	4	as	as	ADP
cblr-1707	660	5	infrastructure	infrastructure	NOUN
cblr-1707	660	6	795	795	NUM
cblr-1707	660	7	.	.	PUNCT
cblr-1707	660	8	.	.	PUNCT
cblr-1707	660	9	.	.	PUNCT
cblr-1707	661	1	we	we	PRON
cblr-1707	661	2	’re	’re	VERB
cblr-1707	661	3	in	in	ADP
cblr-1707	661	4	a	a	DET
cblr-1707	661	5	new	new	ADJ
cblr-1707	661	6	regime	regime	NOUN
cblr-1707	661	7	now	now	ADV
cblr-1707	661	8	.	.	PUNCT
cblr-1707	662	1	in	in	ADP
cblr-1707	662	2	the	the	DET
cblr-1707	662	3	old	old	ADJ
cblr-1707	662	4	days	day	NOUN
cblr-1707	662	5	,	,	PUNCT
cblr-1707	662	6	the	the	DET
cblr-1707	662	7	fed	fed	PROPN
cblr-1707	662	8	used	use	VERB
cblr-1707	662	9	to	to	PART
cblr-1707	662	10	just	just	ADV
cblr-1707	662	11	tighten	tighten	VERB
cblr-1707	662	12	the	the	DET
cblr-1707	662	13	screws	screw	NOUN
cblr-1707	662	14	on	on	ADP
cblr-1707	662	15	banks	bank	NOUN
cblr-1707	662	16	in	in	ADP
cblr-1707	662	17	terms	term	NOUN
cblr-1707	662	18	of	of	ADP
cblr-1707	662	19	how	how	SCONJ
cblr-1707	662	20	much	much	ADJ
cblr-1707	662	21	reserves	reserve	NOUN
cblr-1707	662	22	they	they	PRON
cblr-1707	662	23	needed	need	VERB
cblr-1707	662	24	to	to	PART
cblr-1707	662	25	meet	meet	VERB
cblr-1707	662	26	their	their	PRON
cblr-1707	662	27	reserve	reserve	NOUN
cblr-1707	662	28	requirements	requirement	NOUN
cblr-1707	662	29	.	.	PUNCT
cblr-1707	663	1	but	but	CCONJ
cblr-1707	663	2	nowadays	nowadays	ADV
cblr-1707	663	3	the	the	DET
cblr-1707	663	4	fed	fed	PROPN
cblr-1707	663	5	is	be	AUX
cblr-1707	663	6	trying	try	VERB
cblr-1707	663	7	to	to	PART
cblr-1707	663	8	yank	yank	VERB
cblr-1707	663	9	rates	rate	NOUN
cblr-1707	663	10	up	up	ADP
cblr-1707	663	11	,	,	PUNCT
cblr-1707	663	12	when	when	SCONJ
cblr-1707	663	13	it	it	PRON
cblr-1707	663	14	does	do	VERB
cblr-1707	663	15	,	,	PUNCT
cblr-1707	663	16	by	by	ADP
cblr-1707	663	17	lifting	lift	VERB
cblr-1707	663	18	the	the	DET
cblr-1707	663	19	deposit	deposit	NOUN
cblr-1707	663	20	rate	rate	NOUN
cblr-1707	663	21	that	that	PRON
cblr-1707	663	22	it	it	PRON
cblr-1707	663	23	pays	pay	VERB
cblr-1707	663	24	to	to	ADP
cblr-1707	663	25	banks	bank	NOUN
cblr-1707	664	1	[	[	X
cblr-1707	664	2	on	on	ADP
cblr-1707	664	3	their	their	PRON
cblr-1707	664	4	]	]	X
cblr-1707	664	5	money	money	NOUN
cblr-1707	664	6	at	at	ADP
cblr-1707	664	7	the	the	DET
cblr-1707	664	8	fed	fed	PROPN
cblr-1707	664	9	.	.	PUNCT
cblr-1707	665	1	that	that	PRON
cblr-1707	665	2	’s	’	VERB
cblr-1707	665	3	a	a	DET
cblr-1707	665	4	completely	completely	ADV
cblr-1707	665	5	different	different	ADJ
cblr-1707	665	6	monetary	monetary	ADJ
cblr-1707	665	7	policy	policy	NOUN
cblr-1707	665	8	framework	framework	NOUN
cblr-1707	665	9	.	.	PUNCT
cblr-1707	666	1	what	what	PRON
cblr-1707	666	2	arvind	arvind	NOUN
cblr-1707	666	3	and	and	CCONJ
cblr-1707	666	4	i	i	PRON
cblr-1707	666	5	show	show	VERB
cblr-1707	666	6	in	in	ADP
cblr-1707	666	7	our	our	PRON
cblr-1707	666	8	paper	paper	NOUN
cblr-1707	666	9	is	be	AUX
cblr-1707	666	10	,	,	PUNCT
cblr-1707	666	11	yes	yes	INTJ
cblr-1707	666	12	they	they	PRON
cblr-1707	666	13	can	can	AUX
cblr-1707	666	14	pull	pull	VERB
cblr-1707	666	15	rates	rate	NOUN
cblr-1707	666	16	up	up	ADP
cblr-1707	666	17	,	,	PUNCT
cblr-1707	666	18	but	but	CCONJ
cblr-1707	666	19	[	[	X
cblr-1707	666	20	there	there	PRON
cblr-1707	666	21	are	be	VERB
cblr-1707	666	22	]	]	PUNCT
cblr-1707	666	23	some	some	DET
cblr-1707	666	24	distortions	distortion	NOUN
cblr-1707	666	25	that	that	PRON
cblr-1707	666	26	are	be	AUX
cblr-1707	666	27	created	create	VERB
cblr-1707	666	28	by	by	ADP
cblr-1707	666	29	things	thing	NOUN
cblr-1707	666	30	like	like	ADP
cblr-1707	666	31	regulation	regulation	NOUN
cblr-1707	666	32	and	and	CCONJ
cblr-1707	666	33	imperfect	imperfect	ADJ
cblr-1707	666	34	competition	competition	NOUN
cblr-1707	666	35	in	in	ADP
cblr-1707	666	36	the	the	DET
cblr-1707	666	37	banking	banking	NOUN
cblr-1707	666	38	market	market	NOUN
cblr-1707	666	39	.	.	PUNCT
cblr-1707	667	1	so	so	ADV
cblr-1707	667	2	what	what	PRON
cblr-1707	667	3	we	we	PRON
cblr-1707	667	4	do	do	AUX
cblr-1707	667	5	is	be	AUX
cblr-1707	667	6	we	we	PRON
cblr-1707	667	7	question	question	VERB
cblr-1707	667	8	how	how	SCONJ
cblr-1707	667	9	effective	effective	ADJ
cblr-1707	667	10	they	they	PRON
cblr-1707	667	11	can	can	AUX
cblr-1707	667	12	be	be	AUX
cblr-1707	667	13	.	.	PUNCT
cblr-1707	668	1	but	but	CCONJ
cblr-1707	668	2	definitely	definitely	ADV
cblr-1707	668	3	they	they	PRON
cblr-1707	668	4	can	can	AUX
cblr-1707	668	5	move	move	VERB
cblr-1707	668	6	rates	rate	NOUN
cblr-1707	668	7	.	.	PUNCT
cblr-1707	669	1	[	[	X
cblr-1707	669	2	but	but	CCONJ
cblr-1707	669	3	]	]	PUNCT
cblr-1707	669	4	it	it	PRON
cblr-1707	669	5	might	might	AUX
cblr-1707	669	6	be	be	AUX
cblr-1707	669	7	somewhat	somewhat	ADV
cblr-1707	669	8	messy	messy	ADJ
cblr-1707	669	9	,	,	PUNCT
cblr-1707	669	10	depending	depend	VERB
cblr-1707	669	11	on	on	ADP
cblr-1707	669	12	the	the	DET
cblr-1707	669	13	monetary	monetary	ADJ
cblr-1707	669	14	policy	policy	NOUN
cblr-1707	669	15	framework	framework	NOUN
cblr-1707	669	16	.	.	PUNCT
cblr-1707	669	17	.	.	PUNCT
cblr-1707	669	18	.	.	PUNCT
cblr-1707	670	1	.[i]t	.[i]t	PROPN
cblr-1707	670	2	’s	’	VERB
cblr-1707	670	3	not	not	PART
cblr-1707	670	4	just	just	ADV
cblr-1707	670	5	a	a	DET
cblr-1707	670	6	question	question	NOUN
cblr-1707	670	7	of	of	ADP
cblr-1707	670	8	when	when	SCONJ
cblr-1707	670	9	the	the	DET
cblr-1707	670	10	fed	fed	PROPN
cblr-1707	670	11	moves	move	VERB
cblr-1707	670	12	,	,	PUNCT
cblr-1707	670	13	but	but	CCONJ
cblr-1707	670	14	will	will	AUX
cblr-1707	670	15	the	the	DET
cblr-1707	670	16	economy	economy	NOUN
cblr-1707	670	17	respond	respond	VERB
cblr-1707	670	18	to	to	ADP
cblr-1707	670	19	the	the	DET
cblr-1707	670	20	choices	choice	NOUN
cblr-1707	670	21	that	that	PRON
cblr-1707	670	22	the	the	DET
cblr-1707	670	23	fed	fed	PROPN
cblr-1707	670	24	makes	make	VERB
cblr-1707	670	25	.	.	PUNCT
cblr-1707	671	1	and	and	CCONJ
cblr-1707	671	2	that	that	PRON
cblr-1707	671	3	’s	’	VERB
cblr-1707	671	4	a	a	DET
cblr-1707	671	5	question	question	NOUN
cblr-1707	671	6	of	of	ADP
cblr-1707	671	7	how	how	SCONJ
cblr-1707	671	8	our	our	PRON
cblr-1707	671	9	markets	market	NOUN
cblr-1707	671	10	work	work	VERB
cblr-1707	671	11	.	.	PUNCT
cblr-1707	671	12	.	.	PUNCT
cblr-1707	671	13	.	.	PUNCT
cblr-1707	672	1	.	.	PUNCT
cblr-1707	673	1	so	so	ADV
cblr-1707	673	2	we	we	PRON
cblr-1707	673	3	really	really	ADV
cblr-1707	673	4	need	need	VERB
cblr-1707	673	5	to	to	PART
cblr-1707	673	6	understand	understand	VERB
cblr-1707	673	7	how	how	SCONJ
cblr-1707	673	8	fed	feed	VERB
cblr-1707	673	9	policy	policy	NOUN
cblr-1707	673	10	actually	actually	ADV
cblr-1707	673	11	affects	affect	VERB
cblr-1707	673	12	the	the	DET
cblr-1707	673	13	economy	economy	NOUN
cblr-1707	673	14	.	.	PUNCT
cblr-1707	674	1	that	that	PRON
cblr-1707	674	2	’s	’	VERB
cblr-1707	674	3	where	where	SCONJ
cblr-1707	674	4	the	the	DET
cblr-1707	674	5	action	action	NOUN
cblr-1707	674	6	is	be	AUX
cblr-1707	674	7	.	.	PUNCT
cblr-1707	674	8	.	.	PUNCT
cblr-1707	674	9	.	.	PUNCT
cblr-1707	674	10	.	.	PUNCT
cblr-1707	675	1	[	[	X
cblr-1707	675	2	m]ost	m]ost	NOUN
cblr-1707	675	3	of	of	ADP
cblr-1707	675	4	the	the	DET
cblr-1707	675	5	messiness	messiness	NOUN
cblr-1707	675	6	that	that	PRON
cblr-1707	675	7	i	i	PRON
cblr-1707	675	8	talked	talk	VERB
cblr-1707	675	9	about	about	ADP
cblr-1707	675	10	.	.	PUNCT
cblr-1707	675	11	.	.	PUNCT
cblr-1707	675	12	.	.	PUNCT
cblr-1707	676	1	wo	will	AUX
cblr-1707	676	2	n’t	not	PART
cblr-1707	676	3	be	be	AUX
cblr-1707	676	4	apparent	apparent	ADJ
cblr-1707	676	5	until	until	SCONJ
cblr-1707	676	6	rates	rate	NOUN
cblr-1707	676	7	are	be	AUX
cblr-1707	676	8	higher.105	higher.105	ADV
cblr-1707	676	9	let	let	VERB
cblr-1707	676	10	me	i	PRON
cblr-1707	676	11	add	add	VERB
cblr-1707	676	12	one	one	NUM
cblr-1707	676	13	other	other	ADJ
cblr-1707	676	14	consideration	consideration	NOUN
cblr-1707	676	15	to	to	ADP
cblr-1707	676	16	the	the	DET
cblr-1707	676	17	mix	mix	NOUN
cblr-1707	676	18	,	,	PUNCT
cblr-1707	676	19	which	which	PRON
cblr-1707	676	20	is	be	AUX
cblr-1707	676	21	that	that	SCONJ
cblr-1707	676	22	,	,	PUNCT
cblr-1707	676	23	under	under	ADP
cblr-1707	676	24	administered	administer	VERB
cblr-1707	676	25	-	-	PUNCT
cblr-1707	676	26	rate	rate	NOUN
cblr-1707	676	27	frameworks	framework	NOUN
cblr-1707	676	28	,	,	PUNCT
cblr-1707	676	29	the	the	DET
cblr-1707	676	30	quantity	quantity	NOUN
cblr-1707	676	31	of	of	ADP
cblr-1707	676	32	the	the	DET
cblr-1707	676	33	central	central	PROPN
cblr-1707	676	34	bank	bank	PROPN
cblr-1707	676	35	’s	’s	PART
cblr-1707	676	36	interest	interest	NOUN
cblr-1707	676	37	-	-	PUNCT
cblr-1707	676	38	paying	pay	VERB
cblr-1707	676	39	liabilities	liability	NOUN
cblr-1707	676	40	in	in	ADP
cblr-1707	676	41	relation	relation	NOUN
cblr-1707	676	42	to	to	ADP
cblr-1707	676	43	the	the	DET
cblr-1707	676	44	size	size	NOUN
cblr-1707	676	45	of	of	ADP
cblr-1707	676	46	the	the	DET
cblr-1707	676	47	broader	broad	ADJ
cblr-1707	676	48	money	money	NOUN
cblr-1707	676	49	markets	market	NOUN
cblr-1707	676	50	could	could	AUX
cblr-1707	676	51	turn	turn	VERB
cblr-1707	676	52	out	out	ADP
cblr-1707	676	53	to	to	PART
cblr-1707	676	54	be	be	AUX
cblr-1707	676	55	vital	vital	ADJ
cblr-1707	676	56	to	to	ADP
cblr-1707	676	57	monetary	monetary	ADJ
cblr-1707	676	58	policy	policy	NOUN
cblr-1707	676	59	effectiveness	effectiveness	NOUN
cblr-1707	676	60	.	.	PUNCT
cblr-1707	677	1	some	some	DET
cblr-1707	677	2	analyses	analysis	NOUN
cblr-1707	677	3	of	of	ADP
cblr-1707	677	4	monetary	monetary	ADJ
cblr-1707	677	5	policy	policy	NOUN
cblr-1707	677	6	transmission	transmission	NOUN
cblr-1707	677	7	—	—	PUNCT
cblr-1707	677	8	including	include	VERB
cblr-1707	677	9	,	,	PUNCT
cblr-1707	677	10	it	it	PRON
cblr-1707	677	11	seems	seem	VERB
cblr-1707	677	12	,	,	PUNCT
cblr-1707	677	13	the	the	DET
cblr-1707	677	14	woodford	woodford	PROPN
cblr-1707	677	15	excerpt	excerpt	NOUN
cblr-1707	677	16	above	above	ADP
cblr-1707	677	17	—	—	PUNCT
cblr-1707	677	18	tacitly	tacitly	ADV
cblr-1707	677	19	assume	assume	VERB
cblr-1707	677	20	that	that	SCONJ
cblr-1707	677	21	raising	raise	VERB
cblr-1707	677	22	administered	administered	ADJ
cblr-1707	677	23	rates	rate	NOUN
cblr-1707	677	24	causes	cause	VERB
cblr-1707	677	25	more	more	ADJ
cblr-1707	677	26	“	"	PUNCT
cblr-1707	677	27	funds	fund	NOUN
cblr-1707	677	28	”	"	PUNCT
cblr-1707	677	29	to	to	PART
cblr-1707	677	30	be	be	AUX
cblr-1707	677	31	“	"	PUNCT
cblr-1707	677	32	stashed	stash	VERB
cblr-1707	677	33	”	"	PUNCT
cblr-1707	677	34	at	at	ADP
cblr-1707	677	35	the	the	DET
cblr-1707	677	36	central	central	ADJ
cblr-1707	677	37	bank	bank	NOUN
cblr-1707	677	38	as	as	SCONJ
cblr-1707	677	39	opposed	oppose	VERB
cblr-1707	677	40	to	to	PART
cblr-1707	677	41	“	"	PUNCT
cblr-1707	677	42	invested	invest	VERB
cblr-1707	677	43	”	"	PUNCT
cblr-1707	677	44	elsewhere	elsewhere	ADV
cblr-1707	677	45	,	,	PUNCT
cblr-1707	677	46	as	as	SCONJ
cblr-1707	677	47	though	though	SCONJ
cblr-1707	677	48	the	the	DET
cblr-1707	677	49	central	central	PROPN
cblr-1707	677	50	bank	bank	PROPN
cblr-1707	677	51	’s	’s	PART
cblr-1707	677	52	balance	balance	NOUN
cblr-1707	677	53	sheet	sheet	NOUN
cblr-1707	677	54	automatically	automatically	ADV
cblr-1707	677	55	expanded	expand	VERB
cblr-1707	677	56	to	to	PART
cblr-1707	677	57	“	"	PUNCT
cblr-1707	677	58	take	take	VERB
cblr-1707	677	59	in	in	ADP
cblr-1707	677	60	”	"	PUNCT
cblr-1707	677	61	those	those	DET
cblr-1707	677	62	funds	fund	NOUN
cblr-1707	677	63	.	.	PUNCT
cblr-1707	678	1	this	this	DET
cblr-1707	678	2	assumption	assumption	NOUN
cblr-1707	678	3	is	be	AUX
cblr-1707	678	4	implicit	implicit	ADJ
cblr-1707	678	5	in	in	ADP
cblr-1707	678	6	the	the	DET
cblr-1707	678	7	notion	notion	NOUN
cblr-1707	678	8	that	that	SCONJ
cblr-1707	678	9	arbitrage	arbitrage	NOUN
cblr-1707	678	10	will	will	AUX
cblr-1707	678	11	eliminate	eliminate	VERB
cblr-1707	678	12	rate	rate	NOUN
cblr-1707	678	13	differentials	differential	NOUN
cblr-1707	678	14	.	.	PUNCT
cblr-1707	679	1	but	but	CCONJ
cblr-1707	679	2	it	it	PRON
cblr-1707	679	3	should	should	AUX
cblr-1707	679	4	be	be	AUX
cblr-1707	679	5	105	105	NUM
cblr-1707	679	6	bloomberg	bloomberg	NOUN
cblr-1707	679	7	advantage	advantage	NOUN
cblr-1707	679	8	:	:	PUNCT
cblr-1707	679	9	duffie	duffie	NOUN
cblr-1707	679	10	wonders	wonder	VERB
cblr-1707	679	11	how	how	SCONJ
cblr-1707	679	12	effective	effective	ADJ
cblr-1707	679	13	fed	fed	PROPN
cblr-1707	679	14	can	can	AUX
cblr-1707	679	15	be	be	AUX
cblr-1707	679	16	,	,	PUNCT
cblr-1707	679	17	bloomberg	bloomberg	PROPN
cblr-1707	679	18	(	(	PUNCT
cblr-1707	679	19	aug	aug	PROPN
cblr-1707	679	20	.	.	PROPN
cblr-1707	679	21	30	30	NUM
cblr-1707	679	22	,	,	PUNCT
cblr-1707	679	23	2016	2016	NUM
cblr-1707	679	24	)	)	PUNCT
cblr-1707	679	25	,	,	PUNCT
cblr-1707	679	26	https://www.iheart.com/podcast/featuredpodcasts-and-new-show-21297472/episode/bloomberg-advantage-duffiewonders-how-effective-27659505/	https://www.iheart.com/podcast/featuredpodcasts-and-new-show-21297472/episode/bloomberg-advantage-duffiewonders-how-effective-27659505/	PROPN
cblr-1707	680	1	[	[	X
cblr-1707	680	2	https://perma.cc/rg4y-27y9	https://perma.cc/rg4y-27y9	NOUN
cblr-1707	680	3	]	]	X
cblr-1707	680	4	.	.	PUNCT
cblr-1707	681	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	681	2	796	796	NUM
cblr-1707	681	3	columbia	columbia	PROPN
cblr-1707	681	4	business	business	NOUN
cblr-1707	681	5	law	law	PROPN
cblr-1707	681	6	review	review	NOUN
cblr-1707	681	7	[	[	X
cblr-1707	681	8	vol	vol	NOUN
cblr-1707	681	9	.	.	PUNCT
cblr-1707	681	10	2018	2018	NUM
cblr-1707	681	11	evident	evident	ADJ
cblr-1707	681	12	from	from	ADP
cblr-1707	681	13	the	the	DET
cblr-1707	681	14	discussion	discussion	NOUN
cblr-1707	681	15	above	above	ADP
cblr-1707	681	16	that	that	SCONJ
cblr-1707	681	17	the	the	DET
cblr-1707	681	18	central	central	ADJ
cblr-1707	681	19	bank	bank	NOUN
cblr-1707	681	20	unilaterally	unilaterally	ADV
cblr-1707	681	21	determines	determine	VERB
cblr-1707	681	22	the	the	DET
cblr-1707	681	23	quantity	quantity	NOUN
cblr-1707	681	24	of	of	ADP
cblr-1707	681	25	base	base	ADJ
cblr-1707	681	26	money	money	NOUN
cblr-1707	681	27	outstanding	outstanding	ADJ
cblr-1707	681	28	.	.	PUNCT
cblr-1707	682	1	there	there	PRON
cblr-1707	682	2	is	be	VERB
cblr-1707	682	3	no	no	DET
cblr-1707	682	4	coherent	coherent	ADJ
cblr-1707	682	5	sense	sense	NOUN
cblr-1707	682	6	in	in	ADP
cblr-1707	682	7	which	which	PRON
cblr-1707	682	8	increasing	increase	VERB
cblr-1707	682	9	administered	administer	VERB
cblr-1707	682	10	rates	rate	NOUN
cblr-1707	682	11	attracts	attract	VERB
cblr-1707	682	12	more	more	ADV
cblr-1707	682	13	aggregate	aggregate	ADJ
cblr-1707	682	14	“	"	PUNCT
cblr-1707	682	15	funds	fund	NOUN
cblr-1707	682	16	”	"	PUNCT
cblr-1707	682	17	to	to	ADP
cblr-1707	682	18	the	the	DET
cblr-1707	682	19	central	central	ADJ
cblr-1707	682	20	bank.106	bank.106	PROPN
cblr-1707	683	1	so	so	ADV
cblr-1707	683	2	,	,	PUNCT
cblr-1707	683	3	even	even	ADV
cblr-1707	683	4	in	in	ADP
cblr-1707	683	5	the	the	DET
cblr-1707	683	6	absence	absence	NOUN
cblr-1707	683	7	of	of	ADP
cblr-1707	683	8	frictions	friction	NOUN
cblr-1707	683	9	,	,	PUNCT
cblr-1707	683	10	it	it	PRON
cblr-1707	683	11	is	be	AUX
cblr-1707	683	12	doubtful	doubtful	ADJ
cblr-1707	683	13	that	that	SCONJ
cblr-1707	683	14	administered	administer	VERB
cblr-1707	683	15	rates	rate	NOUN
cblr-1707	683	16	would	would	AUX
cblr-1707	683	17	set	set	VERB
cblr-1707	683	18	an	an	DET
cblr-1707	683	19	effective	effective	ADJ
cblr-1707	683	20	floor	floor	NOUN
cblr-1707	683	21	under	under	ADP
cblr-1707	683	22	all	all	DET
cblr-1707	683	23	short	short	ADJ
cblr-1707	683	24	-	-	PUNCT
cblr-1707	683	25	term	term	NOUN
cblr-1707	683	26	market	market	NOUN
cblr-1707	683	27	rates	rate	NOUN
cblr-1707	683	28	so	so	ADV
cblr-1707	683	29	long	long	ADV
cblr-1707	683	30	as	as	SCONJ
cblr-1707	683	31	the	the	DET
cblr-1707	683	32	short	short	ADJ
cblr-1707	683	33	-	-	PUNCT
cblr-1707	683	34	term	term	NOUN
cblr-1707	683	35	funding	funding	NOUN
cblr-1707	683	36	markets	market	NOUN
cblr-1707	683	37	were	be	AUX
cblr-1707	683	38	very	very	ADV
cblr-1707	683	39	large	large	ADJ
cblr-1707	683	40	in	in	ADP
cblr-1707	683	41	relation	relation	NOUN
cblr-1707	683	42	to	to	ADP
cblr-1707	683	43	the	the	DET
cblr-1707	683	44	central	central	PROPN
cblr-1707	683	45	bank	bank	PROPN
cblr-1707	683	46	’s	’s	PART
cblr-1707	683	47	interest	interest	NOUN
cblr-1707	683	48	-	-	PUNCT
cblr-1707	683	49	paying	pay	VERB
cblr-1707	683	50	liabilities	liability	NOUN
cblr-1707	683	51	.	.	PUNCT
cblr-1707	684	1	to	to	PART
cblr-1707	684	2	be	be	AUX
cblr-1707	684	3	concrete	concrete	ADJ
cblr-1707	684	4	,	,	PUNCT
cblr-1707	684	5	recall	recall	VERB
cblr-1707	684	6	from	from	ADP
cblr-1707	684	7	above	above	ADP
cblr-1707	684	8	that	that	PRON
cblr-1707	684	9	immediately	immediately	ADV
cblr-1707	684	10	prior	prior	ADV
cblr-1707	684	11	to	to	ADP
cblr-1707	684	12	the	the	DET
cblr-1707	684	13	financial	financial	ADJ
cblr-1707	684	14	crisis	crisis	NOUN
cblr-1707	684	15	,	,	PUNCT
cblr-1707	684	16	excess	excess	ADJ
cblr-1707	684	17	reserves	reserve	NOUN
cblr-1707	684	18	in	in	ADP
cblr-1707	684	19	the	the	DET
cblr-1707	684	20	u.s	u.s	PROPN
cblr-1707	684	21	.	.	PROPN
cblr-1707	684	22	banking	banking	NOUN
cblr-1707	684	23	system	system	NOUN
cblr-1707	684	24	hovered	hover	VERB
cblr-1707	684	25	around	around	ADV
cblr-1707	684	26	$	$	SYM
cblr-1707	684	27	2	2	NUM
cblr-1707	684	28	billion.107	billion.107	NOUN
cblr-1707	684	29	it	it	PRON
cblr-1707	684	30	is	be	AUX
cblr-1707	684	31	inconceivable	inconceivable	ADJ
cblr-1707	684	32	that	that	SCONJ
cblr-1707	684	33	paying	pay	VERB
cblr-1707	684	34	interest	interest	NOUN
cblr-1707	684	35	on	on	ADP
cblr-1707	684	36	those	those	DET
cblr-1707	684	37	reserves	reserve	NOUN
cblr-1707	684	38	could	could	AUX
cblr-1707	684	39	possibly	possibly	ADV
cblr-1707	684	40	have	have	AUX
cblr-1707	684	41	set	set	VERB
cblr-1707	684	42	an	an	DET
cblr-1707	684	43	effective	effective	ADJ
cblr-1707	684	44	floor	floor	NOUN
cblr-1707	684	45	on	on	ADP
cblr-1707	684	46	rates	rate	NOUN
cblr-1707	684	47	in	in	ADP
cblr-1707	684	48	the	the	DET
cblr-1707	684	49	short	short	ADJ
cblr-1707	684	50	-	-	PUNCT
cblr-1707	684	51	term	term	NOUN
cblr-1707	684	52	repo	repo	ADP
cblr-1707	684	53	market	market	NOUN
cblr-1707	684	54	(	(	PUNCT
cblr-1707	684	55	which	which	PRON
cblr-1707	684	56	then	then	ADV
cblr-1707	684	57	stood	stand	VERB
cblr-1707	684	58	at	at	ADP
cblr-1707	684	59	$	$	SYM
cblr-1707	684	60	4.1	4.1	NUM
cblr-1707	684	61	trillion)108	trillion)108	NOUN
cblr-1707	684	62	,	,	PUNCT
cblr-1707	684	63	in	in	ADP
cblr-1707	684	64	the	the	DET
cblr-1707	684	65	commercial	commercial	ADJ
cblr-1707	684	66	paper	paper	NOUN
cblr-1707	684	67	market	market	NOUN
cblr-1707	684	68	(	(	PUNCT
cblr-1707	684	69	which	which	PRON
cblr-1707	684	70	then	then	ADV
cblr-1707	684	71	stood	stand	VERB
cblr-1707	684	72	at	at	ADP
cblr-1707	684	73	$	$	SYM
cblr-1707	684	74	2.2	2.2	NUM
cblr-1707	684	75	trillion)109	trillion)109	NUM
cblr-1707	684	76	,	,	PUNCT
cblr-1707	684	77	or	or	CCONJ
cblr-1707	684	78	,	,	PUNCT
cblr-1707	684	79	for	for	ADP
cblr-1707	684	80	that	that	DET
cblr-1707	684	81	matter	matter	NOUN
cblr-1707	684	82	,	,	PUNCT
cblr-1707	684	83	in	in	ADP
cblr-1707	684	84	the	the	DET
cblr-1707	684	85	market	market	NOUN
cblr-1707	684	86	for	for	ADP
cblr-1707	684	87	bank	bank	NOUN
cblr-1707	684	88	deposits	deposit	NOUN
cblr-1707	684	89	(	(	PUNCT
cblr-1707	684	90	which	which	PRON
cblr-1707	684	91	then	then	ADV
cblr-1707	684	92	stood	stand	VERB
cblr-1707	684	93	at	at	ADP
cblr-1707	684	94	$	$	SYM
cblr-1707	684	95	8.4	8.4	NUM
cblr-1707	684	96	trillion).110	trillion).110	PROPN
cblr-1707	684	97	indeed	indeed	ADV
cblr-1707	684	98	,	,	PUNCT
cblr-1707	684	99	the	the	DET
cblr-1707	684	100	federal	federal	PROPN
cblr-1707	684	101	reserve	reserve	PROPN
cblr-1707	684	102	’s	’s	PART
cblr-1707	684	103	experience	experience	NOUN
cblr-1707	684	104	with	with	ADP
cblr-1707	684	105	the	the	DET
cblr-1707	684	106	on	on	ADP
cblr-1707	684	107	-	-	PUNCT
cblr-1707	684	108	rrp	rrp	NOUN
cblr-1707	684	109	facility	facility	NOUN
cblr-1707	684	110	has	have	AUX
cblr-1707	684	111	demonstrated	demonstrate	VERB
cblr-1707	684	112	that	that	SCONJ
cblr-1707	684	113	the	the	DET
cblr-1707	684	114	facility	facility	NOUN
cblr-1707	684	115	’s	’s	PART
cblr-1707	684	116	efficacy	efficacy	NOUN
cblr-1707	684	117	varies	vary	VERB
cblr-1707	684	118	in	in	ADP
cblr-1707	684	119	proportion	proportion	NOUN
cblr-1707	684	120	to	to	ADP
cblr-1707	684	121	its	its	PRON
cblr-1707	684	122	size.111	size.111	PROPN
cblr-1707	684	123	in	in	ADP
cblr-1707	684	124	short	short	ADJ
cblr-1707	684	125	,	,	PUNCT
cblr-1707	684	126	under	under	ADP
cblr-1707	684	127	administered	administer	VERB
cblr-1707	684	128	-	-	PUNCT
cblr-1707	684	129	rate	rate	NOUN
cblr-1707	684	130	frameworks	framework	NOUN
cblr-1707	684	131	,	,	PUNCT
cblr-1707	684	132	size	size	NOUN
cblr-1707	684	133	matters	matter	NOUN
cblr-1707	684	134	.	.	PUNCT
cblr-1707	685	1	ironically	ironically	ADV
cblr-1707	685	2	,	,	PUNCT
cblr-1707	685	3	this	this	DET
cblr-1707	685	4	analysis	analysis	NOUN
cblr-1707	685	5	implies	imply	VERB
cblr-1707	685	6	that	that	SCONJ
cblr-1707	685	7	as	as	SCONJ
cblr-1707	685	8	the	the	DET
cblr-1707	685	9	federal	federal	PROPN
cblr-1707	685	10	reserve	reserve	PROPN
cblr-1707	685	11	gradually	gradually	ADV
cblr-1707	685	12	shrinks	shrink	VERB
cblr-1707	685	13	its	its	PRON
cblr-1707	685	14	balance	balance	NOUN
cblr-1707	685	15	106	106	NUM
cblr-1707	685	16	it	it	PRON
cblr-1707	685	17	is	be	AUX
cblr-1707	685	18	true	true	ADJ
cblr-1707	685	19	that	that	SCONJ
cblr-1707	685	20	higher	high	ADJ
cblr-1707	685	21	bank	bank	NOUN
cblr-1707	685	22	deposit	deposit	NOUN
cblr-1707	685	23	rates	rate	NOUN
cblr-1707	685	24	should	should	AUX
cblr-1707	685	25	,	,	PUNCT
cblr-1707	685	26	at	at	ADP
cblr-1707	685	27	the	the	DET
cblr-1707	685	28	margin	margin	NOUN
cblr-1707	685	29	,	,	PUNCT
cblr-1707	685	30	induce	induce	VERB
cblr-1707	685	31	currency	currency	NOUN
cblr-1707	685	32	holders	holder	NOUN
cblr-1707	685	33	to	to	PART
cblr-1707	685	34	trade	trade	VERB
cblr-1707	685	35	currency	currency	NOUN
cblr-1707	685	36	for	for	ADP
cblr-1707	685	37	bank	bank	NOUN
cblr-1707	685	38	deposits	deposit	NOUN
cblr-1707	685	39	,	,	PUNCT
cblr-1707	685	40	and	and	CCONJ
cblr-1707	685	41	that	that	SCONJ
cblr-1707	685	42	banks	bank	NOUN
cblr-1707	685	43	could	could	AUX
cblr-1707	685	44	then	then	ADV
cblr-1707	685	45	deliver	deliver	VERB
cblr-1707	685	46	excess	excess	ADJ
cblr-1707	685	47	currency	currency	NOUN
cblr-1707	685	48	to	to	ADP
cblr-1707	685	49	the	the	DET
cblr-1707	685	50	fed	fed	PROPN
cblr-1707	685	51	in	in	ADP
cblr-1707	685	52	exchange	exchange	NOUN
cblr-1707	685	53	for	for	ADP
cblr-1707	685	54	reserve	reserve	NOUN
cblr-1707	685	55	balances	balance	NOUN
cblr-1707	685	56	,	,	PUNCT
cblr-1707	685	57	but	but	CCONJ
cblr-1707	685	58	this	this	DET
cblr-1707	685	59	effect	effect	NOUN
cblr-1707	685	60	is	be	AUX
cblr-1707	685	61	quantitatively	quantitatively	ADV
cblr-1707	685	62	insignificant	insignificant	ADJ
cblr-1707	685	63	in	in	ADP
cblr-1707	685	64	practice	practice	NOUN
cblr-1707	685	65	.	.	PUNCT
cblr-1707	686	1	107	107	NUM
cblr-1707	686	2	federal	federal	PROPN
cblr-1707	686	3	reserve	reserve	PROPN
cblr-1707	686	4	economic	economic	ADJ
cblr-1707	686	5	data	datum	NOUN
cblr-1707	686	6	(	(	PUNCT
cblr-1707	686	7	“	"	PUNCT
cblr-1707	686	8	fred	fred	PROPN
cblr-1707	686	9	”	"	PUNCT
cblr-1707	686	10	)	)	PUNCT
cblr-1707	686	11	,	,	PUNCT
cblr-1707	686	12	excess	excess	ADJ
cblr-1707	686	13	reserves	reserve	NOUN
cblr-1707	686	14	of	of	ADP
cblr-1707	686	15	depository	depository	NOUN
cblr-1707	686	16	institutions	institution	NOUN
cblr-1707	686	17	(	(	PUNCT
cblr-1707	686	18	“	"	PUNCT
cblr-1707	686	19	excresns	excresns	NOUN
cblr-1707	686	20	”	"	PUNCT
cblr-1707	686	21	)	)	PUNCT
cblr-1707	686	22	(	(	PUNCT
cblr-1707	686	23	2007	2007	NUM
cblr-1707	686	24	)	)	PUNCT
cblr-1707	686	25	,	,	PUNCT
cblr-1707	686	26	fed	fed	PROPN
cblr-1707	686	27	.	.	PUNCT
cblr-1707	687	1	res	res	PROPN
cblr-1707	687	2	.	.	PUNCT
cblr-1707	687	3	bank	bank	PROPN
cblr-1707	687	4	of	of	ADP
cblr-1707	687	5	st	st	PROPN
cblr-1707	687	6	.	.	PROPN
cblr-1707	687	7	louis	louis	PROPN
cblr-1707	687	8	,	,	PUNCT
cblr-1707	687	9	https://fred.stlouisfed.org/series/excresns	https://fred.stlouisfed.org/series/excresns	PROPN
cblr-1707	688	1	[	[	X
cblr-1707	688	2	https://perma.cc/6p8f2uc4	https://perma.cc/6p8f2uc4	PROPN
cblr-1707	688	3	]	]	PUNCT
cblr-1707	688	4	.	.	PUNCT
cblr-1707	689	1	108	108	NUM
cblr-1707	689	2	federal	federal	PROPN
cblr-1707	689	3	reserve	reserve	PROPN
cblr-1707	689	4	bank	bank	PROPN
cblr-1707	689	5	of	of	ADP
cblr-1707	689	6	new	new	PROPN
cblr-1707	689	7	york	york	PROPN
cblr-1707	689	8	,	,	PUNCT
cblr-1707	689	9	primary	primary	ADJ
cblr-1707	689	10	dealer	dealer	NOUN
cblr-1707	689	11	statistics	statistic	NOUN
cblr-1707	689	12	(	(	PUNCT
cblr-1707	689	13	2007	2007	NUM
cblr-1707	689	14	)	)	PUNCT
cblr-1707	689	15	,	,	PUNCT
cblr-1707	689	16	fed	fed	PROPN
cblr-1707	689	17	.	.	PUNCT
cblr-1707	690	1	res	res	PROPN
cblr-1707	690	2	.	.	PUNCT
cblr-1707	690	3	bank	bank	PROPN
cblr-1707	690	4	of	of	ADP
cblr-1707	690	5	n.y	n.y	PROPN
cblr-1707	690	6	.	.	PROPN
cblr-1707	690	7	,	,	PUNCT
cblr-1707	690	8	https://www.newyorkfed.org/	https://www.newyorkfed.org/	PROPN
cblr-1707	690	9	markets	market	NOUN
cblr-1707	690	10	/	/	SYM
cblr-1707	690	11	gsds	gsds	PROPN
cblr-1707	690	12	/	/	SYM
cblr-1707	691	1	search.html	search.html	NOUN
cblr-1707	692	1	[	[	X
cblr-1707	692	2	https://perma.cc/lbj8-4jrz	https://perma.cc/lbj8-4jrz	X
cblr-1707	692	3	]	]	X
cblr-1707	692	4	.	.	PUNCT
cblr-1707	693	1	109	109	NUM
cblr-1707	693	2	federal	federal	PROPN
cblr-1707	693	3	reserve	reserve	PROPN
cblr-1707	693	4	economic	economic	ADJ
cblr-1707	693	5	data	datum	NOUN
cblr-1707	693	6	(	(	PUNCT
cblr-1707	693	7	“	"	PUNCT
cblr-1707	693	8	fred	fred	PROPN
cblr-1707	693	9	”	"	PUNCT
cblr-1707	693	10	)	)	PUNCT
cblr-1707	693	11	,	,	PUNCT
cblr-1707	693	12	commercial	commercial	ADJ
cblr-1707	693	13	paper	paper	NOUN
cblr-1707	693	14	outstanding	outstanding	ADJ
cblr-1707	693	15	(	(	PUNCT
cblr-1707	693	16	“	"	PUNCT
cblr-1707	693	17	compout	compout	PROPN
cblr-1707	693	18	”	"	PUNCT
cblr-1707	693	19	)	)	PUNCT
cblr-1707	693	20	(	(	PUNCT
cblr-1707	693	21	2007	2007	NUM
cblr-1707	693	22	)	)	PUNCT
cblr-1707	693	23	,	,	PUNCT
cblr-1707	693	24	fed	fed	PROPN
cblr-1707	693	25	.	.	PUNCT
cblr-1707	694	1	res	res	PROPN
cblr-1707	694	2	.	.	PUNCT
cblr-1707	694	3	bank	bank	PROPN
cblr-1707	694	4	of	of	ADP
cblr-1707	694	5	st	st	PROPN
cblr-1707	694	6	.	.	PROPN
cblr-1707	694	7	louis	louis	PROPN
cblr-1707	694	8	,	,	PUNCT
cblr-1707	694	9	https://fred.stlouisfed.org/series/compout	https://fred.stlouisfed.org/series/compout	PROPN
cblr-1707	695	1	[	[	X
cblr-1707	695	2	https://perma.cc/u2ujaaw9	https://perma.cc/u2ujaaw9	X
cblr-1707	695	3	]	]	PUNCT
cblr-1707	695	4	.	.	PUNCT
cblr-1707	696	1	110	110	NUM
cblr-1707	696	2	see	see	VERB
cblr-1707	696	3	quarterly	quarterly	ADJ
cblr-1707	696	4	banking	banking	NOUN
cblr-1707	696	5	profile	profile	NOUN
cblr-1707	696	6	,	,	PUNCT
cblr-1707	696	7	2	2	NUM
cblr-1707	696	8	fdic	fdic	PROPN
cblr-1707	696	9	q.	q.	PROPN
cblr-1707	696	10	1	1	NUM
cblr-1707	696	11	,	,	PUNCT
cblr-1707	696	12	5–9	5–9	PROPN
cblr-1707	696	13	tbls	tbls	NOUN
cblr-1707	696	14	.	.	PUNCT
cblr-1707	697	1	ii	ii	PROPN
cblr-1707	697	2	-	-	PUNCT
cblr-1707	697	3	a	a	PRON
cblr-1707	697	4	,	,	PUNCT
cblr-1707	697	5	iii	iii	NOUN
cblr-1707	697	6	-	-	PUNCT
cblr-1707	697	7	a	a	NOUN
cblr-1707	697	8	,	,	PUNCT
cblr-1707	697	9	iva	iva	PROPN
cblr-1707	697	10	(	(	PUNCT
cblr-1707	697	11	2008	2008	NUM
cblr-1707	697	12	)	)	PUNCT
cblr-1707	697	13	.	.	PUNCT
cblr-1707	698	1	111	111	NUM
cblr-1707	698	2	see	see	VERB
cblr-1707	698	3	frost	frost	NOUN
cblr-1707	698	4	et	et	PROPN
cblr-1707	698	5	al	al	PROPN
cblr-1707	698	6	.	.	PROPN
cblr-1707	698	7	,	,	PUNCT
cblr-1707	698	8	supra	supra	PROPN
cblr-1707	698	9	note	note	VERB
cblr-1707	698	10	94	94	NUM
cblr-1707	698	11	,	,	PUNCT
cblr-1707	698	12	at	at	ADP
cblr-1707	698	13	11–12	11–12	NUM
cblr-1707	698	14	.	.	PUNCT
cblr-1707	699	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	699	2	no	no	NOUN
cblr-1707	699	3	.	.	PUNCT
cblr-1707	700	1	3:757	3:757	NUM
cblr-1707	700	2	]	]	X
cblr-1707	700	3	money	money	NOUN
cblr-1707	700	4	as	as	ADP
cblr-1707	700	5	infrastructure	infrastructure	NOUN
cblr-1707	700	6	797	797	NUM
cblr-1707	700	7	sheet	sheet	NOUN
cblr-1707	700	8	in	in	ADP
cblr-1707	700	9	pursuit	pursuit	NOUN
cblr-1707	700	10	of	of	ADP
cblr-1707	700	11	normalization	normalization	NOUN
cblr-1707	700	12	—	—	PUNCT
cblr-1707	700	13	a	a	DET
cblr-1707	700	14	development	development	NOUN
cblr-1707	700	15	normally	normally	ADV
cblr-1707	700	16	associated	associate	VERB
cblr-1707	700	17	with	with	ADP
cblr-1707	700	18	monetary	monetary	ADJ
cblr-1707	700	19	tightening	tightening	NOUN
cblr-1707	700	20	—	—	PUNCT
cblr-1707	700	21	its	its	PRON
cblr-1707	700	22	ability	ability	NOUN
cblr-1707	700	23	to	to	PART
cblr-1707	700	24	support	support	VERB
cblr-1707	700	25	market	market	NOUN
cblr-1707	700	26	interest	interest	NOUN
cblr-1707	700	27	rates	rate	NOUN
cblr-1707	700	28	through	through	ADP
cblr-1707	700	29	administered	administer	VERB
cblr-1707	700	30	rates	rate	NOUN
cblr-1707	700	31	could	could	AUX
cblr-1707	700	32	very	very	ADV
cblr-1707	700	33	well	well	ADV
cblr-1707	700	34	erode	erode	VERB
cblr-1707	700	35	.	.	PUNCT
cblr-1707	701	1	apart	apart	ADV
cblr-1707	701	2	from	from	ADP
cblr-1707	701	3	concerns	concern	NOUN
cblr-1707	701	4	over	over	ADP
cblr-1707	701	5	efficacy	efficacy	NOUN
cblr-1707	701	6	,	,	PUNCT
cblr-1707	701	7	administered	administer	VERB
cblr-1707	701	8	-	-	PUNCT
cblr-1707	701	9	rate	rate	NOUN
cblr-1707	701	10	frameworks	framework	NOUN
cblr-1707	701	11	raise	raise	VERB
cblr-1707	701	12	uncomfortable	uncomfortable	ADJ
cblr-1707	701	13	distributional	distributional	ADJ
cblr-1707	701	14	questions	question	NOUN
cblr-1707	701	15	.	.	PUNCT
cblr-1707	702	1	by	by	ADP
cblr-1707	702	2	their	their	PRON
cblr-1707	702	3	nature	nature	NOUN
cblr-1707	702	4	,	,	PUNCT
cblr-1707	702	5	administered	administer	VERB
cblr-1707	702	6	rates	rate	NOUN
cblr-1707	702	7	in	in	ADP
cblr-1707	702	8	the	the	DET
cblr-1707	702	9	current	current	ADJ
cblr-1707	702	10	institutional	institutional	ADJ
cblr-1707	702	11	setting	setting	NOUN
cblr-1707	702	12	accrue	accrue	NOUN
cblr-1707	702	13	only	only	ADV
cblr-1707	702	14	to	to	ADP
cblr-1707	702	15	holders	holder	NOUN
cblr-1707	702	16	of	of	ADP
cblr-1707	702	17	specified	specify	VERB
cblr-1707	702	18	central	central	ADJ
cblr-1707	702	19	bank	bank	NOUN
cblr-1707	702	20	liabilities	liability	NOUN
cblr-1707	702	21	.	.	PUNCT
cblr-1707	703	1	in	in	ADP
cblr-1707	703	2	the	the	DET
cblr-1707	703	3	case	case	NOUN
cblr-1707	703	4	of	of	ADP
cblr-1707	703	5	ioer	ioer	NOUN
cblr-1707	703	6	,	,	PUNCT
cblr-1707	703	7	those	those	DET
cblr-1707	703	8	holders	holder	NOUN
cblr-1707	703	9	are	be	AUX
cblr-1707	703	10	commercial	commercial	ADJ
cblr-1707	703	11	banks	bank	NOUN
cblr-1707	703	12	.	.	PUNCT
cblr-1707	704	1	at	at	ADP
cblr-1707	704	2	this	this	DET
cblr-1707	704	3	writing	writing	NOUN
cblr-1707	704	4	,	,	PUNCT
cblr-1707	704	5	commercial	commercial	ADJ
cblr-1707	704	6	banks	bank	NOUN
cblr-1707	704	7	receive	receive	VERB
cblr-1707	704	8	2.20	2.20	NUM
cblr-1707	704	9	%	%	NOUN
cblr-1707	704	10	interest112	interest112	PROPN
cblr-1707	704	11	on	on	ADP
cblr-1707	704	12	their	their	PRON
cblr-1707	704	13	accounts	account	NOUN
cblr-1707	704	14	with	with	ADP
cblr-1707	704	15	the	the	DET
cblr-1707	704	16	federal	federal	PROPN
cblr-1707	704	17	reserve	reserve	PROPN
cblr-1707	704	18	—	—	PUNCT
cblr-1707	704	19	a	a	DET
cblr-1707	704	20	rate	rate	NOUN
cblr-1707	704	21	not	not	PART
cblr-1707	704	22	available	available	ADJ
cblr-1707	704	23	to	to	ADP
cblr-1707	704	24	ordinary	ordinary	ADJ
cblr-1707	704	25	citizens	citizen	NOUN
cblr-1707	704	26	or	or	CCONJ
cblr-1707	704	27	nonbank	nonbank	NOUN
cblr-1707	704	28	businesses	business	NOUN
cblr-1707	704	29	on	on	ADP
cblr-1707	704	30	their	their	PRON
cblr-1707	704	31	bank	bank	NOUN
cblr-1707	704	32	accounts	account	NOUN
cblr-1707	704	33	.	.	PUNCT
cblr-1707	705	1	these	these	DET
cblr-1707	705	2	interest	interest	NOUN
cblr-1707	705	3	payments	payment	NOUN
cblr-1707	705	4	come	come	VERB
cblr-1707	705	5	at	at	ADP
cblr-1707	705	6	a	a	DET
cblr-1707	705	7	fiscal	fiscal	ADJ
cblr-1707	705	8	cost	cost	NOUN
cblr-1707	705	9	to	to	ADP
cblr-1707	705	10	taxpayers	taxpayer	NOUN
cblr-1707	705	11	.	.	PUNCT
cblr-1707	706	1	recall	recall	VERB
cblr-1707	706	2	from	from	ADP
cblr-1707	706	3	above	above	ADP
cblr-1707	706	4	that	that	SCONJ
cblr-1707	706	5	the	the	DET
cblr-1707	706	6	central	central	ADJ
cblr-1707	706	7	bank	bank	NOUN
cblr-1707	706	8	generates	generate	VERB
cblr-1707	706	9	seigniorage	seigniorage	NOUN
cblr-1707	706	10	revenues	revenue	NOUN
cblr-1707	706	11	to	to	ADP
cblr-1707	706	12	the	the	DET
cblr-1707	706	13	government	government	NOUN
cblr-1707	706	14	,	,	PUNCT
cblr-1707	706	15	consisting	consist	VERB
cblr-1707	706	16	of	of	ADP
cblr-1707	706	17	its	its	PRON
cblr-1707	706	18	portfolio	portfolio	NOUN
cblr-1707	706	19	returns	return	VERB
cblr-1707	706	20	less	less	ADJ
cblr-1707	706	21	expenses	expense	NOUN
cblr-1707	706	22	.	.	PUNCT
cblr-1707	707	1	ioer	ioer	NOUN
cblr-1707	707	2	is	be	AUX
cblr-1707	707	3	an	an	DET
cblr-1707	707	4	expense	expense	NOUN
cblr-1707	707	5	,	,	PUNCT
cblr-1707	707	6	so	so	SCONJ
cblr-1707	707	7	interest	interest	NOUN
cblr-1707	707	8	payments	payment	NOUN
cblr-1707	707	9	to	to	ADP
cblr-1707	707	10	banks	bank	NOUN
cblr-1707	707	11	reduce	reduce	VERB
cblr-1707	707	12	the	the	DET
cblr-1707	707	13	government	government	NOUN
cblr-1707	707	14	’s	’s	PART
cblr-1707	707	15	seigniorage	seigniorage	NOUN
cblr-1707	707	16	revenues	revenue	NOUN
cblr-1707	707	17	dollar	dollar	NOUN
cblr-1707	707	18	-	-	PUNCT
cblr-1707	707	19	for	for	ADP
cblr-1707	707	20	-	-	PUNCT
cblr-1707	707	21	dollar	dollar	NOUN
cblr-1707	707	22	,	,	PUNCT
cblr-1707	707	23	all	all	PRON
cblr-1707	707	24	else	else	ADV
cblr-1707	707	25	being	be	AUX
cblr-1707	707	26	equal	equal	ADJ
cblr-1707	707	27	.	.	PUNCT
cblr-1707	708	1	it	it	PRON
cblr-1707	708	2	is	be	AUX
cblr-1707	708	3	natural	natural	ADJ
cblr-1707	708	4	to	to	PART
cblr-1707	708	5	ask	ask	VERB
cblr-1707	708	6	whether	whether	SCONJ
cblr-1707	708	7	administered	administer	VERB
cblr-1707	708	8	rates	rate	NOUN
cblr-1707	708	9	produce	produce	VERB
cblr-1707	708	10	a	a	DET
cblr-1707	708	11	windfall	windfall	NOUN
cblr-1707	708	12	or	or	CCONJ
cblr-1707	708	13	subsidy	subsidy	VERB
cblr-1707	708	14	to	to	ADP
cblr-1707	708	15	their	their	PRON
cblr-1707	708	16	recipients	recipient	NOUN
cblr-1707	708	17	at	at	ADP
cblr-1707	708	18	taxpayers	taxpayer	NOUN
cblr-1707	708	19	’	’	PART
cblr-1707	708	20	expense	expense	NOUN
cblr-1707	708	21	.	.	PUNCT
cblr-1707	709	1	the	the	DET
cblr-1707	709	2	question	question	NOUN
cblr-1707	709	3	has	have	AUX
cblr-1707	709	4	been	be	AUX
cblr-1707	709	5	controversial	controversial	ADJ
cblr-1707	709	6	.	.	PUNCT
cblr-1707	710	1	in	in	ADP
cblr-1707	710	2	congressional	congressional	ADJ
cblr-1707	710	3	hearings	hearing	NOUN
cblr-1707	710	4	in	in	ADP
cblr-1707	710	5	early	early	ADJ
cblr-1707	710	6	2016	2016	NUM
cblr-1707	710	7	,	,	PUNCT
cblr-1707	710	8	federal	federal	PROPN
cblr-1707	710	9	reserve	reserve	PROPN
cblr-1707	710	10	chair	chair	PROPN
cblr-1707	710	11	janet	janet	PROPN
cblr-1707	710	12	yellen	yellen	PROPN
cblr-1707	710	13	faced	face	VERB
cblr-1707	710	14	pointed	point	VERB
cblr-1707	710	15	questions	question	NOUN
cblr-1707	710	16	on	on	ADP
cblr-1707	710	17	this	this	DET
cblr-1707	710	18	topic	topic	NOUN
cblr-1707	710	19	from	from	ADP
cblr-1707	710	20	both	both	DET
cblr-1707	710	21	democrats	democrats	PROPN
cblr-1707	710	22	and	and	CCONJ
cblr-1707	710	23	republicans	republicans	PROPN
cblr-1707	710	24	.	.	PUNCT
cblr-1707	711	1	one	one	NUM
cblr-1707	711	2	member	member	NOUN
cblr-1707	711	3	of	of	ADP
cblr-1707	711	4	congress	congress	PROPN
cblr-1707	711	5	observed	observe	VERB
cblr-1707	711	6	that	that	SCONJ
cblr-1707	711	7	,	,	PUNCT
cblr-1707	711	8	in	in	ADP
cblr-1707	711	9	2015	2015	NUM
cblr-1707	711	10	,	,	PUNCT
cblr-1707	711	11	the	the	DET
cblr-1707	711	12	federal	federal	PROPN
cblr-1707	711	13	reserve	reserve	PROPN
cblr-1707	711	14	paid	pay	VERB
cblr-1707	711	15	about	about	ADV
cblr-1707	711	16	$	$	SYM
cblr-1707	711	17	7	7	NUM
cblr-1707	711	18	billion	billion	NUM
cblr-1707	711	19	in	in	ADP
cblr-1707	711	20	interest	interest	NOUN
cblr-1707	711	21	to	to	ADP
cblr-1707	711	22	commercial	commercial	ADJ
cblr-1707	711	23	banks	bank	NOUN
cblr-1707	711	24	,	,	PUNCT
cblr-1707	711	25	including	include	VERB
cblr-1707	711	26	more	more	ADJ
cblr-1707	711	27	than	than	ADP
cblr-1707	711	28	$	$	SYM
cblr-1707	711	29	100	100	NUM
cblr-1707	711	30	million	million	NUM
cblr-1707	711	31	to	to	ADP
cblr-1707	711	32	goldman	goldman	NOUN
cblr-1707	711	33	sachs	sachs	NOUN
cblr-1707	711	34	and	and	CCONJ
cblr-1707	711	35	more	more	ADJ
cblr-1707	711	36	than	than	ADP
cblr-1707	711	37	$	$	SYM
cblr-1707	711	38	900	900	NUM
cblr-1707	711	39	million	million	NUM
cblr-1707	711	40	to	to	ADP
cblr-1707	711	41	jpmorgan	jpmorgan	PROPN
cblr-1707	711	42	chase.113	chase.113	PROPN
cblr-1707	711	43	the	the	DET
cblr-1707	711	44	dollar	dollar	NOUN
cblr-1707	711	45	amounts	amount	NOUN
cblr-1707	711	46	are	be	AUX
cblr-1707	711	47	likely	likely	ADJ
cblr-1707	711	48	to	to	PART
cblr-1707	711	49	be	be	AUX
cblr-1707	711	50	much	much	ADV
cblr-1707	711	51	higher	high	ADJ
cblr-1707	711	52	in	in	ADP
cblr-1707	711	53	112	112	NUM
cblr-1707	711	54	bd	bd	NOUN
cblr-1707	711	55	.	.	PROPN
cblr-1707	711	56	of	of	ADP
cblr-1707	711	57	governors	governor	NOUN
cblr-1707	711	58	of	of	ADP
cblr-1707	711	59	the	the	DET
cblr-1707	711	60	fed	fed	PROPN
cblr-1707	711	61	.	.	PUNCT
cblr-1707	712	1	reserve	reserve	PROPN
cblr-1707	712	2	sys	sys	PROPN
cblr-1707	712	3	.	.	PROPN
cblr-1707	712	4	,	,	PUNCT
cblr-1707	712	5	interest	interest	NOUN
cblr-1707	712	6	on	on	ADP
cblr-1707	712	7	required	require	VERB
cblr-1707	712	8	reserve	reserve	NOUN
cblr-1707	712	9	balances	balance	NOUN
cblr-1707	712	10	and	and	CCONJ
cblr-1707	712	11	excess	excess	ADJ
cblr-1707	712	12	balances	balance	NOUN
cblr-1707	712	13	,	,	PUNCT
cblr-1707	712	14	fed	fed	PROPN
cblr-1707	712	15	.	.	PUNCT
cblr-1707	713	1	res	re	NOUN
cblr-1707	713	2	.	.	PROPN
cblr-1707	713	3	,	,	PUNCT
cblr-1707	713	4	https://www.federalreserve.gov/monetarypolicy/reqresbalances.htm	https://www.federalreserve.gov/monetarypolicy/reqresbalances.htm	PROPN
cblr-1707	714	1	[	[	X
cblr-1707	714	2	https://perma.cc/6tme-8fpd	https://perma.cc/6tme-8fpd	X
cblr-1707	714	3	]	]	X
cblr-1707	714	4	(	(	PUNCT
cblr-1707	714	5	last	last	ADV
cblr-1707	714	6	updated	update	VERB
cblr-1707	714	7	nov	nov	PROPN
cblr-1707	714	8	.	.	PROPN
cblr-1707	714	9	28	28	NUM
cblr-1707	714	10	,	,	PUNCT
cblr-1707	714	11	2018	2018	NUM
cblr-1707	714	12	)	)	PUNCT
cblr-1707	714	13	.	.	PUNCT
cblr-1707	715	1	113	113	NUM
cblr-1707	715	2	see	see	VERB
cblr-1707	715	3	peter	peter	PROPN
cblr-1707	715	4	coy	coy	PROPN
cblr-1707	715	5	,	,	PUNCT
cblr-1707	715	6	this	this	PRON
cblr-1707	715	7	is	be	AUX
cblr-1707	715	8	why	why	SCONJ
cblr-1707	715	9	the	the	DET
cblr-1707	715	10	fed	fed	PROPN
cblr-1707	715	11	is	be	AUX
cblr-1707	715	12	paying	pay	VERB
cblr-1707	715	13	interest	interest	NOUN
cblr-1707	715	14	to	to	ADP
cblr-1707	715	15	big	big	ADJ
cblr-1707	715	16	banks	bank	NOUN
cblr-1707	715	17	,	,	PUNCT
cblr-1707	715	18	bloomberg	bloomberg	PROPN
cblr-1707	715	19	(	(	PUNCT
cblr-1707	715	20	feb	feb	PROPN
cblr-1707	715	21	.	.	PROPN
cblr-1707	715	22	10	10	NUM
cblr-1707	715	23	,	,	PUNCT
cblr-1707	715	24	2016	2016	NUM
cblr-1707	715	25	,	,	PUNCT
cblr-1707	715	26	4:57	4:57	NUM
cblr-1707	715	27	pm	pm	NOUN
cblr-1707	715	28	)	)	PUNCT
cblr-1707	715	29	,	,	PUNCT
cblr-1707	715	30	https://www.bloomberg.com/news/articles/2016-02-10/this-is-why-the-fedis-paying-interest-to-big-banks	https://www.bloomberg.com/news/articles/2016-02-10/this-is-why-the-fedis-paying-interest-to-big-bank	NOUN
cblr-1707	715	31	(	(	PUNCT
cblr-1707	715	32	on	on	ADP
cblr-1707	715	33	file	file	NOUN
cblr-1707	715	34	with	with	ADP
cblr-1707	715	35	the	the	DET
cblr-1707	715	36	columbia	columbia	PROPN
cblr-1707	715	37	business	business	PROPN
cblr-1707	715	38	law	law	PROPN
cblr-1707	715	39	review	review	PROPN
cblr-1707	715	40	)	)	PUNCT
cblr-1707	715	41	;	;	PUNCT
cblr-1707	715	42	see	see	VERB
cblr-1707	715	43	also	also	ADV
cblr-1707	715	44	john	john	PROPN
cblr-1707	715	45	carney	carney	PROPN
cblr-1707	715	46	,	,	PUNCT
cblr-1707	715	47	treasury	treasury	PROPN
cblr-1707	715	48	’s	’s	PART
cblr-1707	715	49	secretive	secretive	ADJ
cblr-1707	715	50	$	$	SYM
cblr-1707	715	51	2.4	2.4	NUM
cblr-1707	715	52	trillion	trillion	NUM
cblr-1707	715	53	mutual	mutual	ADJ
cblr-1707	715	54	fund	fund	NOUN
cblr-1707	715	55	guarantee	guarantee	NOUN
cblr-1707	715	56	,	,	PUNCT
cblr-1707	715	57	cnbc	cnbc	PROPN
cblr-1707	715	58	(	(	PUNCT
cblr-1707	715	59	aug	aug	PROPN
cblr-1707	715	60	.	.	PROPN
cblr-1707	715	61	8	8	NUM
cblr-1707	715	62	,	,	PUNCT
cblr-1707	715	63	2012	2012	NUM
cblr-1707	715	64	,	,	PUNCT
cblr-1707	715	65	5:49	5:49	NUM
cblr-1707	715	66	pm	pm	NOUN
cblr-1707	715	67	)	)	PUNCT
cblr-1707	715	68	,	,	PUNCT
cblr-1707	715	69	https://www.cnbc.com/id/48578949	https://www.cnbc.com/id/48578949	PROPN
cblr-1707	716	1	[	[	X
cblr-1707	716	2	https://perma.cc/w7a2-2qrf	https://perma.cc/w7a2-2qrf	X
cblr-1707	716	3	]	]	X
cblr-1707	716	4	.	.	PUNCT
cblr-1707	717	1	for	for	ADP
cblr-1707	717	2	a	a	DET
cblr-1707	717	3	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	717	4	798	798	NUM
cblr-1707	717	5	columbia	columbia	PROPN
cblr-1707	717	6	business	business	NOUN
cblr-1707	717	7	law	law	NOUN
cblr-1707	717	8	review	review	NOUN
cblr-1707	717	9	[	[	X
cblr-1707	717	10	vol	vol	NOUN
cblr-1707	717	11	.	.	NOUN
cblr-1707	717	12	2018	2018	NUM
cblr-1707	717	13	the	the	DET
cblr-1707	717	14	future	future	NOUN
cblr-1707	717	15	as	as	SCONJ
cblr-1707	717	16	rates	rate	NOUN
cblr-1707	717	17	continue	continue	VERB
cblr-1707	717	18	to	to	PART
cblr-1707	717	19	rise	rise	VERB
cblr-1707	717	20	.	.	PUNCT
cblr-1707	718	1	the	the	DET
cblr-1707	718	2	fed	fed	PROPN
cblr-1707	718	3	has	have	AUX
cblr-1707	718	4	projected	project	VERB
cblr-1707	718	5	ioer	ioer	NOUN
cblr-1707	718	6	payments	payment	NOUN
cblr-1707	718	7	totaling	total	VERB
cblr-1707	718	8	$	$	SYM
cblr-1707	718	9	50	50	NUM
cblr-1707	718	10	billion	billion	NUM
cblr-1707	718	11	in	in	ADP
cblr-1707	718	12	2019.114	2019.114	NUM
cblr-1707	718	13	yellen	yellen	NOUN
cblr-1707	718	14	defended	defend	VERB
cblr-1707	718	15	the	the	DET
cblr-1707	718	16	payments	payment	NOUN
cblr-1707	718	17	as	as	ADP
cblr-1707	718	18	essential	essential	ADJ
cblr-1707	718	19	to	to	ADP
cblr-1707	718	20	effective	effective	ADJ
cblr-1707	718	21	monetary	monetary	ADJ
cblr-1707	718	22	policy	policy	NOUN
cblr-1707	718	23	implementation.115	implementation.115	ADV
cblr-1707	718	24	soon	soon	ADV
cblr-1707	718	25	after	after	ADP
cblr-1707	718	26	the	the	DET
cblr-1707	718	27	hearing	hearing	NOUN
cblr-1707	718	28	,	,	PUNCT
cblr-1707	718	29	former	former	ADJ
cblr-1707	718	30	chair	chair	NOUN
cblr-1707	718	31	ben	ben	PROPN
cblr-1707	718	32	bernanke	bernanke	PROPN
cblr-1707	718	33	and	and	CCONJ
cblr-1707	718	34	former	former	ADJ
cblr-1707	718	35	vice	vice	NOUN
cblr-1707	718	36	chair	chair	NOUN
cblr-1707	718	37	don	don	PROPN
cblr-1707	718	38	kohn	kohn	PROPN
cblr-1707	718	39	likewise	likewise	ADV
cblr-1707	718	40	defended	defend	VERB
cblr-1707	718	41	the	the	DET
cblr-1707	718	42	payments	payment	NOUN
cblr-1707	718	43	,	,	PUNCT
cblr-1707	718	44	arguing	argue	VERB
cblr-1707	718	45	that	that	SCONJ
cblr-1707	718	46	the	the	DET
cblr-1707	718	47	payments	payment	NOUN
cblr-1707	718	48	“	"	PUNCT
cblr-1707	718	49	do	do	AUX
cblr-1707	718	50	not	not	PART
cblr-1707	718	51	unduly	unduly	ADV
cblr-1707	718	52	subsidize	subsidize	VERB
cblr-1707	718	53	banks	bank	NOUN
cblr-1707	718	54	.	.	PUNCT
cblr-1707	718	55	”116	”116	PUNCT
cblr-1707	718	56	in	in	ADP
cblr-1707	718	57	support	support	NOUN
cblr-1707	718	58	of	of	ADP
cblr-1707	718	59	this	this	DET
cblr-1707	718	60	claim	claim	NOUN
cblr-1707	718	61	,	,	PUNCT
cblr-1707	718	62	they	they	PRON
cblr-1707	718	63	observed	observe	VERB
cblr-1707	718	64	that	that	SCONJ
cblr-1707	718	65	the	the	DET
cblr-1707	718	66	difference	difference	NOUN
cblr-1707	718	67	between	between	ADP
cblr-1707	718	68	the	the	DET
cblr-1707	718	69	ioer	ioer	NOUN
cblr-1707	718	70	rate	rate	NOUN
cblr-1707	718	71	and	and	CCONJ
cblr-1707	718	72	the	the	DET
cblr-1707	718	73	federal	federal	ADJ
cblr-1707	718	74	funds	fund	NOUN
cblr-1707	718	75	rate	rate	NOUN
cblr-1707	718	76	had	have	AUX
cblr-1707	718	77	tended	tend	VERB
cblr-1707	718	78	to	to	PART
cblr-1707	718	79	hover	hover	VERB
cblr-1707	718	80	around	around	ADV
cblr-1707	718	81	0.13%.117	0.13%.117	NUM
cblr-1707	718	82	noting	note	VERB
cblr-1707	718	83	that	that	SCONJ
cblr-1707	718	84	the	the	DET
cblr-1707	718	85	federal	federal	ADJ
cblr-1707	718	86	funds	fund	NOUN
cblr-1707	718	87	rate	rate	NOUN
cblr-1707	718	88	“	"	PUNCT
cblr-1707	718	89	is	be	AUX
cblr-1707	718	90	one	one	NUM
cblr-1707	718	91	reasonable	reasonable	ADJ
cblr-1707	718	92	measure	measure	NOUN
cblr-1707	718	93	of	of	ADP
cblr-1707	718	94	the	the	DET
cblr-1707	718	95	marginal	marginal	ADJ
cblr-1707	718	96	cost	cost	NOUN
cblr-1707	718	97	of	of	ADP
cblr-1707	718	98	funds	fund	NOUN
cblr-1707	718	99	to	to	ADP
cblr-1707	718	100	banks	bank	NOUN
cblr-1707	718	101	,	,	PUNCT
cblr-1707	718	102	”	"	PUNCT
cblr-1707	718	103	they	they	PRON
cblr-1707	718	104	concluded	conclude	VERB
cblr-1707	718	105	that	that	SCONJ
cblr-1707	718	106	“	"	PUNCT
cblr-1707	718	107	the	the	DET
cblr-1707	718	108	subsidy	subsidy	NOUN
cblr-1707	718	109	to	to	ADP
cblr-1707	718	110	banks	bank	NOUN
cblr-1707	718	111	implicit	implicit	ADJ
cblr-1707	718	112	in	in	ADP
cblr-1707	718	113	the	the	DET
cblr-1707	718	114	fed	fed	PROPN
cblr-1707	718	115	’s	’s	PART
cblr-1707	718	116	interest	interest	NOUN
cblr-1707	718	117	payments	payment	NOUN
cblr-1707	718	118	can	can	AUX
cblr-1707	718	119	be	be	AUX
cblr-1707	718	120	no	no	ADV
cblr-1707	718	121	greater	great	ADJ
cblr-1707	718	122	than	than	ADP
cblr-1707	718	123	[	[	X
cblr-1707	718	124	this	this	DET
cblr-1707	718	125	0.13	0.13	NUM
cblr-1707	718	126	%	%	NOUN
cblr-1707	718	127	]	]	X
cblr-1707	718	128	difference	difference	NOUN
cblr-1707	718	129	,	,	PUNCT
cblr-1707	718	130	”	"	PUNCT
cblr-1707	718	131	which	which	PRON
cblr-1707	718	132	they	they	PRON
cblr-1707	718	133	took	take	VERB
cblr-1707	718	134	to	to	PART
cblr-1707	718	135	be	be	AUX
cblr-1707	718	136	quite	quite	ADV
cblr-1707	718	137	small.118	small.118	VERB
cblr-1707	718	138	the	the	DET
cblr-1707	718	139	bernanke	bernanke	PROPN
cblr-1707	718	140	-	-	PUNCT
cblr-1707	718	141	kohn	kohn	PROPN
cblr-1707	718	142	analysis	analysis	NOUN
cblr-1707	718	143	is	be	AUX
cblr-1707	718	144	unconvincing	unconvincing	ADJ
cblr-1707	718	145	.	.	PUNCT
cblr-1707	719	1	reserve	reserve	NOUN
cblr-1707	719	2	balances	balance	NOUN
cblr-1707	719	3	outstanding	outstanding	ADJ
cblr-1707	719	4	currently	currently	ADV
cblr-1707	719	5	dwarf	dwarf	VERB
cblr-1707	719	6	federal	federal	ADJ
cblr-1707	719	7	funds	fund	NOUN
cblr-1707	719	8	borrowings	borrowing	NOUN
cblr-1707	719	9	by	by	ADP
cblr-1707	719	10	a	a	DET
cblr-1707	719	11	factor	factor	NOUN
cblr-1707	719	12	of	of	ADP
cblr-1707	719	13	about	about	ADP
cblr-1707	719	14	thirty.119	thirty.119	NOUN
cblr-1707	719	15	the	the	DET
cblr-1707	719	16	dollar	dollar	NOUN
cblr-1707	719	17	amount	amount	NOUN
cblr-1707	719	18	of	of	ADP
cblr-1707	719	19	interest	interest	NOUN
cblr-1707	719	20	payments	payment	NOUN
cblr-1707	719	21	in	in	ADP
cblr-1707	719	22	the	the	DET
cblr-1707	719	23	federal	federal	ADJ
cblr-1707	719	24	funds	fund	NOUN
cblr-1707	719	25	market	market	NOUN
cblr-1707	719	26	is	be	AUX
cblr-1707	719	27	therefore	therefore	ADV
cblr-1707	719	28	only	only	ADV
cblr-1707	719	29	a	a	DET
cblr-1707	719	30	tiny	tiny	ADJ
cblr-1707	719	31	fraction	fraction	NOUN
cblr-1707	719	32	of	of	ADP
cblr-1707	719	33	the	the	DET
cblr-1707	719	34	dollar	dollar	NOUN
cblr-1707	719	35	amount	amount	NOUN
cblr-1707	719	36	of	of	ADP
cblr-1707	719	37	ioer	ioer	NOUN
cblr-1707	719	38	payments	payment	NOUN
cblr-1707	719	39	over	over	ADP
cblr-1707	719	40	any	any	DET
cblr-1707	719	41	given	give	VERB
cblr-1707	719	42	period	period	NOUN
cblr-1707	719	43	.	.	PUNCT
cblr-1707	720	1	as	as	SCONJ
cblr-1707	720	2	passthrough	passthrough	NOUN
cblr-1707	720	3	efficiency	efficiency	NOUN
cblr-1707	720	4	in	in	ADP
cblr-1707	720	5	the	the	DET
cblr-1707	720	6	money	money	NOUN
cblr-1707	720	7	markets	market	NOUN
cblr-1707	720	8	is	be	AUX
cblr-1707	720	9	limited––arguably	limited––arguably	ADV
cblr-1707	720	10	owing	owe	VERB
cblr-1707	720	11	largely	largely	ADV
cblr-1707	720	12	to	to	PART
cblr-1707	720	13	imperfect	imperfect	VERB
cblr-1707	720	14	broader	broad	ADJ
cblr-1707	720	15	discussion	discussion	NOUN
cblr-1707	720	16	of	of	ADP
cblr-1707	720	17	the	the	DET
cblr-1707	720	18	program	program	NOUN
cblr-1707	720	19	,	,	PUNCT
cblr-1707	720	20	see	see	VERB
cblr-1707	720	21	kathryn	kathryn	PROPN
cblr-1707	720	22	judge	judge	PROPN
cblr-1707	720	23	,	,	PUNCT
cblr-1707	720	24	guarantor	guarantor	NOUN
cblr-1707	720	25	of	of	ADP
cblr-1707	720	26	last	last	ADJ
cblr-1707	720	27	resort	resort	NOUN
cblr-1707	720	28	,	,	PUNCT
cblr-1707	720	29	97	97	NUM
cblr-1707	720	30	tex	tex	PROPN
cblr-1707	720	31	.	.	PROPN
cblr-1707	720	32	l.	l.	PROPN
cblr-1707	720	33	rev	rev	PROPN
cblr-1707	720	34	.	.	PUNCT
cblr-1707	721	1	(	(	PUNCT
cblr-1707	721	2	forthcoming	forthcoming	ADJ
cblr-1707	721	3	2019	2019	NUM
cblr-1707	721	4	)	)	PUNCT
cblr-1707	721	5	.	.	PUNCT
cblr-1707	722	1	114	114	NUM
cblr-1707	722	2	see	see	VERB
cblr-1707	722	3	erin	erin	PROPN
cblr-1707	722	4	e.	e.	PROPN
cblr-1707	722	5	syron	syron	PROPN
cblr-1707	722	6	ferris	ferris	PROPN
cblr-1707	722	7	,	,	PUNCT
cblr-1707	722	8	soo	soo	PROPN
cblr-1707	722	9	jeong	jeong	PROPN
cblr-1707	722	10	kim	kim	PROPN
cblr-1707	722	11	&	&	CCONJ
cblr-1707	722	12	bernd	bernd	PROPN
cblr-1707	722	13	schlusche	schlusche	PROPN
cblr-1707	722	14	,	,	PUNCT
cblr-1707	722	15	confidence	confidence	NOUN
cblr-1707	722	16	interval	interval	NOUN
cblr-1707	722	17	projections	projection	NOUN
cblr-1707	722	18	of	of	ADP
cblr-1707	722	19	the	the	DET
cblr-1707	722	20	federal	federal	PROPN
cblr-1707	722	21	reserve	reserve	PROPN
cblr-1707	722	22	balance	balance	NOUN
cblr-1707	722	23	sheet	sheet	NOUN
cblr-1707	722	24	and	and	CCONJ
cblr-1707	722	25	income	income	NOUN
cblr-1707	722	26	,	,	PUNCT
cblr-1707	722	27	bd	bd	PROPN
cblr-1707	722	28	.	.	PROPN
cblr-1707	722	29	of	of	ADP
cblr-1707	722	30	governors	governor	NOUN
cblr-1707	722	31	of	of	ADP
cblr-1707	722	32	the	the	DET
cblr-1707	722	33	fed	fed	PROPN
cblr-1707	722	34	.	.	PUNCT
cblr-1707	723	1	res	re	NOUN
cblr-1707	723	2	.	.	PUNCT
cblr-1707	724	1	sys	sys	PROPN
cblr-1707	724	2	.	.	PUNCT
cblr-1707	725	1	fig.5	fig.5	PROPN
cblr-1707	725	2	(	(	PUNCT
cblr-1707	725	3	jan	jan	PROPN
cblr-1707	725	4	.	.	PROPN
cblr-1707	725	5	13	13	NUM
cblr-1707	725	6	,	,	PUNCT
cblr-1707	725	7	2017	2017	NUM
cblr-1707	725	8	)	)	PUNCT
cblr-1707	725	9	,	,	PUNCT
cblr-1707	725	10	https://doi.org/10.17016/2380-7172.1875	https://doi.org/10.17016/2380-7172.1875	PRON
cblr-1707	726	1	[	[	X
cblr-1707	726	2	https://perma.cc/3whf-kgr5	https://perma.cc/3whf-kgr5	PROPN
cblr-1707	726	3	]	]	PUNCT
cblr-1707	726	4	.	.	PUNCT
cblr-1707	727	1	115	115	NUM
cblr-1707	727	2	see	see	VERB
cblr-1707	727	3	ann	ann	PROPN
cblr-1707	727	4	saphir	saphir	PROPN
cblr-1707	727	5	,	,	PUNCT
cblr-1707	727	6	yellen	yellen	PROPN
cblr-1707	727	7	draws	draw	VERB
cblr-1707	727	8	fire	fire	NOUN
cblr-1707	727	9	for	for	ADP
cblr-1707	727	10	fed	fed	PROPN
cblr-1707	727	11	policy	policy	NOUN
cblr-1707	727	12	to	to	PART
cblr-1707	727	13	pay	pay	VERB
cblr-1707	727	14	banks	bank	NOUN
cblr-1707	727	15	,	,	PUNCT
cblr-1707	727	16	reuters	reuters	PROPN
cblr-1707	727	17	(	(	PUNCT
cblr-1707	727	18	feb	feb	PROPN
cblr-1707	727	19	.	.	PROPN
cblr-1707	727	20	10	10	NUM
cblr-1707	727	21	,	,	PUNCT
cblr-1707	727	22	2016	2016	NUM
cblr-1707	727	23	)	)	PUNCT
cblr-1707	727	24	,	,	PUNCT
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cblr-1707	728	1	[	[	X
cblr-1707	728	2	https://perma.cc/3q3q-9vsn	https://perma.cc/3q3q-9vsn	X
cblr-1707	728	3	]	]	X
cblr-1707	728	4	.	.	PUNCT
cblr-1707	729	1	116	116	NUM
cblr-1707	729	2	bernanke	bernanke	PROPN
cblr-1707	729	3	&	&	CCONJ
cblr-1707	729	4	kohn	kohn	PROPN
cblr-1707	729	5	,	,	PUNCT
cblr-1707	729	6	supra	supra	PROPN
cblr-1707	729	7	note	note	PROPN
cblr-1707	729	8	88	88	NUM
cblr-1707	729	9	.	.	PUNCT
cblr-1707	730	1	117	117	NUM
cblr-1707	730	2	see	see	VERB
cblr-1707	730	3	i	i	PROPN
cblr-1707	730	4	d.	d.	PROPN
cblr-1707	730	5	118	118	NUM
cblr-1707	731	1	i	i	PROPN
cblr-1707	731	2	d.	d.	PROPN
cblr-1707	731	3	119	119	NUM
cblr-1707	731	4	federal	federal	PROPN
cblr-1707	731	5	reserve	reserve	PROPN
cblr-1707	731	6	economic	economic	ADJ
cblr-1707	731	7	data	datum	NOUN
cblr-1707	731	8	(	(	PUNCT
cblr-1707	731	9	“	"	PUNCT
cblr-1707	731	10	fred	fred	PROPN
cblr-1707	731	11	”	"	PUNCT
cblr-1707	731	12	)	)	PUNCT
cblr-1707	731	13	,	,	PUNCT
cblr-1707	731	14	effective	effective	ADJ
cblr-1707	731	15	federal	federal	ADJ
cblr-1707	731	16	funds	fund	NOUN
cblr-1707	731	17	volume	volume	NOUN
cblr-1707	731	18	(	(	PUNCT
cblr-1707	731	19	“	"	PUNCT
cblr-1707	731	20	effrvol	effrvol	NOUN
cblr-1707	731	21	”	"	PUNCT
cblr-1707	731	22	)	)	PUNCT
cblr-1707	731	23	,	,	PUNCT
cblr-1707	731	24	(	(	PUNCT
cblr-1707	731	25	2018	2018	NUM
cblr-1707	731	26	)	)	PUNCT
cblr-1707	731	27	,	,	PUNCT
cblr-1707	731	28	fed	fed	PROPN
cblr-1707	731	29	.	.	PUNCT
cblr-1707	732	1	res	res	PROPN
cblr-1707	732	2	.	.	PUNCT
cblr-1707	732	3	bank	bank	PROPN
cblr-1707	732	4	of	of	ADP
cblr-1707	732	5	st	st	PROPN
cblr-1707	732	6	.	.	PROPN
cblr-1707	732	7	louis	louis	PROPN
cblr-1707	732	8	,	,	PUNCT
cblr-1707	732	9	https://fred.stlouisfed.org/series/effrvol	https://fred.stlouisfed.org/series/effrvol	NOUN
cblr-1707	733	1	[	[	X
cblr-1707	733	2	https://perma.cc/5vur-6hcb	https://perma.cc/5vur-6hcb	X
cblr-1707	733	3	]	]	X
cblr-1707	733	4	;	;	PUNCT
cblr-1707	733	5	federal	federal	PROPN
cblr-1707	733	6	reserve	reserve	PROPN
cblr-1707	733	7	economic	economic	ADJ
cblr-1707	733	8	data	datum	NOUN
cblr-1707	733	9	(	(	PUNCT
cblr-1707	733	10	“	"	PUNCT
cblr-1707	733	11	fred	fred	PROPN
cblr-1707	733	12	”	"	PUNCT
cblr-1707	733	13	)	)	PUNCT
cblr-1707	733	14	,	,	PUNCT
cblr-1707	733	15	reserve	reserve	NOUN
cblr-1707	733	16	balances	balance	NOUN
cblr-1707	733	17	with	with	ADP
cblr-1707	733	18	federal	federal	ADJ
cblr-1707	733	19	reserve	reserve	NOUN
cblr-1707	733	20	banks	bank	NOUN
cblr-1707	733	21	(	(	PUNCT
cblr-1707	733	22	“	"	PUNCT
cblr-1707	733	23	wresbal	wresbal	PROPN
cblr-1707	733	24	”	"	PUNCT
cblr-1707	733	25	)	)	PUNCT
cblr-1707	733	26	,	,	PUNCT
cblr-1707	733	27	(	(	PUNCT
cblr-1707	733	28	2018	2018	NUM
cblr-1707	733	29	)	)	PUNCT
cblr-1707	733	30	,	,	PUNCT
cblr-1707	733	31	fed	fed	PROPN
cblr-1707	733	32	.	.	PUNCT
cblr-1707	734	1	res	res	PROPN
cblr-1707	734	2	.	.	PUNCT
cblr-1707	734	3	bank	bank	PROPN
cblr-1707	734	4	of	of	ADP
cblr-1707	734	5	st	st	PROPN
cblr-1707	734	6	.	.	PROPN
cblr-1707	734	7	louis	louis	PROPN
cblr-1707	734	8	,	,	PUNCT
cblr-1707	734	9	https://fred.stlouisfed.org/series/wresbal	https://fred.stlouisfed.org/series/wresbal	PROPN
cblr-1707	735	1	[	[	X
cblr-1707	735	2	https://perma.cc/t3y3-37vz	https://perma.cc/t3y3-37vz	X
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cblr-1707	735	4	.	.	PUNCT
cblr-1707	736	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	736	2	no	no	NOUN
cblr-1707	736	3	.	.	PUNCT
cblr-1707	737	1	3:757	3:757	NUM
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cblr-1707	737	3	money	money	NOUN
cblr-1707	737	4	as	as	ADP
cblr-1707	737	5	infrastructure	infrastructure	NOUN
cblr-1707	737	6	799	799	NUM
cblr-1707	737	7	competition––it	competition––it	PROPN
cblr-1707	737	8	is	be	AUX
cblr-1707	737	9	impossible	impossible	ADJ
cblr-1707	737	10	to	to	PART
cblr-1707	737	11	reach	reach	VERB
cblr-1707	737	12	any	any	DET
cblr-1707	737	13	meaningful	meaningful	ADJ
cblr-1707	737	14	conclusions	conclusion	NOUN
cblr-1707	737	15	about	about	ADP
cblr-1707	737	16	the	the	DET
cblr-1707	737	17	existence	existence	NOUN
cblr-1707	737	18	or	or	CCONJ
cblr-1707	737	19	size	size	NOUN
cblr-1707	737	20	of	of	ADP
cblr-1707	737	21	subsidies	subsidy	NOUN
cblr-1707	737	22	by	by	ADP
cblr-1707	737	23	simply	simply	ADV
cblr-1707	737	24	comparing	compare	VERB
cblr-1707	737	25	the	the	DET
cblr-1707	737	26	ioer	ioer	NOUN
cblr-1707	737	27	rate	rate	NOUN
cblr-1707	737	28	with	with	ADP
cblr-1707	737	29	the	the	DET
cblr-1707	737	30	federal	federal	ADJ
cblr-1707	737	31	funds	fund	NOUN
cblr-1707	737	32	rate	rate	NOUN
cblr-1707	737	33	;	;	PUNCT
cblr-1707	737	34	quantifying	quantify	VERB
cblr-1707	737	35	subsidies	subsidy	NOUN
cblr-1707	737	36	requires	require	VERB
cblr-1707	737	37	analysis	analysis	NOUN
cblr-1707	737	38	of	of	ADP
cblr-1707	737	39	total	total	ADJ
cblr-1707	737	40	or	or	CCONJ
cblr-1707	737	41	average	average	ADJ
cblr-1707	737	42	,	,	PUNCT
cblr-1707	737	43	rather	rather	ADV
cblr-1707	737	44	than	than	ADP
cblr-1707	737	45	marginal	marginal	ADJ
cblr-1707	737	46	,	,	PUNCT
cblr-1707	737	47	costs	cost	NOUN
cblr-1707	737	48	of	of	ADP
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cblr-1707	737	50	.	.	PUNCT
cblr-1707	738	1	on	on	ADP
cblr-1707	738	2	top	top	NOUN
cblr-1707	738	3	of	of	ADP
cblr-1707	738	4	that	that	PRON
cblr-1707	738	5	,	,	PUNCT
cblr-1707	738	6	adding	add	VERB
cblr-1707	738	7	the	the	DET
cblr-1707	738	8	on	on	ADP
cblr-1707	738	9	-	-	PUNCT
cblr-1707	738	10	rrp	rrp	NOUN
cblr-1707	738	11	facility	facility	NOUN
cblr-1707	738	12	might	might	AUX
cblr-1707	738	13	make	make	VERB
cblr-1707	738	14	matters	matter	NOUN
cblr-1707	738	15	worse	bad	ADJ
cblr-1707	738	16	from	from	ADP
cblr-1707	738	17	a	a	DET
cblr-1707	738	18	distributional	distributional	ADJ
cblr-1707	738	19	standpoint	standpoint	NOUN
cblr-1707	738	20	.	.	PUNCT
cblr-1707	739	1	in	in	ADP
cblr-1707	739	2	the	the	DET
cblr-1707	739	3	duffiekrishnamurthy	duffiekrishnamurthy	PROPN
cblr-1707	739	4	model	model	NOUN
cblr-1707	739	5	described	describe	VERB
cblr-1707	739	6	above	above	ADV
cblr-1707	739	7	,	,	PUNCT
cblr-1707	739	8	passthrough	passthrough	NOUN
cblr-1707	739	9	efficiency	efficiency	NOUN
cblr-1707	739	10	to	to	ADP
cblr-1707	739	11	the	the	DET
cblr-1707	739	12	broader	broad	ADJ
cblr-1707	739	13	money	money	NOUN
cblr-1707	739	14	markets	market	NOUN
cblr-1707	739	15	improves	improve	VERB
cblr-1707	739	16	when	when	SCONJ
cblr-1707	739	17	the	the	DET
cblr-1707	739	18	on	on	ADP
cblr-1707	739	19	-	-	PUNCT
cblr-1707	739	20	rrp	rrp	NOUN
cblr-1707	739	21	facility	facility	NOUN
cblr-1707	739	22	is	be	AUX
cblr-1707	739	23	added	add	VERB
cblr-1707	739	24	to	to	ADP
cblr-1707	739	25	ioer.120	ioer.120	PROPN
cblr-1707	739	26	however	however	ADV
cblr-1707	739	27	,	,	PUNCT
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cblr-1707	739	29	result	result	NOUN
cblr-1707	739	30	comes	come	VERB
cblr-1707	739	31	at	at	ADP
cblr-1707	739	32	the	the	DET
cblr-1707	739	33	expense	expense	NOUN
cblr-1707	739	34	of	of	ADP
cblr-1707	739	35	reducing	reduce	VERB
cblr-1707	739	36	passthrough	passthrough	NOUN
cblr-1707	739	37	to	to	ADP
cblr-1707	739	38	less	less	ADV
cblr-1707	739	39	sophisticated	sophisticated	ADJ
cblr-1707	739	40	depositors	depositor	NOUN
cblr-1707	739	41	.	.	PUNCT
cblr-1707	740	1	specifically	specifically	ADV
cblr-1707	740	2	,	,	PUNCT
cblr-1707	740	3	sophisticated	sophisticated	ADJ
cblr-1707	740	4	parties	party	NOUN
cblr-1707	740	5	move	move	VERB
cblr-1707	740	6	out	out	ADP
cblr-1707	740	7	of	of	ADP
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cblr-1707	740	9	deposits	deposit	NOUN
cblr-1707	740	10	and	and	CCONJ
cblr-1707	740	11	into	into	ADP
cblr-1707	740	12	higher	higher	ADV
cblr-1707	740	13	-	-	PUNCT
cblr-1707	740	14	yielding	yield	VERB
cblr-1707	740	15	money	money	NOUN
cblr-1707	740	16	market	market	NOUN
cblr-1707	740	17	alternatives	alternative	NOUN
cblr-1707	740	18	;	;	PUNCT
cblr-1707	740	19	banks	bank	NOUN
cblr-1707	740	20	then	then	ADV
cblr-1707	740	21	exploit	exploit	VERB
cblr-1707	740	22	their	their	PRON
cblr-1707	740	23	market	market	NOUN
cblr-1707	740	24	power	power	NOUN
cblr-1707	740	25	over	over	ADP
cblr-1707	740	26	less	less	ADV
cblr-1707	740	27	sophisticated	sophisticated	ADJ
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cblr-1707	741	1	perhaps	perhaps	ADV
cblr-1707	741	2	for	for	ADP
cblr-1707	741	3	this	this	DET
cblr-1707	741	4	reason	reason	NOUN
cblr-1707	741	5	,	,	PUNCT
cblr-1707	741	6	the	the	DET
cblr-1707	741	7	federal	federal	PROPN
cblr-1707	741	8	reserve	reserve	PROPN
cblr-1707	741	9	has	have	AUX
cblr-1707	741	10	indicated	indicate	VERB
cblr-1707	741	11	that	that	SCONJ
cblr-1707	741	12	it	it	PRON
cblr-1707	741	13	intends	intend	VERB
cblr-1707	741	14	to	to	PART
cblr-1707	741	15	use	use	VERB
cblr-1707	741	16	the	the	DET
cblr-1707	741	17	onrrp	onrrp	PROPN
cblr-1707	741	18	facility	facility	NOUN
cblr-1707	741	19	“	"	PUNCT
cblr-1707	741	20	only	only	ADV
cblr-1707	741	21	to	to	ADP
cblr-1707	741	22	the	the	DET
cblr-1707	741	23	extent	extent	NOUN
cblr-1707	741	24	necessary	necessary	ADJ
cblr-1707	741	25	and	and	CCONJ
cblr-1707	741	26	will	will	AUX
cblr-1707	741	27	phase	phase	VERB
cblr-1707	741	28	it	it	PRON
cblr-1707	741	29	out	out	ADP
cblr-1707	741	30	when	when	SCONJ
cblr-1707	741	31	it	it	PRON
cblr-1707	741	32	is	be	AUX
cblr-1707	741	33	no	no	ADV
cblr-1707	741	34	longer	long	ADV
cblr-1707	741	35	needed	need	VERB
cblr-1707	741	36	to	to	PART
cblr-1707	741	37	help	help	VERB
cblr-1707	741	38	control	control	VERB
cblr-1707	741	39	the	the	DET
cblr-1707	741	40	federal	federal	ADJ
cblr-1707	741	41	funds	fund	NOUN
cblr-1707	741	42	rate	rate	NOUN
cblr-1707	741	43	.	.	PUNCT
cblr-1707	742	1	”121	”121	ADJ
cblr-1707	742	2	how	how	SCONJ
cblr-1707	742	3	then	then	ADV
cblr-1707	742	4	,	,	PUNCT
cblr-1707	742	5	should	should	AUX
cblr-1707	742	6	one	one	PRON
cblr-1707	742	7	think	think	VERB
cblr-1707	742	8	about	about	ADP
cblr-1707	742	9	the	the	DET
cblr-1707	742	10	shift	shift	NOUN
cblr-1707	742	11	to	to	PART
cblr-1707	742	12	administered	administer	VERB
cblr-1707	742	13	rates	rate	NOUN
cblr-1707	742	14	as	as	ADP
cblr-1707	742	15	the	the	DET
cblr-1707	742	16	central	central	ADJ
cblr-1707	742	17	operational	operational	ADJ
cblr-1707	742	18	tool	tool	NOUN
cblr-1707	742	19	of	of	ADP
cblr-1707	742	20	monetary	monetary	ADJ
cblr-1707	742	21	policy	policy	NOUN
cblr-1707	742	22	?	?	PUNCT
cblr-1707	743	1	keep	keep	VERB
cblr-1707	743	2	in	in	ADP
cblr-1707	743	3	mind	mind	NOUN
cblr-1707	743	4	that	that	SCONJ
cblr-1707	743	5	other	other	ADJ
cblr-1707	743	6	tools	tool	NOUN
cblr-1707	743	7	were	be	AUX
cblr-1707	743	8	and	and	CCONJ
cblr-1707	743	9	are	be	AUX
cblr-1707	743	10	available	available	ADJ
cblr-1707	743	11	.	.	PUNCT
cblr-1707	744	1	as	as	SCONJ
cblr-1707	744	2	noted	note	VERB
cblr-1707	744	3	above	above	ADV
cblr-1707	744	4	,	,	PUNCT
cblr-1707	744	5	the	the	DET
cblr-1707	744	6	fed	fed	PROPN
cblr-1707	744	7	could	could	AUX
cblr-1707	744	8	tighten	tighten	VERB
cblr-1707	744	9	by	by	ADP
cblr-1707	744	10	reversing	reverse	VERB
cblr-1707	744	11	the	the	DET
cblr-1707	744	12	lsaps	lsap	NOUN
cblr-1707	744	13	—	—	PUNCT
cblr-1707	744	14	a	a	DET
cblr-1707	744	15	strategy	strategy	NOUN
cblr-1707	744	16	that	that	PRON
cblr-1707	744	17	would	would	AUX
cblr-1707	744	18	require	require	VERB
cblr-1707	744	19	no	no	DET
cblr-1707	744	20	payments	payment	NOUN
cblr-1707	744	21	to	to	ADP
cblr-1707	744	22	banks	bank	NOUN
cblr-1707	744	23	or	or	CCONJ
cblr-1707	744	24	other	other	ADJ
cblr-1707	744	25	counterparties	counterpartie	NOUN
cblr-1707	744	26	.	.	PUNCT
cblr-1707	745	1	fed	fed	PROPN
cblr-1707	745	2	officials	official	NOUN
cblr-1707	745	3	have	have	AUX
cblr-1707	745	4	expressed	express	VERB
cblr-1707	745	5	some	some	DET
cblr-1707	745	6	reservations	reservation	NOUN
cblr-1707	745	7	about	about	ADP
cblr-1707	745	8	this	this	DET
cblr-1707	745	9	strategy	strategy	NOUN
cblr-1707	745	10	,	,	PUNCT
cblr-1707	745	11	including	include	VERB
cblr-1707	745	12	concerns	concern	NOUN
cblr-1707	745	13	that	that	SCONJ
cblr-1707	745	14	it	it	PRON
cblr-1707	745	15	might	might	AUX
cblr-1707	745	16	disrupt	disrupt	VERB
cblr-1707	745	17	financial	financial	ADJ
cblr-1707	745	18	markets.122	markets.122	NOUN
cblr-1707	745	19	but	but	CCONJ
cblr-1707	745	20	it	it	PRON
cblr-1707	745	21	is	be	AUX
cblr-1707	745	22	far	far	ADV
cblr-1707	745	23	from	from	ADP
cblr-1707	745	24	clear	clear	ADJ
cblr-1707	745	25	how	how	SCONJ
cblr-1707	745	26	serious	serious	ADJ
cblr-1707	745	27	this	this	DET
cblr-1707	745	28	risk	risk	NOUN
cblr-1707	745	29	is	be	AUX
cblr-1707	745	30	.	.	PUNCT
cblr-1707	746	1	and	and	CCONJ
cblr-1707	746	2	there	there	PRON
cblr-1707	746	3	is	be	VERB
cblr-1707	746	4	no	no	DET
cblr-1707	746	5	indication	indication	NOUN
cblr-1707	746	6	that	that	SCONJ
cblr-1707	746	7	the	the	DET
cblr-1707	746	8	fed	fed	PROPN
cblr-1707	746	9	has	have	AUX
cblr-1707	746	10	weighed	weigh	VERB
cblr-1707	746	11	this	this	DET
cblr-1707	746	12	risk	risk	NOUN
cblr-1707	746	13	against	against	ADP
cblr-1707	746	14	the	the	DET
cblr-1707	746	15	problems	problem	NOUN
cblr-1707	746	16	with	with	ADP
cblr-1707	746	17	administered	administer	VERB
cblr-1707	746	18	rates	rate	NOUN
cblr-1707	746	19	,	,	PUNCT
cblr-1707	746	20	including	include	VERB
cblr-1707	746	21	their	their	PRON
cblr-1707	746	22	questionable	questionable	ADJ
cblr-1707	746	23	efficacy	efficacy	NOUN
cblr-1707	746	24	as	as	ADV
cblr-1707	746	25	well	well	ADV
cblr-1707	746	26	as	as	ADP
cblr-1707	746	27	the	the	DET
cblr-1707	746	28	distributional	distributional	ADJ
cblr-1707	746	29	concerns	concern	NOUN
cblr-1707	746	30	just	just	ADV
cblr-1707	746	31	described	describe	VERB
cblr-1707	746	32	.	.	PUNCT
cblr-1707	747	1	finally	finally	ADV
cblr-1707	747	2	,	,	PUNCT
cblr-1707	747	3	this	this	DET
cblr-1707	747	4	discussion	discussion	NOUN
cblr-1707	747	5	has	have	AUX
cblr-1707	747	6	omitted	omit	VERB
cblr-1707	747	7	one	one	NUM
cblr-1707	747	8	other	other	ADJ
cblr-1707	747	9	possible	possible	ADJ
cblr-1707	747	10	tool	tool	NOUN
cblr-1707	747	11	for	for	ADP
cblr-1707	747	12	monetary	monetary	ADJ
cblr-1707	747	13	tightening	tightening	NOUN
cblr-1707	747	14	:	:	PUNCT
cblr-1707	747	15	the	the	DET
cblr-1707	747	16	textbook	textbook	NOUN
cblr-1707	747	17	tool	tool	NOUN
cblr-1707	747	18	of	of	ADP
cblr-1707	747	19	raising	raise	VERB
cblr-1707	747	20	reserve	reserve	NOUN
cblr-1707	747	21	requirements.123	requirements.123	VERB
cblr-1707	747	22	with	with	ADP
cblr-1707	747	23	a	a	DET
cblr-1707	747	24	large	large	ADJ
cblr-1707	747	25	enough	enough	ADJ
cblr-1707	747	26	increase	increase	NOUN
cblr-1707	747	27	in	in	ADP
cblr-1707	747	28	reserve	reserve	NOUN
cblr-1707	747	29	120	120	NUM
cblr-1707	747	30	see	see	VERB
cblr-1707	747	31	duffie	duffie	PROPN
cblr-1707	747	32	&	&	CCONJ
cblr-1707	747	33	krishnamurthy	krishnamurthy	PROPN
cblr-1707	747	34	,	,	PUNCT
cblr-1707	747	35	supra	supra	PROPN
cblr-1707	747	36	note	note	NOUN
cblr-1707	747	37	101	101	NUM
cblr-1707	747	38	.	.	NOUN
cblr-1707	747	39	121	121	NUM
cblr-1707	747	40	policy	policy	NOUN
cblr-1707	747	41	normalization	normalization	NOUN
cblr-1707	747	42	principles	principle	NOUN
cblr-1707	747	43	and	and	CCONJ
cblr-1707	747	44	plans	plan	NOUN
cblr-1707	747	45	,	,	PUNCT
cblr-1707	747	46	supra	supra	PROPN
cblr-1707	747	47	note	note	NOUN
cblr-1707	747	48	75	75	NUM
cblr-1707	747	49	,	,	PUNCT
cblr-1707	747	50	at	at	ADP
cblr-1707	747	51	1	1	NUM
cblr-1707	747	52	.	.	X
cblr-1707	747	53	122	122	NUM
cblr-1707	747	54	see	see	VERB
cblr-1707	747	55	,	,	PUNCT
cblr-1707	747	56	e.g.	e.g.	ADV
cblr-1707	747	57	,	,	PUNCT
cblr-1707	747	58	bernanke	bernanke	PROPN
cblr-1707	747	59	,	,	PUNCT
cblr-1707	747	60	supra	supra	ADJ
cblr-1707	747	61	note	note	NOUN
cblr-1707	748	1	76	76	NUM
cblr-1707	748	2	.	.	PUNCT
cblr-1707	749	1	123	123	NUM
cblr-1707	749	2	see	see	VERB
cblr-1707	749	3	,	,	PUNCT
cblr-1707	749	4	e.g.	e.g.	ADV
cblr-1707	749	5	,	,	PUNCT
cblr-1707	749	6	mishkin	mishkin	NOUN
cblr-1707	749	7	,	,	PUNCT
cblr-1707	749	8	supra	supra	PROPN
cblr-1707	749	9	note	note	PROPN
cblr-1707	749	10	17	17	NUM
cblr-1707	749	11	,	,	PUNCT
cblr-1707	749	12	at	at	ADP
cblr-1707	749	13	415	415	NUM
cblr-1707	749	14	.	.	PUNCT
cblr-1707	750	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	750	2	800	800	NUM
cblr-1707	750	3	columbia	columbia	PROPN
cblr-1707	750	4	business	business	NOUN
cblr-1707	750	5	law	law	NOUN
cblr-1707	750	6	review	review	NOUN
cblr-1707	750	7	[	[	X
cblr-1707	750	8	vol	vol	NOUN
cblr-1707	750	9	.	.	NOUN
cblr-1707	750	10	2018	2018	NUM
cblr-1707	750	11	requirements	requirement	NOUN
cblr-1707	750	12	,	,	PUNCT
cblr-1707	750	13	reserves	reserve	NOUN
cblr-1707	750	14	would	would	AUX
cblr-1707	750	15	again	again	ADV
cblr-1707	750	16	be	be	AUX
cblr-1707	750	17	scarce	scarce	ADJ
cblr-1707	750	18	,	,	PUNCT
cblr-1707	750	19	and	and	CCONJ
cblr-1707	750	20	the	the	DET
cblr-1707	750	21	fed	fed	PROPN
cblr-1707	750	22	could	could	AUX
cblr-1707	750	23	again	again	ADV
cblr-1707	750	24	control	control	VERB
cblr-1707	750	25	the	the	DET
cblr-1707	750	26	federal	federal	ADJ
cblr-1707	750	27	funds	fund	NOUN
cblr-1707	750	28	rate	rate	NOUN
cblr-1707	750	29	using	use	VERB
cblr-1707	750	30	small	small	ADJ
cblr-1707	750	31	open	open	ADJ
cblr-1707	750	32	market	market	NOUN
cblr-1707	750	33	operations.124	operations.124	NOUN
cblr-1707	750	34	this	this	DET
cblr-1707	750	35	strategy	strategy	NOUN
cblr-1707	750	36	,	,	PUNCT
cblr-1707	750	37	like	like	ADP
cblr-1707	750	38	lsap	lsap	PRON
cblr-1707	750	39	reversal	reversal	NOUN
cblr-1707	750	40	,	,	PUNCT
cblr-1707	750	41	would	would	AUX
cblr-1707	750	42	involve	involve	VERB
cblr-1707	750	43	no	no	DET
cblr-1707	750	44	payments	payment	NOUN
cblr-1707	750	45	to	to	ADP
cblr-1707	750	46	banks	bank	NOUN
cblr-1707	750	47	.	.	PUNCT
cblr-1707	751	1	nor	nor	CCONJ
cblr-1707	751	2	would	would	AUX
cblr-1707	751	3	it	it	PRON
cblr-1707	751	4	require	require	VERB
cblr-1707	751	5	portfolio	portfolio	NOUN
cblr-1707	751	6	liquidation	liquidation	NOUN
cblr-1707	751	7	.	.	PUNCT
cblr-1707	752	1	currently	currently	ADV
cblr-1707	752	2	,	,	PUNCT
cblr-1707	752	3	there	there	PRON
cblr-1707	752	4	are	be	VERB
cblr-1707	752	5	statutory	statutory	ADJ
cblr-1707	752	6	impediments	impediment	NOUN
cblr-1707	752	7	to	to	ADP
cblr-1707	752	8	ramping	ramp	VERB
cblr-1707	752	9	up	up	ADP
cblr-1707	752	10	reserve	reserve	NOUN
cblr-1707	752	11	requirements	requirement	NOUN
cblr-1707	752	12	high	high	ADJ
cblr-1707	752	13	enough	enough	ADV
cblr-1707	752	14	to	to	PART
cblr-1707	752	15	make	make	VERB
cblr-1707	752	16	reserves	reserve	NOUN
cblr-1707	752	17	scarce	scarce	ADJ
cblr-1707	752	18	again,125	again,125	PROPN
cblr-1707	753	1	but	but	CCONJ
cblr-1707	753	2	recall	recall	VERB
cblr-1707	753	3	that	that	SCONJ
cblr-1707	753	4	there	there	PRON
cblr-1707	753	5	were	be	VERB
cblr-1707	753	6	statutory	statutory	ADJ
cblr-1707	753	7	impediments	impediment	NOUN
cblr-1707	753	8	to	to	ADP
cblr-1707	753	9	implementing	implement	VERB
cblr-1707	753	10	administered	administer	VERB
cblr-1707	753	11	rates	rate	NOUN
cblr-1707	753	12	until	until	ADP
cblr-1707	753	13	late	late	ADJ
cblr-1707	753	14	2008	2008	NUM
cblr-1707	753	15	,	,	PUNCT
cblr-1707	753	16	when	when	SCONJ
cblr-1707	753	17	congress	congress	PROPN
cblr-1707	753	18	authorized	authorize	VERB
cblr-1707	753	19	ioer	ioer	NOUN
cblr-1707	753	20	.	.	PUNCT
cblr-1707	754	1	the	the	DET
cblr-1707	754	2	federal	federal	PROPN
cblr-1707	754	3	reserve	reserve	PROPN
cblr-1707	754	4	actively	actively	ADV
cblr-1707	754	5	sought	seek	VERB
cblr-1707	754	6	ioer	ioer	NOUN
cblr-1707	754	7	authority,126	authority,126	NOUN
cblr-1707	755	1	but	but	CCONJ
cblr-1707	755	2	it	it	PRON
cblr-1707	755	3	has	have	AUX
cblr-1707	755	4	not	not	PART
cblr-1707	755	5	yet	yet	ADV
cblr-1707	755	6	actively	actively	ADV
cblr-1707	755	7	sought	seek	VERB
cblr-1707	755	8	greater	great	ADJ
cblr-1707	755	9	legal	legal	ADJ
cblr-1707	755	10	flexibility	flexibility	NOUN
cblr-1707	755	11	to	to	PART
cblr-1707	755	12	raise	raise	VERB
cblr-1707	755	13	reserve	reserve	NOUN
cblr-1707	755	14	requirements	requirement	NOUN
cblr-1707	755	15	.	.	PUNCT
cblr-1707	756	1	the	the	DET
cblr-1707	756	2	reluctance	reluctance	NOUN
cblr-1707	756	3	to	to	PART
cblr-1707	756	4	raise	raise	VERB
cblr-1707	756	5	reserve	reserve	NOUN
cblr-1707	756	6	requirements	requirement	NOUN
cblr-1707	756	7	seems	seem	VERB
cblr-1707	756	8	to	to	PART
cblr-1707	756	9	arise	arise	VERB
cblr-1707	756	10	,	,	PUNCT
cblr-1707	756	11	then	then	ADV
cblr-1707	756	12	,	,	PUNCT
cblr-1707	756	13	not	not	PART
cblr-1707	756	14	from	from	ADP
cblr-1707	756	15	legal	legal	ADJ
cblr-1707	756	16	technicalities	technicality	NOUN
cblr-1707	756	17	but	but	CCONJ
cblr-1707	756	18	from	from	ADP
cblr-1707	756	19	another	another	DET
cblr-1707	756	20	source	source	NOUN
cblr-1707	756	21	:	:	PUNCT
cblr-1707	756	22	a	a	DET
cblr-1707	756	23	deeply	deeply	ADV
cblr-1707	756	24	ingrained	ingrain	VERB
cblr-1707	756	25	sense	sense	NOUN
cblr-1707	756	26	that	that	SCONJ
cblr-1707	756	27	reserve	reserve	NOUN
cblr-1707	756	28	requirements	requirement	NOUN
cblr-1707	756	29	“	"	PUNCT
cblr-1707	756	30	tax	tax	NOUN
cblr-1707	756	31	”	"	PUNCT
cblr-1707	756	32	banks	bank	NOUN
cblr-1707	756	33	or	or	CCONJ
cblr-1707	756	34	that	that	SCONJ
cblr-1707	756	35	they	they	PRON
cblr-1707	756	36	are	be	AUX
cblr-1707	756	37	somehow	somehow	ADV
cblr-1707	756	38	inefficient	inefficient	ADJ
cblr-1707	756	39	.	.	PUNCT
cblr-1707	757	1	as	as	SCONJ
cblr-1707	757	2	noted	note	VERB
cblr-1707	757	3	above	above	ADV
cblr-1707	757	4	,	,	PUNCT
cblr-1707	757	5	the	the	DET
cblr-1707	757	6	elimination	elimination	NOUN
cblr-1707	757	7	of	of	ADP
cblr-1707	757	8	this	this	DET
cblr-1707	757	9	purported	purport	VERB
cblr-1707	757	10	tax	tax	NOUN
cblr-1707	757	11	is	be	AUX
cblr-1707	757	12	the	the	DET
cblr-1707	757	13	stated	state	VERB
cblr-1707	757	14	reason	reason	NOUN
cblr-1707	757	15	for	for	ADP
cblr-1707	757	16	the	the	DET
cblr-1707	757	17	fed	fed	PROPN
cblr-1707	757	18	’s	’s	PART
cblr-1707	757	19	decision	decision	NOUN
cblr-1707	757	20	to	to	PART
cblr-1707	757	21	pay	pay	VERB
cblr-1707	757	22	interest	interest	NOUN
cblr-1707	757	23	on	on	ADP
cblr-1707	757	24	required	require	VERB
cblr-1707	757	25	reserves.127	reserves.127	NOUN
cblr-1707	757	26	this	this	DET
cblr-1707	757	27	“	"	PUNCT
cblr-1707	757	28	reserve	reserve	NOUN
cblr-1707	757	29	tax	tax	NOUN
cblr-1707	757	30	”	"	PUNCT
cblr-1707	757	31	merits	merit	VERB
cblr-1707	757	32	critical	critical	ADJ
cblr-1707	757	33	scrutiny	scrutiny	NOUN
cblr-1707	757	34	.	.	PUNCT
cblr-1707	758	1	in	in	ADP
cblr-1707	758	2	the	the	DET
cblr-1707	758	3	united	united	PROPN
cblr-1707	758	4	states	states	PROPN
cblr-1707	758	5	,	,	PUNCT
cblr-1707	758	6	banks	bank	NOUN
cblr-1707	758	7	have	have	VERB
cblr-1707	758	8	a	a	DET
cblr-1707	758	9	legal	legal	ADJ
cblr-1707	758	10	monopoly	monopoly	NOUN
cblr-1707	758	11	on	on	ADP
cblr-1707	758	12	deposit	deposit	NOUN
cblr-1707	758	13	creation	creation	NOUN
cblr-1707	758	14	.	.	PUNCT
cblr-1707	759	1	they	they	PRON
cblr-1707	759	2	occupy	occupy	VERB
cblr-1707	759	3	a	a	DET
cblr-1707	759	4	privileged	privileged	ADJ
cblr-1707	759	5	position	position	NOUN
cblr-1707	759	6	in	in	ADP
cblr-1707	759	7	our	our	PRON
cblr-1707	759	8	system	system	NOUN
cblr-1707	759	9	of	of	ADP
cblr-1707	759	10	money	money	NOUN
cblr-1707	759	11	and	and	CCONJ
cblr-1707	759	12	124	124	NUM
cblr-1707	759	13	see	see	VERB
cblr-1707	759	14	i	i	PRON
cblr-1707	759	15	d.	d.	PROPN
cblr-1707	759	16	125	125	NUM
cblr-1707	759	17	see	see	VERB
cblr-1707	759	18	12	12	NUM
cblr-1707	759	19	u.s.c	u.s.c	ADJ
cblr-1707	759	20	.	.	PUNCT
cblr-1707	760	1	§	§	PROPN
cblr-1707	760	2	461(b)(2)(a)(ii	461(b)(2)(a)(ii	PROPN
cblr-1707	760	3	)	)	PUNCT
cblr-1707	760	4	(	(	PUNCT
cblr-1707	760	5	2012	2012	NUM
cblr-1707	760	6	)	)	PUNCT
cblr-1707	760	7	(	(	PUNCT
cblr-1707	760	8	limiting	limit	VERB
cblr-1707	760	9	reserve	reserve	NOUN
cblr-1707	760	10	requirements	requirement	NOUN
cblr-1707	760	11	to	to	ADP
cblr-1707	760	12	fourteen	fourteen	NUM
cblr-1707	760	13	percent	percent	NOUN
cblr-1707	760	14	)	)	PUNCT
cblr-1707	760	15	.	.	PUNCT
cblr-1707	761	1	but	but	CCONJ
cblr-1707	761	2	see	see	VERB
cblr-1707	761	3	12	12	NUM
cblr-1707	761	4	u.s.c	u.s.c	ADJ
cblr-1707	761	5	.	.	PUNCT
cblr-1707	762	1	§	§	PROPN
cblr-1707	762	2	461(b)(3	461(b)(3	NUM
cblr-1707	762	3	)	)	PUNCT
cblr-1707	762	4	(	(	PUNCT
cblr-1707	762	5	2012	2012	NUM
cblr-1707	762	6	)	)	PUNCT
cblr-1707	762	7	(	(	PUNCT
cblr-1707	762	8	permitting	permit	VERB
cblr-1707	762	9	reserve	reserve	NOUN
cblr-1707	762	10	requirements	requirement	NOUN
cblr-1707	762	11	above	above	ADP
cblr-1707	762	12	this	this	DET
cblr-1707	762	13	amount	amount	NOUN
cblr-1707	762	14	“	"	PUNCT
cblr-1707	762	15	[	[	X
cblr-1707	762	16	u]pon	u]pon	ADP
cblr-1707	762	17	a	a	DET
cblr-1707	762	18	finding	finding	NOUN
cblr-1707	762	19	by	by	ADP
cblr-1707	762	20	at	at	ADV
cblr-1707	762	21	least	least	ADV
cblr-1707	762	22	5	5	NUM
cblr-1707	762	23	members	member	NOUN
cblr-1707	762	24	of	of	ADP
cblr-1707	762	25	the	the	DET
cblr-1707	762	26	[	[	X
cblr-1707	762	27	federal	federal	ADJ
cblr-1707	762	28	reserve	reserve	PROPN
cblr-1707	762	29	]	]	PUNCT
cblr-1707	762	30	board	board	NOUN
cblr-1707	762	31	that	that	PRON
cblr-1707	762	32	extraordinary	extraordinary	ADJ
cblr-1707	762	33	circumstances	circumstance	NOUN
cblr-1707	762	34	require	require	VERB
cblr-1707	762	35	such	such	ADJ
cblr-1707	762	36	action	action	NOUN
cblr-1707	762	37	.	.	PUNCT
cblr-1707	762	38	”	"	PUNCT
cblr-1707	762	39	)	)	PUNCT
cblr-1707	762	40	.	.	PUNCT
cblr-1707	763	1	126	126	NUM
cblr-1707	763	2	see	see	VERB
cblr-1707	763	3	bd	bd	PROPN
cblr-1707	763	4	.	.	PROPN
cblr-1707	763	5	of	of	ADP
cblr-1707	763	6	governors	governor	NOUN
cblr-1707	763	7	of	of	ADP
cblr-1707	763	8	the	the	DET
cblr-1707	763	9	fed	fed	PROPN
cblr-1707	763	10	.	.	PUNCT
cblr-1707	764	1	reserve	reserve	PROPN
cblr-1707	764	2	sys	sys	PROPN
cblr-1707	764	3	.	.	PROPN
cblr-1707	764	4	,	,	PUNCT
cblr-1707	764	5	93rd	93rd	ADJ
cblr-1707	764	6	annual	annual	ADJ
cblr-1707	764	7	report	report	NOUN
cblr-1707	764	8	2006	2006	NUM
cblr-1707	764	9	,	,	PUNCT
cblr-1707	764	10	139–40	139–40	NUM
cblr-1707	764	11	(	(	PUNCT
cblr-1707	764	12	2006	2006	NUM
cblr-1707	764	13	)	)	PUNCT
cblr-1707	764	14	(	(	PUNCT
cblr-1707	764	15	explaining	explain	VERB
cblr-1707	764	16	the	the	DET
cblr-1707	764	17	benefits	benefit	NOUN
cblr-1707	764	18	of	of	ADP
cblr-1707	764	19	the	the	DET
cblr-1707	764	20	regulatory	regulatory	ADJ
cblr-1707	764	21	relief	relief	NOUN
cblr-1707	764	22	act	act	NOUN
cblr-1707	764	23	granting	grant	VERB
cblr-1707	764	24	the	the	DET
cblr-1707	764	25	federal	federal	PROPN
cblr-1707	764	26	reserve	reserve	PROPN
cblr-1707	764	27	board	board	PROPN
cblr-1707	764	28	more	more	ADJ
cblr-1707	764	29	authority	authority	NOUN
cblr-1707	764	30	to	to	PART
cblr-1707	764	31	pay	pay	VERB
cblr-1707	764	32	interest	interest	NOUN
cblr-1707	764	33	and	and	CCONJ
cblr-1707	764	34	more	more	ADJ
cblr-1707	764	35	flexibility	flexibility	NOUN
cblr-1707	764	36	to	to	PART
cblr-1707	764	37	set	set	VERB
cblr-1707	764	38	reserve	reserve	NOUN
cblr-1707	764	39	requirements	requirement	NOUN
cblr-1707	764	40	)	)	PUNCT
cblr-1707	764	41	.	.	PUNCT
cblr-1707	765	1	127	127	NUM
cblr-1707	765	2	recall	recall	NOUN
cblr-1707	765	3	that	that	PRON
cblr-1707	765	4	ioer	ioer	PROPN
cblr-1707	765	5	and	and	CCONJ
cblr-1707	765	6	iorr	iorr	PROPN
cblr-1707	765	7	supposedly	supposedly	ADV
cblr-1707	765	8	serve	serve	VERB
cblr-1707	765	9	entirely	entirely	ADV
cblr-1707	765	10	different	different	ADJ
cblr-1707	765	11	purposes	purpose	NOUN
cblr-1707	765	12	:	:	PUNCT
cblr-1707	765	13	the	the	DET
cblr-1707	765	14	former	former	ADJ
cblr-1707	765	15	is	be	AUX
cblr-1707	765	16	a	a	DET
cblr-1707	765	17	monetary	monetary	ADJ
cblr-1707	765	18	policy	policy	NOUN
cblr-1707	765	19	tool	tool	NOUN
cblr-1707	765	20	,	,	PUNCT
cblr-1707	765	21	while	while	SCONJ
cblr-1707	765	22	the	the	DET
cblr-1707	765	23	latter	latter	ADJ
cblr-1707	765	24	eliminates	eliminate	VERB
cblr-1707	765	25	a	a	DET
cblr-1707	765	26	tax	tax	NOUN
cblr-1707	765	27	.	.	PUNCT
cblr-1707	766	1	it	it	PRON
cblr-1707	766	2	seems	seem	VERB
cblr-1707	766	3	strange	strange	ADJ
cblr-1707	766	4	,	,	PUNCT
cblr-1707	766	5	then	then	ADV
cblr-1707	766	6	,	,	PUNCT
cblr-1707	766	7	that	that	SCONJ
cblr-1707	766	8	the	the	DET
cblr-1707	766	9	two	two	NUM
cblr-1707	766	10	rates	rate	NOUN
cblr-1707	766	11	are	be	AUX
cblr-1707	766	12	always	always	ADV
cblr-1707	766	13	set	set	VERB
cblr-1707	766	14	at	at	ADP
cblr-1707	766	15	exactly	exactly	ADV
cblr-1707	766	16	the	the	DET
cblr-1707	766	17	same	same	ADJ
cblr-1707	766	18	level	level	NOUN
cblr-1707	766	19	.	.	PUNCT
cblr-1707	767	1	the	the	DET
cblr-1707	767	2	(	(	PUNCT
cblr-1707	767	3	circular	circular	ADJ
cblr-1707	767	4	)	)	PUNCT
cblr-1707	767	5	reasoning	reasoning	NOUN
cblr-1707	767	6	seems	seem	VERB
cblr-1707	767	7	to	to	PART
cblr-1707	767	8	be	be	AUX
cblr-1707	767	9	that	that	SCONJ
cblr-1707	767	10	the	the	DET
cblr-1707	767	11	supposed	suppose	VERB
cblr-1707	767	12	tax	tax	NOUN
cblr-1707	767	13	consists	consist	VERB
cblr-1707	767	14	of	of	ADP
cblr-1707	767	15	the	the	DET
cblr-1707	767	16	opportunity	opportunity	NOUN
cblr-1707	767	17	cost	cost	NOUN
cblr-1707	767	18	of	of	ADP
cblr-1707	767	19	holding	hold	VERB
cblr-1707	767	20	required	required	ADJ
cblr-1707	767	21	reserves	reserve	NOUN
cblr-1707	767	22	—	—	PUNCT
cblr-1707	767	23	and	and	CCONJ
cblr-1707	767	24	if	if	SCONJ
cblr-1707	767	25	there	there	PRON
cblr-1707	767	26	were	be	VERB
cblr-1707	767	27	no	no	DET
cblr-1707	767	28	reserve	reserve	NOUN
cblr-1707	767	29	requirements	requirement	NOUN
cblr-1707	767	30	,	,	PUNCT
cblr-1707	767	31	all	all	DET
cblr-1707	767	32	reserves	reserve	NOUN
cblr-1707	767	33	would	would	AUX
cblr-1707	767	34	receive	receive	VERB
cblr-1707	767	35	the	the	DET
cblr-1707	767	36	ioer	ioer	NOUN
cblr-1707	767	37	rate	rate	NOUN
cblr-1707	767	38	!	!	PUNCT
cblr-1707	768	1	but	but	CCONJ
cblr-1707	768	2	this	this	PRON
cblr-1707	768	3	is	be	AUX
cblr-1707	768	4	a	a	DET
cblr-1707	768	5	tautology	tautology	NOUN
cblr-1707	768	6	,	,	PUNCT
cblr-1707	768	7	not	not	PART
cblr-1707	768	8	an	an	DET
cblr-1707	768	9	economic	economic	ADJ
cblr-1707	768	10	or	or	CCONJ
cblr-1707	768	11	policy	policy	NOUN
cblr-1707	768	12	argument	argument	NOUN
cblr-1707	768	13	.	.	PUNCT
cblr-1707	769	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	769	2	no	no	NOUN
cblr-1707	769	3	.	.	PUNCT
cblr-1707	770	1	3:757	3:757	NUM
cblr-1707	770	2	]	]	X
cblr-1707	770	3	money	money	NOUN
cblr-1707	770	4	as	as	ADP
cblr-1707	770	5	infrastructure	infrastructure	NOUN
cblr-1707	770	6	801	801	NUM
cblr-1707	770	7	payments	payment	NOUN
cblr-1707	770	8	,	,	PUNCT
cblr-1707	770	9	one	one	NUM
cblr-1707	770	10	that	that	PRON
cblr-1707	770	11	is	be	AUX
cblr-1707	770	12	a	a	DET
cblr-1707	770	13	source	source	NOUN
cblr-1707	770	14	of	of	ADP
cblr-1707	770	15	significant	significant	ADJ
cblr-1707	770	16	profits.128	profits.128	NOUN
cblr-1707	770	17	this	this	DET
cblr-1707	770	18	privilege	privilege	NOUN
cblr-1707	770	19	comes	come	VERB
cblr-1707	770	20	with	with	ADP
cblr-1707	770	21	certain	certain	ADJ
cblr-1707	770	22	obligations	obligation	NOUN
cblr-1707	770	23	,	,	PUNCT
cblr-1707	770	24	one	one	NUM
cblr-1707	770	25	of	of	ADP
cblr-1707	770	26	which	which	PRON
cblr-1707	770	27	is	be	AUX
cblr-1707	770	28	reserve	reserve	NOUN
cblr-1707	770	29	requirements	requirement	NOUN
cblr-1707	770	30	.	.	PUNCT
cblr-1707	771	1	rather	rather	ADV
cblr-1707	771	2	than	than	ADP
cblr-1707	771	3	singling	single	VERB
cblr-1707	771	4	out	out	ADP
cblr-1707	771	5	any	any	DET
cblr-1707	771	6	one	one	NUM
cblr-1707	771	7	of	of	ADP
cblr-1707	771	8	these	these	DET
cblr-1707	771	9	requirements	requirement	NOUN
cblr-1707	771	10	as	as	ADP
cblr-1707	771	11	a	a	DET
cblr-1707	771	12	“	"	PUNCT
cblr-1707	771	13	tax	tax	NOUN
cblr-1707	771	14	,	,	PUNCT
cblr-1707	771	15	”	"	PUNCT
cblr-1707	771	16	it	it	PRON
cblr-1707	771	17	seems	seem	VERB
cblr-1707	771	18	more	more	ADV
cblr-1707	771	19	sensible	sensible	ADJ
cblr-1707	771	20	to	to	PART
cblr-1707	771	21	see	see	VERB
cblr-1707	771	22	these	these	DET
cblr-1707	771	23	various	various	ADJ
cblr-1707	771	24	privileges	privilege	NOUN
cblr-1707	771	25	and	and	CCONJ
cblr-1707	771	26	requirements	requirement	NOUN
cblr-1707	771	27	as	as	ADP
cblr-1707	771	28	components	component	NOUN
cblr-1707	771	29	of	of	ADP
cblr-1707	771	30	a	a	DET
cblr-1707	771	31	package	package	NOUN
cblr-1707	771	32	deal	deal	NOUN
cblr-1707	771	33	.	.	PUNCT
cblr-1707	772	1	the	the	DET
cblr-1707	772	2	next	next	ADJ
cblr-1707	772	3	section	section	NOUN
cblr-1707	772	4	takes	take	VERB
cblr-1707	772	5	this	this	DET
cblr-1707	772	6	package	package	NOUN
cblr-1707	772	7	-	-	PUNCT
cblr-1707	772	8	deal	deal	NOUN
cblr-1707	772	9	conception	conception	NOUN
cblr-1707	772	10	seriously	seriously	ADV
cblr-1707	772	11	and	and	CCONJ
cblr-1707	772	12	shows	show	VERB
cblr-1707	772	13	that	that	SCONJ
cblr-1707	772	14	it	it	PRON
cblr-1707	772	15	opens	open	VERB
cblr-1707	772	16	up	up	ADP
cblr-1707	772	17	a	a	DET
cblr-1707	772	18	new	new	ADJ
cblr-1707	772	19	perspective	perspective	NOUN
cblr-1707	772	20	on	on	ADP
cblr-1707	772	21	monetary	monetary	ADJ
cblr-1707	772	22	policy	policy	NOUN
cblr-1707	772	23	implementation	implementation	NOUN
cblr-1707	772	24	.	.	PUNCT
cblr-1707	773	1	d.	d.	PROPN
cblr-1707	773	2	an	an	DET
cblr-1707	773	3	infrastructure	infrastructure	NOUN
cblr-1707	773	4	perspective	perspective	NOUN
cblr-1707	773	5	as	as	SCONJ
cblr-1707	773	6	discussed	discuss	VERB
cblr-1707	773	7	in	in	ADP
cblr-1707	773	8	supra	supra	PROPN
cblr-1707	773	9	part	part	PROPN
cblr-1707	774	1	i	i	PROPN
cblr-1707	774	2	,	,	PUNCT
cblr-1707	774	3	the	the	DET
cblr-1707	774	4	institutional	institutional	ADJ
cblr-1707	774	5	baseline	baseline	NOUN
cblr-1707	774	6	in	in	ADP
cblr-1707	774	7	the	the	DET
cblr-1707	774	8	money	money	NOUN
cblr-1707	774	9	paradigm	paradigm	NOUN
cblr-1707	774	10	is	be	AUX
cblr-1707	774	11	direct	direct	ADJ
cblr-1707	774	12	government	government	NOUN
cblr-1707	774	13	provisioning	provisioning	NOUN
cblr-1707	774	14	of	of	ADP
cblr-1707	774	15	“	"	PUNCT
cblr-1707	774	16	account	account	NOUN
cblr-1707	774	17	money	money	NOUN
cblr-1707	774	18	,	,	PUNCT
cblr-1707	774	19	”	"	PUNCT
cblr-1707	774	20	just	just	ADV
cblr-1707	774	21	as	as	SCONJ
cblr-1707	774	22	the	the	DET
cblr-1707	774	23	u.s	u.s	PROPN
cblr-1707	774	24	.	.	PROPN
cblr-1707	774	25	government	government	NOUN
cblr-1707	774	26	currently	currently	ADV
cblr-1707	774	27	supplies	supply	VERB
cblr-1707	774	28	paper	paper	NOUN
cblr-1707	774	29	money	money	NOUN
cblr-1707	774	30	as	as	ADP
cblr-1707	774	31	a	a	DET
cblr-1707	774	32	monopolist	monopolist	NOUN
cblr-1707	774	33	.	.	PUNCT
cblr-1707	775	1	commercial	commercial	ADJ
cblr-1707	775	2	banks	bank	NOUN
cblr-1707	775	3	’	'	PUNCT
cblr-1707	775	4	monetary	monetary	ADJ
cblr-1707	775	5	function	function	NOUN
cblr-1707	775	6	is	be	AUX
cblr-1707	775	7	then	then	ADV
cblr-1707	775	8	understood	understand	VERB
cblr-1707	775	9	as	as	ADP
cblr-1707	775	10	an	an	DET
cblr-1707	775	11	outsourcing	outsourcing	NOUN
cblr-1707	775	12	or	or	CCONJ
cblr-1707	775	13	franchise	franchise	NOUN
cblr-1707	775	14	arrangement	arrangement	NOUN
cblr-1707	775	15	.	.	PUNCT
cblr-1707	776	1	to	to	PART
cblr-1707	776	2	trace	trace	VERB
cblr-1707	776	3	the	the	DET
cblr-1707	776	4	implications	implication	NOUN
cblr-1707	776	5	of	of	ADP
cblr-1707	776	6	this	this	DET
cblr-1707	776	7	framework	framework	NOUN
cblr-1707	776	8	,	,	PUNCT
cblr-1707	776	9	it	it	PRON
cblr-1707	776	10	is	be	AUX
cblr-1707	776	11	useful	useful	ADJ
cblr-1707	776	12	to	to	PART
cblr-1707	776	13	first	first	ADV
cblr-1707	776	14	envision	envision	VERB
cblr-1707	776	15	an	an	DET
cblr-1707	776	16	institutional	institutional	ADJ
cblr-1707	776	17	setup	setup	NOUN
cblr-1707	776	18	in	in	ADP
cblr-1707	776	19	which	which	PRON
cblr-1707	776	20	everyone	everyone	PRON
cblr-1707	776	21	holds	hold	VERB
cblr-1707	776	22	his	his	PRON
cblr-1707	776	23	or	or	CCONJ
cblr-1707	776	24	her	her	PRON
cblr-1707	776	25	transaction	transaction	NOUN
cblr-1707	776	26	account	account	VERB
cblr-1707	776	27	directly	directly	ADV
cblr-1707	776	28	with	with	ADP
cblr-1707	776	29	the	the	DET
cblr-1707	776	30	central	central	ADJ
cblr-1707	776	31	bank	bank	NOUN
cblr-1707	776	32	,	,	PUNCT
cblr-1707	776	33	and	and	CCONJ
cblr-1707	776	34	no	no	DET
cblr-1707	776	35	private	private	ADJ
cblr-1707	776	36	firms	firm	NOUN
cblr-1707	776	37	offer	offer	VERB
cblr-1707	776	38	(	(	PUNCT
cblr-1707	776	39	dollar	dollar	NOUN
cblr-1707	776	40	-	-	PUNCT
cblr-1707	776	41	denominated	denominate	VERB
cblr-1707	776	42	)	)	PUNCT
cblr-1707	776	43	account	account	NOUN
cblr-1707	776	44	money	money	NOUN
cblr-1707	776	45	or	or	CCONJ
cblr-1707	776	46	close	close	ADJ
cblr-1707	776	47	substitutes	substitute	NOUN
cblr-1707	776	48	therefor	therefor	ADV
cblr-1707	776	49	.	.	PUNCT
cblr-1707	777	1	in	in	ADP
cblr-1707	777	2	this	this	DET
cblr-1707	777	3	insourced	insourced	ADJ
cblr-1707	777	4	setting	setting	NOUN
cblr-1707	777	5	,	,	PUNCT
cblr-1707	777	6	the	the	DET
cblr-1707	777	7	administered	administer	VERB
cblr-1707	777	8	rate	rate	NOUN
cblr-1707	777	9	—	—	PUNCT
cblr-1707	777	10	the	the	DET
cblr-1707	777	11	rate	rate	NOUN
cblr-1707	777	12	the	the	DET
cblr-1707	777	13	central	central	ADJ
cblr-1707	777	14	bank	bank	NOUN
cblr-1707	777	15	pays	pay	VERB
cblr-1707	777	16	on	on	ADP
cblr-1707	777	17	its	its	PRON
cblr-1707	777	18	liabilities	liability	NOUN
cblr-1707	777	19	—	—	PUNCT
cblr-1707	777	20	accrues	accrue	VERB
cblr-1707	777	21	to	to	ADP
cblr-1707	777	22	every	every	DET
cblr-1707	777	23	holder	holder	NOUN
cblr-1707	777	24	of	of	ADP
cblr-1707	777	25	account	account	NOUN
cblr-1707	777	26	money	money	NOUN
cblr-1707	777	27	.	.	PUNCT
cblr-1707	778	1	there	there	PRON
cblr-1707	778	2	is	be	VERB
cblr-1707	778	3	no	no	DET
cblr-1707	778	4	question	question	NOUN
cblr-1707	778	5	of	of	ADP
cblr-1707	778	6	passthrough	passthrough	NOUN
cblr-1707	778	7	here	here	ADV
cblr-1707	778	8	because	because	SCONJ
cblr-1707	778	9	there	there	PRON
cblr-1707	778	10	is	be	VERB
cblr-1707	778	11	no	no	DET
cblr-1707	778	12	commercial	commercial	ADJ
cblr-1707	778	13	banking	banking	NOUN
cblr-1707	778	14	system	system	NOUN
cblr-1707	778	15	through	through	ADP
cblr-1707	778	16	which	which	PRON
cblr-1707	778	17	the	the	DET
cblr-1707	778	18	central	central	ADJ
cblr-1707	778	19	bank	bank	NOUN
cblr-1707	778	20	seeks	seek	VERB
cblr-1707	778	21	to	to	PART
cblr-1707	778	22	pass	pass	VERB
cblr-1707	778	23	interest.129	interest.129	PROPN
cblr-1707	778	24	128	128	NUM
cblr-1707	778	25	this	this	DET
cblr-1707	778	26	point	point	NOUN
cblr-1707	778	27	is	be	AUX
cblr-1707	778	28	sometimes	sometimes	ADV
cblr-1707	778	29	expressed	express	VERB
cblr-1707	778	30	by	by	ADP
cblr-1707	778	31	noting	note	VERB
cblr-1707	778	32	that	that	SCONJ
cblr-1707	778	33	banks	bank	NOUN
cblr-1707	778	34	earn	earn	VERB
cblr-1707	778	35	what	what	PRON
cblr-1707	778	36	amounts	amount	VERB
cblr-1707	778	37	to	to	ADP
cblr-1707	778	38	seigniorage	seigniorage	NOUN
cblr-1707	778	39	.	.	PUNCT
cblr-1707	779	1	see	see	VERB
cblr-1707	779	2	,	,	PUNCT
cblr-1707	779	3	e.g.	e.g.	ADV
cblr-1707	779	4	,	,	PUNCT
cblr-1707	779	5	christine	christine	PROPN
cblr-1707	779	6	desan	desan	PROPN
cblr-1707	779	7	,	,	PUNCT
cblr-1707	779	8	making	make	VERB
cblr-1707	779	9	money	money	NOUN
cblr-1707	779	10	:	:	PUNCT
cblr-1707	779	11	coin	coin	NOUN
cblr-1707	779	12	,	,	PUNCT
cblr-1707	779	13	currency	currency	NOUN
cblr-1707	779	14	,	,	PUNCT
cblr-1707	779	15	and	and	CCONJ
cblr-1707	779	16	the	the	DET
cblr-1707	779	17	coming	coming	NOUN
cblr-1707	779	18	of	of	ADP
cblr-1707	779	19	capitalism	capitalism	NOUN
cblr-1707	779	20	414–21	414–21	NUM
cblr-1707	779	21	(	(	PUNCT
cblr-1707	779	22	2014	2014	NUM
cblr-1707	779	23	)	)	PUNCT
cblr-1707	779	24	(	(	PUNCT
cblr-1707	779	25	discussing	discuss	VERB
cblr-1707	779	26	private	private	ADJ
cblr-1707	779	27	“	"	PUNCT
cblr-1707	779	28	seigniorage	seigniorage	NOUN
cblr-1707	779	29	”	"	PUNCT
cblr-1707	779	30	)	)	PUNCT
cblr-1707	779	31	;	;	PUNCT
cblr-1707	779	32	bindseil	bindseil	X
cblr-1707	779	33	,	,	PUNCT
cblr-1707	779	34	supra	supra	PROPN
cblr-1707	779	35	note	note	NOUN
cblr-1707	779	36	58	58	NUM
cblr-1707	779	37	,	,	PUNCT
cblr-1707	779	38	at	at	ADP
cblr-1707	779	39	190	190	NUM
cblr-1707	779	40	(	(	PUNCT
cblr-1707	779	41	referring	refer	VERB
cblr-1707	779	42	to	to	ADP
cblr-1707	779	43	“	"	PUNCT
cblr-1707	779	44	‘	'	PUNCT
cblr-1707	779	45	seigniorage	seigniorage	NOUN
cblr-1707	779	46	’	'	PUNCT
cblr-1707	779	47	income	income	NOUN
cblr-1707	779	48	of	of	ADP
cblr-1707	779	49	banks	bank	NOUN
cblr-1707	779	50	”	"	PUNCT
cblr-1707	779	51	)	)	PUNCT
cblr-1707	779	52	;	;	PUNCT
cblr-1707	779	53	frank	frank	PROPN
cblr-1707	779	54	d.	d.	PROPN
cblr-1707	779	55	graham	graham	PROPN
cblr-1707	779	56	,	,	PUNCT
cblr-1707	779	57	partial	partial	ADJ
cblr-1707	779	58	reserve	reserve	NOUN
cblr-1707	779	59	money	money	NOUN
cblr-1707	779	60	and	and	CCONJ
cblr-1707	779	61	the	the	DET
cblr-1707	779	62	100	100	NUM
cblr-1707	779	63	per	per	ADP
cblr-1707	779	64	cent	cent	NOUN
cblr-1707	779	65	proposal	proposal	NOUN
cblr-1707	779	66	,	,	PUNCT
cblr-1707	779	67	26	26	NUM
cblr-1707	779	68	am	am	NOUN
cblr-1707	779	69	.	.	PUNCT
cblr-1707	780	1	econ	econ	PROPN
cblr-1707	780	2	.	.	PUNCT
cblr-1707	781	1	rev	rev	PROPN
cblr-1707	781	2	.	.	PROPN
cblr-1707	782	1	428	428	NUM
cblr-1707	782	2	,	,	PUNCT
cblr-1707	782	3	430	430	NUM
cblr-1707	782	4	(	(	PUNCT
cblr-1707	782	5	1936	1936	NUM
cblr-1707	782	6	)	)	PUNCT
cblr-1707	782	7	(	(	PUNCT
cblr-1707	782	8	noting	note	VERB
cblr-1707	782	9	that	that	SCONJ
cblr-1707	782	10	banks	bank	NOUN
cblr-1707	782	11	earn	earn	VERB
cblr-1707	782	12	“	"	PUNCT
cblr-1707	782	13	seigniorage	seigniorage	NOUN
cblr-1707	782	14	profits	profit	NOUN
cblr-1707	782	15	”	"	PUNCT
cblr-1707	782	16	)	)	PUNCT
cblr-1707	782	17	;	;	PUNCT
cblr-1707	782	18	robin	robin	PROPN
cblr-1707	782	19	greenwood	greenwood	PROPN
cblr-1707	782	20	,	,	PUNCT
cblr-1707	782	21	samuel	samuel	PROPN
cblr-1707	782	22	g.	g.	PROPN
cblr-1707	782	23	hanson	hanson	PROPN
cblr-1707	782	24	&	&	CCONJ
cblr-1707	782	25	jeremy	jeremy	PROPN
cblr-1707	782	26	c.	c.	PROPN
cblr-1707	782	27	stein	stein	PROPN
cblr-1707	782	28	,	,	PUNCT
cblr-1707	782	29	a	a	DET
cblr-1707	782	30	comparative	comparative	ADJ
cblr-1707	782	31	-	-	PUNCT
cblr-1707	782	32	advantage	advantage	NOUN
cblr-1707	782	33	approach	approach	NOUN
cblr-1707	782	34	to	to	ADP
cblr-1707	782	35	government	government	NOUN
cblr-1707	782	36	debt	debt	NOUN
cblr-1707	782	37	maturity	maturity	NOUN
cblr-1707	782	38	,	,	PUNCT
cblr-1707	782	39	70	70	NUM
cblr-1707	782	40	j.	j.	PROPN
cblr-1707	782	41	fin	fin	PROPN
cblr-1707	782	42	.	.	PUNCT
cblr-1707	782	43	1683	1683	NUM
cblr-1707	782	44	,	,	PUNCT
cblr-1707	782	45	1705	1705	NUM
cblr-1707	782	46	(	(	PUNCT
cblr-1707	782	47	2015	2015	NUM
cblr-1707	782	48	)	)	PUNCT
cblr-1707	782	49	(	(	PUNCT
cblr-1707	782	50	referring	refer	VERB
cblr-1707	782	51	to	to	ADP
cblr-1707	782	52	the	the	DET
cblr-1707	782	53	value	value	NOUN
cblr-1707	782	54	derived	derive	VERB
cblr-1707	782	55	from	from	ADP
cblr-1707	782	56	issuing	issue	VERB
cblr-1707	782	57	money	money	NOUN
cblr-1707	782	58	-	-	PUNCT
cblr-1707	782	59	like	like	ADJ
cblr-1707	782	60	instruments	instrument	NOUN
cblr-1707	782	61	as	as	ADP
cblr-1707	782	62	“	"	PUNCT
cblr-1707	782	63	seigniorage	seigniorage	NOUN
cblr-1707	782	64	”	"	PUNCT
cblr-1707	782	65	)	)	PUNCT
cblr-1707	782	66	.	.	PUNCT
cblr-1707	783	1	129	129	NUM
cblr-1707	784	1	the	the	DET
cblr-1707	784	2	administered	administer	VERB
cblr-1707	784	3	rate	rate	NOUN
cblr-1707	784	4	serves	serve	VERB
cblr-1707	784	5	as	as	ADP
cblr-1707	784	6	an	an	DET
cblr-1707	784	7	absolute	absolute	ADJ
cblr-1707	784	8	floor	floor	NOUN
cblr-1707	784	9	on	on	ADP
cblr-1707	784	10	short	short	ADJ
cblr-1707	784	11	-	-	PUNCT
cblr-1707	784	12	term	term	NOUN
cblr-1707	784	13	market	market	NOUN
cblr-1707	784	14	interest	interest	NOUN
cblr-1707	784	15	rates	rate	NOUN
cblr-1707	784	16	.	.	PUNCT
cblr-1707	785	1	everyone	everyone	PRON
cblr-1707	785	2	’s	’s	PART
cblr-1707	785	3	transaction	transaction	NOUN
cblr-1707	785	4	account	account	NOUN
cblr-1707	785	5	is	be	AUX
cblr-1707	785	6	nondefaultable	nondefaultable	ADJ
cblr-1707	785	7	in	in	ADP
cblr-1707	785	8	the	the	DET
cblr-1707	785	9	same	same	ADJ
cblr-1707	785	10	sense	sense	NOUN
cblr-1707	785	11	that	that	SCONJ
cblr-1707	785	12	paper	paper	NOUN
cblr-1707	785	13	money	money	NOUN
cblr-1707	785	14	is	be	AUX
cblr-1707	785	15	nondefaultable	nondefaultable	ADJ
cblr-1707	785	16	.	.	PUNCT
cblr-1707	786	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	786	2	802	802	NUM
cblr-1707	786	3	columbia	columbia	PROPN
cblr-1707	786	4	business	business	NOUN
cblr-1707	786	5	law	law	PROPN
cblr-1707	786	6	review	review	NOUN
cblr-1707	786	7	[	[	X
cblr-1707	786	8	vol	vol	NOUN
cblr-1707	786	9	.	.	NOUN
cblr-1707	787	1	2018	2018	NUM
cblr-1707	787	2	two	two	NUM
cblr-1707	787	3	things	thing	NOUN
cblr-1707	787	4	about	about	ADP
cblr-1707	787	5	this	this	DET
cblr-1707	787	6	insourced	insourced	ADJ
cblr-1707	787	7	system	system	NOUN
cblr-1707	787	8	are	be	AUX
cblr-1707	787	9	salient	salient	ADJ
cblr-1707	787	10	for	for	ADP
cblr-1707	787	11	this	this	DET
cblr-1707	787	12	discussion	discussion	NOUN
cblr-1707	787	13	.	.	PUNCT
cblr-1707	788	1	first	first	ADV
cblr-1707	788	2	,	,	PUNCT
cblr-1707	788	3	all	all	DET
cblr-1707	788	4	profit	profit	NOUN
cblr-1707	788	5	from	from	ADP
cblr-1707	788	6	money	money	NOUN
cblr-1707	788	7	creation	creation	NOUN
cblr-1707	788	8	—	—	PUNCT
cblr-1707	788	9	the	the	DET
cblr-1707	788	10	difference	difference	NOUN
cblr-1707	788	11	between	between	ADP
cblr-1707	788	12	the	the	DET
cblr-1707	788	13	central	central	PROPN
cblr-1707	788	14	bank	bank	PROPN
cblr-1707	788	15	’s	’s	PART
cblr-1707	788	16	portfolio	portfolio	NOUN
cblr-1707	788	17	earnings	earning	NOUN
cblr-1707	788	18	and	and	CCONJ
cblr-1707	788	19	its	its	PRON
cblr-1707	788	20	expenses	expense	NOUN
cblr-1707	788	21	(	(	PUNCT
cblr-1707	788	22	assumed	assume	VERB
cblr-1707	788	23	to	to	PART
cblr-1707	788	24	consist	consist	VERB
cblr-1707	788	25	mostly	mostly	ADV
cblr-1707	788	26	of	of	ADP
cblr-1707	788	27	interest	interest	NOUN
cblr-1707	788	28	paid	pay	VERB
cblr-1707	788	29	on	on	ADP
cblr-1707	788	30	accounts)—accrues	accounts)—accrue	NOUN
cblr-1707	788	31	to	to	ADP
cblr-1707	788	32	the	the	DET
cblr-1707	788	33	government	government	NOUN
cblr-1707	788	34	as	as	ADP
cblr-1707	788	35	seigniorage	seigniorage	NOUN
cblr-1707	788	36	.	.	PUNCT
cblr-1707	789	1	this	this	PRON
cblr-1707	789	2	might	might	AUX
cblr-1707	789	3	very	very	ADV
cblr-1707	789	4	well	well	ADV
cblr-1707	789	5	be	be	AUX
cblr-1707	789	6	a	a	DET
cblr-1707	789	7	substantial	substantial	ADJ
cblr-1707	789	8	source	source	NOUN
cblr-1707	789	9	of	of	ADP
cblr-1707	789	10	government	government	NOUN
cblr-1707	789	11	revenue	revenue	NOUN
cblr-1707	789	12	.	.	PUNCT
cblr-1707	790	1	second	second	ADJ
cblr-1707	790	2	,	,	PUNCT
cblr-1707	790	3	changes	change	NOUN
cblr-1707	790	4	in	in	ADP
cblr-1707	790	5	the	the	DET
cblr-1707	790	6	administered	administer	VERB
cblr-1707	790	7	rate	rate	NOUN
cblr-1707	790	8	affect	affect	VERB
cblr-1707	790	9	this	this	DET
cblr-1707	790	10	revenue	revenue	NOUN
cblr-1707	790	11	stream	stream	NOUN
cblr-1707	790	12	,	,	PUNCT
cblr-1707	790	13	just	just	ADV
cblr-1707	790	14	as	as	SCONJ
cblr-1707	790	15	they	they	PRON
cblr-1707	790	16	affect	affect	VERB
cblr-1707	790	17	seigniorage	seigniorage	NOUN
cblr-1707	790	18	revenue	revenue	NOUN
cblr-1707	790	19	today	today	NOUN
cblr-1707	790	20	.	.	PUNCT
cblr-1707	791	1	all	all	PRON
cblr-1707	791	2	else	else	ADV
cblr-1707	791	3	being	be	AUX
cblr-1707	791	4	equal	equal	ADJ
cblr-1707	791	5	,	,	PUNCT
cblr-1707	791	6	increasing	increase	VERB
cblr-1707	791	7	administered	administer	VERB
cblr-1707	791	8	rates	rate	NOUN
cblr-1707	791	9	reduces	reduce	VERB
cblr-1707	791	10	seigniorage	seigniorage	NOUN
cblr-1707	791	11	,	,	PUNCT
cblr-1707	791	12	as	as	SCONJ
cblr-1707	791	13	each	each	DET
cblr-1707	791	14	dollar	dollar	NOUN
cblr-1707	791	15	of	of	ADP
cblr-1707	791	16	interest	interest	NOUN
cblr-1707	791	17	paid	pay	VERB
cblr-1707	791	18	is	be	AUX
cblr-1707	791	19	one	one	NUM
cblr-1707	791	20	dollar	dollar	NOUN
cblr-1707	791	21	less	less	ADJ
cblr-1707	791	22	of	of	ADP
cblr-1707	791	23	government	government	NOUN
cblr-1707	791	24	revenue	revenue	NOUN
cblr-1707	791	25	from	from	ADP
cblr-1707	791	26	money	money	NOUN
cblr-1707	791	27	creation	creation	NOUN
cblr-1707	791	28	.	.	PUNCT
cblr-1707	792	1	now	now	ADV
cblr-1707	792	2	suppose	suppose	VERB
cblr-1707	792	3	the	the	DET
cblr-1707	792	4	government	government	NOUN
cblr-1707	792	5	elects	elect	NOUN
cblr-1707	792	6	to	to	PART
cblr-1707	792	7	outsource	outsource	VERB
cblr-1707	792	8	(	(	PUNCT
cblr-1707	792	9	never	never	ADV
cblr-1707	792	10	mind	mind	VERB
cblr-1707	792	11	why)130	why)130	NOUN
cblr-1707	792	12	by	by	ADP
cblr-1707	792	13	establishing	establish	VERB
cblr-1707	792	14	chartered	chartered	ADJ
cblr-1707	792	15	banks	bank	NOUN
cblr-1707	792	16	whose	whose	DET
cblr-1707	792	17	equity	equity	NOUN
cblr-1707	792	18	is	be	AUX
cblr-1707	792	19	privately	privately	ADV
cblr-1707	792	20	owned	own	VERB
cblr-1707	792	21	.	.	PUNCT
cblr-1707	793	1	can	can	AUX
cblr-1707	793	2	administered	administered	VERB
cblr-1707	793	3	deposit	deposit	NOUN
cblr-1707	793	4	rates	rate	NOUN
cblr-1707	793	5	,	,	PUNCT
cblr-1707	793	6	determined	determine	VERB
cblr-1707	793	7	as	as	ADP
cblr-1707	793	8	a	a	DET
cblr-1707	793	9	matter	matter	NOUN
cblr-1707	793	10	of	of	ADP
cblr-1707	793	11	monetary	monetary	ADJ
cblr-1707	793	12	policy	policy	NOUN
cblr-1707	793	13	,	,	PUNCT
cblr-1707	793	14	be	be	AUX
cblr-1707	793	15	sustained	sustain	VERB
cblr-1707	793	16	?	?	PUNCT
cblr-1707	794	1	that	that	PRON
cblr-1707	794	2	is	be	AUX
cblr-1707	794	3	,	,	PUNCT
cblr-1707	794	4	can	can	AUX
cblr-1707	794	5	the	the	DET
cblr-1707	794	6	monetary	monetary	ADJ
cblr-1707	794	7	authority	authority	NOUN
cblr-1707	794	8	retain	retain	VERB
cblr-1707	794	9	control	control	NOUN
cblr-1707	794	10	over	over	ADP
cblr-1707	794	11	the	the	DET
cblr-1707	794	12	interest	interest	NOUN
cblr-1707	794	13	paid	pay	VERB
cblr-1707	794	14	on	on	ADP
cblr-1707	794	15	account	account	NOUN
cblr-1707	794	16	money	money	NOUN
cblr-1707	794	17	?	?	PUNCT
cblr-1707	795	1	there	there	PRON
cblr-1707	795	2	is	be	VERB
cblr-1707	795	3	no	no	DET
cblr-1707	795	4	reason	reason	NOUN
cblr-1707	795	5	in	in	ADP
cblr-1707	795	6	principle	principle	NOUN
cblr-1707	795	7	why	why	SCONJ
cblr-1707	795	8	it	it	PRON
cblr-1707	795	9	can	can	AUX
cblr-1707	795	10	not	not	PART
cblr-1707	795	11	.	.	PUNCT
cblr-1707	796	1	demsetz	demsetz	VERB
cblr-1707	796	2	’s	’s	PART
cblr-1707	796	3	franchise	franchise	NOUN
cblr-1707	796	4	bidding	bidding	NOUN
cblr-1707	796	5	framework	framework	NOUN
cblr-1707	796	6	is	be	AUX
cblr-1707	796	7	instructive	instructive	ADJ
cblr-1707	796	8	here.131	here.131	PROPN
cblr-1707	796	9	bank	bank	NOUN
cblr-1707	796	10	charters	charter	NOUN
cblr-1707	796	11	afford	afford	VERB
cblr-1707	796	12	the	the	DET
cblr-1707	796	13	valuable	valuable	ADJ
cblr-1707	796	14	privilege	privilege	NOUN
cblr-1707	796	15	of	of	ADP
cblr-1707	796	16	issuing	issue	VERB
cblr-1707	796	17	account	account	NOUN
cblr-1707	796	18	money	money	NOUN
cblr-1707	796	19	(	(	PUNCT
cblr-1707	796	20	“	"	PUNCT
cblr-1707	796	21	deposits	deposit	NOUN
cblr-1707	796	22	”	"	PUNCT
cblr-1707	796	23	)	)	PUNCT
cblr-1707	796	24	,	,	PUNCT
cblr-1707	796	25	an	an	DET
cblr-1707	796	26	especially	especially	ADV
cblr-1707	796	27	cheap	cheap	ADJ
cblr-1707	796	28	source	source	NOUN
cblr-1707	796	29	of	of	ADP
cblr-1707	796	30	funding.132	funding.132	NOUN
cblr-1707	796	31	in	in	ADP
cblr-1707	796	32	a	a	DET
cblr-1707	796	33	competitive	competitive	ADJ
cblr-1707	796	34	auction	auction	NOUN
cblr-1707	796	35	,	,	PUNCT
cblr-1707	796	36	entrepreneurs	entrepreneur	NOUN
cblr-1707	796	37	would	would	AUX
cblr-1707	796	38	bid	bid	VERB
cblr-1707	796	39	up	up	ADP
cblr-1707	796	40	the	the	DET
cblr-1707	796	41	price	price	NOUN
cblr-1707	796	42	of	of	ADP
cblr-1707	796	43	bank	bank	NOUN
cblr-1707	796	44	charters	charter	NOUN
cblr-1707	796	45	until	until	SCONJ
cblr-1707	796	46	they	they	PRON
cblr-1707	796	47	were	be	AUX
cblr-1707	796	48	just	just	ADV
cblr-1707	796	49	indifferent	indifferent	ADJ
cblr-1707	796	50	to	to	ADP
cblr-1707	796	51	having	have	VERB
cblr-1707	796	52	one	one	NUM
cblr-1707	796	53	.	.	PUNCT
cblr-1707	797	1	this	this	DET
cblr-1707	797	2	price	price	NOUN
cblr-1707	797	3	could	could	AUX
cblr-1707	797	4	consist	consist	VERB
cblr-1707	797	5	of	of	ADP
cblr-1707	797	6	a	a	DET
cblr-1707	797	7	lump	lump	NOUN
cblr-1707	797	8	-	-	PUNCT
cblr-1707	797	9	sum	sum	NOUN
cblr-1707	797	10	payment	payment	NOUN
cblr-1707	797	11	to	to	ADP
cblr-1707	797	12	the	the	DET
cblr-1707	797	13	government	government	NOUN
cblr-1707	797	14	(	(	PUNCT
cblr-1707	797	15	as	as	ADP
cblr-1707	797	16	in	in	ADP
cblr-1707	797	17	an	an	DET
cblr-1707	797	18	auction	auction	NOUN
cblr-1707	797	19	of	of	ADP
cblr-1707	797	20	broadcast	broadcast	NOUN
cblr-1707	797	21	spectrum	spectrum	NOUN
cblr-1707	797	22	)	)	PUNCT
cblr-1707	797	23	,	,	PUNCT
cblr-1707	797	24	but	but	CCONJ
cblr-1707	797	25	it	it	PRON
cblr-1707	797	26	would	would	AUX
cblr-1707	797	27	more	more	ADV
cblr-1707	797	28	likely	likely	ADV
cblr-1707	797	29	involve	involve	VERB
cblr-1707	797	30	a	a	DET
cblr-1707	797	31	stream	stream	NOUN
cblr-1707	797	32	of	of	ADP
cblr-1707	797	33	payments	payment	NOUN
cblr-1707	797	34	in	in	ADP
cblr-1707	797	35	which	which	PRON
cblr-1707	797	36	the	the	DET
cblr-1707	797	37	winning	win	VERB
cblr-1707	797	38	bidders	bidder	NOUN
cblr-1707	797	39	would	would	AUX
cblr-1707	797	40	agree	agree	VERB
cblr-1707	797	41	to	to	PART
cblr-1707	797	42	pay	pay	VERB
cblr-1707	797	43	the	the	DET
cblr-1707	797	44	government	government	NOUN
cblr-1707	797	45	each	each	DET
cblr-1707	797	46	period	period	NOUN
cblr-1707	797	47	the	the	DET
cblr-1707	797	48	difference	difference	NOUN
cblr-1707	797	49	between	between	ADP
cblr-1707	797	50	their	their	PRON
cblr-1707	797	51	“	"	PUNCT
cblr-1707	797	52	fair	fair	ADJ
cblr-1707	797	53	”	"	PUNCT
cblr-1707	797	54	cost	cost	NOUN
cblr-1707	797	55	of	of	ADP
cblr-1707	797	56	financing	financing	NOUN
cblr-1707	797	57	—	—	PUNCT
cblr-1707	797	58	the	the	DET
cblr-1707	797	59	cost	cost	NOUN
cblr-1707	797	60	of	of	ADP
cblr-1707	797	61	financing	financing	NOUN
cblr-1707	797	62	they	they	PRON
cblr-1707	797	63	would	would	AUX
cblr-1707	797	64	incur	incur	VERB
cblr-1707	797	65	if	if	SCONJ
cblr-1707	797	66	they	they	PRON
cblr-1707	797	67	replaced	replace	VERB
cblr-1707	797	68	their	their	PRON
cblr-1707	797	69	deposit	deposit	NOUN
cblr-1707	797	70	funding	funding	NOUN
cblr-1707	797	71	with	with	ADP
cblr-1707	797	72	debt	debt	NOUN
cblr-1707	797	73	financing	financing	NOUN
cblr-1707	797	74	in	in	ADP
cblr-1707	797	75	the	the	DET
cblr-1707	797	76	longer	long	ADJ
cblr-1707	797	77	-	-	PUNCT
cblr-1707	797	78	term	term	NOUN
cblr-1707	797	79	private	private	ADJ
cblr-1707	797	80	capital	capital	NOUN
cblr-1707	797	81	markets	market	NOUN
cblr-1707	797	82	—	—	PUNCT
cblr-1707	797	83	and	and	CCONJ
cblr-1707	797	84	their	their	PRON
cblr-1707	797	85	actual	actual	ADJ
cblr-1707	797	86	cost	cost	NOUN
cblr-1707	797	87	of	of	ADP
cblr-1707	797	88	deposit	deposit	NOUN
cblr-1707	797	89	funding	funding	NOUN
cblr-1707	797	90	.	.	PUNCT
cblr-1707	798	1	from	from	ADP
cblr-1707	798	2	the	the	DET
cblr-1707	798	3	government	government	NOUN
cblr-1707	798	4	’s	’s	PART
cblr-1707	798	5	standpoint	standpoint	NOUN
cblr-1707	798	6	,	,	PUNCT
cblr-1707	798	7	this	this	DET
cblr-1707	798	8	payment	payment	NOUN
cblr-1707	798	9	stream	stream	NOUN
cblr-1707	798	10	would	would	AUX
cblr-1707	798	11	be	be	AUX
cblr-1707	798	12	a	a	DET
cblr-1707	798	13	form	form	NOUN
cblr-1707	798	14	of	of	ADP
cblr-1707	798	15	seigniorage	seigniorage	NOUN
cblr-1707	798	16	revenue	revenue	NOUN
cblr-1707	798	17	.	.	PUNCT
cblr-1707	799	1	130	130	NUM
cblr-1707	799	2	see	see	VERB
cblr-1707	799	3	infra	infra	NOUN
cblr-1707	799	4	notes	note	VERB
cblr-1707	799	5	194–204	194–204	NUM
cblr-1707	799	6	and	and	CCONJ
cblr-1707	799	7	accompanying	accompany	VERB
cblr-1707	799	8	text	text	NOUN
cblr-1707	799	9	.	.	PUNCT
cblr-1707	800	1	131	131	NUM
cblr-1707	800	2	see	see	VERB
cblr-1707	800	3	supra	supra	PROPN
cblr-1707	800	4	notes	note	VERB
cblr-1707	800	5	35–37	35–37	PROPN
cblr-1707	800	6	and	and	CCONJ
cblr-1707	800	7	accompanying	accompany	VERB
cblr-1707	800	8	text	text	NOUN
cblr-1707	800	9	.	.	PUNCT
cblr-1707	801	1	132	132	NUM
cblr-1707	801	2	gary	gary	PROPN
cblr-1707	801	3	gorton	gorton	PROPN
cblr-1707	801	4	,	,	PUNCT
cblr-1707	801	5	bank	bank	NOUN
cblr-1707	801	6	regulation	regulation	NOUN
cblr-1707	801	7	when	when	SCONJ
cblr-1707	801	8	‘	'	PUNCT
cblr-1707	801	9	banks	bank	NOUN
cblr-1707	801	10	’	'	PUNCT
cblr-1707	801	11	and	and	CCONJ
cblr-1707	801	12	‘	'	PUNCT
cblr-1707	801	13	banking	banking	NOUN
cblr-1707	801	14	’	'	PUNCT
cblr-1707	801	15	are	be	AUX
cblr-1707	801	16	not	not	PART
cblr-1707	801	17	the	the	DET
cblr-1707	801	18	same	same	ADJ
cblr-1707	801	19	,	,	PUNCT
cblr-1707	801	20	10	10	NUM
cblr-1707	801	21	oxford	oxford	PROPN
cblr-1707	801	22	rev	rev	PROPN
cblr-1707	801	23	.	.	PROPN
cblr-1707	801	24	econ	econ	PROPN
cblr-1707	801	25	.	.	PUNCT
cblr-1707	802	1	pol	pol	PROPN
cblr-1707	802	2	.	.	PUNCT
cblr-1707	803	1	106	106	NUM
cblr-1707	803	2	,	,	PUNCT
cblr-1707	803	3	107–08	107–08	NUM
cblr-1707	803	4	(	(	PUNCT
cblr-1707	803	5	1994	1994	NUM
cblr-1707	803	6	)	)	PUNCT
cblr-1707	803	7	(	(	PUNCT
cblr-1707	803	8	discussing	discuss	VERB
cblr-1707	803	9	the	the	DET
cblr-1707	803	10	“	"	PUNCT
cblr-1707	803	11	charter	charter	NOUN
cblr-1707	803	12	value	value	NOUN
cblr-1707	803	13	”	"	PUNCT
cblr-1707	803	14	of	of	ADP
cblr-1707	803	15	banks	bank	NOUN
cblr-1707	803	16	)	)	PUNCT
cblr-1707	803	17	;	;	PUNCT
cblr-1707	804	1	cf	cf	X
cblr-1707	804	2	.	.	PUNCT
cblr-1707	805	1	jeremy	jeremy	PROPN
cblr-1707	805	2	c.	c.	PROPN
cblr-1707	805	3	stein	stein	PROPN
cblr-1707	805	4	,	,	PUNCT
cblr-1707	805	5	monetary	monetary	ADJ
cblr-1707	805	6	policy	policy	NOUN
cblr-1707	805	7	as	as	ADP
cblr-1707	805	8	financial	financial	ADJ
cblr-1707	805	9	stability	stability	NOUN
cblr-1707	805	10	regulation	regulation	NOUN
cblr-1707	805	11	,	,	PUNCT
cblr-1707	805	12	127	127	NUM
cblr-1707	805	13	q.j	q.j	PROPN
cblr-1707	805	14	.	.	PROPN
cblr-1707	805	15	econ	econ	PROPN
cblr-1707	805	16	.	.	PUNCT
cblr-1707	806	1	57	57	NUM
cblr-1707	806	2	,	,	PUNCT
cblr-1707	806	3	63	63	NUM
cblr-1707	806	4	(	(	PUNCT
cblr-1707	806	5	2012	2012	NUM
cblr-1707	806	6	)	)	PUNCT
cblr-1707	806	7	(	(	PUNCT
cblr-1707	806	8	noting	note	VERB
cblr-1707	806	9	the	the	DET
cblr-1707	806	10	low	low	ADJ
cblr-1707	806	11	pecuniary	pecuniary	ADJ
cblr-1707	806	12	yield	yield	NOUN
cblr-1707	806	13	of	of	ADP
cblr-1707	806	14	money	money	NOUN
cblr-1707	806	15	-	-	PUNCT
cblr-1707	806	16	like	like	ADJ
cblr-1707	806	17	claims	claim	NOUN
cblr-1707	806	18	)	)	PUNCT
cblr-1707	806	19	.	.	PUNCT
cblr-1707	807	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	807	2	no	no	NOUN
cblr-1707	807	3	.	.	PUNCT
cblr-1707	808	1	3:757	3:757	NUM
cblr-1707	808	2	]	]	X
cblr-1707	808	3	money	money	NOUN
cblr-1707	808	4	as	as	ADP
cblr-1707	808	5	infrastructure	infrastructure	NOUN
cblr-1707	808	6	803	803	NUM
cblr-1707	808	7	in	in	ADP
cblr-1707	808	8	this	this	DET
cblr-1707	808	9	structure	structure	NOUN
cblr-1707	808	10	,	,	PUNCT
cblr-1707	808	11	bank	bank	NOUN
cblr-1707	808	12	stockholders	stockholder	NOUN
cblr-1707	808	13	are	be	AUX
cblr-1707	808	14	completely	completely	ADV
cblr-1707	808	15	indifferent	indifferent	ADJ
cblr-1707	808	16	to	to	ADP
cblr-1707	808	17	government	government	NOUN
cblr-1707	808	18	-	-	PUNCT
cblr-1707	808	19	administered	administer	VERB
cblr-1707	808	20	bank	bank	NOUN
cblr-1707	808	21	deposit	deposit	NOUN
cblr-1707	808	22	rates	rate	NOUN
cblr-1707	808	23	.	.	PUNCT
cblr-1707	809	1	banks	bank	NOUN
cblr-1707	809	2	pay	pay	VERB
cblr-1707	809	3	the	the	DET
cblr-1707	809	4	fair	fair	ADJ
cblr-1707	809	5	cost	cost	NOUN
cblr-1707	809	6	of	of	ADP
cblr-1707	809	7	financing	financing	NOUN
cblr-1707	809	8	no	no	ADV
cblr-1707	809	9	matter	matter	ADV
cblr-1707	809	10	what	what	PRON
cblr-1707	809	11	;	;	PUNCT
cblr-1707	809	12	how	how	SCONJ
cblr-1707	809	13	these	these	DET
cblr-1707	809	14	payments	payment	NOUN
cblr-1707	809	15	are	be	AUX
cblr-1707	809	16	divvied	divvy	VERB
cblr-1707	809	17	up	up	ADP
cblr-1707	809	18	between	between	ADP
cblr-1707	809	19	account	account	NOUN
cblr-1707	809	20	holders	holder	NOUN
cblr-1707	809	21	and	and	CCONJ
cblr-1707	809	22	the	the	DET
cblr-1707	809	23	government	government	NOUN
cblr-1707	809	24	is	be	AUX
cblr-1707	809	25	irrelevant	irrelevant	ADJ
cblr-1707	809	26	to	to	ADP
cblr-1707	809	27	the	the	DET
cblr-1707	809	28	banks	bank	NOUN
cblr-1707	809	29	.	.	PUNCT
cblr-1707	810	1	the	the	DET
cblr-1707	810	2	monetary	monetary	ADJ
cblr-1707	810	3	authority	authority	NOUN
cblr-1707	810	4	retains	retain	VERB
cblr-1707	810	5	the	the	DET
cblr-1707	810	6	power	power	NOUN
cblr-1707	810	7	to	to	PART
cblr-1707	810	8	determine	determine	VERB
cblr-1707	810	9	bank	bank	NOUN
cblr-1707	810	10	account	account	NOUN
cblr-1707	810	11	rates	rate	NOUN
cblr-1707	810	12	in	in	ADP
cblr-1707	810	13	the	the	DET
cblr-1707	810	14	conduct	conduct	NOUN
cblr-1707	810	15	of	of	ADP
cblr-1707	810	16	monetary	monetary	ADJ
cblr-1707	810	17	policy	policy	NOUN
cblr-1707	810	18	.	.	PUNCT
cblr-1707	811	1	raising	raise	VERB
cblr-1707	811	2	deposit	deposit	NOUN
cblr-1707	811	3	rates	rate	NOUN
cblr-1707	811	4	reduces	reduce	VERB
cblr-1707	811	5	seigniorage	seigniorage	NOUN
cblr-1707	811	6	revenue	revenue	NOUN
cblr-1707	811	7	in	in	ADP
cblr-1707	811	8	the	the	DET
cblr-1707	811	9	fully	fully	ADV
cblr-1707	811	10	insourced	insource	VERB
cblr-1707	811	11	system	system	NOUN
cblr-1707	811	12	—	—	PUNCT
cblr-1707	811	13	just	just	ADV
cblr-1707	811	14	as	as	ADP
cblr-1707	811	15	with	with	ADP
cblr-1707	811	16	administered	administer	VERB
cblr-1707	811	17	rates	rate	NOUN
cblr-1707	811	18	in	in	ADP
cblr-1707	811	19	today	today	NOUN
cblr-1707	811	20	’s	’s	PART
cblr-1707	811	21	framework	framework	NOUN
cblr-1707	811	22	,	,	PUNCT
cblr-1707	811	23	as	as	SCONJ
cblr-1707	811	24	shown	show	VERB
cblr-1707	811	25	above	above	ADP
cblr-1707	811	26	.	.	PUNCT
cblr-1707	812	1	when	when	SCONJ
cblr-1707	812	2	the	the	DET
cblr-1707	812	3	government	government	NOUN
cblr-1707	812	4	insources	insource	VERB
cblr-1707	812	5	,	,	PUNCT
cblr-1707	812	6	it	it	PRON
cblr-1707	812	7	receives	receive	VERB
cblr-1707	812	8	all	all	DET
cblr-1707	812	9	the	the	DET
cblr-1707	812	10	revenue	revenue	NOUN
cblr-1707	812	11	generated	generate	VERB
cblr-1707	812	12	by	by	ADP
cblr-1707	812	13	money	money	NOUN
cblr-1707	812	14	creation	creation	NOUN
cblr-1707	812	15	.	.	PUNCT
cblr-1707	813	1	when	when	SCONJ
cblr-1707	813	2	it	it	PRON
cblr-1707	813	3	outsources	outsource	VERB
cblr-1707	813	4	,	,	PUNCT
cblr-1707	813	5	it	it	PRON
cblr-1707	813	6	presumably	presumably	ADV
cblr-1707	813	7	should	should	AUX
cblr-1707	813	8	give	give	VERB
cblr-1707	813	9	up	up	ADP
cblr-1707	813	10	no	no	DET
cblr-1707	813	11	more	more	ADJ
cblr-1707	813	12	revenue	revenue	NOUN
cblr-1707	813	13	than	than	ADP
cblr-1707	813	14	necessary	necessary	ADJ
cblr-1707	813	15	to	to	PART
cblr-1707	813	16	induce	induce	VERB
cblr-1707	813	17	the	the	DET
cblr-1707	813	18	desired	desire	VERB
cblr-1707	813	19	private	private	ADJ
cblr-1707	813	20	sector	sector	NOUN
cblr-1707	813	21	participation	participation	NOUN
cblr-1707	813	22	.	.	PUNCT
cblr-1707	814	1	the	the	DET
cblr-1707	814	2	decision	decision	NOUN
cblr-1707	814	3	to	to	PART
cblr-1707	814	4	outsource	outsource	VERB
cblr-1707	814	5	in	in	ADP
cblr-1707	814	6	no	no	DET
cblr-1707	814	7	way	way	NOUN
cblr-1707	814	8	implies	imply	VERB
cblr-1707	814	9	that	that	SCONJ
cblr-1707	814	10	the	the	DET
cblr-1707	814	11	government	government	NOUN
cblr-1707	814	12	must	must	AUX
cblr-1707	814	13	forfeit	forfeit	VERB
cblr-1707	814	14	the	the	DET
cblr-1707	814	15	entirety	entirety	NOUN
cblr-1707	814	16	of	of	ADP
cblr-1707	814	17	the	the	DET
cblr-1707	814	18	associated	associated	ADJ
cblr-1707	814	19	seigniorage	seigniorage	NOUN
cblr-1707	814	20	revenue	revenue	NOUN
cblr-1707	814	21	stream	stream	NOUN
cblr-1707	814	22	.	.	PUNCT
cblr-1707	815	1	this	this	DET
cblr-1707	815	2	structure	structure	NOUN
cblr-1707	815	3	would	would	AUX
cblr-1707	815	4	involve	involve	VERB
cblr-1707	815	5	the	the	DET
cblr-1707	815	6	monetary	monetary	ADJ
cblr-1707	815	7	authority	authority	NOUN
cblr-1707	815	8	in	in	ADP
cblr-1707	815	9	a	a	DET
cblr-1707	815	10	difficult	difficult	ADJ
cblr-1707	815	11	valuation	valuation	NOUN
cblr-1707	815	12	task	task	NOUN
cblr-1707	815	13	:	:	PUNCT
cblr-1707	815	14	determining	determine	VERB
cblr-1707	815	15	a	a	DET
cblr-1707	815	16	“	"	PUNCT
cblr-1707	815	17	fair	fair	ADJ
cblr-1707	815	18	”	"	PUNCT
cblr-1707	815	19	cost	cost	NOUN
cblr-1707	815	20	of	of	ADP
cblr-1707	815	21	financing	financing	NOUN
cblr-1707	815	22	for	for	ADP
cblr-1707	815	23	each	each	DET
cblr-1707	815	24	bank	bank	NOUN
cblr-1707	815	25	.	.	PUNCT
cblr-1707	816	1	no	no	PRON
cblr-1707	816	2	doubt	doubt	ADV
cblr-1707	816	3	this	this	PRON
cblr-1707	816	4	is	be	AUX
cblr-1707	816	5	challenging	challenging	ADJ
cblr-1707	816	6	,	,	PUNCT
cblr-1707	816	7	but	but	CCONJ
cblr-1707	816	8	it	it	PRON
cblr-1707	816	9	raises	raise	VERB
cblr-1707	816	10	two	two	NUM
cblr-1707	816	11	points	point	NOUN
cblr-1707	816	12	that	that	PRON
cblr-1707	816	13	are	be	AUX
cblr-1707	816	14	germane	germane	ADJ
cblr-1707	816	15	to	to	ADP
cblr-1707	816	16	this	this	DET
cblr-1707	816	17	article	article	NOUN
cblr-1707	816	18	’s	’s	PART
cblr-1707	816	19	broader	broad	ADJ
cblr-1707	816	20	argument	argument	NOUN
cblr-1707	816	21	.	.	PUNCT
cblr-1707	817	1	first	first	ADV
cblr-1707	817	2	,	,	PUNCT
cblr-1707	817	3	u.s	u.s	PROPN
cblr-1707	817	4	.	.	PROPN
cblr-1707	817	5	bank	bank	NOUN
cblr-1707	817	6	regulators	regulator	NOUN
cblr-1707	817	7	are	be	AUX
cblr-1707	817	8	already	already	ADV
cblr-1707	817	9	engaged	engage	VERB
cblr-1707	817	10	in	in	ADP
cblr-1707	817	11	this	this	DET
cblr-1707	817	12	valuation	valuation	NOUN
cblr-1707	817	13	exercise	exercise	NOUN
cblr-1707	817	14	.	.	PUNCT
cblr-1707	818	1	they	they	PRON
cblr-1707	818	2	have	have	AUX
cblr-1707	818	3	been	be	AUX
cblr-1707	818	4	doing	do	VERB
cblr-1707	818	5	it	it	PRON
cblr-1707	818	6	for	for	ADP
cblr-1707	818	7	a	a	DET
cblr-1707	818	8	quarter	quarter	NOUN
cblr-1707	818	9	century	century	NOUN
cblr-1707	818	10	,	,	PUNCT
cblr-1707	818	11	albeit	albeit	SCONJ
cblr-1707	818	12	in	in	ADP
cblr-1707	818	13	a	a	DET
cblr-1707	818	14	somewhat	somewhat	ADV
cblr-1707	818	15	crude	crude	ADJ
cblr-1707	818	16	way	way	NOUN
cblr-1707	818	17	.	.	PUNCT
cblr-1707	819	1	since	since	SCONJ
cblr-1707	819	2	1991	1991	NUM
cblr-1707	819	3	,	,	PUNCT
cblr-1707	819	4	deposit	deposit	NOUN
cblr-1707	819	5	insurance	insurance	NOUN
cblr-1707	819	6	fees	fee	NOUN
cblr-1707	819	7	that	that	PRON
cblr-1707	819	8	banks	bank	NOUN
cblr-1707	819	9	pay	pay	VERB
cblr-1707	819	10	to	to	ADP
cblr-1707	819	11	the	the	DET
cblr-1707	819	12	federal	federal	ADJ
cblr-1707	819	13	deposit	deposit	NOUN
cblr-1707	819	14	insurance	insurance	NOUN
cblr-1707	819	15	corporation	corporation	NOUN
cblr-1707	819	16	(	(	PUNCT
cblr-1707	819	17	“	"	PUNCT
cblr-1707	819	18	fdic	fdic	ADJ
cblr-1707	819	19	”	"	PUNCT
cblr-1707	819	20	)	)	PUNCT
cblr-1707	819	21	have	have	AUX
cblr-1707	819	22	been	be	AUX
cblr-1707	819	23	risk	risk	NOUN
cblr-1707	819	24	-	-	PUNCT
cblr-1707	819	25	based	base	VERB
cblr-1707	819	26	,	,	PUNCT
cblr-1707	819	27	or	or	CCONJ
cblr-1707	819	28	keyed	key	VERB
cblr-1707	819	29	to	to	ADP
cblr-1707	819	30	the	the	DET
cblr-1707	819	31	risk	risk	NOUN
cblr-1707	819	32	of	of	ADP
cblr-1707	819	33	the	the	DET
cblr-1707	819	34	bank	bank	NOUN
cblr-1707	819	35	’s	’s	PART
cblr-1707	819	36	insolvency.133	insolvency.133	NOUN
cblr-1707	819	37	in	in	ADP
cblr-1707	819	38	principle	principle	NOUN
cblr-1707	819	39	,	,	PUNCT
cblr-1707	819	40	riskbased	riskbase	VERB
cblr-1707	819	41	fees	fee	NOUN
cblr-1707	819	42	impose	impose	VERB
cblr-1707	819	43	a	a	DET
cblr-1707	819	44	fair	fair	ADJ
cblr-1707	819	45	price	price	NOUN
cblr-1707	819	46	for	for	ADP
cblr-1707	819	47	the	the	DET
cblr-1707	819	48	risk	risk	NOUN
cblr-1707	819	49	underwritten	underwrite	VERB
cblr-1707	819	50	by	by	ADP
cblr-1707	819	51	the	the	DET
cblr-1707	819	52	deposit	deposit	NOUN
cblr-1707	819	53	insurer	insurer	NOUN
cblr-1707	819	54	,	,	PUNCT
cblr-1707	819	55	which	which	PRON
cblr-1707	819	56	is	be	AUX
cblr-1707	819	57	the	the	DET
cblr-1707	819	58	risk	risk	NOUN
cblr-1707	819	59	that	that	SCONJ
cblr-1707	819	60	the	the	DET
cblr-1707	819	61	bank	bank	NOUN
cblr-1707	819	62	’s	’s	PART
cblr-1707	819	63	assets	asset	NOUN
cblr-1707	819	64	may	may	AUX
cblr-1707	819	65	become	become	VERB
cblr-1707	819	66	insufficient	insufficient	ADJ
cblr-1707	819	67	to	to	PART
cblr-1707	819	68	cover	cover	VERB
cblr-1707	819	69	its	its	PRON
cblr-1707	819	70	insured	insure	VERB
cblr-1707	819	71	liabilities	liability	NOUN
cblr-1707	819	72	.	.	PUNCT
cblr-1707	820	1	if	if	SCONJ
cblr-1707	820	2	bank	bank	NOUN
cblr-1707	820	3	regulators	regulator	NOUN
cblr-1707	820	4	price	price	NOUN
cblr-1707	820	5	fees	fee	NOUN
cblr-1707	820	6	correctly	correctly	ADV
cblr-1707	820	7	,	,	PUNCT
cblr-1707	820	8	the	the	DET
cblr-1707	820	9	deposit	deposit	NOUN
cblr-1707	820	10	insurer	insurer	NOUN
cblr-1707	820	11	expects	expect	VERB
cblr-1707	820	12	to	to	ADP
cblr-1707	820	13	133	133	NUM
cblr-1707	820	14	see	see	VERB
cblr-1707	820	15	federal	federal	ADJ
cblr-1707	820	16	deposit	deposit	NOUN
cblr-1707	820	17	insurance	insurance	NOUN
cblr-1707	820	18	corporation	corporation	PROPN
cblr-1707	820	19	improvement	improvement	PROPN
cblr-1707	820	20	act	act	PROPN
cblr-1707	820	21	(	(	PUNCT
cblr-1707	820	22	fdicia	fdicia	PROPN
cblr-1707	820	23	)	)	PUNCT
cblr-1707	820	24	of	of	ADP
cblr-1707	820	25	1991	1991	NUM
cblr-1707	820	26	,	,	PUNCT
cblr-1707	820	27	pub	pub	NOUN
cblr-1707	820	28	.	.	PUNCT
cblr-1707	821	1	l.	l.	PROPN
cblr-1707	821	2	no	no	INTJ
cblr-1707	821	3	.	.	PROPN
cblr-1707	822	1	102	102	NUM
cblr-1707	822	2	-	-	SYM
cblr-1707	822	3	242	242	NUM
cblr-1707	822	4	,	,	PUNCT
cblr-1707	822	5	§	§	PROPN
cblr-1707	822	6	302(a)–(b	302(a)–(b	NOUN
cblr-1707	822	7	)	)	PUNCT
cblr-1707	822	8	,	,	PUNCT
cblr-1707	822	9	105	105	NUM
cblr-1707	822	10	stat	stat	NOUN
cblr-1707	822	11	.	.	PUNCT
cblr-1707	823	1	2236	2236	NUM
cblr-1707	823	2	,	,	PUNCT
cblr-1707	823	3	2345	2345	NUM
cblr-1707	823	4	–	–	PUNCT
cblr-1707	823	5	49	49	NUM
cblr-1707	823	6	(	(	PUNCT
cblr-1707	823	7	codified	codify	VERB
cblr-1707	823	8	as	as	SCONJ
cblr-1707	823	9	amended	amend	VERB
cblr-1707	823	10	at	at	ADP
cblr-1707	823	11	12	12	NUM
cblr-1707	823	12	u.s.c	u.s.c	ADJ
cblr-1707	823	13	.	.	PUNCT
cblr-1707	824	1	§	§	PROPN
cblr-1707	824	2	1817(b	1817(b	PROPN
cblr-1707	824	3	)	)	PUNCT
cblr-1707	824	4	(	(	PUNCT
cblr-1707	824	5	2012	2012	NUM
cblr-1707	824	6	)	)	PUNCT
cblr-1707	824	7	)	)	PUNCT
cblr-1707	824	8	.	.	PUNCT
cblr-1707	825	1	prior	prior	ADV
cblr-1707	825	2	to	to	ADP
cblr-1707	825	3	that	that	DET
cblr-1707	825	4	time	time	NOUN
cblr-1707	825	5	,	,	PUNCT
cblr-1707	825	6	deposit	deposit	NOUN
cblr-1707	825	7	insurance	insurance	NOUN
cblr-1707	825	8	fees	fee	NOUN
cblr-1707	825	9	were	be	AUX
cblr-1707	825	10	one	one	NUM
cblr-1707	825	11	size	size	NOUN
cblr-1707	825	12	fits	fit	VERB
cblr-1707	825	13	all	all	PRON
cblr-1707	825	14	—	—	PUNCT
cblr-1707	825	15	they	they	PRON
cblr-1707	825	16	were	be	AUX
cblr-1707	825	17	not	not	PART
cblr-1707	825	18	scaled	scale	VERB
cblr-1707	825	19	to	to	ADP
cblr-1707	825	20	the	the	DET
cblr-1707	825	21	risk	risk	NOUN
cblr-1707	825	22	of	of	ADP
cblr-1707	825	23	the	the	DET
cblr-1707	825	24	institution	institution	NOUN
cblr-1707	825	25	.	.	PUNCT
cblr-1707	826	1	evidence	evidence	NOUN
cblr-1707	826	2	from	from	ADP
cblr-1707	826	3	the	the	DET
cblr-1707	826	4	stock	stock	NOUN
cblr-1707	826	5	market	market	NOUN
cblr-1707	826	6	suggests	suggest	VERB
cblr-1707	826	7	that	that	SCONJ
cblr-1707	826	8	the	the	DET
cblr-1707	826	9	introduction	introduction	NOUN
cblr-1707	826	10	of	of	ADP
cblr-1707	826	11	risk	risk	NOUN
cblr-1707	826	12	-	-	PUNCT
cblr-1707	826	13	based	base	VERB
cblr-1707	826	14	fees	fee	NOUN
cblr-1707	826	15	penalized	penalize	VERB
cblr-1707	826	16	risky	risky	ADJ
cblr-1707	826	17	banks	bank	NOUN
cblr-1707	826	18	and	and	CCONJ
cblr-1707	826	19	rewarded	reward	VERB
cblr-1707	826	20	safer	safe	ADJ
cblr-1707	826	21	banks	bank	NOUN
cblr-1707	826	22	—	—	PUNCT
cblr-1707	826	23	exactly	exactly	ADV
cblr-1707	826	24	the	the	DET
cblr-1707	826	25	desired	desire	VERB
cblr-1707	826	26	incentive	incentive	NOUN
cblr-1707	826	27	effect	effect	NOUN
cblr-1707	826	28	.	.	PUNCT
cblr-1707	827	1	see	see	VERB
cblr-1707	827	2	marcia	marcia	PROPN
cblr-1707	827	3	m.	m.	PROPN
cblr-1707	827	4	cornett	cornett	PROPN
cblr-1707	827	5	,	,	PUNCT
cblr-1707	827	6	hamid	hamid	PROPN
cblr-1707	827	7	mehran	mehran	PROPN
cblr-1707	827	8	&	&	CCONJ
cblr-1707	827	9	hassan	hassan	PROPN
cblr-1707	827	10	tehranian	tehranian	PROPN
cblr-1707	827	11	,	,	PUNCT
cblr-1707	827	12	the	the	DET
cblr-1707	827	13	impact	impact	NOUN
cblr-1707	827	14	of	of	ADP
cblr-1707	827	15	risk	risk	NOUN
cblr-1707	827	16	-	-	PUNCT
cblr-1707	827	17	based	base	VERB
cblr-1707	827	18	premiums	premium	NOUN
cblr-1707	827	19	on	on	ADP
cblr-1707	827	20	fdic	fdic	ADJ
cblr-1707	827	21	-	-	PUNCT
cblr-1707	827	22	insured	insure	VERB
cblr-1707	827	23	institutions	institution	NOUN
cblr-1707	827	24	,	,	PUNCT
cblr-1707	827	25	2	2	NUM
cblr-1707	827	26	j.	j.	PROPN
cblr-1707	827	27	fin	fin	PROPN
cblr-1707	827	28	.	.	PUNCT
cblr-1707	828	1	servs	servs	PROPN
cblr-1707	828	2	.	.	PUNCT
cblr-1707	829	1	res	re	NOUN
cblr-1707	829	2	.	.	PROPN
cblr-1707	829	3	153	153	NUM
cblr-1707	829	4	,	,	PUNCT
cblr-1707	829	5	154–55	154–55	NUM
cblr-1707	829	6	(	(	PUNCT
cblr-1707	829	7	1998	1998	NUM
cblr-1707	829	8	)	)	PUNCT
cblr-1707	829	9	.	.	PUNCT
cblr-1707	830	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	830	2	804	804	NUM
cblr-1707	830	3	columbia	columbia	PROPN
cblr-1707	830	4	business	business	NOUN
cblr-1707	830	5	law	law	PROPN
cblr-1707	830	6	review	review	NOUN
cblr-1707	830	7	[	[	X
cblr-1707	830	8	vol	vol	NOUN
cblr-1707	830	9	.	.	NOUN
cblr-1707	830	10	2018	2018	NUM
cblr-1707	830	11	break	break	VERB
cblr-1707	830	12	even	even	ADV
cblr-1707	830	13	over	over	ADP
cblr-1707	830	14	time	time	NOUN
cblr-1707	830	15	:	:	PUNCT
cblr-1707	830	16	incoming	incoming	ADJ
cblr-1707	830	17	fees	fee	NOUN
cblr-1707	830	18	match	match	VERB
cblr-1707	830	19	payouts	payout	NOUN
cblr-1707	830	20	.	.	PUNCT
cblr-1707	831	1	the	the	DET
cblr-1707	831	2	structure	structure	NOUN
cblr-1707	831	3	of	of	ADP
cblr-1707	831	4	u.s	u.s	PROPN
cblr-1707	831	5	.	.	PROPN
cblr-1707	831	6	deposit	deposit	NOUN
cblr-1707	831	7	insurance	insurance	NOUN
cblr-1707	831	8	reflects	reflect	VERB
cblr-1707	831	9	this	this	DET
cblr-1707	831	10	expectation	expectation	NOUN
cblr-1707	831	11	;	;	PUNCT
cblr-1707	831	12	fees	fee	NOUN
cblr-1707	831	13	accrue	accrue	VERB
cblr-1707	831	14	to	to	ADP
cblr-1707	831	15	the	the	DET
cblr-1707	831	16	deposit	deposit	NOUN
cblr-1707	831	17	insurance	insurance	NOUN
cblr-1707	831	18	fund	fund	NOUN
cblr-1707	831	19	and	and	CCONJ
cblr-1707	831	20	are	be	AUX
cblr-1707	831	21	not	not	PART
cblr-1707	831	22	a	a	DET
cblr-1707	831	23	source	source	NOUN
cblr-1707	831	24	of	of	ADP
cblr-1707	831	25	government	government	NOUN
cblr-1707	831	26	revenue	revenue	NOUN
cblr-1707	831	27	.	.	PUNCT
cblr-1707	832	1	to	to	PART
cblr-1707	832	2	formalize	formalize	VERB
cblr-1707	832	3	slightly	slightly	ADV
cblr-1707	832	4	,	,	PUNCT
cblr-1707	832	5	any	any	DET
cblr-1707	832	6	firm	firm	NOUN
cblr-1707	832	7	’s	’s	PART
cblr-1707	832	8	debt	debt	NOUN
cblr-1707	832	9	financing	financing	NOUN
cblr-1707	832	10	cost	cost	NOUN
cblr-1707	832	11	can	can	AUX
cblr-1707	832	12	be	be	AUX
cblr-1707	832	13	expressed	express	VERB
cblr-1707	832	14	as	as	ADP
cblr-1707	832	15	rf	rf	ADJ
cblr-1707	832	16	+	+	CCONJ
cblr-1707	832	17	p	p	X
cblr-1707	832	18	,	,	PUNCT
cblr-1707	832	19	where	where	SCONJ
cblr-1707	832	20	rf	rf	NOUN
cblr-1707	832	21	is	be	AUX
cblr-1707	832	22	the	the	DET
cblr-1707	832	23	risk	risk	NOUN
cblr-1707	832	24	-	-	PUNCT
cblr-1707	832	25	free	free	ADJ
cblr-1707	832	26	rate	rate	NOUN
cblr-1707	832	27	corresponding	correspond	VERB
cblr-1707	832	28	to	to	ADP
cblr-1707	832	29	the	the	DET
cblr-1707	832	30	debt	debt	NOUN
cblr-1707	832	31	’s	’s	PART
cblr-1707	832	32	duration	duration	NOUN
cblr-1707	832	33	and	and	CCONJ
cblr-1707	832	34	p	p	NOUN
cblr-1707	832	35	is	be	AUX
cblr-1707	832	36	a	a	DET
cblr-1707	832	37	risk	risk	NOUN
cblr-1707	832	38	premium	premium	NOUN
cblr-1707	832	39	.	.	PUNCT
cblr-1707	833	1	well	well	ADV
cblr-1707	833	2	-	-	PUNCT
cblr-1707	833	3	priced	price	VERB
cblr-1707	833	4	deposit	deposit	NOUN
cblr-1707	833	5	insurance	insurance	NOUN
cblr-1707	833	6	fees	fee	NOUN
cblr-1707	833	7	correspond	correspond	VERB
cblr-1707	833	8	to	to	PART
cblr-1707	833	9	p.134	p.134	VERB
cblr-1707	833	10	recall	recall	VERB
cblr-1707	833	11	that	that	SCONJ
cblr-1707	833	12	,	,	PUNCT
cblr-1707	833	13	in	in	ADP
cblr-1707	833	14	the	the	DET
cblr-1707	833	15	outsourcing	outsourcing	NOUN
cblr-1707	833	16	scenario	scenario	NOUN
cblr-1707	833	17	described	describe	VERB
cblr-1707	833	18	above	above	ADV
cblr-1707	833	19	,	,	PUNCT
cblr-1707	833	20	the	the	DET
cblr-1707	833	21	government	government	NOUN
cblr-1707	833	22	seeks	seek	VERB
cblr-1707	833	23	to	to	PART
cblr-1707	833	24	charge	charge	VERB
cblr-1707	833	25	each	each	DET
cblr-1707	833	26	bank	bank	NOUN
cblr-1707	833	27	the	the	DET
cblr-1707	833	28	difference	difference	NOUN
cblr-1707	833	29	between	between	ADP
cblr-1707	833	30	its	its	PRON
cblr-1707	833	31	fair	fair	ADJ
cblr-1707	833	32	cost	cost	NOUN
cblr-1707	833	33	of	of	ADP
cblr-1707	833	34	long	long	ADJ
cblr-1707	833	35	-	-	PUNCT
cblr-1707	833	36	term	term	NOUN
cblr-1707	833	37	debt	debt	NOUN
cblr-1707	833	38	financing	financing	NOUN
cblr-1707	833	39	and	and	CCONJ
cblr-1707	833	40	its	its	PRON
cblr-1707	833	41	actual	actual	ADJ
cblr-1707	833	42	cost	cost	NOUN
cblr-1707	833	43	of	of	ADP
cblr-1707	833	44	deposit	deposit	NOUN
cblr-1707	833	45	funding	funding	NOUN
cblr-1707	833	46	.	.	PUNCT
cblr-1707	834	1	this	this	DET
cblr-1707	834	2	payment	payment	NOUN
cblr-1707	834	3	equates	equate	VERB
cblr-1707	834	4	to	to	ADP
cblr-1707	834	5	rf	rf	NOUN
cblr-1707	834	6	+	+	CCONJ
cblr-1707	834	7	p	p	X
cblr-1707	834	8	–	–	PUNCT
cblr-1707	834	9	d	d	NOUN
cblr-1707	834	10	,	,	PUNCT
cblr-1707	834	11	where	where	SCONJ
cblr-1707	834	12	d	d	NOUN
cblr-1707	834	13	is	be	AUX
cblr-1707	834	14	the	the	DET
cblr-1707	834	15	administered	administered	ADJ
cblr-1707	834	16	deposit	deposit	NOUN
cblr-1707	834	17	rate	rate	NOUN
cblr-1707	834	18	.	.	PUNCT
cblr-1707	835	1	rf	rf	PRON
cblr-1707	835	2	is	be	AUX
cblr-1707	835	3	observable	observable	ADJ
cblr-1707	835	4	(	(	PUNCT
cblr-1707	835	5	the	the	DET
cblr-1707	835	6	u.s	u.s	PROPN
cblr-1707	835	7	.	.	PROPN
cblr-1707	835	8	treasury	treasury	PROPN
cblr-1707	835	9	yield	yield	NOUN
cblr-1707	835	10	corresponding	correspond	VERB
cblr-1707	835	11	to	to	ADP
cblr-1707	835	12	the	the	DET
cblr-1707	835	13	bank	bank	NOUN
cblr-1707	835	14	’s	’s	PART
cblr-1707	835	15	asset	asset	PROPN
cblr-1707	835	16	portfolio	portfolio	NOUN
cblr-1707	835	17	duration	duration	NOUN
cblr-1707	835	18	)	)	PUNCT
cblr-1707	836	1	and	and	CCONJ
cblr-1707	836	2	d	d	PROPN
cblr-1707	836	3	is	be	AUX
cblr-1707	836	4	determined	determine	VERB
cblr-1707	836	5	administratively	administratively	ADV
cblr-1707	836	6	,	,	PUNCT
cblr-1707	836	7	so	so	SCONJ
cblr-1707	836	8	the	the	DET
cblr-1707	836	9	valuation	valuation	NOUN
cblr-1707	836	10	exercise	exercise	NOUN
cblr-1707	836	11	consists	consist	VERB
cblr-1707	836	12	of	of	ADP
cblr-1707	836	13	estimating	estimate	VERB
cblr-1707	836	14	p.	p.	NOUN
cblr-1707	836	15	this	this	PRON
cblr-1707	836	16	is	be	AUX
cblr-1707	836	17	isomorphic	isomorphic	ADJ
cblr-1707	836	18	to	to	PART
cblr-1707	836	19	deposit	deposit	VERB
cblr-1707	836	20	insurance	insurance	NOUN
cblr-1707	836	21	.	.	PUNCT
cblr-1707	837	1	the	the	DET
cblr-1707	837	2	only	only	ADJ
cblr-1707	837	3	difference	difference	NOUN
cblr-1707	837	4	is	be	AUX
cblr-1707	837	5	that	that	SCONJ
cblr-1707	837	6	the	the	DET
cblr-1707	837	7	government	government	NOUN
cblr-1707	837	8	now	now	ADV
cblr-1707	837	9	receives	receive	VERB
cblr-1707	837	10	expected	expect	VERB
cblr-1707	837	11	net	net	ADJ
cblr-1707	837	12	revenue	revenue	NOUN
cblr-1707	837	13	of	of	ADP
cblr-1707	837	14	rf	rf	NUM
cblr-1707	837	15	–	–	PUNCT
cblr-1707	837	16	d.135	d.135	VERB
cblr-1707	837	17	this	this	DET
cblr-1707	837	18	amounts	amount	VERB
cblr-1707	837	19	to	to	ADP
cblr-1707	837	20	seigniorage	seigniorage	NOUN
cblr-1707	837	21	;	;	PUNCT
cblr-1707	837	22	it	it	PRON
cblr-1707	837	23	is	be	AUX
cblr-1707	837	24	value	value	NOUN
cblr-1707	837	25	that	that	PRON
cblr-1707	837	26	would	would	AUX
cblr-1707	837	27	be	be	AUX
cblr-1707	837	28	expected	expect	VERB
cblr-1707	837	29	to	to	PART
cblr-1707	837	30	accrue	accrue	VERB
cblr-1707	837	31	to	to	ADP
cblr-1707	837	32	the	the	DET
cblr-1707	837	33	government	government	NOUN
cblr-1707	837	34	in	in	ADP
cblr-1707	837	35	the	the	DET
cblr-1707	837	36	hypothetical	hypothetical	ADJ
cblr-1707	837	37	demsetz	demsetz	NOUN
cblr-1707	837	38	auction	auction	NOUN
cblr-1707	837	39	(	(	PUNCT
cblr-1707	837	40	equivalently	equivalently	ADV
cblr-1707	837	41	,	,	PUNCT
cblr-1707	837	42	it	it	PRON
cblr-1707	837	43	is	be	AUX
cblr-1707	837	44	value	value	NOUN
cblr-1707	837	45	that	that	PRON
cblr-1707	837	46	would	would	AUX
cblr-1707	837	47	accrue	accrue	VERB
cblr-1707	837	48	to	to	ADP
cblr-1707	837	49	the	the	DET
cblr-1707	837	50	government	government	NOUN
cblr-1707	837	51	in	in	ADP
cblr-1707	837	52	the	the	DET
cblr-1707	837	53	fully	fully	ADV
cblr-1707	837	54	insourced	insource	VERB
cblr-1707	837	55	system	system	NOUN
cblr-1707	837	56	)	)	PUNCT
cblr-1707	837	57	.	.	PUNCT
cblr-1707	838	1	second	second	ADJ
cblr-1707	838	2	,	,	PUNCT
cblr-1707	838	3	this	this	DET
cblr-1707	838	4	type	type	NOUN
cblr-1707	838	5	of	of	ADP
cblr-1707	838	6	valuation	valuation	NOUN
cblr-1707	838	7	exercise	exercise	NOUN
cblr-1707	838	8	is	be	AUX
cblr-1707	838	9	the	the	DET
cblr-1707	838	10	central	central	ADJ
cblr-1707	838	11	,	,	PUNCT
cblr-1707	838	12	archetypal	archetypal	ADJ
cblr-1707	838	13	practice	practice	NOUN
cblr-1707	838	14	of	of	ADP
cblr-1707	838	15	infrastructure	infrastructure	NOUN
cblr-1707	838	16	regulation	regulation	NOUN
cblr-1707	838	17	.	.	PUNCT
cblr-1707	839	1	infrastructure	infrastructure	NOUN
cblr-1707	839	2	ratemaking	ratemaking	NOUN
cblr-1707	839	3	asks	ask	VERB
cblr-1707	839	4	regulatory	regulatory	ADJ
cblr-1707	839	5	commissions	commission	NOUN
cblr-1707	839	6	to	to	PART
cblr-1707	839	7	set	set	VERB
cblr-1707	839	8	regulated	regulated	ADJ
cblr-1707	839	9	firms	firm	NOUN
cblr-1707	839	10	’	’	PART
cblr-1707	839	11	product	product	NOUN
cblr-1707	839	12	rates	rate	NOUN
cblr-1707	839	13	with	with	ADP
cblr-1707	839	14	a	a	DET
cblr-1707	839	15	view	view	NOUN
cblr-1707	839	16	toward	toward	ADP
cblr-1707	839	17	generating	generate	VERB
cblr-1707	839	18	a	a	DET
cblr-1707	839	19	fair	fair	ADJ
cblr-1707	839	20	rate	rate	NOUN
cblr-1707	839	21	of	of	ADP
cblr-1707	839	22	return	return	NOUN
cblr-1707	839	23	on	on	ADP
cblr-1707	839	24	invested	invest	VERB
cblr-1707	839	25	capital.136	capital.136	PROPN
cblr-1707	839	26	“	"	PUNCT
cblr-1707	839	27	specify[ing	specify[e	VERB
cblr-1707	839	28	]	]	PUNCT
cblr-1707	839	29	the	the	DET
cblr-1707	839	30	rate	rate	NOUN
cblr-1707	839	31	of	of	ADP
cblr-1707	839	32	return	return	NOUN
cblr-1707	839	33	.	.	PUNCT
cblr-1707	839	34	.	.	PUNCT
cblr-1707	840	1	.	.	PUNCT
cblr-1707	841	1	occupies	occupy	VERB
cblr-1707	841	2	much	much	ADJ
cblr-1707	841	3	of	of	ADP
cblr-1707	841	4	the	the	DET
cblr-1707	841	5	agenda	agenda	NOUN
cblr-1707	841	6	of	of	ADP
cblr-1707	841	7	modern	modern	ADJ
cblr-1707	841	8	134	134	NUM
cblr-1707	841	9	economically	economically	ADV
cblr-1707	841	10	,	,	PUNCT
cblr-1707	841	11	this	this	DET
cblr-1707	841	12	fee	fee	NOUN
cblr-1707	841	13	can	can	AUX
cblr-1707	841	14	be	be	AUX
cblr-1707	841	15	represented	represent	VERB
cblr-1707	841	16	as	as	ADP
cblr-1707	841	17	the	the	DET
cblr-1707	841	18	premium	premium	NOUN
cblr-1707	841	19	on	on	ADP
cblr-1707	841	20	a	a	DET
cblr-1707	841	21	put	put	NOUN
cblr-1707	841	22	option	option	NOUN
cblr-1707	841	23	written	write	VERB
cblr-1707	841	24	on	on	ADP
cblr-1707	841	25	the	the	DET
cblr-1707	841	26	bank	bank	NOUN
cblr-1707	841	27	’s	’s	PART
cblr-1707	841	28	portfolio	portfolio	NOUN
cblr-1707	841	29	,	,	PUNCT
cblr-1707	841	30	struck	strike	VERB
cblr-1707	841	31	at	at	ADP
cblr-1707	841	32	the	the	DET
cblr-1707	841	33	face	face	NOUN
cblr-1707	841	34	value	value	NOUN
cblr-1707	841	35	of	of	ADP
cblr-1707	841	36	the	the	DET
cblr-1707	841	37	bank	bank	NOUN
cblr-1707	841	38	’s	’s	PART
cblr-1707	841	39	insured	insure	VERB
cblr-1707	841	40	deposits	deposit	NOUN
cblr-1707	841	41	.	.	PUNCT
cblr-1707	842	1	see	see	VERB
cblr-1707	842	2	robert	robert	PROPN
cblr-1707	842	3	c.	c.	PROPN
cblr-1707	842	4	merton	merton	PROPN
cblr-1707	842	5	,	,	PUNCT
cblr-1707	842	6	an	an	DET
cblr-1707	842	7	analytic	analytic	ADJ
cblr-1707	842	8	derivation	derivation	NOUN
cblr-1707	842	9	of	of	ADP
cblr-1707	842	10	the	the	DET
cblr-1707	842	11	cost	cost	NOUN
cblr-1707	842	12	of	of	ADP
cblr-1707	842	13	deposit	deposit	NOUN
cblr-1707	842	14	insurance	insurance	NOUN
cblr-1707	842	15	and	and	CCONJ
cblr-1707	842	16	loan	loan	NOUN
cblr-1707	842	17	guarantees	guarantee	NOUN
cblr-1707	842	18	:	:	PUNCT
cblr-1707	842	19	an	an	DET
cblr-1707	842	20	application	application	NOUN
cblr-1707	842	21	of	of	ADP
cblr-1707	842	22	modern	modern	ADJ
cblr-1707	842	23	option	option	NOUN
cblr-1707	842	24	pricing	pricing	NOUN
cblr-1707	842	25	theory	theory	NOUN
cblr-1707	842	26	,	,	PUNCT
cblr-1707	842	27	1	1	NUM
cblr-1707	842	28	j.	j.	PROPN
cblr-1707	842	29	banking	banking	PROPN
cblr-1707	842	30	&	&	CCONJ
cblr-1707	842	31	fin	fin	PROPN
cblr-1707	842	32	.	.	PUNCT
cblr-1707	843	1	3	3	NUM
cblr-1707	843	2	,	,	PUNCT
cblr-1707	843	3	4	4	NUM
cblr-1707	843	4	(	(	PUNCT
cblr-1707	843	5	1977	1977	NUM
cblr-1707	843	6	)	)	PUNCT
cblr-1707	843	7	.	.	PUNCT
cblr-1707	844	1	135	135	NUM
cblr-1707	844	2	if	if	SCONJ
cblr-1707	844	3	p	p	NOUN
cblr-1707	844	4	is	be	AUX
cblr-1707	844	5	priced	price	VERB
cblr-1707	844	6	correctly	correctly	ADV
cblr-1707	844	7	,	,	PUNCT
cblr-1707	844	8	it	it	PRON
cblr-1707	844	9	is	be	AUX
cblr-1707	844	10	exactly	exactly	ADV
cblr-1707	844	11	offset	offset	VERB
cblr-1707	844	12	by	by	ADP
cblr-1707	844	13	expected	expect	VERB
cblr-1707	844	14	losses	loss	NOUN
cblr-1707	844	15	over	over	ADP
cblr-1707	844	16	time	time	NOUN
cblr-1707	844	17	.	.	PUNCT
cblr-1707	845	1	136	136	NUM
cblr-1707	845	2	see	see	VERB
cblr-1707	845	3	stephen	stephen	PROPN
cblr-1707	845	4	breyer	breyer	PROPN
cblr-1707	845	5	,	,	PUNCT
cblr-1707	845	6	regulation	regulation	NOUN
cblr-1707	845	7	and	and	CCONJ
cblr-1707	845	8	its	its	PRON
cblr-1707	845	9	reform	reform	NOUN
cblr-1707	845	10	36–59	36–59	PROPN
cblr-1707	845	11	(	(	PUNCT
cblr-1707	845	12	1982	1982	NUM
cblr-1707	845	13	)	)	PUNCT
cblr-1707	845	14	;	;	PUNCT
cblr-1707	845	15	richard	richard	PROPN
cblr-1707	845	16	j.	j.	PROPN
cblr-1707	845	17	pierce	pierce	PROPN
cblr-1707	845	18	,	,	PUNCT
cblr-1707	845	19	jr	jr	PROPN
cblr-1707	845	20	.	.	PROPN
cblr-1707	845	21	&	&	CCONJ
cblr-1707	845	22	ernest	ernest	PROPN
cblr-1707	845	23	gellhorn	gellhorn	VERB
cblr-1707	845	24	,	,	PUNCT
cblr-1707	845	25	regulated	regulated	ADJ
cblr-1707	845	26	industries	industry	NOUN
cblr-1707	845	27	in	in	ADP
cblr-1707	845	28	a	a	DET
cblr-1707	845	29	nutshell	nutshell	ADJ
cblr-1707	845	30	94–98	94–98	NUM
cblr-1707	845	31	(	(	PUNCT
cblr-1707	845	32	1999	1999	NUM
cblr-1707	845	33	)	)	PUNCT
cblr-1707	845	34	.	.	PUNCT
cblr-1707	846	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	846	2	no	no	NOUN
cblr-1707	846	3	.	.	PUNCT
cblr-1707	847	1	3:757	3:757	NUM
cblr-1707	847	2	]	]	X
cblr-1707	847	3	money	money	NOUN
cblr-1707	847	4	as	as	ADP
cblr-1707	847	5	infrastructure	infrastructure	NOUN
cblr-1707	847	6	805	805	NUM
cblr-1707	847	7	commissions	commission	NOUN
cblr-1707	847	8	[	[	X
cblr-1707	847	9	,	,	PUNCT
cblr-1707	847	10	]	]	X
cblr-1707	847	11	”	"	PUNCT
cblr-1707	847	12	notes	note	VERB
cblr-1707	847	13	now	now	ADV
cblr-1707	847	14	-	-	PUNCT
cblr-1707	847	15	justice	justice	NOUN
cblr-1707	847	16	stephen	stephen	PROPN
cblr-1707	847	17	breyer.137	breyer.137	PROPN
cblr-1707	847	18	the	the	DET
cblr-1707	847	19	exercise	exercise	NOUN
cblr-1707	847	20	is	be	AUX
cblr-1707	847	21	precisely	precisely	ADV
cblr-1707	847	22	equivalent	equivalent	ADJ
cblr-1707	847	23	to	to	ADP
cblr-1707	847	24	estimating	estimate	VERB
cblr-1707	847	25	p	p	NOUN
cblr-1707	847	26	above	above	ADV
cblr-1707	847	27	.	.	PUNCT
cblr-1707	848	1	the	the	DET
cblr-1707	848	2	goal	goal	NOUN
cblr-1707	848	3	in	in	ADP
cblr-1707	848	4	each	each	DET
cblr-1707	848	5	case	case	NOUN
cblr-1707	848	6	is	be	AUX
cblr-1707	848	7	to	to	PART
cblr-1707	848	8	set	set	VERB
cblr-1707	848	9	a	a	DET
cblr-1707	848	10	rate	rate	NOUN
cblr-1707	848	11	of	of	ADP
cblr-1707	848	12	return	return	NOUN
cblr-1707	848	13	commensurate	commensurate	ADJ
cblr-1707	848	14	with	with	ADP
cblr-1707	848	15	risk	risk	NOUN
cblr-1707	848	16	.	.	PUNCT
cblr-1707	849	1	as	as	ADP
cblr-1707	849	2	with	with	ADP
cblr-1707	849	3	deposit	deposit	NOUN
cblr-1707	849	4	insurance	insurance	NOUN
cblr-1707	849	5	,	,	PUNCT
cblr-1707	849	6	the	the	DET
cblr-1707	849	7	methods	method	NOUN
cblr-1707	849	8	are	be	AUX
cblr-1707	849	9	inexact	inexact	ADJ
cblr-1707	849	10	,	,	PUNCT
cblr-1707	849	11	but	but	CCONJ
cblr-1707	849	12	perfection	perfection	NOUN
cblr-1707	849	13	is	be	AUX
cblr-1707	849	14	not	not	PART
cblr-1707	849	15	the	the	DET
cblr-1707	849	16	relevant	relevant	ADJ
cblr-1707	849	17	standard	standard	NOUN
cblr-1707	849	18	.	.	PUNCT
cblr-1707	850	1	“	"	PUNCT
cblr-1707	850	2	[	[	X
cblr-1707	850	3	s]etting	s]ette	VERB
cblr-1707	850	4	a	a	DET
cblr-1707	850	5	rate	rate	NOUN
cblr-1707	850	6	of	of	ADP
cblr-1707	850	7	return	return	NOUN
cblr-1707	850	8	cannot	cannot	ADV
cblr-1707	850	9	—	—	PUNCT
cblr-1707	850	10	even	even	ADV
cblr-1707	850	11	in	in	ADP
cblr-1707	850	12	principle	principle	NOUN
cblr-1707	850	13	—	—	PUNCT
cblr-1707	850	14	be	be	AUX
cblr-1707	850	15	reduced	reduce	VERB
cblr-1707	850	16	to	to	ADP
cblr-1707	850	17	an	an	DET
cblr-1707	850	18	exact	exact	ADJ
cblr-1707	850	19	science	science	NOUN
cblr-1707	850	20	,	,	PUNCT
cblr-1707	850	21	”	"	PUNCT
cblr-1707	850	22	breyer	breyer	NOUN
cblr-1707	850	23	observes.138	observes.138	NOUN
cblr-1707	850	24	“	"	PUNCT
cblr-1707	850	25	to	to	PART
cblr-1707	850	26	spend	spend	VERB
cblr-1707	850	27	hours	hour	NOUN
cblr-1707	850	28	of	of	ADP
cblr-1707	850	29	hearing	hearing	NOUN
cblr-1707	850	30	time	time	NOUN
cblr-1707	850	31	considering	consider	VERB
cblr-1707	850	32	elaborate	elaborate	ADJ
cblr-1707	850	33	rate	rate	NOUN
cblr-1707	850	34	-	-	PUNCT
cblr-1707	850	35	of	of	ADP
cblr-1707	850	36	-	-	PUNCT
cblr-1707	850	37	return	return	NOUN
cblr-1707	850	38	models	model	NOUN
cblr-1707	850	39	is	be	AUX
cblr-1707	850	40	of	of	ADP
cblr-1707	850	41	doubtful	doubtful	ADJ
cblr-1707	850	42	value	value	NOUN
cblr-1707	850	43	,	,	PUNCT
cblr-1707	850	44	and	and	CCONJ
cblr-1707	850	45	suggestions	suggestion	NOUN
cblr-1707	850	46	of	of	ADP
cblr-1707	850	47	a	a	DET
cblr-1707	850	48	proper	proper	ADJ
cblr-1707	850	49	rate	rate	NOUN
cblr-1707	850	50	,	,	PUNCT
cblr-1707	850	51	carried	carry	VERB
cblr-1707	850	52	out	out	ADP
cblr-1707	850	53	to	to	ADP
cblr-1707	850	54	several	several	ADJ
cblr-1707	850	55	decimal	decimal	ADJ
cblr-1707	850	56	places	place	NOUN
cblr-1707	850	57	,	,	PUNCT
cblr-1707	850	58	give	give	VERB
cblr-1707	850	59	an	an	DET
cblr-1707	850	60	air	air	NOUN
cblr-1707	850	61	of	of	ADP
cblr-1707	850	62	precision	precision	NOUN
cblr-1707	850	63	that	that	PRON
cblr-1707	850	64	must	must	AUX
cblr-1707	850	65	be	be	AUX
cblr-1707	850	66	false	false	ADJ
cblr-1707	850	67	.	.	PUNCT
cblr-1707	850	68	”139	”139	PUNCT
cblr-1707	851	1	the	the	DET
cblr-1707	851	2	symmetry	symmetry	NOUN
cblr-1707	851	3	between	between	ADP
cblr-1707	851	4	banking	banking	NOUN
cblr-1707	851	5	-	-	PUNCT
cblr-1707	851	6	as	as	ADP
cblr-1707	851	7	-	-	PUNCT
cblr-1707	851	8	monetary	monetary	ADJ
cblr-1707	851	9	-	-	PUNCT
cblr-1707	851	10	outsourcing	outsourcing	NOUN
cblr-1707	851	11	and	and	CCONJ
cblr-1707	851	12	infrastructure	infrastructure	NOUN
cblr-1707	851	13	ratemaking	ratemaking	NOUN
cblr-1707	851	14	becomes	become	VERB
cblr-1707	851	15	even	even	ADV
cblr-1707	851	16	clearer	clear	ADJ
cblr-1707	851	17	when	when	SCONJ
cblr-1707	851	18	it	it	PRON
cblr-1707	851	19	is	be	AUX
cblr-1707	851	20	recognized	recognize	VERB
cblr-1707	851	21	that	that	SCONJ
cblr-1707	851	22	the	the	DET
cblr-1707	851	23	two	two	NUM
cblr-1707	851	24	systems	system	NOUN
cblr-1707	851	25	give	give	VERB
cblr-1707	851	26	rise	rise	NOUN
cblr-1707	851	27	to	to	ADP
cblr-1707	851	28	identical	identical	ADJ
cblr-1707	851	29	incentive	incentive	NOUN
cblr-1707	851	30	problems	problem	NOUN
cblr-1707	851	31	on	on	ADP
cblr-1707	851	32	the	the	DET
cblr-1707	851	33	part	part	NOUN
cblr-1707	851	34	of	of	ADP
cblr-1707	851	35	regulated	regulated	ADJ
cblr-1707	851	36	firms	firm	NOUN
cblr-1707	851	37	.	.	PUNCT
cblr-1707	852	1	with	with	ADP
cblr-1707	852	2	monetary	monetary	ADJ
cblr-1707	852	3	outsourcing	outsourcing	NOUN
cblr-1707	852	4	,	,	PUNCT
cblr-1707	852	5	bank	bank	NOUN
cblr-1707	852	6	equity	equity	NOUN
cblr-1707	852	7	owners	owner	NOUN
cblr-1707	852	8	and	and	CCONJ
cblr-1707	852	9	management	management	NOUN
cblr-1707	852	10	can	can	AUX
cblr-1707	852	11	profit	profit	VERB
cblr-1707	852	12	by	by	ADP
cblr-1707	852	13	ramping	ramp	VERB
cblr-1707	852	14	up	up	ADP
cblr-1707	852	15	portfolio	portfolio	NOUN
cblr-1707	852	16	risk	risk	NOUN
cblr-1707	852	17	and/or	and/or	CCONJ
cblr-1707	852	18	increasing	increase	VERB
cblr-1707	852	19	leverage	leverage	NOUN
cblr-1707	852	20	.	.	PUNCT
cblr-1707	853	1	this	this	DET
cblr-1707	853	2	moral	moral	ADJ
cblr-1707	853	3	hazard	hazard	NOUN
cblr-1707	853	4	incentive	incentive	NOUN
cblr-1707	853	5	—	—	PUNCT
cblr-1707	853	6	a	a	DET
cblr-1707	853	7	product	product	NOUN
cblr-1707	853	8	of	of	ADP
cblr-1707	853	9	asymmetric	asymmetric	ADJ
cblr-1707	853	10	information	information	NOUN
cblr-1707	853	11	between	between	ADP
cblr-1707	853	12	bank	bank	NOUN
cblr-1707	853	13	management	management	NOUN
cblr-1707	853	14	and	and	CCONJ
cblr-1707	853	15	regulators	regulator	NOUN
cblr-1707	853	16	—	—	PUNCT
cblr-1707	853	17	is	be	AUX
cblr-1707	853	18	universally	universally	ADV
cblr-1707	853	19	regarded	regard	VERB
cblr-1707	853	20	as	as	ADP
cblr-1707	853	21	the	the	DET
cblr-1707	853	22	central	central	ADJ
cblr-1707	853	23	problem	problem	NOUN
cblr-1707	853	24	of	of	ADP
cblr-1707	853	25	deposit	deposit	NOUN
cblr-1707	853	26	insurance.140	insurance.140	ADJ
cblr-1707	853	27	notably	notably	ADV
cblr-1707	853	28	,	,	PUNCT
cblr-1707	853	29	infrastructure	infrastructure	NOUN
cblr-1707	853	30	regulators	regulator	NOUN
cblr-1707	853	31	face	face	VERB
cblr-1707	853	32	analogous	analogous	ADJ
cblr-1707	853	33	problems	problem	NOUN
cblr-1707	853	34	.	.	PUNCT
cblr-1707	854	1	if	if	SCONJ
cblr-1707	854	2	allowed	allow	VERB
cblr-1707	854	3	rates	rate	NOUN
cblr-1707	854	4	of	of	ADP
cblr-1707	854	5	return	return	NOUN
cblr-1707	854	6	are	be	AUX
cblr-1707	854	7	too	too	ADV
cblr-1707	854	8	high	high	ADJ
cblr-1707	854	9	,	,	PUNCT
cblr-1707	854	10	regulated	regulated	ADJ
cblr-1707	854	11	firms	firm	NOUN
cblr-1707	854	12	have	have	VERB
cblr-1707	854	13	an	an	DET
cblr-1707	854	14	incentive	incentive	NOUN
cblr-1707	854	15	to	to	PART
cblr-1707	854	16	overinvest	overinvest	VERB
cblr-1707	854	17	,	,	PUNCT
cblr-1707	854	18	expanding	expand	VERB
cblr-1707	854	19	the	the	DET
cblr-1707	854	20	rate	rate	NOUN
cblr-1707	854	21	base	base	NOUN
cblr-1707	854	22	(	(	PUNCT
cblr-1707	854	23	“	"	PUNCT
cblr-1707	854	24	gold	gold	ADJ
cblr-1707	854	25	plating”).141	plating”).141	NOUN
cblr-1707	854	26	and	and	CCONJ
cblr-1707	854	27	when	when	SCONJ
cblr-1707	854	28	firms	firm	NOUN
cblr-1707	854	29	are	be	AUX
cblr-1707	854	30	assured	assure	VERB
cblr-1707	854	31	of	of	ADP
cblr-1707	854	32	being	be	AUX
cblr-1707	854	33	compensated	compensate	VERB
cblr-1707	854	34	for	for	ADP
cblr-1707	854	35	actual	actual	ADJ
cblr-1707	854	36	costs	cost	NOUN
cblr-1707	854	37	of	of	ADP
cblr-1707	854	38	production	production	NOUN
cblr-1707	854	39	,	,	PUNCT
cblr-1707	854	40	their	their	PRON
cblr-1707	854	41	incentives	incentive	NOUN
cblr-1707	854	42	to	to	PART
cblr-1707	854	43	keep	keep	VERB
cblr-1707	854	44	costs	cost	NOUN
cblr-1707	854	45	down	down	ADP
cblr-1707	854	46	are	be	AUX
cblr-1707	854	47	muted	mute	VERB
cblr-1707	854	48	.	.	PUNCT
cblr-1707	855	1	“	"	PUNCT
cblr-1707	855	2	[	[	X
cblr-1707	855	3	t]he	t]he	ADV
cblr-1707	855	4	regulated	regulated	ADJ
cblr-1707	855	5	firm	firm	NOUN
cblr-1707	855	6	may	may	AUX
cblr-1707	855	7	use	use	VERB
cblr-1707	855	8	its	its	PRON
cblr-1707	855	9	information	information	NOUN
cblr-1707	855	10	advantage	advantage	NOUN
cblr-1707	855	11	(	(	PUNCT
cblr-1707	855	12	asymmetric	asymmetric	ADJ
cblr-1707	855	13	information	information	NOUN
cblr-1707	855	14	)	)	PUNCT
cblr-1707	855	15	strategically	strategically	ADV
cblr-1707	855	16	to	to	PART
cblr-1707	855	17	exploit	exploit	VERB
cblr-1707	855	18	the	the	DET
cblr-1707	855	19	regulatory	regulatory	ADJ
cblr-1707	855	20	process	process	NOUN
cblr-1707	855	21	to	to	PART
cblr-1707	855	22	increase	increase	VERB
cblr-1707	855	23	its	its	PRON
cblr-1707	855	24	137	137	NUM
cblr-1707	855	25	breyer	breyer	NOUN
cblr-1707	855	26	,	,	PUNCT
cblr-1707	855	27	supra	supra	PROPN
cblr-1707	855	28	note	note	NOUN
cblr-1707	855	29	136	136	NUM
cblr-1707	855	30	,	,	PUNCT
cblr-1707	855	31	at	at	ADP
cblr-1707	855	32	40	40	NUM
cblr-1707	855	33	.	.	PUNCT
cblr-1707	856	1	138	138	NUM
cblr-1707	857	1	i	i	PRON
cblr-1707	857	2	d.	d.	PROPN
cblr-1707	857	3	at	at	ADP
cblr-1707	857	4	47	47	NUM
cblr-1707	857	5	.	.	PUNCT
cblr-1707	858	1	139	139	NUM
cblr-1707	859	1	i	i	PRON
cblr-1707	859	2	d.	d.	PROPN
cblr-1707	859	3	;	;	PUNCT
cblr-1707	859	4	cf	cf	X
cblr-1707	859	5	.	.	PUNCT
cblr-1707	860	1	fischer	fischer	PROPN
cblr-1707	860	2	black	black	PROPN
cblr-1707	860	3	,	,	PUNCT
cblr-1707	860	4	merton	merton	PROPN
cblr-1707	860	5	h.	h.	PROPN
cblr-1707	860	6	miller	miller	PROPN
cblr-1707	860	7	&	&	CCONJ
cblr-1707	860	8	richard	richard	PROPN
cblr-1707	860	9	a.	a.	PROPN
cblr-1707	860	10	posner	posner	PROPN
cblr-1707	860	11	,	,	PUNCT
cblr-1707	860	12	an	an	DET
cblr-1707	860	13	approach	approach	NOUN
cblr-1707	860	14	to	to	ADP
cblr-1707	860	15	the	the	DET
cblr-1707	860	16	regulation	regulation	NOUN
cblr-1707	860	17	of	of	ADP
cblr-1707	860	18	bank	bank	NOUN
cblr-1707	860	19	holding	hold	VERB
cblr-1707	860	20	companies	company	NOUN
cblr-1707	860	21	,	,	PUNCT
cblr-1707	860	22	51	51	NUM
cblr-1707	860	23	j.	j.	PROPN
cblr-1707	860	24	bus	bus	PROPN
cblr-1707	860	25	.	.	PUNCT
cblr-1707	861	1	379	379	NUM
cblr-1707	861	2	,	,	PUNCT
cblr-1707	861	3	387	387	NUM
cblr-1707	861	4	(	(	PUNCT
cblr-1707	861	5	1978	1978	NUM
cblr-1707	861	6	)	)	PUNCT
cblr-1707	861	7	(	(	PUNCT
cblr-1707	861	8	defending	defend	VERB
cblr-1707	861	9	risk	risk	NOUN
cblr-1707	861	10	-	-	PUNCT
cblr-1707	861	11	based	base	VERB
cblr-1707	861	12	deposit	deposit	NOUN
cblr-1707	861	13	insurance	insurance	NOUN
cblr-1707	861	14	fees	fee	NOUN
cblr-1707	861	15	and	and	CCONJ
cblr-1707	861	16	noting	note	VERB
cblr-1707	861	17	that	that	SCONJ
cblr-1707	861	18	“	"	PUNCT
cblr-1707	861	19	any	any	DET
cblr-1707	861	20	system	system	NOUN
cblr-1707	861	21	of	of	ADP
cblr-1707	861	22	estimating	estimate	VERB
cblr-1707	861	23	risk	risk	NOUN
cblr-1707	861	24	will	will	AUX
cblr-1707	861	25	have	have	VERB
cblr-1707	861	26	arbitrary	arbitrary	ADJ
cblr-1707	861	27	elements	element	NOUN
cblr-1707	861	28	in	in	ADP
cblr-1707	861	29	it	it	PRON
cblr-1707	861	30	.	.	PUNCT
cblr-1707	861	31	”	"	PUNCT
cblr-1707	861	32	)	)	PUNCT
cblr-1707	861	33	.	.	PUNCT
cblr-1707	862	1	140	140	NUM
cblr-1707	862	2	carnell	carnell	PROPN
cblr-1707	862	3	et	et	PROPN
cblr-1707	862	4	al	al	PROPN
cblr-1707	862	5	.	.	PROPN
cblr-1707	862	6	,	,	PUNCT
cblr-1707	862	7	supra	supra	PROPN
cblr-1707	862	8	note	note	NOUN
cblr-1707	862	9	4	4	NUM
cblr-1707	862	10	,	,	PUNCT
cblr-1707	862	11	at	at	ADP
cblr-1707	862	12	223	223	NUM
cblr-1707	862	13	.	.	PUNCT
cblr-1707	863	1	141	141	NUM
cblr-1707	863	2	this	this	PRON
cblr-1707	863	3	is	be	AUX
cblr-1707	863	4	the	the	DET
cblr-1707	863	5	so	so	ADV
cblr-1707	863	6	-	-	PUNCT
cblr-1707	863	7	called	call	VERB
cblr-1707	863	8	averch	averch	NOUN
cblr-1707	863	9	-	-	PUNCT
cblr-1707	863	10	johnson	johnson	PROPN
cblr-1707	863	11	(	(	PUNCT
cblr-1707	863	12	aj	aj	PROPN
cblr-1707	863	13	)	)	PUNCT
cblr-1707	863	14	effect	effect	NOUN
cblr-1707	863	15	.	.	PUNCT
cblr-1707	864	1	see	see	VERB
cblr-1707	864	2	harvey	harvey	PROPN
cblr-1707	864	3	averch	averch	PROPN
cblr-1707	864	4	&	&	CCONJ
cblr-1707	864	5	leland	leland	PROPN
cblr-1707	864	6	l.	l.	PROPN
cblr-1707	864	7	johnson	johnson	PROPN
cblr-1707	864	8	,	,	PUNCT
cblr-1707	864	9	behavior	behavior	NOUN
cblr-1707	864	10	of	of	ADP
cblr-1707	864	11	the	the	DET
cblr-1707	864	12	firm	firm	NOUN
cblr-1707	864	13	under	under	ADP
cblr-1707	864	14	regulatory	regulatory	ADJ
cblr-1707	864	15	constraint	constraint	NOUN
cblr-1707	864	16	,	,	PUNCT
cblr-1707	864	17	52	52	NUM
cblr-1707	864	18	am	am	NOUN
cblr-1707	864	19	.	.	PUNCT
cblr-1707	865	1	econ	econ	PROPN
cblr-1707	865	2	.	.	PUNCT
cblr-1707	866	1	rev	rev	PROPN
cblr-1707	866	2	.	.	PROPN
cblr-1707	866	3	1052	1052	NUM
cblr-1707	866	4	,	,	PUNCT
cblr-1707	866	5	1068	1068	NUM
cblr-1707	866	6	(	(	PUNCT
cblr-1707	866	7	1962	1962	NUM
cblr-1707	866	8	)	)	PUNCT
cblr-1707	866	9	.	.	PUNCT
cblr-1707	867	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	867	2	806	806	NUM
cblr-1707	867	3	columbia	columbia	PROPN
cblr-1707	867	4	business	business	NOUN
cblr-1707	867	5	law	law	PROPN
cblr-1707	867	6	review	review	NOUN
cblr-1707	867	7	[	[	X
cblr-1707	867	8	vol	vol	NOUN
cblr-1707	867	9	.	.	NOUN
cblr-1707	867	10	2018	2018	NUM
cblr-1707	867	11	profits	profit	NOUN
cblr-1707	867	12	.	.	PUNCT
cblr-1707	867	13	.	.	PUNCT
cblr-1707	867	14	.	.	PUNCT
cblr-1707	867	15	.	.	PUNCT
cblr-1707	868	1	this	this	PRON
cblr-1707	868	2	creates	create	VERB
cblr-1707	868	3	a	a	DET
cblr-1707	868	4	potential	potential	ADJ
cblr-1707	868	5	moral	moral	ADJ
cblr-1707	868	6	hazard	hazard	NOUN
cblr-1707	868	7	,	,	PUNCT
cblr-1707	868	8	”	"	PUNCT
cblr-1707	868	9	notes	note	VERB
cblr-1707	868	10	one	one	NUM
cblr-1707	868	11	expert.142	expert.142	PROPN
cblr-1707	868	12	on	on	ADP
cblr-1707	868	13	top	top	NOUN
cblr-1707	868	14	of	of	ADP
cblr-1707	868	15	that	that	PRON
cblr-1707	868	16	,	,	PUNCT
cblr-1707	868	17	bank	bank	NOUN
cblr-1707	868	18	regulation	regulation	NOUN
cblr-1707	868	19	and	and	CCONJ
cblr-1707	868	20	infrastructure	infrastructure	NOUN
cblr-1707	868	21	regulation	regulation	NOUN
cblr-1707	868	22	employ	employ	VERB
cblr-1707	868	23	similar	similar	ADJ
cblr-1707	868	24	techniques	technique	NOUN
cblr-1707	868	25	to	to	PART
cblr-1707	868	26	deal	deal	VERB
cblr-1707	868	27	with	with	ADP
cblr-1707	868	28	these	these	DET
cblr-1707	868	29	moral	moral	ADJ
cblr-1707	868	30	hazard	hazard	NOUN
cblr-1707	868	31	incentives	incentive	NOUN
cblr-1707	868	32	.	.	PUNCT
cblr-1707	869	1	among	among	ADP
cblr-1707	869	2	other	other	ADJ
cblr-1707	869	3	things	thing	NOUN
cblr-1707	869	4	,	,	PUNCT
cblr-1707	869	5	bank	bank	NOUN
cblr-1707	869	6	regulators	regulator	NOUN
cblr-1707	869	7	impose	impose	VERB
cblr-1707	869	8	prudential	prudential	ADJ
cblr-1707	869	9	portfolio	portfolio	NOUN
cblr-1707	869	10	constraints	constraint	NOUN
cblr-1707	869	11	to	to	PART
cblr-1707	869	12	limit	limit	VERB
cblr-1707	869	13	risk	risk	NOUN
cblr-1707	869	14	-	-	PUNCT
cblr-1707	869	15	taking	taking	NOUN
cblr-1707	869	16	;	;	PUNCT
cblr-1707	869	17	they	they	PRON
cblr-1707	869	18	prohibit	prohibit	VERB
cblr-1707	869	19	insured	insured	ADJ
cblr-1707	869	20	banks	bank	NOUN
cblr-1707	869	21	from	from	ADP
cblr-1707	869	22	owning	own	VERB
cblr-1707	869	23	stock	stock	NOUN
cblr-1707	869	24	and	and	CCONJ
cblr-1707	869	25	junk	junk	NOUN
cblr-1707	869	26	bonds	bond	NOUN
cblr-1707	869	27	,	,	PUNCT
cblr-1707	869	28	for	for	ADP
cblr-1707	869	29	example.143	example.143	NOUN
cblr-1707	869	30	analogously	analogously	ADV
cblr-1707	869	31	,	,	PUNCT
cblr-1707	869	32	public	public	ADJ
cblr-1707	869	33	utility	utility	NOUN
cblr-1707	869	34	regulators	regulator	NOUN
cblr-1707	869	35	disallow	disallow	VERB
cblr-1707	869	36	investments	investment	NOUN
cblr-1707	869	37	that	that	PRON
cblr-1707	869	38	are	be	AUX
cblr-1707	869	39	not	not	PART
cblr-1707	869	40	“	"	PUNCT
cblr-1707	869	41	prudently	prudently	ADV
cblr-1707	869	42	incurred	incur	VERB
cblr-1707	869	43	”	"	PUNCT
cblr-1707	869	44	from	from	ADP
cblr-1707	869	45	inclusion	inclusion	NOUN
cblr-1707	869	46	in	in	ADP
cblr-1707	869	47	the	the	DET
cblr-1707	869	48	rate	rate	NOUN
cblr-1707	869	49	base.144	base.144	ADJ
cblr-1707	869	50	operating	operating	NOUN
cblr-1707	869	51	costs	cost	NOUN
cblr-1707	869	52	may	may	AUX
cblr-1707	869	53	also	also	ADV
cblr-1707	869	54	be	be	AUX
cblr-1707	869	55	disallowed.145	disallowed.145	NOUN
cblr-1707	869	56	these	these	DET
cblr-1707	869	57	tools	tool	NOUN
cblr-1707	869	58	mitigate	mitigate	VERB
cblr-1707	869	59	the	the	DET
cblr-1707	869	60	effects	effect	NOUN
cblr-1707	869	61	of	of	ADP
cblr-1707	869	62	moral	moral	ADJ
cblr-1707	869	63	hazard	hazard	NOUN
cblr-1707	869	64	,	,	PUNCT
cblr-1707	869	65	albeit	albeit	SCONJ
cblr-1707	869	66	imperfectly	imperfectly	ADV
cblr-1707	869	67	.	.	PUNCT
cblr-1707	870	1	to	to	PART
cblr-1707	870	2	summarize	summarize	VERB
cblr-1707	870	3	,	,	PUNCT
cblr-1707	870	4	nothing	nothing	PRON
cblr-1707	870	5	about	about	ADP
cblr-1707	870	6	monetary	monetary	ADJ
cblr-1707	870	7	outsourcing	outsourcing	NOUN
cblr-1707	870	8	implies	imply	VERB
cblr-1707	870	9	that	that	SCONJ
cblr-1707	870	10	monetary	monetary	ADJ
cblr-1707	870	11	authorities	authority	NOUN
cblr-1707	870	12	must	must	AUX
cblr-1707	870	13	relinquish	relinquish	VERB
cblr-1707	870	14	control	control	NOUN
cblr-1707	870	15	over	over	ADP
cblr-1707	870	16	account	account	NOUN
cblr-1707	870	17	-	-	PUNCT
cblr-1707	870	18	money	money	NOUN
cblr-1707	870	19	rates	rate	NOUN
cblr-1707	870	20	.	.	PUNCT
cblr-1707	871	1	on	on	ADP
cblr-1707	871	2	the	the	DET
cblr-1707	871	3	contrary	contrary	NOUN
cblr-1707	871	4	,	,	PUNCT
cblr-1707	871	5	the	the	DET
cblr-1707	871	6	money	money	NOUN
cblr-1707	871	7	paradigm	paradigm	NOUN
cblr-1707	871	8	naturally	naturally	ADV
cblr-1707	871	9	implies	imply	VERB
cblr-1707	871	10	a	a	DET
cblr-1707	871	11	system	system	NOUN
cblr-1707	871	12	in	in	ADP
cblr-1707	871	13	which	which	PRON
cblr-1707	871	14	such	such	ADJ
cblr-1707	871	15	control	control	NOUN
cblr-1707	871	16	is	be	AUX
cblr-1707	871	17	not	not	PART
cblr-1707	871	18	relinquished	relinquish	VERB
cblr-1707	871	19	.	.	PUNCT
cblr-1707	872	1	when	when	SCONJ
cblr-1707	872	2	it	it	PRON
cblr-1707	872	3	comes	come	VERB
cblr-1707	872	4	to	to	ADP
cblr-1707	872	5	monetary	monetary	ADJ
cblr-1707	872	6	policy	policy	NOUN
cblr-1707	872	7	implementation	implementation	NOUN
cblr-1707	872	8	,	,	PUNCT
cblr-1707	872	9	this	this	DET
cblr-1707	872	10	approach	approach	NOUN
cblr-1707	872	11	has	have	VERB
cblr-1707	872	12	obvious	obvious	ADJ
cblr-1707	872	13	advantages	advantage	NOUN
cblr-1707	872	14	over	over	ADP
cblr-1707	872	15	the	the	DET
cblr-1707	872	16	present	present	ADJ
cblr-1707	872	17	system	system	NOUN
cblr-1707	872	18	of	of	ADP
cblr-1707	872	19	administered	administer	VERB
cblr-1707	872	20	central	central	ADJ
cblr-1707	872	21	bank	bank	NOUN
cblr-1707	872	22	rates	rate	NOUN
cblr-1707	872	23	.	.	PUNCT
cblr-1707	873	1	the	the	DET
cblr-1707	873	2	current	current	ADJ
cblr-1707	873	3	system	system	NOUN
cblr-1707	873	4	presents	present	VERB
cblr-1707	873	5	serious	serious	ADJ
cblr-1707	873	6	passthrough	passthrough	NOUN
cblr-1707	873	7	problems	problem	NOUN
cblr-1707	873	8	.	.	PUNCT
cblr-1707	874	1	the	the	DET
cblr-1707	874	2	federal	federal	PROPN
cblr-1707	874	3	reserve	reserve	PROPN
cblr-1707	874	4	today	today	NOUN
cblr-1707	874	5	seeks	seek	VERB
cblr-1707	874	6	to	to	PART
cblr-1707	874	7	influence	influence	VERB
cblr-1707	874	8	market	market	NOUN
cblr-1707	874	9	rates	rate	NOUN
cblr-1707	874	10	by	by	ADP
cblr-1707	874	11	adjusting	adjust	VERB
cblr-1707	874	12	the	the	DET
cblr-1707	874	13	interest	interest	NOUN
cblr-1707	874	14	rate	rate	NOUN
cblr-1707	874	15	on	on	ADP
cblr-1707	874	16	its	its	PRON
cblr-1707	874	17	own	own	ADJ
cblr-1707	874	18	liabilities	liability	NOUN
cblr-1707	874	19	,	,	PUNCT
cblr-1707	874	20	but	but	CCONJ
cblr-1707	874	21	the	the	DET
cblr-1707	874	22	effect	effect	NOUN
cblr-1707	874	23	turns	turn	VERB
cblr-1707	874	24	out	out	ADP
cblr-1707	874	25	to	to	PART
cblr-1707	874	26	be	be	AUX
cblr-1707	874	27	muted	mute	VERB
cblr-1707	874	28	.	.	PUNCT
cblr-1707	875	1	the	the	DET
cblr-1707	875	2	on	on	ADP
cblr-1707	875	3	-	-	PUNCT
cblr-1707	875	4	rrp	rrp	NOUN
cblr-1707	875	5	facility	facility	NOUN
cblr-1707	875	6	is	be	AUX
cblr-1707	875	7	designed	design	VERB
cblr-1707	875	8	,	,	PUNCT
cblr-1707	875	9	in	in	ADP
cblr-1707	875	10	part	part	NOUN
cblr-1707	875	11	,	,	PUNCT
cblr-1707	875	12	to	to	PART
cblr-1707	875	13	deal	deal	VERB
cblr-1707	875	14	with	with	ADP
cblr-1707	875	15	this	this	DET
cblr-1707	875	16	issue	issue	NOUN
cblr-1707	875	17	,	,	PUNCT
cblr-1707	875	18	but	but	CCONJ
cblr-1707	875	19	it	it	PRON
cblr-1707	875	20	raises	raise	VERB
cblr-1707	875	21	problems	problem	NOUN
cblr-1707	875	22	of	of	ADP
cblr-1707	875	23	its	its	PRON
cblr-1707	875	24	own	own	ADJ
cblr-1707	875	25	and	and	CCONJ
cblr-1707	875	26	adds	add	VERB
cblr-1707	875	27	complexity	complexity	NOUN
cblr-1707	875	28	and	and	CCONJ
cblr-1707	875	29	opacity	opacity	NOUN
cblr-1707	875	30	to	to	ADP
cblr-1707	875	31	an	an	DET
cblr-1707	875	32	already	already	ADV
cblr-1707	875	33	immensely	immensely	ADV
cblr-1707	875	34	complicated	complicated	ADJ
cblr-1707	875	35	and	and	CCONJ
cblr-1707	875	36	opaque	opaque	ADJ
cblr-1707	875	37	system	system	NOUN
cblr-1707	875	38	.	.	PUNCT
cblr-1707	876	1	moreover	moreover	ADV
cblr-1707	876	2	,	,	PUNCT
cblr-1707	876	3	the	the	DET
cblr-1707	876	4	current	current	ADJ
cblr-1707	876	5	approach	approach	NOUN
cblr-1707	876	6	raises	raise	VERB
cblr-1707	876	7	distributional	distributional	ADJ
cblr-1707	876	8	concerns	concern	NOUN
cblr-1707	876	9	,	,	PUNCT
cblr-1707	876	10	as	as	SCONJ
cblr-1707	876	11	administered	administer	VERB
cblr-1707	876	12	rates	rate	NOUN
cblr-1707	876	13	accrue	accrue	VERB
cblr-1707	876	14	only	only	ADV
cblr-1707	876	15	to	to	ADP
cblr-1707	876	16	a	a	DET
cblr-1707	876	17	privileged	privileged	ADJ
cblr-1707	876	18	set	set	NOUN
cblr-1707	876	19	of	of	ADP
cblr-1707	876	20	institutions	institution	NOUN
cblr-1707	876	21	.	.	PUNCT
cblr-1707	877	1	establishing	establish	VERB
cblr-1707	877	2	regulatory	regulatory	ADJ
cblr-1707	877	3	controls	control	NOUN
cblr-1707	877	4	over	over	ADP
cblr-1707	877	5	bank	bank	NOUN
cblr-1707	877	6	deposit	deposit	NOUN
cblr-1707	877	7	interest	interest	NOUN
cblr-1707	877	8	rates	rate	NOUN
cblr-1707	877	9	would	would	AUX
cblr-1707	877	10	render	render	VERB
cblr-1707	877	11	these	these	DET
cblr-1707	877	12	problems	problem	NOUN
cblr-1707	877	13	moot	moot	ADJ
cblr-1707	877	14	.	.	PUNCT
cblr-1707	878	1	passthrough	passthrough	NOUN
cblr-1707	878	2	issues	issue	NOUN
cblr-1707	878	3	would	would	AUX
cblr-1707	878	4	evaporate	evaporate	VERB
cblr-1707	878	5	,	,	PUNCT
cblr-1707	878	6	as	as	SCONJ
cblr-1707	878	7	the	the	DET
cblr-1707	878	8	administered	administer	VERB
cblr-1707	878	9	rate	rate	NOUN
cblr-1707	878	10	would	would	AUX
cblr-1707	878	11	accrue	accrue	VERB
cblr-1707	878	12	to	to	ADP
cblr-1707	878	13	all	all	DET
cblr-1707	878	14	holders	holder	NOUN
cblr-1707	878	15	of	of	ADP
cblr-1707	878	16	account	account	NOUN
cblr-1707	878	17	money	money	NOUN
cblr-1707	878	18	.	.	PUNCT
cblr-1707	879	1	no	no	DET
cblr-1707	879	2	set	set	NOUN
cblr-1707	879	3	of	of	ADP
cblr-1707	879	4	institutions	institution	NOUN
cblr-1707	879	5	would	would	AUX
cblr-1707	879	6	have	have	VERB
cblr-1707	879	7	privileged	privileged	ADJ
cblr-1707	879	8	access	access	NOUN
cblr-1707	879	9	to	to	ADP
cblr-1707	879	10	administered	administer	VERB
cblr-1707	879	11	rates	rate	NOUN
cblr-1707	879	12	.	.	PUNCT
cblr-1707	880	1	and	and	CCONJ
cblr-1707	880	2	monetary	monetary	ADJ
cblr-1707	880	3	policy	policy	NOUN
cblr-1707	880	4	142	142	NUM
cblr-1707	880	5	paul	paul	PROPN
cblr-1707	880	6	l.	l.	PROPN
cblr-1707	880	7	joskow	joskow	PROPN
cblr-1707	880	8	,	,	PUNCT
cblr-1707	880	9	incentive	incentive	NOUN
cblr-1707	880	10	regulation	regulation	NOUN
cblr-1707	880	11	and	and	CCONJ
cblr-1707	880	12	its	its	PRON
cblr-1707	880	13	application	application	NOUN
cblr-1707	880	14	to	to	ADP
cblr-1707	880	15	electricity	electricity	NOUN
cblr-1707	880	16	networks	network	NOUN
cblr-1707	880	17	,	,	PUNCT
cblr-1707	880	18	7	7	NUM
cblr-1707	880	19	rev	rev	X
cblr-1707	880	20	.	.	PROPN
cblr-1707	881	1	network	network	PROPN
cblr-1707	881	2	econ	econ	PROPN
cblr-1707	881	3	.	.	PUNCT
cblr-1707	882	1	547	547	NUM
cblr-1707	882	2	,	,	PUNCT
cblr-1707	882	3	550–51	550–51	NUM
cblr-1707	882	4	(	(	PUNCT
cblr-1707	882	5	2008	2008	NUM
cblr-1707	882	6	)	)	PUNCT
cblr-1707	882	7	.	.	PUNCT
cblr-1707	883	1	143	143	NUM
cblr-1707	883	2	see	see	VERB
cblr-1707	883	3	12	12	NUM
cblr-1707	883	4	u.s.c	u.s.c	ADJ
cblr-1707	883	5	.	.	PUNCT
cblr-1707	884	1	§	§	PROPN
cblr-1707	884	2	24(seventh	24(seventh	NUM
cblr-1707	884	3	)	)	PUNCT
cblr-1707	884	4	(	(	PUNCT
cblr-1707	884	5	2012	2012	NUM
cblr-1707	884	6	)	)	PUNCT
cblr-1707	884	7	(	(	PUNCT
cblr-1707	884	8	stocks	stock	NOUN
cblr-1707	884	9	)	)	PUNCT
cblr-1707	884	10	;	;	PUNCT
cblr-1707	884	11	12	12	NUM
cblr-1707	884	12	c.f.r	c.f.r	NOUN
cblr-1707	884	13	.	.	PUNCT
cblr-1707	885	1	§	§	PROPN
cblr-1707	885	2	1.3	1.3	NUM
cblr-1707	885	3	(	(	PUNCT
cblr-1707	885	4	2018	2018	NUM
cblr-1707	885	5	)	)	PUNCT
cblr-1707	885	6	(	(	PUNCT
cblr-1707	885	7	junk	junk	NOUN
cblr-1707	885	8	bonds	bond	NOUN
cblr-1707	885	9	)	)	PUNCT
cblr-1707	885	10	.	.	PUNCT
cblr-1707	886	1	144	144	NUM
cblr-1707	886	2	see	see	VERB
cblr-1707	886	3	joskow	joskow	PROPN
cblr-1707	886	4	&	&	CCONJ
cblr-1707	886	5	schmalensee	schmalensee	PROPN
cblr-1707	886	6	,	,	PUNCT
cblr-1707	886	7	supra	supra	PROPN
cblr-1707	886	8	note	note	PROPN
cblr-1707	886	9	37	37	NUM
cblr-1707	886	10	,	,	PUNCT
cblr-1707	886	11	at	at	ADP
cblr-1707	886	12	4–8	4–8	NOUN
cblr-1707	886	13	.	.	NOUN
cblr-1707	886	14	145	145	NUM
cblr-1707	887	1	i	i	PRON
cblr-1707	887	2	d.	d.	PROPN
cblr-1707	887	3	at	at	ADP
cblr-1707	887	4	8	8	NUM
cblr-1707	887	5	.	.	NOUN
cblr-1707	887	6	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	888	1	no	no	NOUN
cblr-1707	888	2	.	.	PUNCT
cblr-1707	889	1	3:757	3:757	NUM
cblr-1707	889	2	]	]	X
cblr-1707	889	3	money	money	NOUN
cblr-1707	889	4	as	as	SCONJ
cblr-1707	889	5	infrastructure	infrastructure	NOUN
cblr-1707	889	6	807	807	NUM
cblr-1707	889	7	efficacy	efficacy	NOUN
cblr-1707	889	8	would	would	AUX
cblr-1707	889	9	no	no	ADV
cblr-1707	889	10	longer	long	ADV
cblr-1707	889	11	require	require	VERB
cblr-1707	889	12	a	a	DET
cblr-1707	889	13	large	large	ADJ
cblr-1707	889	14	central	central	ADJ
cblr-1707	889	15	bank	bank	NOUN
cblr-1707	889	16	balance	balance	NOUN
cblr-1707	889	17	sheet	sheet	NOUN
cblr-1707	889	18	.	.	PUNCT
cblr-1707	890	1	in	in	ADP
cblr-1707	890	2	this	this	DET
cblr-1707	890	3	regulatory	regulatory	ADJ
cblr-1707	890	4	model	model	NOUN
cblr-1707	890	5	,	,	PUNCT
cblr-1707	890	6	it	it	PRON
cblr-1707	890	7	would	would	AUX
cblr-1707	890	8	be	be	AUX
cblr-1707	890	9	pointless	pointless	ADJ
cblr-1707	890	10	to	to	PART
cblr-1707	890	11	refer	refer	VERB
cblr-1707	890	12	to	to	ADP
cblr-1707	890	13	any	any	DET
cblr-1707	890	14	particular	particular	ADJ
cblr-1707	890	15	regulatory	regulatory	ADJ
cblr-1707	890	16	constraint	constraint	NOUN
cblr-1707	890	17	as	as	ADP
cblr-1707	890	18	a	a	DET
cblr-1707	890	19	“	"	PUNCT
cblr-1707	890	20	tax	tax	NOUN
cblr-1707	890	21	”	"	PUNCT
cblr-1707	890	22	for	for	ADP
cblr-1707	890	23	which	which	PRON
cblr-1707	890	24	chartered	charter	VERB
cblr-1707	890	25	banks	bank	NOUN
cblr-1707	890	26	must	must	AUX
cblr-1707	890	27	then	then	ADV
cblr-1707	890	28	somehow	somehow	ADV
cblr-1707	890	29	be	be	AUX
cblr-1707	890	30	compensated	compensate	VERB
cblr-1707	890	31	.	.	PUNCT
cblr-1707	891	1	if	if	SCONJ
cblr-1707	891	2	,	,	PUNCT
cblr-1707	891	3	in	in	ADP
cblr-1707	891	4	the	the	DET
cblr-1707	891	5	hypothetical	hypothetical	ADJ
cblr-1707	891	6	franchise	franchise	NOUN
cblr-1707	891	7	auction	auction	NOUN
cblr-1707	891	8	described	describe	VERB
cblr-1707	891	9	above	above	ADV
cblr-1707	891	10	,	,	PUNCT
cblr-1707	891	11	the	the	DET
cblr-1707	891	12	government	government	NOUN
cblr-1707	891	13	indicated	indicate	VERB
cblr-1707	891	14	that	that	SCONJ
cblr-1707	891	15	the	the	DET
cblr-1707	891	16	iorr	iorr	NOUN
cblr-1707	891	17	rate	rate	NOUN
cblr-1707	891	18	would	would	AUX
cblr-1707	891	19	be	be	AUX
cblr-1707	891	20	held	hold	VERB
cblr-1707	891	21	permanently	permanently	ADV
cblr-1707	891	22	at	at	ADP
cblr-1707	891	23	zero	zero	NUM
cblr-1707	891	24	percent	percent	NOUN
cblr-1707	891	25	(	(	PUNCT
cblr-1707	891	26	as	as	SCONJ
cblr-1707	891	27	was	be	AUX
cblr-1707	891	28	the	the	DET
cblr-1707	891	29	case	case	NOUN
cblr-1707	891	30	in	in	ADP
cblr-1707	891	31	the	the	DET
cblr-1707	891	32	united	united	PROPN
cblr-1707	891	33	states	states	PROPN
cblr-1707	891	34	before	before	ADP
cblr-1707	891	35	late	late	ADJ
cblr-1707	891	36	2008	2008	NUM
cblr-1707	891	37	)	)	PUNCT
cblr-1707	891	38	,	,	PUNCT
cblr-1707	891	39	then	then	ADV
cblr-1707	891	40	bidders	bidder	NOUN
cblr-1707	891	41	would	would	AUX
cblr-1707	891	42	simply	simply	ADV
cblr-1707	891	43	price	price	VERB
cblr-1707	891	44	this	this	DET
cblr-1707	891	45	term	term	NOUN
cblr-1707	891	46	into	into	ADP
cblr-1707	891	47	their	their	PRON
cblr-1707	891	48	bids	bid	NOUN
cblr-1707	891	49	.	.	PUNCT
cblr-1707	892	1	from	from	ADP
cblr-1707	892	2	a	a	DET
cblr-1707	892	3	practical	practical	ADJ
cblr-1707	892	4	regulatory	regulatory	ADJ
cblr-1707	892	5	standpoint	standpoint	NOUN
cblr-1707	892	6	,	,	PUNCT
cblr-1707	892	7	the	the	DET
cblr-1707	892	8	relevant	relevant	ADJ
cblr-1707	892	9	binding	bind	VERB
cblr-1707	892	10	constraint	constraint	NOUN
cblr-1707	892	11	is	be	AUX
cblr-1707	892	12	that	that	SCONJ
cblr-1707	892	13	the	the	DET
cblr-1707	892	14	provisions	provision	NOUN
cblr-1707	892	15	of	of	ADP
cblr-1707	892	16	the	the	DET
cblr-1707	892	17	regulatory	regulatory	ADJ
cblr-1707	892	18	package	package	NOUN
cblr-1707	892	19	as	as	ADP
cblr-1707	892	20	a	a	DET
cblr-1707	892	21	whole	whole	NOUN
cblr-1707	892	22	must	must	AUX
cblr-1707	892	23	produce	produce	VERB
cblr-1707	892	24	a	a	DET
cblr-1707	892	25	rate	rate	NOUN
cblr-1707	892	26	of	of	ADP
cblr-1707	892	27	return	return	NOUN
cblr-1707	892	28	sufficient	sufficient	ADJ
cblr-1707	892	29	to	to	PART
cblr-1707	892	30	attract	attract	VERB
cblr-1707	892	31	capital	capital	NOUN
cblr-1707	892	32	to	to	ADP
cblr-1707	892	33	the	the	DET
cblr-1707	892	34	enterprise	enterprise	NOUN
cblr-1707	892	35	.	.	PUNCT
cblr-1707	893	1	this	this	PRON
cblr-1707	893	2	is	be	AUX
cblr-1707	893	3	wellunderstood	wellunderstood	NOUN
cblr-1707	893	4	in	in	ADP
cblr-1707	893	5	infrastructure	infrastructure	NOUN
cblr-1707	893	6	regulation	regulation	NOUN
cblr-1707	893	7	.	.	PUNCT
cblr-1707	894	1	to	to	PART
cblr-1707	894	2	quote	quote	VERB
cblr-1707	894	3	the	the	DET
cblr-1707	894	4	leading	lead	VERB
cblr-1707	894	5	supreme	supreme	PROPN
cblr-1707	894	6	court	court	PROPN
cblr-1707	894	7	case	case	NOUN
cblr-1707	894	8	on	on	ADP
cblr-1707	894	9	public	public	ADJ
cblr-1707	894	10	utility	utility	NOUN
cblr-1707	894	11	ratemaking	ratemaking	NOUN
cblr-1707	894	12	,	,	PUNCT
cblr-1707	894	13	allowed	allow	VERB
cblr-1707	894	14	returns	return	NOUN
cblr-1707	894	15	“	"	PUNCT
cblr-1707	894	16	should	should	AUX
cblr-1707	894	17	be	be	AUX
cblr-1707	894	18	sufficient	sufficient	ADJ
cblr-1707	894	19	.	.	PUNCT
cblr-1707	894	20	.	.	PUNCT
cblr-1707	894	21	.	.	PUNCT
cblr-1707	895	1	to	to	PART
cblr-1707	895	2	attract	attract	VERB
cblr-1707	895	3	capital	capital	NOUN
cblr-1707	895	4	.	.	PUNCT
cblr-1707	895	5	”146	”146	PUNCT
cblr-1707	896	1	returns	return	NOUN
cblr-1707	896	2	in	in	ADP
cblr-1707	896	3	excess	excess	NOUN
cblr-1707	896	4	of	of	ADP
cblr-1707	896	5	this	this	DET
cblr-1707	896	6	amount	amount	NOUN
cblr-1707	896	7	constitute	constitute	VERB
cblr-1707	896	8	rent	rent	NOUN
cblr-1707	896	9	extraction	extraction	NOUN
cblr-1707	896	10	.	.	PUNCT
cblr-1707	897	1	to	to	PART
cblr-1707	897	2	be	be	AUX
cblr-1707	897	3	sure	sure	ADJ
cblr-1707	897	4	,	,	PUNCT
cblr-1707	897	5	re	re	VERB
cblr-1707	897	6	-	-	VERB
cblr-1707	897	7	establishing	establish	VERB
cblr-1707	897	8	regulatory	regulatory	ADJ
cblr-1707	897	9	controls	control	NOUN
cblr-1707	897	10	over	over	ADP
cblr-1707	897	11	bank	bank	NOUN
cblr-1707	897	12	deposit	deposit	NOUN
cblr-1707	897	13	rates	rate	NOUN
cblr-1707	897	14	would	would	AUX
cblr-1707	897	15	present	present	VERB
cblr-1707	897	16	administrative	administrative	ADJ
cblr-1707	897	17	challenges	challenge	NOUN
cblr-1707	897	18	,	,	PUNCT
cblr-1707	897	19	particularly	particularly	ADV
cblr-1707	897	20	with	with	ADP
cblr-1707	897	21	respect	respect	NOUN
cblr-1707	897	22	to	to	ADP
cblr-1707	897	23	valuation	valuation	NOUN
cblr-1707	897	24	.	.	PUNCT
cblr-1707	898	1	but	but	CCONJ
cblr-1707	898	2	these	these	DET
cblr-1707	898	3	valuation	valuation	NOUN
cblr-1707	898	4	challenges	challenge	NOUN
cblr-1707	898	5	are	be	AUX
cblr-1707	898	6	already	already	ADV
cblr-1707	898	7	inherent	inherent	ADJ
cblr-1707	898	8	in	in	ADP
cblr-1707	898	9	deposit	deposit	NOUN
cblr-1707	898	10	insurance	insurance	NOUN
cblr-1707	898	11	pricing	pricing	NOUN
cblr-1707	898	12	,	,	PUNCT
cblr-1707	898	13	which	which	PRON
cblr-1707	898	14	is	be	AUX
cblr-1707	898	15	central	central	ADJ
cblr-1707	898	16	to	to	ADP
cblr-1707	898	17	existing	exist	VERB
cblr-1707	898	18	bank	bank	NOUN
cblr-1707	898	19	regulation	regulation	NOUN
cblr-1707	898	20	.	.	PUNCT
cblr-1707	899	1	it	it	PRON
cblr-1707	899	2	is	be	AUX
cblr-1707	899	3	far	far	ADV
cblr-1707	899	4	from	from	ADP
cblr-1707	899	5	obvious	obvious	ADJ
cblr-1707	899	6	that	that	SCONJ
cblr-1707	899	7	the	the	DET
cblr-1707	899	8	incremental	incremental	ADJ
cblr-1707	899	9	costs	cost	NOUN
cblr-1707	899	10	of	of	ADP
cblr-1707	899	11	implementing	implement	VERB
cblr-1707	899	12	administrative	administrative	ADJ
cblr-1707	899	13	controls	control	NOUN
cblr-1707	899	14	over	over	ADP
cblr-1707	899	15	bank	bank	NOUN
cblr-1707	899	16	deposit	deposit	NOUN
cblr-1707	899	17	rates	rate	NOUN
cblr-1707	899	18	would	would	AUX
cblr-1707	899	19	exceed	exceed	VERB
cblr-1707	899	20	the	the	DET
cblr-1707	899	21	very	very	ADV
cblr-1707	899	22	considerable	considerable	ADJ
cblr-1707	899	23	benefits	benefit	NOUN
cblr-1707	899	24	described	describe	VERB
cblr-1707	899	25	above	above	ADV
cblr-1707	899	26	.	.	PUNCT
cblr-1707	900	1	and	and	CCONJ
cblr-1707	900	2	there	there	PRON
cblr-1707	900	3	is	be	VERB
cblr-1707	900	4	a	a	DET
cblr-1707	900	5	longstanding	longstanding	ADJ
cblr-1707	900	6	,	,	PUNCT
cblr-1707	900	7	well	well	ADV
cblr-1707	900	8	-	-	PUNCT
cblr-1707	900	9	established	establish	VERB
cblr-1707	900	10	regulatory	regulatory	ADJ
cblr-1707	900	11	model	model	NOUN
cblr-1707	900	12	for	for	ADP
cblr-1707	900	13	this	this	DET
cblr-1707	900	14	form	form	NOUN
cblr-1707	900	15	of	of	ADP
cblr-1707	900	16	ratemaking	ratemaking	NOUN
cblr-1707	900	17	in	in	ADP
cblr-1707	900	18	the	the	DET
cblr-1707	900	19	area	area	NOUN
cblr-1707	900	20	of	of	ADP
cblr-1707	900	21	infrastructure	infrastructure	NOUN
cblr-1707	900	22	regulation	regulation	NOUN
cblr-1707	900	23	.	.	PUNCT
cblr-1707	901	1	stepping	step	VERB
cblr-1707	901	2	back	back	ADV
cblr-1707	901	3	,	,	PUNCT
cblr-1707	901	4	it	it	PRON
cblr-1707	901	5	is	be	AUX
cblr-1707	901	6	evident	evident	ADJ
cblr-1707	901	7	that	that	SCONJ
cblr-1707	901	8	this	this	DET
cblr-1707	901	9	monetary	monetary	ADJ
cblr-1707	901	10	-	-	PUNCT
cblr-1707	901	11	outsourcing	outsource	VERB
cblr-1707	901	12	regulatory	regulatory	ADJ
cblr-1707	901	13	model	model	NOUN
cblr-1707	901	14	,	,	PUNCT
cblr-1707	901	15	which	which	PRON
cblr-1707	901	16	emerges	emerge	VERB
cblr-1707	901	17	logically	logically	ADV
cblr-1707	901	18	from	from	ADP
cblr-1707	901	19	the	the	DET
cblr-1707	901	20	money	money	NOUN
cblr-1707	901	21	paradigm	paradigm	NOUN
cblr-1707	901	22	,	,	PUNCT
cblr-1707	901	23	is	be	AUX
cblr-1707	901	24	fundamentally	fundamentally	ADV
cblr-1707	901	25	inconsistent	inconsistent	ADJ
cblr-1707	901	26	with	with	ADP
cblr-1707	901	27	the	the	DET
cblr-1707	901	28	intermediation	intermediation	NOUN
cblr-1707	901	29	paradigm	paradigm	NOUN
cblr-1707	901	30	.	.	PUNCT
cblr-1707	902	1	intrinsic	intrinsic	ADJ
cblr-1707	902	2	to	to	ADP
cblr-1707	902	3	the	the	DET
cblr-1707	902	4	very	very	ADJ
cblr-1707	902	5	notion	notion	NOUN
cblr-1707	902	6	of	of	ADP
cblr-1707	902	7	intermediation	intermediation	NOUN
cblr-1707	902	8	is	be	AUX
cblr-1707	902	9	that	that	SCONJ
cblr-1707	902	10	claims	claim	NOUN
cblr-1707	902	11	on	on	ADP
cblr-1707	902	12	the	the	DET
cblr-1707	902	13	enterprise	enterprise	NOUN
cblr-1707	902	14	should	should	AUX
cblr-1707	902	15	reflect	reflect	VERB
cblr-1707	902	16	the	the	DET
cblr-1707	902	17	risk	risk	NOUN
cblr-1707	902	18	attributes	attribute	NOUN
cblr-1707	902	19	of	of	ADP
cblr-1707	902	20	the	the	DET
cblr-1707	902	21	left	left	ADJ
cblr-1707	902	22	side	side	NOUN
cblr-1707	902	23	of	of	ADP
cblr-1707	902	24	the	the	DET
cblr-1707	902	25	balance	balance	NOUN
cblr-1707	902	26	sheet	sheet	NOUN
cblr-1707	902	27	(	(	PUNCT
cblr-1707	902	28	the	the	DET
cblr-1707	902	29	asset	asset	NOUN
cblr-1707	902	30	portfolio	portfolio	NOUN
cblr-1707	902	31	)	)	PUNCT
cblr-1707	902	32	.	.	PUNCT
cblr-1707	903	1	in	in	ADP
cblr-1707	903	2	the	the	DET
cblr-1707	903	3	intermediation	intermediation	NOUN
cblr-1707	903	4	paradigm	paradigm	NOUN
cblr-1707	903	5	,	,	PUNCT
cblr-1707	903	6	decoupling	decouple	VERB
cblr-1707	903	7	these	these	DET
cblr-1707	903	8	things	thing	NOUN
cblr-1707	903	9	can	can	AUX
cblr-1707	903	10	not	not	PART
cblr-1707	903	11	be	be	AUX
cblr-1707	903	12	seriously	seriously	ADV
cblr-1707	903	13	entertained	entertain	VERB
cblr-1707	903	14	.	.	PUNCT
cblr-1707	904	1	taking	take	VERB
cblr-1707	904	2	the	the	DET
cblr-1707	904	3	money	money	NOUN
cblr-1707	904	4	paradigm	paradigm	NOUN
cblr-1707	904	5	seriously	seriously	ADV
cblr-1707	904	6	thus	thus	ADV
cblr-1707	904	7	reveals	reveal	VERB
cblr-1707	904	8	institutional	institutional	ADJ
cblr-1707	904	9	alternatives	alternative	NOUN
cblr-1707	904	10	that	that	PRON
cblr-1707	904	11	are	be	AUX
cblr-1707	904	12	otherwise	otherwise	ADV
cblr-1707	904	13	obscured	obscure	VERB
cblr-1707	904	14	from	from	ADP
cblr-1707	904	15	view	view	NOUN
cblr-1707	904	16	.	.	PUNCT
cblr-1707	905	1	it	it	PRON
cblr-1707	905	2	raises	raise	VERB
cblr-1707	905	3	146	146	NUM
cblr-1707	905	4	fed	fed	PROPN
cblr-1707	905	5	.	.	PUNCT
cblr-1707	906	1	power	power	NOUN
cblr-1707	906	2	comm’n	comm’n	NOUN
cblr-1707	906	3	v.	v.	ADP
cblr-1707	906	4	hope	hope	PROPN
cblr-1707	906	5	nat	nat	PROPN
cblr-1707	906	6	.	.	PUNCT
cblr-1707	907	1	gas	gas	PROPN
cblr-1707	907	2	co.	co.	PROPN
cblr-1707	907	3	,	,	PUNCT
cblr-1707	907	4	320	320	NUM
cblr-1707	907	5	u.s	u.s	PROPN
cblr-1707	907	6	.	.	PROPN
cblr-1707	907	7	591	591	NUM
cblr-1707	907	8	,	,	PUNCT
cblr-1707	907	9	603	603	NUM
cblr-1707	907	10	(	(	PUNCT
cblr-1707	907	11	1944	1944	NUM
cblr-1707	907	12	)	)	PUNCT
cblr-1707	907	13	.	.	PUNCT
cblr-1707	908	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	908	2	808	808	NUM
cblr-1707	908	3	columbia	columbia	PROPN
cblr-1707	908	4	business	business	NOUN
cblr-1707	908	5	law	law	PROPN
cblr-1707	908	6	review	review	NOUN
cblr-1707	908	7	[	[	X
cblr-1707	908	8	vol	vol	NOUN
cblr-1707	908	9	.	.	NOUN
cblr-1707	908	10	2018	2018	NUM
cblr-1707	909	1	the	the	DET
cblr-1707	909	2	prospect	prospect	NOUN
cblr-1707	909	3	of	of	ADP
cblr-1707	909	4	a	a	DET
cblr-1707	909	5	rationalized	rationalized	ADJ
cblr-1707	909	6	and	and	CCONJ
cblr-1707	909	7	simplified	simplified	ADJ
cblr-1707	909	8	approach	approach	NOUN
cblr-1707	909	9	to	to	ADP
cblr-1707	909	10	monetary	monetary	ADJ
cblr-1707	909	11	policy	policy	NOUN
cblr-1707	909	12	implementation	implementation	NOUN
cblr-1707	909	13	,	,	PUNCT
cblr-1707	909	14	one	one	NOUN
cblr-1707	909	15	that	that	PRON
cblr-1707	909	16	is	be	AUX
cblr-1707	909	17	more	more	ADV
cblr-1707	909	18	transparent	transparent	ADJ
cblr-1707	909	19	,	,	PUNCT
cblr-1707	909	20	more	more	ADV
cblr-1707	909	21	efficient	efficient	ADJ
cblr-1707	909	22	,	,	PUNCT
cblr-1707	909	23	and	and	CCONJ
cblr-1707	909	24	more	more	ADV
cblr-1707	909	25	equitable	equitable	ADJ
cblr-1707	909	26	.	.	PUNCT
cblr-1707	910	1	iii	iii	X
cblr-1707	910	2	.	.	PUNCT
cblr-1707	910	3	entry	entry	NOUN
cblr-1707	910	4	restriction	restriction	NOUN
cblr-1707	910	5	and	and	CCONJ
cblr-1707	910	6	the	the	DET
cblr-1707	910	7	optimal	optimal	ADJ
cblr-1707	910	8	number	number	NOUN
cblr-1707	910	9	of	of	ADP
cblr-1707	910	10	banks	bank	NOUN
cblr-1707	910	11	deposit	deposit	VERB
cblr-1707	910	12	interest	interest	NOUN
cblr-1707	910	13	rate	rate	NOUN
cblr-1707	910	14	controls	control	NOUN
cblr-1707	910	15	were	be	AUX
cblr-1707	910	16	a	a	DET
cblr-1707	910	17	conspicuous	conspicuous	ADJ
cblr-1707	910	18	feature	feature	NOUN
cblr-1707	910	19	of	of	ADP
cblr-1707	910	20	the	the	DET
cblr-1707	910	21	new	new	ADJ
cblr-1707	910	22	deal	deal	NOUN
cblr-1707	910	23	system	system	NOUN
cblr-1707	910	24	of	of	ADP
cblr-1707	910	25	bank	bank	NOUN
cblr-1707	910	26	regulation.147	regulation.147	PROPN
cblr-1707	910	27	known	know	VERB
cblr-1707	910	28	as	as	ADP
cblr-1707	910	29	regulation	regulation	NOUN
cblr-1707	910	30	q	q	NOUN
cblr-1707	910	31	,	,	PUNCT
cblr-1707	910	32	these	these	DET
cblr-1707	910	33	controls	control	NOUN
cblr-1707	910	34	unraveled	unravel	VERB
cblr-1707	910	35	in	in	ADP
cblr-1707	910	36	the	the	DET
cblr-1707	910	37	1980s	1980s	NUM
cblr-1707	910	38	.	.	PUNCT
cblr-1707	911	1	the	the	DET
cblr-1707	911	2	proximate	proximate	NOUN
cblr-1707	911	3	cause	cause	NOUN
cblr-1707	911	4	of	of	ADP
cblr-1707	911	5	their	their	PRON
cblr-1707	911	6	unraveling	unraveling	NOUN
cblr-1707	911	7	was	be	AUX
cblr-1707	911	8	banking	banking	NOUN
cblr-1707	911	9	system	system	NOUN
cblr-1707	911	10	disintermediation	disintermediation	NOUN
cblr-1707	911	11	.	.	PUNCT
cblr-1707	912	1	the	the	DET
cblr-1707	912	2	banking	banking	NOUN
cblr-1707	912	3	industry	industry	NOUN
cblr-1707	912	4	had	have	AUX
cblr-1707	912	5	lobbied	lobby	VERB
cblr-1707	912	6	in	in	ADP
cblr-1707	912	7	favor	favor	NOUN
cblr-1707	912	8	of	of	ADP
cblr-1707	912	9	these	these	DET
cblr-1707	912	10	controls	control	NOUN
cblr-1707	912	11	in	in	ADP
cblr-1707	912	12	the	the	DET
cblr-1707	912	13	1930s	1930	NOUN
cblr-1707	912	14	with	with	ADP
cblr-1707	912	15	a	a	DET
cblr-1707	912	16	view	view	NOUN
cblr-1707	912	17	toward	toward	ADP
cblr-1707	912	18	raising	raise	VERB
cblr-1707	912	19	bank	bank	NOUN
cblr-1707	912	20	profits	profit	NOUN
cblr-1707	912	21	by	by	ADP
cblr-1707	912	22	lowering	lower	VERB
cblr-1707	912	23	costs.148	costs.148	NOUN
cblr-1707	912	24	what	what	PRON
cblr-1707	912	25	the	the	DET
cblr-1707	912	26	industry	industry	NOUN
cblr-1707	912	27	did	do	AUX
cblr-1707	912	28	not	not	PART
cblr-1707	912	29	foresee	foresee	VERB
cblr-1707	912	30	was	be	AUX
cblr-1707	912	31	the	the	DET
cblr-1707	912	32	emergence	emergence	NOUN
cblr-1707	912	33	of	of	ADP
cblr-1707	912	34	deposit	deposit	NOUN
cblr-1707	912	35	substitutes	substitute	NOUN
cblr-1707	912	36	.	.	PUNCT
cblr-1707	913	1	high	high	ADJ
cblr-1707	913	2	interest	interest	NOUN
cblr-1707	913	3	rates	rate	NOUN
cblr-1707	913	4	in	in	ADP
cblr-1707	913	5	the	the	DET
cblr-1707	913	6	1970s	1970	NOUN
cblr-1707	913	7	and	and	CCONJ
cblr-1707	913	8	early	early	ADJ
cblr-1707	913	9	1980s	1980	NOUN
cblr-1707	913	10	gave	give	VERB
cblr-1707	913	11	rise	rise	NOUN
cblr-1707	913	12	to	to	ADP
cblr-1707	913	13	the	the	DET
cblr-1707	913	14	money	money	NOUN
cblr-1707	913	15	market	market	NOUN
cblr-1707	913	16	mutual	mutual	ADJ
cblr-1707	913	17	fund	fund	NOUN
cblr-1707	913	18	(	(	PUNCT
cblr-1707	913	19	“	"	PUNCT
cblr-1707	913	20	mmf	mmf	NOUN
cblr-1707	913	21	”	"	PUNCT
cblr-1707	913	22	)	)	PUNCT
cblr-1707	913	23	industry	industry	NOUN
cblr-1707	913	24	.	.	PUNCT
cblr-1707	914	1	mmfs	mmfs	PROPN
cblr-1707	914	2	mimicked	mimic	VERB
cblr-1707	914	3	key	key	ADJ
cblr-1707	914	4	features	feature	NOUN
cblr-1707	914	5	of	of	ADP
cblr-1707	914	6	deposit	deposit	NOUN
cblr-1707	914	7	accounts	account	NOUN
cblr-1707	914	8	but	but	CCONJ
cblr-1707	914	9	paid	pay	VERB
cblr-1707	914	10	higher	high	ADJ
cblr-1707	914	11	interest	interest	NOUN
cblr-1707	914	12	rates	rate	NOUN
cblr-1707	914	13	.	.	PUNCT
cblr-1707	915	1	when	when	SCONJ
cblr-1707	915	2	bank	bank	NOUN
cblr-1707	915	3	depositors	depositor	NOUN
cblr-1707	915	4	started	start	VERB
cblr-1707	915	5	flocking	flock	VERB
cblr-1707	915	6	to	to	ADP
cblr-1707	915	7	mmfs	mmfs	NOUN
cblr-1707	915	8	,	,	PUNCT
cblr-1707	915	9	regulation	regulation	NOUN
cblr-1707	915	10	q	q	NOUN
cblr-1707	915	11	could	could	AUX
cblr-1707	915	12	no	no	ADV
cblr-1707	915	13	longer	long	ADV
cblr-1707	915	14	be	be	AUX
cblr-1707	915	15	sustained.149	sustained.149	NOUN
cblr-1707	915	16	regulation	regulation	NOUN
cblr-1707	915	17	q	q	NOUN
cblr-1707	915	18	’s	’s	PART
cblr-1707	915	19	demise	demise	NOUN
cblr-1707	915	20	points	point	NOUN
cblr-1707	915	21	to	to	ADP
cblr-1707	915	22	a	a	DET
cblr-1707	915	23	central	central	ADJ
cblr-1707	915	24	issue	issue	NOUN
cblr-1707	915	25	in	in	ADP
cblr-1707	915	26	rate	rate	NOUN
cblr-1707	915	27	regulation	regulation	NOUN
cblr-1707	915	28	more	more	ADV
cblr-1707	915	29	generally	generally	ADV
cblr-1707	915	30	.	.	PUNCT
cblr-1707	916	1	whenever	whenever	SCONJ
cblr-1707	916	2	prices	price	NOUN
cblr-1707	916	3	are	be	AUX
cblr-1707	916	4	set	set	VERB
cblr-1707	916	5	“	"	PUNCT
cblr-1707	916	6	high	high	ADJ
cblr-1707	916	7	”	"	PUNCT
cblr-1707	916	8	for	for	ADP
cblr-1707	916	9	some	some	PRON
cblr-1707	916	10	or	or	CCONJ
cblr-1707	916	11	all	all	DET
cblr-1707	916	12	users,150	users,150	ADV
cblr-1707	916	13	unregulated	unregulated	ADJ
cblr-1707	916	14	firms	firm	NOUN
cblr-1707	916	15	may	may	AUX
cblr-1707	916	16	seek	seek	VERB
cblr-1707	916	17	to	to	PART
cblr-1707	916	18	undercut	undercut	VERB
cblr-1707	916	19	rate	rate	NOUN
cblr-1707	916	20	regulation	regulation	NOUN
cblr-1707	916	21	by	by	ADP
cblr-1707	916	22	offering	offer	VERB
cblr-1707	916	23	substitute	substitute	NOUN
cblr-1707	916	24	products	product	NOUN
cblr-1707	916	25	at	at	ADP
cblr-1707	916	26	lower	low	ADJ
cblr-1707	916	27	prices	price	NOUN
cblr-1707	916	28	.	.	PUNCT
cblr-1707	917	1	to	to	PART
cblr-1707	917	2	avoid	avoid	VERB
cblr-1707	917	3	this	this	PRON
cblr-1707	917	4	,	,	PUNCT
cblr-1707	917	5	rate	rate	NOUN
cblr-1707	917	6	regulation	regulation	NOUN
cblr-1707	917	7	usually	usually	ADV
cblr-1707	917	8	goes	go	VERB
cblr-1707	917	9	hand	hand	NOUN
cblr-1707	917	10	-	-	PUNCT
cblr-1707	917	11	in	in	ADP
cblr-1707	917	12	-	-	PUNCT
cblr-1707	917	13	hand	hand	NOUN
cblr-1707	917	14	with	with	ADP
cblr-1707	917	15	147	147	NUM
cblr-1707	917	16	see	see	NOUN
cblr-1707	917	17	banking	banking	NOUN
cblr-1707	917	18	act	act	NOUN
cblr-1707	917	19	of	of	ADP
cblr-1707	917	20	1933	1933	NUM
cblr-1707	917	21	,	,	PUNCT
cblr-1707	917	22	pub	pub	NOUN
cblr-1707	917	23	.	.	PUNCT
cblr-1707	918	1	l.	l.	PROPN
cblr-1707	918	2	no	no	INTJ
cblr-1707	918	3	.	.	PROPN
cblr-1707	919	1	73	73	NUM
cblr-1707	919	2	-	-	SYM
cblr-1707	919	3	66	66	NUM
cblr-1707	919	4	,	,	PUNCT
cblr-1707	919	5	§	§	PROPN
cblr-1707	919	6	11	11	NUM
cblr-1707	919	7	,	,	PUNCT
cblr-1707	919	8	48	48	NUM
cblr-1707	919	9	stat	stat	NOUN
cblr-1707	919	10	.	.	PUNCT
cblr-1707	920	1	162	162	NUM
cblr-1707	920	2	,	,	PUNCT
cblr-1707	920	3	181	181	NUM
cblr-1707	920	4	–	–	SYM
cblr-1707	920	5	82	82	NUM
cblr-1707	920	6	(	(	PUNCT
cblr-1707	920	7	1933	1933	NUM
cblr-1707	920	8	)	)	PUNCT
cblr-1707	920	9	.	.	PUNCT
cblr-1707	921	1	148	148	NUM
cblr-1707	921	2	see	see	VERB
cblr-1707	921	3	,	,	PUNCT
cblr-1707	921	4	e.g.	e.g.	ADV
cblr-1707	921	5	,	,	PUNCT
cblr-1707	921	6	robert	robert	PROPN
cblr-1707	921	7	c.	c.	PROPN
cblr-1707	921	8	west	west	PROPN
cblr-1707	921	9	,	,	PUNCT
cblr-1707	921	10	the	the	DET
cblr-1707	921	11	depository	depository	NOUN
cblr-1707	921	12	institutions	institution	NOUN
cblr-1707	921	13	deregulation	deregulation	PROPN
cblr-1707	921	14	act	act	NOUN
cblr-1707	921	15	of	of	ADP
cblr-1707	921	16	1980	1980	NUM
cblr-1707	921	17	:	:	PUNCT
cblr-1707	921	18	a	a	DET
cblr-1707	921	19	historical	historical	ADJ
cblr-1707	921	20	perspective	perspective	NOUN
cblr-1707	921	21	,	,	PUNCT
cblr-1707	921	22	fed	fed	PROPN
cblr-1707	921	23	.	.	PUNCT
cblr-1707	922	1	res	res	PROPN
cblr-1707	922	2	.	.	PUNCT
cblr-1707	922	3	bank	bank	PROPN
cblr-1707	922	4	of	of	ADP
cblr-1707	922	5	kan	kan	PROPN
cblr-1707	922	6	.	.	PUNCT
cblr-1707	923	1	city	city	PROPN
cblr-1707	923	2	econ	econ	PROPN
cblr-1707	923	3	.	.	PUNCT
cblr-1707	924	1	rev	rev	PROPN
cblr-1707	924	2	.	.	PROPN
cblr-1707	924	3	,	,	PUNCT
cblr-1707	924	4	feb	feb	PROPN
cblr-1707	924	5	.	.	PROPN
cblr-1707	924	6	1982	1982	NUM
cblr-1707	924	7	,	,	PUNCT
cblr-1707	924	8	at	at	ADP
cblr-1707	924	9	5	5	NUM
cblr-1707	924	10	.	.	SYM
cblr-1707	924	11	149	149	NUM
cblr-1707	924	12	see	see	VERB
cblr-1707	924	13	depository	depository	NOUN
cblr-1707	924	14	institutions	institution	NOUN
cblr-1707	924	15	deregulation	deregulation	NOUN
cblr-1707	924	16	and	and	CCONJ
cblr-1707	924	17	monetary	monetary	ADJ
cblr-1707	924	18	control	control	NOUN
cblr-1707	924	19	act	act	NOUN
cblr-1707	924	20	of	of	ADP
cblr-1707	924	21	1980	1980	NUM
cblr-1707	924	22	,	,	PUNCT
cblr-1707	924	23	pub	pub	NOUN
cblr-1707	924	24	.	.	PUNCT
cblr-1707	925	1	l.	l.	PROPN
cblr-1707	925	2	no	no	INTJ
cblr-1707	925	3	.	.	PROPN
cblr-1707	926	1	96	96	NUM
cblr-1707	926	2	-	-	SYM
cblr-1707	926	3	221	221	NUM
cblr-1707	926	4	,	,	PUNCT
cblr-1707	926	5	§	§	PROPN
cblr-1707	926	6	§	§	PROPN
cblr-1707	926	7	201–210	201–210	NUM
cblr-1707	926	8	,	,	PUNCT
cblr-1707	926	9	94	94	NUM
cblr-1707	926	10	stat	stat	NOUN
cblr-1707	926	11	.	.	PUNCT
cblr-1707	927	1	132	132	NUM
cblr-1707	927	2	,	,	PUNCT
cblr-1707	927	3	142–45	142–45	NUM
cblr-1707	927	4	(	(	PUNCT
cblr-1707	927	5	1980	1980	NUM
cblr-1707	927	6	)	)	PUNCT
cblr-1707	927	7	;	;	PUNCT
cblr-1707	927	8	see	see	VERB
cblr-1707	927	9	also	also	ADV
cblr-1707	927	10	the	the	DET
cblr-1707	927	11	dodd	dodd	PROPN
cblr-1707	927	12	-	-	PUNCT
cblr-1707	927	13	frank	frank	PROPN
cblr-1707	927	14	wall	wall	PROPN
cblr-1707	927	15	street	street	PROPN
cblr-1707	927	16	reform	reform	PROPN
cblr-1707	927	17	and	and	CCONJ
cblr-1707	927	18	consumer	consumer	NOUN
cblr-1707	927	19	protection	protection	PROPN
cblr-1707	927	20	act	act	PROPN
cblr-1707	927	21	,	,	PUNCT
cblr-1707	927	22	pub	pub	NOUN
cblr-1707	927	23	.	.	PUNCT
cblr-1707	928	1	l.	l.	PROPN
cblr-1707	928	2	no	no	INTJ
cblr-1707	928	3	.	.	PROPN
cblr-1707	929	1	111	111	NUM
cblr-1707	929	2	-	-	SYM
cblr-1707	929	3	203	203	NUM
cblr-1707	929	4	,	,	PUNCT
cblr-1707	929	5	§	§	PROPN
cblr-1707	929	6	627	627	NUM
cblr-1707	929	7	,	,	PUNCT
cblr-1707	929	8	124	124	NUM
cblr-1707	929	9	stat	stat	NOUN
cblr-1707	929	10	.	.	PUNCT
cblr-1707	930	1	1376	1376	NUM
cblr-1707	930	2	,	,	PUNCT
cblr-1707	930	3	1640	1640	NUM
cblr-1707	930	4	(	(	PUNCT
cblr-1707	930	5	2010	2010	NUM
cblr-1707	930	6	)	)	PUNCT
cblr-1707	930	7	.	.	PUNCT
cblr-1707	931	1	150	150	NUM
cblr-1707	931	2	low	low	ADJ
cblr-1707	931	3	deposit	deposit	NOUN
cblr-1707	931	4	interest	interest	NOUN
cblr-1707	931	5	rates	rate	NOUN
cblr-1707	931	6	are	be	AUX
cblr-1707	931	7	“	"	PUNCT
cblr-1707	931	8	expensive	expensive	ADJ
cblr-1707	931	9	”	"	PUNCT
cblr-1707	931	10	from	from	ADP
cblr-1707	931	11	the	the	DET
cblr-1707	931	12	consumer	consumer	NOUN
cblr-1707	931	13	’s	’s	PART
cblr-1707	931	14	perspective	perspective	NOUN
cblr-1707	931	15	.	.	PUNCT
cblr-1707	932	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	932	2	no	no	NOUN
cblr-1707	932	3	.	.	PUNCT
cblr-1707	933	1	3:757	3:757	NUM
cblr-1707	933	2	]	]	X
cblr-1707	933	3	money	money	NOUN
cblr-1707	933	4	as	as	ADP
cblr-1707	933	5	infrastructure	infrastructure	NOUN
cblr-1707	933	6	809	809	NUM
cblr-1707	933	7	entry	entry	NOUN
cblr-1707	933	8	restriction.151	restriction.151	NOUN
cblr-1707	933	9	traditional	traditional	ADJ
cblr-1707	933	10	infrastructure	infrastructure	NOUN
cblr-1707	933	11	regulation	regulation	NOUN
cblr-1707	933	12	implements	implement	VERB
cblr-1707	933	13	entry	entry	NOUN
cblr-1707	933	14	restriction	restriction	NOUN
cblr-1707	933	15	by	by	ADP
cblr-1707	933	16	requiring	require	VERB
cblr-1707	933	17	prospective	prospective	ADJ
cblr-1707	933	18	infrastructure	infrastructure	NOUN
cblr-1707	933	19	providers	provider	NOUN
cblr-1707	933	20	to	to	PART
cblr-1707	933	21	obtain	obtain	VERB
cblr-1707	933	22	certificates	certificate	NOUN
cblr-1707	933	23	of	of	ADP
cblr-1707	933	24	public	public	ADJ
cblr-1707	933	25	convenience	convenience	NOUN
cblr-1707	933	26	and	and	CCONJ
cblr-1707	933	27	necessity	necessity	NOUN
cblr-1707	933	28	,	,	PUNCT
cblr-1707	933	29	granted	grant	VERB
cblr-1707	933	30	at	at	ADP
cblr-1707	933	31	regulators	regulator	NOUN
cblr-1707	933	32	’	'	PUNCT
cblr-1707	933	33	discretion	discretion	NOUN
cblr-1707	933	34	.	.	PUNCT
cblr-1707	934	1	banking	banking	NOUN
cblr-1707	934	2	regulation	regulation	NOUN
cblr-1707	934	3	,	,	PUNCT
cblr-1707	934	4	too	too	ADV
cblr-1707	934	5	,	,	PUNCT
cblr-1707	934	6	employs	employ	VERB
cblr-1707	934	7	entry	entry	NOUN
cblr-1707	934	8	restriction	restriction	NOUN
cblr-1707	934	9	,	,	PUNCT
cblr-1707	934	10	though	though	SCONJ
cblr-1707	934	11	its	its	PRON
cblr-1707	934	12	history	history	NOUN
cblr-1707	934	13	has	have	AUX
cblr-1707	934	14	been	be	AUX
cblr-1707	934	15	rocky	rocky	ADJ
cblr-1707	934	16	,	,	PUNCT
cblr-1707	934	17	as	as	SCONJ
cblr-1707	934	18	explored	explore	VERB
cblr-1707	934	19	in	in	ADP
cblr-1707	934	20	more	more	ADJ
cblr-1707	934	21	detail	detail	NOUN
cblr-1707	934	22	below.152	below.152	PROPN
cblr-1707	934	23	plainly	plainly	ADV
cblr-1707	934	24	,	,	PUNCT
cblr-1707	934	25	the	the	DET
cblr-1707	934	26	system	system	NOUN
cblr-1707	934	27	of	of	ADP
cblr-1707	934	28	rate	rate	NOUN
cblr-1707	934	29	regulation	regulation	NOUN
cblr-1707	934	30	described	describe	VERB
cblr-1707	934	31	in	in	ADP
cblr-1707	934	32	part	part	NOUN
cblr-1707	934	33	ii	ii	PROPN
cblr-1707	934	34	would	would	AUX
cblr-1707	934	35	require	require	VERB
cblr-1707	934	36	effective	effective	ADJ
cblr-1707	934	37	entry	entry	NOUN
cblr-1707	934	38	restriction	restriction	NOUN
cblr-1707	934	39	into	into	ADP
cblr-1707	934	40	(	(	PUNCT
cblr-1707	934	41	dollardenominated	dollardenominated	ADJ
cblr-1707	934	42	)	)	PUNCT
cblr-1707	934	43	“	"	PUNCT
cblr-1707	934	44	money	money	NOUN
cblr-1707	934	45	”	"	PUNCT
cblr-1707	934	46	creation	creation	NOUN
cblr-1707	934	47	.	.	PUNCT
cblr-1707	935	1	there	there	PRON
cblr-1707	935	2	are	be	VERB
cblr-1707	935	3	two	two	NUM
cblr-1707	935	4	dimensions	dimension	NOUN
cblr-1707	935	5	to	to	ADP
cblr-1707	935	6	this	this	DET
cblr-1707	935	7	issue	issue	NOUN
cblr-1707	935	8	.	.	PUNCT
cblr-1707	936	1	first	first	ADV
cblr-1707	936	2	,	,	PUNCT
cblr-1707	936	3	one	one	PRON
cblr-1707	936	4	must	must	AUX
cblr-1707	936	5	define	define	VERB
cblr-1707	936	6	with	with	ADP
cblr-1707	936	7	specificity	specificity	NOUN
cblr-1707	936	8	the	the	DET
cblr-1707	936	9	nature	nature	NOUN
cblr-1707	936	10	of	of	ADP
cblr-1707	936	11	the	the	DET
cblr-1707	936	12	activity	activity	NOUN
cblr-1707	936	13	into	into	ADP
cblr-1707	936	14	which	which	PRON
cblr-1707	936	15	entry	entry	NOUN
cblr-1707	936	16	is	be	AUX
cblr-1707	936	17	to	to	PART
cblr-1707	936	18	be	be	AUX
cblr-1707	936	19	restricted	restrict	VERB
cblr-1707	936	20	.	.	PUNCT
cblr-1707	937	1	second	second	ADJ
cblr-1707	937	2	,	,	PUNCT
cblr-1707	937	3	one	one	PRON
cblr-1707	937	4	must	must	AUX
cblr-1707	937	5	establish	establish	VERB
cblr-1707	937	6	criteria	criterion	NOUN
cblr-1707	937	7	and	and	CCONJ
cblr-1707	937	8	processes	process	NOUN
cblr-1707	937	9	for	for	ADP
cblr-1707	937	10	authorizing	authorize	VERB
cblr-1707	937	11	entry	entry	NOUN
cblr-1707	937	12	.	.	PUNCT
cblr-1707	938	1	part	part	NOUN
cblr-1707	938	2	iii	iii	X
cblr-1707	938	3	shows	show	VERB
cblr-1707	938	4	that	that	SCONJ
cblr-1707	938	5	the	the	DET
cblr-1707	938	6	intermediation	intermediation	NOUN
cblr-1707	938	7	paradigm	paradigm	NOUN
cblr-1707	938	8	has	have	AUX
cblr-1707	938	9	left	leave	VERB
cblr-1707	938	10	us	we	PRON
cblr-1707	938	11	ill	ill	ADV
cblr-1707	938	12	-	-	PUNCT
cblr-1707	938	13	equipped	equipped	ADJ
cblr-1707	938	14	to	to	PART
cblr-1707	938	15	think	think	VERB
cblr-1707	938	16	coherently	coherently	ADV
cblr-1707	938	17	about	about	ADP
cblr-1707	938	18	these	these	DET
cblr-1707	938	19	twin	twin	ADJ
cblr-1707	938	20	topics	topic	NOUN
cblr-1707	938	21	.	.	PUNCT
cblr-1707	939	1	the	the	DET
cblr-1707	939	2	result	result	NOUN
cblr-1707	939	3	has	have	AUX
cblr-1707	939	4	been	be	AUX
cblr-1707	939	5	conceptual	conceptual	ADJ
cblr-1707	939	6	and	and	CCONJ
cblr-1707	939	7	legal	legal	ADJ
cblr-1707	939	8	confusion	confusion	NOUN
cblr-1707	939	9	.	.	PUNCT
cblr-1707	940	1	by	by	ADP
cblr-1707	940	2	contrast	contrast	NOUN
cblr-1707	940	3	,	,	PUNCT
cblr-1707	940	4	reembracing	reembrace	VERB
cblr-1707	940	5	the	the	DET
cblr-1707	940	6	money	money	NOUN
cblr-1707	940	7	paradigm	paradigm	NOUN
cblr-1707	940	8	—	—	PUNCT
cblr-1707	940	9	which	which	PRON
cblr-1707	940	10	sees	see	VERB
cblr-1707	940	11	bank	bank	NOUN
cblr-1707	940	12	money	money	NOUN
cblr-1707	940	13	creation	creation	NOUN
cblr-1707	940	14	through	through	ADP
cblr-1707	940	15	a	a	DET
cblr-1707	940	16	procurement	procurement	NOUN
cblr-1707	940	17	lens	len	NOUN
cblr-1707	940	18	—	—	PUNCT
cblr-1707	940	19	offers	offer	VERB
cblr-1707	940	20	a	a	DET
cblr-1707	940	21	natural	natural	ADJ
cblr-1707	940	22	way	way	NOUN
cblr-1707	940	23	to	to	PART
cblr-1707	940	24	structure	structure	VERB
cblr-1707	940	25	how	how	SCONJ
cblr-1707	940	26	we	we	PRON
cblr-1707	940	27	think	think	VERB
cblr-1707	940	28	about	about	ADP
cblr-1707	940	29	entry	entry	NOUN
cblr-1707	940	30	.	.	PUNCT
cblr-1707	941	1	among	among	ADP
cblr-1707	941	2	other	other	ADJ
cblr-1707	941	3	things	thing	NOUN
cblr-1707	941	4	,	,	PUNCT
cblr-1707	941	5	the	the	DET
cblr-1707	941	6	analysis	analysis	NOUN
cblr-1707	941	7	that	that	PRON
cblr-1707	941	8	follows	follow	VERB
cblr-1707	941	9	will	will	AUX
cblr-1707	941	10	offer	offer	VERB
cblr-1707	941	11	a	a	DET
cblr-1707	941	12	novel	novel	ADJ
cblr-1707	941	13	perspective	perspective	NOUN
cblr-1707	941	14	on	on	ADP
cblr-1707	941	15	the	the	DET
cblr-1707	941	16	optimal	optimal	ADJ
cblr-1707	941	17	number	number	NOUN
cblr-1707	941	18	of	of	ADP
cblr-1707	941	19	chartered	charter	VERB
cblr-1707	941	20	banks	bank	NOUN
cblr-1707	941	21	.	.	PUNCT
cblr-1707	942	1	a.	a.	NOUN
cblr-1707	942	2	regulatory	regulatory	ADJ
cblr-1707	942	3	“	"	PUNCT
cblr-1707	942	4	arbitrage	arbitrage	NOUN
cblr-1707	942	5	”	"	PUNCT
cblr-1707	942	6	and	and	CCONJ
cblr-1707	942	7	the	the	DET
cblr-1707	942	8	money	money	NOUN
cblr-1707	942	9	substitute	substitute	NOUN
cblr-1707	942	10	problem	problem	NOUN
cblr-1707	942	11	the	the	DET
cblr-1707	942	12	first	first	ADJ
cblr-1707	942	13	and	and	CCONJ
cblr-1707	942	14	most	most	ADV
cblr-1707	942	15	basic	basic	ADJ
cblr-1707	942	16	task	task	NOUN
cblr-1707	942	17	of	of	ADP
cblr-1707	942	18	banking	banking	NOUN
cblr-1707	942	19	law	law	NOUN
cblr-1707	942	20	is	be	AUX
cblr-1707	942	21	to	to	PART
cblr-1707	942	22	define	define	VERB
cblr-1707	942	23	the	the	DET
cblr-1707	942	24	legal	legal	ADJ
cblr-1707	942	25	privilege	privilege	NOUN
cblr-1707	942	26	that	that	SCONJ
cblr-1707	942	27	a	a	DET
cblr-1707	942	28	banking	banking	NOUN
cblr-1707	942	29	charter	charter	NOUN
cblr-1707	942	30	conveys	convey	VERB
cblr-1707	942	31	.	.	PUNCT
cblr-1707	943	1	in	in	ADP
cblr-1707	943	2	current	current	ADJ
cblr-1707	943	3	u.s	u.s	PROPN
cblr-1707	943	4	.	.	PROPN
cblr-1707	943	5	law	law	NOUN
cblr-1707	943	6	,	,	PUNCT
cblr-1707	943	7	it	it	PRON
cblr-1707	943	8	is	be	AUX
cblr-1707	943	9	axiomatic	axiomatic	ADJ
cblr-1707	943	10	that	that	SCONJ
cblr-1707	943	11	only	only	ADV
cblr-1707	943	12	banks	bank	NOUN
cblr-1707	943	13	(	(	PUNCT
cblr-1707	943	14	authorized	authorize	VERB
cblr-1707	943	15	depository	depository	NOUN
cblr-1707	943	16	institutions	institution	NOUN
cblr-1707	943	17	)	)	PUNCT
cblr-1707	943	18	may	may	AUX
cblr-1707	943	19	incur	incur	VERB
cblr-1707	943	20	“	"	PUNCT
cblr-1707	943	21	deposit	deposit	NOUN
cblr-1707	943	22	”	"	PUNCT
cblr-1707	943	23	liabilities.153	liabilities.153	NOUN
cblr-1707	943	24	but	but	CCONJ
cblr-1707	943	25	151	151	NUM
cblr-1707	943	26	in	in	ADP
cblr-1707	943	27	particular	particular	ADJ
cblr-1707	943	28	,	,	PUNCT
cblr-1707	943	29	entry	entry	NOUN
cblr-1707	943	30	restriction	restriction	NOUN
cblr-1707	943	31	is	be	AUX
cblr-1707	943	32	typically	typically	ADV
cblr-1707	943	33	used	use	VERB
cblr-1707	943	34	to	to	PART
cblr-1707	943	35	prevent	prevent	VERB
cblr-1707	943	36	“	"	PUNCT
cblr-1707	943	37	cream	cream	ADJ
cblr-1707	943	38	skimming	skimming	NOUN
cblr-1707	943	39	”	"	PUNCT
cblr-1707	943	40	in	in	ADP
cblr-1707	943	41	the	the	DET
cblr-1707	943	42	presence	presence	NOUN
cblr-1707	943	43	of	of	ADP
cblr-1707	943	44	cross	cross	NOUN
cblr-1707	943	45	subsidies	subsidy	NOUN
cblr-1707	943	46	.	.	PUNCT
cblr-1707	944	1	these	these	DET
cblr-1707	944	2	issues	issue	NOUN
cblr-1707	944	3	are	be	AUX
cblr-1707	944	4	discussed	discuss	VERB
cblr-1707	944	5	infra	infra	NOUN
cblr-1707	944	6	part	part	NOUN
cblr-1707	944	7	iv	iv	NOUN
cblr-1707	944	8	.	.	PUNCT
cblr-1707	944	9	152	152	NUM
cblr-1707	944	10	see	see	VERB
cblr-1707	944	11	infra	infra	NOUN
cblr-1707	944	12	notes	note	VERB
cblr-1707	944	13	194–200	194–200	NUM
cblr-1707	944	14	and	and	CCONJ
cblr-1707	944	15	accompanying	accompany	VERB
cblr-1707	944	16	text	text	NOUN
cblr-1707	944	17	.	.	PUNCT
cblr-1707	945	1	153	153	NUM
cblr-1707	945	2	see	see	VERB
cblr-1707	945	3	12	12	NUM
cblr-1707	945	4	u.s.c	u.s.c	ADJ
cblr-1707	945	5	.	.	PUNCT
cblr-1707	946	1	§	§	PROPN
cblr-1707	946	2	378(a)(2	378(a)(2	NUM
cblr-1707	946	3	)	)	PUNCT
cblr-1707	946	4	(	(	PUNCT
cblr-1707	946	5	2012	2012	NUM
cblr-1707	946	6	)	)	PUNCT
cblr-1707	946	7	.	.	PUNCT
cblr-1707	947	1	this	this	DET
cblr-1707	947	2	provision	provision	NOUN
cblr-1707	947	3	of	of	ADP
cblr-1707	947	4	federal	federal	ADJ
cblr-1707	947	5	law	law	NOUN
cblr-1707	947	6	is	be	AUX
cblr-1707	947	7	supplemented	supplement	VERB
cblr-1707	947	8	and	and	CCONJ
cblr-1707	947	9	reinforced	reinforce	VERB
cblr-1707	947	10	by	by	ADP
cblr-1707	947	11	state	state	NOUN
cblr-1707	947	12	“	"	PUNCT
cblr-1707	947	13	unauthorized	unauthorized	ADJ
cblr-1707	947	14	banking	banking	NOUN
cblr-1707	947	15	”	"	PUNCT
cblr-1707	947	16	statutes	statute	NOUN
cblr-1707	947	17	.	.	PUNCT
cblr-1707	948	1	see	see	VERB
cblr-1707	948	2	,	,	PUNCT
cblr-1707	948	3	e.g.	e.g.	ADV
cblr-1707	948	4	,	,	PUNCT
cblr-1707	948	5	n.y	n.y	PROPN
cblr-1707	948	6	.	.	PROPN
cblr-1707	948	7	banking	banking	NOUN
cblr-1707	948	8	law	law	NOUN
cblr-1707	948	9	§	§	PROPN
cblr-1707	948	10	131	131	NUM
cblr-1707	948	11	(	(	PUNCT
cblr-1707	948	12	mckinney	mckinney	PROPN
cblr-1707	948	13	2018	2018	NUM
cblr-1707	948	14	)	)	PUNCT
cblr-1707	948	15	.	.	PUNCT
cblr-1707	949	1	such	such	ADJ
cblr-1707	949	2	laws	law	NOUN
cblr-1707	949	3	have	have	AUX
cblr-1707	949	4	been	be	AUX
cblr-1707	949	5	in	in	ADP
cblr-1707	949	6	effect	effect	NOUN
cblr-1707	949	7	,	,	PUNCT
cblr-1707	949	8	in	in	ADP
cblr-1707	949	9	one	one	NUM
cblr-1707	949	10	form	form	NOUN
cblr-1707	949	11	or	or	CCONJ
cblr-1707	949	12	another	another	PRON
cblr-1707	949	13	,	,	PUNCT
cblr-1707	949	14	since	since	SCONJ
cblr-1707	949	15	the	the	DET
cblr-1707	949	16	early	early	ADJ
cblr-1707	949	17	nineteenth	nineteenth	ADJ
cblr-1707	949	18	century	century	NOUN
cblr-1707	949	19	.	.	PUNCT
cblr-1707	950	1	see	see	VERB
cblr-1707	950	2	,	,	PUNCT
cblr-1707	950	3	e.g.	e.g.	ADV
cblr-1707	950	4	,	,	PUNCT
cblr-1707	950	5	act	act	NOUN
cblr-1707	950	6	of	of	ADP
cblr-1707	950	7	apr	apr	PROPN
cblr-1707	950	8	.	.	PROPN
cblr-1707	950	9	21	21	NUM
cblr-1707	950	10	,	,	PUNCT
cblr-1707	950	11	1818	1818	NUM
cblr-1707	950	12	,	,	PUNCT
cblr-1707	950	13	ch	ch	NOUN
cblr-1707	950	14	.	.	PROPN
cblr-1707	950	15	236	236	NUM
cblr-1707	950	16	,	,	PUNCT
cblr-1707	950	17	1818	1818	NUM
cblr-1707	950	18	n.y	n.y	PROPN
cblr-1707	950	19	.	.	PROPN
cblr-1707	950	20	laws	law	NOUN
cblr-1707	950	21	242	242	NUM
cblr-1707	950	22	(	(	PUNCT
cblr-1707	950	23	prohibiting	prohibit	VERB
cblr-1707	950	24	unauthorized	unauthorized	ADJ
cblr-1707	950	25	persons	person	NOUN
cblr-1707	950	26	from	from	ADP
cblr-1707	950	27	conducting	conduct	VERB
cblr-1707	950	28	banking	banking	NOUN
cblr-1707	950	29	business	business	NOUN
cblr-1707	950	30	or	or	CCONJ
cblr-1707	950	31	operations	operation	NOUN
cblr-1707	950	32	)	)	PUNCT
cblr-1707	950	33	.	.	PUNCT
cblr-1707	951	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	951	2	810	810	NUM
cblr-1707	951	3	columbia	columbia	PROPN
cblr-1707	951	4	business	business	NOUN
cblr-1707	951	5	law	law	PROPN
cblr-1707	951	6	review	review	NOUN
cblr-1707	951	7	[	[	X
cblr-1707	951	8	vol	vol	NOUN
cblr-1707	951	9	.	.	NOUN
cblr-1707	951	10	2018	2018	NUM
cblr-1707	951	11	this	this	PRON
cblr-1707	951	12	only	only	ADV
cblr-1707	951	13	restates	restate	VERB
cblr-1707	951	14	the	the	DET
cblr-1707	951	15	question	question	NOUN
cblr-1707	951	16	in	in	ADP
cblr-1707	951	17	a	a	DET
cblr-1707	951	18	different	different	ADJ
cblr-1707	951	19	guise	guise	NOUN
cblr-1707	951	20	:	:	PUNCT
cblr-1707	951	21	what	what	PRON
cblr-1707	951	22	then	then	ADV
cblr-1707	951	23	is	be	AUX
cblr-1707	951	24	a	a	DET
cblr-1707	951	25	deposit	deposit	NOUN
cblr-1707	951	26	?	?	PUNCT
cblr-1707	952	1	among	among	ADP
cblr-1707	952	2	the	the	DET
cblr-1707	952	3	oddities	oddity	NOUN
cblr-1707	952	4	of	of	ADP
cblr-1707	952	5	banking	banking	NOUN
cblr-1707	952	6	law	law	NOUN
cblr-1707	952	7	is	be	AUX
cblr-1707	952	8	that	that	SCONJ
cblr-1707	952	9	this	this	DET
cblr-1707	952	10	question	question	NOUN
cblr-1707	952	11	—	—	PUNCT
cblr-1707	952	12	the	the	DET
cblr-1707	952	13	foundational	foundational	ADJ
cblr-1707	952	14	question	question	NOUN
cblr-1707	952	15	of	of	ADP
cblr-1707	952	16	the	the	DET
cblr-1707	952	17	field	field	NOUN
cblr-1707	952	18	—	—	PUNCT
cblr-1707	952	19	gets	get	VERB
cblr-1707	952	20	virtually	virtually	ADV
cblr-1707	952	21	no	no	DET
cblr-1707	952	22	legal	legal	ADJ
cblr-1707	952	23	or	or	CCONJ
cblr-1707	952	24	scholarly	scholarly	ADJ
cblr-1707	952	25	attention.154	attention.154	NOUN
cblr-1707	952	26	“	"	PUNCT
cblr-1707	952	27	deposit	deposit	NOUN
cblr-1707	952	28	”	"	PUNCT
cblr-1707	952	29	is	be	AUX
cblr-1707	952	30	not	not	PART
cblr-1707	952	31	defined	define	VERB
cblr-1707	952	32	in	in	ADP
cblr-1707	952	33	the	the	DET
cblr-1707	952	34	entry	entry	NOUN
cblr-1707	952	35	restriction	restriction	NOUN
cblr-1707	952	36	provision	provision	NOUN
cblr-1707	952	37	in	in	ADP
cblr-1707	952	38	federal	federal	ADJ
cblr-1707	952	39	law	law	NOUN
cblr-1707	952	40	.	.	PUNCT
cblr-1707	953	1	to	to	PART
cblr-1707	953	2	appreciate	appreciate	VERB
cblr-1707	953	3	how	how	SCONJ
cblr-1707	953	4	strange	strange	ADJ
cblr-1707	953	5	this	this	PRON
cblr-1707	953	6	is	be	AUX
cblr-1707	953	7	,	,	PUNCT
cblr-1707	953	8	compare	compare	VERB
cblr-1707	953	9	other	other	ADJ
cblr-1707	953	10	subfields	subfield	NOUN
cblr-1707	953	11	of	of	ADP
cblr-1707	953	12	financial	financial	ADJ
cblr-1707	953	13	regulation.155	regulation.155	NOUN
cblr-1707	953	14	in	in	ADP
cblr-1707	953	15	securities	security	NOUN
cblr-1707	953	16	regulation	regulation	NOUN
cblr-1707	953	17	,	,	PUNCT
cblr-1707	953	18	the	the	DET
cblr-1707	953	19	starting	starting	NOUN
cblr-1707	953	20	point	point	NOUN
cblr-1707	953	21	is	be	AUX
cblr-1707	953	22	,	,	PUNCT
cblr-1707	953	23	and	and	CCONJ
cblr-1707	953	24	must	must	AUX
cblr-1707	953	25	be	be	AUX
cblr-1707	953	26	,	,	PUNCT
cblr-1707	953	27	“	"	PUNCT
cblr-1707	953	28	what	what	PRON
cblr-1707	953	29	is	be	AUX
cblr-1707	953	30	a	a	DET
cblr-1707	953	31	security	security	NOUN
cblr-1707	953	32	?	?	PUNCT
cblr-1707	953	33	”	"	PUNCT
cblr-1707	954	1	federal	federal	ADJ
cblr-1707	954	2	statutory	statutory	ADJ
cblr-1707	954	3	law	law	NOUN
cblr-1707	954	4	defines	define	VERB
cblr-1707	954	5	the	the	DET
cblr-1707	954	6	term,156	term,156	PROPN
cblr-1707	954	7	and	and	CCONJ
cblr-1707	954	8	cases	case	VERB
cblr-1707	954	9	interpreting	interpret	VERB
cblr-1707	954	10	the	the	DET
cblr-1707	954	11	definition	definition	NOUN
cblr-1707	954	12	are	be	AUX
cblr-1707	954	13	part	part	NOUN
cblr-1707	954	14	of	of	ADP
cblr-1707	954	15	the	the	DET
cblr-1707	954	16	regulatory	regulatory	ADJ
cblr-1707	954	17	canon.157	canon.157	PROPN
cblr-1707	954	18	the	the	DET
cblr-1707	954	19	same	same	ADJ
cblr-1707	954	20	goes	go	VERB
cblr-1707	954	21	for	for	ADP
cblr-1707	954	22	investment	investment	NOUN
cblr-1707	954	23	company	company	NOUN
cblr-1707	954	24	regulation	regulation	NOUN
cblr-1707	954	25	:	:	PUNCT
cblr-1707	954	26	there	there	PRON
cblr-1707	954	27	is	be	VERB
cblr-1707	954	28	a	a	DET
cblr-1707	954	29	statutory	statutory	ADJ
cblr-1707	954	30	definition158	definition158	PROPN
cblr-1707	954	31	and	and	CCONJ
cblr-1707	954	32	a	a	DET
cblr-1707	954	33	subsequent	subsequent	ADJ
cblr-1707	954	34	body	body	NOUN
cblr-1707	954	35	of	of	ADP
cblr-1707	954	36	interpretive	interpretive	ADJ
cblr-1707	954	37	case	case	NOUN
cblr-1707	954	38	law,159	law,159	ADP
cblr-1707	954	39	together	together	ADV
cblr-1707	954	40	with	with	ADP
cblr-1707	954	41	critical	critical	ADJ
cblr-1707	954	42	scholarship.160	scholarship.160	NOUN
cblr-1707	954	43	in	in	ADP
cblr-1707	954	44	insurance	insurance	NOUN
cblr-1707	954	45	regulation	regulation	NOUN
cblr-1707	954	46	,	,	PUNCT
cblr-1707	954	47	defining	define	VERB
cblr-1707	954	48	“	"	PUNCT
cblr-1707	954	49	insurance	insurance	NOUN
cblr-1707	954	50	”	"	PUNCT
cblr-1707	954	51	is	be	AUX
cblr-1707	954	52	among	among	ADP
cblr-1707	954	53	the	the	DET
cblr-1707	954	54	most	most	ADV
cblr-1707	954	55	basic	basic	ADJ
cblr-1707	954	56	tasks.161	tasks.161	NUM
cblr-1707	954	57	to	to	PART
cblr-1707	954	58	regulate	regulate	VERB
cblr-1707	954	59	swaps	swap	NOUN
cblr-1707	954	60	,	,	PUNCT
cblr-1707	954	61	the	the	DET
cblr-1707	954	62	law	law	NOUN
cblr-1707	954	63	must	must	AUX
cblr-1707	954	64	define	define	VERB
cblr-1707	954	65	a	a	DET
cblr-1707	954	66	154	154	NUM
cblr-1707	954	67	an	an	DET
cblr-1707	954	68	important	important	ADJ
cblr-1707	954	69	exception	exception	NOUN
cblr-1707	954	70	is	be	AUX
cblr-1707	954	71	jonathan	jonathan	PROPN
cblr-1707	954	72	r.	r.	PROPN
cblr-1707	954	73	macey	macey	PROPN
cblr-1707	954	74	&	&	CCONJ
cblr-1707	954	75	geoffrey	geoffrey	PROPN
cblr-1707	954	76	p.	p.	PROPN
cblr-1707	954	77	miller	miller	PROPN
cblr-1707	954	78	,	,	PUNCT
cblr-1707	954	79	nondeposit	nondeposit	NOUN
cblr-1707	954	80	deposits	deposit	NOUN
cblr-1707	954	81	and	and	CCONJ
cblr-1707	954	82	the	the	DET
cblr-1707	954	83	future	future	NOUN
cblr-1707	954	84	of	of	ADP
cblr-1707	954	85	bank	bank	NOUN
cblr-1707	954	86	regulation	regulation	NOUN
cblr-1707	954	87	,	,	PUNCT
cblr-1707	954	88	91	91	NUM
cblr-1707	954	89	mich	mich	PROPN
cblr-1707	954	90	.	.	PUNCT
cblr-1707	955	1	l.	l.	PROPN
cblr-1707	955	2	rev	rev	PROPN
cblr-1707	955	3	.	.	PROPN
cblr-1707	955	4	237	237	NUM
cblr-1707	955	5	(	(	PUNCT
cblr-1707	955	6	1992	1992	NUM
cblr-1707	955	7	)	)	PUNCT
cblr-1707	955	8	.	.	PUNCT
cblr-1707	956	1	for	for	ADP
cblr-1707	956	2	a	a	DET
cblr-1707	956	3	practitioner	practitioner	NOUN
cblr-1707	956	4	’s	’s	PART
cblr-1707	956	5	perspective	perspective	NOUN
cblr-1707	956	6	,	,	PUNCT
cblr-1707	956	7	see	see	VERB
cblr-1707	956	8	peter	peter	PROPN
cblr-1707	956	9	s.	s.	PROPN
cblr-1707	956	10	smedresman	smedresman	PROPN
cblr-1707	956	11	,	,	PUNCT
cblr-1707	956	12	bank	bank	NOUN
cblr-1707	956	13	deposits	deposit	NOUN
cblr-1707	956	14	–	–	PUNCT
cblr-1707	956	15	a	a	DET
cblr-1707	956	16	troublesome	troublesome	ADJ
cblr-1707	956	17	evolution	evolution	NOUN
cblr-1707	956	18	,	,	PUNCT
cblr-1707	956	19	35	35	NUM
cblr-1707	956	20	int’l	int’l	NUM
cblr-1707	956	21	fin	fin	NOUN
cblr-1707	956	22	.	.	PUNCT
cblr-1707	957	1	l.	l.	PROPN
cblr-1707	957	2	rev	rev	PROPN
cblr-1707	957	3	.	.	PROPN
cblr-1707	957	4	50	50	NUM
cblr-1707	957	5	,	,	PUNCT
cblr-1707	957	6	50	50	NUM
cblr-1707	957	7	(	(	PUNCT
cblr-1707	957	8	july	july	PROPN
cblr-1707	957	9	2016	2016	NUM
cblr-1707	957	10	)	)	PUNCT
cblr-1707	957	11	(	(	PUNCT
cblr-1707	957	12	“	"	PUNCT
cblr-1707	957	13	the	the	DET
cblr-1707	957	14	privilege	privilege	NOUN
cblr-1707	957	15	of	of	ADP
cblr-1707	957	16	accepting	accept	VERB
cblr-1707	957	17	deposits	deposit	NOUN
cblr-1707	957	18	from	from	ADP
cblr-1707	957	19	the	the	DET
cblr-1707	957	20	public	public	NOUN
cblr-1707	957	21	is	be	AUX
cblr-1707	957	22	the	the	DET
cblr-1707	957	23	exclusive	exclusive	ADJ
cblr-1707	957	24	franchise	franchise	NOUN
cblr-1707	957	25	of	of	ADP
cblr-1707	957	26	the	the	DET
cblr-1707	957	27	commercial	commercial	ADJ
cblr-1707	957	28	banking	banking	NOUN
cblr-1707	957	29	sector	sector	NOUN
cblr-1707	957	30	,	,	PUNCT
cblr-1707	957	31	under	under	ADP
cblr-1707	957	32	authority	authority	NOUN
cblr-1707	957	33	granted	grant	VERB
cblr-1707	957	34	by	by	ADP
cblr-1707	957	35	bank	bank	NOUN
cblr-1707	957	36	regulators	regulator	NOUN
cblr-1707	957	37	.	.	PUNCT
cblr-1707	957	38	.	.	PUNCT
cblr-1707	957	39	.	.	PUNCT
cblr-1707	958	1	.	.	PUNCT
cblr-1707	959	1	there	there	PRON
cblr-1707	959	2	is	be	VERB
cblr-1707	959	3	remarkably	remarkably	ADV
cblr-1707	959	4	little	little	ADJ
cblr-1707	959	5	law	law	NOUN
cblr-1707	959	6	,	,	PUNCT
cblr-1707	959	7	however	however	ADV
cblr-1707	959	8	,	,	PUNCT
cblr-1707	959	9	that	that	PRON
cblr-1707	959	10	helps	help	VERB
cblr-1707	959	11	to	to	PART
cblr-1707	959	12	clearly	clearly	ADV
cblr-1707	959	13	distinguish	distinguish	VERB
cblr-1707	959	14	a	a	DET
cblr-1707	959	15	deposit	deposit	NOUN
cblr-1707	959	16	from	from	ADP
cblr-1707	959	17	other	other	ADJ
cblr-1707	959	18	debt	debt	NOUN
cblr-1707	959	19	obligations	obligation	NOUN
cblr-1707	959	20	,	,	PUNCT
cblr-1707	959	21	of	of	ADP
cblr-1707	959	22	a	a	DET
cblr-1707	959	23	bank	bank	NOUN
cblr-1707	959	24	or	or	CCONJ
cblr-1707	959	25	otherwise	otherwise	ADV
cblr-1707	959	26	.	.	PUNCT
cblr-1707	959	27	”	"	PUNCT
cblr-1707	959	28	)	)	PUNCT
cblr-1707	959	29	.	.	PUNCT
cblr-1707	960	1	155	155	NUM
cblr-1707	960	2	see	see	VERB
cblr-1707	960	3	howell	howell	PROPN
cblr-1707	960	4	e.	e.	PROPN
cblr-1707	960	5	jackson	jackson	PROPN
cblr-1707	960	6	,	,	PUNCT
cblr-1707	960	7	regulation	regulation	NOUN
cblr-1707	960	8	in	in	ADP
cblr-1707	960	9	a	a	DET
cblr-1707	960	10	multisectored	multisectore	VERB
cblr-1707	960	11	financial	financial	ADJ
cblr-1707	960	12	services	service	NOUN
cblr-1707	960	13	industry	industry	NOUN
cblr-1707	960	14	:	:	PUNCT
cblr-1707	960	15	an	an	DET
cblr-1707	960	16	exploratory	exploratory	ADJ
cblr-1707	960	17	essay	essay	NOUN
cblr-1707	960	18	,	,	PUNCT
cblr-1707	960	19	77	77	NUM
cblr-1707	960	20	wash	wash	NOUN
cblr-1707	960	21	.	.	PUNCT
cblr-1707	961	1	u.	u.	PROPN
cblr-1707	961	2	l.q	l.q	PROPN
cblr-1707	961	3	.	.	PROPN
cblr-1707	961	4	319	319	NUM
cblr-1707	961	5	,	,	PUNCT
cblr-1707	961	6	367–71	367–71	NOUN
cblr-1707	961	7	(	(	PUNCT
cblr-1707	961	8	1999	1999	NUM
cblr-1707	961	9	)	)	PUNCT
cblr-1707	961	10	.	.	PUNCT
cblr-1707	962	1	156	156	NUM
cblr-1707	962	2	see	see	VERB
cblr-1707	962	3	15	15	NUM
cblr-1707	962	4	u.s.c	u.s.c	ADJ
cblr-1707	962	5	.	.	PUNCT
cblr-1707	963	1	§	§	PROPN
cblr-1707	963	2	77b(a)(1	77b(a)(1	NUM
cblr-1707	963	3	)	)	PUNCT
cblr-1707	963	4	(	(	PUNCT
cblr-1707	963	5	2012	2012	NUM
cblr-1707	963	6	)	)	PUNCT
cblr-1707	963	7	.	.	PUNCT
cblr-1707	964	1	157	157	NUM
cblr-1707	964	2	see	see	VERB
cblr-1707	964	3	,	,	PUNCT
cblr-1707	964	4	e.g.	e.g.	ADV
cblr-1707	964	5	,	,	PUNCT
cblr-1707	964	6	sec	sec	PROPN
cblr-1707	964	7	v.	v.	PROPN
cblr-1707	964	8	w.j	w.j	PROPN
cblr-1707	964	9	.	.	PROPN
cblr-1707	964	10	howey	howey	PROPN
cblr-1707	964	11	co.	co.	PROPN
cblr-1707	964	12	,	,	PUNCT
cblr-1707	964	13	328	328	NUM
cblr-1707	964	14	u.s	u.s	PROPN
cblr-1707	964	15	.	.	PROPN
cblr-1707	964	16	293	293	NUM
cblr-1707	964	17	(	(	PUNCT
cblr-1707	964	18	1946	1946	NUM
cblr-1707	964	19	)	)	PUNCT
cblr-1707	964	20	.	.	PUNCT
cblr-1707	965	1	158	158	NUM
cblr-1707	965	2	see	see	VERB
cblr-1707	965	3	15	15	NUM
cblr-1707	965	4	u.s.c	u.s.c	ADJ
cblr-1707	965	5	.	.	PUNCT
cblr-1707	966	1	§	§	PROPN
cblr-1707	966	2	80a-3(a)(1	80a-3(a)(1	NUM
cblr-1707	966	3	)	)	PUNCT
cblr-1707	966	4	(	(	PUNCT
cblr-1707	966	5	2012	2012	NUM
cblr-1707	966	6	)	)	PUNCT
cblr-1707	966	7	.	.	PUNCT
cblr-1707	967	1	159	159	NUM
cblr-1707	967	2	see	see	VERB
cblr-1707	967	3	,	,	PUNCT
cblr-1707	967	4	e.g.	e.g.	ADV
cblr-1707	967	5	,	,	PUNCT
cblr-1707	967	6	sec	sec	PROPN
cblr-1707	967	7	v.	v.	ADP
cblr-1707	967	8	nat’l	nat’l	PROPN
cblr-1707	967	9	presto	presto	PROPN
cblr-1707	967	10	indus	indus	PROPN
cblr-1707	967	11	.	.	PROPN
cblr-1707	967	12	,	,	PUNCT
cblr-1707	967	13	inc	inc	PROPN
cblr-1707	967	14	.	.	PROPN
cblr-1707	967	15	,	,	PUNCT
cblr-1707	967	16	486	486	NUM
cblr-1707	967	17	f.3d	f.3d	NUM
cblr-1707	967	18	305	305	NUM
cblr-1707	967	19	(	(	PUNCT
cblr-1707	967	20	7th	7th	ADJ
cblr-1707	967	21	cir	cir	NOUN
cblr-1707	967	22	.	.	PUNCT
cblr-1707	967	23	2007	2007	NUM
cblr-1707	967	24	)	)	PUNCT
cblr-1707	967	25	.	.	PUNCT
cblr-1707	968	1	160	160	NUM
cblr-1707	968	2	see	see	VERB
cblr-1707	968	3	,	,	PUNCT
cblr-1707	968	4	e.g.	e.g.	ADV
cblr-1707	968	5	,	,	PUNCT
cblr-1707	968	6	edmund	edmund	PROPN
cblr-1707	968	7	h.	h.	PROPN
cblr-1707	968	8	kerr	kerr	PROPN
cblr-1707	968	9	,	,	PUNCT
cblr-1707	968	10	the	the	DET
cblr-1707	968	11	inadvertent	inadvertent	ADJ
cblr-1707	968	12	investment	investment	NOUN
cblr-1707	968	13	company	company	NOUN
cblr-1707	968	14	:	:	PUNCT
cblr-1707	968	15	section	section	NOUN
cblr-1707	968	16	3(a)(3	3(a)(3	NUM
cblr-1707	968	17	)	)	PUNCT
cblr-1707	968	18	of	of	ADP
cblr-1707	968	19	the	the	DET
cblr-1707	968	20	investment	investment	NOUN
cblr-1707	968	21	company	company	NOUN
cblr-1707	968	22	act	act	NOUN
cblr-1707	968	23	,	,	PUNCT
cblr-1707	968	24	12	12	NUM
cblr-1707	968	25	stan	stan	PROPN
cblr-1707	968	26	.	.	PUNCT
cblr-1707	969	1	l.	l.	PROPN
cblr-1707	969	2	rev	rev	PROPN
cblr-1707	969	3	.	.	PROPN
cblr-1707	969	4	29	29	NUM
cblr-1707	969	5	(	(	PUNCT
cblr-1707	969	6	1959	1959	NUM
cblr-1707	969	7	)	)	PUNCT
cblr-1707	969	8	.	.	PUNCT
cblr-1707	970	1	161	161	NUM
cblr-1707	970	2	see	see	NOUN
cblr-1707	970	3	tom	tom	PROPN
cblr-1707	970	4	baker	baker	PROPN
cblr-1707	970	5	&	&	CCONJ
cblr-1707	970	6	kyle	kyle	PROPN
cblr-1707	970	7	d.	d.	PROPN
cblr-1707	970	8	logue	logue	PROPN
cblr-1707	970	9	,	,	PUNCT
cblr-1707	970	10	insurance	insurance	NOUN
cblr-1707	970	11	law	law	NOUN
cblr-1707	970	12	and	and	CCONJ
cblr-1707	970	13	policy	policy	NOUN
cblr-1707	970	14	622	622	NUM
cblr-1707	970	15	(	(	PUNCT
cblr-1707	970	16	4th	4th	ADJ
cblr-1707	970	17	ed	ed	NOUN
cblr-1707	970	18	.	.	PROPN
cblr-1707	970	19	2017	2017	NUM
cblr-1707	970	20	)	)	PUNCT
cblr-1707	970	21	(	(	PUNCT
cblr-1707	970	22	“	"	PUNCT
cblr-1707	970	23	whatever	whatever	PRON
cblr-1707	970	24	the	the	DET
cblr-1707	970	25	content	content	NOUN
cblr-1707	970	26	of	of	ADP
cblr-1707	970	27	insurance	insurance	NOUN
cblr-1707	970	28	regulation	regulation	NOUN
cblr-1707	970	29	,	,	PUNCT
cblr-1707	970	30	there	there	PRON
cblr-1707	970	31	is	be	VERB
cblr-1707	970	32	a	a	DET
cblr-1707	970	33	need	need	NOUN
cblr-1707	970	34	to	to	PART
cblr-1707	970	35	determine	determine	VERB
cblr-1707	970	36	the	the	DET
cblr-1707	970	37	range	range	NOUN
cblr-1707	970	38	of	of	ADP
cblr-1707	970	39	economic	economic	ADJ
cblr-1707	970	40	activity	activity	NOUN
cblr-1707	970	41	to	to	PART
cblr-1707	970	42	which	which	PRON
cblr-1707	970	43	that	that	DET
cblr-1707	970	44	regulation	regulation	NOUN
cblr-1707	970	45	applies	apply	VERB
cblr-1707	970	46	.	.	PUNCT
cblr-1707	970	47	.	.	PUNCT
cblr-1707	970	48	.	.	PUNCT
cblr-1707	970	49	.	.	PUNCT
cblr-1707	971	1	[	[	X
cblr-1707	971	2	t]he	t]he	X
cblr-1707	971	3	definition	definition	NOUN
cblr-1707	971	4	of	of	ADP
cblr-1707	971	5	the	the	DET
cblr-1707	971	6	term	term	NOUN
cblr-1707	971	7	‘	'	PUNCT
cblr-1707	971	8	insurance	insurance	NOUN
cblr-1707	971	9	’	'	PUNCT
cblr-1707	971	10	is	be	AUX
cblr-1707	971	11	central	central	ADJ
cblr-1707	971	12	to	to	ADP
cblr-1707	971	13	determining	determine	VERB
cblr-1707	971	14	the	the	DET
cblr-1707	971	15	jurisdiction	jurisdiction	NOUN
cblr-1707	971	16	of	of	ADP
cblr-1707	971	17	state	state	NOUN
cblr-1707	971	18	‘	'	PUNCT
cblr-1707	971	19	insurance	insurance	NOUN
cblr-1707	971	20	’	'	PUNCT
cblr-1707	971	21	departments	department	NOUN
cblr-1707	971	22	.	.	PUNCT
cblr-1707	971	23	”	"	PUNCT
cblr-1707	971	24	)	)	PUNCT
cblr-1707	971	25	.	.	PUNCT
cblr-1707	972	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	972	2	no	no	NOUN
cblr-1707	972	3	.	.	PUNCT
cblr-1707	973	1	3:757	3:757	NUM
cblr-1707	973	2	]	]	X
cblr-1707	973	3	money	money	NOUN
cblr-1707	973	4	as	as	ADP
cblr-1707	973	5	infrastructure	infrastructure	NOUN
cblr-1707	973	6	811	811	NUM
cblr-1707	973	7	swap.162	swap.162	NOUN
cblr-1707	973	8	to	to	PART
cblr-1707	973	9	regulate	regulate	VERB
cblr-1707	973	10	proprietary	proprietary	ADJ
cblr-1707	973	11	trading	trading	NOUN
cblr-1707	973	12	,	,	PUNCT
cblr-1707	973	13	the	the	DET
cblr-1707	973	14	law	law	NOUN
cblr-1707	973	15	must	must	AUX
cblr-1707	973	16	define	define	VERB
cblr-1707	973	17	proprietary	proprietary	ADJ
cblr-1707	973	18	trading.163	trading.163	NOUN
cblr-1707	973	19	this	this	DET
cblr-1707	973	20	list	list	NOUN
cblr-1707	973	21	could	could	AUX
cblr-1707	973	22	continue	continue	VERB
cblr-1707	973	23	indefinitely	indefinitely	ADV
cblr-1707	973	24	.	.	PUNCT
cblr-1707	974	1	in	in	ADP
cblr-1707	974	2	each	each	PRON
cblr-1707	974	3	of	of	ADP
cblr-1707	974	4	these	these	DET
cblr-1707	974	5	regulatory	regulatory	ADJ
cblr-1707	974	6	fields	field	NOUN
cblr-1707	974	7	,	,	PUNCT
cblr-1707	974	8	the	the	DET
cblr-1707	974	9	inescapable	inescapable	ADJ
cblr-1707	974	10	starting	starting	NOUN
cblr-1707	974	11	point	point	NOUN
cblr-1707	974	12	is	be	AUX
cblr-1707	974	13	to	to	PART
cblr-1707	974	14	define	define	VERB
cblr-1707	974	15	in	in	ADP
cblr-1707	974	16	functional	functional	ADJ
cblr-1707	974	17	terms	term	NOUN
cblr-1707	974	18	what	what	PRON
cblr-1707	974	19	is	be	AUX
cblr-1707	974	20	to	to	PART
cblr-1707	974	21	be	be	AUX
cblr-1707	974	22	regulated	regulate	VERB
cblr-1707	974	23	.	.	PUNCT
cblr-1707	975	1	for	for	ADP
cblr-1707	975	2	whatever	whatever	DET
cblr-1707	975	3	reason	reason	NOUN
cblr-1707	975	4	,	,	PUNCT
cblr-1707	975	5	there	there	PRON
cblr-1707	975	6	has	have	AUX
cblr-1707	975	7	been	be	AUX
cblr-1707	975	8	no	no	DET
cblr-1707	975	9	comparable	comparable	ADJ
cblr-1707	975	10	endeavor	endeavor	NOUN
cblr-1707	975	11	in	in	ADP
cblr-1707	975	12	the	the	DET
cblr-1707	975	13	law	law	NOUN
cblr-1707	975	14	of	of	ADP
cblr-1707	975	15	“	"	PUNCT
cblr-1707	975	16	deposit	deposit	NOUN
cblr-1707	975	17	”	"	PUNCT
cblr-1707	975	18	claims	claim	NOUN
cblr-1707	975	19	.	.	PUNCT
cblr-1707	976	1	true	true	ADJ
cblr-1707	976	2	,	,	PUNCT
cblr-1707	976	3	federal	federal	ADJ
cblr-1707	976	4	statutory	statutory	ADJ
cblr-1707	976	5	law	law	NOUN
cblr-1707	976	6	does	do	AUX
cblr-1707	976	7	define	define	VERB
cblr-1707	976	8	“	"	PUNCT
cblr-1707	976	9	deposit	deposit	NOUN
cblr-1707	976	10	”	"	PUNCT
cblr-1707	976	11	for	for	ADP
cblr-1707	976	12	purposes	purpose	NOUN
cblr-1707	976	13	of	of	ADP
cblr-1707	976	14	deposit	deposit	NOUN
cblr-1707	976	15	insurance	insurance	NOUN
cblr-1707	976	16	(	(	PUNCT
cblr-1707	976	17	as	as	ADP
cblr-1707	976	18	distinct	distinct	ADJ
cblr-1707	976	19	from	from	ADP
cblr-1707	976	20	entry	entry	NOUN
cblr-1707	976	21	restriction	restriction	NOUN
cblr-1707	976	22	)	)	PUNCT
cblr-1707	976	23	.	.	PUNCT
cblr-1707	977	1	under	under	ADP
cblr-1707	977	2	the	the	DET
cblr-1707	977	3	federal	federal	ADJ
cblr-1707	977	4	deposit	deposit	NOUN
cblr-1707	977	5	insurance	insurance	PROPN
cblr-1707	977	6	act	act	NOUN
cblr-1707	977	7	(	(	PUNCT
cblr-1707	977	8	“	"	PUNCT
cblr-1707	977	9	fdia	fdia	PROPN
cblr-1707	977	10	”	"	PUNCT
cblr-1707	977	11	)	)	PUNCT
cblr-1707	977	12	,	,	PUNCT
cblr-1707	977	13	a	a	DET
cblr-1707	977	14	“	"	PUNCT
cblr-1707	977	15	deposit	deposit	NOUN
cblr-1707	977	16	”	"	PUNCT
cblr-1707	977	17	is	be	AUX
cblr-1707	977	18	“	"	PUNCT
cblr-1707	977	19	money	money	NOUN
cblr-1707	977	20	or	or	CCONJ
cblr-1707	977	21	its	its	PRON
cblr-1707	977	22	equivalent	equivalent	NOUN
cblr-1707	977	23	received	receive	VERB
cblr-1707	977	24	or	or	CCONJ
cblr-1707	977	25	held	hold	VERB
cblr-1707	977	26	by	by	ADP
cblr-1707	977	27	a	a	DET
cblr-1707	977	28	bank	bank	NOUN
cblr-1707	977	29	.	.	PUNCT
cblr-1707	977	30	.	.	PUNCT
cblr-1707	977	31	.	.	PUNCT
cblr-1707	978	1	for	for	ADP
cblr-1707	978	2	which	which	PRON
cblr-1707	978	3	it	it	PRON
cblr-1707	978	4	has	have	AUX
cblr-1707	978	5	given	give	VERB
cblr-1707	978	6	or	or	CCONJ
cblr-1707	978	7	is	be	AUX
cblr-1707	978	8	obligated	obligate	VERB
cblr-1707	978	9	to	to	PART
cblr-1707	978	10	give	give	VERB
cblr-1707	978	11	credit	credit	NOUN
cblr-1707	978	12	.	.	PUNCT
cblr-1707	978	13	.	.	PUNCT
cblr-1707	978	14	.	.	PUNCT
cblr-1707	979	1	to	to	ADP
cblr-1707	979	2	.	.	PUNCT
cblr-1707	979	3	.	.	PUNCT
cblr-1707	979	4	.	.	PUNCT
cblr-1707	980	1	[	[	X
cblr-1707	980	2	an	an	X
cblr-1707	980	3	]	]	PUNCT
cblr-1707	980	4	account[.]”164	account[.]”164	NOUN
cblr-1707	980	5	as	as	ADP
cblr-1707	980	6	a	a	DET
cblr-1707	980	7	matter	matter	NOUN
cblr-1707	980	8	of	of	ADP
cblr-1707	980	9	statutory	statutory	ADJ
cblr-1707	980	10	construction	construction	NOUN
cblr-1707	980	11	,	,	PUNCT
cblr-1707	980	12	few	few	ADJ
cblr-1707	980	13	would	would	AUX
cblr-1707	980	14	object	object	VERB
cblr-1707	980	15	to	to	ADP
cblr-1707	980	16	importing	import	VERB
cblr-1707	980	17	this	this	DET
cblr-1707	980	18	definition	definition	NOUN
cblr-1707	980	19	into	into	ADP
cblr-1707	980	20	the	the	DET
cblr-1707	980	21	entry	entry	NOUN
cblr-1707	980	22	restriction	restriction	NOUN
cblr-1707	980	23	section	section	NOUN
cblr-1707	980	24	,	,	PUNCT
cblr-1707	980	25	where	where	SCONJ
cblr-1707	980	26	“	"	PUNCT
cblr-1707	980	27	deposit	deposit	NOUN
cblr-1707	980	28	”	"	PUNCT
cblr-1707	980	29	is	be	AUX
cblr-1707	980	30	left	leave	VERB
cblr-1707	980	31	undefined	undefined	ADJ
cblr-1707	980	32	.	.	PUNCT
cblr-1707	981	1	but	but	CCONJ
cblr-1707	981	2	would	would	AUX
cblr-1707	981	3	this	this	DET
cblr-1707	981	4	help	help	NOUN
cblr-1707	981	5	at	at	ADV
cblr-1707	981	6	all	all	ADV
cblr-1707	981	7	?	?	PUNCT
cblr-1707	982	1	note	note	VERB
cblr-1707	982	2	,	,	PUNCT
cblr-1707	982	3	first	first	ADV
cblr-1707	982	4	,	,	PUNCT
cblr-1707	982	5	a	a	DET
cblr-1707	982	6	basic	basic	ADJ
cblr-1707	982	7	confusion	confusion	NOUN
cblr-1707	982	8	within	within	ADP
cblr-1707	982	9	the	the	DET
cblr-1707	982	10	fdia	fdia	NOUN
cblr-1707	982	11	’s	’s	PART
cblr-1707	982	12	definition	definition	NOUN
cblr-1707	982	13	:	:	PUNCT
cblr-1707	982	14	it	it	PRON
cblr-1707	982	15	defines	define	VERB
cblr-1707	982	16	“	"	PUNCT
cblr-1707	982	17	deposit	deposit	NOUN
cblr-1707	982	18	”	"	PUNCT
cblr-1707	982	19	in	in	ADP
cblr-1707	982	20	terms	term	NOUN
cblr-1707	982	21	of	of	ADP
cblr-1707	982	22	what	what	PRON
cblr-1707	982	23	the	the	DET
cblr-1707	982	24	bank	bank	NOUN
cblr-1707	982	25	received	receive	VERB
cblr-1707	982	26	instead	instead	ADV
cblr-1707	982	27	of	of	ADP
cblr-1707	982	28	the	the	DET
cblr-1707	982	29	characteristics	characteristic	NOUN
cblr-1707	982	30	of	of	ADP
cblr-1707	982	31	the	the	DET
cblr-1707	982	32	deposit	deposit	NOUN
cblr-1707	982	33	claim	claim	VERB
cblr-1707	982	34	itself	itself	PRON
cblr-1707	982	35	.	.	PUNCT
cblr-1707	983	1	no	no	DET
cblr-1707	983	2	one	one	NOUN
cblr-1707	983	3	would	would	AUX
cblr-1707	983	4	fathom	fathom	VERB
cblr-1707	983	5	defining	define	VERB
cblr-1707	983	6	“	"	PUNCT
cblr-1707	983	7	security	security	NOUN
cblr-1707	983	8	”	"	PUNCT
cblr-1707	983	9	in	in	ADP
cblr-1707	983	10	terms	term	NOUN
cblr-1707	983	11	of	of	ADP
cblr-1707	983	12	what	what	PRON
cblr-1707	983	13	the	the	DET
cblr-1707	983	14	issuer	issuer	NOUN
cblr-1707	983	15	received	receive	VERB
cblr-1707	983	16	.	.	PUNCT
cblr-1707	984	1	whether	whether	SCONJ
cblr-1707	984	2	a	a	DET
cblr-1707	984	3	share	share	NOUN
cblr-1707	984	4	of	of	ADP
cblr-1707	984	5	stock	stock	NOUN
cblr-1707	984	6	is	be	AUX
cblr-1707	984	7	issued	issue	VERB
cblr-1707	984	8	in	in	ADP
cblr-1707	984	9	exchange	exchange	NOUN
cblr-1707	984	10	for	for	ADP
cblr-1707	984	11	cash	cash	NOUN
cblr-1707	984	12	or	or	CCONJ
cblr-1707	984	13	noncash	noncash	NOUN
cblr-1707	984	14	consideration	consideration	NOUN
cblr-1707	984	15	(	(	PUNCT
cblr-1707	984	16	labor	labor	NOUN
cblr-1707	984	17	,	,	PUNCT
cblr-1707	984	18	tangible	tangible	ADJ
cblr-1707	984	19	or	or	CCONJ
cblr-1707	984	20	intangible	intangible	ADJ
cblr-1707	984	21	assets	asset	NOUN
cblr-1707	984	22	,	,	PUNCT
cblr-1707	984	23	other	other	ADJ
cblr-1707	984	24	securities	security	NOUN
cblr-1707	984	25	,	,	PUNCT
cblr-1707	984	26	whatever	whatever	PRON
cblr-1707	984	27	)	)	PUNCT
cblr-1707	984	28	obviously	obviously	ADV
cblr-1707	984	29	has	have	VERB
cblr-1707	984	30	no	no	DET
cblr-1707	984	31	bearing	bearing	NOUN
cblr-1707	984	32	on	on	ADP
cblr-1707	984	33	whether	whether	SCONJ
cblr-1707	984	34	it	it	PRON
cblr-1707	984	35	is	be	AUX
cblr-1707	984	36	a	a	DET
cblr-1707	984	37	share	share	NOUN
cblr-1707	984	38	of	of	ADP
cblr-1707	984	39	stock	stock	NOUN
cblr-1707	984	40	.	.	PUNCT
cblr-1707	985	1	a	a	DET
cblr-1707	985	2	deposit	deposit	NOUN
cblr-1707	985	3	balance	balance	NOUN
cblr-1707	985	4	,	,	PUNCT
cblr-1707	985	5	like	like	ADP
cblr-1707	985	6	a	a	DET
cblr-1707	985	7	share	share	NOUN
cblr-1707	985	8	of	of	ADP
cblr-1707	985	9	stock	stock	NOUN
cblr-1707	985	10	,	,	PUNCT
cblr-1707	985	11	is	be	AUX
cblr-1707	985	12	a	a	DET
cblr-1707	985	13	claim	claim	NOUN
cblr-1707	985	14	on	on	ADP
cblr-1707	985	15	an	an	DET
cblr-1707	985	16	entity	entity	NOUN
cblr-1707	985	17	,	,	PUNCT
cblr-1707	985	18	and	and	CCONJ
cblr-1707	985	19	it	it	PRON
cblr-1707	985	20	seems	seem	VERB
cblr-1707	985	21	self	self	NOUN
cblr-1707	985	22	-	-	PUNCT
cblr-1707	985	23	evident	evident	ADJ
cblr-1707	985	24	that	that	SCONJ
cblr-1707	985	25	the	the	DET
cblr-1707	985	26	same	same	ADJ
cblr-1707	985	27	principle	principle	NOUN
cblr-1707	985	28	should	should	AUX
cblr-1707	985	29	apply	apply	VERB
cblr-1707	985	30	.	.	PUNCT
cblr-1707	986	1	to	to	PART
cblr-1707	986	2	be	be	AUX
cblr-1707	986	3	concrete	concrete	ADJ
cblr-1707	986	4	,	,	PUNCT
cblr-1707	986	5	if	if	SCONJ
cblr-1707	986	6	a	a	DET
cblr-1707	986	7	deposit	deposit	NOUN
cblr-1707	986	8	balance	balance	NOUN
cblr-1707	986	9	is	be	AUX
cblr-1707	986	10	credited	credit	VERB
cblr-1707	986	11	in	in	ADP
cblr-1707	986	12	exchange	exchange	NOUN
cblr-1707	986	13	for	for	ADP
cblr-1707	986	14	a	a	DET
cblr-1707	986	15	loan	loan	NOUN
cblr-1707	986	16	receivable	receivable	NOUN
cblr-1707	986	17	—	—	PUNCT
cblr-1707	986	18	the	the	DET
cblr-1707	986	19	usual	usual	ADJ
cblr-1707	986	20	and	and	CCONJ
cblr-1707	986	21	customary	customary	ADJ
cblr-1707	986	22	way	way	NOUN
cblr-1707	986	23	banks	bank	NOUN
cblr-1707	986	24	make	make	VERB
cblr-1707	986	25	loans	loan	NOUN
cblr-1707	986	26	—	—	PUNCT
cblr-1707	986	27	presumably	presumably	ADV
cblr-1707	986	28	the	the	DET
cblr-1707	986	29	claim	claim	NOUN
cblr-1707	986	30	is	be	AUX
cblr-1707	986	31	still	still	ADV
cblr-1707	986	32	a	a	DET
cblr-1707	986	33	“	"	PUNCT
cblr-1707	986	34	deposit	deposit	NOUN
cblr-1707	986	35	”	"	PUNCT
cblr-1707	986	36	even	even	ADV
cblr-1707	986	37	though	though	SCONJ
cblr-1707	986	38	“	"	PUNCT
cblr-1707	986	39	money	money	NOUN
cblr-1707	986	40	or	or	CCONJ
cblr-1707	986	41	its	its	PRON
cblr-1707	986	42	equivalent	equivalent	NOUN
cblr-1707	986	43	”	"	PUNCT
cblr-1707	986	44	was	be	AUX
cblr-1707	986	45	n’t	not	PART
cblr-1707	986	46	“	"	PUNCT
cblr-1707	986	47	received	receive	VERB
cblr-1707	986	48	”	"	PUNCT
cblr-1707	986	49	by	by	ADP
cblr-1707	986	50	the	the	DET
cblr-1707	986	51	bank	bank	NOUN
cblr-1707	986	52	.	.	PUNCT
cblr-1707	987	1	in	in	ADP
cblr-1707	987	2	short	short	ADJ
cblr-1707	987	3	,	,	PUNCT
cblr-1707	987	4	it	it	PRON
cblr-1707	987	5	is	be	AUX
cblr-1707	987	6	hard	hard	ADJ
cblr-1707	987	7	to	to	PART
cblr-1707	987	8	conceive	conceive	VERB
cblr-1707	987	9	of	of	ADP
cblr-1707	987	10	any	any	DET
cblr-1707	987	11	reason	reason	NOUN
cblr-1707	987	12	why	why	SCONJ
cblr-1707	987	13	the	the	DET
cblr-1707	987	14	asset	asset	NOUN
cblr-1707	987	15	an	an	DET
cblr-1707	987	16	entity	entity	NOUN
cblr-1707	987	17	receives	receive	VERB
cblr-1707	987	18	(	(	PUNCT
cblr-1707	987	19	or	or	CCONJ
cblr-1707	987	20	accepts	accept	VERB
cblr-1707	987	21	or	or	CCONJ
cblr-1707	987	22	takes	take	VERB
cblr-1707	987	23	)	)	PUNCT
cblr-1707	987	24	in	in	ADP
cblr-1707	987	25	exchange	exchange	NOUN
cblr-1707	987	26	for	for	ADP
cblr-1707	987	27	incurring	incur	VERB
cblr-1707	987	28	a	a	DET
cblr-1707	987	29	liability	liability	NOUN
cblr-1707	987	30	should	should	AUX
cblr-1707	987	31	determine	determine	VERB
cblr-1707	987	32	the	the	DET
cblr-1707	987	33	legal	legal	ADJ
cblr-1707	987	34	substance	substance	NOUN
cblr-1707	987	35	of	of	ADP
cblr-1707	987	36	the	the	DET
cblr-1707	987	37	liability	liability	NOUN
cblr-1707	987	38	itself	itself	PRON
cblr-1707	987	39	.	.	PUNCT
cblr-1707	988	1	courts	court	NOUN
cblr-1707	988	2	have	have	AUX
cblr-1707	988	3	proved	prove	VERB
cblr-1707	988	4	susceptible	susceptible	ADJ
cblr-1707	988	5	to	to	ADP
cblr-1707	988	6	this	this	DET
cblr-1707	988	7	confusion	confusion	NOUN
cblr-1707	988	8	.	.	PUNCT
cblr-1707	989	1	when	when	SCONJ
cblr-1707	989	2	called	call	VERB
cblr-1707	989	3	upon	upon	SCONJ
cblr-1707	989	4	to	to	PART
cblr-1707	989	5	interpret	interpret	VERB
cblr-1707	989	6	the	the	DET
cblr-1707	989	7	fdia	fdia	NOUN
cblr-1707	989	8	’s	’s	PART
cblr-1707	989	9	“	"	PUNCT
cblr-1707	989	10	deposit	deposit	NOUN
cblr-1707	989	11	”	"	PUNCT
cblr-1707	989	12	definition	definition	NOUN
cblr-1707	989	13	,	,	PUNCT
cblr-1707	989	14	the	the	DET
cblr-1707	989	15	162	162	NUM
cblr-1707	989	16	see	see	VERB
cblr-1707	989	17	7	7	NUM
cblr-1707	989	18	u.s.c	u.s.c	ADJ
cblr-1707	989	19	.	.	PUNCT
cblr-1707	990	1	§	§	PROPN
cblr-1707	990	2	1a(47	1a(47	NUM
cblr-1707	990	3	)	)	PUNCT
cblr-1707	990	4	(	(	PUNCT
cblr-1707	990	5	2012	2012	NUM
cblr-1707	990	6	)	)	PUNCT
cblr-1707	990	7	.	.	PUNCT
cblr-1707	991	1	163	163	NUM
cblr-1707	991	2	see	see	VERB
cblr-1707	991	3	dodd	dodd	PROPN
cblr-1707	991	4	-	-	PUNCT
cblr-1707	991	5	frank	frank	PROPN
cblr-1707	991	6	wall	wall	PROPN
cblr-1707	991	7	street	street	PROPN
cblr-1707	991	8	reform	reform	PROPN
cblr-1707	991	9	and	and	CCONJ
cblr-1707	991	10	consumer	consumer	NOUN
cblr-1707	991	11	protection	protection	PROPN
cblr-1707	991	12	act	act	NOUN
cblr-1707	991	13	§	§	PROPN
cblr-1707	991	14	619	619	NUM
cblr-1707	991	15	,	,	PUNCT
cblr-1707	991	16	12	12	NUM
cblr-1707	991	17	u.s.c	u.s.c	ADJ
cblr-1707	991	18	.	.	PUNCT
cblr-1707	992	1	§	§	PROPN
cblr-1707	992	2	1851(h)(4	1851(h)(4	NUM
cblr-1707	992	3	)	)	PUNCT
cblr-1707	992	4	(	(	PUNCT
cblr-1707	992	5	2012	2012	NUM
cblr-1707	992	6	)	)	PUNCT
cblr-1707	992	7	.	.	PUNCT
cblr-1707	993	1	164	164	NUM
cblr-1707	993	2	12	12	NUM
cblr-1707	993	3	u.s.c	u.s.c	NOUN
cblr-1707	993	4	.	.	PUNCT
cblr-1707	994	1	§	§	PROPN
cblr-1707	994	2	1813(l	1813(l	NUM
cblr-1707	994	3	)	)	PUNCT
cblr-1707	994	4	(	(	PUNCT
cblr-1707	994	5	2012	2012	NUM
cblr-1707	994	6	)	)	PUNCT
cblr-1707	994	7	.	.	PUNCT
cblr-1707	995	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	995	2	812	812	NUM
cblr-1707	995	3	columbia	columbia	PROPN
cblr-1707	995	4	business	business	PROPN
cblr-1707	995	5	law	law	PROPN
cblr-1707	995	6	review	review	NOUN
cblr-1707	995	7	[	[	X
cblr-1707	995	8	vol	vol	NOUN
cblr-1707	995	9	.	.	PUNCT
cblr-1707	995	10	2018	2018	NUM
cblr-1707	995	11	supreme	supreme	PROPN
cblr-1707	995	12	court	court	PROPN
cblr-1707	995	13	concerned	concern	VERB
cblr-1707	995	14	itself	itself	PRON
cblr-1707	995	15	almost	almost	ADV
cblr-1707	995	16	exclusively	exclusively	ADV
cblr-1707	995	17	with	with	ADP
cblr-1707	995	18	what	what	PRON
cblr-1707	995	19	exactly	exactly	ADV
cblr-1707	995	20	the	the	DET
cblr-1707	995	21	bank	bank	NOUN
cblr-1707	995	22	“	"	PUNCT
cblr-1707	995	23	received	receive	VERB
cblr-1707	995	24	.	.	PUNCT
cblr-1707	995	25	”165	”165	VERB
cblr-1707	996	1	even	even	ADV
cblr-1707	996	2	if	if	SCONJ
cblr-1707	996	3	courts	court	NOUN
cblr-1707	996	4	and	and	CCONJ
cblr-1707	996	5	regulators	regulator	NOUN
cblr-1707	996	6	overcame	overcome	VERB
cblr-1707	996	7	this	this	DET
cblr-1707	996	8	bit	bit	NOUN
cblr-1707	996	9	of	of	ADP
cblr-1707	996	10	confusion	confusion	NOUN
cblr-1707	996	11	,	,	PUNCT
cblr-1707	996	12	the	the	DET
cblr-1707	996	13	fdia	fdia	NOUN
cblr-1707	996	14	’s	’s	PART
cblr-1707	996	15	“	"	PUNCT
cblr-1707	996	16	deposit	deposit	NOUN
cblr-1707	996	17	”	"	PUNCT
cblr-1707	996	18	definition	definition	NOUN
cblr-1707	996	19	would	would	AUX
cblr-1707	996	20	still	still	ADV
cblr-1707	996	21	offer	offer	VERB
cblr-1707	996	22	no	no	DET
cblr-1707	996	23	practical	practical	ADJ
cblr-1707	996	24	way	way	NOUN
cblr-1707	996	25	forward	forward	ADV
cblr-1707	996	26	for	for	ADP
cblr-1707	996	27	entry	entry	NOUN
cblr-1707	996	28	restriction	restriction	NOUN
cblr-1707	996	29	.	.	PUNCT
cblr-1707	997	1	the	the	DET
cblr-1707	997	2	essence	essence	NOUN
cblr-1707	997	3	of	of	ADP
cblr-1707	997	4	entry	entry	NOUN
cblr-1707	997	5	restriction	restriction	NOUN
cblr-1707	997	6	is	be	AUX
cblr-1707	997	7	that	that	SCONJ
cblr-1707	997	8	only	only	ADV
cblr-1707	997	9	authorized	authorize	VERB
cblr-1707	997	10	banks	bank	NOUN
cblr-1707	997	11	may	may	AUX
cblr-1707	997	12	incur	incur	VERB
cblr-1707	997	13	“	"	PUNCT
cblr-1707	997	14	deposit	deposit	NOUN
cblr-1707	997	15	”	"	PUNCT
cblr-1707	997	16	obligations	obligation	NOUN
cblr-1707	997	17	.	.	PUNCT
cblr-1707	998	1	but	but	CCONJ
cblr-1707	998	2	the	the	DET
cblr-1707	998	3	fdia	fdia	NOUN
cblr-1707	998	4	defines	define	VERB
cblr-1707	998	5	“	"	PUNCT
cblr-1707	998	6	deposit	deposit	NOUN
cblr-1707	998	7	”	"	PUNCT
cblr-1707	998	8	as	as	ADP
cblr-1707	998	9	an	an	DET
cblr-1707	998	10	obligation	obligation	NOUN
cblr-1707	998	11	of	of	ADP
cblr-1707	998	12	a	a	DET
cblr-1707	998	13	bank	bank	NOUN
cblr-1707	998	14	.	.	PUNCT
cblr-1707	999	1	so	so	ADV
cblr-1707	999	2	this	this	PRON
cblr-1707	999	3	is	be	AUX
cblr-1707	999	4	a	a	DET
cblr-1707	999	5	perfect	perfect	ADJ
cblr-1707	999	6	legal	legal	ADJ
cblr-1707	999	7	circle	circle	NOUN
cblr-1707	999	8	.	.	PUNCT
cblr-1707	1000	1	this	this	DET
cblr-1707	1000	2	lack	lack	NOUN
cblr-1707	1000	3	of	of	ADP
cblr-1707	1000	4	a	a	DET
cblr-1707	1000	5	functional	functional	ADJ
cblr-1707	1000	6	definition	definition	NOUN
cblr-1707	1000	7	is	be	AUX
cblr-1707	1000	8	not	not	PART
cblr-1707	1000	9	a	a	DET
cblr-1707	1000	10	benign	benign	ADJ
cblr-1707	1000	11	oversight	oversight	NOUN
cblr-1707	1000	12	.	.	PUNCT
cblr-1707	1001	1	when	when	SCONJ
cblr-1707	1001	2	the	the	DET
cblr-1707	1001	3	mmf	mmf	NOUN
cblr-1707	1001	4	industry	industry	NOUN
cblr-1707	1001	5	arose	arise	VERB
cblr-1707	1001	6	in	in	ADP
cblr-1707	1001	7	the	the	DET
cblr-1707	1001	8	late	late	ADJ
cblr-1707	1001	9	1970s	1970	NOUN
cblr-1707	1001	10	,	,	PUNCT
cblr-1707	1001	11	the	the	DET
cblr-1707	1001	12	securities	securities	PROPN
cblr-1707	1001	13	and	and	CCONJ
cblr-1707	1001	14	exchange	exchange	PROPN
cblr-1707	1001	15	commission	commission	PROPN
cblr-1707	1001	16	(	(	PUNCT
cblr-1707	1001	17	“	"	PUNCT
cblr-1707	1001	18	sec	sec	PROPN
cblr-1707	1001	19	”	"	PUNCT
cblr-1707	1001	20	)	)	PUNCT
cblr-1707	1001	21	was	be	AUX
cblr-1707	1001	22	faced	face	VERB
cblr-1707	1001	23	with	with	ADP
cblr-1707	1001	24	the	the	DET
cblr-1707	1001	25	question	question	NOUN
cblr-1707	1001	26	of	of	ADP
cblr-1707	1001	27	whether	whether	SCONJ
cblr-1707	1001	28	claims	claim	NOUN
cblr-1707	1001	29	on	on	ADP
cblr-1707	1001	30	mmfs	mmfs	NOUN
cblr-1707	1001	31	were	be	AUX
cblr-1707	1001	32	“	"	PUNCT
cblr-1707	1001	33	deposits	deposit	NOUN
cblr-1707	1001	34	”	"	PUNCT
cblr-1707	1001	35	and	and	CCONJ
cblr-1707	1001	36	thus	thus	ADV
cblr-1707	1001	37	whether	whether	SCONJ
cblr-1707	1001	38	mmfs	mmfs	NOUN
cblr-1707	1001	39	were	be	AUX
cblr-1707	1001	40	engaged	engage	VERB
cblr-1707	1001	41	in	in	ADP
cblr-1707	1001	42	unauthorized	unauthorized	ADJ
cblr-1707	1001	43	banking	banking	NOUN
cblr-1707	1001	44	.	.	PUNCT
cblr-1707	1002	1	the	the	DET
cblr-1707	1002	2	sec	sec	PROPN
cblr-1707	1002	3	asked	ask	VERB
cblr-1707	1002	4	the	the	DET
cblr-1707	1002	5	department	department	NOUN
cblr-1707	1002	6	of	of	ADP
cblr-1707	1002	7	justice	justice	PROPN
cblr-1707	1002	8	(	(	PUNCT
cblr-1707	1002	9	the	the	DET
cblr-1707	1002	10	“	"	PUNCT
cblr-1707	1002	11	doj	doj	PROPN
cblr-1707	1002	12	”	"	PUNCT
cblr-1707	1002	13	)	)	PUNCT
cblr-1707	1002	14	for	for	ADP
cblr-1707	1002	15	a	a	DET
cblr-1707	1002	16	legal	legal	ADJ
cblr-1707	1002	17	opinion	opinion	NOUN
cblr-1707	1002	18	on	on	ADP
cblr-1707	1002	19	the	the	DET
cblr-1707	1002	20	matter	matter	NOUN
cblr-1707	1002	21	.	.	PUNCT
cblr-1707	1003	1	the	the	DET
cblr-1707	1003	2	doj	doj	PROPN
cblr-1707	1003	3	’s	’s	PART
cblr-1707	1003	4	reply	reply	NOUN
cblr-1707	1003	5	was	be	AUX
cblr-1707	1003	6	a	a	DET
cblr-1707	1003	7	masterpiece	masterpiece	NOUN
cblr-1707	1003	8	of	of	ADP
cblr-1707	1003	9	legal	legal	ADJ
cblr-1707	1003	10	formalism	formalism	NOUN
cblr-1707	1003	11	.	.	PUNCT
cblr-1707	1004	1	heedless	heedless	ADJ
cblr-1707	1004	2	of	of	ADP
cblr-1707	1004	3	economic	economic	ADJ
cblr-1707	1004	4	substance	substance	NOUN
cblr-1707	1004	5	,	,	PUNCT
cblr-1707	1004	6	it	it	PRON
cblr-1707	1004	7	opined	opine	VERB
cblr-1707	1004	8	in	in	ADP
cblr-1707	1004	9	essence	essence	NOUN
cblr-1707	1004	10	that	that	SCONJ
cblr-1707	1004	11	mmf	mmf	NOUN
cblr-1707	1004	12	shares	share	NOUN
cblr-1707	1004	13	are	be	AUX
cblr-1707	1004	14	not	not	PART
cblr-1707	1004	15	deposits	deposit	NOUN
cblr-1707	1004	16	because	because	SCONJ
cblr-1707	1004	17	they	they	PRON
cblr-1707	1004	18	are	be	AUX
cblr-1707	1004	19	equity	equity	NOUN
cblr-1707	1004	20	not	not	PART
cblr-1707	1004	21	debt.166	debt.166	NOUN
cblr-1707	1004	22	seemingly	seemingly	ADV
cblr-1707	1004	23	lost	lose	VERB
cblr-1707	1004	24	on	on	ADP
cblr-1707	1004	25	the	the	DET
cblr-1707	1004	26	doj	doj	PROPN
cblr-1707	1004	27	was	be	AUX
cblr-1707	1004	28	the	the	DET
cblr-1707	1004	29	fact	fact	NOUN
cblr-1707	1004	30	that	that	SCONJ
cblr-1707	1004	31	mmfs	mmfs	NOUN
cblr-1707	1004	32	arose	arise	VERB
cblr-1707	1004	33	precisely	precisely	ADV
cblr-1707	1004	34	to	to	PART
cblr-1707	1004	35	mimic	mimic	VERB
cblr-1707	1004	36	bank	bank	NOUN
cblr-1707	1004	37	deposits	deposit	NOUN
cblr-1707	1004	38	.	.	PUNCT
cblr-1707	1005	1	mmfs	mmfs	PROPN
cblr-1707	1005	2	would	would	AUX
cblr-1707	1005	3	later	later	ADV
cblr-1707	1005	4	prove	prove	VERB
cblr-1707	1005	5	just	just	ADV
cblr-1707	1005	6	as	as	ADV
cblr-1707	1005	7	unstable	unstable	ADJ
cblr-1707	1005	8	as	as	ADP
cblr-1707	1005	9	uninsured	uninsured	ADJ
cblr-1707	1005	10	bank	bank	NOUN
cblr-1707	1005	11	deposits	deposit	NOUN
cblr-1707	1005	12	.	.	PUNCT
cblr-1707	1006	1	at	at	ADP
cblr-1707	1006	2	the	the	DET
cblr-1707	1006	3	peak	peak	NOUN
cblr-1707	1006	4	of	of	ADP
cblr-1707	1006	5	the	the	DET
cblr-1707	1006	6	2008	2008	NUM
cblr-1707	1006	7	financial	financial	ADJ
cblr-1707	1006	8	crisis	crisis	NOUN
cblr-1707	1006	9	,	,	PUNCT
cblr-1707	1006	10	prime	prime	ADJ
cblr-1707	1006	11	institutional	institutional	ADJ
cblr-1707	1006	12	money	money	NOUN
cblr-1707	1006	13	funds	fund	NOUN
cblr-1707	1006	14	suffered	suffer	VERB
cblr-1707	1006	15	a	a	DET
cblr-1707	1006	16	massive	massive	ADJ
cblr-1707	1006	17	run	run	NOUN
cblr-1707	1006	18	,	,	PUNCT
cblr-1707	1006	19	prompting	prompt	VERB
cblr-1707	1006	20	the	the	DET
cblr-1707	1006	21	u.s	u.s	PROPN
cblr-1707	1006	22	.	.	PROPN
cblr-1707	1006	23	government	government	NOUN
cblr-1707	1006	24	’s	’s	PART
cblr-1707	1006	25	single	single	ADJ
cblr-1707	1006	26	largest	large	ADJ
cblr-1707	1006	27	rescue	rescue	NOUN
cblr-1707	1006	28	commitment	commitment	NOUN
cblr-1707	1006	29	of	of	ADP
cblr-1707	1006	30	the	the	DET
cblr-1707	1006	31	crisis	crisis	NOUN
cblr-1707	1006	32	(	(	PUNCT
cblr-1707	1006	33	over	over	ADP
cblr-1707	1006	34	$	$	SYM
cblr-1707	1006	35	2	2	NUM
cblr-1707	1006	36	trillion).167	trillion).167	NOUN
cblr-1707	1006	37	165	165	NUM
cblr-1707	1006	38	fdic	fdic	PROPN
cblr-1707	1006	39	v.	v.	PROPN
cblr-1707	1006	40	philadelphia	philadelphia	PROPN
cblr-1707	1006	41	gear	gear	PROPN
cblr-1707	1006	42	corp	corp	PROPN
cblr-1707	1006	43	.	.	PROPN
cblr-1707	1006	44	,	,	PUNCT
cblr-1707	1007	1	476	476	NUM
cblr-1707	1007	2	u.s	u.s	PROPN
cblr-1707	1007	3	.	.	PROPN
cblr-1707	1007	4	426	426	NUM
cblr-1707	1007	5	(	(	PUNCT
cblr-1707	1007	6	1986	1986	NUM
cblr-1707	1007	7	)	)	PUNCT
cblr-1707	1007	8	.	.	PUNCT
cblr-1707	1008	1	in	in	ADP
cblr-1707	1008	2	particular	particular	ADJ
cblr-1707	1008	3	,	,	PUNCT
cblr-1707	1008	4	the	the	DET
cblr-1707	1008	5	court	court	NOUN
cblr-1707	1008	6	deemed	deem	VERB
cblr-1707	1008	7	the	the	DET
cblr-1707	1008	8	pertinent	pertinent	ADJ
cblr-1707	1008	9	question	question	NOUN
cblr-1707	1008	10	to	to	PART
cblr-1707	1008	11	be	be	AUX
cblr-1707	1008	12	whether	whether	SCONJ
cblr-1707	1008	13	“	"	PUNCT
cblr-1707	1008	14	assets	asset	NOUN
cblr-1707	1008	15	and	and	CCONJ
cblr-1707	1008	16	‘	'	PUNCT
cblr-1707	1008	17	hard	hard	ADJ
cblr-1707	1008	18	earnings	earning	NOUN
cblr-1707	1008	19	’	'	PUNCT
cblr-1707	1008	20	”	"	PUNCT
cblr-1707	1008	21	had	have	AUX
cblr-1707	1008	22	been	be	AUX
cblr-1707	1008	23	“	"	PUNCT
cblr-1707	1008	24	entrusted	entrust	VERB
cblr-1707	1008	25	”	"	PUNCT
cblr-1707	1008	26	to	to	ADP
cblr-1707	1008	27	the	the	DET
cblr-1707	1008	28	bank	bank	NOUN
cblr-1707	1008	29	or	or	CCONJ
cblr-1707	1008	30	had	have	AUX
cblr-1707	1008	31	been	be	AUX
cblr-1707	1008	32	“	"	PUNCT
cblr-1707	1008	33	surrender[ed	surrender[ed	PROPN
cblr-1707	1008	34	]	]	PUNCT
cblr-1707	1008	35	to	to	ADP
cblr-1707	1008	36	the	the	PRON
cblr-1707	1008	37	.	.	PUNCT
cblr-1707	1008	38	.	.	PUNCT
cblr-1707	1008	39	.	.	PUNCT
cblr-1707	1009	1	custody	custody	NOUN
cblr-1707	1009	2	”	"	PUNCT
cblr-1707	1009	3	of	of	ADP
cblr-1707	1009	4	the	the	DET
cblr-1707	1009	5	bank	bank	NOUN
cblr-1707	1009	6	or	or	CCONJ
cblr-1707	1009	7	were	be	AUX
cblr-1707	1009	8	in	in	ADP
cblr-1707	1009	9	the	the	DET
cblr-1707	1009	10	“	"	PUNCT
cblr-1707	1009	11	possession	possession	NOUN
cblr-1707	1009	12	”	"	PUNCT
cblr-1707	1009	13	of	of	ADP
cblr-1707	1009	14	the	the	DET
cblr-1707	1009	15	bank	bank	NOUN
cblr-1707	1009	16	.	.	PUNCT
cblr-1707	1010	1	“	"	PUNCT
cblr-1707	1010	2	congress	congress	PROPN
cblr-1707	1010	3	wanted	want	VERB
cblr-1707	1010	4	to	to	PART
cblr-1707	1010	5	ensure	ensure	VERB
cblr-1707	1010	6	that	that	SCONJ
cblr-1707	1010	7	someone	someone	PRON
cblr-1707	1010	8	who	who	PRON
cblr-1707	1010	9	put	put	VERB
cblr-1707	1010	10	tangible	tangible	ADJ
cblr-1707	1010	11	assets	asset	NOUN
cblr-1707	1010	12	into	into	ADP
cblr-1707	1010	13	a	a	DET
cblr-1707	1010	14	bank	bank	NOUN
cblr-1707	1010	15	could	could	AUX
cblr-1707	1010	16	always	always	ADV
cblr-1707	1010	17	get	get	VERB
cblr-1707	1010	18	those	those	DET
cblr-1707	1010	19	assets	asset	NOUN
cblr-1707	1010	20	back	back	ADP
cblr-1707	1010	21	,	,	PUNCT
cblr-1707	1010	22	”	"	PUNCT
cblr-1707	1010	23	the	the	DET
cblr-1707	1010	24	court	court	NOUN
cblr-1707	1010	25	wrote	write	VERB
cblr-1707	1010	26	.	.	PUNCT
cblr-1707	1011	1	i	i	PRON
cblr-1707	1011	2	d.	d.	PROPN
cblr-1707	1011	3	at	at	ADP
cblr-1707	1011	4	435	435	NUM
cblr-1707	1011	5	.	.	PUNCT
cblr-1707	1012	1	the	the	DET
cblr-1707	1012	2	court	court	NOUN
cblr-1707	1012	3	thus	thus	ADV
cblr-1707	1012	4	seemed	seem	VERB
cblr-1707	1012	5	to	to	PART
cblr-1707	1012	6	see	see	VERB
cblr-1707	1012	7	a	a	DET
cblr-1707	1012	8	deposit	deposit	NOUN
cblr-1707	1012	9	as	as	ADP
cblr-1707	1012	10	a	a	DET
cblr-1707	1012	11	form	form	NOUN
cblr-1707	1012	12	of	of	ADP
cblr-1707	1012	13	bailment	bailment	NOUN
cblr-1707	1012	14	.	.	PUNCT
cblr-1707	1013	1	166	166	NUM
cblr-1707	1013	2	see	see	VERB
cblr-1707	1013	3	letter	letter	NOUN
cblr-1707	1013	4	from	from	ADP
cblr-1707	1013	5	philip	philip	PROPN
cblr-1707	1013	6	b.	b.	PROPN
cblr-1707	1013	7	heymann	heymann	PROPN
cblr-1707	1013	8	&	&	CCONJ
cblr-1707	1013	9	lawrence	lawrence	PROPN
cblr-1707	1013	10	lippe	lippe	PROPN
cblr-1707	1013	11	,	,	PUNCT
cblr-1707	1013	12	crim	crim	PROPN
cblr-1707	1013	13	.	.	PUNCT
cblr-1707	1014	1	div	div	PROPN
cblr-1707	1014	2	.	.	PROPN
cblr-1707	1014	3	,	,	PUNCT
cblr-1707	1014	4	u.s	u.s	PROPN
cblr-1707	1014	5	.	.	PROPN
cblr-1707	1014	6	dep’t	dep’t	NOUN
cblr-1707	1014	7	of	of	ADP
cblr-1707	1014	8	justice	justice	NOUN
cblr-1707	1014	9	,	,	PUNCT
cblr-1707	1014	10	to	to	ADP
cblr-1707	1014	11	martin	martin	PROPN
cblr-1707	1014	12	lybecker	lybecker	PROPN
cblr-1707	1014	13	,	,	PUNCT
cblr-1707	1014	14	assoc	assoc	PROPN
cblr-1707	1014	15	.	.	PUNCT
cblr-1707	1015	1	dir	dir	PROPN
cblr-1707	1015	2	.	.	PROPN
cblr-1707	1015	3	,	,	PUNCT
cblr-1707	1015	4	div	div	PROPN
cblr-1707	1015	5	.	.	PROPN
cblr-1707	1015	6	of	of	ADP
cblr-1707	1015	7	mktg	mktg	PROPN
cblr-1707	1015	8	.	.	PUNCT
cblr-1707	1016	1	mgmt	mgmt	PROPN
cblr-1707	1016	2	.	.	PROPN
cblr-1707	1016	3	,	,	PUNCT
cblr-1707	1016	4	sec	sec	PROPN
cblr-1707	1016	5	(	(	PUNCT
cblr-1707	1016	6	dec	dec	PROPN
cblr-1707	1016	7	.	.	PROPN
cblr-1707	1016	8	18	18	NUM
cblr-1707	1016	9	,	,	PUNCT
cblr-1707	1016	10	1979	1979	NUM
cblr-1707	1016	11	)	)	PUNCT
cblr-1707	1016	12	(	(	PUNCT
cblr-1707	1016	13	on	on	ADP
cblr-1707	1016	14	file	file	NOUN
cblr-1707	1016	15	with	with	ADP
cblr-1707	1016	16	author	author	NOUN
cblr-1707	1016	17	)	)	PUNCT
cblr-1707	1016	18	.	.	PUNCT
cblr-1707	1017	1	167	167	NUM
cblr-1707	1017	2	see	see	VERB
cblr-1707	1017	3	press	press	NOUN
cblr-1707	1017	4	release	release	NOUN
cblr-1707	1017	5	,	,	PUNCT
cblr-1707	1017	6	u.s	u.s	PROPN
cblr-1707	1017	7	.	.	PROPN
cblr-1707	1017	8	dep’t	dep’t	NOUN
cblr-1707	1017	9	of	of	ADP
cblr-1707	1017	10	the	the	DET
cblr-1707	1017	11	treasury	treasury	PROPN
cblr-1707	1017	12	,	,	PUNCT
cblr-1707	1017	13	treasury	treasury	PROPN
cblr-1707	1017	14	announces	announce	VERB
cblr-1707	1017	15	temporary	temporary	ADJ
cblr-1707	1017	16	guarantee	guarantee	NOUN
cblr-1707	1017	17	program	program	NOUN
cblr-1707	1017	18	for	for	ADP
cblr-1707	1017	19	money	money	NOUN
cblr-1707	1017	20	market	market	NOUN
cblr-1707	1017	21	funds	fund	NOUN
cblr-1707	1017	22	(	(	PUNCT
cblr-1707	1017	23	sept	sept	PROPN
cblr-1707	1017	24	.	.	PROPN
cblr-1707	1017	25	29	29	NUM
cblr-1707	1017	26	,	,	PUNCT
cblr-1707	1017	27	2008	2008	NUM
cblr-1707	1017	28	)	)	PUNCT
cblr-1707	1017	29	,	,	PUNCT
cblr-1707	1017	30	https://www.treasury.gov/press-center/press-releases/pages/hp1161.aspx	https://www.treasury.gov/press-center/press-releases/pages/hp1161.aspx	PROPN
cblr-1707	1018	1	[	[	X
cblr-1707	1018	2	https://perma.cc/5vqr-ne2w	https://perma.cc/5vqr-ne2w	X
cblr-1707	1018	3	]	]	PUNCT
cblr-1707	1018	4	.	.	PUNCT
cblr-1707	1019	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	1019	2	no	no	NOUN
cblr-1707	1019	3	.	.	PUNCT
cblr-1707	1020	1	3:757	3:757	NUM
cblr-1707	1020	2	]	]	X
cblr-1707	1020	3	money	money	NOUN
cblr-1707	1020	4	as	as	ADP
cblr-1707	1020	5	infrastructure	infrastructure	NOUN
cblr-1707	1020	6	813	813	NUM
cblr-1707	1020	7	i	i	PRON
cblr-1707	1020	8	have	have	AUX
cblr-1707	1020	9	argued	argue	VERB
cblr-1707	1020	10	elsewhere	elsewhere	ADV
cblr-1707	1020	11	that	that	SCONJ
cblr-1707	1020	12	the	the	DET
cblr-1707	1020	13	failure	failure	NOUN
cblr-1707	1020	14	to	to	PART
cblr-1707	1020	15	reach	reach	VERB
cblr-1707	1020	16	a	a	DET
cblr-1707	1020	17	functional	functional	ADJ
cblr-1707	1020	18	legal	legal	ADJ
cblr-1707	1020	19	specification	specification	NOUN
cblr-1707	1020	20	of	of	ADP
cblr-1707	1020	21	what	what	PRON
cblr-1707	1020	22	constitutes	constitute	VERB
cblr-1707	1020	23	a	a	DET
cblr-1707	1020	24	monetary	monetary	ADJ
cblr-1707	1020	25	instrument	instrument	NOUN
cblr-1707	1020	26	has	have	AUX
cblr-1707	1020	27	been	be	AUX
cblr-1707	1020	28	the	the	DET
cblr-1707	1020	29	central	central	ADJ
cblr-1707	1020	30	issue	issue	NOUN
cblr-1707	1020	31	of	of	ADP
cblr-1707	1020	32	bank	bank	PROPN
cblr-1707	1020	33	regulatory	regulatory	ADJ
cblr-1707	1020	34	history.168	history.168	NOUN
cblr-1707	1020	35	the	the	DET
cblr-1707	1020	36	details	detail	NOUN
cblr-1707	1020	37	need	need	AUX
cblr-1707	1020	38	not	not	PART
cblr-1707	1020	39	be	be	AUX
cblr-1707	1020	40	covered	cover	VERB
cblr-1707	1020	41	here	here	ADV
cblr-1707	1020	42	,	,	PUNCT
cblr-1707	1020	43	but	but	CCONJ
cblr-1707	1020	44	a	a	DET
cblr-1707	1020	45	few	few	ADJ
cblr-1707	1020	46	brief	brief	ADJ
cblr-1707	1020	47	highlights	highlight	NOUN
cblr-1707	1020	48	are	be	AUX
cblr-1707	1020	49	instructive	instructive	ADJ
cblr-1707	1020	50	.	.	PUNCT
cblr-1707	1021	1	soon	soon	ADV
cblr-1707	1021	2	after	after	ADP
cblr-1707	1021	3	the	the	DET
cblr-1707	1021	4	founding	founding	NOUN
cblr-1707	1021	5	of	of	ADP
cblr-1707	1021	6	the	the	DET
cblr-1707	1021	7	bank	bank	NOUN
cblr-1707	1021	8	of	of	ADP
cblr-1707	1021	9	england	england	PROPN
cblr-1707	1021	10	in	in	ADP
cblr-1707	1021	11	1694	1694	NUM
cblr-1707	1021	12	,	,	PUNCT
cblr-1707	1021	13	parliament	parliament	NOUN
cblr-1707	1021	14	forbade	forbid	VERB
cblr-1707	1021	15	any	any	DET
cblr-1707	1021	16	other	other	ADJ
cblr-1707	1021	17	entity	entity	NOUN
cblr-1707	1021	18	in	in	ADP
cblr-1707	1021	19	england	england	PROPN
cblr-1707	1021	20	(	(	PUNCT
cblr-1707	1021	21	apart	apart	ADV
cblr-1707	1021	22	from	from	ADP
cblr-1707	1021	23	small	small	ADJ
cblr-1707	1021	24	partnerships	partnership	NOUN
cblr-1707	1021	25	)	)	PUNCT
cblr-1707	1021	26	from	from	ADP
cblr-1707	1021	27	issuing	issue	VERB
cblr-1707	1021	28	“	"	PUNCT
cblr-1707	1021	29	bills	bill	NOUN
cblr-1707	1021	30	or	or	CCONJ
cblr-1707	1021	31	notes	note	NOUN
cblr-1707	1021	32	payable	payable	ADJ
cblr-1707	1021	33	at	at	ADP
cblr-1707	1021	34	demand	demand	NOUN
cblr-1707	1021	35	or	or	CCONJ
cblr-1707	1021	36	at	at	ADP
cblr-1707	1021	37	any	any	DET
cblr-1707	1021	38	less	less	ADJ
cblr-1707	1021	39	time	time	NOUN
cblr-1707	1021	40	than	than	ADP
cblr-1707	1021	41	six	six	NUM
cblr-1707	1021	42	months	month	NOUN
cblr-1707	1021	43	”	"	PUNCT
cblr-1707	1021	44	from	from	ADP
cblr-1707	1021	45	issuance.169	issuance.169	NOUN
cblr-1707	1021	46	the	the	DET
cblr-1707	1021	47	law	law	NOUN
cblr-1707	1021	48	took	take	VERB
cblr-1707	1021	49	aim	aim	NOUN
cblr-1707	1021	50	at	at	ADP
cblr-1707	1021	51	bank	bank	NOUN
cblr-1707	1021	52	notes	note	NOUN
cblr-1707	1021	53	,	,	PUNCT
cblr-1707	1021	54	but	but	CCONJ
cblr-1707	1021	55	parliament	parliament	NOUN
cblr-1707	1021	56	failed	fail	VERB
cblr-1707	1021	57	to	to	PART
cblr-1707	1021	58	see	see	VERB
cblr-1707	1021	59	that	that	SCONJ
cblr-1707	1021	60	deposit	deposit	NOUN
cblr-1707	1021	61	accounts	account	NOUN
cblr-1707	1021	62	were	be	AUX
cblr-1707	1021	63	economically	economically	ADV
cblr-1707	1021	64	the	the	DET
cblr-1707	1021	65	same	same	ADJ
cblr-1707	1021	66	thing	thing	NOUN
cblr-1707	1021	67	.	.	PUNCT
cblr-1707	1022	1	later	later	ADV
cblr-1707	1022	2	,	,	PUNCT
cblr-1707	1022	3	deposits	deposit	NOUN
cblr-1707	1022	4	would	would	AUX
cblr-1707	1022	5	come	come	VERB
cblr-1707	1022	6	to	to	PART
cblr-1707	1022	7	dwarf	dwarf	VERB
cblr-1707	1022	8	bank	bank	NOUN
cblr-1707	1022	9	notes	note	NOUN
cblr-1707	1022	10	in	in	ADP
cblr-1707	1022	11	circulation	circulation	NOUN
cblr-1707	1022	12	in	in	ADP
cblr-1707	1022	13	england	england	PROPN
cblr-1707	1022	14	,	,	PUNCT
cblr-1707	1022	15	rendering	render	VERB
cblr-1707	1022	16	the	the	DET
cblr-1707	1022	17	prohibition	prohibition	NOUN
cblr-1707	1022	18	ineffectual.170	ineffectual.170	PRON
cblr-1707	1022	19	amazingly	amazingly	ADV
cblr-1707	1022	20	,	,	PUNCT
cblr-1707	1022	21	this	this	DET
cblr-1707	1022	22	pattern	pattern	NOUN
cblr-1707	1022	23	repeated	repeat	VERB
cblr-1707	1022	24	itself	itself	PRON
cblr-1707	1022	25	in	in	ADP
cblr-1707	1022	26	the	the	DET
cblr-1707	1022	27	united	united	PROPN
cblr-1707	1022	28	states	states	PROPN
cblr-1707	1022	29	.	.	PUNCT
cblr-1707	1023	1	the	the	DET
cblr-1707	1023	2	national	national	PROPN
cblr-1707	1023	3	bank	bank	PROPN
cblr-1707	1023	4	acts	act	NOUN
cblr-1707	1023	5	of	of	ADP
cblr-1707	1023	6	1863	1863	NUM
cblr-1707	1023	7	and	and	CCONJ
cblr-1707	1023	8	1864	1864	NUM
cblr-1707	1023	9	created	create	VERB
cblr-1707	1023	10	a	a	DET
cblr-1707	1023	11	new	new	ADJ
cblr-1707	1023	12	class	class	NOUN
cblr-1707	1023	13	of	of	ADP
cblr-1707	1023	14	federally	federally	ADV
cblr-1707	1023	15	chartered	chartered	ADJ
cblr-1707	1023	16	“	"	PUNCT
cblr-1707	1023	17	national	national	ADJ
cblr-1707	1023	18	”	"	PUNCT
cblr-1707	1023	19	banks	bank	NOUN
cblr-1707	1023	20	that	that	PRON
cblr-1707	1023	21	were	be	AUX
cblr-1707	1023	22	authorized	authorize	VERB
cblr-1707	1023	23	to	to	PART
cblr-1707	1023	24	issue	issue	VERB
cblr-1707	1023	25	a	a	DET
cblr-1707	1023	26	new	new	ADJ
cblr-1707	1023	27	form	form	NOUN
cblr-1707	1023	28	of	of	ADP
cblr-1707	1023	29	paper	paper	NOUN
cblr-1707	1023	30	money	money	NOUN
cblr-1707	1023	31	(	(	PUNCT
cblr-1707	1023	32	national	national	PROPN
cblr-1707	1023	33	bank	bank	NOUN
cblr-1707	1023	34	notes).171	notes).171	PROPN
cblr-1707	1023	35	with	with	ADP
cblr-1707	1023	36	this	this	DET
cblr-1707	1023	37	system	system	NOUN
cblr-1707	1023	38	,	,	PUNCT
cblr-1707	1023	39	congress	congress	PROPN
cblr-1707	1023	40	sought	seek	VERB
cblr-1707	1023	41	to	to	PART
cblr-1707	1023	42	federalize	federalize	VERB
cblr-1707	1023	43	money	money	NOUN
cblr-1707	1023	44	creation	creation	NOUN
cblr-1707	1023	45	:	:	PUNCT
cblr-1707	1023	46	it	it	PRON
cblr-1707	1023	47	aimed	aim	VERB
cblr-1707	1023	48	to	to	PART
cblr-1707	1023	49	supplant	supplant	VERB
cblr-1707	1023	50	,	,	PUNCT
cblr-1707	1023	51	rather	rather	ADV
cblr-1707	1023	52	than	than	ADP
cblr-1707	1023	53	supplement	supplement	NOUN
cblr-1707	1023	54	,	,	PUNCT
cblr-1707	1023	55	money	money	NOUN
cblr-1707	1023	56	creation	creation	NOUN
cblr-1707	1023	57	by	by	ADP
cblr-1707	1023	58	state	state	NOUN
cblr-1707	1023	59	-	-	PUNCT
cblr-1707	1023	60	chartered	charter	VERB
cblr-1707	1023	61	banks	bank	NOUN
cblr-1707	1023	62	.	.	PUNCT
cblr-1707	1024	1	fatefully	fatefully	ADV
cblr-1707	1024	2	,	,	PUNCT
cblr-1707	1024	3	though	though	ADV
cblr-1707	1024	4	,	,	PUNCT
cblr-1707	1024	5	congress	congress	PROPN
cblr-1707	1024	6	opted	opt	VERB
cblr-1707	1024	7	to	to	PART
cblr-1707	1024	8	drive	drive	VERB
cblr-1707	1024	9	state	state	NOUN
cblr-1707	1024	10	banks	bank	NOUN
cblr-1707	1024	11	out	out	ADP
cblr-1707	1024	12	of	of	ADP
cblr-1707	1024	13	existence	existence	NOUN
cblr-1707	1024	14	by	by	ADP
cblr-1707	1024	15	imposing	impose	VERB
cblr-1707	1024	16	a	a	DET
cblr-1707	1024	17	prohibitive	prohibitive	ADJ
cblr-1707	1024	18	tax	tax	NOUN
cblr-1707	1024	19	on	on	ADP
cblr-1707	1024	20	bank	bank	NOUN
cblr-1707	1024	21	notes	note	NOUN
cblr-1707	1024	22	issued	issue	VERB
cblr-1707	1024	23	by	by	ADP
cblr-1707	1024	24	entities	entity	NOUN
cblr-1707	1024	25	other	other	ADJ
cblr-1707	1024	26	than	than	ADP
cblr-1707	1024	27	federally	federally	ADV
cblr-1707	1024	28	chartered	chartered	ADJ
cblr-1707	1024	29	banks.172	banks.172	NOUN
cblr-1707	1024	30	famously	famously	ADV
cblr-1707	1024	31	,	,	PUNCT
cblr-1707	1024	32	state	state	NOUN
cblr-1707	1024	33	banks	bank	NOUN
cblr-1707	1024	34	responded	respond	VERB
cblr-1707	1024	35	by	by	ADP
cblr-1707	1024	36	changing	change	VERB
cblr-1707	1024	37	the	the	DET
cblr-1707	1024	38	form	form	NOUN
cblr-1707	1024	39	of	of	ADP
cblr-1707	1024	40	their	their	PRON
cblr-1707	1024	41	monetary	monetary	ADJ
cblr-1707	1024	42	liabilities	liability	NOUN
cblr-1707	1024	43	:	:	PUNCT
cblr-1707	1024	44	they	they	PRON
cblr-1707	1024	45	shifted	shift	VERB
cblr-1707	1024	46	from	from	ADP
cblr-1707	1024	47	bank	bank	NOUN
cblr-1707	1024	48	notes	note	NOUN
cblr-1707	1024	49	to	to	ADP
cblr-1707	1024	50	checkable	checkable	ADJ
cblr-1707	1024	51	deposits	deposit	NOUN
cblr-1707	1024	52	.	.	PUNCT
cblr-1707	1025	1	as	as	ADP
cblr-1707	1025	2	in	in	ADP
cblr-1707	1025	3	england	england	PROPN
cblr-1707	1025	4	,	,	PUNCT
cblr-1707	1025	5	restricting	restrict	VERB
cblr-1707	1025	6	entry	entry	NOUN
cblr-1707	1025	7	into	into	ADP
cblr-1707	1025	8	money	money	NOUN
cblr-1707	1025	9	creation	creation	NOUN
cblr-1707	1025	10	failed	fail	VERB
cblr-1707	1025	11	,	,	PUNCT
cblr-1707	1025	12	owing	owe	VERB
cblr-1707	1025	13	to	to	ADP
cblr-1707	1025	14	an	an	DET
cblr-1707	1025	15	arbitrary	arbitrary	ADJ
cblr-1707	1025	16	formalism	formalism	NOUN
cblr-1707	1025	17	.	.	PUNCT
cblr-1707	1026	1	not	not	PART
cblr-1707	1026	2	until	until	ADP
cblr-1707	1026	3	the	the	DET
cblr-1707	1026	4	turn	turn	NOUN
cblr-1707	1026	5	of	of	ADP
cblr-1707	1026	6	the	the	DET
cblr-1707	1026	7	twentieth	twentieth	ADJ
cblr-1707	1026	8	century	century	NOUN
cblr-1707	1026	9	was	be	AUX
cblr-1707	1026	10	there	there	PRON
cblr-1707	1026	11	widespread	widespread	ADJ
cblr-1707	1026	12	recognition	recognition	NOUN
cblr-1707	1026	13	that	that	SCONJ
cblr-1707	1026	14	168	168	NUM
cblr-1707	1026	15	ricks	rick	NOUN
cblr-1707	1026	16	,	,	PUNCT
cblr-1707	1026	17	supra	supra	PROPN
cblr-1707	1026	18	note	note	PROPN
cblr-1707	1026	19	19	19	NUM
cblr-1707	1026	20	,	,	PUNCT
cblr-1707	1026	21	at	at	ADP
cblr-1707	1026	22	230–37	230–37	NOUN
cblr-1707	1026	23	;	;	PUNCT
cblr-1707	1026	24	ricks	rick	NOUN
cblr-1707	1026	25	,	,	PUNCT
cblr-1707	1026	26	supra	supra	PROPN
cblr-1707	1026	27	note	note	NOUN
cblr-1707	1026	28	44	44	NUM
cblr-1707	1026	29	.	.	SYM
cblr-1707	1026	30	169	169	NUM
cblr-1707	1026	31	bank	bank	PROPN
cblr-1707	1026	32	of	of	ADP
cblr-1707	1026	33	england	england	PROPN
cblr-1707	1026	34	act	act	PROPN
cblr-1707	1026	35	1708	1708	NUM
cblr-1707	1026	36	,	,	PUNCT
cblr-1707	1026	37	7	7	NUM
cblr-1707	1026	38	ann	ann	PROPN
cblr-1707	1026	39	.	.	PUNCT
cblr-1707	1027	1	c.	c.	PROPN
cblr-1707	1027	2	30	30	NUM
cblr-1707	1027	3	,	,	PUNCT
cblr-1707	1027	4	§	§	PROPN
cblr-1707	1027	5	66	66	NUM
cblr-1707	1027	6	(	(	PUNCT
cblr-1707	1027	7	eng	eng	PROPN
cblr-1707	1027	8	.	.	PUNCT
cblr-1707	1027	9	)	)	PUNCT
cblr-1707	1027	10	.	.	PUNCT
cblr-1707	1028	1	170	170	NUM
cblr-1707	1028	2	see	see	VERB
cblr-1707	1028	3	ernest	ernest	PROPN
cblr-1707	1028	4	sykes	sykes	PROPN
cblr-1707	1028	5	,	,	PUNCT
cblr-1707	1028	6	banking	banking	NOUN
cblr-1707	1028	7	and	and	CCONJ
cblr-1707	1028	8	currency	currency	NOUN
cblr-1707	1028	9	95–96	95–96	PROPN
cblr-1707	1028	10	(	(	PUNCT
cblr-1707	1028	11	1905	1905	NUM
cblr-1707	1028	12	)	)	PUNCT
cblr-1707	1028	13	.	.	PUNCT
cblr-1707	1029	1	171	171	NUM
cblr-1707	1029	2	national	national	PROPN
cblr-1707	1029	3	bank	bank	PROPN
cblr-1707	1029	4	act	act	NOUN
cblr-1707	1029	5	of	of	ADP
cblr-1707	1029	6	1864	1864	NUM
cblr-1707	1029	7	,	,	PUNCT
cblr-1707	1029	8	ch	ch	NOUN
cblr-1707	1029	9	.	.	PROPN
cblr-1707	1029	10	106	106	NUM
cblr-1707	1029	11	,	,	PUNCT
cblr-1707	1029	12	§	§	PROPN
cblr-1707	1029	13	§	§	PROPN
cblr-1707	1029	14	5	5	NUM
cblr-1707	1029	15	,	,	PUNCT
cblr-1707	1029	16	8	8	NUM
cblr-1707	1029	17	,	,	PUNCT
cblr-1707	1029	18	22	22	NUM
cblr-1707	1029	19	,	,	PUNCT
cblr-1707	1029	20	13	13	NUM
cblr-1707	1029	21	stat	stat	NOUN
cblr-1707	1029	22	.	.	PUNCT
cblr-1707	1030	1	99	99	NUM
cblr-1707	1030	2	,	,	PUNCT
cblr-1707	1030	3	100–01	100–01	NUM
cblr-1707	1030	4	,	,	PUNCT
cblr-1707	1030	5	105–06	105–06	NUM
cblr-1707	1030	6	(	(	PUNCT
cblr-1707	1030	7	superseding	supersede	VERB
cblr-1707	1030	8	the	the	DET
cblr-1707	1030	9	national	national	ADJ
cblr-1707	1030	10	currency	currency	NOUN
cblr-1707	1030	11	act	act	NOUN
cblr-1707	1030	12	of	of	ADP
cblr-1707	1030	13	1863	1863	NUM
cblr-1707	1030	14	,	,	PUNCT
cblr-1707	1030	15	ch	ch	NOUN
cblr-1707	1030	16	.	.	PROPN
cblr-1707	1030	17	58	58	NUM
cblr-1707	1030	18	,	,	PUNCT
cblr-1707	1030	19	12	12	NUM
cblr-1707	1030	20	stat	stat	NOUN
cblr-1707	1030	21	.	.	PUNCT
cblr-1707	1031	1	665	665	NUM
cblr-1707	1031	2	)	)	PUNCT
cblr-1707	1031	3	.	.	PUNCT
cblr-1707	1032	1	172	172	NUM
cblr-1707	1032	2	see	see	VERB
cblr-1707	1032	3	act	act	NOUN
cblr-1707	1032	4	of	of	ADP
cblr-1707	1032	5	march	march	PROPN
cblr-1707	1032	6	3	3	NUM
cblr-1707	1032	7	,	,	PUNCT
cblr-1707	1032	8	1865	1865	NUM
cblr-1707	1032	9	,	,	PUNCT
cblr-1707	1032	10	ch	ch	NOUN
cblr-1707	1032	11	.	.	PROPN
cblr-1707	1032	12	78	78	NUM
cblr-1707	1032	13	,	,	PUNCT
cblr-1707	1032	14	§	§	PROPN
cblr-1707	1032	15	6	6	NUM
cblr-1707	1032	16	,	,	PUNCT
cblr-1707	1032	17	13	13	NUM
cblr-1707	1032	18	stat	stat	NOUN
cblr-1707	1032	19	.	.	PUNCT
cblr-1707	1033	1	469	469	NUM
cblr-1707	1033	2	,	,	PUNCT
cblr-1707	1033	3	484	484	NUM
cblr-1707	1033	4	,	,	PUNCT
cblr-1707	1033	5	amended	amend	VERB
cblr-1707	1033	6	by	by	ADP
cblr-1707	1033	7	act	act	NOUN
cblr-1707	1033	8	of	of	ADP
cblr-1707	1033	9	february	february	PROPN
cblr-1707	1033	10	8	8	NUM
cblr-1707	1033	11	,	,	PUNCT
cblr-1707	1033	12	1875	1875	NUM
cblr-1707	1033	13	,	,	PUNCT
cblr-1707	1033	14	ch	ch	NOUN
cblr-1707	1033	15	.	.	PROPN
cblr-1707	1033	16	36	36	NUM
cblr-1707	1033	17	,	,	PUNCT
cblr-1707	1033	18	§	§	PROPN
cblr-1707	1033	19	19	19	NUM
cblr-1707	1033	20	,	,	PUNCT
cblr-1707	1033	21	18	18	NUM
cblr-1707	1033	22	stat	stat	NOUN
cblr-1707	1033	23	.	.	PUNCT
cblr-1707	1034	1	307	307	NUM
cblr-1707	1034	2	,	,	PUNCT
cblr-1707	1034	3	311	311	NUM
cblr-1707	1034	4	.	.	NOUN
cblr-1707	1034	5	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	1034	6	814	814	NUM
cblr-1707	1034	7	columbia	columbia	PROPN
cblr-1707	1034	8	business	business	NOUN
cblr-1707	1034	9	law	law	PROPN
cblr-1707	1034	10	review	review	NOUN
cblr-1707	1035	1	[	[	X
cblr-1707	1035	2	vol	vol	NOUN
cblr-1707	1035	3	.	.	NOUN
cblr-1707	1035	4	2018	2018	NUM
cblr-1707	1035	5	deposit	deposit	NOUN
cblr-1707	1035	6	liabilities	liability	NOUN
cblr-1707	1035	7	might	might	AUX
cblr-1707	1035	8	pose	pose	VERB
cblr-1707	1035	9	more	more	ADV
cblr-1707	1035	10	or	or	CCONJ
cblr-1707	1035	11	less	less	ADV
cblr-1707	1035	12	the	the	DET
cblr-1707	1035	13	same	same	ADJ
cblr-1707	1035	14	policy	policy	NOUN
cblr-1707	1035	15	problem	problem	NOUN
cblr-1707	1035	16	as	as	SCONJ
cblr-1707	1035	17	bank	bank	NOUN
cblr-1707	1035	18	notes.173	notes.173	NOUN
cblr-1707	1035	19	the	the	DET
cblr-1707	1035	20	mmf	mmf	NOUN
cblr-1707	1035	21	episode	episode	NOUN
cblr-1707	1035	22	of	of	ADP
cblr-1707	1035	23	the	the	DET
cblr-1707	1035	24	1970s	1970	NOUN
cblr-1707	1035	25	,	,	PUNCT
cblr-1707	1035	26	then	then	ADV
cblr-1707	1035	27	,	,	PUNCT
cblr-1707	1035	28	was	be	AUX
cblr-1707	1035	29	just	just	ADV
cblr-1707	1035	30	another	another	DET
cblr-1707	1035	31	installment	installment	NOUN
cblr-1707	1035	32	in	in	ADP
cblr-1707	1035	33	a	a	DET
cblr-1707	1035	34	centuries	century	NOUN
cblr-1707	1035	35	-	-	PUNCT
cblr-1707	1035	36	old	old	ADJ
cblr-1707	1035	37	historical	historical	ADJ
cblr-1707	1035	38	pattern	pattern	NOUN
cblr-1707	1035	39	.	.	PUNCT
cblr-1707	1036	1	and	and	CCONJ
cblr-1707	1036	2	it	it	PRON
cblr-1707	1036	3	did	do	AUX
cblr-1707	1036	4	not	not	PART
cblr-1707	1036	5	stop	stop	VERB
cblr-1707	1036	6	there	there	ADV
cblr-1707	1036	7	.	.	PUNCT
cblr-1707	1037	1	in	in	ADP
cblr-1707	1037	2	the	the	DET
cblr-1707	1037	3	late	late	ADJ
cblr-1707	1037	4	twentieth	twentieth	ADJ
cblr-1707	1037	5	century	century	NOUN
cblr-1707	1037	6	,	,	PUNCT
cblr-1707	1037	7	a	a	DET
cblr-1707	1037	8	large	large	ADJ
cblr-1707	1037	9	depositsubstitute	depositsubstitute	NOUN
cblr-1707	1037	10	ecosystem	ecosystem	NOUN
cblr-1707	1037	11	,	,	PUNCT
cblr-1707	1037	12	consisting	consist	VERB
cblr-1707	1037	13	of	of	ADP
cblr-1707	1037	14	various	various	ADJ
cblr-1707	1037	15	types	type	NOUN
cblr-1707	1037	16	of	of	ADP
cblr-1707	1037	17	financial	financial	ADJ
cblr-1707	1037	18	sector	sector	NOUN
cblr-1707	1037	19	short	short	ADJ
cblr-1707	1037	20	-	-	PUNCT
cblr-1707	1037	21	term	term	NOUN
cblr-1707	1037	22	debt	debt	NOUN
cblr-1707	1037	23	,	,	PUNCT
cblr-1707	1037	24	arose	arise	VERB
cblr-1707	1037	25	alongside	alongside	ADP
cblr-1707	1037	26	mmfs	mmfs	NOUN
cblr-1707	1037	27	.	.	PUNCT
cblr-1707	1038	1	in	in	ADP
cblr-1707	1038	2	the	the	DET
cblr-1707	1038	3	early	early	ADJ
cblr-1707	1038	4	years	year	NOUN
cblr-1707	1038	5	of	of	ADP
cblr-1707	1038	6	the	the	DET
cblr-1707	1038	7	twenty	twenty	NUM
cblr-1707	1038	8	-	-	PUNCT
cblr-1707	1038	9	first	first	ADJ
cblr-1707	1038	10	century	century	NOUN
cblr-1707	1038	11	,	,	PUNCT
cblr-1707	1038	12	this	this	DET
cblr-1707	1038	13	“	"	PUNCT
cblr-1707	1038	14	shadow	shadow	NOUN
cblr-1707	1038	15	deposit	deposit	NOUN
cblr-1707	1038	16	”	"	PUNCT
cblr-1707	1038	17	system	system	NOUN
cblr-1707	1038	18	assumed	assume	VERB
cblr-1707	1038	19	gigantic	gigantic	ADJ
cblr-1707	1038	20	proportions.174	proportions.174	ADV
cblr-1707	1038	21	instruments	instrument	NOUN
cblr-1707	1038	22	such	such	ADJ
cblr-1707	1038	23	as	as	ADP
cblr-1707	1038	24	repurchase	repurchase	VERB
cblr-1707	1038	25	(	(	PUNCT
cblr-1707	1038	26	“	"	PUNCT
cblr-1707	1038	27	repo	repo	VERB
cblr-1707	1038	28	”	"	PUNCT
cblr-1707	1038	29	)	)	PUNCT
cblr-1707	1038	30	agreements	agreement	NOUN
cblr-1707	1038	31	,	,	PUNCT
cblr-1707	1038	32	asset	asset	NOUN
cblr-1707	1038	33	-	-	PUNCT
cblr-1707	1038	34	backed	back	VERB
cblr-1707	1038	35	commercial	commercial	ADJ
cblr-1707	1038	36	paper	paper	NOUN
cblr-1707	1038	37	,	,	PUNCT
cblr-1707	1038	38	eurodollars	eurodollar	NOUN
cblr-1707	1038	39	,	,	PUNCT
cblr-1707	1038	40	and	and	CCONJ
cblr-1707	1038	41	auction	auction	NOUN
cblr-1707	1038	42	-	-	PUNCT
cblr-1707	1038	43	rate	rate	NOUN
cblr-1707	1038	44	securities	security	NOUN
cblr-1707	1038	45	came	come	VERB
cblr-1707	1038	46	to	to	PART
cblr-1707	1038	47	serve	serve	VERB
cblr-1707	1038	48	as	as	ADP
cblr-1707	1038	49	institutional	institutional	ADJ
cblr-1707	1038	50	alternatives	alternative	NOUN
cblr-1707	1038	51	to	to	ADP
cblr-1707	1038	52	bank	bank	NOUN
cblr-1707	1038	53	deposits	deposit	NOUN
cblr-1707	1038	54	.	.	PUNCT
cblr-1707	1039	1	these	these	PRON
cblr-1707	1039	2	shortterm	shortterm	VERB
cblr-1707	1039	3	debt	debt	NOUN
cblr-1707	1039	4	instruments	instrument	NOUN
cblr-1707	1039	5	are	be	AUX
cblr-1707	1039	6	classified	classify	VERB
cblr-1707	1039	7	as	as	ADP
cblr-1707	1039	8	“	"	PUNCT
cblr-1707	1039	9	cash	cash	NOUN
cblr-1707	1039	10	equivalents	equivalent	NOUN
cblr-1707	1039	11	”	"	PUNCT
cblr-1707	1039	12	for	for	ADP
cblr-1707	1039	13	accounting	account	VERB
cblr-1707	1039	14	purposes.175	purposes.175	NOUN
cblr-1707	1039	15	the	the	DET
cblr-1707	1039	16	accounting	accounting	NOUN
cblr-1707	1039	17	treatment	treatment	NOUN
cblr-1707	1039	18	reflects	reflect	VERB
cblr-1707	1039	19	a	a	DET
cblr-1707	1039	20	deeper	deep	ADJ
cblr-1707	1039	21	economic	economic	ADJ
cblr-1707	1039	22	reality	reality	NOUN
cblr-1707	1039	23	.	.	PUNCT
cblr-1707	1040	1	because	because	SCONJ
cblr-1707	1040	2	they	they	PRON
cblr-1707	1040	3	have	have	VERB
cblr-1707	1040	4	very	very	ADV
cblr-1707	1040	5	stable	stable	ADJ
cblr-1707	1040	6	values	value	NOUN
cblr-1707	1040	7	in	in	ADP
cblr-1707	1040	8	nominal	nominal	ADJ
cblr-1707	1040	9	terms	term	NOUN
cblr-1707	1040	10	,	,	PUNCT
cblr-1707	1040	11	these	these	DET
cblr-1707	1040	12	instruments	instrument	NOUN
cblr-1707	1040	13	are	be	AUX
cblr-1707	1040	14	effective	effective	ADJ
cblr-1707	1040	15	substitutes	substitute	NOUN
cblr-1707	1040	16	for	for	ADP
cblr-1707	1040	17	money	money	NOUN
cblr-1707	1040	18	;	;	PUNCT
cblr-1707	1040	19	they	they	PRON
cblr-1707	1040	20	satiate	satiate	VERB
cblr-1707	1040	21	money	money	NOUN
cblr-1707	1040	22	demand	demand	NOUN
cblr-1707	1040	23	.	.	PUNCT
cblr-1707	1041	1	it	it	PRON
cblr-1707	1041	2	is	be	AUX
cblr-1707	1041	3	increasingly	increasingly	ADV
cblr-1707	1041	4	recognized	recognize	VERB
cblr-1707	1041	5	that	that	SCONJ
cblr-1707	1041	6	their	their	PRON
cblr-1707	1041	7	issuance	issuance	NOUN
cblr-1707	1041	8	amounts	amount	VERB
cblr-1707	1041	9	to	to	ADP
cblr-1707	1041	10	money	money	NOUN
cblr-1707	1041	11	creation	creation	NOUN
cblr-1707	1041	12	outside	outside	ADP
cblr-1707	1041	13	the	the	DET
cblr-1707	1041	14	regular	regular	ADJ
cblr-1707	1041	15	money	money	NOUN
cblr-1707	1041	16	-	-	PUNCT
cblr-1707	1041	17	and	and	CCONJ
cblr-1707	1041	18	-	-	PUNCT
cblr-1707	1041	19	banking	banking	NOUN
cblr-1707	1041	20	system.176	system.176	NOUN
cblr-1707	1041	21	the	the	DET
cblr-1707	1041	22	unraveling	unraveling	NOUN
cblr-1707	1041	23	of	of	ADP
cblr-1707	1041	24	these	these	DET
cblr-1707	1041	25	cash	cash	NOUN
cblr-1707	1041	26	equivalent	equivalent	ADJ
cblr-1707	1041	27	markets	market	NOUN
cblr-1707	1041	28	was	be	AUX
cblr-1707	1041	29	central	central	ADJ
cblr-1707	1041	30	to	to	ADP
cblr-1707	1041	31	the	the	DET
cblr-1707	1041	32	financial	financial	ADJ
cblr-1707	1041	33	crisis	crisis	NOUN
cblr-1707	1041	34	of	of	ADP
cblr-1707	1041	35	2007–2009	2007–2009	NUM
cblr-1707	1041	36	and	and	CCONJ
cblr-1707	1041	37	the	the	DET
cblr-1707	1041	38	ensuing	ensue	VERB
cblr-1707	1041	39	great	great	ADJ
cblr-1707	1041	40	recession	recession	NOUN
cblr-1707	1041	41	.	.	PUNCT
cblr-1707	1042	1	if	if	SCONJ
cblr-1707	1042	2	we	we	PRON
cblr-1707	1042	3	are	be	AUX
cblr-1707	1042	4	going	go	VERB
cblr-1707	1042	5	to	to	PART
cblr-1707	1042	6	allow	allow	VERB
cblr-1707	1042	7	deposit	deposit	NOUN
cblr-1707	1042	8	substitutes	substitute	NOUN
cblr-1707	1042	9	to	to	PART
cblr-1707	1042	10	be	be	AUX
cblr-1707	1042	11	freely	freely	ADV
cblr-1707	1042	12	issued	issue	VERB
cblr-1707	1042	13	,	,	PUNCT
cblr-1707	1042	14	why	why	SCONJ
cblr-1707	1042	15	bother	bother	VERB
cblr-1707	1042	16	requiring	require	VERB
cblr-1707	1042	17	a	a	DET
cblr-1707	1042	18	special	special	ADJ
cblr-1707	1042	19	charter	charter	NOUN
cblr-1707	1042	20	to	to	PART
cblr-1707	1042	21	issue	issue	VERB
cblr-1707	1042	22	“	"	PUNCT
cblr-1707	1042	23	deposit	deposit	NOUN
cblr-1707	1042	24	”	"	PUNCT
cblr-1707	1042	25	debt	debt	NOUN
cblr-1707	1042	26	?	?	PUNCT
cblr-1707	1043	1	what	what	PRON
cblr-1707	1043	2	work	work	NOUN
cblr-1707	1043	3	is	be	AUX
cblr-1707	1043	4	banking	bank	VERB
cblr-1707	1043	5	law	law	NOUN
cblr-1707	1043	6	supposed	suppose	VERB
cblr-1707	1043	7	to	to	PART
cblr-1707	1043	8	be	be	AUX
cblr-1707	1043	9	doing	do	VERB
cblr-1707	1043	10	?	?	PUNCT
cblr-1707	1044	1	maybe	maybe	ADV
cblr-1707	1044	2	the	the	DET
cblr-1707	1044	3	whole	whole	ADJ
cblr-1707	1044	4	concept	concept	NOUN
cblr-1707	1044	5	of	of	ADP
cblr-1707	1044	6	banking	banking	NOUN
cblr-1707	1044	7	law	law	NOUN
cblr-1707	1044	8	is	be	AUX
cblr-1707	1044	9	outmoded	outmoded	ADJ
cblr-1707	1044	10	.	.	PUNCT
cblr-1707	1045	1	after	after	ADV
cblr-1707	1045	2	all	all	ADV
cblr-1707	1045	3	,	,	PUNCT
cblr-1707	1045	4	a	a	DET
cblr-1707	1045	5	singular	singular	ADJ
cblr-1707	1045	6	feature	feature	NOUN
cblr-1707	1045	7	of	of	ADP
cblr-1707	1045	8	the	the	DET
cblr-1707	1045	9	intermediation	intermediation	NOUN
cblr-1707	1045	10	paradigm	paradigm	NOUN
cblr-1707	1045	11	is	be	AUX
cblr-1707	1045	12	its	its	PRON
cblr-1707	1045	13	insistence	insistence	NOUN
cblr-1707	1045	14	on	on	ADP
cblr-1707	1045	15	downplaying	downplay	VERB
cblr-1707	1045	16	,	,	PUNCT
cblr-1707	1045	17	or	or	CCONJ
cblr-1707	1045	18	denying	deny	VERB
cblr-1707	1045	19	altogether	altogether	ADV
cblr-1707	1045	20	,	,	PUNCT
cblr-1707	1045	21	the	the	DET
cblr-1707	1045	22	specialness	specialness	NOUN
cblr-1707	1045	23	of	of	ADP
cblr-1707	1045	24	“	"	PUNCT
cblr-1707	1045	25	money”-type	money”-type	NOUN
cblr-1707	1045	26	claims	claim	NOUN
cblr-1707	1045	27	and	and	CCONJ
cblr-1707	1045	28	their	their	PRON
cblr-1707	1045	29	issuers	issuer	NOUN
cblr-1707	1045	30	.	.	PUNCT
cblr-1707	1046	1	james	james	PROPN
cblr-1707	1046	2	tobin	tobin	PROPN
cblr-1707	1046	3	,	,	PUNCT
cblr-1707	1046	4	to	to	PART
cblr-1707	1046	5	take	take	VERB
cblr-1707	1046	6	a	a	DET
cblr-1707	1046	7	prominent	prominent	ADJ
cblr-1707	1046	8	example	example	NOUN
cblr-1707	1046	9	,	,	PUNCT
cblr-1707	1046	10	sought	seek	VERB
cblr-1707	1046	11	explicitly	explicitly	ADV
cblr-1707	1046	12	to	to	PART
cblr-1707	1046	13	“	"	PUNCT
cblr-1707	1046	14	blur	blur	VERB
cblr-1707	1046	15	the	the	DET
cblr-1707	1046	16	sharp	sharp	ADJ
cblr-1707	1046	17	traditional	traditional	ADJ
cblr-1707	1046	18	distinctions	distinction	NOUN
cblr-1707	1046	19	between	between	ADP
cblr-1707	1046	20	money	money	NOUN
cblr-1707	1046	21	and	and	CCONJ
cblr-1707	1046	22	other	other	ADJ
cblr-1707	1046	23	173	173	NUM
cblr-1707	1046	24	see	see	VERB
cblr-1707	1046	25	george	george	PROPN
cblr-1707	1046	26	e.	e.	PROPN
cblr-1707	1046	27	barnett	barnett	PROPN
cblr-1707	1046	28	,	,	PUNCT
cblr-1707	1046	29	state	state	NOUN
cblr-1707	1046	30	banks	bank	NOUN
cblr-1707	1046	31	and	and	CCONJ
cblr-1707	1046	32	trust	trust	NOUN
cblr-1707	1046	33	companies	company	NOUN
cblr-1707	1046	34	since	since	SCONJ
cblr-1707	1046	35	the	the	DET
cblr-1707	1046	36	passage	passage	NOUN
cblr-1707	1046	37	of	of	ADP
cblr-1707	1046	38	the	the	DET
cblr-1707	1046	39	national	national	ADJ
cblr-1707	1046	40	-	-	PUNCT
cblr-1707	1046	41	bank	bank	NOUN
cblr-1707	1046	42	act	act	NOUN
cblr-1707	1046	43	,	,	PUNCT
cblr-1707	1046	44	s.	s.	PROPN
cblr-1707	1046	45	doc	doc	PROPN
cblr-1707	1046	46	.	.	PUNCT
cblr-1707	1047	1	no	no	INTJ
cblr-1707	1047	2	.	.	PUNCT
cblr-1707	1048	1	61–659	61–659	NUM
cblr-1707	1048	2	,	,	PUNCT
cblr-1707	1048	3	at	at	ADP
cblr-1707	1048	4	11–12	11–12	NUM
cblr-1707	1048	5	(	(	PUNCT
cblr-1707	1048	6	3d	3d	NUM
cblr-1707	1048	7	sess	sess	NOUN
cblr-1707	1048	8	.	.	PUNCT
cblr-1707	1049	1	1911	1911	NUM
cblr-1707	1049	2	)	)	PUNCT
cblr-1707	1049	3	.	.	PUNCT
cblr-1707	1050	1	174	174	NUM
cblr-1707	1050	2	see	see	VERB
cblr-1707	1050	3	ricks	rick	NOUN
cblr-1707	1050	4	,	,	PUNCT
cblr-1707	1050	5	supra	supra	PROPN
cblr-1707	1050	6	note	note	PROPN
cblr-1707	1050	7	19	19	NUM
cblr-1707	1050	8	,	,	PUNCT
cblr-1707	1050	9	at	at	ADP
cblr-1707	1050	10	32–37	32–37	NUM
cblr-1707	1050	11	.	.	PUNCT
cblr-1707	1051	1	175	175	NUM
cblr-1707	1051	2	fin	fin	NOUN
cblr-1707	1051	3	.	.	PUNCT
cblr-1707	1052	1	accounting	accounting	NOUN
cblr-1707	1052	2	standards	standard	NOUN
cblr-1707	1052	3	bd	bd	PROPN
cblr-1707	1052	4	.	.	PROPN
cblr-1707	1052	5	,	,	PUNCT
cblr-1707	1052	6	statement	statement	NOUN
cblr-1707	1052	7	of	of	ADP
cblr-1707	1052	8	financial	financial	ADJ
cblr-1707	1052	9	accounting	accounting	NOUN
cblr-1707	1052	10	standards	standard	NOUN
cblr-1707	1053	1	no	no	INTJ
cblr-1707	1053	2	.	.	NOUN
cblr-1707	1053	3	95	95	NUM
cblr-1707	1053	4	:	:	PUNCT
cblr-1707	1053	5	statement	statement	NOUN
cblr-1707	1053	6	of	of	ADP
cblr-1707	1053	7	cash	cash	NOUN
cblr-1707	1053	8	flows	flow	NOUN
cblr-1707	1053	9	(	(	PUNCT
cblr-1707	1053	10	1987	1987	NUM
cblr-1707	1053	11	)	)	PUNCT
cblr-1707	1053	12	.	.	PUNCT
cblr-1707	1054	1	176	176	NUM
cblr-1707	1054	2	see	see	VERB
cblr-1707	1054	3	supra	supra	PROPN
cblr-1707	1054	4	notes	note	NOUN
cblr-1707	1054	5	24–29	24–29	NUM
cblr-1707	1054	6	and	and	CCONJ
cblr-1707	1054	7	accompanying	accompanying	ADJ
cblr-1707	1054	8	text	text	NOUN
cblr-1707	1054	9	.	.	PUNCT
cblr-1707	1055	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	1055	2	no	no	NOUN
cblr-1707	1055	3	.	.	PUNCT
cblr-1707	1056	1	3:757	3:757	NUM
cblr-1707	1056	2	]	]	X
cblr-1707	1056	3	money	money	NOUN
cblr-1707	1056	4	as	as	ADP
cblr-1707	1056	5	infrastructure	infrastructure	NOUN
cblr-1707	1056	6	815	815	NUM
cblr-1707	1056	7	assets	asset	NOUN
cblr-1707	1056	8	and	and	CCONJ
cblr-1707	1056	9	between	between	ADP
cblr-1707	1056	10	commercial	commercial	ADJ
cblr-1707	1056	11	banks	bank	NOUN
cblr-1707	1056	12	and	and	CCONJ
cblr-1707	1056	13	other	other	ADJ
cblr-1707	1056	14	financial	financial	ADJ
cblr-1707	1056	15	intermediaries	intermediary	NOUN
cblr-1707	1056	16	.	.	PUNCT
cblr-1707	1057	1	”177	”177	VERB
cblr-1707	1057	2	money	money	NOUN
cblr-1707	1057	3	and	and	CCONJ
cblr-1707	1057	4	its	its	PRON
cblr-1707	1057	5	creation	creation	NOUN
cblr-1707	1057	6	are	be	AUX
cblr-1707	1057	7	nothing	nothing	PRON
cblr-1707	1057	8	special	special	ADJ
cblr-1707	1057	9	in	in	ADP
cblr-1707	1057	10	this	this	DET
cblr-1707	1057	11	view	view	NOUN
cblr-1707	1057	12	.	.	PUNCT
cblr-1707	1058	1	modern	modern	ADJ
cblr-1707	1058	2	legislators	legislator	NOUN
cblr-1707	1058	3	and	and	CCONJ
cblr-1707	1058	4	regulators	regulator	NOUN
cblr-1707	1058	5	have	have	AUX
cblr-1707	1058	6	taken	take	VERB
cblr-1707	1058	7	this	this	DET
cblr-1707	1058	8	conceptual	conceptual	ADJ
cblr-1707	1058	9	“	"	PUNCT
cblr-1707	1058	10	blurring	blurring	NOUN
cblr-1707	1058	11	”	"	PUNCT
cblr-1707	1058	12	to	to	ADP
cblr-1707	1058	13	heart	heart	NOUN
cblr-1707	1058	14	.	.	PUNCT
cblr-1707	1059	1	among	among	ADP
cblr-1707	1059	2	the	the	DET
cblr-1707	1059	3	key	key	ADJ
cblr-1707	1059	4	innovations	innovation	NOUN
cblr-1707	1059	5	of	of	ADP
cblr-1707	1059	6	the	the	DET
cblr-1707	1059	7	dodd	dodd	PROPN
cblr-1707	1059	8	-	-	PUNCT
cblr-1707	1059	9	frank	frank	PROPN
cblr-1707	1059	10	wall	wall	PROPN
cblr-1707	1059	11	street	street	PROPN
cblr-1707	1059	12	reform	reform	PROPN
cblr-1707	1059	13	and	and	CCONJ
cblr-1707	1059	14	consumer	consumer	NOUN
cblr-1707	1059	15	protection	protection	PROPN
cblr-1707	1059	16	act	act	NOUN
cblr-1707	1059	17	of	of	ADP
cblr-1707	1059	18	2010	2010	NUM
cblr-1707	1059	19	were	be	AUX
cblr-1707	1059	20	mechanisms	mechanism	NOUN
cblr-1707	1059	21	to	to	PART
cblr-1707	1059	22	extend	extend	VERB
cblr-1707	1059	23	bank	bank	NOUN
cblr-1707	1059	24	-	-	PUNCT
cblr-1707	1059	25	type	type	NOUN
cblr-1707	1059	26	regulation	regulation	NOUN
cblr-1707	1059	27	,	,	PUNCT
cblr-1707	1059	28	supervision,178	supervision,178	ADV
cblr-1707	1059	29	and	and	CCONJ
cblr-1707	1059	30	insolvency	insolvency	NOUN
cblr-1707	1059	31	proceedings179	proceedings179	PROPN
cblr-1707	1059	32	beyond	beyond	ADP
cblr-1707	1059	33	the	the	DET
cblr-1707	1059	34	banking	banking	NOUN
cblr-1707	1059	35	system	system	NOUN
cblr-1707	1059	36	proper	proper	ADJ
cblr-1707	1059	37	.	.	PUNCT
cblr-1707	1060	1	modern	modern	ADJ
cblr-1707	1060	2	approaches	approach	NOUN
cblr-1707	1060	3	to	to	ADP
cblr-1707	1060	4	so	so	ADV
cblr-1707	1060	5	-	-	PUNCT
cblr-1707	1060	6	called	call	VERB
cblr-1707	1060	7	“	"	PUNCT
cblr-1707	1060	8	macroprudential	macroprudential	ADJ
cblr-1707	1060	9	”	"	PUNCT
cblr-1707	1060	10	supervision	supervision	NOUN
cblr-1707	1060	11	of	of	ADP
cblr-1707	1060	12	the	the	DET
cblr-1707	1060	13	financial	financial	ADJ
cblr-1707	1060	14	system	system	NOUN
cblr-1707	1060	15	reflect	reflect	VERB
cblr-1707	1060	16	a	a	DET
cblr-1707	1060	17	similar	similar	ADJ
cblr-1707	1060	18	sentiment.180	sentiment.180	NOUN
cblr-1707	1060	19	the	the	DET
cblr-1707	1060	20	money	money	NOUN
cblr-1707	1060	21	paradigm	paradigm	NOUN
cblr-1707	1060	22	turns	turn	VERB
cblr-1707	1060	23	this	this	DET
cblr-1707	1060	24	logic	logic	NOUN
cblr-1707	1060	25	on	on	ADP
cblr-1707	1060	26	its	its	PRON
cblr-1707	1060	27	head	head	NOUN
cblr-1707	1060	28	.	.	PUNCT
cblr-1707	1061	1	if	if	SCONJ
cblr-1707	1061	2	money	money	NOUN
cblr-1707	1061	3	creation	creation	NOUN
cblr-1707	1061	4	is	be	AUX
cblr-1707	1061	5	an	an	DET
cblr-1707	1061	6	intrinsically	intrinsically	ADV
cblr-1707	1061	7	public	public	ADJ
cblr-1707	1061	8	activity	activity	NOUN
cblr-1707	1061	9	—	—	PUNCT
cblr-1707	1061	10	and	and	CCONJ
cblr-1707	1061	11	if	if	SCONJ
cblr-1707	1061	12	private	private	ADJ
cblr-1707	1061	13	encroachment	encroachment	NOUN
cblr-1707	1061	14	into	into	ADP
cblr-1707	1061	15	money	money	NOUN
cblr-1707	1061	16	creation	creation	NOUN
cblr-1707	1061	17	implicates	implicate	VERB
cblr-1707	1061	18	sensitive	sensitive	ADJ
cblr-1707	1061	19	issues	issue	NOUN
cblr-1707	1061	20	of	of	ADP
cblr-1707	1061	21	systemic	systemic	ADJ
cblr-1707	1061	22	stability	stability	NOUN
cblr-1707	1061	23	,	,	PUNCT
cblr-1707	1061	24	macroeconomic	macroeconomic	ADJ
cblr-1707	1061	25	management	management	NOUN
cblr-1707	1061	26	,	,	PUNCT
cblr-1707	1061	27	and	and	CCONJ
cblr-1707	1061	28	private	private	ADJ
cblr-1707	1061	29	capture	capture	NOUN
cblr-1707	1061	30	of	of	ADP
cblr-1707	1061	31	seigniorage	seigniorage	NOUN
cblr-1707	1061	32	—	—	PUNCT
cblr-1707	1061	33	then	then	ADV
cblr-1707	1061	34	it	it	PRON
cblr-1707	1061	35	almost	almost	ADV
cblr-1707	1061	36	goes	go	VERB
cblr-1707	1061	37	without	without	ADP
cblr-1707	1061	38	saying	say	VERB
cblr-1707	1061	39	that	that	SCONJ
cblr-1707	1061	40	money	money	NOUN
cblr-1707	1061	41	creation	creation	NOUN
cblr-1707	1061	42	needs	need	VERB
cblr-1707	1061	43	to	to	PART
cblr-1707	1061	44	be	be	AUX
cblr-1707	1061	45	confined	confine	VERB
cblr-1707	1061	46	to	to	ADP
cblr-1707	1061	47	the	the	DET
cblr-1707	1061	48	government	government	NOUN
cblr-1707	1061	49	itself	itself	PRON
cblr-1707	1061	50	and	and	CCONJ
cblr-1707	1061	51	its	its	PRON
cblr-1707	1061	52	designated	designate	VERB
cblr-1707	1061	53	franchisees	franchisee	NOUN
cblr-1707	1061	54	.	.	PUNCT
cblr-1707	1062	1	on	on	ADP
cblr-1707	1062	2	this	this	DET
cblr-1707	1062	3	view	view	NOUN
cblr-1707	1062	4	,	,	PUNCT
cblr-1707	1062	5	entry	entry	NOUN
cblr-1707	1062	6	restriction	restriction	NOUN
cblr-1707	1062	7	is	be	AUX
cblr-1707	1062	8	indispensable	indispensable	ADJ
cblr-1707	1062	9	;	;	PUNCT
cblr-1707	1062	10	it	it	PRON
cblr-1707	1062	11	is	be	AUX
cblr-1707	1062	12	implicit	implicit	ADJ
cblr-1707	1062	13	in	in	ADP
cblr-1707	1062	14	the	the	DET
cblr-1707	1062	15	whole	whole	ADJ
cblr-1707	1062	16	concept	concept	NOUN
cblr-1707	1062	17	of	of	ADP
cblr-1707	1062	18	outsourcing	outsourcing	NOUN
cblr-1707	1062	19	or	or	CCONJ
cblr-1707	1062	20	procurement	procurement	NOUN
cblr-1707	1062	21	.	.	PUNCT
cblr-1707	1063	1	historically	historically	ADV
cblr-1707	1063	2	,	,	PUNCT
cblr-1707	1063	3	as	as	SCONJ
cblr-1707	1063	4	we	we	PRON
cblr-1707	1063	5	have	have	AUX
cblr-1707	1063	6	seen	see	VERB
cblr-1707	1063	7	,	,	PUNCT
cblr-1707	1063	8	bank	bank	NOUN
cblr-1707	1063	9	regulation	regulation	NOUN
cblr-1707	1063	10	sought	seek	VERB
cblr-1707	1063	11	to	to	PART
cblr-1707	1063	12	do	do	VERB
cblr-1707	1063	13	precisely	precisely	ADV
cblr-1707	1063	14	this	this	PRON
cblr-1707	1063	15	,	,	PUNCT
cblr-1707	1063	16	albeit	albeit	SCONJ
cblr-1707	1063	17	formalistically	formalistically	ADV
cblr-1707	1063	18	.	.	PUNCT
cblr-1707	1064	1	the	the	DET
cblr-1707	1064	2	system	system	NOUN
cblr-1707	1064	3	of	of	ADP
cblr-1707	1064	4	rate	rate	NOUN
cblr-1707	1064	5	regulation	regulation	NOUN
cblr-1707	1064	6	described	describe	VERB
cblr-1707	1064	7	in	in	ADP
cblr-1707	1064	8	part	part	NOUN
cblr-1707	1064	9	ii	ii	PROPN
cblr-1707	1064	10	would	would	AUX
cblr-1707	1064	11	require	require	VERB
cblr-1707	1064	12	doing	do	VERB
cblr-1707	1064	13	entry	entry	NOUN
cblr-1707	1064	14	restriction	restriction	NOUN
cblr-1707	1064	15	along	along	ADP
cblr-1707	1064	16	functional	functional	ADJ
cblr-1707	1064	17	lines	line	NOUN
cblr-1707	1064	18	.	.	PUNCT
cblr-1707	1065	1	in	in	ADP
cblr-1707	1065	2	other	other	ADJ
cblr-1707	1065	3	177	177	NUM
cblr-1707	1065	4	tobin	tobin	NOUN
cblr-1707	1065	5	,	,	PUNCT
cblr-1707	1065	6	supra	supra	PROPN
cblr-1707	1065	7	note	note	PROPN
cblr-1707	1065	8	16	16	NUM
cblr-1707	1065	9	,	,	PUNCT
cblr-1707	1065	10	at	at	ADP
cblr-1707	1065	11	410	410	NUM
cblr-1707	1065	12	.	.	NOUN
cblr-1707	1065	13	178	178	NUM
cblr-1707	1065	14	see	see	VERB
cblr-1707	1065	15	dodd	dodd	PROPN
cblr-1707	1065	16	-	-	PUNCT
cblr-1707	1065	17	frank	frank	PROPN
cblr-1707	1065	18	wall	wall	PROPN
cblr-1707	1065	19	street	street	PROPN
cblr-1707	1065	20	reform	reform	PROPN
cblr-1707	1065	21	and	and	CCONJ
cblr-1707	1065	22	consumer	consumer	NOUN
cblr-1707	1065	23	protection	protection	PROPN
cblr-1707	1065	24	act	act	PROPN
cblr-1707	1065	25	§	§	PROPN
cblr-1707	1065	26	§	§	PROPN
cblr-1707	1065	27	111–123	111–123	NUM
cblr-1707	1065	28	,	,	PUNCT
cblr-1707	1065	29	12	12	NUM
cblr-1707	1065	30	u.s.c	u.s.c	ADJ
cblr-1707	1065	31	.	.	PUNCT
cblr-1707	1066	1	§	§	PROPN
cblr-1707	1066	2	§	§	PROPN
cblr-1707	1066	3	5321–5333	5321–5333	NUM
cblr-1707	1066	4	(	(	PUNCT
cblr-1707	1066	5	2012	2012	NUM
cblr-1707	1066	6	)	)	PUNCT
cblr-1707	1066	7	;	;	PUNCT
cblr-1707	1066	8	see	see	VERB
cblr-1707	1066	9	also	also	ADV
cblr-1707	1066	10	daniel	daniel	PROPN
cblr-1707	1066	11	k.	k.	PROPN
cblr-1707	1066	12	tarullo	tarullo	PROPN
cblr-1707	1066	13	,	,	PUNCT
cblr-1707	1066	14	member	member	NOUN
cblr-1707	1066	15	,	,	PUNCT
cblr-1707	1066	16	bd	bd	PROPN
cblr-1707	1066	17	.	.	PROPN
cblr-1707	1066	18	of	of	ADP
cblr-1707	1066	19	governors	governor	NOUN
cblr-1707	1066	20	of	of	ADP
cblr-1707	1066	21	the	the	DET
cblr-1707	1066	22	fed	fed	PROPN
cblr-1707	1066	23	.	.	PUNCT
cblr-1707	1067	1	reserve	reserve	PROPN
cblr-1707	1067	2	sys	sys	PROPN
cblr-1707	1067	3	.	.	PROPN
cblr-1707	1067	4	,	,	PUNCT
cblr-1707	1067	5	remarks	remark	VERB
cblr-1707	1067	6	at	at	ADP
cblr-1707	1067	7	the	the	DET
cblr-1707	1067	8	americans	americans	PROPN
cblr-1707	1067	9	for	for	ADP
cblr-1707	1067	10	financial	financial	ADJ
cblr-1707	1067	11	reform	reform	NOUN
cblr-1707	1067	12	and	and	CCONJ
cblr-1707	1067	13	economic	economic	ADJ
cblr-1707	1067	14	policy	policy	NOUN
cblr-1707	1067	15	institute	institute	PROPN
cblr-1707	1067	16	conference	conference	NOUN
cblr-1707	1067	17	,	,	PUNCT
cblr-1707	1067	18	shadow	shadow	NOUN
cblr-1707	1067	19	banking	banking	NOUN
cblr-1707	1067	20	and	and	CCONJ
cblr-1707	1067	21	systemic	systemic	ADJ
cblr-1707	1067	22	risk	risk	NOUN
cblr-1707	1067	23	regulation	regulation	NOUN
cblr-1707	1067	24	(	(	PUNCT
cblr-1707	1067	25	nov	nov	PROPN
cblr-1707	1067	26	.	.	PROPN
cblr-1707	1067	27	22	22	NUM
cblr-1707	1067	28	,	,	PUNCT
cblr-1707	1067	29	2013	2013	NUM
cblr-1707	1067	30	)	)	PUNCT
cblr-1707	1067	31	(	(	PUNCT
cblr-1707	1067	32	“	"	PUNCT
cblr-1707	1067	33	the	the	DET
cblr-1707	1067	34	process	process	NOUN
cblr-1707	1067	35	established	establish	VERB
cblr-1707	1067	36	by	by	ADP
cblr-1707	1067	37	the	the	DET
cblr-1707	1067	38	dodd	dodd	PROPN
cblr-1707	1067	39	-	-	PUNCT
cblr-1707	1067	40	frank	frank	PROPN
cblr-1707	1067	41	wall	wall	PROPN
cblr-1707	1067	42	street	street	PROPN
cblr-1707	1067	43	reform	reform	PROPN
cblr-1707	1067	44	and	and	CCONJ
cblr-1707	1067	45	consumer	consumer	NOUN
cblr-1707	1067	46	protection	protection	NOUN
cblr-1707	1067	47	act	act	NOUN
cblr-1707	1067	48	for	for	ADP
cblr-1707	1067	49	designation	designation	NOUN
cblr-1707	1067	50	of	of	ADP
cblr-1707	1067	51	systemically	systemically	ADV
cblr-1707	1067	52	important	important	ADJ
cblr-1707	1067	53	non	non	ADJ
cblr-1707	1067	54	-	-	ADJ
cblr-1707	1067	55	bank	bank	ADJ
cblr-1707	1067	56	firms	firm	NOUN
cblr-1707	1067	57	has	have	AUX
cblr-1707	1067	58	provided	provide	VERB
cblr-1707	1067	59	a	a	DET
cblr-1707	1067	60	means	mean	NOUN
cblr-1707	1067	61	for	for	ADP
cblr-1707	1067	62	ensuring	ensure	VERB
cblr-1707	1067	63	that	that	SCONJ
cblr-1707	1067	64	the	the	DET
cblr-1707	1067	65	perimeter	perimeter	NOUN
cblr-1707	1067	66	of	of	ADP
cblr-1707	1067	67	prudential	prudential	PROPN
cblr-1707	1067	68	regulation	regulation	NOUN
cblr-1707	1067	69	can	can	AUX
cblr-1707	1067	70	be	be	AUX
cblr-1707	1067	71	extended	extend	VERB
cblr-1707	1067	72	as	as	ADP
cblr-1707	1067	73	appropriate	appropriate	ADJ
cblr-1707	1067	74	to	to	PART
cblr-1707	1067	75	cover	cover	VERB
cblr-1707	1067	76	large	large	ADJ
cblr-1707	1067	77	shadow	shadow	NOUN
cblr-1707	1067	78	banking	banking	NOUN
cblr-1707	1067	79	institutions	institution	NOUN
cblr-1707	1067	80	.	.	PUNCT
cblr-1707	1067	81	”	"	PUNCT
cblr-1707	1067	82	)	)	PUNCT
cblr-1707	1067	83	.	.	PUNCT
cblr-1707	1068	1	179	179	NUM
cblr-1707	1068	2	see	see	VERB
cblr-1707	1068	3	dodd	dodd	PROPN
cblr-1707	1068	4	-	-	PUNCT
cblr-1707	1068	5	frank	frank	PROPN
cblr-1707	1068	6	wall	wall	PROPN
cblr-1707	1068	7	street	street	PROPN
cblr-1707	1068	8	reform	reform	PROPN
cblr-1707	1068	9	and	and	CCONJ
cblr-1707	1068	10	consumer	consumer	NOUN
cblr-1707	1068	11	protection	protection	PROPN
cblr-1707	1068	12	act	act	PROPN
cblr-1707	1068	13	§	§	PROPN
cblr-1707	1068	14	§	§	PROPN
cblr-1707	1068	15	201–217	201–217	NUM
cblr-1707	1068	16	,	,	PUNCT
cblr-1707	1068	17	12	12	NUM
cblr-1707	1068	18	u.s.c	u.s.c	NOUN
cblr-1707	1068	19	.	.	PUNCT
cblr-1707	1069	1	§	§	PROPN
cblr-1707	1069	2	§	§	PROPN
cblr-1707	1069	3	5381–5394	5381–5394	NUM
cblr-1707	1069	4	(	(	PUNCT
cblr-1707	1069	5	2012	2012	NUM
cblr-1707	1069	6	)	)	PUNCT
cblr-1707	1069	7	.	.	PUNCT
cblr-1707	1070	1	180	180	NUM
cblr-1707	1070	2	see	see	VERB
cblr-1707	1070	3	,	,	PUNCT
cblr-1707	1070	4	e.g.	e.g.	ADV
cblr-1707	1070	5	,	,	PUNCT
cblr-1707	1070	6	janet	janet	PROPN
cblr-1707	1070	7	l.	l.	PROPN
cblr-1707	1070	8	yellen	yellen	PROPN
cblr-1707	1070	9	,	,	PUNCT
cblr-1707	1070	10	vice	vice	NOUN
cblr-1707	1070	11	chair	chair	NOUN
cblr-1707	1070	12	,	,	PUNCT
cblr-1707	1070	13	bd	bd	PROPN
cblr-1707	1070	14	.	.	PROPN
cblr-1707	1070	15	of	of	ADP
cblr-1707	1070	16	governors	governor	NOUN
cblr-1707	1070	17	of	of	ADP
cblr-1707	1070	18	the	the	DET
cblr-1707	1070	19	fed	fed	PROPN
cblr-1707	1070	20	.	.	PUNCT
cblr-1707	1071	1	reserve	reserve	PROPN
cblr-1707	1071	2	sys	sys	PROPN
cblr-1707	1071	3	.	.	PROPN
cblr-1707	1071	4	,	,	PUNCT
cblr-1707	1071	5	remarks	remark	VERB
cblr-1707	1071	6	at	at	ADP
cblr-1707	1071	7	the	the	DET
cblr-1707	1071	8	annual	annual	ADJ
cblr-1707	1071	9	meeting	meeting	NOUN
cblr-1707	1071	10	of	of	ADP
cblr-1707	1071	11	the	the	DET
cblr-1707	1071	12	national	national	PROPN
cblr-1707	1071	13	association	association	PROPN
cblr-1707	1071	14	for	for	ADP
cblr-1707	1071	15	business	business	NOUN
cblr-1707	1071	16	economics	economic	NOUN
cblr-1707	1071	17	,	,	PUNCT
cblr-1707	1071	18	macroprudential	macroprudential	ADJ
cblr-1707	1071	19	supervision	supervision	NOUN
cblr-1707	1071	20	and	and	CCONJ
cblr-1707	1071	21	monetary	monetary	ADJ
cblr-1707	1071	22	policy	policy	NOUN
cblr-1707	1071	23	in	in	ADP
cblr-1707	1071	24	the	the	DET
cblr-1707	1071	25	post	post	ADJ
cblr-1707	1071	26	-	-	ADJ
cblr-1707	1071	27	crisis	crisis	ADJ
cblr-1707	1071	28	world	world	NOUN
cblr-1707	1071	29	(	(	PUNCT
cblr-1707	1071	30	oct	oct	PROPN
cblr-1707	1071	31	.	.	PROPN
cblr-1707	1071	32	11	11	NUM
cblr-1707	1071	33	,	,	PUNCT
cblr-1707	1071	34	2010	2010	NUM
cblr-1707	1071	35	)	)	PUNCT
cblr-1707	1071	36	.	.	PUNCT
cblr-1707	1072	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	1072	2	816	816	NUM
cblr-1707	1072	3	columbia	columbia	PROPN
cblr-1707	1072	4	business	business	NOUN
cblr-1707	1072	5	law	law	PROPN
cblr-1707	1072	6	review	review	NOUN
cblr-1707	1072	7	[	[	X
cblr-1707	1072	8	vol	vol	NOUN
cblr-1707	1072	9	.	.	NOUN
cblr-1707	1072	10	2018	2018	NUM
cblr-1707	1072	11	words	word	NOUN
cblr-1707	1072	12	,	,	PUNCT
cblr-1707	1072	13	u.s	u.s	PROPN
cblr-1707	1072	14	.	.	PROPN
cblr-1707	1072	15	banking	banking	NOUN
cblr-1707	1072	16	law	law	NOUN
cblr-1707	1072	17	’s	’s	PART
cblr-1707	1072	18	current	current	ADJ
cblr-1707	1072	19	prohibition	prohibition	NOUN
cblr-1707	1072	20	on	on	ADP
cblr-1707	1072	21	incurring	incur	VERB
cblr-1707	1072	22	“	"	PUNCT
cblr-1707	1072	23	deposit	deposit	NOUN
cblr-1707	1072	24	”	"	PUNCT
cblr-1707	1072	25	liabilities	liability	NOUN
cblr-1707	1072	26	without	without	SCONJ
cblr-1707	1072	27	a	a	DET
cblr-1707	1072	28	bank	bank	NOUN
cblr-1707	1072	29	charter	charter	NOUN
cblr-1707	1072	30	would	would	AUX
cblr-1707	1072	31	need	need	VERB
cblr-1707	1072	32	to	to	PART
cblr-1707	1072	33	be	be	AUX
cblr-1707	1072	34	modernized	modernize	VERB
cblr-1707	1072	35	to	to	PART
cblr-1707	1072	36	suppress	suppress	VERB
cblr-1707	1072	37	issuances	issuance	NOUN
cblr-1707	1072	38	of	of	ADP
cblr-1707	1072	39	cash	cash	NOUN
cblr-1707	1072	40	equivalents	equivalent	NOUN
cblr-1707	1072	41	by	by	ADP
cblr-1707	1072	42	nonbank	nonbank	PROPN
cblr-1707	1072	43	financial	financial	ADJ
cblr-1707	1072	44	institutions	institution	NOUN
cblr-1707	1072	45	.	.	PUNCT
cblr-1707	1073	1	i	i	PRON
cblr-1707	1073	2	have	have	AUX
cblr-1707	1073	3	argued	argue	VERB
cblr-1707	1073	4	elsewhere	elsewhere	ADV
cblr-1707	1073	5	that	that	SCONJ
cblr-1707	1073	6	such	such	DET
cblr-1707	1073	7	an	an	DET
cblr-1707	1073	8	update	update	NOUN
cblr-1707	1073	9	is	be	AUX
cblr-1707	1073	10	both	both	CCONJ
cblr-1707	1073	11	feasible	feasible	ADJ
cblr-1707	1073	12	and	and	CCONJ
cblr-1707	1073	13	desirable.181	desirable.181	VERB
cblr-1707	1073	14	this	this	PRON
cblr-1707	1073	15	brings	bring	VERB
cblr-1707	1073	16	us	we	PRON
cblr-1707	1073	17	to	to	ADP
cblr-1707	1073	18	the	the	DET
cblr-1707	1073	19	second	second	ADJ
cblr-1707	1073	20	prong	prong	NOUN
cblr-1707	1073	21	of	of	ADP
cblr-1707	1073	22	the	the	DET
cblr-1707	1073	23	entry	entry	NOUN
cblr-1707	1073	24	restriction	restriction	NOUN
cblr-1707	1073	25	analysis	analysis	NOUN
cblr-1707	1073	26	:	:	PUNCT
cblr-1707	1073	27	once	once	SCONJ
cblr-1707	1073	28	entry	entry	NOUN
cblr-1707	1073	29	into	into	ADP
cblr-1707	1073	30	money	money	NOUN
cblr-1707	1073	31	creation	creation	NOUN
cblr-1707	1073	32	has	have	AUX
cblr-1707	1073	33	been	be	AUX
cblr-1707	1073	34	restricted	restrict	VERB
cblr-1707	1073	35	,	,	PUNCT
cblr-1707	1073	36	who	who	PRON
cblr-1707	1073	37	gets	get	VERB
cblr-1707	1073	38	to	to	PART
cblr-1707	1073	39	enter	enter	VERB
cblr-1707	1073	40	?	?	PUNCT
cblr-1707	1074	1	b.	b.	VERB
cblr-1707	1075	1	the	the	DET
cblr-1707	1075	2	bipolar	bipolar	ADJ
cblr-1707	1075	3	history	history	NOUN
cblr-1707	1075	4	of	of	ADP
cblr-1707	1075	5	u.s	u.s	PROPN
cblr-1707	1075	6	.	.	PROPN
cblr-1707	1075	7	bank	bank	NOUN
cblr-1707	1075	8	chartering	chartering	NOUN
cblr-1707	1075	9	standards	standard	NOUN
cblr-1707	1075	10	confining	confine	VERB
cblr-1707	1075	11	money	money	NOUN
cblr-1707	1075	12	creation	creation	NOUN
cblr-1707	1075	13	to	to	ADP
cblr-1707	1075	14	licensed	licensed	ADJ
cblr-1707	1075	15	banks	bank	NOUN
cblr-1707	1075	16	is	be	AUX
cblr-1707	1075	17	only	only	ADV
cblr-1707	1075	18	half	half	DET
cblr-1707	1075	19	the	the	DET
cblr-1707	1075	20	story	story	NOUN
cblr-1707	1075	21	of	of	ADP
cblr-1707	1075	22	entry	entry	NOUN
cblr-1707	1075	23	restriction	restriction	NOUN
cblr-1707	1075	24	.	.	PUNCT
cblr-1707	1076	1	for	for	ADP
cblr-1707	1076	2	how	how	SCONJ
cblr-1707	1076	3	does	do	AUX
cblr-1707	1076	4	one	one	PRON
cblr-1707	1076	5	go	go	VERB
cblr-1707	1076	6	about	about	ADP
cblr-1707	1076	7	getting	get	VERB
cblr-1707	1076	8	a	a	DET
cblr-1707	1076	9	banking	banking	NOUN
cblr-1707	1076	10	license	license	NOUN
cblr-1707	1076	11	?	?	PUNCT
cblr-1707	1077	1	if	if	SCONJ
cblr-1707	1077	2	banking	banking	NOUN
cblr-1707	1077	3	licenses	license	NOUN
cblr-1707	1077	4	were	be	AUX
cblr-1707	1077	5	handed	hand	VERB
cblr-1707	1077	6	out	out	ADP
cblr-1707	1077	7	freely	freely	ADV
cblr-1707	1077	8	and	and	CCONJ
cblr-1707	1077	9	indiscriminately	indiscriminately	ADV
cblr-1707	1077	10	,	,	PUNCT
cblr-1707	1077	11	entry	entry	NOUN
cblr-1707	1077	12	restriction	restriction	NOUN
cblr-1707	1077	13	would	would	AUX
cblr-1707	1077	14	be	be	AUX
cblr-1707	1077	15	inconsequential	inconsequential	ADJ
cblr-1707	1077	16	.	.	PUNCT
cblr-1707	1078	1	the	the	DET
cblr-1707	1078	2	history	history	NOUN
cblr-1707	1078	3	of	of	ADP
cblr-1707	1078	4	bank	bank	NOUN
cblr-1707	1078	5	chartering	chartering	NOUN
cblr-1707	1078	6	standards	standard	NOUN
cblr-1707	1078	7	in	in	ADP
cblr-1707	1078	8	the	the	DET
cblr-1707	1078	9	united	united	PROPN
cblr-1707	1078	10	states	states	PROPN
cblr-1707	1078	11	is	be	AUX
cblr-1707	1078	12	one	one	NUM
cblr-1707	1078	13	of	of	ADP
cblr-1707	1078	14	continual	continual	ADJ
cblr-1707	1078	15	vacillation	vacillation	NOUN
cblr-1707	1078	16	.	.	PUNCT
cblr-1707	1079	1	in	in	ADP
cblr-1707	1079	2	the	the	DET
cblr-1707	1079	3	early	early	ADJ
cblr-1707	1079	4	republic	republic	NOUN
cblr-1707	1079	5	,	,	PUNCT
cblr-1707	1079	6	state	state	NOUN
cblr-1707	1079	7	legislatures	legislature	NOUN
cblr-1707	1079	8	granted	grant	VERB
cblr-1707	1079	9	bank	bank	NOUN
cblr-1707	1079	10	charters	charter	NOUN
cblr-1707	1079	11	and	and	CCONJ
cblr-1707	1079	12	other	other	ADJ
cblr-1707	1079	13	corporate	corporate	ADJ
cblr-1707	1079	14	charters	charter	NOUN
cblr-1707	1079	15	on	on	ADP
cblr-1707	1079	16	an	an	DET
cblr-1707	1079	17	ad	ad	NOUN
cblr-1707	1079	18	hoc	hoc	X
cblr-1707	1079	19	basis	basis	NOUN
cblr-1707	1079	20	.	.	PUNCT
cblr-1707	1080	1	the	the	DET
cblr-1707	1080	2	process	process	NOUN
cblr-1707	1080	3	smacked	smack	VERB
cblr-1707	1080	4	of	of	ADP
cblr-1707	1080	5	cronyism	cronyism	NOUN
cblr-1707	1080	6	and	and	CCONJ
cblr-1707	1080	7	special	special	ADJ
cblr-1707	1080	8	privilege.182	privilege.182	NOUN
cblr-1707	1080	9	starting	start	VERB
cblr-1707	1080	10	in	in	ADP
cblr-1707	1080	11	the	the	DET
cblr-1707	1080	12	1810s	1810s	NUM
cblr-1707	1080	13	,	,	PUNCT
cblr-1707	1080	14	states	state	NOUN
cblr-1707	1080	15	began	begin	VERB
cblr-1707	1080	16	liberalizing	liberalize	VERB
cblr-1707	1080	17	their	their	PRON
cblr-1707	1080	18	corporation	corporation	NOUN
cblr-1707	1080	19	laws	law	NOUN
cblr-1707	1080	20	,	,	PUNCT
cblr-1707	1080	21	allowing	allow	VERB
cblr-1707	1080	22	all	all	DET
cblr-1707	1080	23	citizens	citizen	NOUN
cblr-1707	1080	24	equal	equal	ADJ
cblr-1707	1080	25	access	access	NOUN
cblr-1707	1080	26	to	to	ADP
cblr-1707	1080	27	the	the	DET
cblr-1707	1080	28	corporate	corporate	ADJ
cblr-1707	1080	29	form	form	NOUN
cblr-1707	1080	30	through	through	ADP
cblr-1707	1080	31	a	a	DET
cblr-1707	1080	32	routinized	routinized	ADJ
cblr-1707	1080	33	administrative	administrative	ADJ
cblr-1707	1080	34	process	process	NOUN
cblr-1707	1080	35	.	.	PUNCT
cblr-1707	1081	1	these	these	DET
cblr-1707	1081	2	“	"	PUNCT
cblr-1707	1081	3	general	general	ADJ
cblr-1707	1081	4	incorporation	incorporation	NOUN
cblr-1707	1081	5	”	"	PUNCT
cblr-1707	1081	6	statutes	statute	NOUN
cblr-1707	1081	7	did	do	AUX
cblr-1707	1081	8	not	not	PART
cblr-1707	1081	9	,	,	PUNCT
cblr-1707	1081	10	however	however	ADV
cblr-1707	1081	11	,	,	PUNCT
cblr-1707	1081	12	grant	grant	VERB
cblr-1707	1081	13	free	free	ADJ
cblr-1707	1081	14	access	access	NOUN
cblr-1707	1081	15	to	to	ADP
cblr-1707	1081	16	bank	bank	NOUN
cblr-1707	1081	17	charters	charter	NOUN
cblr-1707	1081	18	.	.	PUNCT
cblr-1707	1082	1	banking	banking	NOUN
cblr-1707	1082	2	was	be	AUX
cblr-1707	1082	3	perceived	perceive	VERB
cblr-1707	1082	4	as	as	ADP
cblr-1707	1082	5	a	a	DET
cblr-1707	1082	6	sensitive	sensitive	ADJ
cblr-1707	1082	7	activity	activity	NOUN
cblr-1707	1082	8	,	,	PUNCT
cblr-1707	1082	9	and	and	CCONJ
cblr-1707	1082	10	a	a	DET
cblr-1707	1082	11	special	special	ADJ
cblr-1707	1082	12	act	act	NOUN
cblr-1707	1082	13	by	by	ADP
cblr-1707	1082	14	the	the	DET
cblr-1707	1082	15	legislature	legislature	NOUN
cblr-1707	1082	16	remained	remain	VERB
cblr-1707	1082	17	the	the	DET
cblr-1707	1082	18	exclusive	exclusive	ADJ
cblr-1707	1082	19	route	route	NOUN
cblr-1707	1082	20	to	to	ADP
cblr-1707	1082	21	bank	bank	NOUN
cblr-1707	1082	22	chartering	chartering	NOUN
cblr-1707	1082	23	.	.	PUNCT
cblr-1707	1083	1	but	but	CCONJ
cblr-1707	1083	2	the	the	DET
cblr-1707	1083	3	same	same	ADJ
cblr-1707	1083	4	egalitarian	egalitarian	ADJ
cblr-1707	1083	5	sensibility	sensibility	NOUN
cblr-1707	1083	6	that	that	PRON
cblr-1707	1083	7	led	lead	VERB
cblr-1707	1083	8	to	to	ADP
cblr-1707	1083	9	general	general	ADJ
cblr-1707	1083	10	incorporation	incorporation	NOUN
cblr-1707	1083	11	statutes	statute	NOUN
cblr-1707	1083	12	would	would	AUX
cblr-1707	1083	13	soon	soon	ADV
cblr-1707	1083	14	take	take	VERB
cblr-1707	1083	15	aim	aim	NOUN
cblr-1707	1083	16	at	at	ADP
cblr-1707	1083	17	banking	banking	NOUN
cblr-1707	1083	18	.	.	PUNCT
cblr-1707	1084	1	starting	start	VERB
cblr-1707	1084	2	in	in	ADP
cblr-1707	1084	3	the	the	DET
cblr-1707	1084	4	late	late	ADJ
cblr-1707	1084	5	1830s	1830	NOUN
cblr-1707	1084	6	,	,	PUNCT
cblr-1707	1084	7	states	state	NOUN
cblr-1707	1084	8	began	begin	VERB
cblr-1707	1084	9	enacting	enact	VERB
cblr-1707	1084	10	so	so	ADV
cblr-1707	1084	11	-	-	PUNCT
cblr-1707	1084	12	called	call	VERB
cblr-1707	1084	13	181	181	NUM
cblr-1707	1084	14	see	see	NOUN
cblr-1707	1084	15	ricks	rick	NOUN
cblr-1707	1084	16	,	,	PUNCT
cblr-1707	1084	17	supra	supra	PROPN
cblr-1707	1084	18	note	note	PROPN
cblr-1707	1084	19	19	19	NUM
cblr-1707	1084	20	,	,	PUNCT
cblr-1707	1084	21	at	at	ADP
cblr-1707	1084	22	230–43	230–43	NUM
cblr-1707	1084	23	.	.	PROPN
cblr-1707	1085	1	182	182	NUM
cblr-1707	1085	2	see	see	VERB
cblr-1707	1085	3	william	william	PROPN
cblr-1707	1085	4	t.	t.	PROPN
cblr-1707	1085	5	allen	allen	PROPN
cblr-1707	1085	6	&	&	CCONJ
cblr-1707	1085	7	reinier	reinier	PROPN
cblr-1707	1085	8	kraakman	kraakman	PROPN
cblr-1707	1085	9	,	,	PUNCT
cblr-1707	1085	10	commentaries	commentary	NOUN
cblr-1707	1085	11	and	and	CCONJ
cblr-1707	1085	12	cases	case	NOUN
cblr-1707	1085	13	on	on	ADP
cblr-1707	1085	14	the	the	DET
cblr-1707	1085	15	law	law	NOUN
cblr-1707	1085	16	of	of	ADP
cblr-1707	1085	17	business	business	NOUN
cblr-1707	1085	18	organization	organization	NOUN
cblr-1707	1085	19	78–82	78–82	NUM
cblr-1707	1085	20	(	(	PUNCT
cblr-1707	1085	21	5th	5th	ADJ
cblr-1707	1085	22	ed	ed	NOUN
cblr-1707	1085	23	.	.	PROPN
cblr-1707	1085	24	2016	2016	NUM
cblr-1707	1085	25	)	)	PUNCT
cblr-1707	1085	26	(	(	PUNCT
cblr-1707	1085	27	describing	describe	VERB
cblr-1707	1085	28	a	a	DET
cblr-1707	1085	29	historical	historical	ADJ
cblr-1707	1085	30	trend	trend	NOUN
cblr-1707	1085	31	from	from	ADP
cblr-1707	1085	32	incorporation	incorporation	NOUN
cblr-1707	1085	33	through	through	ADP
cblr-1707	1085	34	special	special	ADJ
cblr-1707	1085	35	acts	act	NOUN
cblr-1707	1085	36	by	by	ADP
cblr-1707	1085	37	state	state	NOUN
cblr-1707	1085	38	legislatures	legislature	NOUN
cblr-1707	1085	39	toward	toward	ADP
cblr-1707	1085	40	general	general	ADJ
cblr-1707	1085	41	acts	act	NOUN
cblr-1707	1085	42	of	of	ADP
cblr-1707	1085	43	incorporation	incorporation	NOUN
cblr-1707	1085	44	)	)	PUNCT
cblr-1707	1085	45	.	.	PUNCT
cblr-1707	1086	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	1086	2	no	no	NOUN
cblr-1707	1086	3	.	.	PUNCT
cblr-1707	1087	1	3:757	3:757	NUM
cblr-1707	1087	2	]	]	X
cblr-1707	1087	3	money	money	NOUN
cblr-1707	1087	4	as	as	ADP
cblr-1707	1087	5	infrastructure	infrastructure	NOUN
cblr-1707	1087	6	817	817	NUM
cblr-1707	1087	7	“	"	PUNCT
cblr-1707	1087	8	free	free	ADJ
cblr-1707	1087	9	banking	banking	NOUN
cblr-1707	1087	10	”	"	PUNCT
cblr-1707	1087	11	statutes.183	statutes.183	NOUN
cblr-1707	1087	12	it	it	PRON
cblr-1707	1088	1	is	be	AUX
cblr-1707	1088	2	sometimes	sometimes	ADV
cblr-1707	1088	3	incorrectly	incorrectly	ADV
cblr-1707	1088	4	assumed	assume	VERB
cblr-1707	1088	5	that	that	SCONJ
cblr-1707	1088	6	“	"	PUNCT
cblr-1707	1088	7	free	free	ADJ
cblr-1707	1088	8	banking	banking	NOUN
cblr-1707	1088	9	”	"	PUNCT
cblr-1707	1088	10	meant	mean	VERB
cblr-1707	1088	11	no	no	DET
cblr-1707	1088	12	bank	bank	NOUN
cblr-1707	1088	13	regulation	regulation	NOUN
cblr-1707	1088	14	at	at	ADV
cblr-1707	1088	15	all	all	ADV
cblr-1707	1088	16	.	.	PUNCT
cblr-1707	1089	1	in	in	ADP
cblr-1707	1089	2	fact	fact	NOUN
cblr-1707	1089	3	,	,	PUNCT
cblr-1707	1089	4	free	free	ADJ
cblr-1707	1089	5	banking	banking	NOUN
cblr-1707	1089	6	statutes	statute	NOUN
cblr-1707	1089	7	imposed	impose	VERB
cblr-1707	1089	8	strict	strict	ADJ
cblr-1707	1089	9	limits	limit	NOUN
cblr-1707	1089	10	on	on	ADP
cblr-1707	1089	11	bank	bank	NOUN
cblr-1707	1089	12	activities	activity	NOUN
cblr-1707	1089	13	and	and	CCONJ
cblr-1707	1089	14	portfolios	portfolio	NOUN
cblr-1707	1089	15	.	.	PUNCT
cblr-1707	1090	1	“	"	PUNCT
cblr-1707	1090	2	free	free	ADJ
cblr-1707	1090	3	banking	banking	NOUN
cblr-1707	1090	4	”	"	PUNCT
cblr-1707	1090	5	meant	mean	VERB
cblr-1707	1090	6	free	free	ADJ
cblr-1707	1090	7	entry	entry	NOUN
cblr-1707	1090	8	into	into	ADP
cblr-1707	1090	9	banking	banking	NOUN
cblr-1707	1090	10	.	.	PUNCT
cblr-1707	1091	1	state	state	NOUN
cblr-1707	1091	2	officials	official	NOUN
cblr-1707	1091	3	would	would	AUX
cblr-1707	1091	4	grant	grant	VERB
cblr-1707	1091	5	a	a	DET
cblr-1707	1091	6	banking	banking	NOUN
cblr-1707	1091	7	charter	charter	NOUN
cblr-1707	1091	8	to	to	ADP
cblr-1707	1091	9	anyone	anyone	PRON
cblr-1707	1091	10	meeting	meet	VERB
cblr-1707	1091	11	the	the	DET
cblr-1707	1091	12	requisite	requisite	ADJ
cblr-1707	1091	13	statutory	statutory	ADJ
cblr-1707	1091	14	standards	standard	NOUN
cblr-1707	1091	15	.	.	PUNCT
cblr-1707	1092	1	the	the	DET
cblr-1707	1092	2	national	national	PROPN
cblr-1707	1092	3	bank	bank	PROPN
cblr-1707	1092	4	act	act	PROPN
cblr-1707	1092	5	,	,	PUNCT
cblr-1707	1092	6	enacted	enact	VERB
cblr-1707	1092	7	in	in	ADP
cblr-1707	1092	8	1863	1863	NUM
cblr-1707	1092	9	and	and	CCONJ
cblr-1707	1092	10	1864,184	1864,184	NUM
cblr-1707	1092	11	marked	mark	VERB
cblr-1707	1092	12	the	the	DET
cblr-1707	1092	13	beginning	beginning	NOUN
cblr-1707	1092	14	of	of	ADP
cblr-1707	1092	15	federal	federal	ADJ
cblr-1707	1092	16	bank	bank	NOUN
cblr-1707	1092	17	regulation	regulation	NOUN
cblr-1707	1092	18	in	in	ADP
cblr-1707	1092	19	the	the	DET
cblr-1707	1092	20	united	united	PROPN
cblr-1707	1092	21	states.185	states.185	PROPN
cblr-1707	1092	22	patterned	pattern	VERB
cblr-1707	1092	23	after	after	ADP
cblr-1707	1092	24	the	the	DET
cblr-1707	1092	25	free	free	ADJ
cblr-1707	1092	26	banking	banking	NOUN
cblr-1707	1092	27	statutes	statute	NOUN
cblr-1707	1092	28	,	,	PUNCT
cblr-1707	1092	29	the	the	DET
cblr-1707	1092	30	national	national	PROPN
cblr-1707	1092	31	bank	bank	PROPN
cblr-1707	1092	32	act	act	NOUN
cblr-1707	1092	33	on	on	ADP
cblr-1707	1092	34	its	its	PRON
cblr-1707	1092	35	face	face	NOUN
cblr-1707	1092	36	accorded	accord	VERB
cblr-1707	1092	37	the	the	DET
cblr-1707	1092	38	comptroller	comptroller	NOUN
cblr-1707	1092	39	no	no	DET
cblr-1707	1092	40	discretion	discretion	NOUN
cblr-1707	1092	41	in	in	ADP
cblr-1707	1092	42	granting	grant	VERB
cblr-1707	1092	43	national	national	ADJ
cblr-1707	1092	44	bank	bank	PROPN
cblr-1707	1092	45	charters	charter	NOUN
cblr-1707	1092	46	.	.	PUNCT
cblr-1707	1093	1	it	it	PRON
cblr-1707	1093	2	said	say	VERB
cblr-1707	1093	3	simply	simply	ADV
cblr-1707	1093	4	that	that	SCONJ
cblr-1707	1093	5	the	the	DET
cblr-1707	1093	6	comptroller	comptroller	NOUN
cblr-1707	1093	7	“	"	PUNCT
cblr-1707	1093	8	shall	shall	AUX
cblr-1707	1093	9	give	give	VERB
cblr-1707	1093	10	”	"	PUNCT
cblr-1707	1093	11	a	a	DET
cblr-1707	1093	12	charter	charter	NOUN
cblr-1707	1093	13	to	to	PART
cblr-1707	1093	14	qualified	qualified	ADJ
cblr-1707	1093	15	applicants.186	applicants.186	VERB
cblr-1707	1093	16	nonetheless	nonetheless	ADV
cblr-1707	1093	17	,	,	PUNCT
cblr-1707	1093	18	the	the	DET
cblr-1707	1093	19	earliest	early	ADJ
cblr-1707	1093	20	comptrollers	comptroller	NOUN
cblr-1707	1093	21	exercised	exercise	VERB
cblr-1707	1093	22	discretion	discretion	NOUN
cblr-1707	1093	23	.	.	PUNCT
cblr-1707	1094	1	they	they	PRON
cblr-1707	1094	2	reviewed	review	VERB
cblr-1707	1094	3	information	information	NOUN
cblr-1707	1094	4	on	on	ADP
cblr-1707	1094	5	economic	economic	ADJ
cblr-1707	1094	6	conditions	condition	NOUN
cblr-1707	1094	7	and	and	CCONJ
cblr-1707	1094	8	existing	exist	VERB
cblr-1707	1094	9	banks	bank	NOUN
cblr-1707	1094	10	in	in	ADP
cblr-1707	1094	11	the	the	DET
cblr-1707	1094	12	locality	locality	NOUN
cblr-1707	1094	13	when	when	SCONJ
cblr-1707	1094	14	passing	pass	VERB
cblr-1707	1094	15	on	on	ADP
cblr-1707	1094	16	bank	bank	NOUN
cblr-1707	1094	17	charter	charter	NOUN
cblr-1707	1094	18	applications.187	applications.187	NOUN
cblr-1707	1094	19	this	this	DET
cblr-1707	1094	20	policy	policy	NOUN
cblr-1707	1094	21	was	be	AUX
cblr-1707	1094	22	reversed	reverse	VERB
cblr-1707	1094	23	in	in	ADP
cblr-1707	1094	24	the	the	DET
cblr-1707	1094	25	1870s	1870	NOUN
cblr-1707	1094	26	under	under	ADP
cblr-1707	1094	27	the	the	DET
cblr-1707	1094	28	comptrollership	comptrollership	NOUN
cblr-1707	1094	29	of	of	ADP
cblr-1707	1094	30	john	john	PROPN
cblr-1707	1094	31	knox	knox	PROPN
cblr-1707	1094	32	,	,	PUNCT
cblr-1707	1094	33	who	who	PRON
cblr-1707	1094	34	did	do	AUX
cblr-1707	1094	35	not	not	PART
cblr-1707	1094	36	believe	believe	VERB
cblr-1707	1094	37	he	he	PRON
cblr-1707	1094	38	had	have	VERB
cblr-1707	1094	39	discretionary	discretionary	ADJ
cblr-1707	1094	40	power	power	NOUN
cblr-1707	1094	41	under	under	ADP
cblr-1707	1094	42	the	the	DET
cblr-1707	1094	43	act.188	act.188	NOUN
cblr-1707	1094	44	after	after	ADP
cblr-1707	1094	45	the	the	DET
cblr-1707	1094	46	panic	panic	NOUN
cblr-1707	1094	47	of	of	ADP
cblr-1707	1094	48	1907	1907	NUM
cblr-1707	1094	49	,	,	PUNCT
cblr-1707	1094	50	however	however	ADV
cblr-1707	1094	51	,	,	PUNCT
cblr-1707	1094	52	the	the	DET
cblr-1707	1094	53	comptroller	comptroller	NOUN
cblr-1707	1094	54	’s	’s	PART
cblr-1707	1094	55	office	office	NOUN
cblr-1707	1094	56	waffled	waffle	VERB
cblr-1707	1094	57	back	back	ADV
cblr-1707	1094	58	to	to	ADP
cblr-1707	1094	59	discretion	discretion	NOUN
cblr-1707	1094	60	,	,	PUNCT
cblr-1707	1094	61	owing	owe	VERB
cblr-1707	1094	62	to	to	ADP
cblr-1707	1094	63	concerns	concern	NOUN
cblr-1707	1094	64	about	about	ADP
cblr-1707	1094	65	“	"	PUNCT
cblr-1707	1094	66	over	over	ADP
cblr-1707	1094	67	-	-	PUNCT
cblr-1707	1094	68	banking	banking	NOUN
cblr-1707	1094	69	.	.	PUNCT
cblr-1707	1094	70	”189	”189	PUNCT
cblr-1707	1094	71	discretionary	discretionary	ADJ
cblr-1707	1094	72	national	national	PROPN
cblr-1707	1094	73	bank	bank	PROPN
cblr-1707	1094	74	chartering	chartering	NOUN
cblr-1707	1094	75	received	receive	VERB
cblr-1707	1094	76	a	a	DET
cblr-1707	1094	77	somewhat	somewhat	ADV
cblr-1707	1094	78	firmer	firm	ADJ
cblr-1707	1094	79	statutory	statutory	ADJ
cblr-1707	1094	80	foundation	foundation	NOUN
cblr-1707	1094	81	with	with	ADP
cblr-1707	1094	82	the	the	DET
cblr-1707	1094	83	banking	banking	NOUN
cblr-1707	1094	84	act	act	NOUN
cblr-1707	1094	85	of	of	ADP
cblr-1707	1094	86	1935,190	1935,190	NUM
cblr-1707	1094	87	enacted	enact	VERB
cblr-1707	1094	88	after	after	ADP
cblr-1707	1094	89	waves	wave	NOUN
cblr-1707	1094	90	of	of	ADP
cblr-1707	1094	91	bank	bank	NOUN
cblr-1707	1094	92	panics	panic	NOUN
cblr-1707	1094	93	had	have	AUX
cblr-1707	1094	94	amplified	amplify	VERB
cblr-1707	1094	95	the	the	DET
cblr-1707	1094	96	great	great	ADJ
cblr-1707	1094	97	depression	depression	NOUN
cblr-1707	1094	98	.	.	PUNCT
cblr-1707	1095	1	the	the	DET
cblr-1707	1095	2	1935	1935	NUM
cblr-1707	1095	3	act	act	NOUN
cblr-1707	1095	4	required	require	VERB
cblr-1707	1095	5	the	the	DET
cblr-1707	1095	6	office	office	NOUN
cblr-1707	1095	7	of	of	ADP
cblr-1707	1095	8	the	the	DET
cblr-1707	1095	9	comptroller	comptroller	NOUN
cblr-1707	1095	10	of	of	ADP
cblr-1707	1095	11	the	the	DET
cblr-1707	1095	12	currency	currency	NOUN
cblr-1707	1095	13	(	(	PUNCT
cblr-1707	1095	14	“	"	PUNCT
cblr-1707	1095	15	occ	occ	X
cblr-1707	1095	16	”	"	PUNCT
cblr-1707	1095	17	)	)	PUNCT
cblr-1707	1095	18	to	to	PART
cblr-1707	1095	19	certify	certify	VERB
cblr-1707	1095	20	that	that	SCONJ
cblr-1707	1095	21	,	,	PUNCT
cblr-1707	1095	22	in	in	ADP
cblr-1707	1095	23	183	183	NUM
cblr-1707	1095	24	see	see	NOUN
cblr-1707	1095	25	,	,	PUNCT
cblr-1707	1095	26	e.g.	e.g.	ADV
cblr-1707	1095	27	,	,	PUNCT
cblr-1707	1095	28	act	act	NOUN
cblr-1707	1095	29	of	of	ADP
cblr-1707	1095	30	apr	apr	PROPN
cblr-1707	1095	31	.	.	PROPN
cblr-1707	1095	32	18	18	NUM
cblr-1707	1095	33	,	,	PUNCT
cblr-1707	1095	34	1838	1838	NUM
cblr-1707	1095	35	,	,	PUNCT
cblr-1707	1095	36	ch	ch	NOUN
cblr-1707	1095	37	.	.	PROPN
cblr-1707	1095	38	260	260	NUM
cblr-1707	1095	39	,	,	PUNCT
cblr-1707	1095	40	1838	1838	NUM
cblr-1707	1095	41	n.y	n.y	PROPN
cblr-1707	1095	42	.	.	PROPN
cblr-1707	1095	43	laws	law	NOUN
cblr-1707	1095	44	245–46	245–46	NUM
cblr-1707	1095	45	(	(	PUNCT
cblr-1707	1095	46	authorizing	authorize	VERB
cblr-1707	1095	47	the	the	DET
cblr-1707	1095	48	business	business	NOUN
cblr-1707	1095	49	of	of	ADP
cblr-1707	1095	50	banking	banking	NOUN
cblr-1707	1095	51	)	)	PUNCT
cblr-1707	1095	52	.	.	PUNCT
cblr-1707	1096	1	the	the	DET
cblr-1707	1096	2	political	political	ADJ
cblr-1707	1096	3	history	history	NOUN
cblr-1707	1096	4	of	of	ADP
cblr-1707	1096	5	this	this	DET
cblr-1707	1096	6	act	act	NOUN
cblr-1707	1096	7	is	be	AUX
cblr-1707	1096	8	discussed	discuss	VERB
cblr-1707	1096	9	in	in	ADP
cblr-1707	1096	10	bray	bray	PROPN
cblr-1707	1096	11	hammond	hammond	PROPN
cblr-1707	1096	12	,	,	PUNCT
cblr-1707	1096	13	free	free	ADJ
cblr-1707	1096	14	banks	bank	NOUN
cblr-1707	1096	15	and	and	CCONJ
cblr-1707	1096	16	corporations	corporation	NOUN
cblr-1707	1096	17	:	:	PUNCT
cblr-1707	1096	18	the	the	DET
cblr-1707	1096	19	new	new	PROPN
cblr-1707	1096	20	york	york	PROPN
cblr-1707	1096	21	free	free	PROPN
cblr-1707	1096	22	banking	banking	PROPN
cblr-1707	1096	23	act	act	NOUN
cblr-1707	1096	24	of	of	ADP
cblr-1707	1096	25	1838	1838	NUM
cblr-1707	1096	26	,	,	PUNCT
cblr-1707	1096	27	44	44	NUM
cblr-1707	1096	28	j.	j.	PROPN
cblr-1707	1096	29	pol	pol	PROPN
cblr-1707	1096	30	.	.	PUNCT
cblr-1707	1096	31	econ	econ	PROPN
cblr-1707	1096	32	.	.	PUNCT
cblr-1707	1097	1	184	184	NUM
cblr-1707	1097	2	(	(	PUNCT
cblr-1707	1097	3	1936	1936	NUM
cblr-1707	1097	4	)	)	PUNCT
cblr-1707	1097	5	.	.	PUNCT
cblr-1707	1098	1	184	184	NUM
cblr-1707	1098	2	see	see	VERB
cblr-1707	1098	3	supra	supra	PROPN
cblr-1707	1098	4	notes	note	VERB
cblr-1707	1098	5	171–172	171–172	NUM
cblr-1707	1098	6	and	and	CCONJ
cblr-1707	1098	7	accompanying	accompany	VERB
cblr-1707	1098	8	text	text	NOUN
cblr-1707	1098	9	.	.	PUNCT
cblr-1707	1099	1	185	185	NUM
cblr-1707	1099	2	i	i	PRON
cblr-1707	1099	3	am	be	AUX
cblr-1707	1099	4	disregarding	disregard	VERB
cblr-1707	1099	5	the	the	DET
cblr-1707	1099	6	ill	ill	ADV
cblr-1707	1099	7	-	-	PUNCT
cblr-1707	1099	8	fated	fate	VERB
cblr-1707	1099	9	first	first	ADJ
cblr-1707	1099	10	and	and	CCONJ
cblr-1707	1099	11	second	second	ADJ
cblr-1707	1099	12	banks	bank	NOUN
cblr-1707	1099	13	of	of	ADP
cblr-1707	1099	14	the	the	DET
cblr-1707	1099	15	united	united	PROPN
cblr-1707	1099	16	states	states	PROPN
cblr-1707	1099	17	,	,	PUNCT
cblr-1707	1099	18	which	which	PRON
cblr-1707	1099	19	were	be	AUX
cblr-1707	1099	20	not	not	PART
cblr-1707	1099	21	designed	design	VERB
cblr-1707	1099	22	to	to	PART
cblr-1707	1099	23	implement	implement	VERB
cblr-1707	1099	24	broad	broad	ADV
cblr-1707	1099	25	-	-	PUNCT
cblr-1707	1099	26	based	base	VERB
cblr-1707	1099	27	banking	banking	NOUN
cblr-1707	1099	28	regulation	regulation	NOUN
cblr-1707	1099	29	(	(	PUNCT
cblr-1707	1099	30	though	though	SCONJ
cblr-1707	1099	31	they	they	PRON
cblr-1707	1099	32	did	do	AUX
cblr-1707	1099	33	end	end	VERB
cblr-1707	1099	34	up	up	ADP
cblr-1707	1099	35	playing	play	VERB
cblr-1707	1099	36	a	a	DET
cblr-1707	1099	37	quasi	quasi	ADJ
cblr-1707	1099	38	-	-	ADJ
cblr-1707	1099	39	regulatory	regulatory	ADJ
cblr-1707	1099	40	role	role	NOUN
cblr-1707	1099	41	)	)	PUNCT
cblr-1707	1099	42	.	.	PUNCT
cblr-1707	1100	1	186	186	NUM
cblr-1707	1100	2	national	national	PROPN
cblr-1707	1100	3	bank	bank	PROPN
cblr-1707	1100	4	act	act	NOUN
cblr-1707	1100	5	of	of	ADP
cblr-1707	1100	6	1864	1864	NUM
cblr-1707	1100	7	,	,	PUNCT
cblr-1707	1100	8	ch	ch	NOUN
cblr-1707	1100	9	.	.	PROPN
cblr-1707	1100	10	106	106	NUM
cblr-1707	1100	11	,	,	PUNCT
cblr-1707	1100	12	§	§	PROPN
cblr-1707	1100	13	18	18	NUM
cblr-1707	1100	14	,	,	PUNCT
cblr-1707	1100	15	13	13	NUM
cblr-1707	1100	16	stat	stat	NOUN
cblr-1707	1100	17	.	.	PUNCT
cblr-1707	1101	1	99	99	NUM
cblr-1707	1101	2	,	,	PUNCT
cblr-1707	1101	3	104–05	104–05	NUM
cblr-1707	1101	4	(	(	PUNCT
cblr-1707	1101	5	1864	1864	NUM
cblr-1707	1101	6	)	)	PUNCT
cblr-1707	1101	7	.	.	PUNCT
cblr-1707	1102	1	187	187	NUM
cblr-1707	1102	2	michael	michael	PROPN
cblr-1707	1102	3	s.	s.	PROPN
cblr-1707	1102	4	barr	barr	PROPN
cblr-1707	1102	5	,	,	PUNCT
cblr-1707	1102	6	howell	howell	PROPN
cblr-1707	1102	7	e.	e.	PROPN
cblr-1707	1102	8	jackson	jackson	PROPN
cblr-1707	1102	9	&	&	CCONJ
cblr-1707	1102	10	margaret	margaret	PROPN
cblr-1707	1102	11	e.	e.	PROPN
cblr-1707	1102	12	tahyar	tahyar	PROPN
cblr-1707	1102	13	,	,	PUNCT
cblr-1707	1102	14	financial	financial	ADJ
cblr-1707	1102	15	regulation	regulation	NOUN
cblr-1707	1102	16	:	:	PUNCT
cblr-1707	1102	17	law	law	NOUN
cblr-1707	1102	18	and	and	CCONJ
cblr-1707	1102	19	policy	policy	NOUN
cblr-1707	1102	20	162	162	NUM
cblr-1707	1102	21	(	(	PUNCT
cblr-1707	1102	22	2016	2016	NUM
cblr-1707	1102	23	)	)	PUNCT
cblr-1707	1102	24	.	.	PUNCT
cblr-1707	1103	1	188	188	NUM
cblr-1707	1103	2	i	i	PROPN
cblr-1707	1103	3	d.	d.	PROPN
cblr-1707	1103	4	189	189	NUM
cblr-1707	1103	5	i	i	PRON
cblr-1707	1103	6	d.	d.	PROPN
cblr-1707	1103	7	at	at	ADP
cblr-1707	1103	8	163	163	NUM
cblr-1707	1103	9	.	.	PUNCT
cblr-1707	1103	10	190	190	NUM
cblr-1707	1103	11	see	see	VERB
cblr-1707	1103	12	bank	bank	PROPN
cblr-1707	1103	13	act	act	NOUN
cblr-1707	1103	14	of	of	ADP
cblr-1707	1103	15	1935	1935	NUM
cblr-1707	1103	16	,	,	PUNCT
cblr-1707	1103	17	pub	pub	NOUN
cblr-1707	1103	18	.	.	PUNCT
cblr-1707	1104	1	l.	l.	PROPN
cblr-1707	1104	2	no	no	INTJ
cblr-1707	1104	3	.	.	PROPN
cblr-1707	1105	1	74	74	NUM
cblr-1707	1105	2	-	-	SYM
cblr-1707	1105	3	305	305	NUM
cblr-1707	1105	4	,	,	PUNCT
cblr-1707	1105	5	49	49	NUM
cblr-1707	1105	6	stat	stat	NOUN
cblr-1707	1105	7	.	.	PUNCT
cblr-1707	1106	1	684	684	NUM
cblr-1707	1106	2	.	.	PUNCT
cblr-1707	1107	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	1107	2	818	818	NUM
cblr-1707	1107	3	columbia	columbia	PROPN
cblr-1707	1107	4	business	business	NOUN
cblr-1707	1107	5	law	law	PROPN
cblr-1707	1107	6	review	review	NOUN
cblr-1707	1107	7	[	[	X
cblr-1707	1107	8	vol	vol	NOUN
cblr-1707	1107	9	.	.	PUNCT
cblr-1707	1107	10	2018	2018	NUM
cblr-1707	1107	11	chartering	charter	VERB
cblr-1707	1107	12	a	a	DET
cblr-1707	1107	13	new	new	ADJ
cblr-1707	1107	14	bank	bank	NOUN
cblr-1707	1107	15	,	,	PUNCT
cblr-1707	1107	16	“	"	PUNCT
cblr-1707	1107	17	consideration	consideration	NOUN
cblr-1707	1107	18	ha[d	ha[d	NOUN
cblr-1707	1107	19	]	]	PUNCT
cblr-1707	1107	20	been	be	AUX
cblr-1707	1107	21	given	give	VERB
cblr-1707	1107	22	”	"	PUNCT
cblr-1707	1107	23	to	to	ADP
cblr-1707	1107	24	the	the	DET
cblr-1707	1107	25	factors	factor	NOUN
cblr-1707	1107	26	that	that	PRON
cblr-1707	1107	27	the	the	DET
cblr-1707	1107	28	fdic	fdic	PROPN
cblr-1707	1107	29	was	be	AUX
cblr-1707	1107	30	required	require	VERB
cblr-1707	1107	31	to	to	PART
cblr-1707	1107	32	consider	consider	VERB
cblr-1707	1107	33	when	when	SCONJ
cblr-1707	1107	34	evaluating	evaluate	VERB
cblr-1707	1107	35	deposit	deposit	NOUN
cblr-1707	1107	36	insurance	insurance	NOUN
cblr-1707	1107	37	applications.191	applications.191	NOUN
cblr-1707	1107	38	by	by	ADP
cblr-1707	1107	39	far	far	ADV
cblr-1707	1107	40	the	the	DET
cblr-1707	1107	41	most	most	ADV
cblr-1707	1107	42	important	important	ADJ
cblr-1707	1107	43	factor	factor	NOUN
cblr-1707	1107	44	was	be	AUX
cblr-1707	1107	45	the	the	DET
cblr-1707	1107	46	“	"	PUNCT
cblr-1707	1107	47	convenience	convenience	NOUN
cblr-1707	1107	48	and	and	CCONJ
cblr-1707	1107	49	needs	need	NOUN
cblr-1707	1107	50	of	of	ADP
cblr-1707	1107	51	the	the	DET
cblr-1707	1107	52	community	community	NOUN
cblr-1707	1107	53	to	to	PART
cblr-1707	1107	54	be	be	AUX
cblr-1707	1107	55	served	serve	VERB
cblr-1707	1107	56	by	by	ADP
cblr-1707	1107	57	the	the	DET
cblr-1707	1107	58	bank	bank	NOUN
cblr-1707	1107	59	.	.	PUNCT
cblr-1707	1108	1	”192	”192	PUNCT
cblr-1707	1109	1	a	a	DET
cblr-1707	1109	2	decade	decade	NOUN
cblr-1707	1109	3	later	later	ADV
cblr-1707	1109	4	,	,	PUNCT
cblr-1707	1109	5	when	when	SCONJ
cblr-1707	1109	6	the	the	DET
cblr-1707	1109	7	occ	occ	NOUN
cblr-1707	1109	8	formalized	formalize	VERB
cblr-1707	1109	9	its	its	PRON
cblr-1707	1109	10	chartering	chartering	NOUN
cblr-1707	1109	11	standards	standard	NOUN
cblr-1707	1109	12	by	by	ADP
cblr-1707	1109	13	rulemaking	rulemaking	NOUN
cblr-1707	1109	14	,	,	PUNCT
cblr-1707	1109	15	it	it	PRON
cblr-1707	1109	16	adopted	adopt	VERB
cblr-1707	1109	17	the	the	DET
cblr-1707	1109	18	six	six	NUM
cblr-1707	1109	19	statutory	statutory	ADJ
cblr-1707	1109	20	factors	factor	NOUN
cblr-1707	1109	21	as	as	ADP
cblr-1707	1109	22	a	a	DET
cblr-1707	1109	23	basis	basis	NOUN
cblr-1707	1109	24	for	for	ADP
cblr-1707	1109	25	passing	pass	VERB
cblr-1707	1109	26	on	on	ADP
cblr-1707	1109	27	charter	charter	NOUN
cblr-1707	1109	28	applications.193	applications.193	CCONJ
cblr-1707	1109	29	in	in	ADP
cblr-1707	1109	30	adopting	adopt	VERB
cblr-1707	1109	31	the	the	DET
cblr-1707	1109	32	“	"	PUNCT
cblr-1707	1109	33	convenience	convenience	NOUN
cblr-1707	1109	34	and	and	CCONJ
cblr-1707	1109	35	needs	need	NOUN
cblr-1707	1109	36	”	"	PUNCT
cblr-1707	1109	37	factor	factor	NOUN
cblr-1707	1109	38	for	for	ADP
cblr-1707	1109	39	national	national	PROPN
cblr-1707	1109	40	bank	bank	PROPN
cblr-1707	1109	41	chartering	chartering	NOUN
cblr-1707	1109	42	,	,	PUNCT
cblr-1707	1109	43	congress	congress	PROPN
cblr-1707	1109	44	and	and	CCONJ
cblr-1707	1109	45	the	the	DET
cblr-1707	1109	46	occ	occ	NOUN
cblr-1707	1109	47	took	take	VERB
cblr-1707	1109	48	a	a	DET
cblr-1707	1109	49	page	page	NOUN
cblr-1707	1109	50	from	from	ADP
cblr-1707	1109	51	infrastructure	infrastructure	NOUN
cblr-1707	1109	52	regulation	regulation	NOUN
cblr-1707	1109	53	.	.	PUNCT
cblr-1707	1110	1	half	half	DET
cblr-1707	1110	2	a	a	DET
cblr-1707	1110	3	century	century	NOUN
cblr-1707	1110	4	earlier	early	ADV
cblr-1707	1110	5	,	,	PUNCT
cblr-1707	1110	6	states	state	NOUN
cblr-1707	1110	7	had	have	AUX
cblr-1707	1110	8	begun	begin	VERB
cblr-1707	1110	9	requiring	require	VERB
cblr-1707	1110	10	prospective	prospective	ADJ
cblr-1707	1110	11	infrastructure	infrastructure	NOUN
cblr-1707	1110	12	providers	provider	NOUN
cblr-1707	1110	13	to	to	PART
cblr-1707	1110	14	obtain	obtain	VERB
cblr-1707	1110	15	certificates	certificate	NOUN
cblr-1707	1110	16	of	of	ADP
cblr-1707	1110	17	“	"	PUNCT
cblr-1707	1110	18	public	public	ADJ
cblr-1707	1110	19	convenience	convenience	NOUN
cblr-1707	1110	20	and	and	CCONJ
cblr-1707	1110	21	necessity	necessity	NOUN
cblr-1707	1110	22	”	"	PUNCT
cblr-1707	1110	23	(	(	PUNCT
cblr-1707	1110	24	“	"	PUNCT
cblr-1707	1110	25	pcn	pcn	PROPN
cblr-1707	1110	26	”	"	PUNCT
cblr-1707	1110	27	certificates	certificate	NOUN
cblr-1707	1110	28	)	)	PUNCT
cblr-1707	1110	29	before	before	ADP
cblr-1707	1110	30	commencing	commence	VERB
cblr-1707	1110	31	service.194	service.194	NOUN
cblr-1707	1110	32	as	as	SCONJ
cblr-1707	1110	33	some	some	DET
cblr-1707	1110	34	analysts	analyst	NOUN
cblr-1707	1110	35	have	have	AUX
cblr-1707	1110	36	pointed	point	VERB
cblr-1707	1110	37	out	out	ADP
cblr-1707	1110	38	,	,	PUNCT
cblr-1707	1110	39	the	the	DET
cblr-1707	1110	40	term	term	NOUN
cblr-1707	1110	41	“	"	PUNCT
cblr-1707	1110	42	licensing	licensing	NOUN
cblr-1707	1110	43	”	"	PUNCT
cblr-1707	1110	44	is	be	AUX
cblr-1707	1110	45	too	too	ADV
cblr-1707	1110	46	generic	generic	ADJ
cblr-1707	1110	47	to	to	PART
cblr-1707	1110	48	capture	capture	VERB
cblr-1707	1110	49	this	this	DET
cblr-1707	1110	50	regulatory	regulatory	ADJ
cblr-1707	1110	51	allocation	allocation	NOUN
cblr-1707	1110	52	function.195	function.195	SCONJ
cblr-1707	1110	53	licensing	licensing	NOUN
cblr-1707	1110	54	systems	system	NOUN
cblr-1707	1110	55	typically	typically	ADV
cblr-1707	1110	56	admit	admit	VERB
cblr-1707	1110	57	all	all	DET
cblr-1707	1110	58	applicants	applicant	NOUN
cblr-1707	1110	59	that	that	PRON
cblr-1707	1110	60	meet	meet	VERB
cblr-1707	1110	61	the	the	DET
cblr-1707	1110	62	requisite	requisite	ADJ
cblr-1707	1110	63	standards	standard	NOUN
cblr-1707	1110	64	;	;	PUNCT
cblr-1707	1110	65	such	such	ADJ
cblr-1707	1110	66	systems	system	NOUN
cblr-1707	1110	67	may	may	AUX
cblr-1707	1110	68	be	be	AUX
cblr-1707	1110	69	used	use	VERB
cblr-1707	1110	70	to	to	PART
cblr-1707	1110	71	weed	weed	VERB
cblr-1707	1110	72	out	out	ADP
cblr-1707	1110	73	unfit	unfit	ADJ
cblr-1707	1110	74	providers	provider	NOUN
cblr-1707	1110	75	,	,	PUNCT
cblr-1707	1110	76	for	for	ADP
cblr-1707	1110	77	example	example	NOUN
cblr-1707	1110	78	.	.	PUNCT
cblr-1707	1111	1	the	the	DET
cblr-1707	1111	2	pcn	pcn	PROPN
cblr-1707	1111	3	certificate	certificate	NOUN
cblr-1707	1111	4	is	be	AUX
cblr-1707	1111	5	different	different	ADJ
cblr-1707	1111	6	,	,	PUNCT
cblr-1707	1111	7	in	in	SCONJ
cblr-1707	1111	8	that	that	DET
cblr-1707	1111	9	otherwise	otherwise	ADV
cblr-1707	1111	10	qualified	qualified	ADJ
cblr-1707	1111	11	applicants	applicant	NOUN
cblr-1707	1111	12	may	may	AUX
cblr-1707	1111	13	be	be	AUX
cblr-1707	1111	14	excluded	exclude	VERB
cblr-1707	1111	15	because	because	SCONJ
cblr-1707	1111	16	the	the	DET
cblr-1707	1111	17	agency	agency	NOUN
cblr-1707	1111	18	feels	feel	VERB
cblr-1707	1111	19	additional	additional	ADJ
cblr-1707	1111	20	providers	provider	NOUN
cblr-1707	1111	21	are	be	AUX
cblr-1707	1111	22	unnecessary.196	unnecessary.196	ADJ
cblr-1707	1111	23	this	this	PRON
cblr-1707	1111	24	is	be	AUX
cblr-1707	1111	25	the	the	DET
cblr-1707	1111	26	nature	nature	NOUN
cblr-1707	1111	27	of	of	ADP
cblr-1707	1111	28	procurement	procurement	NOUN
cblr-1707	1111	29	.	.	PUNCT
cblr-1707	1112	1	by	by	ADP
cblr-1707	1112	2	1910	1910	NUM
cblr-1707	1112	3	,	,	PUNCT
cblr-1707	1112	4	railroads	railroad	NOUN
cblr-1707	1112	5	,	,	PUNCT
cblr-1707	1112	6	telegraph	telegraph	VERB
cblr-1707	1112	7	191	191	NUM
cblr-1707	1112	8	i	i	PRON
cblr-1707	1112	9	d.	d.	PROPN
cblr-1707	1112	10	at	at	ADP
cblr-1707	1112	11	687	687	NUM
cblr-1707	1112	12	.	.	PUNCT
cblr-1707	1113	1	192	192	NUM
cblr-1707	1114	1	i	i	PRON
cblr-1707	1114	2	d.	d.	NOUN
cblr-1707	1114	3	at	at	ADP
cblr-1707	1114	4	688	688	NUM
cblr-1707	1114	5	.	.	PUNCT
cblr-1707	1115	1	193	193	NUM
cblr-1707	1115	2	organization	organization	NOUN
cblr-1707	1115	3	of	of	ADP
cblr-1707	1115	4	bureau	bureau	NOUN
cblr-1707	1115	5	of	of	ADP
cblr-1707	1115	6	the	the	DET
cblr-1707	1115	7	comptroller	comptroller	NOUN
cblr-1707	1115	8	of	of	ADP
cblr-1707	1115	9	the	the	DET
cblr-1707	1115	10	currency	currency	NOUN
cblr-1707	1115	11	,	,	PUNCT
cblr-1707	1115	12	11	11	NUM
cblr-1707	1115	13	fed	feed	VERB
cblr-1707	1115	14	.	.	PUNCT
cblr-1707	1116	1	reg	reg	PROPN
cblr-1707	1116	2	.	.	PUNCT
cblr-1707	1117	1	177a-13	177a-13	NUM
cblr-1707	1117	2	,	,	PUNCT
cblr-1707	1117	3	177a-14	177a-14	NUM
cblr-1707	1117	4	(	(	PUNCT
cblr-1707	1117	5	sept	sept	PROPN
cblr-1707	1117	6	.	.	PROPN
cblr-1707	1117	7	11	11	NUM
cblr-1707	1117	8	,	,	PUNCT
cblr-1707	1117	9	1946	1946	NUM
cblr-1707	1117	10	)	)	PUNCT
cblr-1707	1117	11	(	(	PUNCT
cblr-1707	1117	12	to	to	PART
cblr-1707	1117	13	be	be	AUX
cblr-1707	1117	14	codified	codify	VERB
cblr-1707	1117	15	at	at	ADP
cblr-1707	1117	16	12	12	NUM
cblr-1707	1117	17	c.f.r	c.f.r	NOUN
cblr-1707	1117	18	.	.	PUNCT
cblr-1707	1118	1	ch	ch	NOUN
cblr-1707	1118	2	.	.	PROPN
cblr-1707	1118	3	1	1	NUM
cblr-1707	1118	4	)	)	PUNCT
cblr-1707	1118	5	.	.	PUNCT
cblr-1707	1119	1	subsequent	subsequent	ADJ
cblr-1707	1119	2	case	case	NOUN
cblr-1707	1119	3	law	law	NOUN
cblr-1707	1119	4	confirmed	confirm	VERB
cblr-1707	1119	5	the	the	DET
cblr-1707	1119	6	occ	occ	NOUN
cblr-1707	1119	7	’s	’s	PART
cblr-1707	1119	8	broad	broad	ADJ
cblr-1707	1119	9	discretion	discretion	NOUN
cblr-1707	1119	10	to	to	PART
cblr-1707	1119	11	reject	reject	VERB
cblr-1707	1119	12	charter	charter	NOUN
cblr-1707	1119	13	applications	application	NOUN
cblr-1707	1119	14	based	base	VERB
cblr-1707	1119	15	on	on	ADP
cblr-1707	1119	16	the	the	DET
cblr-1707	1119	17	six	six	NUM
cblr-1707	1119	18	statutory	statutory	ADJ
cblr-1707	1119	19	factors	factor	NOUN
cblr-1707	1119	20	,	,	PUNCT
cblr-1707	1119	21	including	include	VERB
cblr-1707	1119	22	the	the	DET
cblr-1707	1119	23	“	"	PUNCT
cblr-1707	1119	24	convenience	convenience	NOUN
cblr-1707	1119	25	and	and	CCONJ
cblr-1707	1119	26	needs	need	NOUN
cblr-1707	1119	27	”	"	PUNCT
cblr-1707	1119	28	factor	factor	NOUN
cblr-1707	1119	29	.	.	PUNCT
cblr-1707	1120	1	see	see	VERB
cblr-1707	1120	2	,	,	PUNCT
cblr-1707	1120	3	e.g.	e.g.	ADV
cblr-1707	1120	4	,	,	PUNCT
cblr-1707	1120	5	camp	camp	NOUN
cblr-1707	1120	6	v.	v.	ADP
cblr-1707	1120	7	pitts	pitt	NOUN
cblr-1707	1120	8	,	,	PUNCT
cblr-1707	1120	9	411	411	NUM
cblr-1707	1120	10	u.s	u.s	PROPN
cblr-1707	1120	11	.	.	PROPN
cblr-1707	1120	12	138	138	NUM
cblr-1707	1120	13	(	(	PUNCT
cblr-1707	1120	14	1973	1973	NUM
cblr-1707	1120	15	)	)	PUNCT
cblr-1707	1120	16	.	.	PUNCT
cblr-1707	1121	1	for	for	ADP
cblr-1707	1121	2	a	a	DET
cblr-1707	1121	3	thorough	thorough	ADJ
cblr-1707	1121	4	,	,	PUNCT
cblr-1707	1121	5	highly	highly	ADV
cblr-1707	1121	6	critical	critical	ADJ
cblr-1707	1121	7	analysis	analysis	NOUN
cblr-1707	1121	8	of	of	ADP
cblr-1707	1121	9	federal	federal	ADJ
cblr-1707	1121	10	banking	banking	NOUN
cblr-1707	1121	11	agencies	agency	NOUN
cblr-1707	1121	12	’	’	PART
cblr-1707	1121	13	chartering	charter	VERB
cblr-1707	1121	14	decisions	decision	NOUN
cblr-1707	1121	15	from	from	ADP
cblr-1707	1121	16	the	the	DET
cblr-1707	1121	17	new	new	ADJ
cblr-1707	1121	18	deal	deal	NOUN
cblr-1707	1121	19	to	to	ADP
cblr-1707	1121	20	the	the	DET
cblr-1707	1121	21	early	early	ADJ
cblr-1707	1121	22	1970s	1970	NOUN
cblr-1707	1121	23	,	,	PUNCT
cblr-1707	1121	24	see	see	VERB
cblr-1707	1121	25	kenneth	kenneth	PROPN
cblr-1707	1121	26	e.	e.	PROPN
cblr-1707	1121	27	scott	scott	PROPN
cblr-1707	1121	28	,	,	PUNCT
cblr-1707	1121	29	in	in	ADP
cblr-1707	1121	30	quest	quest	NOUN
cblr-1707	1121	31	of	of	ADP
cblr-1707	1121	32	reason	reason	NOUN
cblr-1707	1121	33	:	:	PUNCT
cblr-1707	1121	34	the	the	DET
cblr-1707	1121	35	licensing	licensing	NOUN
cblr-1707	1121	36	decisions	decision	NOUN
cblr-1707	1121	37	of	of	ADP
cblr-1707	1121	38	the	the	DET
cblr-1707	1121	39	federal	federal	ADJ
cblr-1707	1121	40	banking	banking	NOUN
cblr-1707	1121	41	agencies	agency	NOUN
cblr-1707	1121	42	,	,	PUNCT
cblr-1707	1121	43	42	42	NUM
cblr-1707	1121	44	u.	u.	NOUN
cblr-1707	1121	45	chi	chi	PROPN
cblr-1707	1121	46	.	.	PUNCT
cblr-1707	1122	1	l.	l.	PROPN
cblr-1707	1122	2	rev	rev	PROPN
cblr-1707	1122	3	.	.	PROPN
cblr-1707	1122	4	235	235	NUM
cblr-1707	1122	5	(	(	PUNCT
cblr-1707	1122	6	1975	1975	NUM
cblr-1707	1122	7	)	)	PUNCT
cblr-1707	1122	8	.	.	PUNCT
cblr-1707	1123	1	194	194	NUM
cblr-1707	1123	2	william	william	PROPN
cblr-1707	1123	3	k.	k.	PROPN
cblr-1707	1123	4	jones	jones	PROPN
cblr-1707	1123	5	,	,	PUNCT
cblr-1707	1123	6	origins	origin	NOUN
cblr-1707	1123	7	of	of	ADP
cblr-1707	1123	8	the	the	DET
cblr-1707	1123	9	certificate	certificate	NOUN
cblr-1707	1123	10	of	of	ADP
cblr-1707	1123	11	public	public	ADJ
cblr-1707	1123	12	convenience	convenience	NOUN
cblr-1707	1123	13	and	and	CCONJ
cblr-1707	1123	14	necessity	necessity	NOUN
cblr-1707	1123	15	:	:	PUNCT
cblr-1707	1123	16	developments	development	NOUN
cblr-1707	1123	17	in	in	ADP
cblr-1707	1123	18	the	the	DET
cblr-1707	1123	19	states	state	NOUN
cblr-1707	1123	20	,	,	PUNCT
cblr-1707	1123	21	1870–1920	1870–1920	NUM
cblr-1707	1123	22	,	,	PUNCT
cblr-1707	1123	23	79	79	NUM
cblr-1707	1123	24	colum	colum	NOUN
cblr-1707	1123	25	.	.	PUNCT
cblr-1707	1124	1	l.	l.	PROPN
cblr-1707	1124	2	rev	rev	PROPN
cblr-1707	1124	3	.	.	PROPN
cblr-1707	1124	4	426	426	NUM
cblr-1707	1124	5	,	,	PUNCT
cblr-1707	1124	6	426	426	NUM
cblr-1707	1124	7	(	(	PUNCT
cblr-1707	1124	8	1979	1979	NUM
cblr-1707	1124	9	)	)	PUNCT
cblr-1707	1124	10	.	.	PUNCT
cblr-1707	1125	1	195	195	NUM
cblr-1707	1125	2	see	see	NOUN
cblr-1707	1125	3	breyer	breyer	NOUN
cblr-1707	1125	4	,	,	PUNCT
cblr-1707	1125	5	supra	supra	PROPN
cblr-1707	1125	6	note	note	NOUN
cblr-1707	1125	7	136	136	NUM
cblr-1707	1125	8	,	,	PUNCT
cblr-1707	1125	9	at	at	ADP
cblr-1707	1125	10	71	71	NUM
cblr-1707	1125	11	;	;	PUNCT
cblr-1707	1125	12	jones	jones	PROPN
cblr-1707	1125	13	,	,	PUNCT
cblr-1707	1125	14	supra	supra	PROPN
cblr-1707	1125	15	note	note	PROPN
cblr-1707	1125	16	194	194	NUM
cblr-1707	1125	17	,	,	PUNCT
cblr-1707	1125	18	at	at	ADP
cblr-1707	1125	19	427	427	NUM
cblr-1707	1125	20	.	.	PUNCT
cblr-1707	1125	21	196	196	NUM
cblr-1707	1125	22	see	see	NOUN
cblr-1707	1125	23	breyer	breyer	NOUN
cblr-1707	1125	24	,	,	PUNCT
cblr-1707	1125	25	supra	supra	PROPN
cblr-1707	1125	26	note	note	NOUN
cblr-1707	1125	27	136	136	NUM
cblr-1707	1125	28	,	,	PUNCT
cblr-1707	1125	29	at	at	ADP
cblr-1707	1125	30	194	194	NUM
cblr-1707	1125	31	;	;	PUNCT
cblr-1707	1125	32	pierce	pierce	PROPN
cblr-1707	1125	33	&	&	CCONJ
cblr-1707	1125	34	gellhorn	gellhorn	PROPN
cblr-1707	1125	35	,	,	PUNCT
cblr-1707	1125	36	supra	supra	ADJ
cblr-1707	1125	37	note	note	NOUN
cblr-1707	1125	38	136	136	NUM
cblr-1707	1125	39	,	,	PUNCT
cblr-1707	1125	40	at	at	ADP
cblr-1707	1125	41	256	256	NUM
cblr-1707	1125	42	,	,	PUNCT
cblr-1707	1125	43	278	278	NUM
cblr-1707	1125	44	.	.	NOUN
cblr-1707	1126	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	1126	2	no	no	NOUN
cblr-1707	1126	3	.	.	PUNCT
cblr-1707	1127	1	3:757	3:757	NUM
cblr-1707	1127	2	]	]	X
cblr-1707	1127	3	money	money	NOUN
cblr-1707	1127	4	as	as	ADP
cblr-1707	1127	5	infrastructure	infrastructure	NOUN
cblr-1707	1127	6	819	819	NUM
cblr-1707	1127	7	and	and	CCONJ
cblr-1707	1127	8	telephone	telephone	NOUN
cblr-1707	1127	9	services	service	NOUN
cblr-1707	1127	10	,	,	PUNCT
cblr-1707	1127	11	and	and	CCONJ
cblr-1707	1127	12	gas	gas	NOUN
cblr-1707	1127	13	,	,	PUNCT
cblr-1707	1127	14	electric	electric	NOUN
cblr-1707	1127	15	,	,	PUNCT
cblr-1707	1127	16	and	and	CCONJ
cblr-1707	1127	17	water	water	NOUN
cblr-1707	1127	18	utilities	utility	NOUN
cblr-1707	1127	19	were	be	AUX
cblr-1707	1127	20	subjected	subject	VERB
cblr-1707	1127	21	to	to	ADP
cblr-1707	1127	22	pcn	pcn	PROPN
cblr-1707	1127	23	certificate	certificate	NOUN
cblr-1707	1127	24	requirements	requirement	NOUN
cblr-1707	1127	25	in	in	ADP
cblr-1707	1127	26	most	most	ADJ
cblr-1707	1127	27	states.197	states.197	NOUN
cblr-1707	1127	28	congress	congress	PROPN
cblr-1707	1127	29	later	later	ADV
cblr-1707	1127	30	elevated	elevate	VERB
cblr-1707	1127	31	pcn	pcn	PROPN
cblr-1707	1127	32	certificate	certificate	NOUN
cblr-1707	1127	33	requirements	requirement	NOUN
cblr-1707	1127	34	to	to	ADP
cblr-1707	1127	35	the	the	DET
cblr-1707	1127	36	federal	federal	ADJ
cblr-1707	1127	37	level	level	NOUN
cblr-1707	1127	38	,	,	PUNCT
cblr-1707	1127	39	starting	start	VERB
cblr-1707	1127	40	with	with	ADP
cblr-1707	1127	41	railroads	railroad	NOUN
cblr-1707	1127	42	in	in	ADP
cblr-1707	1127	43	1920,198	1920,198	NUM
cblr-1707	1127	44	followed	follow	VERB
cblr-1707	1127	45	by	by	ADP
cblr-1707	1127	46	other	other	ADJ
cblr-1707	1127	47	transportation	transportation	NOUN
cblr-1707	1127	48	industries199	industries199	PROPN
cblr-1707	1127	49	and	and	CCONJ
cblr-1707	1127	50	the	the	DET
cblr-1707	1127	51	telecommunications	telecommunications	NOUN
cblr-1707	1127	52	industry	industry	NOUN
cblr-1707	1127	53	during	during	ADP
cblr-1707	1127	54	the	the	DET
cblr-1707	1127	55	new	new	ADJ
cblr-1707	1127	56	deal.200	deal.200	NOUN
cblr-1707	1127	57	by	by	ADP
cblr-1707	1127	58	inserting	insert	VERB
cblr-1707	1127	59	this	this	DET
cblr-1707	1127	60	requirement	requirement	NOUN
cblr-1707	1127	61	into	into	ADP
cblr-1707	1127	62	federal	federal	ADJ
cblr-1707	1127	63	banking	banking	NOUN
cblr-1707	1127	64	law	law	NOUN
cblr-1707	1127	65	in	in	ADP
cblr-1707	1127	66	1935	1935	NUM
cblr-1707	1127	67	,	,	PUNCT
cblr-1707	1127	68	congress	congress	PROPN
cblr-1707	1127	69	affirmed	affirm	VERB
cblr-1707	1127	70	the	the	DET
cblr-1707	1127	71	commonality	commonality	NOUN
cblr-1707	1127	72	between	between	ADP
cblr-1707	1127	73	banking	banking	NOUN
cblr-1707	1127	74	and	and	CCONJ
cblr-1707	1127	75	other	other	ADJ
cblr-1707	1127	76	network	network	NOUN
cblr-1707	1127	77	-	-	PUNCT
cblr-1707	1127	78	type	type	NOUN
cblr-1707	1127	79	industries	industry	NOUN
cblr-1707	1127	80	.	.	PUNCT
cblr-1707	1128	1	for	for	ADP
cblr-1707	1128	2	some	some	DET
cblr-1707	1128	3	time	time	NOUN
cblr-1707	1128	4	thereafter	thereafter	ADV
cblr-1707	1128	5	,	,	PUNCT
cblr-1707	1128	6	the	the	DET
cblr-1707	1128	7	occ	occ	NOUN
cblr-1707	1128	8	took	take	VERB
cblr-1707	1128	9	policing	policing	NOUN
cblr-1707	1128	10	entry	entry	NOUN
cblr-1707	1128	11	to	to	PART
cblr-1707	1128	12	be	be	AUX
cblr-1707	1128	13	central	central	ADJ
cblr-1707	1128	14	to	to	ADP
cblr-1707	1128	15	its	its	PRON
cblr-1707	1128	16	mission	mission	NOUN
cblr-1707	1128	17	.	.	PUNCT
cblr-1707	1129	1	as	as	ADV
cblr-1707	1129	2	late	late	ADV
cblr-1707	1129	3	as	as	ADP
cblr-1707	1129	4	1976	1976	NUM
cblr-1707	1129	5	,	,	PUNCT
cblr-1707	1129	6	the	the	DET
cblr-1707	1129	7	occ	occ	NOUN
cblr-1707	1129	8	asserted	assert	VERB
cblr-1707	1129	9	that	that	SCONJ
cblr-1707	1129	10	“	"	PUNCT
cblr-1707	1129	11	[	[	X
cblr-1707	1129	12	t]he	t]he	ADV
cblr-1707	1129	13	vital	vital	ADJ
cblr-1707	1129	14	relationship	relationship	NOUN
cblr-1707	1129	15	of	of	ADP
cblr-1707	1129	16	banking	banking	NOUN
cblr-1707	1129	17	to	to	ADP
cblr-1707	1129	18	the	the	DET
cblr-1707	1129	19	monetary	monetary	ADJ
cblr-1707	1129	20	system	system	NOUN
cblr-1707	1129	21	precludes	preclude	VERB
cblr-1707	1129	22	complete	complete	ADJ
cblr-1707	1129	23	free	free	ADJ
cblr-1707	1129	24	market	market	NOUN
cblr-1707	1129	25	operation	operation	NOUN
cblr-1707	1129	26	with	with	ADP
cblr-1707	1129	27	unlimited	unlimited	ADJ
cblr-1707	1129	28	entry	entry	NOUN
cblr-1707	1129	29	.	.	PUNCT
cblr-1707	1130	1	”201	”201	NOUN
cblr-1707	1130	2	the	the	DET
cblr-1707	1130	3	occ	occ	NOUN
cblr-1707	1130	4	looked	look	VERB
cblr-1707	1130	5	at	at	ADP
cblr-1707	1130	6	“	"	PUNCT
cblr-1707	1130	7	[	[	X
cblr-1707	1130	8	t]he	t]he	ADV
cblr-1707	1130	9	current	current	ADJ
cblr-1707	1130	10	economic	economic	ADJ
cblr-1707	1130	11	condition	condition	NOUN
cblr-1707	1130	12	or	or	CCONJ
cblr-1707	1130	13	growth	growth	NOUN
cblr-1707	1130	14	potential	potential	NOUN
cblr-1707	1130	15	of	of	ADP
cblr-1707	1130	16	the	the	DET
cblr-1707	1130	17	market	market	NOUN
cblr-1707	1130	18	in	in	ADP
cblr-1707	1130	19	which	which	PRON
cblr-1707	1130	20	the	the	DET
cblr-1707	1130	21	new	new	ADJ
cblr-1707	1130	22	bank	bank	NOUN
cblr-1707	1130	23	proposes	propose	VERB
cblr-1707	1130	24	to	to	PART
cblr-1707	1130	25	locate	locate	VERB
cblr-1707	1130	26	”	"	PUNCT
cblr-1707	1130	27	when	when	SCONJ
cblr-1707	1130	28	considering	consider	VERB
cblr-1707	1130	29	bank	bank	NOUN
cblr-1707	1130	30	charter	charter	NOUN
cblr-1707	1130	31	applications.202	applications.202	PROPN
cblr-1707	1130	32	this	this	PRON
cblr-1707	1130	33	was	be	AUX
cblr-1707	1130	34	a	a	DET
cblr-1707	1130	35	firm	firm	ADJ
cblr-1707	1130	36	assertion	assertion	NOUN
cblr-1707	1130	37	of	of	ADP
cblr-1707	1130	38	the	the	DET
cblr-1707	1130	39	occ	occ	PROPN
cblr-1707	1130	40	’s	’s	NOUN
cblr-1707	1130	41	bank	bank	NOUN
cblr-1707	1130	42	chartering	charter	VERB
cblr-1707	1130	43	prerogatives	prerogative	NOUN
cblr-1707	1130	44	.	.	PUNCT
cblr-1707	1131	1	in	in	ADP
cblr-1707	1131	2	1980	1980	NUM
cblr-1707	1131	3	,	,	PUNCT
cblr-1707	1131	4	though	though	ADV
cblr-1707	1131	5	,	,	PUNCT
cblr-1707	1131	6	apparently	apparently	ADV
cblr-1707	1131	7	under	under	ADP
cblr-1707	1131	8	pressure	pressure	NOUN
cblr-1707	1131	9	from	from	ADP
cblr-1707	1131	10	congress,203	congress,203	PROPN
cblr-1707	1131	11	the	the	DET
cblr-1707	1131	12	occ	occ	NOUN
cblr-1707	1131	13	announced	announce	VERB
cblr-1707	1131	14	a	a	DET
cblr-1707	1131	15	major	major	ADJ
cblr-1707	1131	16	“	"	PUNCT
cblr-1707	1131	17	shift	shift	NOUN
cblr-1707	1131	18	in	in	ADP
cblr-1707	1131	19	emphasis	emphasis	NOUN
cblr-1707	1131	20	.	.	PUNCT
cblr-1707	1132	1	”204	”204	PROPN
cblr-1707	1133	1	it	it	PRON
cblr-1707	1133	2	would	would	AUX
cblr-1707	1133	3	no	no	ADV
cblr-1707	1133	4	longer	long	ADV
cblr-1707	1133	5	deny	deny	VERB
cblr-1707	1133	6	bank	bank	NOUN
cblr-1707	1133	7	charters	charter	NOUN
cblr-1707	1133	8	due	due	ADP
cblr-1707	1133	9	to	to	ADP
cblr-1707	1133	10	“	"	PUNCT
cblr-1707	1133	11	the	the	DET
cblr-1707	1133	12	distressed	distressed	ADJ
cblr-1707	1133	13	condition	condition	NOUN
cblr-1707	1133	14	of	of	ADP
cblr-1707	1133	15	a	a	DET
cblr-1707	1133	16	market	market	NOUN
cblr-1707	1133	17	[	[	X
cblr-1707	1133	18	or	or	CCONJ
cblr-1707	1133	19	]	]	PUNCT
cblr-1707	1133	20	the	the	DET
cblr-1707	1133	21	existence	existence	NOUN
cblr-1707	1133	22	of	of	ADP
cblr-1707	1133	23	an	an	DET
cblr-1707	1133	24	‘	'	PUNCT
cblr-1707	1133	25	adequate	adequate	ADJ
cblr-1707	1133	26	’	'	PUNCT
cblr-1707	1133	27	number	number	NOUN
cblr-1707	1133	28	of	of	ADP
cblr-1707	1133	29	banking	banking	NOUN
cblr-1707	1133	30	offices	office	NOUN
cblr-1707	1133	31	.	.	PUNCT
cblr-1707	1133	32	”205	”205	PUNCT
cblr-1707	1134	1	the	the	DET
cblr-1707	1134	2	“	"	PUNCT
cblr-1707	1134	3	convenience	convenience	NOUN
cblr-1707	1134	4	and	and	CCONJ
cblr-1707	1134	5	needs	need	NOUN
cblr-1707	1134	6	of	of	ADP
cblr-1707	1134	7	communities	community	NOUN
cblr-1707	1134	8	for	for	ADP
cblr-1707	1134	9	banking	banking	NOUN
cblr-1707	1134	10	services	service	NOUN
cblr-1707	1134	11	,	,	PUNCT
cblr-1707	1134	12	”	"	PUNCT
cblr-1707	1134	13	it	it	PRON
cblr-1707	1134	14	now	now	ADV
cblr-1707	1134	15	opined	opine	VERB
cblr-1707	1134	16	,	,	PUNCT
cblr-1707	1134	17	197	197	NUM
cblr-1707	1134	18	see	see	NOUN
cblr-1707	1134	19	jones	jones	PROPN
cblr-1707	1134	20	,	,	PUNCT
cblr-1707	1134	21	supra	supra	PROPN
cblr-1707	1134	22	note	note	PROPN
cblr-1707	1134	23	194	194	NUM
cblr-1707	1134	24	,	,	PUNCT
cblr-1707	1134	25	at	at	ADP
cblr-1707	1134	26	454–55	454–55	NOUN
cblr-1707	1134	27	.	.	PUNCT
cblr-1707	1135	1	198	198	NUM
cblr-1707	1135	2	see	see	VERB
cblr-1707	1135	3	transportation	transportation	NOUN
cblr-1707	1135	4	act	act	NOUN
cblr-1707	1135	5	,	,	PUNCT
cblr-1707	1135	6	1920	1920	NUM
cblr-1707	1135	7	(	(	PUNCT
cblr-1707	1135	8	esch	esch	PROPN
cblr-1707	1135	9	-	-	PUNCT
cblr-1707	1135	10	cummins	cummins	PROPN
cblr-1707	1135	11	act	act	PROPN
cblr-1707	1135	12	)	)	PUNCT
cblr-1707	1135	13	,	,	PUNCT
cblr-1707	1135	14	pub	pub	NOUN
cblr-1707	1135	15	.	.	PUNCT
cblr-1707	1136	1	l.	l.	PROPN
cblr-1707	1136	2	no	no	INTJ
cblr-1707	1136	3	.	.	PROPN
cblr-1707	1137	1	66152	66152	NUM
cblr-1707	1137	2	,	,	PUNCT
cblr-1707	1137	3	§	§	PROPN
cblr-1707	1137	4	402	402	NUM
cblr-1707	1137	5	,	,	PUNCT
cblr-1707	1137	6	41	41	NUM
cblr-1707	1137	7	stat	stat	NOUN
cblr-1707	1137	8	.	.	PUNCT
cblr-1707	1138	1	456	456	NUM
cblr-1707	1138	2	,	,	PUNCT
cblr-1707	1138	3	477–78	477–78	NUM
cblr-1707	1138	4	.	.	PROPN
cblr-1707	1138	5	199	199	NUM
cblr-1707	1138	6	see	see	NOUN
cblr-1707	1138	7	,	,	PUNCT
cblr-1707	1138	8	e.g.	e.g.	ADV
cblr-1707	1138	9	,	,	PUNCT
cblr-1707	1138	10	civil	civil	ADJ
cblr-1707	1138	11	aeronautics	aeronautic	NOUN
cblr-1707	1138	12	act	act	NOUN
cblr-1707	1138	13	of	of	ADP
cblr-1707	1138	14	1938	1938	NUM
cblr-1707	1138	15	,	,	PUNCT
cblr-1707	1138	16	pub	pub	NOUN
cblr-1707	1138	17	.	.	PUNCT
cblr-1707	1139	1	l.	l.	PROPN
cblr-1707	1139	2	no	no	INTJ
cblr-1707	1139	3	.	.	PROPN
cblr-1707	1140	1	75	75	NUM
cblr-1707	1140	2	-	-	SYM
cblr-1707	1140	3	706	706	NUM
cblr-1707	1140	4	,	,	PUNCT
cblr-1707	1140	5	§	§	PROPN
cblr-1707	1140	6	401	401	NUM
cblr-1707	1140	7	,	,	PUNCT
cblr-1707	1140	8	52	52	NUM
cblr-1707	1140	9	stat	stat	NOUN
cblr-1707	1140	10	.	.	PUNCT
cblr-1707	1141	1	973	973	NUM
cblr-1707	1141	2	,	,	PUNCT
cblr-1707	1141	3	987–89	987–89	NUM
cblr-1707	1141	4	.	.	PUNCT
cblr-1707	1142	1	200	200	NUM
cblr-1707	1142	2	see	see	VERB
cblr-1707	1142	3	communications	communication	NOUN
cblr-1707	1142	4	act	act	NOUN
cblr-1707	1142	5	of	of	ADP
cblr-1707	1142	6	1934	1934	NUM
cblr-1707	1142	7	,	,	PUNCT
cblr-1707	1142	8	pub	pub	NOUN
cblr-1707	1142	9	.	.	PUNCT
cblr-1707	1143	1	l.	l.	PROPN
cblr-1707	1143	2	no	no	INTJ
cblr-1707	1143	3	.	.	PUNCT
cblr-1707	1144	1	73	73	NUM
cblr-1707	1144	2	-	-	SYM
cblr-1707	1144	3	416	416	NUM
cblr-1707	1144	4	,	,	PUNCT
cblr-1707	1144	5	§	§	PROPN
cblr-1707	1144	6	214	214	NUM
cblr-1707	1144	7	,	,	PUNCT
cblr-1707	1144	8	48	48	NUM
cblr-1707	1144	9	stat	stat	NOUN
cblr-1707	1144	10	.	.	PUNCT
cblr-1707	1145	1	1064	1064	NUM
cblr-1707	1145	2	,	,	PUNCT
cblr-1707	1145	3	1075–76	1075–76	NUM
cblr-1707	1145	4	.	.	PUNCT
cblr-1707	1146	1	201	201	NUM
cblr-1707	1146	2	bank	bank	NOUN
cblr-1707	1146	3	charters	charter	NOUN
cblr-1707	1146	4	,	,	PUNCT
cblr-1707	1146	5	branches	branch	NOUN
cblr-1707	1146	6	,	,	PUNCT
cblr-1707	1146	7	conversions	conversion	NOUN
cblr-1707	1146	8	,	,	PUNCT
cblr-1707	1146	9	etc	etc	X
cblr-1707	1146	10	.	.	X
cblr-1707	1146	11	,	,	PUNCT
cblr-1707	1146	12	41	41	NUM
cblr-1707	1146	13	fed	feed	VERB
cblr-1707	1146	14	.	.	PUNCT
cblr-1707	1147	1	reg	reg	PROPN
cblr-1707	1147	2	.	.	PROPN
cblr-1707	1147	3	47,964	47,964	NUM
cblr-1707	1147	4	,	,	PUNCT
cblr-1707	1147	5	47,964	47,964	NUM
cblr-1707	1147	6	(	(	PUNCT
cblr-1707	1147	7	nov	nov	PROPN
cblr-1707	1147	8	.	.	PROPN
cblr-1707	1147	9	1	1	NUM
cblr-1707	1147	10	,	,	PUNCT
cblr-1707	1147	11	1976	1976	NUM
cblr-1707	1147	12	)	)	PUNCT
cblr-1707	1147	13	;	;	PUNCT
cblr-1707	1147	14	see	see	VERB
cblr-1707	1147	15	also	also	ADV
cblr-1707	1147	16	eugene	eugene	PROPN
cblr-1707	1147	17	n.	n.	PROPN
cblr-1707	1147	18	white	white	PROPN
cblr-1707	1147	19	,	,	PUNCT
cblr-1707	1147	20	the	the	DET
cblr-1707	1147	21	comptroller	comptroller	NOUN
cblr-1707	1147	22	and	and	CCONJ
cblr-1707	1147	23	the	the	DET
cblr-1707	1147	24	transformation	transformation	NOUN
cblr-1707	1147	25	of	of	ADP
cblr-1707	1147	26	american	american	ADJ
cblr-1707	1147	27	banking	banking	NOUN
cblr-1707	1147	28	,	,	PUNCT
cblr-1707	1147	29	1960–1990	1960–1990	NUM
cblr-1707	1147	30	,	,	PUNCT
cblr-1707	1147	31	at	at	ADP
cblr-1707	1147	32	53–54	53–54	NUM
cblr-1707	1147	33	(	(	PUNCT
cblr-1707	1147	34	1992	1992	NUM
cblr-1707	1147	35	)	)	PUNCT
cblr-1707	1147	36	.	.	PUNCT
cblr-1707	1148	1	202	202	NUM
cblr-1707	1148	2	bank	bank	NOUN
cblr-1707	1148	3	charters	charter	NOUN
cblr-1707	1148	4	,	,	PUNCT
cblr-1707	1148	5	branches	branch	NOUN
cblr-1707	1148	6	,	,	PUNCT
cblr-1707	1148	7	conversions	conversion	NOUN
cblr-1707	1148	8	,	,	PUNCT
cblr-1707	1148	9	etc	etc	X
cblr-1707	1148	10	.	.	X
cblr-1707	1148	11	,	,	PUNCT
cblr-1707	1148	12	41	41	NUM
cblr-1707	1148	13	fed	feed	VERB
cblr-1707	1148	14	.	.	PUNCT
cblr-1707	1149	1	reg	reg	PROPN
cblr-1707	1149	2	.	.	PUNCT
cblr-1707	1150	1	at	at	ADP
cblr-1707	1150	2	47,965	47,965	NUM
cblr-1707	1150	3	.	.	PUNCT
cblr-1707	1151	1	203	203	NUM
cblr-1707	1151	2	see	see	VERB
cblr-1707	1151	3	white	white	ADJ
cblr-1707	1151	4	,	,	PUNCT
cblr-1707	1151	5	supra	supra	PROPN
cblr-1707	1151	6	note	note	PROPN
cblr-1707	1151	7	201	201	NUM
cblr-1707	1151	8	,	,	PUNCT
cblr-1707	1151	9	at	at	ADP
cblr-1707	1151	10	54–55	54–55	NUM
cblr-1707	1151	11	.	.	PUNCT
cblr-1707	1152	1	204	204	NUM
cblr-1707	1152	2	rules	rule	NOUN
cblr-1707	1152	3	,	,	PUNCT
cblr-1707	1152	4	policies	policy	NOUN
cblr-1707	1152	5	and	and	CCONJ
cblr-1707	1152	6	procedures	procedure	NOUN
cblr-1707	1152	7	for	for	ADP
cblr-1707	1152	8	corporate	corporate	ADJ
cblr-1707	1152	9	activities	activity	NOUN
cblr-1707	1152	10	;	;	PUNCT
cblr-1707	1152	11	charter	charter	NOUN
cblr-1707	1152	12	policy	policy	NOUN
cblr-1707	1152	13	,	,	PUNCT
cblr-1707	1152	14	45	45	NUM
cblr-1707	1152	15	fed	feed	VERB
cblr-1707	1152	16	.	.	PUNCT
cblr-1707	1153	1	reg	reg	PROPN
cblr-1707	1153	2	.	.	PUNCT
cblr-1707	1154	1	68,603	68,603	NUM
cblr-1707	1154	2	,	,	PUNCT
cblr-1707	1154	3	68,603	68,603	NUM
cblr-1707	1154	4	(	(	PUNCT
cblr-1707	1154	5	oct	oct	PROPN
cblr-1707	1154	6	.	.	PROPN
cblr-1707	1154	7	15	15	NUM
cblr-1707	1154	8	,	,	PUNCT
cblr-1707	1154	9	1980	1980	NUM
cblr-1707	1154	10	)	)	PUNCT
cblr-1707	1154	11	.	.	PUNCT
cblr-1707	1155	1	205	205	NUM
cblr-1707	1156	1	i	i	PRON
cblr-1707	1156	2	d.	d.	PROPN
cblr-1707	1156	3	2018.3_ricks_final	2018.3_ricks_final	PROPN
cblr-1707	1156	4	820	820	NUM
cblr-1707	1156	5	columbia	columbia	PROPN
cblr-1707	1156	6	business	business	NOUN
cblr-1707	1156	7	law	law	PROPN
cblr-1707	1156	8	review	review	NOUN
cblr-1707	1156	9	[	[	X
cblr-1707	1156	10	vol	vol	NOUN
cblr-1707	1156	11	.	.	NOUN
cblr-1707	1156	12	2018	2018	NUM
cblr-1707	1156	13	“	"	PUNCT
cblr-1707	1156	14	are	be	AUX
cblr-1707	1156	15	best	well	ADV
cblr-1707	1156	16	served	serve	VERB
cblr-1707	1156	17	by	by	ADP
cblr-1707	1156	18	a	a	DET
cblr-1707	1156	19	high	high	ADJ
cblr-1707	1156	20	degree	degree	NOUN
cblr-1707	1156	21	of	of	ADP
cblr-1707	1156	22	competition[.]”206	competition[.]”206	NOUN
cblr-1707	1156	23	accordingly	accordingly	ADV
cblr-1707	1156	24	,	,	PUNCT
cblr-1707	1156	25	“	"	PUNCT
cblr-1707	1156	26	market	market	NOUN
cblr-1707	1156	27	conditions	condition	NOUN
cblr-1707	1156	28	alone	alone	ADV
cblr-1707	1156	29	will	will	AUX
cblr-1707	1156	30	rarely	rarely	ADV
cblr-1707	1156	31	provide	provide	VERB
cblr-1707	1156	32	the	the	DET
cblr-1707	1156	33	basis	basis	NOUN
cblr-1707	1156	34	for	for	ADP
cblr-1707	1156	35	denial	denial	NOUN
cblr-1707	1156	36	.	.	PUNCT
cblr-1707	1156	37	”207	”207	VERB
cblr-1707	1156	38	no	no	ADV
cblr-1707	1156	39	doubt	doubt	ADV
cblr-1707	1156	40	influenced	influence	VERB
cblr-1707	1156	41	by	by	ADP
cblr-1707	1156	42	the	the	DET
cblr-1707	1156	43	prevailing	prevail	VERB
cblr-1707	1156	44	deregulatory	deregulatory	NOUN
cblr-1707	1156	45	ethos	ethos	NOUN
cblr-1707	1156	46	of	of	ADP
cblr-1707	1156	47	the	the	DET
cblr-1707	1156	48	time	time	NOUN
cblr-1707	1156	49	,	,	PUNCT
cblr-1707	1156	50	the	the	DET
cblr-1707	1156	51	occ	occ	NOUN
cblr-1707	1156	52	stated	state	VERB
cblr-1707	1156	53	that	that	SCONJ
cblr-1707	1156	54	“	"	PUNCT
cblr-1707	1156	55	the	the	DET
cblr-1707	1156	56	marketplace	marketplace	NOUN
cblr-1707	1156	57	normally	normally	ADV
cblr-1707	1156	58	is	be	AUX
cblr-1707	1156	59	the	the	DET
cblr-1707	1156	60	best	good	ADJ
cblr-1707	1156	61	regulator	regulator	NOUN
cblr-1707	1156	62	of	of	ADP
cblr-1707	1156	63	economic	economic	ADJ
cblr-1707	1156	64	activity	activity	NOUN
cblr-1707	1156	65	,	,	PUNCT
cblr-1707	1156	66	and	and	CCONJ
cblr-1707	1156	67	competition	competition	NOUN
cblr-1707	1156	68	allows	allow	VERB
cblr-1707	1156	69	the	the	DET
cblr-1707	1156	70	marketplace	marketplace	NOUN
cblr-1707	1156	71	to	to	ADP
cblr-1707	1156	72	function[.]”208	function[.]”208	NOUN
cblr-1707	1156	73	by	by	ADP
cblr-1707	1156	74	equating	equate	VERB
cblr-1707	1156	75	“	"	PUNCT
cblr-1707	1156	76	convenience	convenience	NOUN
cblr-1707	1156	77	and	and	CCONJ
cblr-1707	1156	78	needs	need	NOUN
cblr-1707	1156	79	”	"	PUNCT
cblr-1707	1156	80	with	with	ADP
cblr-1707	1156	81	“	"	PUNCT
cblr-1707	1156	82	competition”—which	competition”—which	X
cblr-1707	1156	83	can	can	AUX
cblr-1707	1156	84	only	only	ADV
cblr-1707	1156	85	favor	favor	VERB
cblr-1707	1156	86	approving	approve	VERB
cblr-1707	1156	87	a	a	DET
cblr-1707	1156	88	charter	charter	NOUN
cblr-1707	1156	89	application	application	NOUN
cblr-1707	1156	90	—	—	PUNCT
cblr-1707	1156	91	the	the	DET
cblr-1707	1156	92	occ	occ	NOUN
cblr-1707	1156	93	effectively	effectively	ADV
cblr-1707	1156	94	read	read	VERB
cblr-1707	1156	95	the	the	DET
cblr-1707	1156	96	“	"	PUNCT
cblr-1707	1156	97	convenience	convenience	NOUN
cblr-1707	1156	98	and	and	CCONJ
cblr-1707	1156	99	needs	need	NOUN
cblr-1707	1156	100	”	"	PUNCT
cblr-1707	1156	101	factor	factor	NOUN
cblr-1707	1156	102	out	out	ADP
cblr-1707	1156	103	of	of	ADP
cblr-1707	1156	104	the	the	DET
cblr-1707	1156	105	statute	statute	NOUN
cblr-1707	1156	106	.	.	PUNCT
cblr-1707	1157	1	in	in	ADP
cblr-1707	1157	2	1991	1991	NUM
cblr-1707	1157	3	,	,	PUNCT
cblr-1707	1157	4	congress	congress	PROPN
cblr-1707	1157	5	followed	follow	VERB
cblr-1707	1157	6	the	the	DET
cblr-1707	1157	7	occ	occ	NOUN
cblr-1707	1157	8	’s	’s	PART
cblr-1707	1157	9	lead	lead	NOUN
cblr-1707	1157	10	.	.	PUNCT
cblr-1707	1158	1	it	it	PRON
cblr-1707	1158	2	unceremoniously	unceremoniously	ADV
cblr-1707	1158	3	deleted	delete	VERB
cblr-1707	1158	4	the	the	DET
cblr-1707	1158	5	provision	provision	NOUN
cblr-1707	1158	6	—	—	PUNCT
cblr-1707	1158	7	originating	originate	VERB
cblr-1707	1158	8	with	with	ADP
cblr-1707	1158	9	the	the	DET
cblr-1707	1158	10	1935	1935	NUM
cblr-1707	1158	11	act	act	NOUN
cblr-1707	1158	12	—	—	PUNCT
cblr-1707	1158	13	requiring	require	VERB
cblr-1707	1158	14	that	that	SCONJ
cblr-1707	1158	15	the	the	DET
cblr-1707	1158	16	occ	occ	NOUN
cblr-1707	1158	17	certify	certify	NOUN
cblr-1707	1158	18	to	to	ADP
cblr-1707	1158	19	the	the	DET
cblr-1707	1158	20	fdic	fdic	PROPN
cblr-1707	1158	21	that	that	SCONJ
cblr-1707	1158	22	it	it	PRON
cblr-1707	1158	23	had	have	AUX
cblr-1707	1158	24	considered	consider	VERB
cblr-1707	1158	25	the	the	DET
cblr-1707	1158	26	six	six	NUM
cblr-1707	1158	27	statutory	statutory	ADJ
cblr-1707	1158	28	factors	factor	NOUN
cblr-1707	1158	29	for	for	ADP
cblr-1707	1158	30	each	each	DET
cblr-1707	1158	31	new	new	ADJ
cblr-1707	1158	32	bank	bank	NOUN
cblr-1707	1158	33	charter.209	charter.209	NOUN
cblr-1707	1158	34	thereafter	thereafter	ADV
cblr-1707	1158	35	,	,	PUNCT
cblr-1707	1158	36	the	the	DET
cblr-1707	1158	37	occ	occ	NOUN
cblr-1707	1158	38	no	no	ADV
cblr-1707	1158	39	longer	long	ADV
cblr-1707	1158	40	had	have	VERB
cblr-1707	1158	41	any	any	DET
cblr-1707	1158	42	statutory	statutory	ADJ
cblr-1707	1158	43	obligation	obligation	NOUN
cblr-1707	1158	44	to	to	PART
cblr-1707	1158	45	consider	consider	VERB
cblr-1707	1158	46	the	the	DET
cblr-1707	1158	47	convenience	convenience	NOUN
cblr-1707	1158	48	and	and	CCONJ
cblr-1707	1158	49	needs	need	NOUN
cblr-1707	1158	50	of	of	ADP
cblr-1707	1158	51	the	the	DET
cblr-1707	1158	52	community	community	NOUN
cblr-1707	1158	53	.	.	PUNCT
cblr-1707	1159	1	this	this	PRON
cblr-1707	1159	2	is	be	AUX
cblr-1707	1159	3	where	where	SCONJ
cblr-1707	1159	4	things	thing	NOUN
cblr-1707	1159	5	stand	stand	VERB
cblr-1707	1159	6	today	today	NOUN
cblr-1707	1159	7	.	.	PUNCT
cblr-1707	1160	1	the	the	DET
cblr-1707	1160	2	occ	occ	NOUN
cblr-1707	1160	3	’s	’s	PART
cblr-1707	1160	4	chartering	chartering	NOUN
cblr-1707	1160	5	standards	standard	NOUN
cblr-1707	1160	6	now	now	ADV
cblr-1707	1160	7	place	place	VERB
cblr-1707	1160	8	primary	primary	ADJ
cblr-1707	1160	9	emphasis	emphasis	NOUN
cblr-1707	1160	10	on	on	ADP
cblr-1707	1160	11	the	the	DET
cblr-1707	1160	12	organizing	organizing	NOUN
cblr-1707	1160	13	group	group	NOUN
cblr-1707	1160	14	and	and	CCONJ
cblr-1707	1160	15	its	its	PRON
cblr-1707	1160	16	operating	operating	NOUN
cblr-1707	1160	17	plan	plan	NOUN
cblr-1707	1160	18	;	;	PUNCT
cblr-1707	1160	19	“	"	PUNCT
cblr-1707	1160	20	convenience	convenience	NOUN
cblr-1707	1160	21	and	and	CCONJ
cblr-1707	1160	22	needs	need	NOUN
cblr-1707	1160	23	of	of	ADP
cblr-1707	1160	24	the	the	DET
cblr-1707	1160	25	community	community	NOUN
cblr-1707	1160	26	”	"	PUNCT
cblr-1707	1160	27	is	be	AUX
cblr-1707	1160	28	no	no	ADV
cblr-1707	1160	29	longer	long	ADV
cblr-1707	1160	30	a	a	DET
cblr-1707	1160	31	factor.210	factor.210	NOUN
cblr-1707	1160	32	as	as	SCONJ
cblr-1707	1160	33	the	the	DET
cblr-1707	1160	34	foregoing	forego	VERB
cblr-1707	1160	35	capsule	capsule	NOUN
cblr-1707	1160	36	history	history	NOUN
cblr-1707	1160	37	shows	show	NOUN
cblr-1707	1160	38	,	,	PUNCT
cblr-1707	1160	39	bank	bank	NOUN
cblr-1707	1160	40	chartering	chartering	NOUN
cblr-1707	1160	41	in	in	ADP
cblr-1707	1160	42	the	the	DET
cblr-1707	1160	43	united	united	PROPN
cblr-1707	1160	44	states	states	PROPN
cblr-1707	1160	45	has	have	AUX
cblr-1707	1160	46	oscillated	oscillate	VERB
cblr-1707	1160	47	between	between	ADP
cblr-1707	1160	48	the	the	DET
cblr-1707	1160	49	poles	pole	NOUN
cblr-1707	1160	50	of	of	ADP
cblr-1707	1160	51	discretion	discretion	NOUN
cblr-1707	1160	52	and	and	CCONJ
cblr-1707	1160	53	no	no	DET
cblr-1707	1160	54	discretion	discretion	NOUN
cblr-1707	1160	55	.	.	PUNCT
cblr-1707	1161	1	its	its	PRON
cblr-1707	1161	2	current	current	ADJ
cblr-1707	1161	3	resting	resting	NOUN
cblr-1707	1161	4	point	point	NOUN
cblr-1707	1161	5	—	—	PUNCT
cblr-1707	1161	6	as	as	ADP
cblr-1707	1161	7	a	a	DET
cblr-1707	1161	8	matter	matter	NOUN
cblr-1707	1161	9	of	of	ADP
cblr-1707	1161	10	both	both	CCONJ
cblr-1707	1161	11	statutory	statutory	ADJ
cblr-1707	1161	12	directive	directive	NOUN
cblr-1707	1161	13	and	and	CCONJ
cblr-1707	1161	14	agency	agency	NOUN
cblr-1707	1161	15	policy	policy	NOUN
cblr-1707	1161	16	—	—	PUNCT
cblr-1707	1161	17	is	be	AUX
cblr-1707	1161	18	on	on	ADP
cblr-1707	1161	19	the	the	DET
cblr-1707	1161	20	side	side	NOUN
cblr-1707	1161	21	of	of	ADP
cblr-1707	1161	22	no	no	DET
cblr-1707	1161	23	discretion	discretion	NOUN
cblr-1707	1161	24	.	.	PUNCT
cblr-1707	1162	1	under	under	ADP
cblr-1707	1162	2	the	the	DET
cblr-1707	1162	3	intermediation	intermediation	NOUN
cblr-1707	1162	4	paradigm	paradigm	NOUN
cblr-1707	1162	5	,	,	PUNCT
cblr-1707	1162	6	this	this	PRON
cblr-1707	1162	7	is	be	AUX
cblr-1707	1162	8	desirable	desirable	ADJ
cblr-1707	1162	9	.	.	PUNCT
cblr-1707	1163	1	competition	competition	NOUN
cblr-1707	1163	2	is	be	AUX
cblr-1707	1163	3	the	the	DET
cblr-1707	1163	4	touchstone	touchstone	NOUN
cblr-1707	1163	5	,	,	PUNCT
cblr-1707	1163	6	and	and	CCONJ
cblr-1707	1163	7	more	more	ADJ
cblr-1707	1163	8	charters	charter	NOUN
cblr-1707	1163	9	mean	mean	VERB
cblr-1707	1163	10	more	more	ADJ
cblr-1707	1163	11	competition	competition	NOUN
cblr-1707	1163	12	.	.	PUNCT
cblr-1707	1164	1	regulators	regulator	NOUN
cblr-1707	1164	2	should	should	AUX
cblr-1707	1164	3	not	not	PART
cblr-1707	1164	4	inquire	inquire	VERB
cblr-1707	1164	5	into	into	ADP
cblr-1707	1164	6	whether	whether	SCONJ
cblr-1707	1164	7	there	there	PRON
cblr-1707	1164	8	are	be	VERB
cblr-1707	1164	9	already	already	ADV
cblr-1707	1164	10	“	"	PUNCT
cblr-1707	1164	11	enough	enough	ADJ
cblr-1707	1164	12	”	"	PUNCT
cblr-1707	1164	13	banks	bank	NOUN
cblr-1707	1164	14	.	.	PUNCT
cblr-1707	1165	1	the	the	DET
cblr-1707	1165	2	decision	decision	NOUN
cblr-1707	1165	3	to	to	ADP
cblr-1707	1165	4	206	206	NUM
cblr-1707	1165	5	i	i	PRON
cblr-1707	1165	6	d.	d.	PROPN
cblr-1707	1165	7	207	207	NUM
cblr-1707	1166	1	i	i	PRON
cblr-1707	1166	2	d.	d.	PROPN
cblr-1707	1166	3	208	208	NUM
cblr-1707	1167	1	i	i	PROPN
cblr-1707	1167	2	d.	d.	PROPN
cblr-1707	1167	3	at	at	ADP
cblr-1707	1167	4	68,605	68,605	NUM
cblr-1707	1167	5	.	.	PUNCT
cblr-1707	1168	1	209	209	NUM
cblr-1707	1168	2	see	see	VERB
cblr-1707	1168	3	federal	federal	ADJ
cblr-1707	1168	4	deposit	deposit	NOUN
cblr-1707	1168	5	insurance	insurance	NOUN
cblr-1707	1168	6	corporation	corporation	PROPN
cblr-1707	1168	7	improvement	improvement	PROPN
cblr-1707	1168	8	act	act	NOUN
cblr-1707	1168	9	of	of	ADP
cblr-1707	1168	10	1991	1991	NUM
cblr-1707	1168	11	,	,	PUNCT
cblr-1707	1168	12	pub	pub	NOUN
cblr-1707	1168	13	.	.	PUNCT
cblr-1707	1169	1	l.	l.	PROPN
cblr-1707	1169	2	no	no	INTJ
cblr-1707	1169	3	.	.	PROPN
cblr-1707	1170	1	102	102	NUM
cblr-1707	1170	2	-	-	SYM
cblr-1707	1170	3	242	242	NUM
cblr-1707	1170	4	,	,	PUNCT
cblr-1707	1170	5	§	§	PROPN
cblr-1707	1170	6	115(a	115(a	NUM
cblr-1707	1170	7	)	)	PUNCT
cblr-1707	1170	8	,	,	PUNCT
cblr-1707	1170	9	105	105	NUM
cblr-1707	1170	10	stat	stat	NOUN
cblr-1707	1170	11	.	.	PUNCT
cblr-1707	1171	1	2236	2236	NUM
cblr-1707	1171	2	,	,	PUNCT
cblr-1707	1171	3	2249	2249	NUM
cblr-1707	1171	4	.	.	PUNCT
cblr-1707	1172	1	210	210	NUM
cblr-1707	1172	2	the	the	DET
cblr-1707	1172	3	occ	occ	NOUN
cblr-1707	1172	4	still	still	ADV
cblr-1707	1172	5	considers	consider	VERB
cblr-1707	1172	6	whether	whether	SCONJ
cblr-1707	1172	7	the	the	DET
cblr-1707	1172	8	bank	bank	NOUN
cblr-1707	1172	9	“	"	PUNCT
cblr-1707	1172	10	[	[	X
cblr-1707	1172	11	c]an	c]an	NOUN
cblr-1707	1172	12	reasonably	reasonably	ADV
cblr-1707	1172	13	be	be	AUX
cblr-1707	1172	14	expected	expect	VERB
cblr-1707	1172	15	to	to	PART
cblr-1707	1172	16	achieve	achieve	VERB
cblr-1707	1172	17	and	and	CCONJ
cblr-1707	1172	18	maintain	maintain	VERB
cblr-1707	1172	19	profitability”—a	profitability”—a	NOUN
cblr-1707	1172	20	much	much	ADV
cblr-1707	1172	21	more	more	ADV
cblr-1707	1172	22	permissive	permissive	ADJ
cblr-1707	1172	23	standard	standard	NOUN
cblr-1707	1172	24	.	.	PUNCT
cblr-1707	1173	1	12	12	NUM
cblr-1707	1173	2	c.f.r	c.f.r	NOUN
cblr-1707	1173	3	.	.	PUNCT
cblr-1707	1174	1	§	§	PROPN
cblr-1707	1174	2	5.20	5.20	NUM
cblr-1707	1174	3	(	(	PUNCT
cblr-1707	1174	4	2018	2018	NUM
cblr-1707	1174	5	)	)	PUNCT
cblr-1707	1174	6	.	.	PUNCT
cblr-1707	1175	1	the	the	DET
cblr-1707	1175	2	occ	occ	PROPN
cblr-1707	1175	3	“	"	PUNCT
cblr-1707	1175	4	may	may	AUX
cblr-1707	1175	5	”	"	PUNCT
cblr-1707	1175	6	also	also	ADV
cblr-1707	1175	7	consider	consider	VERB
cblr-1707	1175	8	the	the	DET
cblr-1707	1175	9	six	six	NUM
cblr-1707	1175	10	statutory	statutory	ADJ
cblr-1707	1175	11	factors	factor	NOUN
cblr-1707	1175	12	required	require	VERB
cblr-1707	1175	13	of	of	ADP
cblr-1707	1175	14	the	the	DET
cblr-1707	1175	15	fdic	fdic	PROPN
cblr-1707	1175	16	in	in	ADP
cblr-1707	1175	17	deposit	deposit	NOUN
cblr-1707	1175	18	insurance	insurance	NOUN
cblr-1707	1175	19	application	application	NOUN
cblr-1707	1175	20	decisions	decision	NOUN
cblr-1707	1175	21	,	,	PUNCT
cblr-1707	1175	22	but	but	CCONJ
cblr-1707	1175	23	the	the	DET
cblr-1707	1175	24	occ	occ	NOUN
cblr-1707	1175	25	’s	’s	PART
cblr-1707	1175	26	current	current	ADJ
cblr-1707	1175	27	licensing	licensing	NOUN
cblr-1707	1175	28	manual	manual	NOUN
cblr-1707	1175	29	omits	omit	VERB
cblr-1707	1175	30	any	any	DET
cblr-1707	1175	31	mention	mention	NOUN
cblr-1707	1175	32	of	of	ADP
cblr-1707	1175	33	convenience	convenience	NOUN
cblr-1707	1175	34	and	and	CCONJ
cblr-1707	1175	35	needs	need	NOUN
cblr-1707	1175	36	.	.	PUNCT
cblr-1707	1176	1	see	see	VERB
cblr-1707	1176	2	office	office	NOUN
cblr-1707	1176	3	of	of	ADP
cblr-1707	1176	4	the	the	DET
cblr-1707	1176	5	comptroller	comptroller	NOUN
cblr-1707	1176	6	of	of	ADP
cblr-1707	1176	7	the	the	DET
cblr-1707	1176	8	currency	currency	NOUN
cblr-1707	1176	9	,	,	PUNCT
cblr-1707	1176	10	comptroller	comptroller	NOUN
cblr-1707	1176	11	’s	’s	PART
cblr-1707	1176	12	licensing	licensing	NOUN
cblr-1707	1176	13	manual	manual	NOUN
cblr-1707	1176	14	:	:	PUNCT
cblr-1707	1176	15	charters	charter	NOUN
cblr-1707	1176	16	(	(	PUNCT
cblr-1707	1176	17	2016	2016	NUM
cblr-1707	1176	18	)	)	PUNCT
cblr-1707	1176	19	.	.	PUNCT
cblr-1707	1177	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	1177	2	no	no	NOUN
cblr-1707	1177	3	.	.	PUNCT
cblr-1707	1178	1	3:757	3:757	NUM
cblr-1707	1178	2	]	]	X
cblr-1707	1178	3	money	money	NOUN
cblr-1707	1178	4	as	as	SCONJ
cblr-1707	1178	5	infrastructure	infrastructure	NOUN
cblr-1707	1178	6	821	821	NUM
cblr-1707	1178	7	establish	establish	VERB
cblr-1707	1178	8	a	a	DET
cblr-1707	1178	9	bank	bank	NOUN
cblr-1707	1178	10	,	,	PUNCT
cblr-1707	1178	11	like	like	ADP
cblr-1707	1178	12	the	the	DET
cblr-1707	1178	13	decision	decision	NOUN
cblr-1707	1178	14	to	to	PART
cblr-1707	1178	15	establish	establish	VERB
cblr-1707	1178	16	a	a	DET
cblr-1707	1178	17	supermarket	supermarket	NOUN
cblr-1707	1178	18	or	or	CCONJ
cblr-1707	1178	19	dry	dry	ADJ
cblr-1707	1178	20	cleaning	cleaning	NOUN
cblr-1707	1178	21	business	business	NOUN
cblr-1707	1178	22	,	,	PUNCT
cblr-1707	1178	23	should	should	AUX
cblr-1707	1178	24	be	be	AUX
cblr-1707	1178	25	left	leave	VERB
cblr-1707	1178	26	to	to	ADP
cblr-1707	1178	27	“	"	PUNCT
cblr-1707	1178	28	market	market	NOUN
cblr-1707	1178	29	”	"	PUNCT
cblr-1707	1178	30	forces	force	NOUN
cblr-1707	1178	31	.	.	PUNCT
cblr-1707	1179	1	as	as	SCONJ
cblr-1707	1179	2	will	will	AUX
cblr-1707	1179	3	now	now	ADV
cblr-1707	1179	4	become	become	VERB
cblr-1707	1179	5	apparent	apparent	ADJ
cblr-1707	1179	6	,	,	PUNCT
cblr-1707	1179	7	the	the	DET
cblr-1707	1179	8	money	money	NOUN
cblr-1707	1179	9	paradigm	paradigm	NOUN
cblr-1707	1179	10	sees	see	VERB
cblr-1707	1179	11	things	thing	NOUN
cblr-1707	1179	12	very	very	ADV
cblr-1707	1179	13	differently	differently	ADV
cblr-1707	1179	14	.	.	PUNCT
cblr-1707	1180	1	c.	c.	PROPN
cblr-1707	1181	1	an	an	DET
cblr-1707	1181	2	infrastructure	infrastructure	NOUN
cblr-1707	1181	3	perspective	perspective	NOUN
cblr-1707	1181	4	as	as	SCONJ
cblr-1707	1181	5	noted	note	VERB
cblr-1707	1181	6	above	above	ADV
cblr-1707	1181	7	,	,	PUNCT
cblr-1707	1181	8	the	the	DET
cblr-1707	1181	9	system	system	NOUN
cblr-1707	1181	10	of	of	ADP
cblr-1707	1181	11	rate	rate	NOUN
cblr-1707	1181	12	regulation	regulation	NOUN
cblr-1707	1181	13	described	describe	VERB
cblr-1707	1181	14	in	in	ADP
cblr-1707	1181	15	part	part	NOUN
cblr-1707	1181	16	ii	ii	PROPN
cblr-1707	1181	17	would	would	AUX
cblr-1707	1181	18	require	require	VERB
cblr-1707	1181	19	effective	effective	ADJ
cblr-1707	1181	20	entry	entry	NOUN
cblr-1707	1181	21	restriction	restriction	NOUN
cblr-1707	1181	22	into	into	ADP
cblr-1707	1181	23	“	"	PUNCT
cblr-1707	1181	24	money	money	NOUN
cblr-1707	1181	25	”	"	PUNCT
cblr-1707	1181	26	creation	creation	NOUN
cblr-1707	1181	27	,	,	PUNCT
cblr-1707	1181	28	functionally	functionally	ADV
cblr-1707	1181	29	defined	define	VERB
cblr-1707	1181	30	.	.	PUNCT
cblr-1707	1182	1	this	this	DET
cblr-1707	1182	2	section	section	NOUN
cblr-1707	1182	3	assumes	assume	VERB
cblr-1707	1182	4	that	that	SCONJ
cblr-1707	1182	5	this	this	PRON
cblr-1707	1182	6	is	be	AUX
cblr-1707	1182	7	both	both	CCONJ
cblr-1707	1182	8	feasible	feasible	ADJ
cblr-1707	1182	9	and	and	CCONJ
cblr-1707	1182	10	desirable	desirable	ADJ
cblr-1707	1182	11	.	.	PUNCT
cblr-1707	1183	1	once	once	SCONJ
cblr-1707	1183	2	entry	entry	NOUN
cblr-1707	1183	3	is	be	AUX
cblr-1707	1183	4	restricted	restrict	VERB
cblr-1707	1183	5	,	,	PUNCT
cblr-1707	1183	6	only	only	ADV
cblr-1707	1183	7	the	the	DET
cblr-1707	1183	8	government	government	NOUN
cblr-1707	1183	9	itself	itself	PRON
cblr-1707	1183	10	and	and	CCONJ
cblr-1707	1183	11	its	its	PRON
cblr-1707	1183	12	franchisees	franchisee	NOUN
cblr-1707	1183	13	(	(	PUNCT
cblr-1707	1183	14	if	if	SCONJ
cblr-1707	1183	15	any	any	PRON
cblr-1707	1183	16	)	)	PUNCT
cblr-1707	1183	17	may	may	AUX
cblr-1707	1183	18	create	create	VERB
cblr-1707	1183	19	money	money	NOUN
cblr-1707	1183	20	.	.	PUNCT
cblr-1707	1184	1	but	but	CCONJ
cblr-1707	1184	2	how	how	SCONJ
cblr-1707	1184	3	should	should	AUX
cblr-1707	1184	4	the	the	DET
cblr-1707	1184	5	government	government	NOUN
cblr-1707	1184	6	decide	decide	VERB
cblr-1707	1184	7	whether	whether	SCONJ
cblr-1707	1184	8	to	to	PART
cblr-1707	1184	9	outsource	outsource	VERB
cblr-1707	1184	10	to	to	ADP
cblr-1707	1184	11	franchisees	franchisee	NOUN
cblr-1707	1184	12	in	in	ADP
cblr-1707	1184	13	the	the	DET
cblr-1707	1184	14	first	first	ADJ
cblr-1707	1184	15	place	place	NOUN
cblr-1707	1184	16	?	?	PUNCT
cblr-1707	1185	1	and	and	CCONJ
cblr-1707	1185	2	if	if	SCONJ
cblr-1707	1185	3	it	it	PRON
cblr-1707	1185	4	decides	decide	VERB
cblr-1707	1185	5	to	to	PART
cblr-1707	1185	6	outsource	outsource	VERB
cblr-1707	1185	7	,	,	PUNCT
cblr-1707	1185	8	how	how	SCONJ
cblr-1707	1185	9	many	many	ADJ
cblr-1707	1185	10	franchisees	franchisee	NOUN
cblr-1707	1185	11	should	should	AUX
cblr-1707	1185	12	be	be	AUX
cblr-1707	1185	13	selected	select	VERB
cblr-1707	1185	14	,	,	PUNCT
cblr-1707	1185	15	and	and	CCONJ
cblr-1707	1185	16	what	what	PRON
cblr-1707	1185	17	should	should	AUX
cblr-1707	1185	18	be	be	AUX
cblr-1707	1185	19	the	the	DET
cblr-1707	1185	20	criteria	criterion	NOUN
cblr-1707	1185	21	for	for	ADP
cblr-1707	1185	22	selection	selection	NOUN
cblr-1707	1185	23	?	?	PUNCT
cblr-1707	1186	1	put	put	VERB
cblr-1707	1186	2	differently	differently	ADV
cblr-1707	1186	3	:	:	PUNCT
cblr-1707	1186	4	how	how	SCONJ
cblr-1707	1186	5	should	should	AUX
cblr-1707	1186	6	regulators	regulator	NOUN
cblr-1707	1186	7	exercise	exercise	VERB
cblr-1707	1186	8	discretion	discretion	NOUN
cblr-1707	1186	9	in	in	ADP
cblr-1707	1186	10	bank	bank	NOUN
cblr-1707	1186	11	chartering	chartering	NOUN
cblr-1707	1186	12	?	?	PUNCT
cblr-1707	1187	1	to	to	PART
cblr-1707	1187	2	get	get	VERB
cblr-1707	1187	3	at	at	ADP
cblr-1707	1187	4	these	these	DET
cblr-1707	1187	5	questions	question	NOUN
cblr-1707	1187	6	,	,	PUNCT
cblr-1707	1187	7	it	it	PRON
cblr-1707	1187	8	is	be	AUX
cblr-1707	1187	9	useful	useful	ADJ
cblr-1707	1187	10	first	first	ADV
cblr-1707	1187	11	to	to	PART
cblr-1707	1187	12	consider	consider	VERB
cblr-1707	1187	13	the	the	DET
cblr-1707	1187	14	fully	fully	ADV
cblr-1707	1187	15	insourced	insourced	ADJ
cblr-1707	1187	16	setting	setting	NOUN
cblr-1707	1187	17	that	that	SCONJ
cblr-1707	1187	18	we	we	PRON
cblr-1707	1187	19	envisioned	envision	VERB
cblr-1707	1187	20	in	in	ADP
cblr-1707	1187	21	part	part	PROPN
cblr-1707	1187	22	ii	ii	PROPN
cblr-1707	1187	23	,	,	PUNCT
cblr-1707	1187	24	in	in	ADP
cblr-1707	1187	25	which	which	PRON
cblr-1707	1187	26	everyone	everyone	PRON
cblr-1707	1187	27	holds	hold	VERB
cblr-1707	1187	28	his	his	PRON
cblr-1707	1187	29	or	or	CCONJ
cblr-1707	1187	30	her	her	PRON
cblr-1707	1187	31	transaction	transaction	NOUN
cblr-1707	1187	32	account	account	VERB
cblr-1707	1187	33	directly	directly	ADV
cblr-1707	1187	34	with	with	ADP
cblr-1707	1187	35	the	the	DET
cblr-1707	1187	36	central	central	ADJ
cblr-1707	1187	37	bank	bank	NOUN
cblr-1707	1187	38	and	and	CCONJ
cblr-1707	1187	39	no	no	DET
cblr-1707	1187	40	private	private	ADJ
cblr-1707	1187	41	firms	firm	NOUN
cblr-1707	1187	42	offer	offer	VERB
cblr-1707	1187	43	account	account	NOUN
cblr-1707	1187	44	money	money	NOUN
cblr-1707	1187	45	or	or	CCONJ
cblr-1707	1187	46	close	close	ADJ
cblr-1707	1187	47	substitutes	substitute	NOUN
cblr-1707	1187	48	therefor	therefor	ADV
cblr-1707	1187	49	.	.	PUNCT
cblr-1707	1188	1	in	in	ADP
cblr-1707	1188	2	the	the	DET
cblr-1707	1188	3	money	money	NOUN
cblr-1707	1188	4	paradigm	paradigm	NOUN
cblr-1707	1188	5	,	,	PUNCT
cblr-1707	1188	6	this	this	PRON
cblr-1707	1188	7	is	be	AUX
cblr-1707	1188	8	the	the	DET
cblr-1707	1188	9	institutional	institutional	ADJ
cblr-1707	1188	10	baseline	baseline	NOUN
cblr-1707	1188	11	—	—	PUNCT
cblr-1707	1188	12	it	it	PRON
cblr-1707	1188	13	is	be	AUX
cblr-1707	1188	14	the	the	DET
cblr-1707	1188	15	natural	natural	ADJ
cblr-1707	1188	16	starting	starting	NOUN
cblr-1707	1188	17	point	point	NOUN
cblr-1707	1188	18	for	for	ADP
cblr-1707	1188	19	analysis	analysis	NOUN
cblr-1707	1188	20	.	.	PUNCT
cblr-1707	1189	1	the	the	DET
cblr-1707	1189	2	government	government	NOUN
cblr-1707	1189	3	monopolizes	monopolize	VERB
cblr-1707	1189	4	(	(	PUNCT
cblr-1707	1189	5	dollar	dollar	NOUN
cblr-1707	1189	6	-	-	PUNCT
cblr-1707	1189	7	denominated	denominate	VERB
cblr-1707	1189	8	)	)	PUNCT
cblr-1707	1189	9	money	money	NOUN
cblr-1707	1189	10	creation.211	creation.211	NOUN
cblr-1707	1189	11	the	the	DET
cblr-1707	1189	12	first	first	ADJ
cblr-1707	1189	13	question	question	NOUN
cblr-1707	1189	14	is	be	AUX
cblr-1707	1189	15	whether	whether	SCONJ
cblr-1707	1189	16	to	to	PART
cblr-1707	1189	17	outsource	outsource	VERB
cblr-1707	1189	18	at	at	ADV
cblr-1707	1189	19	all	all	ADV
cblr-1707	1189	20	.	.	PUNCT
cblr-1707	1190	1	we	we	PRON
cblr-1707	1190	2	can	can	AUX
cblr-1707	1190	3	break	break	VERB
cblr-1707	1190	4	down	down	ADP
cblr-1707	1190	5	this	this	DET
cblr-1707	1190	6	question	question	NOUN
cblr-1707	1190	7	by	by	ADP
cblr-1707	1190	8	examining	examine	VERB
cblr-1707	1190	9	the	the	DET
cblr-1707	1190	10	activities	activity	NOUN
cblr-1707	1190	11	reflected	reflect	VERB
cblr-1707	1190	12	by	by	ADP
cblr-1707	1190	13	the	the	DET
cblr-1707	1190	14	right	right	ADJ
cblr-1707	1190	15	side	side	NOUN
cblr-1707	1190	16	of	of	ADP
cblr-1707	1190	17	the	the	DET
cblr-1707	1190	18	central	central	PROPN
cblr-1707	1190	19	bank	bank	NOUN
cblr-1707	1190	20	’s	’s	PART
cblr-1707	1190	21	balance	balance	NOUN
cblr-1707	1190	22	sheet	sheet	NOUN
cblr-1707	1190	23	(	(	PUNCT
cblr-1707	1190	24	account	account	NOUN
cblr-1707	1190	25	money	money	NOUN
cblr-1707	1190	26	and	and	CCONJ
cblr-1707	1190	27	,	,	PUNCT
cblr-1707	1190	28	if	if	SCONJ
cblr-1707	1190	29	desired	desire	VERB
cblr-1707	1190	30	,	,	PUNCT
cblr-1707	1190	31	paper	paper	NOUN
cblr-1707	1190	32	money	money	NOUN
cblr-1707	1190	33	)	)	PUNCT
cblr-1707	1190	34	and	and	CCONJ
cblr-1707	1190	35	the	the	DET
cblr-1707	1190	36	left	left	ADJ
cblr-1707	1190	37	side	side	NOUN
cblr-1707	1190	38	(	(	PUNCT
cblr-1707	1190	39	investment	investment	NOUN
cblr-1707	1190	40	assets	asset	NOUN
cblr-1707	1190	41	)	)	PUNCT
cblr-1707	1190	42	.	.	PUNCT
cblr-1707	1191	1	starting	start	VERB
cblr-1707	1191	2	with	with	ADP
cblr-1707	1191	3	the	the	DET
cblr-1707	1191	4	right	right	ADJ
cblr-1707	1191	5	side	side	NOUN
cblr-1707	1191	6	,	,	PUNCT
cblr-1707	1191	7	there	there	PRON
cblr-1707	1191	8	are	be	VERB
cblr-1707	1191	9	two	two	NUM
cblr-1707	1191	10	basic	basic	ADJ
cblr-1707	1191	11	functions	function	NOUN
cblr-1707	1191	12	:	:	PUNCT
cblr-1707	1191	13	processing	process	VERB
cblr-1707	1191	14	account	account	NOUN
cblr-1707	1191	15	-	-	PUNCT
cblr-1707	1191	16	money	money	NOUN
cblr-1707	1191	17	payments	payment	NOUN
cblr-1707	1191	18	among	among	ADP
cblr-1707	1191	19	users	user	NOUN
cblr-1707	1191	20	,	,	PUNCT
cblr-1707	1191	21	and	and	CCONJ
cblr-1707	1191	22	printing	print	VERB
cblr-1707	1191	23	and	and	CCONJ
cblr-1707	1191	24	distributing	distribute	VERB
cblr-1707	1191	25	paper	paper	NOUN
cblr-1707	1191	26	money	money	NOUN
cblr-1707	1191	27	.	.	PUNCT
cblr-1707	1192	1	there	there	PRON
cblr-1707	1192	2	are	be	VERB
cblr-1707	1192	3	no	no	DET
cblr-1707	1192	4	obvious	obvious	ADJ
cblr-1707	1192	5	reasons	reason	NOUN
cblr-1707	1192	6	to	to	PART
cblr-1707	1192	7	outsource	outsource	VERB
cblr-1707	1192	8	these	these	DET
cblr-1707	1192	9	routinized	routinized	ADJ
cblr-1707	1192	10	,	,	PUNCT
cblr-1707	1192	11	ministerial	ministerial	ADJ
cblr-1707	1192	12	,	,	PUNCT
cblr-1707	1192	13	211	211	NUM
cblr-1707	1192	14	lest	lest	SCONJ
cblr-1707	1192	15	this	this	PRON
cblr-1707	1192	16	seem	seem	VERB
cblr-1707	1192	17	farfetched	farfetched	ADJ
cblr-1707	1192	18	,	,	PUNCT
cblr-1707	1192	19	note	note	VERB
cblr-1707	1192	20	that	that	SCONJ
cblr-1707	1192	21	one	one	NUM
cblr-1707	1192	22	version	version	NOUN
cblr-1707	1192	23	of	of	ADP
cblr-1707	1192	24	this	this	DET
cblr-1707	1192	25	approach	approach	NOUN
cblr-1707	1192	26	,	,	PUNCT
cblr-1707	1192	27	called	call	VERB
cblr-1707	1192	28	“	"	PUNCT
cblr-1707	1192	29	full	full	ADJ
cblr-1707	1192	30	reserve	reserve	NOUN
cblr-1707	1192	31	banking	banking	NOUN
cblr-1707	1192	32	,	,	PUNCT
cblr-1707	1192	33	”	"	PUNCT
cblr-1707	1192	34	has	have	VERB
cblr-1707	1192	35	a	a	DET
cblr-1707	1192	36	very	very	ADV
cblr-1707	1192	37	distinguished	distinguished	ADJ
cblr-1707	1192	38	intellectual	intellectual	ADJ
cblr-1707	1192	39	lineage	lineage	NOUN
cblr-1707	1192	40	.	.	PUNCT
cblr-1707	1193	1	see	see	VERB
cblr-1707	1193	2	generally	generally	ADV
cblr-1707	1193	3	irving	irving	PROPN
cblr-1707	1193	4	fisher	fisher	PROPN
cblr-1707	1193	5	,	,	PUNCT
cblr-1707	1193	6	100	100	NUM
cblr-1707	1193	7	%	%	NOUN
cblr-1707	1193	8	money	money	NOUN
cblr-1707	1193	9	(	(	PUNCT
cblr-1707	1193	10	3d	3d	NUM
cblr-1707	1193	11	ed	ed	NOUN
cblr-1707	1193	12	.	.	PROPN
cblr-1707	1193	13	1945	1945	NUM
cblr-1707	1193	14	)	)	PUNCT
cblr-1707	1193	15	;	;	PUNCT
cblr-1707	1193	16	milton	milton	PROPN
cblr-1707	1193	17	friedman	friedman	PROPN
cblr-1707	1193	18	,	,	PUNCT
cblr-1707	1193	19	a	a	DET
cblr-1707	1193	20	program	program	NOUN
cblr-1707	1193	21	for	for	ADP
cblr-1707	1193	22	monetary	monetary	ADJ
cblr-1707	1193	23	stability	stability	NOUN
cblr-1707	1193	24	65–76	65–76	NUM
cblr-1707	1193	25	(	(	PUNCT
cblr-1707	1193	26	fordham	fordham	PROPN
cblr-1707	1193	27	u.	u.	PROPN
cblr-1707	1193	28	press	press	PROPN
cblr-1707	1193	29	,	,	PUNCT
cblr-1707	1193	30	1992	1992	NUM
cblr-1707	1193	31	)	)	PUNCT
cblr-1707	1193	32	(	(	PUNCT
cblr-1707	1193	33	1959	1959	NUM
cblr-1707	1193	34	)	)	PUNCT
cblr-1707	1193	35	;	;	PUNCT
cblr-1707	1193	36	henry	henry	PROPN
cblr-1707	1193	37	c.	c.	PROPN
cblr-1707	1193	38	simons	simons	PROPN
cblr-1707	1193	39	,	,	PUNCT
cblr-1707	1193	40	economic	economic	ADJ
cblr-1707	1193	41	policy	policy	NOUN
cblr-1707	1193	42	for	for	ADP
cblr-1707	1193	43	a	a	DET
cblr-1707	1193	44	free	free	ADJ
cblr-1707	1193	45	society	society	NOUN
cblr-1707	1193	46	62–65	62–65	NUM
cblr-1707	1193	47	(	(	PUNCT
cblr-1707	1193	48	1948	1948	NUM
cblr-1707	1193	49	)	)	PUNCT
cblr-1707	1193	50	.	.	PUNCT
cblr-1707	1194	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	1194	2	822	822	NUM
cblr-1707	1194	3	columbia	columbia	PROPN
cblr-1707	1194	4	business	business	NOUN
cblr-1707	1194	5	law	law	PROPN
cblr-1707	1194	6	review	review	NOUN
cblr-1707	1194	7	[	[	X
cblr-1707	1194	8	vol	vol	NOUN
cblr-1707	1194	9	.	.	NOUN
cblr-1707	1194	10	2018	2018	NUM
cblr-1707	1194	11	processing	processing	NOUN
cblr-1707	1194	12	functions	function	NOUN
cblr-1707	1194	13	.	.	PUNCT
cblr-1707	1195	1	the	the	DET
cblr-1707	1195	2	u.s	u.s	PROPN
cblr-1707	1195	3	.	.	PROPN
cblr-1707	1195	4	government	government	NOUN
cblr-1707	1195	5	,	,	PUNCT
cblr-1707	1195	6	like	like	ADP
cblr-1707	1195	7	other	other	ADJ
cblr-1707	1195	8	national	national	ADJ
cblr-1707	1195	9	governments	government	NOUN
cblr-1707	1195	10	,	,	PUNCT
cblr-1707	1195	11	already	already	ADV
cblr-1707	1195	12	prints	print	NOUN
cblr-1707	1195	13	and	and	CCONJ
cblr-1707	1195	14	distributes	distribute	VERB
cblr-1707	1195	15	paper	paper	NOUN
cblr-1707	1195	16	money	money	NOUN
cblr-1707	1195	17	and	and	CCONJ
cblr-1707	1195	18	enforces	enforce	VERB
cblr-1707	1195	19	anti	anti	ADJ
cblr-1707	1195	20	-	-	ADJ
cblr-1707	1195	21	counterfeiting	counterfeiting	ADJ
cblr-1707	1195	22	laws	law	NOUN
cblr-1707	1195	23	.	.	PUNCT
cblr-1707	1196	1	these	these	PRON
cblr-1707	1196	2	are	be	AUX
cblr-1707	1196	3	basic	basic	ADJ
cblr-1707	1196	4	prerequisites	prerequisite	NOUN
cblr-1707	1196	5	for	for	ADP
cblr-1707	1196	6	modern	modern	ADJ
cblr-1707	1196	7	fiat	fiat	NOUN
cblr-1707	1196	8	money	money	NOUN
cblr-1707	1196	9	systems	system	NOUN
cblr-1707	1196	10	.	.	PUNCT
cblr-1707	1197	1	the	the	DET
cblr-1707	1197	2	federal	federal	PROPN
cblr-1707	1197	3	reserve	reserve	PROPN
cblr-1707	1197	4	,	,	PUNCT
cblr-1707	1197	5	like	like	ADP
cblr-1707	1197	6	other	other	ADJ
cblr-1707	1197	7	modern	modern	ADJ
cblr-1707	1197	8	central	central	ADJ
cblr-1707	1197	9	banks	bank	NOUN
cblr-1707	1197	10	,	,	PUNCT
cblr-1707	1197	11	also	also	ADV
cblr-1707	1197	12	processes	process	VERB
cblr-1707	1197	13	account	account	NOUN
cblr-1707	1197	14	-	-	PUNCT
cblr-1707	1197	15	money	money	NOUN
cblr-1707	1197	16	payments	payment	NOUN
cblr-1707	1197	17	among	among	ADP
cblr-1707	1197	18	banks	bank	NOUN
cblr-1707	1197	19	through	through	ADP
cblr-1707	1197	20	its	its	PRON
cblr-1707	1197	21	fedwire	fedwire	NOUN
cblr-1707	1197	22	system.212	system.212	PROPN
cblr-1707	1197	23	a	a	DET
cblr-1707	1197	24	fully	fully	ADV
cblr-1707	1197	25	insourced	insource	VERB
cblr-1707	1197	26	account	account	NOUN
cblr-1707	1197	27	-	-	PUNCT
cblr-1707	1197	28	money	money	NOUN
cblr-1707	1197	29	system	system	NOUN
cblr-1707	1197	30	would	would	AUX
cblr-1707	1197	31	mean	mean	VERB
cblr-1707	1197	32	doing	do	VERB
cblr-1707	1197	33	this	this	PRON
cblr-1707	1197	34	on	on	ADP
cblr-1707	1197	35	a	a	DET
cblr-1707	1197	36	much	much	ADV
cblr-1707	1197	37	larger	large	ADJ
cblr-1707	1197	38	scale	scale	NOUN
cblr-1707	1197	39	,	,	PUNCT
cblr-1707	1197	40	but	but	CCONJ
cblr-1707	1197	41	the	the	DET
cblr-1707	1197	42	basic	basic	ADJ
cblr-1707	1197	43	function	function	NOUN
cblr-1707	1197	44	—	—	PUNCT
cblr-1707	1197	45	processing	processing	NOUN
cblr-1707	1197	46	debits	debit	NOUN
cblr-1707	1197	47	and	and	CCONJ
cblr-1707	1197	48	credits	credit	NOUN
cblr-1707	1197	49	in	in	ADP
cblr-1707	1197	50	a	a	DET
cblr-1707	1197	51	ledger	ledger	NOUN
cblr-1707	1197	52	—	—	PUNCT
cblr-1707	1197	53	is	be	AUX
cblr-1707	1197	54	the	the	DET
cblr-1707	1197	55	same	same	ADJ
cblr-1707	1197	56	.	.	PUNCT
cblr-1707	1198	1	these	these	DET
cblr-1707	1198	2	functions	function	NOUN
cblr-1707	1198	3	are	be	AUX
cblr-1707	1198	4	not	not	PART
cblr-1707	1198	5	obvious	obvious	ADJ
cblr-1707	1198	6	candidates	candidate	NOUN
cblr-1707	1198	7	for	for	ADP
cblr-1707	1198	8	any	any	DET
cblr-1707	1198	9	kind	kind	NOUN
cblr-1707	1198	10	of	of	ADP
cblr-1707	1198	11	franchising.213	franchising.213	NOUN
cblr-1707	1198	12	in	in	ADP
cblr-1707	1198	13	fact	fact	NOUN
cblr-1707	1198	14	,	,	PUNCT
cblr-1707	1198	15	outsourcing	outsource	VERB
cblr-1707	1198	16	the	the	DET
cblr-1707	1198	17	account	account	NOUN
cblr-1707	1198	18	-	-	PUNCT
cblr-1707	1198	19	money	money	NOUN
cblr-1707	1198	20	system	system	NOUN
cblr-1707	1198	21	may	may	AUX
cblr-1707	1198	22	be	be	AUX
cblr-1707	1198	23	a	a	DET
cblr-1707	1198	24	recipe	recipe	NOUN
cblr-1707	1198	25	for	for	ADP
cblr-1707	1198	26	problems	problem	NOUN
cblr-1707	1198	27	.	.	PUNCT
cblr-1707	1199	1	a	a	DET
cblr-1707	1199	2	general	general	ADJ
cblr-1707	1199	3	payment	payment	NOUN
cblr-1707	1199	4	system	system	NOUN
cblr-1707	1199	5	must	must	AUX
cblr-1707	1199	6	operate	operate	VERB
cblr-1707	1199	7	as	as	ADP
cblr-1707	1199	8	a	a	DET
cblr-1707	1199	9	system	system	NOUN
cblr-1707	1199	10	,	,	PUNCT
cblr-1707	1199	11	which	which	PRON
cblr-1707	1199	12	means	mean	VERB
cblr-1707	1199	13	that	that	SCONJ
cblr-1707	1199	14	horizontal	horizontal	ADJ
cblr-1707	1199	15	interconnections	interconnection	NOUN
cblr-1707	1199	16	among	among	ADP
cblr-1707	1199	17	resource	resource	NOUN
cblr-1707	1199	18	providers	provider	NOUN
cblr-1707	1199	19	are	be	AUX
cblr-1707	1199	20	essential	essential	ADJ
cblr-1707	1199	21	.	.	PUNCT
cblr-1707	1200	1	the	the	DET
cblr-1707	1200	2	histories	history	NOUN
cblr-1707	1200	3	of	of	ADP
cblr-1707	1200	4	bank	bank	PROPN
cblr-1707	1200	5	clearinghouses214	clearinghouses214	PROPN
cblr-1707	1200	6	and	and	CCONJ
cblr-1707	1200	7	the	the	DET
cblr-1707	1200	8	federal	federal	PROPN
cblr-1707	1200	9	reserve	reserve	PROPN
cblr-1707	1200	10	’s	’s	PART
cblr-1707	1200	11	decades	decade	NOUN
cblr-1707	1200	12	-	-	PUNCT
cblr-1707	1200	13	long	long	ADJ
cblr-1707	1200	14	efforts	effort	NOUN
cblr-1707	1200	15	to	to	PART
cblr-1707	1200	16	enforce	enforce	VERB
cblr-1707	1200	17	“	"	PUNCT
cblr-1707	1200	18	par	par	ADJ
cblr-1707	1200	19	”	"	PUNCT
cblr-1707	1200	20	check	check	NOUN
cblr-1707	1200	21	clearing	clearing	NOUN
cblr-1707	1200	22	on	on	ADP
cblr-1707	1200	23	u.s	u.s	PROPN
cblr-1707	1200	24	.	.	PROPN
cblr-1707	1200	25	banks215	banks215	PROPN
cblr-1707	1200	26	illustrate	illustrate	VERB
cblr-1707	1200	27	the	the	DET
cblr-1707	1200	28	degree	degree	NOUN
cblr-1707	1200	29	to	to	PART
cblr-1707	1200	30	which	which	PRON
cblr-1707	1200	31	account	account	NOUN
cblr-1707	1200	32	-	-	PUNCT
cblr-1707	1200	33	money	money	NOUN
cblr-1707	1200	34	services	service	NOUN
cblr-1707	1200	35	necessarily	necessarily	ADV
cblr-1707	1200	36	involve	involve	VERB
cblr-1707	1200	37	extensive	extensive	ADJ
cblr-1707	1200	38	horizontal	horizontal	ADJ
cblr-1707	1200	39	coordination	coordination	NOUN
cblr-1707	1200	40	and	and	CCONJ
cblr-1707	1200	41	interconnection.216	interconnection.216	VERB
cblr-1707	1200	42	fragmentation	fragmentation	NOUN
cblr-1707	1200	43	impedes	impede	VERB
cblr-1707	1200	44	the	the	DET
cblr-1707	1200	45	accountmoney	accountmoney	NOUN
cblr-1707	1200	46	system	system	NOUN
cblr-1707	1200	47	’s	’s	PART
cblr-1707	1200	48	functioning	function	VERB
cblr-1707	1200	49	.	.	PUNCT
cblr-1707	1201	1	for	for	ADP
cblr-1707	1201	2	a	a	DET
cblr-1707	1201	3	vivid	vivid	ADJ
cblr-1707	1201	4	illustration	illustration	NOUN
cblr-1707	1201	5	,	,	PUNCT
cblr-1707	1201	6	consider	consider	VERB
cblr-1707	1201	7	the	the	DET
cblr-1707	1201	8	fact	fact	NOUN
cblr-1707	1201	9	that	that	SCONJ
cblr-1707	1201	10	bank	bank	NOUN
cblr-1707	1201	11	-	-	PUNCT
cblr-1707	1201	12	based	base	VERB
cblr-1707	1201	13	payments	payment	NOUN
cblr-1707	1201	14	often	often	ADV
cblr-1707	1201	15	take	take	VERB
cblr-1707	1201	16	days	day	NOUN
cblr-1707	1201	17	to	to	PART
cblr-1707	1201	18	clear	clear	VERB
cblr-1707	1201	19	in	in	ADP
cblr-1707	1201	20	the	the	DET
cblr-1707	1201	21	united	united	PROPN
cblr-1707	1201	22	states	states	PROPN
cblr-1707	1201	23	whereas	whereas	SCONJ
cblr-1707	1201	24	in	in	ADP
cblr-1707	1201	25	many	many	ADJ
cblr-1707	1201	26	other	other	ADJ
cblr-1707	1201	27	countries	country	NOUN
cblr-1707	1201	28	,	,	PUNCT
cblr-1707	1201	29	such	such	ADJ
cblr-1707	1201	30	as	as	ADP
cblr-1707	1201	31	the	the	DET
cblr-1707	1201	32	united	united	ADJ
cblr-1707	1201	33	kingdom	kingdom	PROPN
cblr-1707	1201	34	,	,	PUNCT
cblr-1707	1201	35	they	they	PRON
cblr-1707	1201	36	clear	clear	VERB
cblr-1707	1201	37	virtually	virtually	ADV
cblr-1707	1201	38	instantly.217	instantly.217	VERB
cblr-1707	1201	39	the	the	DET
cblr-1707	1201	40	principal	principal	ADJ
cblr-1707	1201	41	reason	reason	NOUN
cblr-1707	1201	42	is	be	AUX
cblr-1707	1201	43	that	that	SCONJ
cblr-1707	1201	44	the	the	DET
cblr-1707	1201	45	u.s	u.s	PROPN
cblr-1707	1201	46	.	.	PROPN
cblr-1707	1201	47	banking	banking	NOUN
cblr-1707	1201	48	system	system	NOUN
cblr-1707	1201	49	is	be	AUX
cblr-1707	1201	50	orders	order	NOUN
cblr-1707	1201	51	of	of	ADP
cblr-1707	1201	52	212	212	NUM
cblr-1707	1201	53	see	see	NOUN
cblr-1707	1201	54	fed	fed	PROPN
cblr-1707	1201	55	.	.	PUNCT
cblr-1707	1202	1	reserve	reserve	PROPN
cblr-1707	1202	2	,	,	PUNCT
cblr-1707	1202	3	supra	supra	PROPN
cblr-1707	1202	4	note	note	NOUN
cblr-1707	1202	5	48	48	NUM
cblr-1707	1202	6	,	,	PUNCT
cblr-1707	1202	7	at	at	ADP
cblr-1707	1202	8	122–24	122–24	PROPN
cblr-1707	1202	9	.	.	PUNCT
cblr-1707	1203	1	213	213	NUM
cblr-1707	1203	2	civil	civil	ADJ
cblr-1707	1203	3	liberty	liberty	NOUN
cblr-1707	1203	4	and	and	CCONJ
cblr-1707	1203	5	privacy	privacy	NOUN
cblr-1707	1203	6	concerns	concern	NOUN
cblr-1707	1203	7	may	may	AUX
cblr-1707	1203	8	weigh	weigh	VERB
cblr-1707	1203	9	in	in	ADP
cblr-1707	1203	10	favor	favor	NOUN
cblr-1707	1203	11	of	of	ADP
cblr-1707	1203	12	outsourcing	outsourcing	NOUN
cblr-1707	1203	13	,	,	PUNCT
cblr-1707	1203	14	but	but	CCONJ
cblr-1707	1203	15	as	as	SCONJ
cblr-1707	1203	16	shown	show	VERB
cblr-1707	1203	17	by	by	ADP
cblr-1707	1203	18	extensive	extensive	ADJ
cblr-1707	1203	19	u.s	u.s	PROPN
cblr-1707	1203	20	.	.	PROPN
cblr-1707	1203	21	anti	anti	ADJ
cblr-1707	1203	22	-	-	ADJ
cblr-1707	1203	23	money	money	ADJ
cblr-1707	1203	24	laundering	laundering	NOUN
cblr-1707	1203	25	rules	rule	NOUN
cblr-1707	1203	26	,	,	PUNCT
cblr-1707	1203	27	banks	bank	NOUN
cblr-1707	1203	28	may	may	AUX
cblr-1707	1203	29	be	be	AUX
cblr-1707	1203	30	enlisted	enlist	VERB
cblr-1707	1203	31	in	in	ADP
cblr-1707	1203	32	law	law	NOUN
cblr-1707	1203	33	enforcement	enforcement	NOUN
cblr-1707	1203	34	notwithstanding	notwithstanding	ADP
cblr-1707	1203	35	.	.	PUNCT
cblr-1707	1204	1	214	214	NUM
cblr-1707	1204	2	see	see	VERB
cblr-1707	1204	3	gary	gary	PROPN
cblr-1707	1204	4	gorton	gorton	PROPN
cblr-1707	1204	5	,	,	PUNCT
cblr-1707	1204	6	clearinghouses	clearinghouse	NOUN
cblr-1707	1204	7	and	and	CCONJ
cblr-1707	1204	8	the	the	DET
cblr-1707	1204	9	origin	origin	NOUN
cblr-1707	1204	10	of	of	ADP
cblr-1707	1204	11	central	central	ADJ
cblr-1707	1204	12	banking	banking	NOUN
cblr-1707	1204	13	in	in	ADP
cblr-1707	1204	14	the	the	DET
cblr-1707	1204	15	united	united	PROPN
cblr-1707	1204	16	states	states	PROPN
cblr-1707	1204	17	,	,	PUNCT
cblr-1707	1204	18	45	45	NUM
cblr-1707	1204	19	j.	j.	PROPN
cblr-1707	1204	20	econ	econ	PROPN
cblr-1707	1204	21	.	.	PUNCT
cblr-1707	1205	1	hist	hist	PROPN
cblr-1707	1205	2	.	.	PUNCT
cblr-1707	1206	1	277	277	NUM
cblr-1707	1206	2	(	(	PUNCT
cblr-1707	1206	3	1985	1985	NUM
cblr-1707	1206	4	)	)	PUNCT
cblr-1707	1206	5	.	.	PUNCT
cblr-1707	1207	1	215	215	NUM
cblr-1707	1207	2	see	see	VERB
cblr-1707	1207	3	hal	hal	PROPN
cblr-1707	1207	4	s.	s.	PROPN
cblr-1707	1207	5	scott	scott	PROPN
cblr-1707	1207	6	,	,	PUNCT
cblr-1707	1207	7	the	the	DET
cblr-1707	1207	8	risk	risk	NOUN
cblr-1707	1207	9	fixers	fixer	NOUN
cblr-1707	1207	10	,	,	PUNCT
cblr-1707	1207	11	91	91	NUM
cblr-1707	1207	12	harv	harv	NOUN
cblr-1707	1207	13	.	.	PUNCT
cblr-1707	1208	1	l.	l.	PROPN
cblr-1707	1208	2	rev	rev	PROPN
cblr-1707	1208	3	.	.	PROPN
cblr-1707	1208	4	737	737	NUM
cblr-1707	1208	5	(	(	PUNCT
cblr-1707	1208	6	1978	1978	NUM
cblr-1707	1208	7	)	)	PUNCT
cblr-1707	1208	8	.	.	PUNCT
cblr-1707	1209	1	216	216	NUM
cblr-1707	1209	2	compare	compare	NOUN
cblr-1707	1209	3	investment	investment	NOUN
cblr-1707	1209	4	companies	company	NOUN
cblr-1707	1209	5	—	—	PUNCT
cblr-1707	1209	6	classic	classic	ADJ
cblr-1707	1209	7	financial	financial	ADJ
cblr-1707	1209	8	intermediaries	intermediary	NOUN
cblr-1707	1209	9	—	—	PUNCT
cblr-1707	1209	10	where	where	SCONJ
cblr-1707	1209	11	no	no	DET
cblr-1707	1209	12	such	such	ADJ
cblr-1707	1209	13	horizontal	horizontal	ADJ
cblr-1707	1209	14	interconnections	interconnection	NOUN
cblr-1707	1209	15	exist	exist	VERB
cblr-1707	1209	16	.	.	PUNCT
cblr-1707	1209	17	217	217	NUM
cblr-1707	1209	18	the	the	DET
cblr-1707	1209	19	federal	federal	PROPN
cblr-1707	1209	20	reserve	reserve	PROPN
cblr-1707	1209	21	has	have	AUX
cblr-1707	1209	22	convened	convene	VERB
cblr-1707	1209	23	a	a	DET
cblr-1707	1209	24	faster	fast	ADJ
cblr-1707	1209	25	payments	payment	NOUN
cblr-1707	1209	26	task	task	NOUN
cblr-1707	1209	27	force	force	NOUN
cblr-1707	1209	28	to	to	PART
cblr-1707	1209	29	improve	improve	VERB
cblr-1707	1209	30	payment	payment	NOUN
cblr-1707	1209	31	speed	speed	NOUN
cblr-1707	1209	32	.	.	PUNCT
cblr-1707	1210	1	see	see	VERB
cblr-1707	1210	2	faster	fast	ADJ
cblr-1707	1210	3	payments	payment	NOUN
cblr-1707	1210	4	task	task	NOUN
cblr-1707	1210	5	force	force	NOUN
cblr-1707	1210	6	,	,	PUNCT
cblr-1707	1210	7	the	the	DET
cblr-1707	1210	8	u.s	u.s	PROPN
cblr-1707	1210	9	.	.	PROPN
cblr-1707	1210	10	path	path	NOUN
cblr-1707	1210	11	to	to	ADP
cblr-1707	1210	12	faster	fast	ADJ
cblr-1707	1210	13	payments	payment	NOUN
cblr-1707	1210	14	(	(	PUNCT
cblr-1707	1210	15	2017	2017	NUM
cblr-1707	1210	16	)	)	PUNCT
cblr-1707	1210	17	.	.	PUNCT
cblr-1707	1211	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	1211	2	no	no	NOUN
cblr-1707	1211	3	.	.	PUNCT
cblr-1707	1212	1	3:757	3:757	NUM
cblr-1707	1212	2	]	]	X
cblr-1707	1212	3	money	money	NOUN
cblr-1707	1212	4	as	as	ADP
cblr-1707	1212	5	infrastructure	infrastructure	NOUN
cblr-1707	1212	6	823	823	NUM
cblr-1707	1212	7	magnitude	magnitude	NOUN
cblr-1707	1212	8	more	more	ADJ
cblr-1707	1212	9	fragmented.218	fragmented.218	NOUN
cblr-1707	1212	10	when	when	SCONJ
cblr-1707	1212	11	there	there	PRON
cblr-1707	1212	12	is	be	VERB
cblr-1707	1212	13	just	just	ADV
cblr-1707	1212	14	one	one	NUM
cblr-1707	1212	15	ledger	ledger	NOUN
cblr-1707	1212	16	—	—	PUNCT
cblr-1707	1212	17	as	as	ADP
cblr-1707	1212	18	in	in	ADP
cblr-1707	1212	19	the	the	DET
cblr-1707	1212	20	fully	fully	ADV
cblr-1707	1212	21	insourced	insource	VERB
cblr-1707	1212	22	system	system	NOUN
cblr-1707	1212	23	considered	consider	VERB
cblr-1707	1212	24	here	here	ADV
cblr-1707	1212	25	—	—	PUNCT
cblr-1707	1212	26	payments	payment	NOUN
cblr-1707	1212	27	can	can	AUX
cblr-1707	1212	28	be	be	AUX
cblr-1707	1212	29	executed	execute	VERB
cblr-1707	1212	30	instantly	instantly	ADV
cblr-1707	1212	31	through	through	ADP
cblr-1707	1212	32	ledger	ledger	NOUN
cblr-1707	1212	33	entries	entry	NOUN
cblr-1707	1212	34	,	,	PUNCT
cblr-1707	1212	35	with	with	ADP
cblr-1707	1212	36	no	no	DET
cblr-1707	1212	37	need	need	NOUN
cblr-1707	1212	38	for	for	ADP
cblr-1707	1212	39	back	back	ADJ
cblr-1707	1212	40	-	-	PUNCT
cblr-1707	1212	41	end	end	NOUN
cblr-1707	1212	42	coordination	coordination	NOUN
cblr-1707	1212	43	and	and	CCONJ
cblr-1707	1212	44	settlement	settlement	NOUN
cblr-1707	1212	45	.	.	PUNCT
cblr-1707	1213	1	the	the	DET
cblr-1707	1213	2	left	left	ADJ
cblr-1707	1213	3	side	side	NOUN
cblr-1707	1213	4	of	of	ADP
cblr-1707	1213	5	the	the	DET
cblr-1707	1213	6	balance	balance	NOUN
cblr-1707	1213	7	sheet	sheet	NOUN
cblr-1707	1213	8	presents	present	VERB
cblr-1707	1213	9	a	a	DET
cblr-1707	1213	10	very	very	ADV
cblr-1707	1213	11	different	different	ADJ
cblr-1707	1213	12	set	set	NOUN
cblr-1707	1213	13	of	of	ADP
cblr-1707	1213	14	considerations	consideration	NOUN
cblr-1707	1213	15	.	.	PUNCT
cblr-1707	1214	1	governments	government	NOUN
cblr-1707	1214	2	have	have	AUX
cblr-1707	1214	3	usually	usually	ADV
cblr-1707	1214	4	found	find	VERB
cblr-1707	1214	5	it	it	PRON
cblr-1707	1214	6	convenient	convenient	ADJ
cblr-1707	1214	7	to	to	PART
cblr-1707	1214	8	issue	issue	VERB
cblr-1707	1214	9	money	money	NOUN
cblr-1707	1214	10	by	by	ADP
cblr-1707	1214	11	acquiring	acquire	VERB
cblr-1707	1214	12	investment	investment	NOUN
cblr-1707	1214	13	assets	asset	NOUN
cblr-1707	1214	14	,	,	PUNCT
cblr-1707	1214	15	credit	credit	NOUN
cblr-1707	1214	16	assets	asset	NOUN
cblr-1707	1214	17	in	in	ADP
cblr-1707	1214	18	particular	particular	ADJ
cblr-1707	1214	19	(	(	PUNCT
cblr-1707	1214	20	lending	lending	NOUN
cblr-1707	1214	21	and	and	CCONJ
cblr-1707	1214	22	bond	bond	NOUN
cblr-1707	1214	23	-	-	PUNCT
cblr-1707	1214	24	buying	buying	NOUN
cblr-1707	1214	25	)	)	PUNCT
cblr-1707	1214	26	.	.	PUNCT
cblr-1707	1215	1	there	there	PRON
cblr-1707	1215	2	are	be	VERB
cblr-1707	1215	3	good	good	ADJ
cblr-1707	1215	4	reasons	reason	NOUN
cblr-1707	1215	5	for	for	ADP
cblr-1707	1215	6	this	this	PRON
cblr-1707	1215	7	.	.	PUNCT
cblr-1707	1216	1	issuing	issue	VERB
cblr-1707	1216	2	money	money	NOUN
cblr-1707	1216	3	in	in	ADP
cblr-1707	1216	4	this	this	DET
cblr-1707	1216	5	way	way	NOUN
cblr-1707	1216	6	affords	afford	VERB
cblr-1707	1216	7	flexibility	flexibility	NOUN
cblr-1707	1216	8	in	in	ADP
cblr-1707	1216	9	monetary	monetary	ADJ
cblr-1707	1216	10	expansion	expansion	NOUN
cblr-1707	1216	11	and	and	CCONJ
cblr-1707	1216	12	contraction	contraction	NOUN
cblr-1707	1216	13	,	,	PUNCT
cblr-1707	1216	14	and	and	CCONJ
cblr-1707	1216	15	it	it	PRON
cblr-1707	1216	16	allows	allow	VERB
cblr-1707	1216	17	for	for	ADP
cblr-1707	1216	18	a	a	DET
cblr-1707	1216	19	high	high	ADJ
cblr-1707	1216	20	degree	degree	NOUN
cblr-1707	1216	21	of	of	ADP
cblr-1707	1216	22	administrative	administrative	ADJ
cblr-1707	1216	23	independence	independence	NOUN
cblr-1707	1216	24	in	in	ADP
cblr-1707	1216	25	executing	execute	VERB
cblr-1707	1216	26	monetary	monetary	ADJ
cblr-1707	1216	27	policy.219	policy.219	NOUN
cblr-1707	1216	28	but	but	CCONJ
cblr-1707	1216	29	investing	investing	NOUN
cblr-1707	1216	30	,	,	PUNCT
cblr-1707	1216	31	unlike	unlike	ADP
cblr-1707	1216	32	transaction	transaction	NOUN
cblr-1707	1216	33	processing	processing	NOUN
cblr-1707	1216	34	by	by	ADP
cblr-1707	1216	35	ledger	ledger	NOUN
cblr-1707	1216	36	entry	entry	NOUN
cblr-1707	1216	37	,	,	PUNCT
cblr-1707	1216	38	is	be	AUX
cblr-1707	1216	39	far	far	ADV
cblr-1707	1216	40	from	from	ADP
cblr-1707	1216	41	a	a	DET
cblr-1707	1216	42	routinized	routinized	ADJ
cblr-1707	1216	43	function	function	NOUN
cblr-1707	1216	44	.	.	PUNCT
cblr-1707	1217	1	it	it	PRON
cblr-1707	1217	2	is	be	AUX
cblr-1707	1217	3	informationally	informationally	ADV
cblr-1707	1217	4	intensive	intensive	ADJ
cblr-1707	1217	5	,	,	PUNCT
cblr-1707	1217	6	and	and	CCONJ
cblr-1707	1217	7	systematic	systematic	ADJ
cblr-1707	1217	8	errors	error	NOUN
cblr-1707	1217	9	are	be	AUX
cblr-1707	1217	10	costly	costly	ADJ
cblr-1707	1217	11	.	.	PUNCT
cblr-1707	1218	1	nor	nor	CCONJ
cblr-1707	1218	2	can	can	AUX
cblr-1707	1218	3	the	the	DET
cblr-1707	1218	4	central	central	ADJ
cblr-1707	1218	5	bank	bank	NOUN
cblr-1707	1218	6	rely	rely	VERB
cblr-1707	1218	7	on	on	ADP
cblr-1707	1218	8	market	market	NOUN
cblr-1707	1218	9	efficiency	efficiency	NOUN
cblr-1707	1218	10	to	to	PART
cblr-1707	1218	11	protect	protect	VERB
cblr-1707	1218	12	it	it	PRON
cblr-1707	1218	13	from	from	ADP
cblr-1707	1218	14	investing	invest	VERB
cblr-1707	1218	15	errors	error	NOUN
cblr-1707	1218	16	.	.	PUNCT
cblr-1707	1219	1	the	the	DET
cblr-1707	1219	2	liquid	liquid	ADJ
cblr-1707	1219	3	bond	bond	NOUN
cblr-1707	1219	4	markets	market	NOUN
cblr-1707	1219	5	are	be	AUX
cblr-1707	1219	6	only	only	ADV
cblr-1707	1219	7	so	so	ADV
cblr-1707	1219	8	large	large	ADJ
cblr-1707	1219	9	.	.	PUNCT
cblr-1707	1220	1	under	under	ADP
cblr-1707	1220	2	insourcing	insourcing	NOUN
cblr-1707	1220	3	,	,	PUNCT
cblr-1707	1220	4	the	the	DET
cblr-1707	1220	5	central	central	ADJ
cblr-1707	1220	6	bank	bank	NOUN
cblr-1707	1220	7	’s	’s	PART
cblr-1707	1220	8	balance	balance	NOUN
cblr-1707	1220	9	sheet	sheet	NOUN
cblr-1707	1220	10	may	may	AUX
cblr-1707	1220	11	be	be	AUX
cblr-1707	1220	12	quite	quite	ADV
cblr-1707	1220	13	large	large	ADJ
cblr-1707	1220	14	in	in	ADP
cblr-1707	1220	15	relation	relation	NOUN
cblr-1707	1220	16	to	to	ADP
cblr-1707	1220	17	these	these	DET
cblr-1707	1220	18	markets	market	NOUN
cblr-1707	1220	19	.	.	PUNCT
cblr-1707	1221	1	the	the	DET
cblr-1707	1221	2	central	central	PROPN
cblr-1707	1221	3	bank	bank	PROPN
cblr-1707	1221	4	’s	’s	PART
cblr-1707	1221	5	activities	activity	NOUN
cblr-1707	1221	6	may	may	AUX
cblr-1707	1221	7	therefore	therefore	ADV
cblr-1707	1221	8	push	push	VERB
cblr-1707	1221	9	bond	bond	NOUN
cblr-1707	1221	10	prices	price	NOUN
cblr-1707	1221	11	around	around	ADV
cblr-1707	1221	12	and	and	CCONJ
cblr-1707	1221	13	distort	distort	VERB
cblr-1707	1221	14	resource	resource	NOUN
cblr-1707	1221	15	allocation.220	allocation.220	NOUN
cblr-1707	1221	16	to	to	PART
cblr-1707	1221	17	avoid	avoid	VERB
cblr-1707	1221	18	this	this	PRON
cblr-1707	1221	19	,	,	PUNCT
cblr-1707	1221	20	the	the	DET
cblr-1707	1221	21	218	218	NUM
cblr-1707	1221	22	for	for	ADP
cblr-1707	1221	23	an	an	DET
cblr-1707	1221	24	engaging	engaging	ADJ
cblr-1707	1221	25	podcast	podcast	NOUN
cblr-1707	1221	26	treatment	treatment	NOUN
cblr-1707	1221	27	of	of	ADP
cblr-1707	1221	28	why	why	SCONJ
cblr-1707	1221	29	“	"	PUNCT
cblr-1707	1221	30	the	the	DET
cblr-1707	1221	31	invisible	invisible	ADJ
cblr-1707	1221	32	pipes	pipe	NOUN
cblr-1707	1221	33	that	that	PRON
cblr-1707	1221	34	carry	carry	VERB
cblr-1707	1221	35	money	money	NOUN
cblr-1707	1221	36	from	from	ADP
cblr-1707	1221	37	one	one	NUM
cblr-1707	1221	38	place	place	NOUN
cblr-1707	1221	39	to	to	ADP
cblr-1707	1221	40	another	another	PRON
cblr-1707	1221	41	[	[	PUNCT
cblr-1707	1221	42	in	in	ADP
cblr-1707	1221	43	america	america	PROPN
cblr-1707	1221	44	]	]	PUNCT
cblr-1707	1221	45	.	.	PUNCT
cblr-1707	1221	46	.	.	PUNCT
cblr-1707	1222	1	.	.	PUNCT
cblr-1707	1223	1	are	be	AUX
cblr-1707	1223	2	so	so	ADV
cblr-1707	1223	3	slow	slow	ADJ
cblr-1707	1223	4	”	"	PUNCT
cblr-1707	1223	5	and	and	CCONJ
cblr-1707	1223	6	why	why	SCONJ
cblr-1707	1223	7	the	the	DET
cblr-1707	1223	8	ones	one	NOUN
cblr-1707	1223	9	in	in	ADP
cblr-1707	1223	10	england	england	PROPN
cblr-1707	1223	11	are	be	AUX
cblr-1707	1223	12	so	so	ADV
cblr-1707	1223	13	much	much	ADV
cblr-1707	1223	14	faster	fast	ADV
cblr-1707	1223	15	,	,	PUNCT
cblr-1707	1223	16	listen	listen	VERB
cblr-1707	1223	17	to	to	ADP
cblr-1707	1223	18	david	david	PROPN
cblr-1707	1223	19	kestenbaum	kestenbaum	PROPN
cblr-1707	1223	20	&	&	CCONJ
cblr-1707	1223	21	alex	alex	PROPN
cblr-1707	1223	22	blumberg	blumberg	PROPN
cblr-1707	1223	23	,	,	PUNCT
cblr-1707	1223	24	planet	planet	NOUN
cblr-1707	1223	25	money	money	NOUN
cblr-1707	1223	26	:	:	PUNCT
cblr-1707	1223	27	the	the	DET
cblr-1707	1223	28	economy	economy	NOUN
cblr-1707	1223	29	explained	explain	VERB
cblr-1707	1223	30	episode	episode	NOUN
cblr-1707	1223	31	489	489	NUM
cblr-1707	1223	32	:	:	PUNCT
cblr-1707	1223	33	the	the	DET
cblr-1707	1223	34	invisible	invisible	ADJ
cblr-1707	1223	35	plumbing	plumbing	NOUN
cblr-1707	1223	36	of	of	ADP
cblr-1707	1223	37	our	our	PRON
cblr-1707	1223	38	economy	economy	NOUN
cblr-1707	1223	39	,	,	PUNCT
cblr-1707	1223	40	nat’l	nat’l	NOUN
cblr-1707	1223	41	pub	pub	NOUN
cblr-1707	1223	42	.	.	PUNCT
cblr-1707	1224	1	radio	radio	NOUN
cblr-1707	1224	2	(	(	PUNCT
cblr-1707	1224	3	oct	oct	PROPN
cblr-1707	1224	4	.	.	PROPN
cblr-1707	1224	5	4	4	NUM
cblr-1707	1224	6	,	,	PUNCT
cblr-1707	1224	7	2013	2013	NUM
cblr-1707	1224	8	)	)	PUNCT
cblr-1707	1224	9	https://www.npr.org/templates/transcript/transcript.php?storyid=2292249	https://www.npr.org/templates/transcript/transcript.php?storyid=2292249	X
cblr-1707	1224	10	64	64	NUM
cblr-1707	1225	1	[	[	X
cblr-1707	1225	2	https://perma.cc/jj4d-tvwn	https://perma.cc/jj4d-tvwn	X
cblr-1707	1225	3	]	]	X
cblr-1707	1225	4	.	.	PUNCT
cblr-1707	1226	1	219	219	NUM
cblr-1707	1226	2	for	for	ADP
cblr-1707	1226	3	a	a	DET
cblr-1707	1226	4	succinct	succinct	ADJ
cblr-1707	1226	5	explanation	explanation	NOUN
cblr-1707	1226	6	of	of	ADP
cblr-1707	1226	7	the	the	DET
cblr-1707	1226	8	traditional	traditional	ADJ
cblr-1707	1226	9	rationale	rationale	NOUN
cblr-1707	1226	10	for	for	ADP
cblr-1707	1226	11	monetary	monetary	ADJ
cblr-1707	1226	12	policy	policy	NOUN
cblr-1707	1226	13	independence	independence	NOUN
cblr-1707	1226	14	,	,	PUNCT
cblr-1707	1226	15	see	see	VERB
cblr-1707	1226	16	ben	ben	PROPN
cblr-1707	1226	17	s.	s.	PROPN
cblr-1707	1226	18	bernanke	bernanke	PROPN
cblr-1707	1226	19	,	,	PUNCT
cblr-1707	1226	20	chairman	chairman	NOUN
cblr-1707	1226	21	,	,	PUNCT
cblr-1707	1226	22	fed	fed	PROPN
cblr-1707	1226	23	.	.	PUNCT
cblr-1707	1226	24	reserve	reserve	PROPN
cblr-1707	1226	25	sys	sys	PROPN
cblr-1707	1226	26	.	.	PUNCT
cblr-1707	1227	1	bd	bd	PROPN
cblr-1707	1227	2	.	.	PROPN
cblr-1707	1227	3	of	of	ADP
cblr-1707	1227	4	governors	governor	NOUN
cblr-1707	1227	5	,	,	PUNCT
cblr-1707	1227	6	remarks	remark	NOUN
cblr-1707	1227	7	at	at	ADP
cblr-1707	1227	8	the	the	DET
cblr-1707	1227	9	institute	institute	NOUN
cblr-1707	1227	10	for	for	ADP
cblr-1707	1227	11	monetary	monetary	ADJ
cblr-1707	1227	12	and	and	CCONJ
cblr-1707	1227	13	economic	economic	ADJ
cblr-1707	1227	14	studies	study	NOUN
cblr-1707	1227	15	international	international	ADJ
cblr-1707	1227	16	conference	conference	NOUN
cblr-1707	1227	17	(	(	PUNCT
cblr-1707	1227	18	may	may	PROPN
cblr-1707	1227	19	26	26	NUM
cblr-1707	1227	20	,	,	PUNCT
cblr-1707	1227	21	2010	2010	NUM
cblr-1707	1227	22	)	)	PUNCT
cblr-1707	1227	23	.	.	PUNCT
cblr-1707	1228	1	for	for	ADP
cblr-1707	1228	2	a	a	DET
cblr-1707	1228	3	nuanced	nuanced	ADJ
cblr-1707	1228	4	treatment	treatment	NOUN
cblr-1707	1228	5	of	of	ADP
cblr-1707	1228	6	federal	federal	ADJ
cblr-1707	1228	7	reserve	reserve	PROPN
cblr-1707	1228	8	independence	independence	NOUN
cblr-1707	1228	9	,	,	PUNCT
cblr-1707	1228	10	historically	historically	ADV
cblr-1707	1228	11	and	and	CCONJ
cblr-1707	1228	12	conceptually	conceptually	ADV
cblr-1707	1228	13	,	,	PUNCT
cblr-1707	1228	14	see	see	VERB
cblr-1707	1228	15	peter	peter	PROPN
cblr-1707	1228	16	conti	conti	PROPN
cblr-1707	1228	17	-	-	ADJ
cblr-1707	1228	18	brown	brown	ADJ
cblr-1707	1228	19	,	,	PUNCT
cblr-1707	1228	20	the	the	DET
cblr-1707	1228	21	power	power	NOUN
cblr-1707	1228	22	and	and	CCONJ
cblr-1707	1228	23	independence	independence	NOUN
cblr-1707	1228	24	of	of	ADP
cblr-1707	1228	25	the	the	DET
cblr-1707	1228	26	federal	federal	PROPN
cblr-1707	1228	27	reserve	reserve	PROPN
cblr-1707	1228	28	(	(	PUNCT
cblr-1707	1228	29	2016	2016	NUM
cblr-1707	1228	30	)	)	PUNCT
cblr-1707	1228	31	.	.	PUNCT
cblr-1707	1229	1	220	220	NUM
cblr-1707	1229	2	the	the	DET
cblr-1707	1229	3	fed	fed	PROPN
cblr-1707	1229	4	faced	face	VERB
cblr-1707	1229	5	these	these	DET
cblr-1707	1229	6	issues	issue	NOUN
cblr-1707	1229	7	squarely	squarely	ADV
cblr-1707	1229	8	in	in	ADP
cblr-1707	1229	9	2000	2000	NUM
cblr-1707	1229	10	,	,	PUNCT
cblr-1707	1229	11	in	in	ADP
cblr-1707	1229	12	the	the	DET
cblr-1707	1229	13	face	face	NOUN
cblr-1707	1229	14	of	of	ADP
cblr-1707	1229	15	large	large	ADJ
cblr-1707	1229	16	budget	budget	NOUN
cblr-1707	1229	17	surpluses	surplus	NOUN
cblr-1707	1229	18	and	and	CCONJ
cblr-1707	1229	19	dwindling	dwindle	VERB
cblr-1707	1229	20	quantities	quantity	NOUN
cblr-1707	1229	21	of	of	ADP
cblr-1707	1229	22	outstanding	outstanding	ADJ
cblr-1707	1229	23	treasury	treasury	NOUN
cblr-1707	1229	24	securities	security	NOUN
cblr-1707	1229	25	.	.	PUNCT
cblr-1707	1230	1	see	see	VERB
cblr-1707	1230	2	marvin	marvin	PROPN
cblr-1707	1230	3	goodfriend	goodfriend	PROPN
cblr-1707	1230	4	,	,	PUNCT
cblr-1707	1230	5	policy	policy	NOUN
cblr-1707	1230	6	debates	debate	NOUN
cblr-1707	1230	7	at	at	ADP
cblr-1707	1230	8	the	the	DET
cblr-1707	1230	9	federal	federal	ADJ
cblr-1707	1230	10	open	open	ADJ
cblr-1707	1230	11	market	market	NOUN
cblr-1707	1230	12	committee	committee	NOUN
cblr-1707	1230	13	:	:	PUNCT
cblr-1707	1230	14	1993–2002	1993–2002	NUM
cblr-1707	1230	15	,	,	PUNCT
cblr-1707	1230	16	in	in	ADP
cblr-1707	1230	17	the	the	DET
cblr-1707	1230	18	origins	origin	NOUN
cblr-1707	1230	19	,	,	PUNCT
cblr-1707	1230	20	history	history	NOUN
cblr-1707	1230	21	,	,	PUNCT
cblr-1707	1230	22	and	and	CCONJ
cblr-1707	1230	23	future	future	NOUN
cblr-1707	1230	24	of	of	ADP
cblr-1707	1230	25	the	the	DET
cblr-1707	1230	26	federal	federal	PROPN
cblr-1707	1230	27	reserve	reserve	PROPN
cblr-1707	1230	28	:	:	PUNCT
cblr-1707	1230	29	a	a	DET
cblr-1707	1230	30	return	return	NOUN
cblr-1707	1230	31	to	to	ADP
cblr-1707	1230	32	jekyll	jekyll	PROPN
cblr-1707	1230	33	island	island	PROPN
cblr-1707	1230	34	332	332	NUM
cblr-1707	1230	35	,	,	PUNCT
cblr-1707	1230	36	355–56	355–56	NUM
cblr-1707	1230	37	(	(	PUNCT
cblr-1707	1230	38	michael	michael	PROPN
cblr-1707	1230	39	d.	d.	PROPN
cblr-1707	1230	40	bordo	bordo	PROPN
cblr-1707	1230	41	&	&	CCONJ
cblr-1707	1230	42	william	william	PROPN
cblr-1707	1230	43	roberds	roberds	PROPN
cblr-1707	1230	44	eds	eds	PROPN
cblr-1707	1230	45	.	.	PROPN
cblr-1707	1230	46	,	,	PUNCT
cblr-1707	1230	47	2013	2013	NUM
cblr-1707	1230	48	)	)	PUNCT
cblr-1707	1230	49	.	.	PUNCT
cblr-1707	1231	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	1231	2	824	824	NUM
cblr-1707	1231	3	columbia	columbia	PROPN
cblr-1707	1231	4	business	business	NOUN
cblr-1707	1231	5	law	law	PROPN
cblr-1707	1231	6	review	review	NOUN
cblr-1707	1231	7	[	[	X
cblr-1707	1231	8	vol	vol	NOUN
cblr-1707	1231	9	.	.	NOUN
cblr-1707	1231	10	2018	2018	NUM
cblr-1707	1231	11	central	central	ADJ
cblr-1707	1231	12	bank	bank	NOUN
cblr-1707	1231	13	could	could	AUX
cblr-1707	1231	14	diversify	diversify	VERB
cblr-1707	1231	15	into	into	ADP
cblr-1707	1231	16	less	less	ADJ
cblr-1707	1231	17	liquid	liquid	ADJ
cblr-1707	1231	18	or	or	CCONJ
cblr-1707	1231	19	illiquid	illiquid	ADJ
cblr-1707	1231	20	markets	market	NOUN
cblr-1707	1231	21	,	,	PUNCT
cblr-1707	1231	22	such	such	ADJ
cblr-1707	1231	23	as	as	ADP
cblr-1707	1231	24	direct	direct	ADJ
cblr-1707	1231	25	lending	lending	NOUN
cblr-1707	1231	26	.	.	PUNCT
cblr-1707	1232	1	here	here	ADV
cblr-1707	1232	2	,	,	PUNCT
cblr-1707	1232	3	securities	security	NOUN
cblr-1707	1232	4	market	market	NOUN
cblr-1707	1232	5	efficiency	efficiency	NOUN
cblr-1707	1232	6	offers	offer	VERB
cblr-1707	1232	7	no	no	DET
cblr-1707	1232	8	protection	protection	NOUN
cblr-1707	1232	9	to	to	ADP
cblr-1707	1232	10	the	the	DET
cblr-1707	1232	11	central	central	ADJ
cblr-1707	1232	12	bank	bank	NOUN
cblr-1707	1232	13	against	against	ADP
cblr-1707	1232	14	overpayment	overpayment	NOUN
cblr-1707	1232	15	.	.	PUNCT
cblr-1707	1233	1	lending	lending	NOUN
cblr-1707	1233	2	requires	require	VERB
cblr-1707	1233	3	local	local	ADJ
cblr-1707	1233	4	and	and	CCONJ
cblr-1707	1233	5	industry	industry	NOUN
cblr-1707	1233	6	-	-	PUNCT
cblr-1707	1233	7	specific	specific	ADJ
cblr-1707	1233	8	knowledge	knowledge	NOUN
cblr-1707	1233	9	and	and	CCONJ
cblr-1707	1233	10	continuous	continuous	ADJ
cblr-1707	1233	11	expert	expert	NOUN
cblr-1707	1233	12	judgment.221	judgment.221	NOUN
cblr-1707	1233	13	this	this	DET
cblr-1707	1233	14	investment	investment	NOUN
cblr-1707	1233	15	function	function	NOUN
cblr-1707	1233	16	is	be	AUX
cblr-1707	1233	17	a	a	DET
cblr-1707	1233	18	good	good	ADJ
cblr-1707	1233	19	candidate	candidate	NOUN
cblr-1707	1233	20	for	for	ADP
cblr-1707	1233	21	outsourcing	outsource	VERB
cblr-1707	1233	22	:	:	PUNCT
cblr-1707	1233	23	establishing	establish	VERB
cblr-1707	1233	24	incentive	incentive	NOUN
cblr-1707	1233	25	arrangements	arrangement	NOUN
cblr-1707	1233	26	that	that	PRON
cblr-1707	1233	27	reward	reward	VERB
cblr-1707	1233	28	successful	successful	ADJ
cblr-1707	1233	29	profit	profit	NOUN
cblr-1707	1233	30	-	-	PUNCT
cblr-1707	1233	31	seeking	seeking	NOUN
cblr-1707	1233	32	.	.	PUNCT
cblr-1707	1234	1	the	the	DET
cblr-1707	1234	2	idea	idea	NOUN
cblr-1707	1234	3	is	be	AUX
cblr-1707	1234	4	to	to	ADP
cblr-1707	1234	5	harness	harness	ADJ
cblr-1707	1234	6	private	private	ADJ
cblr-1707	1234	7	incentives	incentive	NOUN
cblr-1707	1234	8	to	to	PART
cblr-1707	1234	9	invest	invest	VERB
cblr-1707	1234	10	well	well	ADV
cblr-1707	1234	11	.	.	PUNCT
cblr-1707	1235	1	as	as	ADP
cblr-1707	1235	2	an	an	DET
cblr-1707	1235	3	added	add	VERB
cblr-1707	1235	4	bonus	bonus	NOUN
cblr-1707	1235	5	,	,	PUNCT
cblr-1707	1235	6	outsourcing	outsourcing	NOUN
cblr-1707	1235	7	insulates	insulate	VERB
cblr-1707	1235	8	the	the	DET
cblr-1707	1235	9	investment	investment	NOUN
cblr-1707	1235	10	process	process	NOUN
cblr-1707	1235	11	from	from	ADP
cblr-1707	1235	12	the	the	DET
cblr-1707	1235	13	appearance	appearance	NOUN
cblr-1707	1235	14	or	or	CCONJ
cblr-1707	1235	15	reality	reality	NOUN
cblr-1707	1235	16	of	of	ADP
cblr-1707	1235	17	politically	politically	ADV
cblr-1707	1235	18	motivated	motivated	ADJ
cblr-1707	1235	19	favoritism	favoritism	NOUN
cblr-1707	1235	20	.	.	PUNCT
cblr-1707	1236	1	bank	bank	NOUN
cblr-1707	1236	2	chartering	chartering	NOUN
cblr-1707	1236	3	,	,	PUNCT
cblr-1707	1236	4	on	on	ADP
cblr-1707	1236	5	this	this	DET
cblr-1707	1236	6	view	view	NOUN
cblr-1707	1236	7	,	,	PUNCT
cblr-1707	1236	8	is	be	AUX
cblr-1707	1236	9	an	an	DET
cblr-1707	1236	10	exercise	exercise	NOUN
cblr-1707	1236	11	in	in	ADP
cblr-1707	1236	12	portfolio	portfolio	NOUN
cblr-1707	1236	13	management	management	NOUN
cblr-1707	1236	14	.	.	PUNCT
cblr-1707	1237	1	bank	bank	NOUN
cblr-1707	1237	2	owners	owner	NOUN
cblr-1707	1237	3	(	(	PUNCT
cblr-1707	1237	4	equity	equity	NOUN
cblr-1707	1237	5	holders	holder	NOUN
cblr-1707	1237	6	)	)	PUNCT
cblr-1707	1237	7	put	put	VERB
cblr-1707	1237	8	some	some	PRON
cblr-1707	1237	9	of	of	ADP
cblr-1707	1237	10	their	their	PRON
cblr-1707	1237	11	own	own	ADJ
cblr-1707	1237	12	wealth	wealth	NOUN
cblr-1707	1237	13	down	down	ADP
cblr-1707	1237	14	as	as	ADP
cblr-1707	1237	15	a	a	DET
cblr-1707	1237	16	first	first	ADJ
cblr-1707	1237	17	-	-	PUNCT
cblr-1707	1237	18	loss	loss	NOUN
cblr-1707	1237	19	equity	equity	NOUN
cblr-1707	1237	20	position	position	NOUN
cblr-1707	1237	21	.	.	PUNCT
cblr-1707	1238	1	the	the	DET
cblr-1707	1238	2	better	well	ADJ
cblr-1707	1238	3	and	and	CCONJ
cblr-1707	1238	4	more	more	ADV
cblr-1707	1238	5	efficiently	efficiently	ADV
cblr-1707	1238	6	they	they	PRON
cblr-1707	1238	7	invest	invest	VERB
cblr-1707	1238	8	,	,	PUNCT
cblr-1707	1238	9	the	the	PRON
cblr-1707	1238	10	more	more	ADV
cblr-1707	1238	11	they	they	PRON
cblr-1707	1238	12	profit	profit	VERB
cblr-1707	1238	13	.	.	PUNCT
cblr-1707	1239	1	the	the	DET
cblr-1707	1239	2	investment	investment	NOUN
cblr-1707	1239	3	process	process	NOUN
cblr-1707	1239	4	is	be	AUX
cblr-1707	1239	5	removed	remove	VERB
cblr-1707	1239	6	from	from	ADP
cblr-1707	1239	7	direct	direct	ADJ
cblr-1707	1239	8	government	government	NOUN
cblr-1707	1239	9	decision	decision	NOUN
cblr-1707	1239	10	-	-	PUNCT
cblr-1707	1239	11	making	making	NOUN
cblr-1707	1239	12	,	,	PUNCT
cblr-1707	1239	13	allaying	allay	VERB
cblr-1707	1239	14	concerns	concern	NOUN
cblr-1707	1239	15	about	about	ADP
cblr-1707	1239	16	politicized	politicized	ADJ
cblr-1707	1239	17	asset	asset	NOUN
cblr-1707	1239	18	allocation	allocation	NOUN
cblr-1707	1239	19	.	.	PUNCT
cblr-1707	1240	1	as	as	ADP
cblr-1707	1240	2	in	in	ADP
cblr-1707	1240	3	any	any	DET
cblr-1707	1240	4	principal	principal	ADJ
cblr-1707	1240	5	-	-	PUNCT
cblr-1707	1240	6	agent	agent	NOUN
cblr-1707	1240	7	relationship	relationship	NOUN
cblr-1707	1240	8	,	,	PUNCT
cblr-1707	1240	9	incentives	incentive	NOUN
cblr-1707	1240	10	are	be	AUX
cblr-1707	1240	11	not	not	PART
cblr-1707	1240	12	perfectly	perfectly	ADV
cblr-1707	1240	13	aligned	align	VERB
cblr-1707	1240	14	.	.	PUNCT
cblr-1707	1241	1	with	with	ADP
cblr-1707	1241	2	the	the	DET
cblr-1707	1241	3	government	government	NOUN
cblr-1707	1241	4	holding	hold	VERB
cblr-1707	1241	5	a	a	DET
cblr-1707	1241	6	senior	senior	ADJ
cblr-1707	1241	7	claim	claim	NOUN
cblr-1707	1241	8	on	on	ADP
cblr-1707	1241	9	each	each	DET
cblr-1707	1241	10	franchisee	franchisee	NOUN
cblr-1707	1241	11	’s	’s	PART
cblr-1707	1241	12	asset	asset	NOUN
cblr-1707	1241	13	portfolio	portfolio	NOUN
cblr-1707	1241	14	,	,	PUNCT
cblr-1707	1241	15	franchisees	franchisee	NOUN
cblr-1707	1241	16	have	have	VERB
cblr-1707	1241	17	incentives	incentive	NOUN
cblr-1707	1241	18	to	to	PART
cblr-1707	1241	19	increase	increase	VERB
cblr-1707	1241	20	risk	risk	NOUN
cblr-1707	1241	21	-	-	PUNCT
cblr-1707	1241	22	taking	taking	NOUN
cblr-1707	1241	23	.	.	PUNCT
cblr-1707	1242	1	such	such	ADJ
cblr-1707	1242	2	moral	moral	ADJ
cblr-1707	1242	3	-	-	PUNCT
cblr-1707	1242	4	hazard	hazard	NOUN
cblr-1707	1242	5	incentives	incentive	NOUN
cblr-1707	1242	6	are	be	AUX
cblr-1707	1242	7	endemic	endemic	ADJ
cblr-1707	1242	8	to	to	ADP
cblr-1707	1242	9	credit	credit	NOUN
cblr-1707	1242	10	and	and	CCONJ
cblr-1707	1242	11	insurance	insurance	NOUN
cblr-1707	1242	12	markets	market	NOUN
cblr-1707	1242	13	,	,	PUNCT
cblr-1707	1242	14	and	and	CCONJ
cblr-1707	1242	15	there	there	PRON
cblr-1707	1242	16	are	be	VERB
cblr-1707	1242	17	standard	standard	ADJ
cblr-1707	1242	18	mechanisms	mechanism	NOUN
cblr-1707	1242	19	to	to	PART
cblr-1707	1242	20	deal	deal	VERB
cblr-1707	1242	21	with	with	ADP
cblr-1707	1242	22	them	they	PRON
cblr-1707	1242	23	,	,	PUNCT
cblr-1707	1242	24	including	include	VERB
cblr-1707	1242	25	risk	risk	NOUN
cblr-1707	1242	26	constraints	constraint	NOUN
cblr-1707	1242	27	and	and	CCONJ
cblr-1707	1242	28	first	first	ADJ
cblr-1707	1242	29	-	-	PUNCT
cblr-1707	1242	30	loss	loss	NOUN
cblr-1707	1242	31	requirements	requirement	NOUN
cblr-1707	1242	32	(	(	PUNCT
cblr-1707	1242	33	capital	capital	NOUN
cblr-1707	1242	34	requirements	requirement	NOUN
cblr-1707	1242	35	or	or	CCONJ
cblr-1707	1242	36	deductibles	deductible	NOUN
cblr-1707	1242	37	)	)	PUNCT
cblr-1707	1242	38	.	.	PUNCT
cblr-1707	1243	1	these	these	PRON
cblr-1707	1243	2	are	be	AUX
cblr-1707	1243	3	core	core	ADJ
cblr-1707	1243	4	features	feature	NOUN
cblr-1707	1243	5	of	of	ADP
cblr-1707	1243	6	the	the	DET
cblr-1707	1243	7	banking	banking	NOUN
cblr-1707	1243	8	regulatory	regulatory	ADJ
cblr-1707	1243	9	“	"	PUNCT
cblr-1707	1243	10	contract	contract	NOUN
cblr-1707	1243	11	.	.	PUNCT
cblr-1707	1243	12	”222	”222	PUNCT
cblr-1707	1243	13	with	with	ADP
cblr-1707	1243	14	this	this	DET
cblr-1707	1243	15	rationale	rationale	NOUN
cblr-1707	1243	16	for	for	ADP
cblr-1707	1243	17	outsourcing	outsourcing	NOUN
cblr-1707	1243	18	in	in	ADP
cblr-1707	1243	19	hand	hand	NOUN
cblr-1707	1243	20	,	,	PUNCT
cblr-1707	1243	21	we	we	PRON
cblr-1707	1243	22	can	can	AUX
cblr-1707	1243	23	turn	turn	VERB
cblr-1707	1243	24	to	to	ADP
cblr-1707	1243	25	the	the	DET
cblr-1707	1243	26	second	second	ADJ
cblr-1707	1243	27	question	question	NOUN
cblr-1707	1243	28	:	:	PUNCT
cblr-1707	1243	29	how	how	SCONJ
cblr-1707	1243	30	many	many	ADJ
cblr-1707	1243	31	franchisees	franchisee	NOUN
cblr-1707	1243	32	should	should	AUX
cblr-1707	1243	33	be	be	AUX
cblr-1707	1243	34	selected	select	VERB
cblr-1707	1243	35	and	and	CCONJ
cblr-1707	1243	36	on	on	ADP
cblr-1707	1243	37	what	what	DET
cblr-1707	1243	38	basis	basis	NOUN
cblr-1707	1243	39	?	?	PUNCT
cblr-1707	1244	1	it	it	PRON
cblr-1707	1244	2	is	be	AUX
cblr-1707	1244	3	important	important	ADJ
cblr-1707	1244	4	to	to	PART
cblr-1707	1244	5	be	be	AUX
cblr-1707	1244	6	clear	clear	ADJ
cblr-1707	1244	7	about	about	ADP
cblr-1707	1244	8	what	what	PRON
cblr-1707	1244	9	is	be	AUX
cblr-1707	1244	10	not	not	PART
cblr-1707	1244	11	being	be	AUX
cblr-1707	1244	12	asked	ask	VERB
cblr-1707	1244	13	.	.	PUNCT
cblr-1707	1245	1	first	first	ADV
cblr-1707	1245	2	,	,	PUNCT
cblr-1707	1245	3	the	the	DET
cblr-1707	1245	4	question	question	NOUN
cblr-1707	1245	5	is	be	AUX
cblr-1707	1245	6	not	not	PART
cblr-1707	1245	7	how	how	SCONJ
cblr-1707	1245	8	much	much	ADJ
cblr-1707	1245	9	aggregate	aggregate	VERB
cblr-1707	1245	10	221	221	NUM
cblr-1707	1245	11	walter	walter	NOUN
cblr-1707	1245	12	bagehot	bagehot	NOUN
cblr-1707	1245	13	wrestled	wrestle	VERB
cblr-1707	1245	14	with	with	ADP
cblr-1707	1245	15	this	this	DET
cblr-1707	1245	16	issue	issue	NOUN
cblr-1707	1245	17	in	in	ADP
cblr-1707	1245	18	his	his	PRON
cblr-1707	1245	19	classic	classic	ADJ
cblr-1707	1245	20	work	work	NOUN
cblr-1707	1245	21	on	on	ADP
cblr-1707	1245	22	central	central	ADJ
cblr-1707	1245	23	banking	banking	NOUN
cblr-1707	1245	24	.	.	PUNCT
cblr-1707	1246	1	see	see	VERB
cblr-1707	1246	2	walter	walter	PROPN
cblr-1707	1246	3	bagehot	bagehot	PROPN
cblr-1707	1246	4	,	,	PUNCT
cblr-1707	1246	5	lombard	lombard	PROPN
cblr-1707	1246	6	street	street	NOUN
cblr-1707	1246	7	:	:	PUNCT
cblr-1707	1246	8	a	a	DET
cblr-1707	1246	9	description	description	NOUN
cblr-1707	1246	10	of	of	ADP
cblr-1707	1246	11	the	the	DET
cblr-1707	1246	12	money	money	NOUN
cblr-1707	1246	13	market	market	NOUN
cblr-1707	1246	14	88–89	88–89	NUM
cblr-1707	1246	15	(	(	PUNCT
cblr-1707	1246	16	1873	1873	NUM
cblr-1707	1246	17	)	)	PUNCT
cblr-1707	1246	18	(	(	PUNCT
cblr-1707	1246	19	“	"	PUNCT
cblr-1707	1246	20	a	a	DET
cblr-1707	1246	21	central	central	ADJ
cblr-1707	1246	22	bank	bank	NOUN
cblr-1707	1246	23	,	,	PUNCT
cblr-1707	1246	24	which	which	PRON
cblr-1707	1246	25	is	be	AUX
cblr-1707	1246	26	governed	govern	VERB
cblr-1707	1246	27	in	in	ADP
cblr-1707	1246	28	the	the	DET
cblr-1707	1246	29	capital	capital	NOUN
cblr-1707	1246	30	and	and	CCONJ
cblr-1707	1246	31	descends	descend	VERB
cblr-1707	1246	32	on	on	ADP
cblr-1707	1246	33	a	a	DET
cblr-1707	1246	34	country	country	NOUN
cblr-1707	1246	35	district	district	NOUN
cblr-1707	1246	36	,	,	PUNCT
cblr-1707	1246	37	has	have	VERB
cblr-1707	1246	38	much	much	ADV
cblr-1707	1246	39	fewer	few	ADJ
cblr-1707	1246	40	modes	mode	NOUN
cblr-1707	1246	41	of	of	ADP
cblr-1707	1246	42	lending	lend	VERB
cblr-1707	1246	43	money	money	NOUN
cblr-1707	1246	44	safely	safely	ADV
cblr-1707	1246	45	than	than	ADP
cblr-1707	1246	46	a	a	DET
cblr-1707	1246	47	bank	bank	NOUN
cblr-1707	1246	48	of	of	ADP
cblr-1707	1246	49	which	which	PRON
cblr-1707	1246	50	the	the	DET
cblr-1707	1246	51	partners	partner	NOUN
cblr-1707	1246	52	belong	belong	VERB
cblr-1707	1246	53	to	to	ADP
cblr-1707	1246	54	that	that	DET
cblr-1707	1246	55	district	district	NOUN
cblr-1707	1246	56	,	,	PUNCT
cblr-1707	1246	57	and	and	CCONJ
cblr-1707	1246	58	know	know	VERB
cblr-1707	1246	59	the	the	DET
cblr-1707	1246	60	men	man	NOUN
cblr-1707	1246	61	and	and	CCONJ
cblr-1707	1246	62	things	thing	NOUN
cblr-1707	1246	63	in	in	ADP
cblr-1707	1246	64	it	it	PRON
cblr-1707	1246	65	.	.	PUNCT
cblr-1707	1246	66	.	.	PUNCT
cblr-1707	1246	67	.	.	PUNCT
cblr-1707	1246	68	.	.	PUNCT
cblr-1707	1247	1	the	the	DET
cblr-1707	1247	2	worst	bad	ADJ
cblr-1707	1247	3	people	people	NOUN
cblr-1707	1247	4	will	will	AUX
cblr-1707	1247	5	come	come	VERB
cblr-1707	1247	6	to	to	ADP
cblr-1707	1247	7	him	he	PRON
cblr-1707	1247	8	and	and	CCONJ
cblr-1707	1247	9	ask	ask	VERB
cblr-1707	1247	10	for	for	ADP
cblr-1707	1247	11	loans	loan	NOUN
cblr-1707	1247	12	.	.	PUNCT
cblr-1707	1248	1	his	his	PRON
cblr-1707	1248	2	ignorance	ignorance	NOUN
cblr-1707	1248	3	is	be	AUX
cblr-1707	1248	4	a	a	DET
cblr-1707	1248	5	mark	mark	NOUN
cblr-1707	1248	6	for	for	ADP
cblr-1707	1248	7	all	all	DET
cblr-1707	1248	8	the	the	DET
cblr-1707	1248	9	shrewd	shrewd	ADJ
cblr-1707	1248	10	and	and	CCONJ
cblr-1707	1248	11	crafty	crafty	ADJ
cblr-1707	1248	12	people	people	NOUN
cblr-1707	1248	13	thereabouts	thereabout	NOUN
cblr-1707	1248	14	.	.	PUNCT
cblr-1707	1248	15	”	"	PUNCT
cblr-1707	1248	16	)	)	PUNCT
cblr-1707	1248	17	.	.	PUNCT
cblr-1707	1249	1	222	222	NUM
cblr-1707	1249	2	see	see	VERB
cblr-1707	1249	3	ricks	rick	NOUN
cblr-1707	1249	4	,	,	PUNCT
cblr-1707	1249	5	supra	supra	PROPN
cblr-1707	1249	6	note	note	PROPN
cblr-1707	1249	7	19	19	NUM
cblr-1707	1249	8	,	,	PUNCT
cblr-1707	1249	9	at	at	ADP
cblr-1707	1249	10	204–12	204–12	NUM
cblr-1707	1249	11	;	;	PUNCT
cblr-1707	1249	12	black	black	PROPN
cblr-1707	1249	13	et	et	PROPN
cblr-1707	1249	14	al	al	PROPN
cblr-1707	1249	15	.	.	PROPN
cblr-1707	1249	16	,	,	PUNCT
cblr-1707	1249	17	supra	supra	PROPN
cblr-1707	1249	18	note	note	NOUN
cblr-1707	1249	19	139	139	NUM
cblr-1707	1249	20	.	.	PUNCT
cblr-1707	1250	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	1251	1	no	no	NOUN
cblr-1707	1251	2	.	.	PUNCT
cblr-1707	1252	1	3:757	3:757	NUM
cblr-1707	1252	2	]	]	X
cblr-1707	1252	3	money	money	NOUN
cblr-1707	1252	4	as	as	ADP
cblr-1707	1252	5	infrastructure	infrastructure	NOUN
cblr-1707	1252	6	825	825	NUM
cblr-1707	1252	7	credit	credit	NOUN
cblr-1707	1252	8	the	the	DET
cblr-1707	1252	9	banking	banking	NOUN
cblr-1707	1252	10	system	system	NOUN
cblr-1707	1252	11	should	should	AUX
cblr-1707	1252	12	extend	extend	VERB
cblr-1707	1252	13	.	.	PUNCT
cblr-1707	1253	1	ten	ten	NUM
cblr-1707	1253	2	trillion	trillion	NUM
cblr-1707	1253	3	dollars	dollar	NOUN
cblr-1707	1253	4	in	in	ADP
cblr-1707	1253	5	loans	loan	NOUN
cblr-1707	1253	6	and	and	CCONJ
cblr-1707	1253	7	bonds	bond	NOUN
cblr-1707	1253	8	can	can	AUX
cblr-1707	1253	9	be	be	AUX
cblr-1707	1253	10	held	hold	VERB
cblr-1707	1253	11	by	by	ADP
cblr-1707	1253	12	one	one	NUM
cblr-1707	1253	13	bank	bank	NOUN
cblr-1707	1253	14	or	or	CCONJ
cblr-1707	1253	15	split	split	VERB
cblr-1707	1253	16	between	between	ADP
cblr-1707	1253	17	ten	ten	NUM
cblr-1707	1253	18	banks	bank	NOUN
cblr-1707	1253	19	,	,	PUNCT
cblr-1707	1253	20	a	a	DET
cblr-1707	1253	21	hundred	hundred	NUM
cblr-1707	1253	22	banks	bank	NOUN
cblr-1707	1253	23	,	,	PUNCT
cblr-1707	1253	24	or	or	CCONJ
cblr-1707	1253	25	more	more	ADJ
cblr-1707	1253	26	.	.	PUNCT
cblr-1707	1254	1	second	second	ADV
cblr-1707	1254	2	,	,	PUNCT
cblr-1707	1254	3	the	the	DET
cblr-1707	1254	4	question	question	NOUN
cblr-1707	1254	5	is	be	AUX
cblr-1707	1254	6	not	not	PART
cblr-1707	1254	7	(	(	PUNCT
cblr-1707	1254	8	necessarily	necessarily	ADV
cblr-1707	1254	9	)	)	PUNCT
cblr-1707	1254	10	about	about	ADP
cblr-1707	1254	11	the	the	DET
cblr-1707	1254	12	distribution	distribution	NOUN
cblr-1707	1254	13	of	of	ADP
cblr-1707	1254	14	credit	credit	NOUN
cblr-1707	1254	15	.	.	PUNCT
cblr-1707	1255	1	the	the	DET
cblr-1707	1255	2	number	number	NOUN
cblr-1707	1255	3	of	of	ADP
cblr-1707	1255	4	chartered	charter	VERB
cblr-1707	1255	5	banks	bank	NOUN
cblr-1707	1255	6	has	have	VERB
cblr-1707	1255	7	no	no	DET
cblr-1707	1255	8	necessary	necessary	ADJ
cblr-1707	1255	9	relation	relation	NOUN
cblr-1707	1255	10	to	to	PART
cblr-1707	1255	11	who	who	PRON
cblr-1707	1255	12	gets	get	VERB
cblr-1707	1255	13	a	a	DET
cblr-1707	1255	14	bank	bank	NOUN
cblr-1707	1255	15	loan	loan	NOUN
cblr-1707	1255	16	.	.	PUNCT
cblr-1707	1256	1	this	this	DET
cblr-1707	1256	2	point	point	NOUN
cblr-1707	1256	3	will	will	AUX
cblr-1707	1256	4	be	be	AUX
cblr-1707	1256	5	discussed	discuss	VERB
cblr-1707	1256	6	with	with	ADP
cblr-1707	1256	7	a	a	DET
cblr-1707	1256	8	caveat	caveat	NOUN
cblr-1707	1256	9	below	below	ADV
cblr-1707	1256	10	;	;	PUNCT
cblr-1707	1256	11	for	for	ADP
cblr-1707	1256	12	now	now	ADV
cblr-1707	1256	13	,	,	PUNCT
cblr-1707	1256	14	assume	assume	VERB
cblr-1707	1256	15	that	that	SCONJ
cblr-1707	1256	16	the	the	DET
cblr-1707	1256	17	number	number	NOUN
cblr-1707	1256	18	of	of	ADP
cblr-1707	1256	19	chartered	charter	VERB
cblr-1707	1256	20	banks	bank	NOUN
cblr-1707	1256	21	has	have	VERB
cblr-1707	1256	22	no	no	DET
cblr-1707	1256	23	influence	influence	NOUN
cblr-1707	1256	24	on	on	ADP
cblr-1707	1256	25	the	the	DET
cblr-1707	1256	26	total	total	ADJ
cblr-1707	1256	27	quantity	quantity	NOUN
cblr-1707	1256	28	or	or	CCONJ
cblr-1707	1256	29	distribution	distribution	NOUN
cblr-1707	1256	30	of	of	ADP
cblr-1707	1256	31	bank	bank	NOUN
cblr-1707	1256	32	loans	loan	NOUN
cblr-1707	1256	33	.	.	PUNCT
cblr-1707	1257	1	how	how	SCONJ
cblr-1707	1257	2	then	then	ADV
cblr-1707	1257	3	should	should	AUX
cblr-1707	1257	4	the	the	DET
cblr-1707	1257	5	central	central	ADJ
cblr-1707	1257	6	bank	bank	NOUN
cblr-1707	1257	7	decide	decide	VERB
cblr-1707	1257	8	how	how	SCONJ
cblr-1707	1257	9	many	many	ADJ
cblr-1707	1257	10	banks	bank	NOUN
cblr-1707	1257	11	to	to	ADP
cblr-1707	1257	12	charter	charter	NOUN
cblr-1707	1257	13	?	?	PUNCT
cblr-1707	1258	1	consider	consider	VERB
cblr-1707	1258	2	the	the	DET
cblr-1707	1258	3	question	question	NOUN
cblr-1707	1258	4	from	from	ADP
cblr-1707	1258	5	a	a	DET
cblr-1707	1258	6	portfolio	portfolio	NOUN
cblr-1707	1258	7	management	management	NOUN
cblr-1707	1258	8	perspective	perspective	NOUN
cblr-1707	1258	9	.	.	PUNCT
cblr-1707	1259	1	it	it	PRON
cblr-1707	1259	2	would	would	AUX
cblr-1707	1259	3	be	be	AUX
cblr-1707	1259	4	foolish	foolish	ADJ
cblr-1707	1259	5	to	to	PART
cblr-1707	1259	6	entrust	entrust	VERB
cblr-1707	1259	7	the	the	DET
cblr-1707	1259	8	whole	whole	ADJ
cblr-1707	1259	9	portfolio	portfolio	NOUN
cblr-1707	1259	10	to	to	ADP
cblr-1707	1259	11	a	a	DET
cblr-1707	1259	12	single	single	ADJ
cblr-1707	1259	13	manager	manager	NOUN
cblr-1707	1259	14	.	.	PUNCT
cblr-1707	1260	1	no	no	DET
cblr-1707	1260	2	large	large	ADJ
cblr-1707	1260	3	endowment	endowment	NOUN
cblr-1707	1260	4	would	would	AUX
cblr-1707	1260	5	put	put	VERB
cblr-1707	1260	6	all	all	DET
cblr-1707	1260	7	its	its	PRON
cblr-1707	1260	8	eggs	egg	NOUN
cblr-1707	1260	9	in	in	ADP
cblr-1707	1260	10	one	one	NUM
cblr-1707	1260	11	basket	basket	NOUN
cblr-1707	1260	12	.	.	PUNCT
cblr-1707	1261	1	diversification	diversification	NOUN
cblr-1707	1261	2	among	among	ADP
cblr-1707	1261	3	managers	manager	NOUN
cblr-1707	1261	4	is	be	AUX
cblr-1707	1261	5	called	call	VERB
cblr-1707	1261	6	for	for	ADP
cblr-1707	1261	7	;	;	PUNCT
cblr-1707	1261	8	if	if	SCONJ
cblr-1707	1261	9	one	one	NUM
cblr-1707	1261	10	or	or	CCONJ
cblr-1707	1261	11	a	a	DET
cblr-1707	1261	12	few	few	ADJ
cblr-1707	1261	13	franchisees	franchisee	NOUN
cblr-1707	1261	14	turn	turn	VERB
cblr-1707	1261	15	out	out	ADP
cblr-1707	1261	16	to	to	PART
cblr-1707	1261	17	be	be	AUX
cblr-1707	1261	18	inept	inept	ADJ
cblr-1707	1261	19	or	or	CCONJ
cblr-1707	1261	20	corrupt	corrupt	ADJ
cblr-1707	1261	21	,	,	PUNCT
cblr-1707	1261	22	the	the	DET
cblr-1707	1261	23	damage	damage	NOUN
cblr-1707	1261	24	is	be	AUX
cblr-1707	1261	25	limited	limited	ADJ
cblr-1707	1261	26	.	.	PUNCT
cblr-1707	1262	1	on	on	ADP
cblr-1707	1262	2	the	the	DET
cblr-1707	1262	3	other	other	ADJ
cblr-1707	1262	4	hand	hand	NOUN
cblr-1707	1262	5	,	,	PUNCT
cblr-1707	1262	6	adding	add	VERB
cblr-1707	1262	7	new	new	ADJ
cblr-1707	1262	8	managers	manager	NOUN
cblr-1707	1262	9	is	be	AUX
cblr-1707	1262	10	administratively	administratively	ADV
cblr-1707	1262	11	costly	costly	ADJ
cblr-1707	1262	12	,	,	PUNCT
cblr-1707	1262	13	since	since	SCONJ
cblr-1707	1262	14	they	they	PRON
cblr-1707	1262	15	must	must	AUX
cblr-1707	1262	16	be	be	AUX
cblr-1707	1262	17	monitored	monitor	VERB
cblr-1707	1262	18	(	(	PUNCT
cblr-1707	1262	19	the	the	DET
cblr-1707	1262	20	bank	bank	NOUN
cblr-1707	1262	21	supervisory	supervisory	ADJ
cblr-1707	1262	22	function	function	NOUN
cblr-1707	1262	23	)	)	PUNCT
cblr-1707	1262	24	.	.	PUNCT
cblr-1707	1263	1	and	and	CCONJ
cblr-1707	1263	2	there	there	PRON
cblr-1707	1263	3	is	be	VERB
cblr-1707	1263	4	a	a	DET
cblr-1707	1263	5	subtler	subtler	NOUN
cblr-1707	1263	6	,	,	PUNCT
cblr-1707	1263	7	but	but	CCONJ
cblr-1707	1263	8	even	even	ADV
cblr-1707	1263	9	more	more	ADV
cblr-1707	1263	10	important	important	ADJ
cblr-1707	1263	11	,	,	PUNCT
cblr-1707	1263	12	cost	cost	NOUN
cblr-1707	1263	13	to	to	ADP
cblr-1707	1263	14	adding	add	VERB
cblr-1707	1263	15	new	new	ADJ
cblr-1707	1263	16	managers	manager	NOUN
cblr-1707	1263	17	:	:	PUNCT
cblr-1707	1263	18	for	for	ADP
cblr-1707	1263	19	any	any	DET
cblr-1707	1263	20	given	give	VERB
cblr-1707	1263	21	set	set	NOUN
cblr-1707	1263	22	of	of	ADP
cblr-1707	1263	23	underlying	underlie	VERB
cblr-1707	1263	24	investments	investment	NOUN
cblr-1707	1263	25	and	and	CCONJ
cblr-1707	1263	26	any	any	DET
cblr-1707	1263	27	given	give	VERB
cblr-1707	1263	28	aggregate	aggregate	ADJ
cblr-1707	1263	29	quantity	quantity	NOUN
cblr-1707	1263	30	of	of	ADP
cblr-1707	1263	31	first	first	ADJ
cblr-1707	1263	32	-	-	PUNCT
cblr-1707	1263	33	loss	loss	NOUN
cblr-1707	1263	34	equity	equity	NOUN
cblr-1707	1263	35	,	,	PUNCT
cblr-1707	1263	36	combining	combine	VERB
cblr-1707	1263	37	portfolios	portfolio	NOUN
cblr-1707	1263	38	reduces	reduce	VERB
cblr-1707	1263	39	risk	risk	NOUN
cblr-1707	1263	40	to	to	ADP
cblr-1707	1263	41	the	the	DET
cblr-1707	1263	42	senior	senior	ADJ
cblr-1707	1263	43	claimant	claimant	NOUN
cblr-1707	1263	44	(	(	PUNCT
cblr-1707	1263	45	in	in	ADP
cblr-1707	1263	46	this	this	DET
cblr-1707	1263	47	case	case	NOUN
cblr-1707	1263	48	,	,	PUNCT
cblr-1707	1263	49	the	the	DET
cblr-1707	1263	50	government).223	government).223	PROPN
cblr-1707	1263	51	this	this	DET
cblr-1707	1263	52	factor	factor	NOUN
cblr-1707	1263	53	weighs	weigh	VERB
cblr-1707	1263	54	in	in	ADP
cblr-1707	1263	55	favor	favor	NOUN
cblr-1707	1263	56	of	of	ADP
cblr-1707	1263	57	fewer	few	ADJ
cblr-1707	1263	58	franchisees	franchisee	NOUN
cblr-1707	1263	59	with	with	ADP
cblr-1707	1263	60	larger	large	ADJ
cblr-1707	1263	61	portfolios	portfolio	NOUN
cblr-1707	1263	62	.	.	PUNCT
cblr-1707	1264	1	indeed	indeed	ADV
cblr-1707	1264	2	,	,	PUNCT
cblr-1707	1264	3	if	if	SCONJ
cblr-1707	1264	4	diversification	diversification	NOUN
cblr-1707	1264	5	among	among	ADP
cblr-1707	1264	6	managers	manager	NOUN
cblr-1707	1264	7	was	be	AUX
cblr-1707	1264	8	not	not	PART
cblr-1707	1264	9	an	an	DET
cblr-1707	1264	10	issue	issue	NOUN
cblr-1707	1264	11	,	,	PUNCT
cblr-1707	1264	12	a	a	DET
cblr-1707	1264	13	single	single	ADJ
cblr-1707	1264	14	franchisee	franchisee	NOUN
cblr-1707	1264	15	would	would	AUX
cblr-1707	1264	16	be	be	AUX
cblr-1707	1264	17	optimal	optimal	ADJ
cblr-1707	1264	18	.	.	PUNCT
cblr-1707	1265	1	these	these	DET
cblr-1707	1265	2	portfolio	portfolio	NOUN
cblr-1707	1265	3	-	-	PUNCT
cblr-1707	1265	4	management	management	NOUN
cblr-1707	1265	5	considerations	consideration	NOUN
cblr-1707	1265	6	suggest	suggest	VERB
cblr-1707	1265	7	a	a	DET
cblr-1707	1265	8	basis	basis	NOUN
cblr-1707	1265	9	for	for	ADP
cblr-1707	1265	10	determining	determine	VERB
cblr-1707	1265	11	the	the	DET
cblr-1707	1265	12	optimal	optimal	ADJ
cblr-1707	1265	13	number	number	NOUN
cblr-1707	1265	14	of	of	ADP
cblr-1707	1265	15	chartered	charter	VERB
cblr-1707	1265	16	banks	bank	NOUN
cblr-1707	1265	17	.	.	PUNCT
cblr-1707	1266	1	the	the	DET
cblr-1707	1266	2	benefits	benefit	NOUN
cblr-1707	1266	3	of	of	ADP
cblr-1707	1266	4	more	more	ADJ
cblr-1707	1266	5	franchisees	franchisee	NOUN
cblr-1707	1266	6	(	(	PUNCT
cblr-1707	1266	7	greater	great	ADJ
cblr-1707	1266	8	manager	manager	NOUN
cblr-1707	1266	9	diversification	diversification	NOUN
cblr-1707	1266	10	)	)	PUNCT
cblr-1707	1266	11	should	should	AUX
cblr-1707	1266	12	be	be	AUX
cblr-1707	1266	13	weighed	weigh	VERB
cblr-1707	1266	14	against	against	ADP
cblr-1707	1266	15	the	the	DET
cblr-1707	1266	16	costs	cost	NOUN
cblr-1707	1266	17	(	(	PUNCT
cblr-1707	1266	18	administrative	administrative	ADJ
cblr-1707	1266	19	costs	cost	NOUN
cblr-1707	1266	20	,	,	PUNCT
cblr-1707	1266	21	plus	plus	CCONJ
cblr-1707	1266	22	portfolio	portfolio	NOUN
cblr-1707	1266	23	risk	risk	NOUN
cblr-1707	1266	24	to	to	ADP
cblr-1707	1266	25	the	the	DET
cblr-1707	1266	26	government	government	NOUN
cblr-1707	1266	27	per	per	ADP
cblr-1707	1266	28	unit	unit	NOUN
cblr-1707	1266	29	of	of	ADP
cblr-1707	1266	30	money	money	NOUN
cblr-1707	1266	31	issued	issue	VERB
cblr-1707	1266	32	)	)	PUNCT
cblr-1707	1266	33	.	.	PUNCT
cblr-1707	1267	1	while	while	SCONJ
cblr-1707	1267	2	this	this	DET
cblr-1707	1267	3	article	article	NOUN
cblr-1707	1267	4	does	do	AUX
cblr-1707	1267	5	not	not	PART
cblr-1707	1267	6	223	223	NUM
cblr-1707	1267	7	the	the	DET
cblr-1707	1267	8	central	central	ADJ
cblr-1707	1267	9	bank	bank	NOUN
cblr-1707	1267	10	as	as	ADP
cblr-1707	1267	11	senior	senior	ADJ
cblr-1707	1267	12	claimant	claimant	NOUN
cblr-1707	1267	13	in	in	ADP
cblr-1707	1267	14	effect	effect	NOUN
cblr-1707	1267	15	has	have	AUX
cblr-1707	1267	16	written	write	VERB
cblr-1707	1267	17	a	a	DET
cblr-1707	1267	18	“	"	PUNCT
cblr-1707	1267	19	put	put	NOUN
cblr-1707	1267	20	option	option	NOUN
cblr-1707	1267	21	”	"	PUNCT
cblr-1707	1267	22	on	on	ADP
cblr-1707	1267	23	each	each	DET
cblr-1707	1267	24	franchisee	franchisee	NOUN
cblr-1707	1267	25	’s	’s	PART
cblr-1707	1267	26	portfolio	portfolio	NOUN
cblr-1707	1267	27	.	.	PUNCT
cblr-1707	1268	1	it	it	PRON
cblr-1707	1268	2	owns	own	VERB
cblr-1707	1268	3	a	a	DET
cblr-1707	1268	4	portfolio	portfolio	NOUN
cblr-1707	1268	5	of	of	ADP
cblr-1707	1268	6	options	option	NOUN
cblr-1707	1268	7	,	,	PUNCT
cblr-1707	1268	8	one	one	NUM
cblr-1707	1268	9	for	for	ADP
cblr-1707	1268	10	each	each	DET
cblr-1707	1268	11	franchisee	franchisee	NOUN
cblr-1707	1268	12	.	.	PUNCT
cblr-1707	1269	1	assuming	assume	VERB
cblr-1707	1269	2	the	the	DET
cblr-1707	1269	3	central	central	ADJ
cblr-1707	1269	4	bank	bank	NOUN
cblr-1707	1269	5	wants	want	VERB
cblr-1707	1269	6	a	a	DET
cblr-1707	1269	7	safe	safe	ADJ
cblr-1707	1269	8	portfolio	portfolio	NOUN
cblr-1707	1269	9	,	,	PUNCT
cblr-1707	1269	10	it	it	PRON
cblr-1707	1269	11	will	will	AUX
cblr-1707	1269	12	seek	seek	VERB
cblr-1707	1269	13	to	to	PART
cblr-1707	1269	14	minimize	minimize	VERB
cblr-1707	1269	15	the	the	DET
cblr-1707	1269	16	fair	fair	ADJ
cblr-1707	1269	17	value	value	NOUN
cblr-1707	1269	18	of	of	ADP
cblr-1707	1269	19	the	the	DET
cblr-1707	1269	20	options	option	NOUN
cblr-1707	1269	21	it	it	PRON
cblr-1707	1269	22	writes	write	VERB
cblr-1707	1269	23	.	.	PUNCT
cblr-1707	1270	1	it	it	PRON
cblr-1707	1270	2	is	be	AUX
cblr-1707	1270	3	an	an	DET
cblr-1707	1270	4	axiom	axiom	NOUN
cblr-1707	1270	5	of	of	ADP
cblr-1707	1270	6	options	option	NOUN
cblr-1707	1270	7	theory	theory	NOUN
cblr-1707	1270	8	that	that	SCONJ
cblr-1707	1270	9	an	an	DET
cblr-1707	1270	10	“	"	PUNCT
cblr-1707	1270	11	option	option	NOUN
cblr-1707	1270	12	on	on	ADP
cblr-1707	1270	13	a	a	DET
cblr-1707	1270	14	portfolio	portfolio	NOUN
cblr-1707	1270	15	”	"	PUNCT
cblr-1707	1270	16	costs	cost	NOUN
cblr-1707	1270	17	less	less	ADJ
cblr-1707	1270	18	than	than	ADP
cblr-1707	1270	19	a	a	DET
cblr-1707	1270	20	“	"	PUNCT
cblr-1707	1270	21	portfolio	portfolio	NOUN
cblr-1707	1270	22	of	of	ADP
cblr-1707	1270	23	options	option	NOUN
cblr-1707	1270	24	.	.	PUNCT
cblr-1707	1270	25	”	"	PUNCT
cblr-1707	1271	1	see	see	VERB
cblr-1707	1271	2	robert	robert	PROPN
cblr-1707	1271	3	c.	c.	PROPN
cblr-1707	1271	4	merton	merton	PROPN
cblr-1707	1271	5	,	,	PUNCT
cblr-1707	1271	6	theory	theory	NOUN
cblr-1707	1271	7	of	of	ADP
cblr-1707	1271	8	rational	rational	ADJ
cblr-1707	1271	9	option	option	NOUN
cblr-1707	1271	10	pricing	pricing	NOUN
cblr-1707	1271	11	,	,	PUNCT
cblr-1707	1271	12	4	4	NUM
cblr-1707	1271	13	bell	bell	PROPN
cblr-1707	1271	14	j.	j.	PROPN
cblr-1707	1271	15	econ	econ	PROPN
cblr-1707	1271	16	.	.	PROPN
cblr-1707	1271	17	&	&	CCONJ
cblr-1707	1271	18	mgmt	mgmt	PROPN
cblr-1707	1271	19	sci	sci	PROPN
cblr-1707	1271	20	.	.	PROPN
cblr-1707	1271	21	141	141	NUM
cblr-1707	1271	22	,	,	PUNCT
cblr-1707	1271	23	148	148	NUM
cblr-1707	1271	24	(	(	PUNCT
cblr-1707	1271	25	1973	1973	NUM
cblr-1707	1271	26	)	)	PUNCT
cblr-1707	1271	27	.	.	PUNCT
cblr-1707	1272	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	1272	2	826	826	NUM
cblr-1707	1272	3	columbia	columbia	PROPN
cblr-1707	1272	4	business	business	NOUN
cblr-1707	1272	5	law	law	PROPN
cblr-1707	1272	6	review	review	NOUN
cblr-1707	1273	1	[	[	X
cblr-1707	1273	2	vol	vol	NOUN
cblr-1707	1273	3	.	.	PUNCT
cblr-1707	1273	4	2018	2018	NUM
cblr-1707	1273	5	undertake	undertake	VERB
cblr-1707	1273	6	a	a	DET
cblr-1707	1273	7	quantitative	quantitative	ADJ
cblr-1707	1273	8	estimate	estimate	NOUN
cblr-1707	1273	9	,	,	PUNCT
cblr-1707	1273	10	it	it	PRON
cblr-1707	1273	11	strains	strain	VERB
cblr-1707	1273	12	belief	belief	NOUN
cblr-1707	1273	13	to	to	PART
cblr-1707	1273	14	think	think	VERB
cblr-1707	1273	15	the	the	DET
cblr-1707	1273	16	optimal	optimal	ADJ
cblr-1707	1273	17	number	number	NOUN
cblr-1707	1273	18	of	of	ADP
cblr-1707	1273	19	banks	bank	NOUN
cblr-1707	1273	20	on	on	ADP
cblr-1707	1273	21	these	these	DET
cblr-1707	1273	22	criteria	criterion	NOUN
cblr-1707	1273	23	should	should	AUX
cblr-1707	1273	24	be	be	AUX
cblr-1707	1273	25	as	as	ADV
cblr-1707	1273	26	numerous	numerous	ADJ
cblr-1707	1273	27	as	as	ADP
cblr-1707	1273	28	the	the	DET
cblr-1707	1273	29	5700	5700	NUM
cblr-1707	1273	30	insured	insure	VERB
cblr-1707	1273	31	banks	bank	NOUN
cblr-1707	1273	32	in	in	ADP
cblr-1707	1273	33	the	the	DET
cblr-1707	1273	34	united	united	PROPN
cblr-1707	1273	35	states	states	PROPN
cblr-1707	1273	36	today.224	today.224	NOUN
cblr-1707	1273	37	even	even	ADV
cblr-1707	1273	38	less	less	ADV
cblr-1707	1273	39	plausible	plausible	ADJ
cblr-1707	1273	40	is	be	AUX
cblr-1707	1273	41	that	that	SCONJ
cblr-1707	1273	42	they	they	PRON
cblr-1707	1273	43	should	should	AUX
cblr-1707	1273	44	vary	vary	VERB
cblr-1707	1273	45	in	in	ADP
cblr-1707	1273	46	size	size	NOUN
cblr-1707	1273	47	from	from	ADP
cblr-1707	1273	48	tiny	tiny	ADJ
cblr-1707	1273	49	to	to	AUX
cblr-1707	1273	50	huge	huge	ADJ
cblr-1707	1273	51	,	,	PUNCT
cblr-1707	1273	52	with	with	ADP
cblr-1707	1273	53	the	the	DET
cblr-1707	1273	54	largest	large	ADJ
cblr-1707	1273	55	insured	insured	ADJ
cblr-1707	1273	56	bank	bank	NOUN
cblr-1707	1273	57	exceeding	exceed	VERB
cblr-1707	1273	58	the	the	DET
cblr-1707	1273	59	smallest	small	ADJ
cblr-1707	1273	60	by	by	ADP
cblr-1707	1273	61	a	a	DET
cblr-1707	1273	62	factor	factor	NOUN
cblr-1707	1273	63	of	of	ADP
cblr-1707	1273	64	over	over	ADP
cblr-1707	1273	65	600,000.225	600,000.225	PROPN
cblr-1707	1273	66	surely	surely	ADV
cblr-1707	1273	67	,	,	PUNCT
cblr-1707	1273	68	one	one	NUM
cblr-1707	1273	69	hundred	hundred	NUM
cblr-1707	1273	70	banks	bank	NOUN
cblr-1707	1273	71	of	of	ADP
cblr-1707	1273	72	roughly	roughly	ADV
cblr-1707	1273	73	equal	equal	ADJ
cblr-1707	1273	74	size	size	NOUN
cblr-1707	1273	75	,	,	PUNCT
cblr-1707	1273	76	with	with	ADP
cblr-1707	1273	77	each	each	PRON
cblr-1707	1273	78	managing	manage	VERB
cblr-1707	1273	79	about	about	ADV
cblr-1707	1273	80	one	one	NUM
cblr-1707	1273	81	percent	percent	NOUN
cblr-1707	1273	82	of	of	ADP
cblr-1707	1273	83	the	the	DET
cblr-1707	1273	84	total	total	ADJ
cblr-1707	1273	85	portfolio	portfolio	NOUN
cblr-1707	1273	86	,	,	PUNCT
cblr-1707	1273	87	would	would	AUX
cblr-1707	1273	88	provide	provide	VERB
cblr-1707	1273	89	ample	ample	ADJ
cblr-1707	1273	90	manager	manager	NOUN
cblr-1707	1273	91	diversification	diversification	NOUN
cblr-1707	1273	92	—	—	PUNCT
cblr-1707	1273	93	maybe	maybe	ADV
cblr-1707	1273	94	much	much	ADV
cblr-1707	1273	95	more	more	ADJ
cblr-1707	1273	96	than	than	SCONJ
cblr-1707	1273	97	needed	need	VERB
cblr-1707	1273	98	.	.	PUNCT
cblr-1707	1274	1	now	now	ADV
cblr-1707	1274	2	for	for	ADP
cblr-1707	1274	3	the	the	DET
cblr-1707	1274	4	caveat	caveat	NOUN
cblr-1707	1274	5	,	,	PUNCT
cblr-1707	1274	6	which	which	PRON
cblr-1707	1274	7	relates	relate	VERB
cblr-1707	1274	8	to	to	ADP
cblr-1707	1274	9	credit	credit	NOUN
cblr-1707	1274	10	distribution	distribution	NOUN
cblr-1707	1274	11	.	.	PUNCT
cblr-1707	1275	1	there	there	PRON
cblr-1707	1275	2	is	be	VERB
cblr-1707	1275	3	a	a	DET
cblr-1707	1275	4	widespread	widespread	ADJ
cblr-1707	1275	5	sense	sense	NOUN
cblr-1707	1275	6	that	that	SCONJ
cblr-1707	1275	7	smaller	small	ADJ
cblr-1707	1275	8	,	,	PUNCT
cblr-1707	1275	9	community	community	NOUN
cblr-1707	1275	10	banks	bank	NOUN
cblr-1707	1275	11	serve	serve	VERB
cblr-1707	1275	12	a	a	DET
cblr-1707	1275	13	distinctive	distinctive	ADJ
cblr-1707	1275	14	and	and	CCONJ
cblr-1707	1275	15	important	important	ADJ
cblr-1707	1275	16	role	role	NOUN
cblr-1707	1275	17	in	in	ADP
cblr-1707	1275	18	supplying	supply	VERB
cblr-1707	1275	19	“	"	PUNCT
cblr-1707	1275	20	relationship	relationship	NOUN
cblr-1707	1275	21	”	"	PUNCT
cblr-1707	1275	22	loans	loan	NOUN
cblr-1707	1275	23	to	to	ADP
cblr-1707	1275	24	certain	certain	ADJ
cblr-1707	1275	25	classes	class	NOUN
cblr-1707	1275	26	of	of	ADP
cblr-1707	1275	27	borrowers	borrower	NOUN
cblr-1707	1275	28	,	,	PUNCT
cblr-1707	1275	29	such	such	ADJ
cblr-1707	1275	30	as	as	ADP
cblr-1707	1275	31	small	small	ADJ
cblr-1707	1275	32	businesses	business	NOUN
cblr-1707	1275	33	.	.	PUNCT
cblr-1707	1276	1	if	if	SCONJ
cblr-1707	1276	2	true	true	ADJ
cblr-1707	1276	3	,	,	PUNCT
cblr-1707	1276	4	this	this	PRON
cblr-1707	1276	5	would	would	AUX
cblr-1707	1276	6	weigh	weigh	VERB
cblr-1707	1276	7	in	in	ADP
cblr-1707	1276	8	favor	favor	NOUN
cblr-1707	1276	9	of	of	ADP
cblr-1707	1276	10	chartering	charter	VERB
cblr-1707	1276	11	larger	large	ADJ
cblr-1707	1276	12	numbers	number	NOUN
cblr-1707	1276	13	of	of	ADP
cblr-1707	1276	14	smaller	small	ADJ
cblr-1707	1276	15	banks	bank	NOUN
cblr-1707	1276	16	.	.	PUNCT
cblr-1707	1277	1	but	but	CCONJ
cblr-1707	1277	2	these	these	DET
cblr-1707	1277	3	claims	claim	NOUN
cblr-1707	1277	4	should	should	AUX
cblr-1707	1277	5	be	be	AUX
cblr-1707	1277	6	treated	treat	VERB
cblr-1707	1277	7	with	with	ADP
cblr-1707	1277	8	some	some	DET
cblr-1707	1277	9	caution	caution	NOUN
cblr-1707	1277	10	.	.	PUNCT
cblr-1707	1278	1	empirically	empirically	ADV
cblr-1707	1278	2	,	,	PUNCT
cblr-1707	1278	3	there	there	PRON
cblr-1707	1278	4	are	be	VERB
cblr-1707	1278	5	reasons	reason	NOUN
cblr-1707	1278	6	to	to	PART
cblr-1707	1278	7	question	question	VERB
cblr-1707	1278	8	the	the	DET
cblr-1707	1278	9	extent	extent	NOUN
cblr-1707	1278	10	of	of	ADP
cblr-1707	1278	11	small	small	ADJ
cblr-1707	1278	12	business	business	NOUN
cblr-1707	1278	13	’	'	PUNCT
cblr-1707	1278	14	reliance	reliance	NOUN
cblr-1707	1278	15	on	on	ADP
cblr-1707	1278	16	“	"	PUNCT
cblr-1707	1278	17	relationship	relationship	NOUN
cblr-1707	1278	18	”	"	PUNCT
cblr-1707	1278	19	loans,226	loans,226	PROPN
cblr-1707	1278	20	as	as	ADV
cblr-1707	1278	21	well	well	ADV
cblr-1707	1278	22	as	as	ADP
cblr-1707	1278	23	their	their	PRON
cblr-1707	1278	24	assumed	assume	VERB
cblr-1707	1278	25	preference	preference	NOUN
cblr-1707	1278	26	for	for	ADP
cblr-1707	1278	27	borrowing	borrow	VERB
cblr-1707	1278	28	from	from	ADP
cblr-1707	1278	29	community	community	NOUN
cblr-1707	1278	30	banks.227	banks.227	PROPN
cblr-1707	1278	31	moreover	moreover	ADV
cblr-1707	1278	32	,	,	PUNCT
cblr-1707	1278	33	concerns	concern	NOUN
cblr-1707	1278	34	about	about	ADP
cblr-1707	1278	35	credit	credit	NOUN
cblr-1707	1278	36	distribution	distribution	NOUN
cblr-1707	1278	37	might	might	AUX
cblr-1707	1278	38	be	be	AUX
cblr-1707	1278	39	better	well	ADV
cblr-1707	1278	40	addressed	address	VERB
cblr-1707	1278	41	through	through	ADP
cblr-1707	1278	42	regulatory	regulatory	ADJ
cblr-1707	1278	43	mechanisms	mechanism	NOUN
cblr-1707	1278	44	or	or	CCONJ
cblr-1707	1278	45	direct	direct	ADJ
cblr-1707	1278	46	subsidies	subsidy	NOUN
cblr-1707	1278	47	rather	rather	ADV
cblr-1707	1278	48	than	than	ADP
cblr-1707	1278	49	by	by	ADP
cblr-1707	1278	50	chartering	charter	VERB
cblr-1707	1278	51	more	more	ADJ
cblr-1707	1278	52	banks	bank	NOUN
cblr-1707	1278	53	.	.	PUNCT
cblr-1707	1279	1	under	under	ADP
cblr-1707	1279	2	the	the	DET
cblr-1707	1279	3	community	community	NOUN
cblr-1707	1279	4	reinvestment	reinvestment	NOUN
cblr-1707	1279	5	act	act	PROPN
cblr-1707	1279	6	,	,	PUNCT
cblr-1707	1279	7	u.s	u.s	PROPN
cblr-1707	1279	8	.	.	PROPN
cblr-1707	1279	9	banks	bank	NOUN
cblr-1707	1279	10	are	be	AUX
cblr-1707	1279	11	required	require	VERB
cblr-1707	1279	12	to	to	PART
cblr-1707	1279	13	take	take	VERB
cblr-1707	1279	14	measures	measure	NOUN
cblr-1707	1279	15	to	to	ADP
cblr-1707	1279	16	“	"	PUNCT
cblr-1707	1279	17	[	[	X
cblr-1707	1279	18	meet	meet	VERB
cblr-1707	1279	19	]	]	PUNCT
cblr-1707	1279	20	the	the	DET
cblr-1707	1279	21	credit	credit	NOUN
cblr-1707	1279	22	needs	need	NOUN
cblr-1707	1279	23	of	of	ADP
cblr-1707	1279	24	[	[	X
cblr-1707	1279	25	their	their	PRON
cblr-1707	1279	26	]	]	PUNCT
cblr-1707	1279	27	entire	entire	ADJ
cblr-1707	1279	28	communit[ies	communit[ie	NOUN
cblr-1707	1279	29	]	]	X
cblr-1707	1279	30	,	,	PUNCT
cblr-1707	1279	31	including	include	VERB
cblr-1707	1279	32	low	low	ADJ
cblr-1707	1279	33	and	and	CCONJ
cblr-1707	1279	34	moderate	moderate	ADJ
cblr-1707	1279	35	-	-	PUNCT
cblr-1707	1279	36	income	income	NOUN
cblr-1707	1279	37	neighborhoods	neighborhood	NOUN
cblr-1707	1279	38	.	.	PUNCT
cblr-1707	1280	1	”228	”228	PROPN
cblr-1707	1280	2	and	and	CCONJ
cblr-1707	1280	3	explicit	explicit	ADJ
cblr-1707	1280	4	subsidies	subsidy	NOUN
cblr-1707	1280	5	for	for	ADP
cblr-1707	1280	6	small	small	ADJ
cblr-1707	1280	7	business	business	NOUN
cblr-1707	1280	8	lending	lending	NOUN
cblr-1707	1280	9	,	,	PUNCT
cblr-1707	1280	10	or	or	CCONJ
cblr-1707	1280	11	for	for	ADP
cblr-1707	1280	12	lending	lending	NOUN
cblr-1707	1280	13	to	to	ADP
cblr-1707	1280	14	other	other	ADJ
cblr-1707	1280	15	224	224	NUM
cblr-1707	1280	16	fed	feed	VERB
cblr-1707	1280	17	.	.	PUNCT
cblr-1707	1281	1	deposit	deposit	NOUN
cblr-1707	1281	2	ins	ins	PROPN
cblr-1707	1281	3	.	.	PUNCT
cblr-1707	1281	4	corp	corp	PROPN
cblr-1707	1281	5	.	.	PROPN
cblr-1707	1281	6	,	,	PUNCT
cblr-1707	1281	7	quarterly	quarterly	ADJ
cblr-1707	1281	8	banking	banking	NOUN
cblr-1707	1281	9	profile	profile	NOUN
cblr-1707	1281	10	,	,	PUNCT
cblr-1707	1281	11	fdic	fdic	PROPN
cblr-1707	1281	12	q.	q.	PROPN
cblr-1707	1281	13	,	,	PUNCT
cblr-1707	1281	14	third	third	ADJ
cblr-1707	1281	15	quarter	quarter	NOUN
cblr-1707	1281	16	2017	2017	NUM
cblr-1707	1281	17	,	,	PUNCT
cblr-1707	1281	18	at	at	ADP
cblr-1707	1281	19	1	1	NUM
cblr-1707	1281	20	.	.	NOUN
cblr-1707	1281	21	225	225	NUM
cblr-1707	1281	22	for	for	ADP
cblr-1707	1281	23	a	a	DET
cblr-1707	1281	24	list	list	NOUN
cblr-1707	1281	25	of	of	ADP
cblr-1707	1281	26	all	all	DET
cblr-1707	1281	27	fdic	fdic	ADJ
cblr-1707	1281	28	-	-	PUNCT
cblr-1707	1281	29	insured	insure	VERB
cblr-1707	1281	30	banks	bank	NOUN
cblr-1707	1281	31	by	by	ADP
cblr-1707	1281	32	asset	asset	NOUN
cblr-1707	1281	33	size	size	NOUN
cblr-1707	1281	34	,	,	PUNCT
cblr-1707	1281	35	see	see	VERB
cblr-1707	1281	36	details	detail	NOUN
cblr-1707	1281	37	and	and	CCONJ
cblr-1707	1281	38	financials	financial	NOUN
cblr-1707	1281	39	–	–	PUNCT
cblr-1707	1281	40	institution	institution	NOUN
cblr-1707	1281	41	directory	directory	NOUN
cblr-1707	1281	42	,	,	PUNCT
cblr-1707	1281	43	fed	fed	PROPN
cblr-1707	1281	44	.	.	PUNCT
cblr-1707	1282	1	deposit	deposit	PROPN
cblr-1707	1282	2	ins	ins	PROPN
cblr-1707	1282	3	.	.	PUNCT
cblr-1707	1282	4	corp	corp	PROPN
cblr-1707	1282	5	.	.	PROPN
cblr-1707	1282	6	,	,	PUNCT
cblr-1707	1282	7	https://www5.fdic.gov/idasp/advsearchlanding.asp	https://www5.fdic.gov/idasp/advsearchlanding.asp	PUNCT
cblr-1707	1283	1	[	[	X
cblr-1707	1283	2	https://perma.cc/tk3d-naws	https://perma.cc/tk3d-naws	X
cblr-1707	1283	3	]	]	PUNCT
cblr-1707	1283	4	.	.	PUNCT
cblr-1707	1284	1	226	226	NUM
cblr-1707	1284	2	see	see	VERB
cblr-1707	1284	3	augusto	augusto	PROPN
cblr-1707	1284	4	de	de	X
cblr-1707	1284	5	la	la	X
cblr-1707	1284	6	torre	torre	PROPN
cblr-1707	1284	7	,	,	PUNCT
cblr-1707	1284	8	maría	maría	PROPN
cblr-1707	1284	9	soledad	soledad	PROPN
cblr-1707	1284	10	martínez	martínez	PROPN
cblr-1707	1284	11	pería	pería	PROPN
cblr-1707	1284	12	&	&	CCONJ
cblr-1707	1284	13	sergio	sergio	PROPN
cblr-1707	1284	14	l.	l.	PROPN
cblr-1707	1284	15	schmukler	schmukler	PROPN
cblr-1707	1284	16	,	,	PUNCT
cblr-1707	1284	17	bank	bank	NOUN
cblr-1707	1284	18	involvement	involvement	NOUN
cblr-1707	1284	19	with	with	ADP
cblr-1707	1284	20	smes	sme	NOUN
cblr-1707	1284	21	:	:	PUNCT
cblr-1707	1284	22	beyond	beyond	ADP
cblr-1707	1284	23	relationship	relationship	NOUN
cblr-1707	1284	24	lending	lending	NOUN
cblr-1707	1284	25	,	,	PUNCT
cblr-1707	1284	26	34	34	NUM
cblr-1707	1284	27	j.	j.	PROPN
cblr-1707	1284	28	banking	banking	PROPN
cblr-1707	1284	29	&	&	CCONJ
cblr-1707	1284	30	fin	fin	PROPN
cblr-1707	1284	31	.	.	PUNCT
cblr-1707	1285	1	2280	2280	NUM
cblr-1707	1285	2	(	(	PUNCT
cblr-1707	1285	3	2010	2010	NUM
cblr-1707	1285	4	)	)	PUNCT
cblr-1707	1285	5	.	.	PUNCT
cblr-1707	1286	1	227	227	NUM
cblr-1707	1286	2	see	see	VERB
cblr-1707	1286	3	allen	allen	PROPN
cblr-1707	1286	4	n.	n.	PROPN
cblr-1707	1286	5	berger	berger	PROPN
cblr-1707	1286	6	,	,	PUNCT
cblr-1707	1286	7	william	william	PROPN
cblr-1707	1286	8	goulding	goulding	PROPN
cblr-1707	1286	9	&	&	CCONJ
cblr-1707	1286	10	tara	tara	PROPN
cblr-1707	1286	11	rice	rice	PROPN
cblr-1707	1286	12	,	,	PUNCT
cblr-1707	1286	13	do	do	AUX
cblr-1707	1286	14	small	small	ADJ
cblr-1707	1286	15	businesses	business	NOUN
cblr-1707	1286	16	still	still	ADV
cblr-1707	1286	17	prefer	prefer	VERB
cblr-1707	1286	18	community	community	NOUN
cblr-1707	1286	19	banks	bank	NOUN
cblr-1707	1286	20	?	?	PUNCT
cblr-1707	1286	21	,	,	PUNCT
cblr-1707	1286	22	44	44	NUM
cblr-1707	1286	23	j.	j.	PROPN
cblr-1707	1286	24	banking	banking	PROPN
cblr-1707	1286	25	&	&	CCONJ
cblr-1707	1286	26	fin	fin	PROPN
cblr-1707	1286	27	.	.	PUNCT
cblr-1707	1286	28	264	264	NUM
cblr-1707	1286	29	,	,	PUNCT
cblr-1707	1286	30	264	264	NUM
cblr-1707	1286	31	(	(	PUNCT
cblr-1707	1286	32	2014	2014	NUM
cblr-1707	1286	33	)	)	PUNCT
cblr-1707	1286	34	.	.	PUNCT
cblr-1707	1287	1	228	228	NUM
cblr-1707	1287	2	12	12	NUM
cblr-1707	1287	3	u.s.c	u.s.c	NOUN
cblr-1707	1287	4	.	.	PUNCT
cblr-1707	1288	1	§	§	PROPN
cblr-1707	1288	2	2903(a)(1	2903(a)(1	NUM
cblr-1707	1288	3	)	)	PUNCT
cblr-1707	1288	4	.	.	PUNCT
cblr-1707	1289	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	1289	2	no	no	NOUN
cblr-1707	1289	3	.	.	PUNCT
cblr-1707	1290	1	3:757	3:757	NUM
cblr-1707	1290	2	]	]	X
cblr-1707	1290	3	money	money	NOUN
cblr-1707	1290	4	as	as	ADP
cblr-1707	1290	5	infrastructure	infrastructure	NOUN
cblr-1707	1290	6	827	827	NUM
cblr-1707	1290	7	market	market	NOUN
cblr-1707	1290	8	segments	segment	NOUN
cblr-1707	1290	9	,	,	PUNCT
cblr-1707	1290	10	do	do	AUX
cblr-1707	1290	11	not	not	PART
cblr-1707	1290	12	rely	rely	VERB
cblr-1707	1290	13	on	on	ADP
cblr-1707	1290	14	small	small	ADJ
cblr-1707	1290	15	banks	bank	NOUN
cblr-1707	1290	16	for	for	ADP
cblr-1707	1290	17	their	their	PRON
cblr-1707	1290	18	efficacy.229	efficacy.229	NOUN
cblr-1707	1290	19	finally	finally	ADV
cblr-1707	1290	20	,	,	PUNCT
cblr-1707	1290	21	and	and	CCONJ
cblr-1707	1290	22	most	most	ADV
cblr-1707	1290	23	importantly	importantly	ADV
cblr-1707	1290	24	,	,	PUNCT
cblr-1707	1290	25	banks	bank	NOUN
cblr-1707	1290	26	have	have	VERB
cblr-1707	1290	27	no	no	DET
cblr-1707	1290	28	legal	legal	ADJ
cblr-1707	1290	29	monopoly	monopoly	NOUN
cblr-1707	1290	30	on	on	ADP
cblr-1707	1290	31	extending	extend	VERB
cblr-1707	1290	32	credit.230	credit.230	NOUN
cblr-1707	1290	33	entry	entry	NOUN
cblr-1707	1290	34	into	into	ADP
cblr-1707	1290	35	lending	lending	NOUN
cblr-1707	1290	36	is	be	AUX
cblr-1707	1290	37	not	not	PART
cblr-1707	1290	38	restricted	restrict	VERB
cblr-1707	1290	39	.	.	PUNCT
cblr-1707	1291	1	in	in	ADP
cblr-1707	1291	2	a	a	DET
cblr-1707	1291	3	competitive	competitive	ADJ
cblr-1707	1291	4	lending	lending	NOUN
cblr-1707	1291	5	market	market	NOUN
cblr-1707	1291	6	,	,	PUNCT
cblr-1707	1291	7	one	one	PRON
cblr-1707	1291	8	should	should	AUX
cblr-1707	1291	9	generally	generally	ADV
cblr-1707	1291	10	expect	expect	VERB
cblr-1707	1291	11	loans	loan	NOUN
cblr-1707	1291	12	to	to	PART
cblr-1707	1291	13	be	be	AUX
cblr-1707	1291	14	supplied	supply	VERB
cblr-1707	1291	15	at	at	ADP
cblr-1707	1291	16	marginal	marginal	ADJ
cblr-1707	1291	17	cost	cost	NOUN
cblr-1707	1291	18	.	.	PUNCT
cblr-1707	1292	1	even	even	ADV
cblr-1707	1292	2	granting	grant	VERB
cblr-1707	1292	3	market	market	NOUN
cblr-1707	1292	4	imperfections	imperfection	NOUN
cblr-1707	1292	5	,	,	PUNCT
cblr-1707	1292	6	market	market	NOUN
cblr-1707	1292	7	forces	force	NOUN
cblr-1707	1292	8	should	should	AUX
cblr-1707	1292	9	be	be	AUX
cblr-1707	1292	10	expected	expect	VERB
cblr-1707	1292	11	to	to	PART
cblr-1707	1292	12	ensure	ensure	VERB
cblr-1707	1292	13	reasonable	reasonable	ADJ
cblr-1707	1292	14	access	access	NOUN
cblr-1707	1292	15	to	to	ADP
cblr-1707	1292	16	credit	credit	NOUN
cblr-1707	1292	17	for	for	ADP
cblr-1707	1292	18	creditworthy	creditworthy	ADJ
cblr-1707	1292	19	borrowers	borrower	NOUN
cblr-1707	1292	20	,	,	PUNCT
cblr-1707	1292	21	irrespective	irrespective	ADV
cblr-1707	1292	22	of	of	ADP
cblr-1707	1292	23	how	how	SCONJ
cblr-1707	1292	24	many	many	ADJ
cblr-1707	1292	25	banks	bank	NOUN
cblr-1707	1292	26	are	be	AUX
cblr-1707	1292	27	chartered	charter	VERB
cblr-1707	1292	28	.	.	PUNCT
cblr-1707	1293	1	and	and	CCONJ
cblr-1707	1293	2	in	in	ADP
cblr-1707	1293	3	the	the	DET
cblr-1707	1293	4	rate	rate	NOUN
cblr-1707	1293	5	regulation	regulation	NOUN
cblr-1707	1293	6	system	system	NOUN
cblr-1707	1293	7	described	describe	VERB
cblr-1707	1293	8	in	in	ADP
cblr-1707	1293	9	part	part	PROPN
cblr-1707	1293	10	ii	ii	PROPN
cblr-1707	1293	11	,	,	PUNCT
cblr-1707	1293	12	banks	bank	NOUN
cblr-1707	1293	13	’	’	PART
cblr-1707	1293	14	funding	funding	NOUN
cblr-1707	1293	15	costs	cost	NOUN
cblr-1707	1293	16	are	be	AUX
cblr-1707	1293	17	unsubsidized	unsubsidized	ADJ
cblr-1707	1293	18	,	,	PUNCT
cblr-1707	1293	19	so	so	SCONJ
cblr-1707	1293	20	one	one	PRON
cblr-1707	1293	21	should	should	AUX
cblr-1707	1293	22	not	not	PART
cblr-1707	1293	23	expect	expect	VERB
cblr-1707	1293	24	bank	bank	NOUN
cblr-1707	1293	25	loans	loan	NOUN
cblr-1707	1293	26	to	to	PART
cblr-1707	1293	27	carry	carry	VERB
cblr-1707	1293	28	systematically	systematically	ADV
cblr-1707	1293	29	lower	low	ADJ
cblr-1707	1293	30	rates	rate	NOUN
cblr-1707	1293	31	than	than	ADP
cblr-1707	1293	32	loans	loan	NOUN
cblr-1707	1293	33	by	by	ADP
cblr-1707	1293	34	nonbanks	nonbank	NOUN
cblr-1707	1293	35	.	.	PUNCT
cblr-1707	1294	1	congress	congress	PROPN
cblr-1707	1294	2	’s	’s	PART
cblr-1707	1294	3	explicit	explicit	ADJ
cblr-1707	1294	4	purpose	purpose	NOUN
cblr-1707	1294	5	in	in	ADP
cblr-1707	1294	6	enacting	enact	VERB
cblr-1707	1294	7	the	the	DET
cblr-1707	1294	8	national	national	PROPN
cblr-1707	1294	9	bank	bank	PROPN
cblr-1707	1294	10	act	act	PROPN
cblr-1707	1294	11	of	of	ADP
cblr-1707	1294	12	1864	1864	NUM
cblr-1707	1294	13	was	be	AUX
cblr-1707	1294	14	to	to	PART
cblr-1707	1294	15	“	"	PUNCT
cblr-1707	1294	16	provide	provide	VERB
cblr-1707	1294	17	a	a	DET
cblr-1707	1294	18	national	national	ADJ
cblr-1707	1294	19	currency”231	currency”231	NOUN
cblr-1707	1294	20	—	—	PUNCT
cblr-1707	1294	21	not	not	PART
cblr-1707	1294	22	to	to	PART
cblr-1707	1294	23	“	"	PUNCT
cblr-1707	1294	24	regulate	regulate	VERB
cblr-1707	1294	25	financial	financial	ADJ
cblr-1707	1294	26	intermediation	intermediation	NOUN
cblr-1707	1294	27	”	"	PUNCT
cblr-1707	1294	28	or	or	CCONJ
cblr-1707	1294	29	anything	anything	PRON
cblr-1707	1294	30	like	like	ADP
cblr-1707	1294	31	that	that	PRON
cblr-1707	1294	32	.	.	PUNCT
cblr-1707	1295	1	the	the	DET
cblr-1707	1295	2	intermediation	intermediation	NOUN
cblr-1707	1295	3	paradigm	paradigm	NOUN
cblr-1707	1295	4	has	have	AUX
cblr-1707	1295	5	obscured	obscure	VERB
cblr-1707	1295	6	this	this	DET
cblr-1707	1295	7	animating	animate	VERB
cblr-1707	1295	8	purpose	purpose	NOUN
cblr-1707	1295	9	.	.	PUNCT
cblr-1707	1296	1	in	in	ADP
cblr-1707	1296	2	so	so	ADV
cblr-1707	1296	3	doing	do	VERB
cblr-1707	1296	4	,	,	PUNCT
cblr-1707	1296	5	it	it	PRON
cblr-1707	1296	6	has	have	AUX
cblr-1707	1296	7	left	leave	VERB
cblr-1707	1296	8	u.s	u.s	PROPN
cblr-1707	1296	9	.	.	PROPN
cblr-1707	1296	10	bank	bank	PROPN
cblr-1707	1296	11	regulation	regulation	NOUN
cblr-1707	1296	12	in	in	ADP
cblr-1707	1296	13	a	a	DET
cblr-1707	1296	14	conceptual	conceptual	ADJ
cblr-1707	1296	15	muddle	muddle	NOUN
cblr-1707	1296	16	.	.	PUNCT
cblr-1707	1297	1	efficient	efficient	ADJ
cblr-1707	1297	2	deposit	deposit	NOUN
cblr-1707	1297	3	rate	rate	NOUN
cblr-1707	1297	4	regulation	regulation	NOUN
cblr-1707	1297	5	of	of	ADP
cblr-1707	1297	6	the	the	DET
cblr-1707	1297	7	type	type	NOUN
cblr-1707	1297	8	described	describe	VERB
cblr-1707	1297	9	in	in	ADP
cblr-1707	1297	10	part	part	NOUN
cblr-1707	1297	11	ii	ii	PROPN
cblr-1707	1297	12	would	would	AUX
cblr-1707	1297	13	necessitate	necessitate	VERB
cblr-1707	1297	14	restricting	restrict	VERB
cblr-1707	1297	15	entry	entry	NOUN
cblr-1707	1297	16	into	into	ADP
cblr-1707	1297	17	“	"	PUNCT
cblr-1707	1297	18	money	money	NOUN
cblr-1707	1297	19	”	"	PUNCT
cblr-1707	1297	20	creation	creation	NOUN
cblr-1707	1297	21	,	,	PUNCT
cblr-1707	1297	22	functionally	functionally	ADV
cblr-1707	1297	23	defined	define	VERB
cblr-1707	1297	24	.	.	PUNCT
cblr-1707	1298	1	the	the	DET
cblr-1707	1298	2	money	money	NOUN
cblr-1707	1298	3	paradigm	paradigm	NOUN
cblr-1707	1298	4	allows	allow	VERB
cblr-1707	1298	5	us	we	PRON
cblr-1707	1298	6	to	to	PART
cblr-1707	1298	7	see	see	VERB
cblr-1707	1298	8	bank	bank	NOUN
cblr-1707	1298	9	chartering	chartering	NOUN
cblr-1707	1298	10	as	as	ADP
cblr-1707	1298	11	procurement	procurement	NOUN
cblr-1707	1298	12	:	:	PUNCT
cblr-1707	1298	13	an	an	DET
cblr-1707	1298	14	exercise	exercise	NOUN
cblr-1707	1298	15	in	in	ADP
cblr-1707	1298	16	portfolio	portfolio	NOUN
cblr-1707	1298	17	management	management	NOUN
cblr-1707	1298	18	.	.	PUNCT
cblr-1707	1299	1	procurement	procurement	NOUN
cblr-1707	1299	2	implies	imply	VERB
cblr-1707	1299	3	discretionary	discretionary	ADJ
cblr-1707	1299	4	selection	selection	NOUN
cblr-1707	1299	5	,	,	PUNCT
cblr-1707	1299	6	and	and	CCONJ
cblr-1707	1299	7	traditional	traditional	ADJ
cblr-1707	1299	8	infrastructure	infrastructure	NOUN
cblr-1707	1299	9	regulation	regulation	NOUN
cblr-1707	1299	10	supplies	supply	VERB
cblr-1707	1299	11	a	a	DET
cblr-1707	1299	12	well	well	ADV
cblr-1707	1299	13	-	-	PUNCT
cblr-1707	1299	14	established	establish	VERB
cblr-1707	1299	15	model	model	NOUN
cblr-1707	1299	16	for	for	ADP
cblr-1707	1299	17	this	this	DET
cblr-1707	1299	18	regulatory	regulatory	ADJ
cblr-1707	1299	19	function	function	NOUN
cblr-1707	1299	20	.	.	PUNCT
cblr-1707	1300	1	229	229	NUM
cblr-1707	1300	2	small	small	ADJ
cblr-1707	1300	3	business	business	NOUN
cblr-1707	1300	4	loans	loan	NOUN
cblr-1707	1300	5	,	,	PUNCT
cblr-1707	1300	6	student	student	NOUN
cblr-1707	1300	7	loans	loan	NOUN
cblr-1707	1300	8	,	,	PUNCT
cblr-1707	1300	9	and	and	CCONJ
cblr-1707	1300	10	residential	residential	ADJ
cblr-1707	1300	11	mortgage	mortgage	NOUN
cblr-1707	1300	12	loans	loan	NOUN
cblr-1707	1300	13	each	each	PRON
cblr-1707	1300	14	receive	receive	VERB
cblr-1707	1300	15	some	some	DET
cblr-1707	1300	16	degree	degree	NOUN
cblr-1707	1300	17	of	of	ADP
cblr-1707	1300	18	federal	federal	ADJ
cblr-1707	1300	19	government	government	NOUN
cblr-1707	1300	20	support	support	NOUN
cblr-1707	1300	21	.	.	PUNCT
cblr-1707	1301	1	230	230	NUM
cblr-1707	1301	2	there	there	PRON
cblr-1707	1301	3	has	have	AUX
cblr-1707	1301	4	admittedly	admittedly	ADV
cblr-1707	1301	5	been	be	AUX
cblr-1707	1301	6	some	some	DET
cblr-1707	1301	7	confusion	confusion	NOUN
cblr-1707	1301	8	on	on	ADP
cblr-1707	1301	9	this	this	DET
cblr-1707	1301	10	score	score	NOUN
cblr-1707	1301	11	in	in	ADP
cblr-1707	1301	12	state	state	NOUN
cblr-1707	1301	13	“	"	PUNCT
cblr-1707	1301	14	unauthorized	unauthorized	ADJ
cblr-1707	1301	15	banking	banking	NOUN
cblr-1707	1301	16	”	"	PUNCT
cblr-1707	1301	17	statutes	statute	NOUN
cblr-1707	1301	18	;	;	PUNCT
cblr-1707	1301	19	however	however	ADV
cblr-1707	1301	20	,	,	PUNCT
cblr-1707	1301	21	insofar	insofar	ADV
cblr-1707	1301	22	as	as	SCONJ
cblr-1707	1301	23	these	these	DET
cblr-1707	1301	24	provisions	provision	NOUN
cblr-1707	1301	25	purport	purport	VERB
cblr-1707	1301	26	to	to	PART
cblr-1707	1301	27	restrict	restrict	VERB
cblr-1707	1301	28	entry	entry	NOUN
cblr-1707	1301	29	into	into	ADP
cblr-1707	1301	30	“	"	PUNCT
cblr-1707	1301	31	discounting	discount	VERB
cblr-1707	1301	32	”	"	PUNCT
cblr-1707	1301	33	or	or	CCONJ
cblr-1707	1301	34	other	other	ADJ
cblr-1707	1301	35	forms	form	NOUN
cblr-1707	1301	36	of	of	ADP
cblr-1707	1301	37	credit	credit	NOUN
cblr-1707	1301	38	extension	extension	NOUN
cblr-1707	1301	39	,	,	PUNCT
cblr-1707	1301	40	they	they	PRON
cblr-1707	1301	41	have	have	VERB
cblr-1707	1301	42	for	for	SCONJ
cblr-1707	1301	43	the	the	DET
cblr-1707	1301	44	most	most	ADJ
cblr-1707	1301	45	part	part	NOUN
cblr-1707	1301	46	been	be	AUX
cblr-1707	1301	47	ignored	ignore	VERB
cblr-1707	1301	48	.	.	PUNCT
cblr-1707	1302	1	for	for	ADP
cblr-1707	1302	2	an	an	DET
cblr-1707	1302	3	incisive	incisive	ADJ
cblr-1707	1302	4	treatment	treatment	NOUN
cblr-1707	1302	5	,	,	PUNCT
cblr-1707	1302	6	see	see	VERB
cblr-1707	1302	7	homer	homer	NOUN
cblr-1707	1302	8	kripke	kripke	NOUN
cblr-1707	1302	9	,	,	PUNCT
cblr-1707	1302	10	illegal	illegal	ADJ
cblr-1707	1302	11	“	"	PUNCT
cblr-1707	1302	12	discounts	discount	NOUN
cblr-1707	1302	13	”	"	PUNCT
cblr-1707	1302	14	by	by	ADP
cblr-1707	1302	15	non	non	ADJ
cblr-1707	1302	16	-	-	ADJ
cblr-1707	1302	17	banking	banking	ADJ
cblr-1707	1302	18	corporations	corporation	NOUN
cblr-1707	1302	19	in	in	ADP
cblr-1707	1302	20	new	new	PROPN
cblr-1707	1302	21	york	york	PROPN
cblr-1707	1302	22	,	,	PUNCT
cblr-1707	1302	23	56	56	NUM
cblr-1707	1302	24	colum	colum	NOUN
cblr-1707	1302	25	.	.	PUNCT
cblr-1707	1303	1	l.	l.	PROPN
cblr-1707	1303	2	rev	rev	PROPN
cblr-1707	1303	3	.	.	PROPN
cblr-1707	1303	4	1183	1183	NUM
cblr-1707	1303	5	(	(	PUNCT
cblr-1707	1303	6	1956	1956	NUM
cblr-1707	1303	7	)	)	PUNCT
cblr-1707	1303	8	.	.	PUNCT
cblr-1707	1304	1	231	231	NUM
cblr-1707	1304	2	national	national	PROPN
cblr-1707	1304	3	bank	bank	PROPN
cblr-1707	1304	4	act	act	NOUN
cblr-1707	1304	5	of	of	ADP
cblr-1707	1304	6	1864	1864	NUM
cblr-1707	1304	7	,	,	PUNCT
cblr-1707	1304	8	ch	ch	NOUN
cblr-1707	1304	9	.	.	PROPN
cblr-1707	1304	10	106	106	NUM
cblr-1707	1304	11	(	(	PUNCT
cblr-1707	1304	12	preamble	preamble	NOUN
cblr-1707	1304	13	)	)	PUNCT
cblr-1707	1304	14	,	,	PUNCT
cblr-1707	1304	15	13	13	NUM
cblr-1707	1304	16	stat	stat	NOUN
cblr-1707	1304	17	.	.	PUNCT
cblr-1707	1305	1	99	99	NUM
cblr-1707	1305	2	,	,	PUNCT
cblr-1707	1305	3	99	99	NUM
cblr-1707	1305	4	.	.	NOUN
cblr-1707	1305	5	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	1305	6	828	828	NUM
cblr-1707	1305	7	columbia	columbia	PROPN
cblr-1707	1305	8	business	business	NOUN
cblr-1707	1305	9	law	law	PROPN
cblr-1707	1305	10	review	review	NOUN
cblr-1707	1305	11	[	[	X
cblr-1707	1305	12	vol	vol	NOUN
cblr-1707	1305	13	.	.	NOUN
cblr-1707	1305	14	2018	2018	NUM
cblr-1707	1305	15	iv	iv	NUM
cblr-1707	1305	16	.	.	PUNCT
cblr-1707	1306	1	universal	universal	ADJ
cblr-1707	1306	2	service	service	NOUN
cblr-1707	1306	3	and	and	CCONJ
cblr-1707	1306	4	the	the	DET
cblr-1707	1306	5	unand	unand	NOUN
cblr-1707	1306	6	under	under	ADV
cblr-1707	1306	7	-	-	PUNCT
cblr-1707	1306	8	banked	bank	VERB
cblr-1707	1306	9	this	this	DET
cblr-1707	1306	10	part	part	NOUN
cblr-1707	1306	11	now	now	ADV
cblr-1707	1306	12	pivots	pivot	VERB
cblr-1707	1306	13	from	from	ADP
cblr-1707	1306	14	the	the	DET
cblr-1707	1306	15	rarefied	rarefied	ADJ
cblr-1707	1306	16	spheres	sphere	NOUN
cblr-1707	1306	17	of	of	ADP
cblr-1707	1306	18	monetary	monetary	ADJ
cblr-1707	1306	19	policy	policy	NOUN
cblr-1707	1306	20	and	and	CCONJ
cblr-1707	1306	21	bank	bank	NOUN
cblr-1707	1306	22	chartering	chartering	NOUN
cblr-1707	1306	23	to	to	ADP
cblr-1707	1306	24	the	the	DET
cblr-1707	1306	25	ground	ground	NOUN
cblr-1707	1306	26	-	-	PUNCT
cblr-1707	1306	27	level	level	NOUN
cblr-1707	1306	28	public	public	ADJ
cblr-1707	1306	29	interface	interface	NOUN
cblr-1707	1306	30	of	of	ADP
cblr-1707	1306	31	the	the	DET
cblr-1707	1306	32	monetary	monetary	ADJ
cblr-1707	1306	33	system	system	NOUN
cblr-1707	1306	34	.	.	PUNCT
cblr-1707	1307	1	here	here	ADV
cblr-1707	1307	2	again	again	ADV
cblr-1707	1307	3	,	,	PUNCT
cblr-1707	1307	4	the	the	DET
cblr-1707	1307	5	money	money	NOUN
cblr-1707	1307	6	paradigm	paradigm	NOUN
cblr-1707	1307	7	opens	open	VERB
cblr-1707	1307	8	up	up	ADP
cblr-1707	1307	9	a	a	DET
cblr-1707	1307	10	way	way	NOUN
cblr-1707	1307	11	of	of	ADP
cblr-1707	1307	12	thinking	think	VERB
cblr-1707	1307	13	about	about	ADP
cblr-1707	1307	14	bank	bank	NOUN
cblr-1707	1307	15	regulatory	regulatory	ADJ
cblr-1707	1307	16	policy	policy	NOUN
cblr-1707	1307	17	that	that	PRON
cblr-1707	1307	18	the	the	DET
cblr-1707	1307	19	intermediation	intermediation	NOUN
cblr-1707	1307	20	paradigm	paradigm	NOUN
cblr-1707	1307	21	can	can	AUX
cblr-1707	1307	22	not	not	PART
cblr-1707	1307	23	readily	readily	ADV
cblr-1707	1307	24	accommodate	accommodate	VERB
cblr-1707	1307	25	—	—	PUNCT
cblr-1707	1307	26	and	and	CCONJ
cblr-1707	1307	27	infrastructure	infrastructure	NOUN
cblr-1707	1307	28	regulation	regulation	NOUN
cblr-1707	1307	29	supplies	supply	VERB
cblr-1707	1307	30	a	a	DET
cblr-1707	1307	31	time	time	NOUN
cblr-1707	1307	32	-	-	PUNCT
cblr-1707	1307	33	tested	test	VERB
cblr-1707	1307	34	regulatory	regulatory	ADJ
cblr-1707	1307	35	model	model	NOUN
cblr-1707	1307	36	.	.	PUNCT
cblr-1707	1308	1	a.	a.	NOUN
cblr-1707	1308	2	access	access	NOUN
cblr-1707	1308	3	to	to	ADP
cblr-1707	1308	4	the	the	DET
cblr-1707	1308	5	mainstream	mainstream	NOUN
cblr-1707	1308	6	payment	payment	NOUN
cblr-1707	1308	7	system	system	NOUN
cblr-1707	1308	8	it	it	PRON
cblr-1707	1308	9	is	be	AUX
cblr-1707	1308	10	well	well	ADV
cblr-1707	1308	11	-	-	PUNCT
cblr-1707	1308	12	documented	document	VERB
cblr-1707	1308	13	that	that	SCONJ
cblr-1707	1308	14	the	the	DET
cblr-1707	1308	15	mainstream	mainstream	NOUN
cblr-1707	1308	16	payment	payment	NOUN
cblr-1707	1308	17	system	system	NOUN
cblr-1707	1308	18	is	be	AUX
cblr-1707	1308	19	beyond	beyond	ADP
cblr-1707	1308	20	the	the	DET
cblr-1707	1308	21	reach	reach	NOUN
cblr-1707	1308	22	of	of	ADP
cblr-1707	1308	23	many	many	ADJ
cblr-1707	1308	24	americans	americans	PROPN
cblr-1707	1308	25	.	.	PUNCT
cblr-1707	1309	1	approximately	approximately	ADV
cblr-1707	1309	2	6.5	6.5	NUM
cblr-1707	1309	3	%	%	NOUN
cblr-1707	1309	4	of	of	ADP
cblr-1707	1309	5	u.s	u.s	PROPN
cblr-1707	1309	6	.	.	PROPN
cblr-1707	1309	7	households	household	NOUN
cblr-1707	1309	8	—	—	PUNCT
cblr-1707	1309	9	comprising	comprise	VERB
cblr-1707	1309	10	fourteen	fourteen	NUM
cblr-1707	1309	11	million	million	NUM
cblr-1707	1309	12	adults	adult	NOUN
cblr-1707	1309	13	and	and	CCONJ
cblr-1707	1309	14	six	six	NUM
cblr-1707	1309	15	million	million	NUM
cblr-1707	1309	16	children	child	NOUN
cblr-1707	1309	17	—	—	PUNCT
cblr-1707	1309	18	do	do	AUX
cblr-1707	1309	19	not	not	PART
cblr-1707	1309	20	have	have	VERB
cblr-1707	1309	21	a	a	DET
cblr-1707	1309	22	bank	bank	NOUN
cblr-1707	1309	23	account.232	account.232	NOUN
cblr-1707	1309	24	these	these	DET
cblr-1707	1309	25	unbanked	unbanked	ADJ
cblr-1707	1309	26	households	household	NOUN
cblr-1707	1309	27	use	use	VERB
cblr-1707	1309	28	a	a	DET
cblr-1707	1309	29	mishmash	mishmash	NOUN
cblr-1707	1309	30	of	of	ADP
cblr-1707	1309	31	techniques	technique	NOUN
cblr-1707	1309	32	to	to	PART
cblr-1707	1309	33	make	make	VERB
cblr-1707	1309	34	and	and	CCONJ
cblr-1707	1309	35	receive	receive	VERB
cblr-1707	1309	36	payments	payment	NOUN
cblr-1707	1309	37	.	.	PUNCT
cblr-1707	1310	1	to	to	PART
cblr-1707	1310	2	convert	convert	VERB
cblr-1707	1310	3	their	their	PRON
cblr-1707	1310	4	paychecks	paycheck	NOUN
cblr-1707	1310	5	and	and	CCONJ
cblr-1707	1310	6	other	other	ADJ
cblr-1707	1310	7	checks	check	NOUN
cblr-1707	1310	8	into	into	ADP
cblr-1707	1310	9	cash	cash	NOUN
cblr-1707	1310	10	,	,	PUNCT
cblr-1707	1310	11	these	these	DET
cblr-1707	1310	12	consumers	consumer	NOUN
cblr-1707	1310	13	may	may	AUX
cblr-1707	1310	14	visit	visit	VERB
cblr-1707	1310	15	a	a	DET
cblr-1707	1310	16	branch	branch	NOUN
cblr-1707	1310	17	of	of	ADP
cblr-1707	1310	18	the	the	DET
cblr-1707	1310	19	bank	bank	NOUN
cblr-1707	1310	20	that	that	PRON
cblr-1707	1310	21	issued	issue	VERB
cblr-1707	1310	22	the	the	DET
cblr-1707	1310	23	check	check	NOUN
cblr-1707	1310	24	.	.	PUNCT
cblr-1707	1311	1	such	such	DET
cblr-1707	1311	2	a	a	DET
cblr-1707	1311	3	branch	branch	NOUN
cblr-1707	1311	4	may	may	AUX
cblr-1707	1311	5	or	or	CCONJ
cblr-1707	1311	6	may	may	AUX
cblr-1707	1311	7	not	not	PART
cblr-1707	1311	8	be	be	AUX
cblr-1707	1311	9	conveniently	conveniently	ADV
cblr-1707	1311	10	located	locate	VERB
cblr-1707	1311	11	or	or	CCONJ
cblr-1707	1311	12	have	have	VERB
cblr-1707	1311	13	convenient	convenient	ADJ
cblr-1707	1311	14	hours	hour	NOUN
cblr-1707	1311	15	.	.	PUNCT
cblr-1707	1312	1	alternatively	alternatively	ADV
cblr-1707	1312	2	,	,	PUNCT
cblr-1707	1312	3	they	they	PRON
cblr-1707	1312	4	may	may	AUX
cblr-1707	1312	5	cash	cash	VERB
cblr-1707	1312	6	checks	check	NOUN
cblr-1707	1312	7	at	at	ADP
cblr-1707	1312	8	retail	retail	ADJ
cblr-1707	1312	9	stores	store	NOUN
cblr-1707	1312	10	(	(	PUNCT
cblr-1707	1312	11	such	such	ADJ
cblr-1707	1312	12	as	as	ADP
cblr-1707	1312	13	grocery	grocery	NOUN
cblr-1707	1312	14	,	,	PUNCT
cblr-1707	1312	15	drug	drug	NOUN
cblr-1707	1312	16	,	,	PUNCT
cblr-1707	1312	17	or	or	CCONJ
cblr-1707	1312	18	convenience	convenience	NOUN
cblr-1707	1312	19	stores	store	NOUN
cblr-1707	1312	20	)	)	PUNCT
cblr-1707	1312	21	or	or	CCONJ
cblr-1707	1312	22	standalone	standalone	ADJ
cblr-1707	1312	23	check	check	NOUN
cblr-1707	1312	24	-	-	PUNCT
cblr-1707	1312	25	cashing	cash	VERB
cblr-1707	1312	26	businesses	business	NOUN
cblr-1707	1312	27	.	.	PUNCT
cblr-1707	1313	1	nonbank	nonbank	NOUN
cblr-1707	1313	2	check	check	NOUN
cblr-1707	1313	3	cashing	cashing	NOUN
cblr-1707	1313	4	is	be	AUX
cblr-1707	1313	5	expensive	expensive	ADJ
cblr-1707	1313	6	;	;	PUNCT
cblr-1707	1313	7	service	service	NOUN
cblr-1707	1313	8	providers	provider	NOUN
cblr-1707	1313	9	typically	typically	ADV
cblr-1707	1313	10	charge	charge	VERB
cblr-1707	1313	11	1.5	1.5	NUM
cblr-1707	1313	12	%	%	NOUN
cblr-1707	1313	13	to	to	PART
cblr-1707	1313	14	3.5	3.5	NUM
cblr-1707	1313	15	%	%	NOUN
cblr-1707	1313	16	of	of	ADP
cblr-1707	1313	17	face	face	NOUN
cblr-1707	1313	18	value.233	value.233	NOUN
cblr-1707	1313	19	by	by	ADP
cblr-1707	1313	20	comparison	comparison	NOUN
cblr-1707	1313	21	,	,	PUNCT
cblr-1707	1313	22	most	most	ADV
cblr-1707	1313	23	banked	banked	ADJ
cblr-1707	1313	24	households	household	NOUN
cblr-1707	1313	25	use	use	VERB
cblr-1707	1313	26	direct	direct	ADJ
cblr-1707	1313	27	deposit	deposit	NOUN
cblr-1707	1313	28	for	for	ADP
cblr-1707	1313	29	paychecks	paycheck	NOUN
cblr-1707	1313	30	,	,	PUNCT
cblr-1707	1313	31	which	which	PRON
cblr-1707	1313	32	is	be	AUX
cblr-1707	1313	33	convenient	convenient	ADJ
cblr-1707	1313	34	and	and	CCONJ
cblr-1707	1313	35	free	free	ADJ
cblr-1707	1313	36	.	.	PUNCT
cblr-1707	1314	1	for	for	ADP
cblr-1707	1314	2	routine	routine	ADJ
cblr-1707	1314	3	bills	bill	NOUN
cblr-1707	1314	4	,	,	PUNCT
cblr-1707	1314	5	the	the	DET
cblr-1707	1314	6	unbanked	unbanked	NOUN
cblr-1707	1314	7	often	often	ADV
cblr-1707	1314	8	can	can	AUX
cblr-1707	1314	9	not	not	PART
cblr-1707	1314	10	use	use	VERB
cblr-1707	1314	11	efficient	efficient	ADJ
cblr-1707	1314	12	online	online	ADJ
cblr-1707	1314	13	payment	payment	NOUN
cblr-1707	1314	14	methods	method	NOUN
cblr-1707	1314	15	.	.	PUNCT
cblr-1707	1315	1	they	they	PRON
cblr-1707	1315	2	often	often	ADV
cblr-1707	1315	3	stand	stand	VERB
cblr-1707	1315	4	in	in	ADP
cblr-1707	1315	5	line	line	NOUN
cblr-1707	1315	6	at	at	ADP
cblr-1707	1315	7	bill	bill	NOUN
cblr-1707	1315	8	pay	pay	NOUN
cblr-1707	1315	9	centers	center	NOUN
cblr-1707	1315	10	to	to	PART
cblr-1707	1315	11	pay	pay	VERB
cblr-1707	1315	12	in	in	ADP
cblr-1707	1315	13	cash	cash	NOUN
cblr-1707	1315	14	.	.	PUNCT
cblr-1707	1316	1	they	they	PRON
cblr-1707	1316	2	rely	rely	VERB
cblr-1707	1316	3	heavily	heavily	ADV
cblr-1707	1316	4	on	on	ADP
cblr-1707	1316	5	nonbank	nonbank	NOUN
cblr-1707	1316	6	money	money	NOUN
cblr-1707	1316	7	orders	order	NOUN
cblr-1707	1316	8	,	,	PUNCT
cblr-1707	1316	9	which	which	PRON
cblr-1707	1316	10	are	be	AUX
cblr-1707	1316	11	subject	subject	ADJ
cblr-1707	1316	12	to	to	ADP
cblr-1707	1316	13	fees	fee	NOUN
cblr-1707	1316	14	.	.	PUNCT
cblr-1707	1317	1	they	they	PRON
cblr-1707	1317	2	commonly	commonly	ADV
cblr-1707	1317	3	transfer	transfer	VERB
cblr-1707	1317	4	money	money	NOUN
cblr-1707	1317	5	within	within	ADP
cblr-1707	1317	6	the	the	DET
cblr-1707	1317	7	united	united	PROPN
cblr-1707	1317	8	states	states	PROPN
cblr-1707	1317	9	through	through	ADP
cblr-1707	1317	10	expensive	expensive	ADJ
cblr-1707	1317	11	wire	wire	NOUN
cblr-1707	1317	12	transfer	transfer	NOUN
cblr-1707	1317	13	outlets	outlet	NOUN
cblr-1707	1317	14	,	,	PUNCT
cblr-1707	1317	15	such	such	ADJ
cblr-1707	1317	16	as	as	ADP
cblr-1707	1317	17	western	western	ADJ
cblr-1707	1317	18	union	union	NOUN
cblr-1707	1317	19	or	or	CCONJ
cblr-1707	1317	20	moneygram	moneygram	NOUN
cblr-1707	1317	21	.	.	PUNCT
cblr-1707	1318	1	in	in	ADP
cblr-1707	1318	2	232	232	NUM
cblr-1707	1318	3	fed	feed	VERB
cblr-1707	1318	4	.	.	PUNCT
cblr-1707	1319	1	deposit	deposit	NOUN
cblr-1707	1319	2	ins	ins	PROPN
cblr-1707	1319	3	.	.	PUNCT
cblr-1707	1319	4	corp	corp	PROPN
cblr-1707	1319	5	.	.	PROPN
cblr-1707	1319	6	,	,	PUNCT
cblr-1707	1319	7	2017	2017	NUM
cblr-1707	1319	8	fdic	fdic	PROPN
cblr-1707	1319	9	national	national	ADJ
cblr-1707	1319	10	survey	survey	NOUN
cblr-1707	1319	11	of	of	ADP
cblr-1707	1319	12	unbanked	unbanked	ADJ
cblr-1707	1319	13	and	and	CCONJ
cblr-1707	1319	14	underbanked	underbanked	ADJ
cblr-1707	1319	15	households	household	NOUN
cblr-1707	1319	16	17	17	NUM
cblr-1707	1319	17	(	(	PUNCT
cblr-1707	1319	18	2018	2018	NUM
cblr-1707	1319	19	)	)	PUNCT
cblr-1707	1320	1	[	[	X
cblr-1707	1320	2	hereinafter	hereinafter	NOUN
cblr-1707	1320	3	2017	2017	NUM
cblr-1707	1320	4	fdic	fdic	PROPN
cblr-1707	1320	5	national	national	ADJ
cblr-1707	1320	6	survey	survey	NOUN
cblr-1707	1320	7	]	]	PUNCT
cblr-1707	1320	8	.	.	PUNCT
cblr-1707	1321	1	233	233	NUM
cblr-1707	1321	2	michael	michael	PROPN
cblr-1707	1321	3	s.	s.	PROPN
cblr-1707	1321	4	barr	barr	PROPN
cblr-1707	1321	5	&	&	CCONJ
cblr-1707	1321	6	rebecca	rebecca	PROPN
cblr-1707	1321	7	m.	m.	PROPN
cblr-1707	1321	8	blank	blank	PROPN
cblr-1707	1321	9	,	,	PUNCT
cblr-1707	1321	10	savings	saving	NOUN
cblr-1707	1321	11	,	,	PUNCT
cblr-1707	1321	12	assets	asset	NOUN
cblr-1707	1321	13	,	,	PUNCT
cblr-1707	1321	14	and	and	CCONJ
cblr-1707	1321	15	banking	banking	NOUN
cblr-1707	1321	16	among	among	ADP
cblr-1707	1321	17	low	low	ADJ
cblr-1707	1321	18	-	-	PUNCT
cblr-1707	1321	19	income	income	NOUN
cblr-1707	1321	20	households	household	NOUN
cblr-1707	1321	21	:	:	PUNCT
cblr-1707	1321	22	introduction	introduction	NOUN
cblr-1707	1321	23	and	and	CCONJ
cblr-1707	1321	24	overview	overview	NOUN
cblr-1707	1321	25	,	,	PUNCT
cblr-1707	1321	26	in	in	ADP
cblr-1707	1321	27	insufficient	insufficient	ADJ
cblr-1707	1321	28	funds	fund	NOUN
cblr-1707	1321	29	3	3	NUM
cblr-1707	1321	30	(	(	PUNCT
cblr-1707	1321	31	rebecca	rebecca	PROPN
cblr-1707	1321	32	m.	m.	PROPN
cblr-1707	1321	33	blank	blank	PROPN
cblr-1707	1321	34	&	&	CCONJ
cblr-1707	1321	35	michael	michael	PROPN
cblr-1707	1321	36	s.	s.	PROPN
cblr-1707	1321	37	barr	barr	PROPN
cblr-1707	1321	38	eds	eds	PROPN
cblr-1707	1321	39	.	.	PROPN
cblr-1707	1321	40	,	,	PUNCT
cblr-1707	1321	41	2009	2009	NUM
cblr-1707	1321	42	)	)	PUNCT
cblr-1707	1321	43	.	.	PUNCT
cblr-1707	1322	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	1322	2	no	no	NOUN
cblr-1707	1322	3	.	.	PUNCT
cblr-1707	1323	1	3:757	3:757	NUM
cblr-1707	1323	2	]	]	X
cblr-1707	1323	3	money	money	NOUN
cblr-1707	1323	4	as	as	ADP
cblr-1707	1323	5	infrastructure	infrastructure	NOUN
cblr-1707	1323	6	829	829	NUM
cblr-1707	1323	7	recent	recent	ADJ
cblr-1707	1323	8	years	year	NOUN
cblr-1707	1323	9	,	,	PUNCT
cblr-1707	1323	10	the	the	DET
cblr-1707	1323	11	unbanked	unbanked	NOUN
cblr-1707	1323	12	have	have	AUX
cblr-1707	1323	13	increasingly	increasingly	ADV
cblr-1707	1323	14	turned	turn	VERB
cblr-1707	1323	15	to	to	ADP
cblr-1707	1323	16	prepaid	prepay	VERB
cblr-1707	1323	17	debit	debit	NOUN
cblr-1707	1323	18	cards	card	NOUN
cblr-1707	1323	19	,	,	PUNCT
cblr-1707	1323	20	which	which	PRON
cblr-1707	1323	21	are	be	AUX
cblr-1707	1323	22	available	available	ADJ
cblr-1707	1323	23	at	at	ADP
cblr-1707	1323	24	a	a	DET
cblr-1707	1323	25	variety	variety	NOUN
cblr-1707	1323	26	of	of	ADP
cblr-1707	1323	27	retail	retail	ADJ
cblr-1707	1323	28	locations	location	NOUN
cblr-1707	1323	29	,	,	PUNCT
cblr-1707	1323	30	to	to	PART
cblr-1707	1323	31	meet	meet	VERB
cblr-1707	1323	32	payment	payment	NOUN
cblr-1707	1323	33	needs	need	NOUN
cblr-1707	1323	34	.	.	PUNCT
cblr-1707	1324	1	these	these	DET
cblr-1707	1324	2	cards	card	NOUN
cblr-1707	1324	3	,	,	PUNCT
cblr-1707	1324	4	too	too	ADV
cblr-1707	1324	5	,	,	PUNCT
cblr-1707	1324	6	are	be	AUX
cblr-1707	1324	7	subject	subject	ADJ
cblr-1707	1324	8	to	to	ADP
cblr-1707	1324	9	various	various	ADJ
cblr-1707	1324	10	types	type	NOUN
cblr-1707	1324	11	of	of	ADP
cblr-1707	1324	12	fees	fee	NOUN
cblr-1707	1324	13	,	,	PUNCT
cblr-1707	1324	14	including	include	VERB
cblr-1707	1324	15	upfront	upfront	ADJ
cblr-1707	1324	16	fees	fee	NOUN
cblr-1707	1324	17	,	,	PUNCT
cblr-1707	1324	18	monthly	monthly	ADJ
cblr-1707	1324	19	fees	fee	NOUN
cblr-1707	1324	20	,	,	PUNCT
cblr-1707	1324	21	transaction	transaction	NOUN
cblr-1707	1324	22	fees	fee	NOUN
cblr-1707	1324	23	,	,	PUNCT
cblr-1707	1324	24	cash	cash	NOUN
cblr-1707	1324	25	reload	reload	NOUN
cblr-1707	1324	26	fees	fee	NOUN
cblr-1707	1324	27	,	,	PUNCT
cblr-1707	1324	28	atm	atm	NOUN
cblr-1707	1324	29	fees	fee	NOUN
cblr-1707	1324	30	,	,	PUNCT
cblr-1707	1324	31	account	account	NOUN
cblr-1707	1324	32	statement	statement	NOUN
cblr-1707	1324	33	fees	fee	NOUN
cblr-1707	1324	34	,	,	PUNCT
cblr-1707	1324	35	customer	customer	NOUN
cblr-1707	1324	36	service	service	NOUN
cblr-1707	1324	37	call	call	NOUN
cblr-1707	1324	38	fees	fee	NOUN
cblr-1707	1324	39	,	,	PUNCT
cblr-1707	1324	40	and	and	CCONJ
cblr-1707	1324	41	online	online	ADJ
cblr-1707	1324	42	bill	bill	NOUN
cblr-1707	1324	43	pay	pay	VERB
cblr-1707	1324	44	fees.234	fees.234	PROPN
cblr-1707	1324	45	prepaid	prepay	VERB
cblr-1707	1324	46	cards	card	NOUN
cblr-1707	1324	47	have	have	AUX
cblr-1707	1324	48	recently	recently	ADV
cblr-1707	1324	49	experienced	experience	VERB
cblr-1707	1324	50	service	service	NOUN
cblr-1707	1324	51	interruptions	interruption	NOUN
cblr-1707	1324	52	,	,	PUNCT
cblr-1707	1324	53	leaving	leave	VERB
cblr-1707	1324	54	their	their	PRON
cblr-1707	1324	55	users	user	NOUN
cblr-1707	1324	56	unable	unable	ADJ
cblr-1707	1324	57	to	to	PART
cblr-1707	1324	58	access	access	VERB
cblr-1707	1324	59	funds	fund	NOUN
cblr-1707	1324	60	for	for	ADP
cblr-1707	1324	61	days	day	NOUN
cblr-1707	1324	62	at	at	ADP
cblr-1707	1324	63	a	a	DET
cblr-1707	1324	64	time.235	time.235	NUM
cblr-1707	1324	65	for	for	ADP
cblr-1707	1324	66	those	those	PRON
cblr-1707	1324	67	lacking	lack	VERB
cblr-1707	1324	68	a	a	DET
cblr-1707	1324	69	bank	bank	NOUN
cblr-1707	1324	70	account	account	NOUN
cblr-1707	1324	71	—	—	PUNCT
cblr-1707	1324	72	a	a	DET
cblr-1707	1324	73	disproportionately	disproportionately	ADV
cblr-1707	1324	74	low	low	ADJ
cblr-1707	1324	75	-	-	PUNCT
cblr-1707	1324	76	income	income	NOUN
cblr-1707	1324	77	population236	population236	PROPN
cblr-1707	1324	78	—	—	PUNCT
cblr-1707	1324	79	the	the	DET
cblr-1707	1324	80	pecuniary	pecuniary	ADJ
cblr-1707	1324	81	and	and	CCONJ
cblr-1707	1324	82	nonpecuniary	nonpecuniary	ADJ
cblr-1707	1324	83	costs	cost	NOUN
cblr-1707	1324	84	(	(	PUNCT
cblr-1707	1324	85	including	include	VERB
cblr-1707	1324	86	time	time	NOUN
cblr-1707	1324	87	and	and	CCONJ
cblr-1707	1324	88	distance	distance	NOUN
cblr-1707	1324	89	costs	cost	NOUN
cblr-1707	1324	90	)	)	PUNCT
cblr-1707	1324	91	of	of	ADP
cblr-1707	1324	92	basic	basic	ADJ
cblr-1707	1324	93	transaction	transaction	NOUN
cblr-1707	1324	94	services	service	NOUN
cblr-1707	1324	95	are	be	AUX
cblr-1707	1324	96	high	high	ADJ
cblr-1707	1324	97	.	.	PUNCT
cblr-1707	1325	1	according	accord	VERB
cblr-1707	1325	2	to	to	ADP
cblr-1707	1325	3	one	one	NUM
cblr-1707	1325	4	recent	recent	ADJ
cblr-1707	1325	5	study	study	NOUN
cblr-1707	1325	6	,	,	PUNCT
cblr-1707	1325	7	“	"	PUNCT
cblr-1707	1325	8	a	a	DET
cblr-1707	1325	9	worker	worker	NOUN
cblr-1707	1325	10	earning	earn	VERB
cblr-1707	1325	11	minimum	minimum	ADJ
cblr-1707	1325	12	wage	wage	NOUN
cblr-1707	1325	13	,	,	PUNCT
cblr-1707	1325	14	working	work	VERB
cblr-1707	1325	15	full	full	ADJ
cblr-1707	1325	16	-	-	PUNCT
cblr-1707	1325	17	time	time	NOUN
cblr-1707	1325	18	,	,	PUNCT
cblr-1707	1325	19	and	and	CCONJ
cblr-1707	1325	20	making	make	VERB
cblr-1707	1325	21	under	under	ADP
cblr-1707	1325	22	$	$	SYM
cblr-1707	1325	23	12,000	12,000	NUM
cblr-1707	1325	24	a	a	DET
cblr-1707	1325	25	year	year	NOUN
cblr-1707	1325	26	might	might	AUX
cblr-1707	1325	27	pay	pay	VERB
cblr-1707	1325	28	$	$	SYM
cblr-1707	1325	29	250	250	NUM
cblr-1707	1325	30	to	to	PART
cblr-1707	1325	31	$	$	SYM
cblr-1707	1325	32	500	500	NUM
cblr-1707	1325	33	annually	annually	ADV
cblr-1707	1325	34	to	to	PART
cblr-1707	1325	35	cash	cash	NOUN
cblr-1707	1325	36	payroll	payroll	NOUN
cblr-1707	1325	37	checks	check	NOUN
cblr-1707	1325	38	at	at	ADP
cblr-1707	1325	39	a	a	DET
cblr-1707	1325	40	check	check	NOUN
cblr-1707	1325	41	-	-	PUNCT
cblr-1707	1325	42	cashing	cash	VERB
cblr-1707	1325	43	outlet	outlet	NOUN
cblr-1707	1325	44	,	,	PUNCT
cblr-1707	1325	45	in	in	ADP
cblr-1707	1325	46	addition	addition	NOUN
cblr-1707	1325	47	to	to	ADP
cblr-1707	1325	48	fees	fee	NOUN
cblr-1707	1325	49	for	for	ADP
cblr-1707	1325	50	money	money	NOUN
cblr-1707	1325	51	orders	order	NOUN
cblr-1707	1325	52	,	,	PUNCT
cblr-1707	1325	53	wire	wire	NOUN
cblr-1707	1325	54	transfers	transfer	NOUN
cblr-1707	1325	55	,	,	PUNCT
cblr-1707	1325	56	bill	bill	NOUN
cblr-1707	1325	57	payments	payment	NOUN
cblr-1707	1325	58	,	,	PUNCT
cblr-1707	1325	59	and	and	CCONJ
cblr-1707	1325	60	other	other	ADJ
cblr-1707	1325	61	common	common	ADJ
cblr-1707	1325	62	transactions	transaction	NOUN
cblr-1707	1325	63	.	.	PUNCT
cblr-1707	1326	1	”237	”237	PROPN
cblr-1707	1327	1	middleand	middleand	PROPN
cblr-1707	1327	2	high	high	ADJ
cblr-1707	1327	3	-	-	PUNCT
cblr-1707	1327	4	income	income	NOUN
cblr-1707	1327	5	households	household	NOUN
cblr-1707	1327	6	generally	generally	ADV
cblr-1707	1327	7	avoid	avoid	VERB
cblr-1707	1327	8	such	such	ADJ
cblr-1707	1327	9	costs	cost	NOUN
cblr-1707	1327	10	.	.	PUNCT
cblr-1707	1328	1	“	"	PUNCT
cblr-1707	1328	2	basic	basic	ADJ
cblr-1707	1328	3	transactional	transactional	ADJ
cblr-1707	1328	4	services	service	NOUN
cblr-1707	1328	5	—	—	PUNCT
cblr-1707	1328	6	receiving	receive	VERB
cblr-1707	1328	7	income	income	NOUN
cblr-1707	1328	8	,	,	PUNCT
cblr-1707	1328	9	storing	store	VERB
cblr-1707	1328	10	it	it	PRON
cblr-1707	1328	11	,	,	PUNCT
cblr-1707	1328	12	and	and	CCONJ
cblr-1707	1328	13	paying	pay	VERB
cblr-1707	1328	14	bills	bill	NOUN
cblr-1707	1328	15	—	—	PUNCT
cblr-1707	1328	16	are	be	AUX
cblr-1707	1328	17	less	less	ADV
cblr-1707	1328	18	available	available	ADJ
cblr-1707	1328	19	and	and	CCONJ
cblr-1707	1328	20	more	more	ADV
cblr-1707	1328	21	expensive	expensive	ADJ
cblr-1707	1328	22	for	for	ADP
cblr-1707	1328	23	low	low	ADJ
cblr-1707	1328	24	-	-	PUNCT
cblr-1707	1328	25	income	income	NOUN
cblr-1707	1328	26	households	household	NOUN
cblr-1707	1328	27	.	.	PUNCT
cblr-1707	1329	1	”238	”238	NOUN
cblr-1707	1329	2	234	234	NUM
cblr-1707	1329	3	for	for	ADP
cblr-1707	1329	4	example	example	NOUN
cblr-1707	1329	5	,	,	PUNCT
cblr-1707	1329	6	see	see	VERB
cblr-1707	1329	7	the	the	DET
cblr-1707	1329	8	fee	fee	NOUN
cblr-1707	1329	9	chart	chart	NOUN
cblr-1707	1329	10	for	for	ADP
cblr-1707	1329	11	the	the	DET
cblr-1707	1329	12	rushcard	rushcard	NOUN
cblr-1707	1329	13	prepaid	prepay	VERB
cblr-1707	1329	14	visa	visa	NOUN
cblr-1707	1329	15	.	.	PUNCT
cblr-1707	1330	1	fee	fee	NOUN
cblr-1707	1330	2	chart	chart	NOUN
cblr-1707	1330	3	,	,	PUNCT
cblr-1707	1330	4	rushcard	rushcard	NOUN
cblr-1707	1330	5	,	,	PUNCT
cblr-1707	1330	6	www.rushcard.com/fee-chart	www.rushcard.com/fee-chart	PROPN
cblr-1707	1331	1	[	[	X
cblr-1707	1331	2	https://perma.cc/wx282bq3	https://perma.cc/wx282bq3	PROPN
cblr-1707	1331	3	]	]	PUNCT
cblr-1707	1331	4	;	;	PUNCT
cblr-1707	1331	5	see	see	AUX
cblr-1707	1331	6	also	also	ADV
cblr-1707	1331	7	prepaid	prepay	VERB
cblr-1707	1331	8	accounts	account	NOUN
cblr-1707	1331	9	under	under	ADP
cblr-1707	1331	10	the	the	DET
cblr-1707	1331	11	electronic	electronic	ADJ
cblr-1707	1331	12	fund	fund	NOUN
cblr-1707	1331	13	transfer	transfer	NOUN
cblr-1707	1331	14	act	act	NOUN
cblr-1707	1331	15	(	(	PUNCT
cblr-1707	1331	16	regulation	regulation	NOUN
cblr-1707	1331	17	e	e	NOUN
cblr-1707	1331	18	)	)	PUNCT
cblr-1707	1331	19	and	and	CCONJ
cblr-1707	1331	20	the	the	DET
cblr-1707	1331	21	truth	truth	NOUN
cblr-1707	1331	22	in	in	ADP
cblr-1707	1331	23	lending	lending	NOUN
cblr-1707	1331	24	act	act	NOUN
cblr-1707	1331	25	(	(	PUNCT
cblr-1707	1331	26	regulation	regulation	NOUN
cblr-1707	1331	27	z	z	NOUN
cblr-1707	1331	28	)	)	PUNCT
cblr-1707	1331	29	,	,	PUNCT
cblr-1707	1331	30	81	81	NUM
cblr-1707	1331	31	fed	feed	VERB
cblr-1707	1331	32	.	.	PUNCT
cblr-1707	1332	1	reg	reg	PROPN
cblr-1707	1332	2	.	.	PROPN
cblr-1707	1332	3	83,934	83,934	NUM
cblr-1707	1332	4	,	,	PUNCT
cblr-1707	1332	5	83,937	83,937	NUM
cblr-1707	1332	6	,	,	PUNCT
cblr-1707	1332	7	83,954	83,954	NUM
cblr-1707	1332	8	(	(	PUNCT
cblr-1707	1332	9	nov	nov	PROPN
cblr-1707	1332	10	.	.	PROPN
cblr-1707	1332	11	22	22	NUM
cblr-1707	1332	12	,	,	PUNCT
cblr-1707	1332	13	2016	2016	NUM
cblr-1707	1332	14	)	)	PUNCT
cblr-1707	1333	1	[	[	X
cblr-1707	1333	2	hereinafter	hereinafter	NOUN
cblr-1707	1333	3	regs	reg	NOUN
cblr-1707	1333	4	.	.	PUNCT
cblr-1707	1334	1	e	e	NOUN
cblr-1707	1334	2	and	and	CCONJ
cblr-1707	1334	3	z	z	NOUN
cblr-1707	1334	4	]	]	X
cblr-1707	1334	5	.	.	PUNCT
cblr-1707	1335	1	235	235	NUM
cblr-1707	1335	2	see	see	VERB
cblr-1707	1335	3	stacy	stacy	PROPN
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cblr-1707	1335	5	,	,	PUNCT
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cblr-1707	1335	7	press	press	VERB
cblr-1707	1335	8	for	for	ADP
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cblr-1707	1335	10	after	after	SCONJ
cblr-1707	1335	11	prepaid	prepaid	ADJ
cblr-1707	1335	12	debit	debit	NOUN
cblr-1707	1335	13	cards	card	NOUN
cblr-1707	1335	14	fail	fail	VERB
cblr-1707	1335	15	,	,	PUNCT
cblr-1707	1335	16	n.y	n.y	PROPN
cblr-1707	1335	17	.	.	PROPN
cblr-1707	1335	18	times	times	PROPN
cblr-1707	1335	19	(	(	PUNCT
cblr-1707	1335	20	june	june	PROPN
cblr-1707	1335	21	28	28	NUM
cblr-1707	1335	22	,	,	PUNCT
cblr-1707	1335	23	2016	2016	NUM
cblr-1707	1335	24	)	)	PUNCT
cblr-1707	1335	25	,	,	PUNCT
cblr-1707	1335	26	https://www.nytimes.com/2016/06/29/business/dealbook/senators-press-foranswers-after-prepaid-debit-cards-fail.html	https://www.nytimes.com/2016/06/29/business/dealbook/senators-press-foranswers-after-prepaid-debit-cards-fail.html	VERB
cblr-1707	1336	1	[	[	X
cblr-1707	1336	2	https://perma.cc/2u8une6u	https://perma.cc/2u8une6u	PROPN
cblr-1707	1336	3	]	]	PUNCT
cblr-1707	1336	4	;	;	PUNCT
cblr-1707	1336	5	liz	liz	PROPN
cblr-1707	1336	6	moyer	moyer	PROPN
cblr-1707	1336	7	&	&	CCONJ
cblr-1707	1336	8	jessica	jessica	PROPN
cblr-1707	1336	9	silver	silver	PROPN
cblr-1707	1336	10	-	-	PUNCT
cblr-1707	1336	11	greenberg	greenberg	PROPN
cblr-1707	1336	12	,	,	PUNCT
cblr-1707	1336	13	rushcard	rushcard	NOUN
cblr-1707	1336	14	breakdown	breakdown	NOUN
cblr-1707	1336	15	affects	affect	VERB
cblr-1707	1336	16	thousands	thousand	NOUN
cblr-1707	1336	17	of	of	ADP
cblr-1707	1336	18	prepaid	prepaid	ADJ
cblr-1707	1336	19	debit	debit	NOUN
cblr-1707	1336	20	card	card	NOUN
cblr-1707	1336	21	users	user	NOUN
cblr-1707	1336	22	,	,	PUNCT
cblr-1707	1336	23	n.y	n.y	PROPN
cblr-1707	1336	24	.	.	PROPN
cblr-1707	1336	25	times	times	PROPN
cblr-1707	1336	26	(	(	PUNCT
cblr-1707	1336	27	oct	oct	PROPN
cblr-1707	1336	28	.	.	PROPN
cblr-1707	1336	29	20	20	NUM
cblr-1707	1336	30	,	,	PUNCT
cblr-1707	1336	31	2015	2015	NUM
cblr-1707	1336	32	)	)	PUNCT
cblr-1707	1336	33	,	,	PUNCT
cblr-1707	1336	34	https://www.nytimes.com/2015/10/21/business/dealbook/after-technicalsnag-fury-and-no-cash.html	https://www.nytimes.com/2015/10/21/business/dealbook/after-technicalsnag-fury-and-no-cash.html	X
cblr-1707	1337	1	[	[	X
cblr-1707	1337	2	https://perma.cc/gr56-8n9u	https://perma.cc/gr56-8n9u	X
cblr-1707	1337	3	]	]	X
cblr-1707	1337	4	.	.	PUNCT
cblr-1707	1337	5	236	236	NUM
cblr-1707	1337	6	barr	barr	PROPN
cblr-1707	1337	7	&	&	CCONJ
cblr-1707	1337	8	blank	blank	PROPN
cblr-1707	1337	9	,	,	PUNCT
cblr-1707	1337	10	supra	supra	PROPN
cblr-1707	1337	11	note	note	NOUN
cblr-1707	1337	12	233	233	NUM
cblr-1707	1337	13	,	,	PUNCT
cblr-1707	1337	14	at	at	ADP
cblr-1707	1337	15	3	3	NUM
cblr-1707	1337	16	.	.	NOUN
cblr-1707	1337	17	237	237	NUM
cblr-1707	1337	18	i	i	PRON
cblr-1707	1337	19	d.	d.	PROPN
cblr-1707	1337	20	at	at	ADP
cblr-1707	1337	21	4	4	NUM
cblr-1707	1337	22	.	.	NUM
cblr-1707	1337	23	238	238	NUM
cblr-1707	1338	1	i	i	PRON
cblr-1707	1338	2	d.	d.	PROPN
cblr-1707	1338	3	at	at	ADP
cblr-1707	1338	4	14	14	NUM
cblr-1707	1338	5	.	.	PUNCT
cblr-1707	1339	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	1339	2	830	830	NUM
cblr-1707	1339	3	columbia	columbia	PROPN
cblr-1707	1339	4	business	business	NOUN
cblr-1707	1339	5	law	law	PROPN
cblr-1707	1339	6	review	review	NOUN
cblr-1707	1339	7	[	[	X
cblr-1707	1339	8	vol	vol	NOUN
cblr-1707	1339	9	.	.	NOUN
cblr-1707	1339	10	2018	2018	NUM
cblr-1707	1339	11	bank	bank	NOUN
cblr-1707	1339	12	accounts	account	NOUN
cblr-1707	1339	13	,	,	PUNCT
cblr-1707	1339	14	as	as	ADP
cblr-1707	1339	15	currently	currently	ADV
cblr-1707	1339	16	structured	structure	VERB
cblr-1707	1339	17	,	,	PUNCT
cblr-1707	1339	18	are	be	AUX
cblr-1707	1339	19	inhospitable	inhospitable	ADJ
cblr-1707	1339	20	or	or	CCONJ
cblr-1707	1339	21	simply	simply	ADV
cblr-1707	1339	22	unavailable	unavailable	ADJ
cblr-1707	1339	23	to	to	ADP
cblr-1707	1339	24	many	many	ADJ
cblr-1707	1339	25	consumers	consumer	NOUN
cblr-1707	1339	26	.	.	PUNCT
cblr-1707	1340	1	minimum	minimum	ADJ
cblr-1707	1340	2	balance	balance	NOUN
cblr-1707	1340	3	requirements	requirement	NOUN
cblr-1707	1340	4	are	be	AUX
cblr-1707	1340	5	a	a	DET
cblr-1707	1340	6	major	major	ADJ
cblr-1707	1340	7	obstacle	obstacle	NOUN
cblr-1707	1340	8	for	for	ADP
cblr-1707	1340	9	households	household	NOUN
cblr-1707	1340	10	living	live	VERB
cblr-1707	1340	11	paycheck	paycheck	NOUN
cblr-1707	1340	12	to	to	ADP
cblr-1707	1340	13	paycheck	paycheck	NOUN
cblr-1707	1340	14	,	,	PUNCT
cblr-1707	1340	15	as	as	SCONJ
cblr-1707	1340	16	are	be	AUX
cblr-1707	1340	17	delays	delay	NOUN
cblr-1707	1340	18	in	in	ADP
cblr-1707	1340	19	check	check	NOUN
cblr-1707	1340	20	clearance	clearance	NOUN
cblr-1707	1340	21	.	.	PUNCT
cblr-1707	1341	1	account	account	NOUN
cblr-1707	1341	2	fees	fee	NOUN
cblr-1707	1341	3	,	,	PUNCT
cblr-1707	1341	4	including	include	VERB
cblr-1707	1341	5	annual	annual	ADJ
cblr-1707	1341	6	fees	fee	NOUN
cblr-1707	1341	7	and	and	CCONJ
cblr-1707	1341	8	bounced	bounce	VERB
cblr-1707	1341	9	check	check	NOUN
cblr-1707	1341	10	fees	fee	NOUN
cblr-1707	1341	11	,	,	PUNCT
cblr-1707	1341	12	are	be	AUX
cblr-1707	1341	13	substantial	substantial	ADJ
cblr-1707	1341	14	for	for	ADP
cblr-1707	1341	15	low	low	ADJ
cblr-1707	1341	16	-	-	PUNCT
cblr-1707	1341	17	balance	balance	NOUN
cblr-1707	1341	18	depositors	depositor	NOUN
cblr-1707	1341	19	and	and	CCONJ
cblr-1707	1341	20	may	may	AUX
cblr-1707	1341	21	deter	deter	VERB
cblr-1707	1341	22	them	they	PRON
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cblr-1707	1341	24	opening	open	VERB
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cblr-1707	1341	27	accounts	account	NOUN
cblr-1707	1341	28	.	.	PUNCT
cblr-1707	1342	1	a	a	DET
cblr-1707	1342	2	history	history	NOUN
cblr-1707	1342	3	of	of	ADP
cblr-1707	1342	4	bounced	bounce	VERB
cblr-1707	1342	5	checks	check	NOUN
cblr-1707	1342	6	may	may	AUX
cblr-1707	1342	7	also	also	ADV
cblr-1707	1342	8	preclude	preclude	VERB
cblr-1707	1342	9	access	access	NOUN
cblr-1707	1342	10	to	to	ADP
cblr-1707	1342	11	a	a	DET
cblr-1707	1342	12	bank	bank	NOUN
cblr-1707	1342	13	account	account	NOUN
cblr-1707	1342	14	.	.	PUNCT
cblr-1707	1343	1	banks	bank	NOUN
cblr-1707	1343	2	use	use	VERB
cblr-1707	1343	3	the	the	DET
cblr-1707	1343	4	private	private	ADJ
cblr-1707	1343	5	chexsystem	chexsystem	NOUN
cblr-1707	1343	6	to	to	PART
cblr-1707	1343	7	screen	screen	VERB
cblr-1707	1343	8	out	out	ADP
cblr-1707	1343	9	users	user	NOUN
cblr-1707	1343	10	who	who	PRON
cblr-1707	1343	11	have	have	AUX
cblr-1707	1343	12	had	have	VERB
cblr-1707	1343	13	problems	problem	NOUN
cblr-1707	1343	14	with	with	ADP
cblr-1707	1343	15	checking	check	VERB
cblr-1707	1343	16	accounts	account	NOUN
cblr-1707	1343	17	in	in	ADP
cblr-1707	1343	18	the	the	DET
cblr-1707	1343	19	past.239	past.239	NOUN
cblr-1707	1343	20	also	also	ADV
cblr-1707	1343	21	,	,	PUNCT
cblr-1707	1343	22	bank	bank	NOUN
cblr-1707	1343	23	branch	branch	NOUN
cblr-1707	1343	24	locations	location	NOUN
cblr-1707	1343	25	are	be	AUX
cblr-1707	1343	26	less	less	ADV
cblr-1707	1343	27	prevalent	prevalent	ADJ
cblr-1707	1343	28	in	in	ADP
cblr-1707	1343	29	low	low	ADJ
cblr-1707	1343	30	-	-	PUNCT
cblr-1707	1343	31	income	income	NOUN
cblr-1707	1343	32	communities	community	NOUN
cblr-1707	1343	33	,	,	PUNCT
cblr-1707	1343	34	and	and	CCONJ
cblr-1707	1343	35	their	their	PRON
cblr-1707	1343	36	hours	hour	NOUN
cblr-1707	1343	37	of	of	ADP
cblr-1707	1343	38	operation	operation	NOUN
cblr-1707	1343	39	are	be	AUX
cblr-1707	1343	40	inconvenient	inconvenient	ADJ
cblr-1707	1343	41	for	for	ADP
cblr-1707	1343	42	many	many	ADJ
cblr-1707	1343	43	prospective	prospective	ADJ
cblr-1707	1343	44	users	user	NOUN
cblr-1707	1343	45	.	.	PUNCT
cblr-1707	1344	1	cultural	cultural	ADJ
cblr-1707	1344	2	and	and	CCONJ
cblr-1707	1344	3	sociological	sociological	ADJ
cblr-1707	1344	4	factors	factor	NOUN
cblr-1707	1344	5	also	also	ADV
cblr-1707	1344	6	come	come	VERB
cblr-1707	1344	7	into	into	ADP
cblr-1707	1344	8	play	play	NOUN
cblr-1707	1344	9	.	.	PUNCT
cblr-1707	1345	1	among	among	ADP
cblr-1707	1345	2	the	the	DET
cblr-1707	1345	3	unbanked	unbanked	NOUN
cblr-1707	1345	4	,	,	PUNCT
cblr-1707	1345	5	a	a	DET
cblr-1707	1345	6	frequently	frequently	ADV
cblr-1707	1345	7	cited	cite	VERB
cblr-1707	1345	8	reason	reason	NOUN
cblr-1707	1345	9	for	for	ADP
cblr-1707	1345	10	lacking	lack	VERB
cblr-1707	1345	11	a	a	DET
cblr-1707	1345	12	bank	bank	NOUN
cblr-1707	1345	13	account	account	NOUN
cblr-1707	1345	14	is	be	AUX
cblr-1707	1345	15	dislike	dislike	NOUN
cblr-1707	1345	16	or	or	CCONJ
cblr-1707	1345	17	distrust	distrust	NOUN
cblr-1707	1345	18	of	of	ADP
cblr-1707	1345	19	banks.240	banks.240	NOUN
cblr-1707	1345	20	it	it	PRON
cblr-1707	1345	21	is	be	AUX
cblr-1707	1345	22	not	not	PART
cblr-1707	1345	23	only	only	ADV
cblr-1707	1345	24	the	the	DET
cblr-1707	1345	25	unbanked	unbanked	NOUN
cblr-1707	1345	26	who	who	PRON
cblr-1707	1345	27	are	be	AUX
cblr-1707	1345	28	ill	ill	ADV
cblr-1707	1345	29	-	-	PUNCT
cblr-1707	1345	30	served	serve	VERB
cblr-1707	1345	31	by	by	ADP
cblr-1707	1345	32	the	the	DET
cblr-1707	1345	33	existing	exist	VERB
cblr-1707	1345	34	payments	payment	NOUN
cblr-1707	1345	35	architecture	architecture	NOUN
cblr-1707	1345	36	.	.	PUNCT
cblr-1707	1346	1	another	another	DET
cblr-1707	1346	2	18.7	18.7	NUM
cblr-1707	1346	3	%	%	NOUN
cblr-1707	1346	4	of	of	ADP
cblr-1707	1346	5	u.s	u.s	PROPN
cblr-1707	1346	6	.	.	PROPN
cblr-1707	1346	7	households	household	NOUN
cblr-1707	1346	8	—	—	PUNCT
cblr-1707	1346	9	comprising	comprise	VERB
cblr-1707	1346	10	forty	forty	NUM
cblr-1707	1346	11	-	-	PUNCT
cblr-1707	1346	12	nine	nine	NUM
cblr-1707	1346	13	million	million	NUM
cblr-1707	1346	14	adults	adult	NOUN
cblr-1707	1346	15	and	and	CCONJ
cblr-1707	1346	16	fifteen	fifteen	NUM
cblr-1707	1346	17	million	million	NUM
cblr-1707	1346	18	children	child	NOUN
cblr-1707	1346	19	—	—	PUNCT
cblr-1707	1346	20	are	be	AUX
cblr-1707	1346	21	“	"	PUNCT
cblr-1707	1346	22	underbanked	underbanked	ADJ
cblr-1707	1346	23	,	,	PUNCT
cblr-1707	1346	24	”	"	PUNCT
cblr-1707	1346	25	meaning	mean	VERB
cblr-1707	1346	26	that	that	SCONJ
cblr-1707	1346	27	,	,	PUNCT
cblr-1707	1346	28	despite	despite	SCONJ
cblr-1707	1346	29	having	have	VERB
cblr-1707	1346	30	a	a	DET
cblr-1707	1346	31	bank	bank	NOUN
cblr-1707	1346	32	account	account	NOUN
cblr-1707	1346	33	,	,	PUNCT
cblr-1707	1346	34	they	they	PRON
cblr-1707	1346	35	rely	rely	VERB
cblr-1707	1346	36	to	to	ADP
cblr-1707	1346	37	some	some	DET
cblr-1707	1346	38	degree	degree	NOUN
cblr-1707	1346	39	on	on	ADP
cblr-1707	1346	40	expensive	expensive	ADJ
cblr-1707	1346	41	nonbank	nonbank	NOUN
cblr-1707	1346	42	services	service	NOUN
cblr-1707	1346	43	for	for	ADP
cblr-1707	1346	44	payments	payment	NOUN
cblr-1707	1346	45	and	and	CCONJ
cblr-1707	1346	46	other	other	ADJ
cblr-1707	1346	47	financial	financial	ADJ
cblr-1707	1346	48	needs.241	needs.241	NOUN
cblr-1707	1346	49	for	for	ADP
cblr-1707	1346	50	example	example	NOUN
cblr-1707	1346	51	,	,	PUNCT
cblr-1707	1346	52	these	these	DET
cblr-1707	1346	53	underbanked	underbanked	ADJ
cblr-1707	1346	54	households	household	NOUN
cblr-1707	1346	55	,	,	PUNCT
cblr-1707	1346	56	which	which	PRON
cblr-1707	1346	57	are	be	AUX
cblr-1707	1346	58	predominately	predominately	ADV
cblr-1707	1346	59	lowor	lowor	ADJ
cblr-1707	1346	60	moderate	moderate	ADJ
cblr-1707	1346	61	-	-	PUNCT
cblr-1707	1346	62	income	income	NOUN
cblr-1707	1346	63	,	,	PUNCT
cblr-1707	1346	64	may	may	AUX
cblr-1707	1346	65	resort	resort	VERB
cblr-1707	1346	66	to	to	ADP
cblr-1707	1346	67	expensive	expensive	ADJ
cblr-1707	1346	68	nonbank	nonbank	NOUN
cblr-1707	1346	69	check	check	NOUN
cblr-1707	1346	70	cashing	cash	VERB
cblr-1707	1346	71	for	for	ADP
cblr-1707	1346	72	reasons	reason	NOUN
cblr-1707	1346	73	of	of	ADP
cblr-1707	1346	74	convenience	convenience	NOUN
cblr-1707	1346	75	and	and	CCONJ
cblr-1707	1346	76	immediacy	immediacy	NOUN
cblr-1707	1346	77	of	of	ADP
cblr-1707	1346	78	payment.242	payment.242	NOUN
cblr-1707	1346	79	the	the	DET
cblr-1707	1346	80	plight	plight	NOUN
cblr-1707	1346	81	of	of	ADP
cblr-1707	1346	82	the	the	DET
cblr-1707	1346	83	unand	unand	NOUN
cblr-1707	1346	84	underbanked	underbanked	ADJ
cblr-1707	1346	85	has	have	AUX
cblr-1707	1346	86	attracted	attract	VERB
cblr-1707	1346	87	intermittent	intermittent	ADJ
cblr-1707	1346	88	regulatory	regulatory	ADJ
cblr-1707	1346	89	and	and	CCONJ
cblr-1707	1346	90	legislative	legislative	ADJ
cblr-1707	1346	91	attention	attention	NOUN
cblr-1707	1346	92	in	in	ADP
cblr-1707	1346	93	the	the	DET
cblr-1707	1346	94	united	united	PROPN
cblr-1707	1346	95	states	states	PROPN
cblr-1707	1346	96	,	,	PUNCT
cblr-1707	1346	97	but	but	CCONJ
cblr-1707	1346	98	without	without	ADP
cblr-1707	1346	99	meaningful	meaningful	ADJ
cblr-1707	1346	100	results	result	NOUN
cblr-1707	1346	101	.	.	PUNCT
cblr-1707	1347	1	the	the	DET
cblr-1707	1347	2	239	239	NUM
cblr-1707	1347	3	see	see	VERB
cblr-1707	1347	4	james	james	PROPN
cblr-1707	1347	5	marvin	marvin	PROPN
cblr-1707	1347	6	pérez	pérez	PROPN
cblr-1707	1347	7	,	,	PUNCT
cblr-1707	1347	8	note	note	NOUN
cblr-1707	1347	9	,	,	PUNCT
cblr-1707	1347	10	blacklisted	blacklist	VERB
cblr-1707	1347	11	:	:	PUNCT
cblr-1707	1347	12	the	the	DET
cblr-1707	1347	13	unwarranted	unwarranted	ADJ
cblr-1707	1347	14	divestment	divestment	NOUN
cblr-1707	1347	15	of	of	ADP
cblr-1707	1347	16	access	access	NOUN
cblr-1707	1347	17	to	to	ADP
cblr-1707	1347	18	bank	bank	NOUN
cblr-1707	1347	19	accounts	account	NOUN
cblr-1707	1347	20	,	,	PUNCT
cblr-1707	1347	21	80	80	NUM
cblr-1707	1347	22	n.y.u	n.y.u	NOUN
cblr-1707	1347	23	.	.	PUNCT
cblr-1707	1348	1	l.	l.	PROPN
cblr-1707	1348	2	rev	rev	PROPN
cblr-1707	1348	3	.	.	PROPN
cblr-1707	1348	4	1586	1586	NUM
cblr-1707	1348	5	,	,	PUNCT
cblr-1707	1348	6	1586	1586	NUM
cblr-1707	1348	7	(	(	PUNCT
cblr-1707	1348	8	2005	2005	NUM
cblr-1707	1348	9	)	)	PUNCT
cblr-1707	1348	10	.	.	PUNCT
cblr-1707	1349	1	240	240	NUM
cblr-1707	1349	2	see	see	VERB
cblr-1707	1349	3	fed	fed	PROPN
cblr-1707	1349	4	.	.	PUNCT
cblr-1707	1350	1	deposit	deposit	PROPN
cblr-1707	1350	2	ins	ins	PROPN
cblr-1707	1350	3	.	.	PUNCT
cblr-1707	1350	4	corp	corp	PROPN
cblr-1707	1350	5	.	.	PROPN
cblr-1707	1350	6	,	,	PUNCT
cblr-1707	1350	7	2013	2013	NUM
cblr-1707	1350	8	fdic	fdic	PROPN
cblr-1707	1350	9	national	national	ADJ
cblr-1707	1350	10	survey	survey	NOUN
cblr-1707	1350	11	of	of	ADP
cblr-1707	1350	12	unbanked	unbanked	ADJ
cblr-1707	1350	13	and	and	CCONJ
cblr-1707	1350	14	underbanked	underbanked	ADJ
cblr-1707	1350	15	households	household	NOUN
cblr-1707	1350	16	24	24	NUM
cblr-1707	1350	17	(	(	PUNCT
cblr-1707	1350	18	2014	2014	NUM
cblr-1707	1350	19	)	)	PUNCT
cblr-1707	1350	20	.	.	PUNCT
cblr-1707	1351	1	241	241	NUM
cblr-1707	1351	2	see	see	VERB
cblr-1707	1351	3	2017	2017	NUM
cblr-1707	1351	4	fdic	fdic	PROPN
cblr-1707	1351	5	national	national	ADJ
cblr-1707	1351	6	survey	survey	NOUN
cblr-1707	1351	7	,	,	PUNCT
cblr-1707	1351	8	supra	supra	PROPN
cblr-1707	1351	9	note	note	NOUN
cblr-1707	1351	10	232	232	NUM
cblr-1707	1351	11	,	,	PUNCT
cblr-1707	1351	12	at	at	ADP
cblr-1707	1351	13	17	17	NUM
cblr-1707	1351	14	.	.	PUNCT
cblr-1707	1351	15	242	242	NUM
cblr-1707	1351	16	see	see	VERB
cblr-1707	1351	17	rachel	rachel	PROPN
cblr-1707	1351	18	schneider	schneider	PROPN
cblr-1707	1351	19	&	&	CCONJ
cblr-1707	1351	20	balafama	balafama	PROPN
cblr-1707	1351	21	longjohn	longjohn	PROPN
cblr-1707	1351	22	,	,	PUNCT
cblr-1707	1351	23	cent	cent	NOUN
cblr-1707	1351	24	.	.	PUNCT
cblr-1707	1352	1	for	for	ADP
cblr-1707	1352	2	fin	fin	NOUN
cblr-1707	1352	3	.	.	PUNCT
cblr-1707	1353	1	servs	servs	PROPN
cblr-1707	1353	2	.	.	PUNCT
cblr-1707	1354	1	innovation	innovation	NOUN
cblr-1707	1354	2	,	,	PUNCT
cblr-1707	1354	3	beyond	beyond	ADP
cblr-1707	1354	4	check	check	NOUN
cblr-1707	1354	5	-	-	PUNCT
cblr-1707	1354	6	cashing	cashing	NOUN
cblr-1707	1354	7	:	:	PUNCT
cblr-1707	1354	8	an	an	DET
cblr-1707	1354	9	examination	examination	NOUN
cblr-1707	1354	10	of	of	ADP
cblr-1707	1354	11	consumer	consumer	NOUN
cblr-1707	1354	12	demand	demand	NOUN
cblr-1707	1354	13	and	and	CCONJ
cblr-1707	1354	14	business	business	NOUN
cblr-1707	1354	15	innovation	innovation	NOUN
cblr-1707	1354	16	for	for	ADP
cblr-1707	1354	17	immediate	immediate	ADJ
cblr-1707	1354	18	access	access	NOUN
cblr-1707	1354	19	to	to	PART
cblr-1707	1354	20	check	check	VERB
cblr-1707	1354	21	funds	fund	NOUN
cblr-1707	1354	22	(	(	PUNCT
cblr-1707	1354	23	2014	2014	NUM
cblr-1707	1354	24	)	)	PUNCT
cblr-1707	1354	25	.	.	PUNCT
cblr-1707	1355	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	1355	2	no	no	NOUN
cblr-1707	1355	3	.	.	PUNCT
cblr-1707	1356	1	3:757	3:757	NUM
cblr-1707	1356	2	]	]	X
cblr-1707	1356	3	money	money	NOUN
cblr-1707	1356	4	as	as	ADP
cblr-1707	1356	5	infrastructure	infrastructure	NOUN
cblr-1707	1356	6	831	831	NUM
cblr-1707	1356	7	percentage	percentage	NOUN
cblr-1707	1356	8	of	of	ADP
cblr-1707	1356	9	americans	americans	PROPN
cblr-1707	1356	10	who	who	PRON
cblr-1707	1356	11	were	be	AUX
cblr-1707	1356	12	unbanked	unbanked	ADJ
cblr-1707	1356	13	appears	appear	VERB
cblr-1707	1356	14	to	to	PART
cblr-1707	1356	15	have	have	AUX
cblr-1707	1356	16	spiked	spike	VERB
cblr-1707	1356	17	around	around	ADP
cblr-1707	1356	18	the	the	DET
cblr-1707	1356	19	time	time	NOUN
cblr-1707	1356	20	that	that	PRON
cblr-1707	1356	21	deposit	deposit	NOUN
cblr-1707	1356	22	interest	interest	NOUN
cblr-1707	1356	23	rate	rate	NOUN
cblr-1707	1356	24	controls	control	NOUN
cblr-1707	1356	25	were	be	AUX
cblr-1707	1356	26	phased	phase	VERB
cblr-1707	1356	27	out	out	ADP
cblr-1707	1356	28	in	in	ADP
cblr-1707	1356	29	the	the	DET
cblr-1707	1356	30	early	early	ADJ
cblr-1707	1356	31	1980s.243	1980s.243	PROPN
cblr-1707	1356	32	some	some	DET
cblr-1707	1356	33	analysts	analyst	NOUN
cblr-1707	1356	34	have	have	AUX
cblr-1707	1356	35	inferred	infer	VERB
cblr-1707	1356	36	causality	causality	NOUN
cblr-1707	1356	37	,	,	PUNCT
cblr-1707	1356	38	suggesting	suggest	VERB
cblr-1707	1356	39	that	that	SCONJ
cblr-1707	1356	40	increased	increase	VERB
cblr-1707	1356	41	competition	competition	NOUN
cblr-1707	1356	42	caused	cause	VERB
cblr-1707	1356	43	banks	bank	NOUN
cblr-1707	1356	44	to	to	PART
cblr-1707	1356	45	eliminate	eliminate	VERB
cblr-1707	1356	46	unprofitable	unprofitable	ADJ
cblr-1707	1356	47	services	service	NOUN
cblr-1707	1356	48	and	and	CCONJ
cblr-1707	1356	49	close	close	ADJ
cblr-1707	1356	50	branches	branch	NOUN
cblr-1707	1356	51	in	in	ADP
cblr-1707	1356	52	less	less	ADV
cblr-1707	1356	53	prosperous	prosperous	ADJ
cblr-1707	1356	54	areas.244	areas.244	ADP
cblr-1707	1356	55	whatever	whatever	PRON
cblr-1707	1356	56	the	the	DET
cblr-1707	1356	57	catalyst	catalyst	NOUN
cblr-1707	1356	58	,	,	PUNCT
cblr-1707	1356	59	consumer	consumer	NOUN
cblr-1707	1356	60	advocates	advocate	NOUN
cblr-1707	1356	61	drew	draw	VERB
cblr-1707	1356	62	attention	attention	NOUN
cblr-1707	1356	63	to	to	ADP
cblr-1707	1356	64	the	the	DET
cblr-1707	1356	65	issue	issue	NOUN
cblr-1707	1356	66	in	in	ADP
cblr-1707	1356	67	the	the	DET
cblr-1707	1356	68	mid-1980s.245	mid-1980s.245	PROPN
cblr-1707	1356	69	in	in	ADP
cblr-1707	1356	70	1987	1987	NUM
cblr-1707	1356	71	the	the	DET
cblr-1707	1356	72	federal	federal	PROPN
cblr-1707	1356	73	bank	bank	PROPN
cblr-1707	1356	74	regulatory	regulatory	ADJ
cblr-1707	1356	75	agencies	agency	NOUN
cblr-1707	1356	76	,	,	PUNCT
cblr-1707	1356	77	in	in	ADP
cblr-1707	1356	78	conjunction	conjunction	NOUN
cblr-1707	1356	79	with	with	ADP
cblr-1707	1356	80	state	state	NOUN
cblr-1707	1356	81	bank	bank	NOUN
cblr-1707	1356	82	supervisors	supervisor	NOUN
cblr-1707	1356	83	,	,	PUNCT
cblr-1707	1356	84	adopted	adopt	VERB
cblr-1707	1356	85	an	an	DET
cblr-1707	1356	86	interagency	interagency	NOUN
cblr-1707	1356	87	policy	policy	NOUN
cblr-1707	1356	88	statement	statement	NOUN
cblr-1707	1356	89	on	on	ADP
cblr-1707	1356	90	the	the	DET
cblr-1707	1356	91	topic	topic	NOUN
cblr-1707	1356	92	.	.	PUNCT
cblr-1707	1357	1	the	the	DET
cblr-1707	1357	2	statement	statement	NOUN
cblr-1707	1357	3	expressed	express	VERB
cblr-1707	1357	4	“	"	PUNCT
cblr-1707	1357	5	concerns	concern	NOUN
cblr-1707	1357	6	”	"	PUNCT
cblr-1707	1357	7	over	over	ADP
cblr-1707	1357	8	apparent	apparent	ADJ
cblr-1707	1357	9	declines	decline	NOUN
cblr-1707	1357	10	in	in	ADP
cblr-1707	1357	11	account	account	NOUN
cblr-1707	1357	12	ownership	ownership	NOUN
cblr-1707	1357	13	,	,	PUNCT
cblr-1707	1357	14	“	"	PUNCT
cblr-1707	1357	15	encourage[d	encourage[d	PROPN
cblr-1707	1357	16	]	]	PUNCT
cblr-1707	1357	17	”	"	PUNCT
cblr-1707	1357	18	the	the	DET
cblr-1707	1357	19	banking	banking	NOUN
cblr-1707	1357	20	industry	industry	NOUN
cblr-1707	1357	21	“	"	PUNCT
cblr-1707	1357	22	to	to	PART
cblr-1707	1357	23	meet	meet	VERB
cblr-1707	1357	24	certain	certain	ADJ
cblr-1707	1357	25	minimum	minimum	ADJ
cblr-1707	1357	26	needs	need	NOUN
cblr-1707	1357	27	of	of	ADP
cblr-1707	1357	28	all	all	DET
cblr-1707	1357	29	consumers	consumer	NOUN
cblr-1707	1357	30	,	,	PUNCT
cblr-1707	1357	31	”	"	PUNCT
cblr-1707	1357	32	and	and	CCONJ
cblr-1707	1357	33	expressed	express	VERB
cblr-1707	1357	34	confidence	confidence	NOUN
cblr-1707	1357	35	that	that	SCONJ
cblr-1707	1357	36	the	the	DET
cblr-1707	1357	37	industry	industry	NOUN
cblr-1707	1357	38	could	could	AUX
cblr-1707	1357	39	mount	mount	VERB
cblr-1707	1357	40	a	a	DET
cblr-1707	1357	41	“	"	PUNCT
cblr-1707	1357	42	constructive	constructive	ADJ
cblr-1707	1357	43	response	response	NOUN
cblr-1707	1357	44	without	without	ADP
cblr-1707	1357	45	the	the	DET
cblr-1707	1357	46	rigidities	rigidity	NOUN
cblr-1707	1357	47	of	of	ADP
cblr-1707	1357	48	legislation	legislation	NOUN
cblr-1707	1357	49	or	or	CCONJ
cblr-1707	1357	50	regulation	regulation	NOUN
cblr-1707	1357	51	.	.	PUNCT
cblr-1707	1358	1	”246	”246	PUNCT
cblr-1707	1359	1	around	around	ADP
cblr-1707	1359	2	the	the	DET
cblr-1707	1359	3	same	same	ADJ
cblr-1707	1359	4	time	time	NOUN
cblr-1707	1359	5	,	,	PUNCT
cblr-1707	1359	6	states	state	NOUN
cblr-1707	1359	7	began	begin	VERB
cblr-1707	1359	8	considering	consider	VERB
cblr-1707	1359	9	legislation	legislation	NOUN
cblr-1707	1359	10	to	to	PART
cblr-1707	1359	11	address	address	VERB
cblr-1707	1359	12	the	the	DET
cblr-1707	1359	13	issue	issue	NOUN
cblr-1707	1359	14	.	.	PUNCT
cblr-1707	1360	1	several	several	ADJ
cblr-1707	1360	2	states	state	NOUN
cblr-1707	1360	3	adopted	adopt	VERB
cblr-1707	1360	4	“	"	PUNCT
cblr-1707	1360	5	lifeline	lifeline	NOUN
cblr-1707	1360	6	account	account	NOUN
cblr-1707	1360	7	”	"	PUNCT
cblr-1707	1360	8	legislation	legislation	NOUN
cblr-1707	1360	9	in	in	ADP
cblr-1707	1360	10	the	the	DET
cblr-1707	1360	11	late	late	ADJ
cblr-1707	1360	12	1980s	1980	NOUN
cblr-1707	1360	13	and	and	CCONJ
cblr-1707	1360	14	early	early	ADJ
cblr-1707	1360	15	1990s	1990	NOUN
cblr-1707	1360	16	requiring	require	VERB
cblr-1707	1360	17	that	that	SCONJ
cblr-1707	1360	18	state	state	NOUN
cblr-1707	1360	19	-	-	PUNCT
cblr-1707	1360	20	chartered	charter	VERB
cblr-1707	1360	21	commercial	commercial	ADJ
cblr-1707	1360	22	banks	bank	NOUN
cblr-1707	1360	23	offer	offer	VERB
cblr-1707	1360	24	low	low	ADJ
cblr-1707	1360	25	-	-	PUNCT
cblr-1707	1360	26	cost	cost	NOUN
cblr-1707	1360	27	,	,	PUNCT
cblr-1707	1360	28	basic	basic	ADJ
cblr-1707	1360	29	accounts	account	NOUN
cblr-1707	1360	30	.	.	PUNCT
cblr-1707	1361	1	take	take	VERB
cblr-1707	1361	2	-	-	PUNCT
cblr-1707	1361	3	up	up	NOUN
cblr-1707	1361	4	was	be	AUX
cblr-1707	1361	5	lackluster	lackluster	ADJ
cblr-1707	1361	6	for	for	ADP
cblr-1707	1361	7	a	a	DET
cblr-1707	1361	8	variety	variety	NOUN
cblr-1707	1361	9	of	of	ADP
cblr-1707	1361	10	reasons	reason	NOUN
cblr-1707	1361	11	.	.	PUNCT
cblr-1707	1362	1	customers	customer	NOUN
cblr-1707	1362	2	living	live	VERB
cblr-1707	1362	3	paycheck	paycheck	NOUN
cblr-1707	1362	4	to	to	PART
cblr-1707	1362	5	paycheck	paycheck	VERB
cblr-1707	1362	6	need	need	VERB
cblr-1707	1362	7	payment	payment	NOUN
cblr-1707	1362	8	immediacy	immediacy	NOUN
cblr-1707	1362	9	,	,	PUNCT
cblr-1707	1362	10	which	which	PRON
cblr-1707	1362	11	limits	limit	VERB
cblr-1707	1362	12	the	the	DET
cblr-1707	1362	13	appeal	appeal	NOUN
cblr-1707	1362	14	of	of	ADP
cblr-1707	1362	15	even	even	ADV
cblr-1707	1362	16	lowcost	lowcost	PROPN
cblr-1707	1362	17	accounts	account	NOUN
cblr-1707	1362	18	.	.	PUNCT
cblr-1707	1363	1	locational	locational	ADJ
cblr-1707	1363	2	convenience	convenience	NOUN
cblr-1707	1363	3	,	,	PUNCT
cblr-1707	1363	4	consumer	consumer	NOUN
cblr-1707	1363	5	sentiment	sentiment	NOUN
cblr-1707	1363	6	,	,	PUNCT
cblr-1707	1363	7	and	and	CCONJ
cblr-1707	1363	8	lack	lack	NOUN
cblr-1707	1363	9	of	of	ADP
cblr-1707	1363	10	consumer	consumer	NOUN
cblr-1707	1363	11	information	information	NOUN
cblr-1707	1363	12	also	also	ADV
cblr-1707	1363	13	played	play	VERB
cblr-1707	1363	14	a	a	DET
cblr-1707	1363	15	role.247	role.247	NOUN
cblr-1707	1363	16	empirically	empirically	ADV
cblr-1707	1363	17	,	,	PUNCT
cblr-1707	1363	18	lifeline	lifeline	NOUN
cblr-1707	1363	19	banking	banking	NOUN
cblr-1707	1363	20	legislation	legislation	NOUN
cblr-1707	1363	21	had	have	VERB
cblr-1707	1363	22	virtually	virtually	ADV
cblr-1707	1363	23	no	no	DET
cblr-1707	1363	24	effect	effect	NOUN
cblr-1707	1364	1	243	243	NUM
cblr-1707	1364	2	see	see	VERB
cblr-1707	1364	3	ebonya	ebonya	PROPN
cblr-1707	1364	4	washington	washington	PROPN
cblr-1707	1364	5	,	,	PUNCT
cblr-1707	1364	6	the	the	DET
cblr-1707	1364	7	impact	impact	NOUN
cblr-1707	1364	8	of	of	ADP
cblr-1707	1364	9	banking	banking	NOUN
cblr-1707	1364	10	and	and	CCONJ
cblr-1707	1364	11	fringe	fringe	NOUN
cblr-1707	1364	12	banking	banking	NOUN
cblr-1707	1364	13	regulation	regulation	NOUN
cblr-1707	1364	14	on	on	ADP
cblr-1707	1364	15	the	the	DET
cblr-1707	1364	16	number	number	NOUN
cblr-1707	1364	17	of	of	ADP
cblr-1707	1364	18	unbanked	unbanked	ADJ
cblr-1707	1364	19	americans	americans	PROPN
cblr-1707	1364	20	,	,	PUNCT
cblr-1707	1364	21	41	41	NUM
cblr-1707	1364	22	j.	j.	PROPN
cblr-1707	1364	23	hum	hum	PROPN
cblr-1707	1364	24	.	.	PUNCT
cblr-1707	1365	1	resources	resource	NOUN
cblr-1707	1365	2	106	106	NUM
cblr-1707	1365	3	,	,	PUNCT
cblr-1707	1365	4	112	112	NUM
cblr-1707	1365	5	tbl.2	tbl.2	PROPN
cblr-1707	1365	6	(	(	PUNCT
cblr-1707	1365	7	2006	2006	NUM
cblr-1707	1365	8	)	)	PUNCT
cblr-1707	1365	9	.	.	PUNCT
cblr-1707	1366	1	244	244	NUM
cblr-1707	1366	2	see	see	NOUN
cblr-1707	1366	3	,	,	PUNCT
cblr-1707	1366	4	e.g.	e.g.	ADV
cblr-1707	1366	5	,	,	PUNCT
cblr-1707	1366	6	john	john	PROPN
cblr-1707	1366	7	p.	p.	PROPN
cblr-1707	1366	8	caskey	caskey	PROPN
cblr-1707	1366	9	,	,	PUNCT
cblr-1707	1366	10	fringe	fringe	NOUN
cblr-1707	1366	11	banking	banking	NOUN
cblr-1707	1366	12	:	:	PUNCT
cblr-1707	1366	13	check	check	NOUN
cblr-1707	1366	14	-	-	PUNCT
cblr-1707	1366	15	cashing	cash	VERB
cblr-1707	1366	16	outlets	outlet	NOUN
cblr-1707	1366	17	,	,	PUNCT
cblr-1707	1366	18	pawnshops	pawnshop	NOUN
cblr-1707	1366	19	,	,	PUNCT
cblr-1707	1366	20	and	and	CCONJ
cblr-1707	1366	21	the	the	DET
cblr-1707	1366	22	poor	poor	ADJ
cblr-1707	1366	23	87–88	87–88	NUM
cblr-1707	1366	24	(	(	PUNCT
cblr-1707	1366	25	1994	1994	NUM
cblr-1707	1366	26	)	)	PUNCT
cblr-1707	1366	27	;	;	PUNCT
cblr-1707	1366	28	glenn	glenn	PROPN
cblr-1707	1366	29	b.	b.	PROPN
cblr-1707	1366	30	canner	canner	PROPN
cblr-1707	1366	31	&	&	CCONJ
cblr-1707	1366	32	ellen	ellen	PROPN
cblr-1707	1366	33	maland	maland	PROPN
cblr-1707	1366	34	,	,	PUNCT
cblr-1707	1366	35	basic	basic	ADJ
cblr-1707	1366	36	banking	banking	NOUN
cblr-1707	1366	37	,	,	PUNCT
cblr-1707	1366	38	73	73	NUM
cblr-1707	1366	39	fed	fed	PROPN
cblr-1707	1366	40	.	.	PUNCT
cblr-1707	1367	1	res	re	NOUN
cblr-1707	1367	2	.	.	PUNCT
cblr-1707	1368	1	bull	bull	NOUN
cblr-1707	1368	2	.	.	PUNCT
cblr-1707	1369	1	255	255	NUM
cblr-1707	1369	2	,	,	PUNCT
cblr-1707	1369	3	255–56	255–56	NUM
cblr-1707	1369	4	(	(	PUNCT
cblr-1707	1369	5	1987	1987	NUM
cblr-1707	1369	6	)	)	PUNCT
cblr-1707	1369	7	.	.	PUNCT
cblr-1707	1370	1	245	245	NUM
cblr-1707	1370	2	see	see	VERB
cblr-1707	1370	3	edward	edward	PROPN
cblr-1707	1370	4	l.	l.	PROPN
cblr-1707	1370	5	rubin	rubin	PROPN
cblr-1707	1370	6	,	,	PUNCT
cblr-1707	1370	7	the	the	DET
cblr-1707	1370	8	lifeline	lifeline	NOUN
cblr-1707	1370	9	banking	banking	NOUN
cblr-1707	1370	10	controversy	controversy	NOUN
cblr-1707	1370	11	:	:	PUNCT
cblr-1707	1370	12	putting	put	VERB
cblr-1707	1370	13	deregulation	deregulation	NOUN
cblr-1707	1370	14	to	to	PART
cblr-1707	1370	15	work	work	VERB
cblr-1707	1370	16	for	for	ADP
cblr-1707	1370	17	the	the	DET
cblr-1707	1370	18	low	low	ADJ
cblr-1707	1370	19	-	-	PUNCT
cblr-1707	1370	20	income	income	NOUN
cblr-1707	1370	21	consumer	consumer	NOUN
cblr-1707	1370	22	,	,	PUNCT
cblr-1707	1370	23	67	67	NUM
cblr-1707	1370	24	ind	ind	NOUN
cblr-1707	1370	25	.	.	PUNCT
cblr-1707	1371	1	l.j	l.j	PROPN
cblr-1707	1371	2	.	.	PROPN
cblr-1707	1371	3	213	213	NUM
cblr-1707	1371	4	,	,	PUNCT
cblr-1707	1371	5	215	215	NUM
cblr-1707	1371	6	–	–	PUNCT
cblr-1707	1371	7	16	16	NUM
cblr-1707	1371	8	(	(	PUNCT
cblr-1707	1371	9	1992	1992	NUM
cblr-1707	1371	10	)	)	PUNCT
cblr-1707	1371	11	.	.	PUNCT
cblr-1707	1372	1	246	246	NUM
cblr-1707	1372	2	interagency	interagency	NOUN
cblr-1707	1372	3	policy	policy	NOUN
cblr-1707	1372	4	statement	statement	NOUN
cblr-1707	1372	5	on	on	ADP
cblr-1707	1372	6	basic	basic	ADJ
cblr-1707	1372	7	financial	financial	ADJ
cblr-1707	1372	8	services	service	NOUN
cblr-1707	1372	9	,	,	PUNCT
cblr-1707	1372	10	52	52	NUM
cblr-1707	1372	11	fed	feed	VERB
cblr-1707	1372	12	.	.	PUNCT
cblr-1707	1373	1	reg	reg	PROPN
cblr-1707	1373	2	.	.	PUNCT
cblr-1707	1374	1	7,024	7,024	NUM
cblr-1707	1374	2	,	,	PUNCT
cblr-1707	1374	3	7,024–25	7,024–25	PROPN
cblr-1707	1374	4	(	(	PUNCT
cblr-1707	1374	5	mar	mar	PROPN
cblr-1707	1374	6	.	.	PROPN
cblr-1707	1374	7	6	6	NUM
cblr-1707	1374	8	,	,	PUNCT
cblr-1707	1374	9	1987	1987	NUM
cblr-1707	1374	10	)	)	PUNCT
cblr-1707	1374	11	.	.	PUNCT
cblr-1707	1375	1	247	247	NUM
cblr-1707	1375	2	see	see	VERB
cblr-1707	1375	3	joseph	joseph	PROPN
cblr-1707	1375	4	j.	j.	PROPN
cblr-1707	1375	5	doyle	doyle	PROPN
cblr-1707	1375	6	,	,	PUNCT
cblr-1707	1375	7	jose	jose	PROPN
cblr-1707	1375	8	a.	a.	PROPN
cblr-1707	1375	9	lopez	lopez	PROPN
cblr-1707	1375	10	&	&	CCONJ
cblr-1707	1375	11	marc	marc	PROPN
cblr-1707	1375	12	r.	r.	PROPN
cblr-1707	1375	13	saidenberg	saidenberg	PROPN
cblr-1707	1375	14	,	,	PUNCT
cblr-1707	1375	15	how	how	SCONJ
cblr-1707	1375	16	effective	effective	ADJ
cblr-1707	1375	17	is	be	AUX
cblr-1707	1375	18	lifeline	lifeline	NOUN
cblr-1707	1375	19	banking	banking	NOUN
cblr-1707	1375	20	in	in	ADP
cblr-1707	1375	21	assisting	assist	VERB
cblr-1707	1375	22	the	the	DET
cblr-1707	1375	23	‘	'	PUNCT
cblr-1707	1375	24	unbanked	unbanked	ADJ
cblr-1707	1375	25	’	'	PUNCT
cblr-1707	1375	26	?	?	PUNCT
cblr-1707	1375	27	,	,	PUNCT
cblr-1707	1375	28	4	4	NUM
cblr-1707	1375	29	current	current	ADJ
cblr-1707	1375	30	issues	issue	NOUN
cblr-1707	1375	31	in	in	ADP
cblr-1707	1375	32	econ	econ	PROPN
cblr-1707	1375	33	.	.	PUNCT
cblr-1707	1375	34	&	&	CCONJ
cblr-1707	1375	35	fin	fin	PROPN
cblr-1707	1375	36	.	.	PROPN
cblr-1707	1376	1	1	1	NUM
cblr-1707	1376	2	,	,	PUNCT
cblr-1707	1376	3	3–5	3–5	NUM
cblr-1707	1376	4	(	(	PUNCT
cblr-1707	1376	5	1998	1998	NUM
cblr-1707	1376	6	)	)	PUNCT
cblr-1707	1376	7	.	.	PUNCT
cblr-1707	1377	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	1377	2	832	832	NUM
cblr-1707	1377	3	columbia	columbia	PROPN
cblr-1707	1377	4	business	business	NOUN
cblr-1707	1377	5	law	law	PROPN
cblr-1707	1377	6	review	review	NOUN
cblr-1707	1377	7	[	[	X
cblr-1707	1377	8	vol	vol	NOUN
cblr-1707	1377	9	.	.	NOUN
cblr-1707	1377	10	2018	2018	NUM
cblr-1707	1377	11	on	on	ADP
cblr-1707	1377	12	the	the	DET
cblr-1707	1377	13	number	number	NOUN
cblr-1707	1377	14	of	of	ADP
cblr-1707	1377	15	unbanked	unbanked	ADJ
cblr-1707	1377	16	households	household	NOUN
cblr-1707	1377	17	in	in	ADP
cblr-1707	1377	18	the	the	DET
cblr-1707	1377	19	relevant	relevant	ADJ
cblr-1707	1377	20	states.248	states.248	NUM
cblr-1707	1377	21	at	at	ADP
cblr-1707	1377	22	the	the	DET
cblr-1707	1377	23	federal	federal	ADJ
cblr-1707	1377	24	level	level	NOUN
cblr-1707	1377	25	,	,	PUNCT
cblr-1707	1377	26	congress	congress	PROPN
cblr-1707	1377	27	has	have	AUX
cblr-1707	1377	28	held	hold	VERB
cblr-1707	1377	29	hearings	hearing	NOUN
cblr-1707	1377	30	on	on	ADP
cblr-1707	1377	31	lifeline	lifeline	NOUN
cblr-1707	1377	32	accounts	account	NOUN
cblr-1707	1377	33	over	over	ADP
cblr-1707	1377	34	the	the	DET
cblr-1707	1377	35	years,249	years,249	NOUN
cblr-1707	1377	36	but	but	CCONJ
cblr-1707	1377	37	no	no	DET
cblr-1707	1377	38	legislation	legislation	NOUN
cblr-1707	1377	39	materialized	materialize	VERB
cblr-1707	1377	40	.	.	PUNCT
cblr-1707	1378	1	the	the	DET
cblr-1707	1378	2	federal	federal	PROPN
cblr-1707	1378	3	reserve	reserve	PROPN
cblr-1707	1378	4	opposed	oppose	VERB
cblr-1707	1378	5	federal	federal	ADJ
cblr-1707	1378	6	lifeline	lifeline	NOUN
cblr-1707	1378	7	banking	banking	NOUN
cblr-1707	1378	8	legislation	legislation	NOUN
cblr-1707	1378	9	in	in	ADP
cblr-1707	1378	10	1989	1989	NUM
cblr-1707	1378	11	on	on	ADP
cblr-1707	1378	12	the	the	DET
cblr-1707	1378	13	ground	ground	NOUN
cblr-1707	1378	14	that	that	SCONJ
cblr-1707	1378	15	“	"	PUNCT
cblr-1707	1378	16	voluntary	voluntary	ADJ
cblr-1707	1378	17	efforts	effort	NOUN
cblr-1707	1378	18	by	by	ADP
cblr-1707	1378	19	financial	financial	ADJ
cblr-1707	1378	20	institutions	institution	NOUN
cblr-1707	1378	21	will	will	AUX
cblr-1707	1378	22	continue	continue	VERB
cblr-1707	1378	23	to	to	PART
cblr-1707	1378	24	be	be	AUX
cblr-1707	1378	25	successful	successful	ADJ
cblr-1707	1378	26	in	in	ADP
cblr-1707	1378	27	meeting	meet	VERB
cblr-1707	1378	28	many	many	ADJ
cblr-1707	1378	29	of	of	ADP
cblr-1707	1378	30	the	the	DET
cblr-1707	1378	31	concerns	concern	NOUN
cblr-1707	1378	32	that	that	PRON
cblr-1707	1378	33	have	have	AUX
cblr-1707	1378	34	been	be	AUX
cblr-1707	1378	35	expressed	express	VERB
cblr-1707	1378	36	without	without	ADP
cblr-1707	1378	37	the	the	DET
cblr-1707	1378	38	burden	burden	NOUN
cblr-1707	1378	39	and	and	CCONJ
cblr-1707	1378	40	cost	cost	VERB
cblr-1707	1378	41	that	that	SCONJ
cblr-1707	1378	42	rules	rule	NOUN
cblr-1707	1378	43	and	and	CCONJ
cblr-1707	1378	44	regulations	regulation	NOUN
cblr-1707	1378	45	inevitably	inevitably	ADV
cblr-1707	1378	46	impose	impose	VERB
cblr-1707	1378	47	.	.	PUNCT
cblr-1707	1379	1	”250	”250	VERB
cblr-1707	1379	2	the	the	DET
cblr-1707	1379	3	u.s	u.s	PROPN
cblr-1707	1379	4	.	.	PROPN
cblr-1707	1379	5	treasury	treasury	PROPN
cblr-1707	1379	6	department	department	PROPN
cblr-1707	1379	7	achieved	achieve	VERB
cblr-1707	1379	8	limited	limited	ADJ
cblr-1707	1379	9	success	success	NOUN
cblr-1707	1379	10	through	through	ADP
cblr-1707	1379	11	its	its	PRON
cblr-1707	1379	12	electronic	electronic	ADJ
cblr-1707	1379	13	transfer	transfer	NOUN
cblr-1707	1379	14	accounts	account	NOUN
cblr-1707	1379	15	program	program	NOUN
cblr-1707	1379	16	,	,	PUNCT
cblr-1707	1379	17	whereby	whereby	SCONJ
cblr-1707	1379	18	it	it	PRON
cblr-1707	1379	19	compensates	compensate	VERB
cblr-1707	1379	20	federally	federally	ADV
cblr-1707	1379	21	insured	insure	VERB
cblr-1707	1379	22	banks	bank	NOUN
cblr-1707	1379	23	for	for	ADP
cblr-1707	1379	24	providing	provide	VERB
cblr-1707	1379	25	basic	basic	ADJ
cblr-1707	1379	26	bank	bank	NOUN
cblr-1707	1379	27	accounts	account	NOUN
cblr-1707	1379	28	to	to	ADP
cblr-1707	1379	29	beneficiaries	beneficiary	NOUN
cblr-1707	1379	30	of	of	ADP
cblr-1707	1379	31	government	government	NOUN
cblr-1707	1379	32	transfers.251	transfers.251	NOUN
cblr-1707	1379	33	however	however	ADV
cblr-1707	1379	34	,	,	PUNCT
cblr-1707	1379	35	because	because	SCONJ
cblr-1707	1379	36	this	this	DET
cblr-1707	1379	37	program	program	NOUN
cblr-1707	1379	38	supplies	supply	VERB
cblr-1707	1379	39	accounts	account	VERB
cblr-1707	1379	40	only	only	ADV
cblr-1707	1379	41	to	to	ADP
cblr-1707	1379	42	recipients	recipient	NOUN
cblr-1707	1379	43	of	of	ADP
cblr-1707	1379	44	federal	federal	ADJ
cblr-1707	1379	45	benefits	benefit	NOUN
cblr-1707	1379	46	,	,	PUNCT
cblr-1707	1379	47	its	its	PRON
cblr-1707	1379	48	reach	reach	NOUN
cblr-1707	1379	49	is	be	AUX
cblr-1707	1379	50	necessarily	necessarily	ADV
cblr-1707	1379	51	limited.252	limited.252	ADP
cblr-1707	1379	52	the	the	DET
cblr-1707	1379	53	treasury	treasury	PROPN
cblr-1707	1379	54	department	department	PROPN
cblr-1707	1379	55	has	have	AUX
cblr-1707	1379	56	piloted	pilot	VERB
cblr-1707	1379	57	another	another	DET
cblr-1707	1379	58	initiative	initiative	NOUN
cblr-1707	1379	59	,	,	PUNCT
cblr-1707	1379	60	the	the	DET
cblr-1707	1379	61	first	first	ADJ
cblr-1707	1379	62	accounts	account	NOUN
cblr-1707	1379	63	program	program	NOUN
cblr-1707	1379	64	,	,	PUNCT
cblr-1707	1379	65	to	to	PART
cblr-1707	1379	66	support	support	VERB
cblr-1707	1379	67	private	private	ADJ
cblr-1707	1379	68	organizations	organization	NOUN
cblr-1707	1379	69	that	that	PRON
cblr-1707	1379	70	seek	seek	VERB
cblr-1707	1379	71	to	to	PART
cblr-1707	1379	72	assist	assist	VERB
cblr-1707	1379	73	the	the	DET
cblr-1707	1379	74	unbanked	unbanked	NOUN
cblr-1707	1379	75	,	,	PUNCT
cblr-1707	1379	76	but	but	CCONJ
cblr-1707	1379	77	the	the	DET
cblr-1707	1379	78	program	program	NOUN
cblr-1707	1379	79	is	be	AUX
cblr-1707	1379	80	very	very	ADV
cblr-1707	1379	81	small.253	small.253	ADJ
cblr-1707	1379	82	in	in	ADP
cblr-1707	1379	83	2011	2011	NUM
cblr-1707	1379	84	,	,	PUNCT
cblr-1707	1379	85	the	the	DET
cblr-1707	1379	86	fdic	fdic	PROPN
cblr-1707	1379	87	launched	launch	VERB
cblr-1707	1379	88	a	a	DET
cblr-1707	1379	89	model	model	NOUN
cblr-1707	1379	90	safe	safe	ADJ
cblr-1707	1379	91	accounts	account	NOUN
cblr-1707	1379	92	pilot	pilot	NOUN
cblr-1707	1379	93	with	with	ADP
cblr-1707	1379	94	nine	nine	NUM
cblr-1707	1379	95	financial	financial	ADJ
cblr-1707	1379	96	institutions	institution	NOUN
cblr-1707	1379	97	to	to	PART
cblr-1707	1379	98	explore	explore	VERB
cblr-1707	1379	99	the	the	DET
cblr-1707	1379	100	feasibility	feasibility	NOUN
cblr-1707	1379	101	of	of	ADP
cblr-1707	1379	102	offering	offer	VERB
cblr-1707	1379	103	stripped	strip	VERB
cblr-1707	1379	104	-	-	PUNCT
cblr-1707	1379	105	down	down	ADP
cblr-1707	1379	106	transaction	transaction	NOUN
cblr-1707	1379	107	accounts	account	VERB
cblr-1707	1379	108	248	248	NUM
cblr-1707	1379	109	see	see	VERB
cblr-1707	1379	110	washington	washington	PROPN
cblr-1707	1379	111	,	,	PUNCT
cblr-1707	1379	112	supra	supra	PROPN
cblr-1707	1379	113	note	note	PROPN
cblr-1707	1379	114	243	243	NUM
cblr-1707	1379	115	,	,	PUNCT
cblr-1707	1379	116	at	at	ADP
cblr-1707	1379	117	108	108	NUM
cblr-1707	1379	118	.	.	PUNCT
cblr-1707	1380	1	249	249	NUM
cblr-1707	1380	2	see	see	VERB
cblr-1707	1380	3	ways	way	NOUN
cblr-1707	1380	4	of	of	ADP
cblr-1707	1380	5	increasing	increase	VERB
cblr-1707	1380	6	access	access	NOUN
cblr-1707	1380	7	of	of	ADP
cblr-1707	1380	8	lowand	lowand	ADJ
cblr-1707	1380	9	moderate	moderate	ADJ
cblr-1707	1380	10	-	-	PUNCT
cblr-1707	1380	11	income	income	NOUN
cblr-1707	1380	12	americans	americans	PROPN
cblr-1707	1380	13	to	to	ADP
cblr-1707	1380	14	financial	financial	ADJ
cblr-1707	1380	15	services	service	NOUN
cblr-1707	1380	16	:	:	PUNCT
cblr-1707	1380	17	hearing	hear	VERB
cblr-1707	1380	18	before	before	ADP
cblr-1707	1380	19	the	the	DET
cblr-1707	1380	20	subcomm	subcomm	NOUN
cblr-1707	1380	21	.	.	PUNCT
cblr-1707	1381	1	on	on	ADP
cblr-1707	1381	2	fin	fin	NOUN
cblr-1707	1381	3	.	.	PUNCT
cblr-1707	1382	1	insts	inst	NOUN
cblr-1707	1382	2	.	.	PUNCT
cblr-1707	1383	1	supervision	supervision	NOUN
cblr-1707	1383	2	,	,	PUNCT
cblr-1707	1383	3	regulation	regulation	NOUN
cblr-1707	1383	4	&	&	CCONJ
cblr-1707	1383	5	deposit	deposit	NOUN
cblr-1707	1383	6	ins	in	NOUN
cblr-1707	1383	7	.	.	PUNCT
cblr-1707	1384	1	and	and	CCONJ
cblr-1707	1384	2	the	the	DET
cblr-1707	1384	3	subcomm	subcomm	NOUN
cblr-1707	1384	4	.	.	PUNCT
cblr-1707	1385	1	on	on	ADP
cblr-1707	1385	2	consumer	consumer	NOUN
cblr-1707	1385	3	credit	credit	NOUN
cblr-1707	1385	4	&	&	CCONJ
cblr-1707	1385	5	ins	ins	PROPN
cblr-1707	1385	6	.	.	PROPN
cblr-1707	1386	1	of	of	ADP
cblr-1707	1386	2	the	the	DET
cblr-1707	1386	3	h.	h.	PROPN
cblr-1707	1386	4	comm	comm	NOUN
cblr-1707	1386	5	.	.	PUNCT
cblr-1707	1387	1	on	on	ADP
cblr-1707	1387	2	banking	banking	NOUN
cblr-1707	1387	3	,	,	PUNCT
cblr-1707	1387	4	fin	fin	PROPN
cblr-1707	1387	5	.	.	PROPN
cblr-1707	1387	6	&	&	CCONJ
cblr-1707	1387	7	urban	urban	PROPN
cblr-1707	1387	8	affairs	affairs	PROPN
cblr-1707	1387	9	,	,	PUNCT
cblr-1707	1387	10	103d	103d	NUM
cblr-1707	1387	11	cong	cong	NOUN
cblr-1707	1387	12	.	.	PUNCT
cblr-1707	1388	1	1–3	1–3	NUM
cblr-1707	1388	2	(	(	PUNCT
cblr-1707	1388	3	1994	1994	NUM
cblr-1707	1388	4	)	)	PUNCT
cblr-1707	1388	5	;	;	PUNCT
cblr-1707	1388	6	government	government	NOUN
cblr-1707	1388	7	check	check	NOUN
cblr-1707	1388	8	cashing	cash	VERB
cblr-1707	1388	9	,	,	PUNCT
cblr-1707	1388	10	“	"	PUNCT
cblr-1707	1388	11	lifeline	lifeline	NOUN
cblr-1707	1388	12	”	"	PUNCT
cblr-1707	1388	13	checking	checking	NOUN
cblr-1707	1388	14	,	,	PUNCT
cblr-1707	1388	15	and	and	CCONJ
cblr-1707	1388	16	the	the	DET
cblr-1707	1388	17	community	community	NOUN
cblr-1707	1388	18	reinvestment	reinvestment	NOUN
cblr-1707	1388	19	act	act	NOUN
cblr-1707	1388	20	:	:	PUNCT
cblr-1707	1388	21	hearings	hearing	NOUN
cblr-1707	1388	22	on	on	ADP
cblr-1707	1388	23	s.	s.	PROPN
cblr-1707	1388	24	906	906	NUM
cblr-1707	1388	25	,	,	PUNCT
cblr-1707	1388	26	s.	s.	PROPN
cblr-1707	1388	27	907	907	NUM
cblr-1707	1388	28	,	,	PUNCT
cblr-1707	1388	29	and	and	CCONJ
cblr-1707	1388	30	s.	s.	PROPN
cblr-1707	1388	31	909	909	NUM
cblr-1707	1388	32	before	before	ADP
cblr-1707	1388	33	the	the	DET
cblr-1707	1388	34	subcomm	subcomm	NOUN
cblr-1707	1388	35	.	.	PUNCT
cblr-1707	1389	1	on	on	ADP
cblr-1707	1389	2	consumer	consumer	NOUN
cblr-1707	1389	3	&	&	CCONJ
cblr-1707	1389	4	regulatory	regulatory	ADJ
cblr-1707	1389	5	affairs	affair	NOUN
cblr-1707	1389	6	of	of	ADP
cblr-1707	1389	7	the	the	DET
cblr-1707	1389	8	s.	s.	PROPN
cblr-1707	1389	9	comm	comm	NOUN
cblr-1707	1389	10	.	.	PUNCT
cblr-1707	1390	1	on	on	ADP
cblr-1707	1390	2	banking	banking	NOUN
cblr-1707	1390	3	,	,	PUNCT
cblr-1707	1390	4	hous	hous	ADJ
cblr-1707	1390	5	.	.	PUNCT
cblr-1707	1390	6	,	,	PUNCT
cblr-1707	1390	7	&	&	CCONJ
cblr-1707	1390	8	urban	urban	PROPN
cblr-1707	1390	9	affairs	affairs	PROPN
cblr-1707	1390	10	,	,	PUNCT
cblr-1707	1390	11	101st	101st	PROPN
cblr-1707	1390	12	cong	cong	NOUN
cblr-1707	1390	13	.	.	PUNCT
cblr-1707	1391	1	1	1	NUM
cblr-1707	1391	2	(	(	PUNCT
cblr-1707	1391	3	1989	1989	NUM
cblr-1707	1391	4	)	)	PUNCT
cblr-1707	1391	5	.	.	PUNCT
cblr-1707	1392	1	250	250	NUM
cblr-1707	1392	2	martha	martha	PROPN
cblr-1707	1392	3	r.	r.	PROPN
cblr-1707	1392	4	seger	seger	PROPN
cblr-1707	1392	5	,	,	PUNCT
cblr-1707	1392	6	statement	statement	NOUN
cblr-1707	1392	7	by	by	ADP
cblr-1707	1392	8	martha	martha	PROPN
cblr-1707	1392	9	r.	r.	PROPN
cblr-1707	1392	10	seger	seger	PROPN
cblr-1707	1392	11	,	,	PUNCT
cblr-1707	1392	12	member	member	NOUN
cblr-1707	1392	13	,	,	PUNCT
cblr-1707	1392	14	board	board	NOUN
cblr-1707	1392	15	of	of	ADP
cblr-1707	1392	16	governors	governor	NOUN
cblr-1707	1392	17	of	of	ADP
cblr-1707	1392	18	the	the	DET
cblr-1707	1392	19	federal	federal	PROPN
cblr-1707	1392	20	reserve	reserve	PROPN
cblr-1707	1392	21	system	system	NOUN
cblr-1707	1392	22	,	,	PUNCT
cblr-1707	1392	23	before	before	ADP
cblr-1707	1392	24	the	the	DET
cblr-1707	1392	25	subcommittee	subcommittee	NOUN
cblr-1707	1392	26	on	on	ADP
cblr-1707	1392	27	consumer	consumer	NOUN
cblr-1707	1392	28	and	and	CCONJ
cblr-1707	1392	29	regulatory	regulatory	ADJ
cblr-1707	1392	30	affairs	affair	NOUN
cblr-1707	1392	31	of	of	ADP
cblr-1707	1392	32	the	the	DET
cblr-1707	1392	33	committee	committee	NOUN
cblr-1707	1392	34	on	on	ADP
cblr-1707	1392	35	banking	banking	NOUN
cblr-1707	1392	36	,	,	PUNCT
cblr-1707	1392	37	housing	housing	NOUN
cblr-1707	1392	38	,	,	PUNCT
cblr-1707	1392	39	and	and	CCONJ
cblr-1707	1392	40	urban	urban	PROPN
cblr-1707	1392	41	affairs	affairs	PROPN
cblr-1707	1392	42	,	,	PUNCT
cblr-1707	1392	43	u.s	u.s	PROPN
cblr-1707	1392	44	.	.	PROPN
cblr-1707	1392	45	senate	senate	PROPN
cblr-1707	1392	46	,	,	PUNCT
cblr-1707	1392	47	june	june	PROPN
cblr-1707	1392	48	7	7	NUM
cblr-1707	1392	49	,	,	PUNCT
cblr-1707	1392	50	1989	1989	NUM
cblr-1707	1392	51	,	,	PUNCT
cblr-1707	1392	52	75	75	NUM
cblr-1707	1392	53	fed	feed	VERB
cblr-1707	1392	54	.	.	PUNCT
cblr-1707	1393	1	res	re	NOUN
cblr-1707	1393	2	.	.	PUNCT
cblr-1707	1394	1	bull	bull	NOUN
cblr-1707	1394	2	.	.	PUNCT
cblr-1707	1395	1	550	550	NUM
cblr-1707	1395	2	,	,	PUNCT
cblr-1707	1395	3	557	557	NUM
cblr-1707	1395	4	(	(	PUNCT
cblr-1707	1395	5	1989	1989	NUM
cblr-1707	1395	6	)	)	PUNCT
cblr-1707	1395	7	.	.	PUNCT
cblr-1707	1396	1	251	251	NUM
cblr-1707	1396	2	see	see	VERB
cblr-1707	1396	3	electronic	electronic	ADJ
cblr-1707	1396	4	transfer	transfer	NOUN
cblr-1707	1396	5	account	account	NOUN
cblr-1707	1396	6	,	,	PUNCT
cblr-1707	1396	7	64	64	NUM
cblr-1707	1396	8	fed	feed	VERB
cblr-1707	1396	9	.	.	PUNCT
cblr-1707	1397	1	reg	reg	PROPN
cblr-1707	1397	2	.	.	PROPN
cblr-1707	1398	1	38,510	38,510	NUM
cblr-1707	1398	2	,	,	PUNCT
cblr-1707	1398	3	38,510	38,510	NUM
cblr-1707	1398	4	(	(	PUNCT
cblr-1707	1398	5	july	july	PROPN
cblr-1707	1398	6	16	16	NUM
cblr-1707	1398	7	,	,	PUNCT
cblr-1707	1398	8	1999	1999	NUM
cblr-1707	1398	9	)	)	PUNCT
cblr-1707	1398	10	.	.	PUNCT
cblr-1707	1399	1	252	252	NUM
cblr-1707	1399	2	see	see	VERB
cblr-1707	1399	3	pérez	pérez	NOUN
cblr-1707	1399	4	,	,	PUNCT
cblr-1707	1399	5	supra	supra	PROPN
cblr-1707	1399	6	note	note	NOUN
cblr-1707	1399	7	239	239	NUM
cblr-1707	1399	8	,	,	PUNCT
cblr-1707	1399	9	at	at	ADP
cblr-1707	1399	10	1601	1601	NUM
cblr-1707	1399	11	.	.	PUNCT
cblr-1707	1400	1	253	253	NUM
cblr-1707	1400	2	see	see	VERB
cblr-1707	1400	3	i	i	PRON
cblr-1707	1400	4	d.	d.	PROPN
cblr-1707	1400	5	at	at	ADP
cblr-1707	1400	6	1601–02	1601–02	NUM
cblr-1707	1400	7	.	.	PUNCT
cblr-1707	1401	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	1401	2	no	no	NOUN
cblr-1707	1401	3	.	.	PUNCT
cblr-1707	1402	1	3:757	3:757	NUM
cblr-1707	1402	2	]	]	X
cblr-1707	1402	3	money	money	NOUN
cblr-1707	1402	4	as	as	ADP
cblr-1707	1402	5	infrastructure	infrastructure	NOUN
cblr-1707	1402	6	833	833	NUM
cblr-1707	1402	7	to	to	PART
cblr-1707	1402	8	meet	meet	VERB
cblr-1707	1402	9	the	the	DET
cblr-1707	1402	10	needs	need	NOUN
cblr-1707	1402	11	of	of	ADP
cblr-1707	1402	12	underserved	underserved	ADJ
cblr-1707	1402	13	consumers	consumer	NOUN
cblr-1707	1402	14	,	,	PUNCT
cblr-1707	1402	15	including	include	VERB
cblr-1707	1402	16	the	the	DET
cblr-1707	1402	17	unbanked.254	unbanked.254	ADJ
cblr-1707	1402	18	while	while	SCONJ
cblr-1707	1402	19	the	the	DET
cblr-1707	1402	20	pilot	pilot	NOUN
cblr-1707	1402	21	was	be	AUX
cblr-1707	1402	22	successful	successful	ADJ
cblr-1707	1402	23	,	,	PUNCT
cblr-1707	1402	24	it	it	PRON
cblr-1707	1402	25	did	do	AUX
cblr-1707	1402	26	not	not	PART
cblr-1707	1402	27	lead	lead	VERB
cblr-1707	1402	28	to	to	ADP
cblr-1707	1402	29	any	any	DET
cblr-1707	1402	30	substantial	substantial	ADJ
cblr-1707	1402	31	permanent	permanent	ADJ
cblr-1707	1402	32	initiative	initiative	NOUN
cblr-1707	1402	33	.	.	PUNCT
cblr-1707	1403	1	opposition	opposition	NOUN
cblr-1707	1403	2	to	to	ADP
cblr-1707	1403	3	direct	direct	VERB
cblr-1707	1403	4	legislative	legislative	ADJ
cblr-1707	1403	5	or	or	CCONJ
cblr-1707	1403	6	regulatory	regulatory	ADJ
cblr-1707	1403	7	mandates	mandate	NOUN
cblr-1707	1403	8	for	for	SCONJ
cblr-1707	1403	9	banks	bank	NOUN
cblr-1707	1403	10	to	to	PART
cblr-1707	1403	11	supply	supply	VERB
cblr-1707	1403	12	transaction	transaction	NOUN
cblr-1707	1403	13	accounts	account	NOUN
cblr-1707	1403	14	to	to	ADP
cblr-1707	1403	15	underserved	underserved	ADJ
cblr-1707	1403	16	populations	population	NOUN
cblr-1707	1403	17	has	have	AUX
cblr-1707	1403	18	usually	usually	ADV
cblr-1707	1403	19	proceeded	proceed	VERB
cblr-1707	1403	20	from	from	ADP
cblr-1707	1403	21	the	the	DET
cblr-1707	1403	22	supposition	supposition	NOUN
cblr-1707	1403	23	that	that	SCONJ
cblr-1707	1403	24	such	such	ADJ
cblr-1707	1403	25	requirements	requirement	NOUN
cblr-1707	1403	26	inefficiently	inefficiently	ADV
cblr-1707	1403	27	“	"	PUNCT
cblr-1707	1403	28	tax	tax	NOUN
cblr-1707	1403	29	”	"	PUNCT
cblr-1707	1403	30	banks	bank	NOUN
cblr-1707	1403	31	or	or	CCONJ
cblr-1707	1403	32	otherwise	otherwise	ADV
cblr-1707	1403	33	impose	impose	VERB
cblr-1707	1403	34	unwarranted	unwarranted	ADJ
cblr-1707	1403	35	“	"	PUNCT
cblr-1707	1403	36	social	social	ADJ
cblr-1707	1403	37	”	"	PUNCT
cblr-1707	1403	38	obligations	obligation	NOUN
cblr-1707	1403	39	on	on	ADP
cblr-1707	1403	40	private	private	ADJ
cblr-1707	1403	41	enterprise.255	enterprise.255	ADJ
cblr-1707	1403	42	scholarly	scholarly	ADJ
cblr-1707	1403	43	treatments	treatment	NOUN
cblr-1707	1403	44	tend	tend	VERB
cblr-1707	1403	45	to	to	PART
cblr-1707	1403	46	eschew	eschew	VERB
cblr-1707	1403	47	direct	direct	ADJ
cblr-1707	1403	48	mandates	mandate	NOUN
cblr-1707	1403	49	in	in	ADP
cblr-1707	1403	50	favor	favor	NOUN
cblr-1707	1403	51	of	of	ADP
cblr-1707	1403	52	other	other	ADJ
cblr-1707	1403	53	strategies	strategy	NOUN
cblr-1707	1403	54	,	,	PUNCT
cblr-1707	1403	55	such	such	ADJ
cblr-1707	1403	56	as	as	ADP
cblr-1707	1403	57	further	further	ADJ
cblr-1707	1403	58	deregulation	deregulation	NOUN
cblr-1707	1403	59	(	(	PUNCT
cblr-1707	1403	60	with	with	ADP
cblr-1707	1403	61	the	the	DET
cblr-1707	1403	62	aspiration	aspiration	NOUN
cblr-1707	1403	63	of	of	ADP
cblr-1707	1403	64	reducing	reduce	VERB
cblr-1707	1403	65	costs	cost	NOUN
cblr-1707	1403	66	and	and	CCONJ
cblr-1707	1403	67	spurring	spur	VERB
cblr-1707	1403	68	access	access	NOUN
cblr-1707	1403	69	to	to	ADP
cblr-1707	1403	70	accounts),256	accounts),256	PROPN
cblr-1707	1403	71	tax	tax	NOUN
cblr-1707	1403	72	incentives	incentive	NOUN
cblr-1707	1403	73	to	to	ADP
cblr-1707	1403	74	banks	bank	NOUN
cblr-1707	1403	75	for	for	ADP
cblr-1707	1403	76	providing	provide	VERB
cblr-1707	1403	77	basic	basic	ADJ
cblr-1707	1403	78	accounts	account	NOUN
cblr-1707	1403	79	to	to	ADP
cblr-1707	1403	80	underserved	underserved	ADJ
cblr-1707	1403	81	groups,257	groups,257	NOUN
cblr-1707	1403	82	or	or	CCONJ
cblr-1707	1403	83	direct	direct	ADJ
cblr-1707	1403	84	government	government	NOUN
cblr-1707	1403	85	provisioning.258	provisioning.258	NOUN
cblr-1707	1403	86	in	in	ADP
cblr-1707	1403	87	the	the	DET
cblr-1707	1403	88	next	next	ADJ
cblr-1707	1403	89	section	section	NOUN
cblr-1707	1403	90	,	,	PUNCT
cblr-1707	1403	91	this	this	DET
cblr-1707	1403	92	article	article	NOUN
cblr-1707	1403	93	will	will	AUX
cblr-1707	1403	94	outline	outline	VERB
cblr-1707	1403	95	a	a	DET
cblr-1707	1403	96	more	more	ADV
cblr-1707	1403	97	promising	promising	ADJ
cblr-1707	1403	98	regulatory	regulatory	ADJ
cblr-1707	1403	99	model	model	NOUN
cblr-1707	1403	100	for	for	ADP
cblr-1707	1403	101	addressing	address	VERB
cblr-1707	1403	102	the	the	DET
cblr-1707	1403	103	needs	need	NOUN
cblr-1707	1403	104	of	of	ADP
cblr-1707	1403	105	the	the	DET
cblr-1707	1403	106	unand	unand	NOUN
cblr-1707	1403	107	underbanked	underbanked	ADJ
cblr-1707	1403	108	.	.	PUNCT
cblr-1707	1404	1	before	before	ADP
cblr-1707	1404	2	proceeding	proceed	VERB
cblr-1707	1404	3	to	to	ADP
cblr-1707	1404	4	the	the	DET
cblr-1707	1404	5	regulatory	regulatory	ADJ
cblr-1707	1404	6	analysis	analysis	NOUN
cblr-1707	1404	7	,	,	PUNCT
cblr-1707	1404	8	though	though	ADV
cblr-1707	1404	9	,	,	PUNCT
cblr-1707	1404	10	it	it	PRON
cblr-1707	1404	11	is	be	AUX
cblr-1707	1404	12	useful	useful	ADJ
cblr-1707	1404	13	to	to	PART
cblr-1707	1404	14	ask	ask	VERB
cblr-1707	1404	15	whether	whether	SCONJ
cblr-1707	1404	16	the	the	DET
cblr-1707	1404	17	marketplace	marketplace	NOUN
cblr-1707	1404	18	might	might	AUX
cblr-1707	1404	19	supply	supply	VERB
cblr-1707	1404	20	solutions	solution	NOUN
cblr-1707	1404	21	on	on	ADP
cblr-1707	1404	22	its	its	PRON
cblr-1707	1404	23	own	own	ADJ
cblr-1707	1404	24	.	.	PUNCT
cblr-1707	1405	1	b.	b.	PROPN
cblr-1707	1405	2	bypassing	bypassing	PROPN
cblr-1707	1405	3	bank	bank	NOUN
cblr-1707	1405	4	-	-	PUNCT
cblr-1707	1405	5	based	base	VERB
cblr-1707	1405	6	payments	payment	NOUN
cblr-1707	1405	7	?	?	PUNCT
cblr-1707	1406	1	do	do	AUX
cblr-1707	1406	2	banks	bank	NOUN
cblr-1707	1406	3	need	need	VERB
cblr-1707	1406	4	to	to	PART
cblr-1707	1406	5	be	be	AUX
cblr-1707	1406	6	involved	involve	VERB
cblr-1707	1406	7	in	in	ADP
cblr-1707	1406	8	payments	payment	NOUN
cblr-1707	1406	9	at	at	ADV
cblr-1707	1406	10	all	all	ADV
cblr-1707	1406	11	?	?	PUNCT
cblr-1707	1407	1	could	could	AUX
cblr-1707	1407	2	nonbanks	nonbank	NOUN
cblr-1707	1407	3	offer	offer	VERB
cblr-1707	1407	4	cheaper	cheap	ADJ
cblr-1707	1407	5	,	,	PUNCT
cblr-1707	1407	6	more	more	ADV
cblr-1707	1407	7	efficient	efficient	ADJ
cblr-1707	1407	8	payment	payment	NOUN
cblr-1707	1407	9	solutions	solution	NOUN
cblr-1707	1407	10	to	to	ADP
cblr-1707	1407	11	underserved	underserved	ADJ
cblr-1707	1407	12	populations	population	NOUN
cblr-1707	1407	13	?	?	PUNCT
cblr-1707	1408	1	might	might	AUX
cblr-1707	1408	2	the	the	DET
cblr-1707	1408	3	steady	steady	ADJ
cblr-1707	1408	4	march	march	NOUN
cblr-1707	1408	5	of	of	ADP
cblr-1707	1408	6	technology	technology	NOUN
cblr-1707	1408	7	solve	solve	VERB
cblr-1707	1408	8	these	these	DET
cblr-1707	1408	9	problems	problem	NOUN
cblr-1707	1408	10	?	?	PUNCT
cblr-1707	1409	1	it	it	PRON
cblr-1707	1409	2	is	be	AUX
cblr-1707	1409	3	tempting	tempting	ADJ
cblr-1707	1409	4	to	to	PART
cblr-1707	1409	5	respond	respond	VERB
cblr-1707	1409	6	that	that	SCONJ
cblr-1707	1409	7	the	the	DET
cblr-1707	1409	8	plight	plight	NOUN
cblr-1707	1409	9	of	of	ADP
cblr-1707	1409	10	the	the	DET
cblr-1707	1409	11	unbanked	unbanked	PROPN
cblr-1707	1409	12	has	have	AUX
cblr-1707	1409	13	been	be	AUX
cblr-1707	1409	14	on	on	ADP
cblr-1707	1409	15	the	the	DET
cblr-1707	1409	16	policy	policy	NOUN
cblr-1707	1409	17	radar	radar	NOUN
cblr-1707	1409	18	for	for	ADP
cblr-1707	1409	19	over	over	ADP
cblr-1707	1409	20	three	three	NUM
cblr-1707	1409	21	decades	decade	NOUN
cblr-1707	1409	22	and	and	CCONJ
cblr-1707	1409	23	the	the	DET
cblr-1707	1409	24	market	market	NOUN
cblr-1707	1409	25	has	have	AUX
cblr-1707	1409	26	not	not	PART
cblr-1707	1409	27	yet	yet	ADV
cblr-1707	1409	28	furnished	furnish	VERB
cblr-1707	1409	29	a	a	DET
cblr-1707	1409	30	solution	solution	NOUN
cblr-1707	1409	31	.	.	PUNCT
cblr-1707	1410	1	in	in	ADP
cblr-1707	1410	2	fairness	fairness	NOUN
cblr-1707	1410	3	,	,	PUNCT
cblr-1707	1410	4	enthusiasts	enthusiast	NOUN
cblr-1707	1410	5	for	for	ADP
cblr-1707	1410	6	market	market	NOUN
cblr-1707	1410	7	solutions	solution	NOUN
cblr-1707	1410	8	may	may	AUX
cblr-1707	1410	9	respond	respond	VERB
cblr-1707	1410	10	that	that	DET
cblr-1707	1410	11	regulatory	regulatory	ADJ
cblr-1707	1410	12	impediments	impediment	NOUN
cblr-1707	1410	13	are	be	AUX
cblr-1707	1410	14	to	to	PART
cblr-1707	1410	15	blame	blame	VERB
cblr-1707	1410	16	.	.	PUNCT
cblr-1707	1411	1	but	but	CCONJ
cblr-1707	1411	2	this	this	PRON
cblr-1707	1411	3	seems	seem	VERB
cblr-1707	1411	4	doubtful	doubtful	ADJ
cblr-1707	1411	5	.	.	PUNCT
cblr-1707	1412	1	part	part	NOUN
cblr-1707	1413	1	iii.a	iii.a	PROPN
cblr-1707	1413	2	reviewed	review	VERB
cblr-1707	1413	3	the	the	DET
cblr-1707	1413	4	porous	porous	ADJ
cblr-1707	1413	5	,	,	PUNCT
cblr-1707	1413	6	ineffective	ineffective	ADJ
cblr-1707	1413	7	nature	nature	NOUN
cblr-1707	1413	8	of	of	ADP
cblr-1707	1413	9	u.s	u.s	PROPN
cblr-1707	1413	10	.	.	PROPN
cblr-1707	1413	11	legal	legal	ADJ
cblr-1707	1413	12	254	254	NUM
cblr-1707	1413	13	fed	feed	VERB
cblr-1707	1413	14	.	.	PUNCT
cblr-1707	1414	1	deposit	deposit	NOUN
cblr-1707	1414	2	ins	ins	PROPN
cblr-1707	1414	3	.	.	PUNCT
cblr-1707	1414	4	corp	corp	PROPN
cblr-1707	1414	5	.	.	PROPN
cblr-1707	1414	6	,	,	PUNCT
cblr-1707	1414	7	fdic	fdic	PROPN
cblr-1707	1414	8	model	model	VERB
cblr-1707	1414	9	safe	safe	ADJ
cblr-1707	1414	10	accounts	account	NOUN
cblr-1707	1414	11	pilot	pilot	NOUN
cblr-1707	1414	12	:	:	PUNCT
cblr-1707	1414	13	final	final	ADJ
cblr-1707	1414	14	report	report	NOUN
cblr-1707	1414	15	1	1	NUM
cblr-1707	1414	16	(	(	PUNCT
cblr-1707	1414	17	apr	apr	PROPN
cblr-1707	1414	18	.	.	PROPN
cblr-1707	1414	19	2012	2012	NUM
cblr-1707	1414	20	)	)	PUNCT
cblr-1707	1414	21	.	.	PUNCT
cblr-1707	1415	1	255	255	NUM
cblr-1707	1415	2	see	see	VERB
cblr-1707	1415	3	,	,	PUNCT
cblr-1707	1415	4	e.g.	e.g.	ADV
cblr-1707	1415	5	,	,	PUNCT
cblr-1707	1415	6	rubin	rubin	PROPN
cblr-1707	1415	7	,	,	PUNCT
cblr-1707	1415	8	supra	supra	PROPN
cblr-1707	1415	9	note	note	PROPN
cblr-1707	1415	10	245	245	NUM
cblr-1707	1415	11	,	,	PUNCT
cblr-1707	1415	12	at	at	ADP
cblr-1707	1415	13	224–26	224–26	NUM
cblr-1707	1415	14	.	.	PUNCT
cblr-1707	1416	1	256	256	NUM
cblr-1707	1416	2	see	see	VERB
cblr-1707	1416	3	i	i	PRON
cblr-1707	1416	4	d.	d.	PROPN
cblr-1707	1416	5	at	at	ADP
cblr-1707	1416	6	240–48	240–48	PROPN
cblr-1707	1416	7	.	.	PUNCT
cblr-1707	1417	1	257	257	NUM
cblr-1707	1417	2	see	see	VERB
cblr-1707	1417	3	michael	michael	PROPN
cblr-1707	1417	4	s.	s.	PROPN
cblr-1707	1417	5	barr	barr	PROPN
cblr-1707	1417	6	,	,	PUNCT
cblr-1707	1417	7	banking	bank	VERB
cblr-1707	1417	8	the	the	DET
cblr-1707	1417	9	poor	poor	ADJ
cblr-1707	1417	10	,	,	PUNCT
cblr-1707	1417	11	21	21	NUM
cblr-1707	1417	12	yale	yale	PROPN
cblr-1707	1417	13	j.	j.	PROPN
cblr-1707	1417	14	on	on	ADP
cblr-1707	1417	15	reg	reg	PROPN
cblr-1707	1417	16	.	.	PROPN
cblr-1707	1418	1	121	121	NUM
cblr-1707	1418	2	,	,	PUNCT
cblr-1707	1418	3	222	222	NUM
cblr-1707	1418	4	–	–	PUNCT
cblr-1707	1418	5	33	33	NUM
cblr-1707	1418	6	(	(	PUNCT
cblr-1707	1418	7	2004	2004	NUM
cblr-1707	1418	8	)	)	PUNCT
cblr-1707	1418	9	.	.	PUNCT
cblr-1707	1419	1	258	258	NUM
cblr-1707	1419	2	see	see	VERB
cblr-1707	1419	3	mehrsa	mehrsa	NOUN
cblr-1707	1419	4	baradaran	baradaran	PROPN
cblr-1707	1419	5	,	,	PUNCT
cblr-1707	1419	6	how	how	SCONJ
cblr-1707	1419	7	the	the	DET
cblr-1707	1419	8	other	other	ADJ
cblr-1707	1419	9	half	half	ADJ
cblr-1707	1419	10	banks	bank	NOUN
cblr-1707	1419	11	:	:	PUNCT
cblr-1707	1419	12	exclusion	exclusion	NOUN
cblr-1707	1419	13	,	,	PUNCT
cblr-1707	1419	14	exploitation	exploitation	NOUN
cblr-1707	1419	15	,	,	PUNCT
cblr-1707	1419	16	and	and	CCONJ
cblr-1707	1419	17	the	the	DET
cblr-1707	1419	18	threat	threat	NOUN
cblr-1707	1419	19	to	to	ADP
cblr-1707	1419	20	democracy	democracy	NOUN
cblr-1707	1419	21	210–25	210–25	NUM
cblr-1707	1419	22	(	(	PUNCT
cblr-1707	1419	23	2015	2015	NUM
cblr-1707	1419	24	)	)	PUNCT
cblr-1707	1419	25	.	.	PUNCT
cblr-1707	1420	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	1420	2	834	834	NUM
cblr-1707	1420	3	columbia	columbia	PROPN
cblr-1707	1420	4	business	business	NOUN
cblr-1707	1420	5	law	law	PROPN
cblr-1707	1420	6	review	review	NOUN
cblr-1707	1420	7	[	[	X
cblr-1707	1420	8	vol	vol	NOUN
cblr-1707	1420	9	.	.	PUNCT
cblr-1707	1420	10	2018	2018	NUM
cblr-1707	1420	11	constraints	constraint	NOUN
cblr-1707	1420	12	on	on	ADP
cblr-1707	1420	13	entering	enter	VERB
cblr-1707	1420	14	the	the	DET
cblr-1707	1420	15	money	money	NOUN
cblr-1707	1420	16	creation	creation	NOUN
cblr-1707	1420	17	business	business	NOUN
cblr-1707	1420	18	.	.	PUNCT
cblr-1707	1421	1	i	i	PRON
cblr-1707	1421	2	have	have	AUX
cblr-1707	1421	3	argued	argue	VERB
cblr-1707	1421	4	in	in	ADP
cblr-1707	1421	5	the	the	DET
cblr-1707	1421	6	past	past	NOUN
cblr-1707	1421	7	that	that	SCONJ
cblr-1707	1421	8	it	it	PRON
cblr-1707	1421	9	is	be	AUX
cblr-1707	1421	10	vital	vital	ADJ
cblr-1707	1421	11	to	to	PART
cblr-1707	1421	12	shore	shore	VERB
cblr-1707	1421	13	up	up	ADP
cblr-1707	1421	14	these	these	DET
cblr-1707	1421	15	restrictions	restriction	NOUN
cblr-1707	1421	16	—	—	PUNCT
cblr-1707	1421	17	for	for	ADP
cblr-1707	1421	18	reasons	reason	NOUN
cblr-1707	1421	19	having	have	VERB
cblr-1707	1421	20	to	to	PART
cblr-1707	1421	21	do	do	VERB
cblr-1707	1421	22	with	with	ADP
cblr-1707	1421	23	financial	financial	ADJ
cblr-1707	1421	24	instability	instability	NOUN
cblr-1707	1421	25	,	,	PUNCT
cblr-1707	1421	26	monetary	monetary	ADJ
cblr-1707	1421	27	control	control	NOUN
cblr-1707	1421	28	,	,	PUNCT
cblr-1707	1421	29	and	and	CCONJ
cblr-1707	1421	30	private	private	ADJ
cblr-1707	1421	31	capture	capture	NOUN
cblr-1707	1421	32	of	of	ADP
cblr-1707	1421	33	seigniorage259	seigniorage259	PROPN
cblr-1707	1421	34	—	—	PUNCT
cblr-1707	1421	35	but	but	CCONJ
cblr-1707	1421	36	set	set	VERB
cblr-1707	1421	37	that	that	PRON
cblr-1707	1421	38	aside	aside	ADV
cblr-1707	1421	39	.	.	PUNCT
cblr-1707	1422	1	if	if	SCONJ
cblr-1707	1422	2	existing	exist	VERB
cblr-1707	1422	3	regulatory	regulatory	ADJ
cblr-1707	1422	4	constraints	constraint	NOUN
cblr-1707	1422	5	are	be	AUX
cblr-1707	1422	6	ineffective	ineffective	ADJ
cblr-1707	1422	7	,	,	PUNCT
cblr-1707	1422	8	then	then	ADV
cblr-1707	1422	9	they	they	PRON
cblr-1707	1422	10	are	be	AUX
cblr-1707	1422	11	not	not	PART
cblr-1707	1422	12	meaningfully	meaningfully	ADV
cblr-1707	1422	13	impeding	impede	VERB
cblr-1707	1422	14	the	the	DET
cblr-1707	1422	15	market	market	NOUN
cblr-1707	1422	16	.	.	PUNCT
cblr-1707	1423	1	nor	nor	CCONJ
cblr-1707	1423	2	are	be	AUX
cblr-1707	1423	3	anti	anti	ADJ
cblr-1707	1423	4	-	-	ADJ
cblr-1707	1423	5	money	money	ADJ
cblr-1707	1423	6	laundering	laundering	NOUN
cblr-1707	1423	7	and	and	CCONJ
cblr-1707	1423	8	“	"	PUNCT
cblr-1707	1423	9	know	know	VERB
cblr-1707	1423	10	your	your	PRON
cblr-1707	1423	11	customer	customer	NOUN
cblr-1707	1423	12	”	"	PUNCT
cblr-1707	1423	13	rules	rule	VERB
cblr-1707	1423	14	a	a	DET
cblr-1707	1423	15	likely	likely	ADJ
cblr-1707	1423	16	culprit	culprit	NOUN
cblr-1707	1423	17	;	;	PUNCT
cblr-1707	1423	18	their	their	PRON
cblr-1707	1423	19	cost	cost	NOUN
cblr-1707	1423	20	did	do	AUX
cblr-1707	1423	21	n’t	not	PART
cblr-1707	1423	22	become	become	VERB
cblr-1707	1423	23	meaningful	meaningful	ADJ
cblr-1707	1423	24	until	until	ADP
cblr-1707	1423	25	the	the	DET
cblr-1707	1423	26	early	early	ADJ
cblr-1707	1423	27	2000s,260	2000s,260	NUM
cblr-1707	1423	28	whereas	whereas	SCONJ
cblr-1707	1423	29	the	the	DET
cblr-1707	1423	30	problem	problem	NOUN
cblr-1707	1423	31	of	of	ADP
cblr-1707	1423	32	the	the	DET
cblr-1707	1423	33	unbanked	unbanked	PROPN
cblr-1707	1423	34	has	have	AUX
cblr-1707	1423	35	been	be	AUX
cblr-1707	1423	36	around	around	ADV
cblr-1707	1423	37	for	for	ADP
cblr-1707	1423	38	much	much	ADV
cblr-1707	1423	39	longer	long	ADJ
cblr-1707	1423	40	.	.	PUNCT
cblr-1707	1424	1	so	so	ADV
cblr-1707	1424	2	regulation	regulation	NOUN
cblr-1707	1424	3	ca	can	AUX
cblr-1707	1424	4	n’t	not	PART
cblr-1707	1424	5	shoulder	shoulder	VERB
cblr-1707	1424	6	the	the	DET
cblr-1707	1424	7	blame	blame	NOUN
cblr-1707	1424	8	,	,	PUNCT
cblr-1707	1424	9	at	at	ADP
cblr-1707	1424	10	least	least	ADJ
cblr-1707	1424	11	not	not	PART
cblr-1707	1424	12	all	all	PRON
cblr-1707	1424	13	of	of	ADP
cblr-1707	1424	14	it	it	PRON
cblr-1707	1424	15	.	.	PUNCT
cblr-1707	1425	1	in	in	ADP
cblr-1707	1425	2	fact	fact	NOUN
cblr-1707	1425	3	,	,	PUNCT
cblr-1707	1425	4	there	there	PRON
cblr-1707	1425	5	is	be	VERB
cblr-1707	1425	6	reason	reason	NOUN
cblr-1707	1425	7	to	to	PART
cblr-1707	1425	8	think	think	VERB
cblr-1707	1425	9	that	that	SCONJ
cblr-1707	1425	10	deregulation	deregulation	NOUN
cblr-1707	1425	11	of	of	ADP
cblr-1707	1425	12	deposit	deposit	NOUN
cblr-1707	1425	13	interest	interest	NOUN
cblr-1707	1425	14	rates	rate	NOUN
cblr-1707	1425	15	exacerbated	exacerbate	VERB
cblr-1707	1425	16	the	the	DET
cblr-1707	1425	17	problem.261	problem.261	NOUN
cblr-1707	1425	18	promisingly	promisingly	ADV
cblr-1707	1425	19	,	,	PUNCT
cblr-1707	1425	20	payment	payment	NOUN
cblr-1707	1425	21	innovation	innovation	NOUN
cblr-1707	1425	22	has	have	AUX
cblr-1707	1425	23	surged	surge	VERB
cblr-1707	1425	24	in	in	ADP
cblr-1707	1425	25	recent	recent	ADJ
cblr-1707	1425	26	years	year	NOUN
cblr-1707	1425	27	.	.	PUNCT
cblr-1707	1426	1	new	new	ADJ
cblr-1707	1426	2	services	service	NOUN
cblr-1707	1426	3	like	like	ADP
cblr-1707	1426	4	apple	apple	NOUN
cblr-1707	1426	5	pay	pay	NOUN
cblr-1707	1426	6	,	,	PUNCT
cblr-1707	1426	7	android	android	PROPN
cblr-1707	1426	8	pay	pay	NOUN
cblr-1707	1426	9	,	,	PUNCT
cblr-1707	1426	10	and	and	CCONJ
cblr-1707	1426	11	venmo	venmo	NOUN
cblr-1707	1426	12	have	have	AUX
cblr-1707	1426	13	become	become	VERB
cblr-1707	1426	14	a	a	DET
cblr-1707	1426	15	meaningful	meaningful	ADJ
cblr-1707	1426	16	part	part	NOUN
cblr-1707	1426	17	of	of	ADP
cblr-1707	1426	18	the	the	DET
cblr-1707	1426	19	payments	payment	NOUN
cblr-1707	1426	20	landscape	landscape	NOUN
cblr-1707	1426	21	.	.	PUNCT
cblr-1707	1427	1	paypal	paypal	PROPN
cblr-1707	1427	2	has	have	AUX
cblr-1707	1427	3	been	be	AUX
cblr-1707	1427	4	a	a	DET
cblr-1707	1427	5	major	major	ADJ
cblr-1707	1427	6	player	player	NOUN
cblr-1707	1427	7	in	in	ADP
cblr-1707	1427	8	payments	payment	NOUN
cblr-1707	1427	9	for	for	ADP
cblr-1707	1427	10	even	even	ADV
cblr-1707	1427	11	longer	long	ADV
cblr-1707	1427	12	.	.	PUNCT
cblr-1707	1428	1	but	but	CCONJ
cblr-1707	1428	2	these	these	DET
cblr-1707	1428	3	services	service	NOUN
cblr-1707	1428	4	do	do	AUX
cblr-1707	1428	5	n’t	not	PART
cblr-1707	1428	6	offer	offer	VERB
cblr-1707	1428	7	adequate	adequate	ADJ
cblr-1707	1428	8	substitutes	substitute	NOUN
cblr-1707	1428	9	for	for	ADP
cblr-1707	1428	10	the	the	DET
cblr-1707	1428	11	mainstream	mainstream	NOUN
cblr-1707	1428	12	payment	payment	NOUN
cblr-1707	1428	13	system	system	NOUN
cblr-1707	1428	14	.	.	PUNCT
cblr-1707	1429	1	paypal	paypal	PROPN
cblr-1707	1429	2	and	and	CCONJ
cblr-1707	1429	3	venmo	venmo	NOUN
cblr-1707	1429	4	are	be	AUX
cblr-1707	1429	5	closed	close	VERB
cblr-1707	1429	6	systems	system	NOUN
cblr-1707	1429	7	that	that	PRON
cblr-1707	1429	8	process	process	VERB
cblr-1707	1429	9	payments	payment	NOUN
cblr-1707	1429	10	only	only	ADV
cblr-1707	1429	11	among	among	ADP
cblr-1707	1429	12	existing	exist	VERB
cblr-1707	1429	13	users	user	NOUN
cblr-1707	1429	14	;	;	PUNCT
cblr-1707	1429	15	they	they	PRON
cblr-1707	1429	16	are	be	AUX
cblr-1707	1429	17	not	not	PART
cblr-1707	1429	18	general	general	ADJ
cblr-1707	1429	19	-	-	PUNCT
cblr-1707	1429	20	purpose	purpose	NOUN
cblr-1707	1429	21	payment	payment	NOUN
cblr-1707	1429	22	systems	system	NOUN
cblr-1707	1429	23	.	.	PUNCT
cblr-1707	1430	1	and	and	CCONJ
cblr-1707	1430	2	both	both	PRON
cblr-1707	1430	3	require	require	VERB
cblr-1707	1430	4	users	user	NOUN
cblr-1707	1430	5	to	to	PART
cblr-1707	1430	6	have	have	VERB
cblr-1707	1430	7	a	a	DET
cblr-1707	1430	8	bank	bank	NOUN
cblr-1707	1430	9	or	or	CCONJ
cblr-1707	1430	10	credit	credit	NOUN
cblr-1707	1430	11	card	card	NOUN
cblr-1707	1430	12	account.262	account.262	NUM
cblr-1707	1430	13	apple	apple	NOUN
cblr-1707	1430	14	pay	pay	NOUN
cblr-1707	1430	15	and	and	CCONJ
cblr-1707	1430	16	android	android	PROPN
cblr-1707	1430	17	pay	pay	NOUN
cblr-1707	1430	18	are	be	AUX
cblr-1707	1430	19	general	general	ADJ
cblr-1707	1430	20	-	-	PUNCT
cblr-1707	1430	21	purpose	purpose	NOUN
cblr-1707	1430	22	,	,	PUNCT
cblr-1707	1430	23	but	but	CCONJ
cblr-1707	1430	24	they	they	PRON
cblr-1707	1430	25	too	too	ADV
cblr-1707	1430	26	must	must	AUX
cblr-1707	1430	27	link	link	VERB
cblr-1707	1430	28	to	to	ADP
cblr-1707	1430	29	an	an	DET
cblr-1707	1430	30	existing	exist	VERB
cblr-1707	1430	31	bank	bank	NOUN
cblr-1707	1430	32	or	or	CCONJ
cblr-1707	1430	33	credit	credit	NOUN
cblr-1707	1430	34	card	card	NOUN
cblr-1707	1430	35	account	account	NOUN
cblr-1707	1430	36	.	.	PUNCT
cblr-1707	1431	1	as	as	ADP
cblr-1707	1431	2	a	a	DET
cblr-1707	1431	3	practical	practical	ADJ
cblr-1707	1431	4	matter	matter	NOUN
cblr-1707	1431	5	,	,	PUNCT
cblr-1707	1431	6	these	these	DET
cblr-1707	1431	7	services	service	NOUN
cblr-1707	1431	8	remain	remain	VERB
cblr-1707	1431	9	unavailable	unavailable	ADJ
cblr-1707	1431	10	to	to	ADP
cblr-1707	1431	11	unbanked	unbanked	ADJ
cblr-1707	1431	12	households	household	NOUN
cblr-1707	1431	13	.	.	PUNCT
cblr-1707	1432	1	further	far	ADV
cblr-1707	1432	2	,	,	PUNCT
cblr-1707	1432	3	one	one	PRON
cblr-1707	1432	4	should	should	AUX
cblr-1707	1432	5	not	not	PART
cblr-1707	1432	6	exaggerate	exaggerate	VERB
cblr-1707	1432	7	the	the	DET
cblr-1707	1432	8	extent	extent	NOUN
cblr-1707	1432	9	to	to	PART
cblr-1707	1432	10	which	which	PRON
cblr-1707	1432	11	these	these	DET
cblr-1707	1432	12	new	new	ADJ
cblr-1707	1432	13	interfaces	interface	NOUN
cblr-1707	1432	14	bypass	bypass	VERB
cblr-1707	1432	15	the	the	DET
cblr-1707	1432	16	traditional	traditional	ADJ
cblr-1707	1432	17	,	,	PUNCT
cblr-1707	1432	18	bankcentered	bankcentered	ADJ
cblr-1707	1432	19	payments	payment	NOUN
cblr-1707	1432	20	system	system	NOUN
cblr-1707	1432	21	.	.	PUNCT
cblr-1707	1433	1	all	all	DET
cblr-1707	1433	2	these	these	DET
cblr-1707	1433	3	consumer	consumer	NOUN
cblr-1707	1433	4	interfaces	interface	NOUN
cblr-1707	1433	5	are	be	AUX
cblr-1707	1433	6	259	259	NUM
cblr-1707	1433	7	ricks	rick	NOUN
cblr-1707	1433	8	,	,	PUNCT
cblr-1707	1433	9	supra	supra	PROPN
cblr-1707	1433	10	note	note	PROPN
cblr-1707	1433	11	19	19	NUM
cblr-1707	1433	12	,	,	PUNCT
cblr-1707	1433	13	at	at	ADP
cblr-1707	1433	14	230–40	230–40	NUM
cblr-1707	1433	15	;	;	PUNCT
cblr-1707	1433	16	ricks	rick	NOUN
cblr-1707	1433	17	,	,	PUNCT
cblr-1707	1433	18	supra	supra	PROPN
cblr-1707	1433	19	note	note	NOUN
cblr-1707	1433	20	44	44	NUM
cblr-1707	1433	21	.	.	NOUN
cblr-1707	1433	22	260	260	NUM
cblr-1707	1434	1	these	these	DET
cblr-1707	1434	2	costs	cost	NOUN
cblr-1707	1434	3	escalated	escalate	VERB
cblr-1707	1434	4	dramatically	dramatically	ADV
cblr-1707	1434	5	as	as	ADP
cblr-1707	1434	6	a	a	DET
cblr-1707	1434	7	consequence	consequence	NOUN
cblr-1707	1434	8	of	of	ADP
cblr-1707	1434	9	the	the	DET
cblr-1707	1434	10	usa	usa	PROPN
cblr-1707	1434	11	patriot	patriot	PROPN
cblr-1707	1434	12	act	act	PROPN
cblr-1707	1434	13	of	of	ADP
cblr-1707	1434	14	2001	2001	NUM
cblr-1707	1434	15	,	,	PUNCT
cblr-1707	1434	16	pub	pub	NOUN
cblr-1707	1434	17	.	.	PUNCT
cblr-1707	1435	1	l.	l.	PROPN
cblr-1707	1435	2	no	no	INTJ
cblr-1707	1435	3	.	.	PUNCT
cblr-1707	1436	1	107	107	NUM
cblr-1707	1436	2	-	-	SYM
cblr-1707	1436	3	56	56	NUM
cblr-1707	1436	4	,	,	PUNCT
cblr-1707	1436	5	115	115	NUM
cblr-1707	1436	6	stat	stat	NOUN
cblr-1707	1436	7	.	.	PUNCT
cblr-1707	1437	1	272	272	NUM
cblr-1707	1437	2	.	.	X
cblr-1707	1438	1	261	261	NUM
cblr-1707	1438	2	see	see	VERB
cblr-1707	1438	3	supra	supra	PROPN
cblr-1707	1438	4	notes	note	VERB
cblr-1707	1438	5	242–243	242–243	NUM
cblr-1707	1438	6	and	and	CCONJ
cblr-1707	1438	7	accompanying	accompany	VERB
cblr-1707	1438	8	text	text	NOUN
cblr-1707	1438	9	.	.	PUNCT
cblr-1707	1439	1	262	262	NUM
cblr-1707	1439	2	according	accord	VERB
cblr-1707	1439	3	to	to	ADP
cblr-1707	1439	4	one	one	NUM
cblr-1707	1439	5	authority	authority	NOUN
cblr-1707	1439	6	,	,	PUNCT
cblr-1707	1439	7	paypal	paypal	PROPN
cblr-1707	1439	8	does	do	VERB
cblr-1707	1439	9	not	not	PART
cblr-1707	1439	10	“	"	PUNCT
cblr-1707	1439	11	[	[	X
cblr-1707	1439	12	present	present	NOUN
cblr-1707	1439	13	]	]	PUNCT
cblr-1707	1439	14	a	a	DET
cblr-1707	1439	15	‘	'	PUNCT
cblr-1707	1439	16	new	new	ADJ
cblr-1707	1439	17	’	'	PUNCT
cblr-1707	1439	18	payment	payment	NOUN
cblr-1707	1439	19	system	system	NOUN
cblr-1707	1439	20	,	,	PUNCT
cblr-1707	1439	21	[	[	X
cblr-1707	1439	22	but	but	CCONJ
cblr-1707	1439	23	relies	rely	VERB
cblr-1707	1439	24	]	]	PUNCT
cblr-1707	1439	25	on	on	ADP
cblr-1707	1439	26	existing	exist	VERB
cblr-1707	1439	27	systems	system	NOUN
cblr-1707	1439	28	(	(	PUNCT
cblr-1707	1439	29	credit	credit	NOUN
cblr-1707	1439	30	cards	card	NOUN
cblr-1707	1439	31	,	,	PUNCT
cblr-1707	1439	32	debit	debit	NOUN
cblr-1707	1439	33	cards	card	NOUN
cblr-1707	1439	34	,	,	PUNCT
cblr-1707	1439	35	checking	check	VERB
cblr-1707	1439	36	accounts	account	NOUN
cblr-1707	1439	37	,	,	PUNCT
cblr-1707	1439	38	and	and	CCONJ
cblr-1707	1439	39	ach	ach	NOUN
cblr-1707	1439	40	transfers	transfer	NOUN
cblr-1707	1439	41	)	)	PUNCT
cblr-1707	1439	42	to	to	PART
cblr-1707	1439	43	make	make	VERB
cblr-1707	1439	44	payments	payment	NOUN
cblr-1707	1439	45	.	.	PUNCT
cblr-1707	1440	1	essentially	essentially	ADV
cblr-1707	1440	2	,	,	PUNCT
cblr-1707	1440	3	[	[	X
cblr-1707	1440	4	it	it	PRON
cblr-1707	1440	5	]	]	PUNCT
cblr-1707	1440	6	uses	use	VERB
cblr-1707	1440	7	the	the	DET
cblr-1707	1440	8	technology	technology	NOUN
cblr-1707	1440	9	of	of	ADP
cblr-1707	1440	10	the	the	DET
cblr-1707	1440	11	web	web	NOUN
cblr-1707	1440	12	site	site	NOUN
cblr-1707	1440	13	to	to	PART
cblr-1707	1440	14	facilitate	facilitate	VERB
cblr-1707	1440	15	the	the	DET
cblr-1707	1440	16	use	use	NOUN
cblr-1707	1440	17	of	of	ADP
cblr-1707	1440	18	conventional	conventional	ADJ
cblr-1707	1440	19	payment	payment	NOUN
cblr-1707	1440	20	networks	network	NOUN
cblr-1707	1440	21	.	.	PUNCT
cblr-1707	1440	22	”	"	PUNCT
cblr-1707	1441	1	ronald	ronald	PROPN
cblr-1707	1441	2	j.	j.	PROPN
cblr-1707	1441	3	mann	mann	PROPN
cblr-1707	1441	4	,	,	PUNCT
cblr-1707	1441	5	payment	payment	NOUN
cblr-1707	1441	6	systems	system	NOUN
cblr-1707	1441	7	and	and	CCONJ
cblr-1707	1441	8	other	other	ADJ
cblr-1707	1441	9	financial	financial	ADJ
cblr-1707	1441	10	transactions	transaction	NOUN
cblr-1707	1441	11	313	313	NUM
cblr-1707	1441	12	(	(	PUNCT
cblr-1707	1441	13	5th	5th	ADJ
cblr-1707	1441	14	ed	ed	NOUN
cblr-1707	1441	15	.	.	PROPN
cblr-1707	1441	16	2011	2011	NUM
cblr-1707	1441	17	)	)	PUNCT
cblr-1707	1441	18	.	.	PUNCT
cblr-1707	1442	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	1442	2	no	no	NOUN
cblr-1707	1442	3	.	.	PUNCT
cblr-1707	1443	1	3:757	3:757	NUM
cblr-1707	1443	2	]	]	X
cblr-1707	1443	3	money	money	NOUN
cblr-1707	1443	4	as	as	ADP
cblr-1707	1443	5	infrastructure	infrastructure	NOUN
cblr-1707	1443	6	835	835	NUM
cblr-1707	1443	7	“	"	PUNCT
cblr-1707	1443	8	new	new	ADJ
cblr-1707	1443	9	technologies	technology	NOUN
cblr-1707	1443	10	running	run	VERB
cblr-1707	1443	11	on	on	ADP
cblr-1707	1443	12	old	old	ADJ
cblr-1707	1443	13	rails	rail	NOUN
cblr-1707	1443	14	.	.	PUNCT
cblr-1707	1444	1	”263	”263	PUNCT
cblr-1707	1444	2	they	they	PRON
cblr-1707	1444	3	provide	provide	VERB
cblr-1707	1444	4	“	"	PUNCT
cblr-1707	1444	5	mirages	mirage	NOUN
cblr-1707	1444	6	of	of	ADP
cblr-1707	1444	7	financial	financial	ADJ
cblr-1707	1444	8	disintermediation	disintermediation	NOUN
cblr-1707	1444	9	.	.	PUNCT
cblr-1707	1445	1	”264	”264	NOUN
cblr-1707	1445	2	a	a	DET
cblr-1707	1445	3	more	more	ADV
cblr-1707	1445	4	serious	serious	ADJ
cblr-1707	1445	5	case	case	NOUN
cblr-1707	1445	6	for	for	ADP
cblr-1707	1445	7	a	a	DET
cblr-1707	1445	8	“	"	PUNCT
cblr-1707	1445	9	market	market	NOUN
cblr-1707	1445	10	”	"	PUNCT
cblr-1707	1445	11	solution	solution	NOUN
cblr-1707	1445	12	can	can	AUX
cblr-1707	1445	13	be	be	AUX
cblr-1707	1445	14	mounted	mount	VERB
cblr-1707	1445	15	on	on	ADP
cblr-1707	1445	16	behalf	behalf	NOUN
cblr-1707	1445	17	of	of	ADP
cblr-1707	1445	18	prepaid	prepaid	ADJ
cblr-1707	1445	19	cards	card	NOUN
cblr-1707	1445	20	,	,	PUNCT
cblr-1707	1445	21	discussed	discuss	VERB
cblr-1707	1445	22	briefly	briefly	NOUN
cblr-1707	1445	23	above.265	above.265	PROPN
cblr-1707	1445	24	prepaid	prepay	VERB
cblr-1707	1445	25	cards	card	NOUN
cblr-1707	1445	26	are	be	AUX
cblr-1707	1445	27	among	among	ADP
cblr-1707	1445	28	the	the	DET
cblr-1707	1445	29	fastest	fast	ADV
cblr-1707	1445	30	-	-	PUNCT
cblr-1707	1445	31	growing	grow	VERB
cblr-1707	1445	32	payment	payment	NOUN
cblr-1707	1445	33	devices	device	NOUN
cblr-1707	1445	34	in	in	ADP
cblr-1707	1445	35	the	the	DET
cblr-1707	1445	36	united	united	PROPN
cblr-1707	1445	37	states	states	PROPN
cblr-1707	1445	38	,	,	PUNCT
cblr-1707	1445	39	and	and	CCONJ
cblr-1707	1445	40	they	they	PRON
cblr-1707	1445	41	have	have	AUX
cblr-1707	1445	42	achieved	achieve	VERB
cblr-1707	1445	43	meaningful	meaningful	ADJ
cblr-1707	1445	44	market	market	NOUN
cblr-1707	1445	45	penetration	penetration	NOUN
cblr-1707	1445	46	in	in	ADP
cblr-1707	1445	47	unbanked	unbanked	ADJ
cblr-1707	1445	48	and	and	CCONJ
cblr-1707	1445	49	underbanked	underbanked	ADJ
cblr-1707	1445	50	populations	population	NOUN
cblr-1707	1445	51	.	.	PUNCT
cblr-1707	1446	1	some	some	DET
cblr-1707	1446	2	prepaid	prepaid	ADJ
cblr-1707	1446	3	cards	card	NOUN
cblr-1707	1446	4	approach	approach	VERB
cblr-1707	1446	5	the	the	DET
cblr-1707	1446	6	functionality	functionality	NOUN
cblr-1707	1446	7	of	of	ADP
cblr-1707	1446	8	checking	check	VERB
cblr-1707	1446	9	accounts	account	NOUN
cblr-1707	1446	10	,	,	PUNCT
cblr-1707	1446	11	offering	offer	VERB
cblr-1707	1446	12	services	service	NOUN
cblr-1707	1446	13	such	such	ADJ
cblr-1707	1446	14	as	as	ADP
cblr-1707	1446	15	direct	direct	ADJ
cblr-1707	1446	16	deposit	deposit	NOUN
cblr-1707	1446	17	,	,	PUNCT
cblr-1707	1446	18	automatic	automatic	ADJ
cblr-1707	1446	19	bill	bill	NOUN
cblr-1707	1446	20	pay	pay	NOUN
cblr-1707	1446	21	,	,	PUNCT
cblr-1707	1446	22	and	and	CCONJ
cblr-1707	1446	23	online	online	ADJ
cblr-1707	1446	24	or	or	CCONJ
cblr-1707	1446	25	mobile	mobile	ADJ
cblr-1707	1446	26	device	device	NOUN
cblr-1707	1446	27	access	access	NOUN
cblr-1707	1446	28	.	.	PUNCT
cblr-1707	1447	1	compared	compare	VERB
cblr-1707	1447	2	to	to	ADP
cblr-1707	1447	3	traditional	traditional	ADJ
cblr-1707	1447	4	bank	bank	NOUN
cblr-1707	1447	5	accounts	account	NOUN
cblr-1707	1447	6	,	,	PUNCT
cblr-1707	1447	7	though	though	ADV
cblr-1707	1447	8	,	,	PUNCT
cblr-1707	1447	9	prepaid	prepaid	ADJ
cblr-1707	1447	10	cards	card	NOUN
cblr-1707	1447	11	are	be	AUX
cblr-1707	1447	12	expensive	expensive	ADJ
cblr-1707	1447	13	.	.	PUNCT
cblr-1707	1448	1	according	accord	VERB
cblr-1707	1448	2	to	to	ADP
cblr-1707	1448	3	one	one	NUM
cblr-1707	1448	4	2014	2014	NUM
cblr-1707	1448	5	study	study	NOUN
cblr-1707	1448	6	,	,	PUNCT
cblr-1707	1448	7	the	the	DET
cblr-1707	1448	8	median	median	ADJ
cblr-1707	1448	9	prepaid	prepaid	ADJ
cblr-1707	1448	10	card	card	NOUN
cblr-1707	1448	11	user	user	NOUN
cblr-1707	1448	12	pays	pay	VERB
cblr-1707	1448	13	between	between	ADP
cblr-1707	1448	14	$	$	SYM
cblr-1707	1448	15	120	120	NUM
cblr-1707	1448	16	and	and	CCONJ
cblr-1707	1448	17	$	$	SYM
cblr-1707	1448	18	360	360	NUM
cblr-1707	1448	19	annually	annually	ADV
cblr-1707	1448	20	in	in	ADP
cblr-1707	1448	21	card	card	NOUN
cblr-1707	1448	22	fees.266	fees.266	NUM
cblr-1707	1448	23	it	it	PRON
cblr-1707	1448	24	is	be	AUX
cblr-1707	1448	25	possible	possible	ADJ
cblr-1707	1448	26	that	that	SCONJ
cblr-1707	1448	27	these	these	DET
cblr-1707	1448	28	fees	fee	NOUN
cblr-1707	1448	29	have	have	AUX
cblr-1707	1448	30	decreased	decrease	VERB
cblr-1707	1448	31	somewhat	somewhat	ADV
cblr-1707	1448	32	in	in	ADP
cblr-1707	1448	33	the	the	DET
cblr-1707	1448	34	ensuing	ensue	VERB
cblr-1707	1448	35	years	year	NOUN
cblr-1707	1448	36	due	due	ADJ
cblr-1707	1448	37	to	to	ADP
cblr-1707	1448	38	increased	increase	VERB
cblr-1707	1448	39	competition	competition	NOUN
cblr-1707	1448	40	.	.	PUNCT
cblr-1707	1449	1	still	still	ADV
cblr-1707	1449	2	,	,	PUNCT
cblr-1707	1449	3	for	for	ADP
cblr-1707	1449	4	unbanked	unbanked	ADJ
cblr-1707	1449	5	and	and	CCONJ
cblr-1707	1449	6	underbanked	underbanked	ADJ
cblr-1707	1449	7	households	household	NOUN
cblr-1707	1449	8	,	,	PUNCT
cblr-1707	1449	9	a	a	DET
cblr-1707	1449	10	large	large	ADJ
cblr-1707	1449	11	proportion	proportion	NOUN
cblr-1707	1449	12	of	of	ADP
cblr-1707	1449	13	which	which	PRON
cblr-1707	1449	14	make	make	VERB
cblr-1707	1449	15	less	less	ADJ
cblr-1707	1449	16	than	than	ADP
cblr-1707	1449	17	$	$	SYM
cblr-1707	1449	18	30,000	30,000	NUM
cblr-1707	1449	19	per	per	ADP
cblr-1707	1449	20	year267	year267	PROPN
cblr-1707	1449	21	,	,	PUNCT
cblr-1707	1449	22	these	these	DET
cblr-1707	1449	23	fees	fee	NOUN
cblr-1707	1449	24	are	be	AUX
cblr-1707	1449	25	a	a	DET
cblr-1707	1449	26	significant	significant	ADJ
cblr-1707	1449	27	expense	expense	NOUN
cblr-1707	1449	28	.	.	PUNCT
cblr-1707	1450	1	but	but	CCONJ
cblr-1707	1450	2	are	be	AUX
cblr-1707	1450	3	prepaid	prepaid	ADJ
cblr-1707	1450	4	cards	card	NOUN
cblr-1707	1450	5	really	really	ADV
cblr-1707	1450	6	a	a	DET
cblr-1707	1450	7	nonbank	nonbank	NOUN
cblr-1707	1450	8	payment	payment	NOUN
cblr-1707	1450	9	system	system	NOUN
cblr-1707	1450	10	?	?	PUNCT
cblr-1707	1451	1	they	they	PRON
cblr-1707	1451	2	piggyback	piggyback	VERB
cblr-1707	1451	3	on	on	ADP
cblr-1707	1451	4	existing	exist	VERB
cblr-1707	1451	5	payment	payment	NOUN
cblr-1707	1451	6	network	network	NOUN
cblr-1707	1451	7	rails	rail	NOUN
cblr-1707	1451	8	(	(	PUNCT
cblr-1707	1451	9	point	point	NOUN
cblr-1707	1451	10	of	of	ADP
cblr-1707	1451	11	sale	sale	NOUN
cblr-1707	1451	12	terminals	terminal	NOUN
cblr-1707	1451	13	and	and	CCONJ
cblr-1707	1451	14	atms	atms	NOUN
cblr-1707	1451	15	)	)	PUNCT
cblr-1707	1451	16	whose	whose	DET
cblr-1707	1451	17	primary	primary	ADJ
cblr-1707	1451	18	function	function	NOUN
cblr-1707	1451	19	is	be	AUX
cblr-1707	1451	20	to	to	PART
cblr-1707	1451	21	service	service	VERB
cblr-1707	1451	22	bank	bank	NOUN
cblr-1707	1451	23	-	-	PUNCT
cblr-1707	1451	24	centric	centric	ADJ
cblr-1707	1451	25	products	product	NOUN
cblr-1707	1451	26	(	(	PUNCT
cblr-1707	1451	27	credit	credit	NOUN
cblr-1707	1451	28	and	and	CCONJ
cblr-1707	1451	29	debit	debit	NOUN
cblr-1707	1451	30	cards	card	NOUN
cblr-1707	1451	31	)	)	PUNCT
cblr-1707	1451	32	.	.	PUNCT
cblr-1707	1452	1	more	more	ADJ
cblr-1707	1452	2	than	than	ADP
cblr-1707	1452	3	that	that	PRON
cblr-1707	1452	4	,	,	PUNCT
cblr-1707	1452	5	in	in	ADP
cblr-1707	1452	6	most	most	ADJ
cblr-1707	1452	7	cases	case	NOUN
cblr-1707	1452	8	the	the	DET
cblr-1707	1452	9	prepaid	prepay	VERB
cblr-1707	1452	10	card	card	NOUN
cblr-1707	1452	11	issuer	issuer	NOUN
cblr-1707	1452	12	is	be	AUX
cblr-1707	1452	13	a	a	DET
cblr-1707	1452	14	bank.268	bank.268	NOUN
cblr-1707	1452	15	more	more	ADV
cblr-1707	1452	16	accurately	accurately	ADV
cblr-1707	1452	17	,	,	PUNCT
cblr-1707	1452	18	the	the	DET
cblr-1707	1452	19	bank	bank	NOUN
cblr-1707	1452	20	issues	issue	VERB
cblr-1707	1452	21	an	an	DET
cblr-1707	1452	22	account	account	NOUN
cblr-1707	1452	23	linked	link	VERB
cblr-1707	1452	24	to	to	ADP
cblr-1707	1452	25	the	the	DET
cblr-1707	1452	26	card	card	NOUN
cblr-1707	1452	27	,	,	PUNCT
cblr-1707	1452	28	in	in	ADP
cblr-1707	1452	29	the	the	DET
cblr-1707	1452	30	same	same	ADJ
cblr-1707	1452	31	way	way	NOUN
cblr-1707	1452	32	that	that	PRON
cblr-1707	1452	33	a	a	DET
cblr-1707	1452	34	debit	debit	NOUN
cblr-1707	1452	35	card	card	NOUN
cblr-1707	1452	36	links	link	NOUN
cblr-1707	1452	37	to	to	ADP
cblr-1707	1452	38	a	a	DET
cblr-1707	1452	39	bank	bank	NOUN
cblr-1707	1452	40	deposit	deposit	NOUN
cblr-1707	1452	41	account.269	account.269	PROPN
cblr-1707	1452	42	it	it	PRON
cblr-1707	1452	43	is	be	AUX
cblr-1707	1452	44	common	common	ADJ
cblr-1707	1452	45	to	to	PART
cblr-1707	1452	46	speak	speak	VERB
cblr-1707	1452	47	of	of	ADP
cblr-1707	1452	48	“	"	PUNCT
cblr-1707	1452	49	money	money	NOUN
cblr-1707	1452	50	”	"	PUNCT
cblr-1707	1452	51	being	be	AUX
cblr-1707	1452	52	“	"	PUNCT
cblr-1707	1452	53	stored	store	VERB
cblr-1707	1452	54	”	"	PUNCT
cblr-1707	1452	55	or	or	CCONJ
cblr-1707	1452	56	“	"	PUNCT
cblr-1707	1452	57	loaded	load	VERB
cblr-1707	1452	58	”	"	PUNCT
cblr-1707	1452	59	on	on	ADP
cblr-1707	1452	60	a	a	DET
cblr-1707	1452	61	prepaid	prepaid	ADJ
cblr-1707	1452	62	card	card	NOUN
cblr-1707	1452	63	,	,	PUNCT
cblr-1707	1452	64	but	but	CCONJ
cblr-1707	1452	65	in	in	ADP
cblr-1707	1452	66	fact	fact	NOUN
cblr-1707	1452	67	the	the	DET
cblr-1707	1452	68	“	"	PUNCT
cblr-1707	1452	69	money	money	NOUN
cblr-1707	1452	70	”	"	PUNCT
cblr-1707	1452	71	consists	consist	VERB
cblr-1707	1452	72	of	of	ADP
cblr-1707	1452	73	263	263	NUM
cblr-1707	1452	74	barr	barr	PROPN
cblr-1707	1452	75	et	et	PROPN
cblr-1707	1452	76	al	al	PROPN
cblr-1707	1452	77	.	.	PROPN
cblr-1707	1452	78	,	,	PUNCT
cblr-1707	1452	79	supra	supra	PROPN
cblr-1707	1452	80	note	note	PROPN
cblr-1707	1452	81	187	187	NUM
cblr-1707	1452	82	,	,	PUNCT
cblr-1707	1452	83	at	at	ADP
cblr-1707	1452	84	796	796	NUM
cblr-1707	1452	85	.	.	PUNCT
cblr-1707	1452	86	264	264	NUM
cblr-1707	1452	87	tom	tom	PROPN
cblr-1707	1452	88	c.	c.	PROPN
cblr-1707	1452	89	w.	w.	PROPN
cblr-1707	1452	90	lin	lin	PROPN
cblr-1707	1452	91	,	,	PUNCT
cblr-1707	1452	92	infinite	infinite	ADJ
cblr-1707	1452	93	financial	financial	ADJ
cblr-1707	1452	94	intermediation	intermediation	NOUN
cblr-1707	1452	95	,	,	PUNCT
cblr-1707	1452	96	50	50	NUM
cblr-1707	1452	97	wake	wake	VERB
cblr-1707	1452	98	forest	forest	PROPN
cblr-1707	1452	99	l.	l.	PROPN
cblr-1707	1452	100	rev	rev	PROPN
cblr-1707	1452	101	.	.	PROPN
cblr-1707	1452	102	643	643	NUM
cblr-1707	1452	103	,	,	PUNCT
cblr-1707	1452	104	643–44	643–44	NUM
cblr-1707	1452	105	,	,	PUNCT
cblr-1707	1452	106	656	656	NUM
cblr-1707	1452	107	(	(	PUNCT
cblr-1707	1452	108	2015	2015	NUM
cblr-1707	1452	109	)	)	PUNCT
cblr-1707	1452	110	.	.	PUNCT
cblr-1707	1453	1	265	265	NUM
cblr-1707	1453	2	see	see	VERB
cblr-1707	1453	3	supra	supra	PROPN
cblr-1707	1453	4	notes	note	NOUN
cblr-1707	1453	5	234–235	234–235	NUM
cblr-1707	1453	6	and	and	CCONJ
cblr-1707	1453	7	accompanying	accompany	VERB
cblr-1707	1453	8	text	text	NOUN
cblr-1707	1453	9	.	.	PUNCT
cblr-1707	1454	1	the	the	DET
cblr-1707	1454	2	discussion	discussion	NOUN
cblr-1707	1454	3	here	here	ADV
cblr-1707	1454	4	relates	relate	VERB
cblr-1707	1454	5	to	to	ADP
cblr-1707	1454	6	so	so	ADV
cblr-1707	1454	7	-	-	PUNCT
cblr-1707	1454	8	called	call	VERB
cblr-1707	1454	9	“	"	PUNCT
cblr-1707	1454	10	general	general	ADJ
cblr-1707	1454	11	purpose	purpose	NOUN
cblr-1707	1454	12	reloadable	reloadable	ADJ
cblr-1707	1454	13	”	"	PUNCT
cblr-1707	1454	14	cards	card	NOUN
cblr-1707	1454	15	.	.	PUNCT
cblr-1707	1455	1	266	266	NUM
cblr-1707	1455	2	the	the	DET
cblr-1707	1455	3	pew	pew	NOUN
cblr-1707	1455	4	charitable	charitable	ADJ
cblr-1707	1455	5	trusts	trust	NOUN
cblr-1707	1455	6	,	,	PUNCT
cblr-1707	1455	7	consumers	consumer	NOUN
cblr-1707	1455	8	continue	continue	VERB
cblr-1707	1455	9	to	to	PART
cblr-1707	1455	10	load	load	VERB
cblr-1707	1455	11	up	up	ADP
cblr-1707	1455	12	on	on	ADP
cblr-1707	1455	13	prepaid	prepaid	ADJ
cblr-1707	1455	14	cards	card	NOUN
cblr-1707	1455	15	39	39	NUM
cblr-1707	1455	16	(	(	PUNCT
cblr-1707	1455	17	2014	2014	NUM
cblr-1707	1455	18	)	)	PUNCT
cblr-1707	1455	19	.	.	PUNCT
cblr-1707	1456	1	267	267	NUM
cblr-1707	1456	2	see	see	VERB
cblr-1707	1456	3	2017	2017	NUM
cblr-1707	1456	4	fdic	fdic	PROPN
cblr-1707	1456	5	national	national	ADJ
cblr-1707	1456	6	survey	survey	NOUN
cblr-1707	1456	7	,	,	PUNCT
cblr-1707	1456	8	supra	supra	PROPN
cblr-1707	1456	9	note	note	NOUN
cblr-1707	1456	10	232	232	NUM
cblr-1707	1456	11	,	,	PUNCT
cblr-1707	1456	12	at	at	ADP
cblr-1707	1456	13	19–20	19–20	NUM
cblr-1707	1456	14	.	.	PUNCT
cblr-1707	1456	15	268	268	NUM
cblr-1707	1456	16	regs	reg	NOUN
cblr-1707	1456	17	.	.	PUNCT
cblr-1707	1457	1	e	e	NOUN
cblr-1707	1457	2	and	and	CCONJ
cblr-1707	1457	3	z	z	PROPN
cblr-1707	1457	4	,	,	PUNCT
cblr-1707	1457	5	supra	supra	PROPN
cblr-1707	1457	6	note	note	NOUN
cblr-1707	1457	7	234	234	NUM
cblr-1707	1457	8	,	,	PUNCT
cblr-1707	1457	9	at	at	ADP
cblr-1707	1457	10	83,939	83,939	NUM
cblr-1707	1457	11	.	.	PUNCT
cblr-1707	1458	1	269	269	NUM
cblr-1707	1458	2	hence	hence	ADV
cblr-1707	1458	3	the	the	DET
cblr-1707	1458	4	cfpb	cfpb	NOUN
cblr-1707	1458	5	quite	quite	ADV
cblr-1707	1458	6	sensibly	sensibly	ADV
cblr-1707	1458	7	opts	opt	VERB
cblr-1707	1458	8	for	for	ADP
cblr-1707	1458	9	the	the	DET
cblr-1707	1458	10	term	term	NOUN
cblr-1707	1458	11	“	"	PUNCT
cblr-1707	1458	12	prepaid	prepaid	ADJ
cblr-1707	1458	13	accounts	account	NOUN
cblr-1707	1458	14	”	"	PUNCT
cblr-1707	1458	15	rather	rather	ADV
cblr-1707	1458	16	than	than	ADP
cblr-1707	1458	17	“	"	PUNCT
cblr-1707	1458	18	prepaid	prepaid	ADJ
cblr-1707	1458	19	cards	card	NOUN
cblr-1707	1458	20	.	.	PUNCT
cblr-1707	1458	21	”	"	PUNCT
cblr-1707	1459	1	see	see	VERB
cblr-1707	1459	2	i	i	PRON
cblr-1707	1459	3	d.	d.	PROPN
cblr-1707	1459	4	at	at	ADP
cblr-1707	1459	5	83,934	83,934	NUM
cblr-1707	1459	6	.	.	PUNCT
cblr-1707	1460	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	1460	2	836	836	NUM
cblr-1707	1460	3	columbia	columbia	PROPN
cblr-1707	1460	4	business	business	NOUN
cblr-1707	1460	5	law	law	PROPN
cblr-1707	1460	6	review	review	NOUN
cblr-1707	1460	7	[	[	X
cblr-1707	1460	8	vol	vol	NOUN
cblr-1707	1460	9	.	.	NOUN
cblr-1707	1460	10	2018	2018	NUM
cblr-1707	1460	11	a	a	DET
cblr-1707	1460	12	bank	bank	NOUN
cblr-1707	1460	13	deposit	deposit	NOUN
cblr-1707	1460	14	that	that	PRON
cblr-1707	1460	15	is	be	AUX
cblr-1707	1460	16	associated	associate	VERB
cblr-1707	1460	17	with	with	ADP
cblr-1707	1460	18	the	the	DET
cblr-1707	1460	19	card	card	NOUN
cblr-1707	1460	20	.	.	PUNCT
cblr-1707	1461	1	the	the	DET
cblr-1707	1461	2	prepaid	prepaid	ADJ
cblr-1707	1461	3	card	card	NOUN
cblr-1707	1461	4	program	program	NOUN
cblr-1707	1461	5	manager	manager	NOUN
cblr-1707	1461	6	,	,	PUNCT
cblr-1707	1461	7	which	which	PRON
cblr-1707	1461	8	is	be	AUX
cblr-1707	1461	9	typically	typically	ADV
cblr-1707	1461	10	a	a	DET
cblr-1707	1461	11	nonbank	nonbank	NOUN
cblr-1707	1461	12	,	,	PUNCT
cblr-1707	1461	13	establishes	establish	VERB
cblr-1707	1461	14	the	the	DET
cblr-1707	1461	15	bank	bank	NOUN
cblr-1707	1461	16	account	account	NOUN
cblr-1707	1461	17	and	and	CCONJ
cblr-1707	1461	18	manages	manage	VERB
cblr-1707	1461	19	it	it	PRON
cblr-1707	1461	20	on	on	ADP
cblr-1707	1461	21	a	a	DET
cblr-1707	1461	22	pooled	pooled	ADJ
cblr-1707	1461	23	,	,	PUNCT
cblr-1707	1461	24	custodial	custodial	ADJ
cblr-1707	1461	25	basis	basis	NOUN
cblr-1707	1461	26	for	for	ADP
cblr-1707	1461	27	all	all	DET
cblr-1707	1461	28	cardholders.270	cardholders.270	NOUN
cblr-1707	1461	29	obviously	obviously	ADV
cblr-1707	1461	30	,	,	PUNCT
cblr-1707	1461	31	either	either	CCONJ
cblr-1707	1461	32	the	the	DET
cblr-1707	1461	33	program	program	NOUN
cblr-1707	1461	34	manager	manager	NOUN
cblr-1707	1461	35	or	or	CCONJ
cblr-1707	1461	36	the	the	DET
cblr-1707	1461	37	bank	bank	NOUN
cblr-1707	1461	38	itself	itself	PRON
cblr-1707	1461	39	must	must	AUX
cblr-1707	1461	40	demarcate	demarcate	VERB
cblr-1707	1461	41	each	each	DET
cblr-1707	1461	42	individual	individual	ADJ
cblr-1707	1461	43	cardholder	cardholder	NOUN
cblr-1707	1461	44	’s	’s	PART
cblr-1707	1461	45	entitlement	entitlement	NOUN
cblr-1707	1461	46	to	to	ADP
cblr-1707	1461	47	a	a	DET
cblr-1707	1461	48	portion	portion	NOUN
cblr-1707	1461	49	of	of	ADP
cblr-1707	1461	50	the	the	DET
cblr-1707	1461	51	pooled	pool	VERB
cblr-1707	1461	52	account.271	account.271	PROPN
cblr-1707	1461	53	the	the	DET
cblr-1707	1461	54	fdic	fdic	PROPN
cblr-1707	1461	55	supplies	supply	NOUN
cblr-1707	1461	56	“	"	PUNCT
cblr-1707	1461	57	pass	pass	VERB
cblr-1707	1461	58	-	-	PUNCT
cblr-1707	1461	59	through	through	NOUN
cblr-1707	1461	60	”	"	PUNCT
cblr-1707	1461	61	deposit	deposit	NOUN
cblr-1707	1461	62	insurance	insurance	NOUN
cblr-1707	1461	63	to	to	ADP
cblr-1707	1461	64	cardholders	cardholder	NOUN
cblr-1707	1461	65	so	so	ADV
cblr-1707	1461	66	long	long	ADV
cblr-1707	1461	67	as	as	SCONJ
cblr-1707	1461	68	they	they	PRON
cblr-1707	1461	69	are	be	AUX
cblr-1707	1461	70	the	the	DET
cblr-1707	1461	71	“	"	PUNCT
cblr-1707	1461	72	actual	actual	ADJ
cblr-1707	1461	73	owners	owner	NOUN
cblr-1707	1461	74	”	"	PUNCT
cblr-1707	1461	75	of	of	ADP
cblr-1707	1461	76	the	the	DET
cblr-1707	1461	77	deposit	deposit	NOUN
cblr-1707	1461	78	—	—	PUNCT
cblr-1707	1461	79	in	in	ADP
cblr-1707	1461	80	other	other	ADJ
cblr-1707	1461	81	words	word	NOUN
cblr-1707	1461	82	,	,	PUNCT
cblr-1707	1461	83	so	so	ADV
cblr-1707	1461	84	long	long	ADV
cblr-1707	1461	85	as	as	SCONJ
cblr-1707	1461	86	the	the	DET
cblr-1707	1461	87	program	program	NOUN
cblr-1707	1461	88	manager	manager	NOUN
cblr-1707	1461	89	is	be	AUX
cblr-1707	1461	90	acting	act	VERB
cblr-1707	1461	91	as	as	ADV
cblr-1707	1461	92	custodian.272	custodian.272	PROPN
cblr-1707	1461	93	as	as	ADP
cblr-1707	1461	94	the	the	DET
cblr-1707	1461	95	fdic	fdic	PROPN
cblr-1707	1461	96	notes	note	VERB
cblr-1707	1461	97	,	,	PUNCT
cblr-1707	1461	98	“	"	PUNCT
cblr-1707	1461	99	the	the	DET
cblr-1707	1461	100	access	access	NOUN
cblr-1707	1461	101	mechanism	mechanism	NOUN
cblr-1707	1461	102	[	[	X
cblr-1707	1461	103	i.e.	i.e.	X
cblr-1707	1461	104	,	,	PUNCT
cblr-1707	1461	105	the	the	DET
cblr-1707	1461	106	card	card	NOUN
cblr-1707	1461	107	itself	itself	PRON
cblr-1707	1461	108	]	]	PUNCT
cblr-1707	1461	109	is	be	AUX
cblr-1707	1461	110	merely	merely	ADV
cblr-1707	1461	111	a	a	DET
cblr-1707	1461	112	device	device	NOUN
cblr-1707	1461	113	.	.	PUNCT
cblr-1707	1461	114	.	.	PUNCT
cblr-1707	1461	115	.	.	PUNCT
cblr-1707	1461	116	.	.	PUNCT
cblr-1707	1462	1	the	the	DET
cblr-1707	1462	2	‘	'	PUNCT
cblr-1707	1462	3	deposit	deposit	NOUN
cblr-1707	1462	4	’	'	PUNCT
cblr-1707	1462	5	is	be	AUX
cblr-1707	1462	6	the	the	DET
cblr-1707	1462	7	underlying	underlie	VERB
cblr-1707	1462	8	money	money	NOUN
cblr-1707	1462	9	.	.	PUNCT
cblr-1707	1463	1	”273	”273	VERB
cblr-1707	1463	2	from	from	ADP
cblr-1707	1463	3	the	the	DET
cblr-1707	1463	4	fdic	fdic	PROPN
cblr-1707	1463	5	’s	’s	PART
cblr-1707	1463	6	standpoint	standpoint	NOUN
cblr-1707	1463	7	,	,	PUNCT
cblr-1707	1463	8	then	then	ADV
cblr-1707	1463	9	,	,	PUNCT
cblr-1707	1463	10	the	the	DET
cblr-1707	1463	11	prepaid	prepaid	ADJ
cblr-1707	1463	12	cardholder	cardholder	NOUN
cblr-1707	1463	13	is	be	AUX
cblr-1707	1463	14	the	the	DET
cblr-1707	1463	15	actual	actual	ADJ
cblr-1707	1463	16	owner	owner	NOUN
cblr-1707	1463	17	of	of	ADP
cblr-1707	1463	18	a	a	DET
cblr-1707	1463	19	bank	bank	NOUN
cblr-1707	1463	20	deposit	deposit	NOUN
cblr-1707	1463	21	account	account	NOUN
cblr-1707	1463	22	which	which	PRON
cblr-1707	1463	23	is	be	AUX
cblr-1707	1463	24	accessed	access	VERB
cblr-1707	1463	25	by	by	ADP
cblr-1707	1463	26	the	the	DET
cblr-1707	1463	27	card	card	NOUN
cblr-1707	1463	28	.	.	PUNCT
cblr-1707	1464	1	one	one	PRON
cblr-1707	1464	2	might	might	AUX
cblr-1707	1464	3	fairly	fairly	ADV
cblr-1707	1464	4	question	question	VERB
cblr-1707	1464	5	what	what	PRON
cblr-1707	1464	6	relevant	relevant	ADJ
cblr-1707	1464	7	distinction	distinction	NOUN
cblr-1707	1464	8	exists	exist	VERB
cblr-1707	1464	9	between	between	ADP
cblr-1707	1464	10	such	such	DET
cblr-1707	1464	11	a	a	DET
cblr-1707	1464	12	“	"	PUNCT
cblr-1707	1464	13	prepaid	prepaid	ADJ
cblr-1707	1464	14	card	card	NOUN
cblr-1707	1464	15	,	,	PUNCT
cblr-1707	1464	16	”	"	PUNCT
cblr-1707	1464	17	on	on	ADP
cblr-1707	1464	18	the	the	DET
cblr-1707	1464	19	one	one	NUM
cblr-1707	1464	20	hand	hand	NOUN
cblr-1707	1464	21	,	,	PUNCT
cblr-1707	1464	22	and	and	CCONJ
cblr-1707	1464	23	a	a	DET
cblr-1707	1464	24	bank	bank	NOUN
cblr-1707	1464	25	deposit	deposit	NOUN
cblr-1707	1464	26	account	account	NOUN
cblr-1707	1464	27	accessed	access	VERB
cblr-1707	1464	28	via	via	ADP
cblr-1707	1464	29	debit	debit	NOUN
cblr-1707	1464	30	card	card	NOUN
cblr-1707	1464	31	that	that	PRON
cblr-1707	1464	32	lacks	lack	VERB
cblr-1707	1464	33	an	an	DET
cblr-1707	1464	34	overdraft	overdraft	NOUN
cblr-1707	1464	35	feature	feature	NOUN
cblr-1707	1464	36	,	,	PUNCT
cblr-1707	1464	37	on	on	ADP
cblr-1707	1464	38	the	the	DET
cblr-1707	1464	39	other	other	ADJ
cblr-1707	1464	40	.	.	PUNCT
cblr-1707	1465	1	unbanked	unbanked	ADJ
cblr-1707	1465	2	households	household	NOUN
cblr-1707	1465	3	that	that	PRON
cblr-1707	1465	4	use	use	VERB
cblr-1707	1465	5	prepaid	prepaid	ADJ
cblr-1707	1465	6	cards	card	NOUN
cblr-1707	1465	7	are	be	AUX
cblr-1707	1465	8	,	,	PUNCT
cblr-1707	1465	9	in	in	ADP
cblr-1707	1465	10	this	this	DET
cblr-1707	1465	11	sense	sense	NOUN
cblr-1707	1465	12	,	,	PUNCT
cblr-1707	1465	13	banked	bank	VERB
cblr-1707	1465	14	—	—	PUNCT
cblr-1707	1465	15	but	but	CCONJ
cblr-1707	1465	16	in	in	ADP
cblr-1707	1465	17	a	a	DET
cblr-1707	1465	18	high	high	ADJ
cblr-1707	1465	19	-	-	PUNCT
cblr-1707	1465	20	cost	cost	NOUN
cblr-1707	1465	21	way	way	NOUN
cblr-1707	1465	22	,	,	PUNCT
cblr-1707	1465	23	one	one	NUM
cblr-1707	1465	24	subject	subject	NOUN
cblr-1707	1465	25	to	to	ADP
cblr-1707	1465	26	elevated	elevated	ADJ
cblr-1707	1465	27	operational	operational	ADJ
cblr-1707	1465	28	risk.274	risk.274	NOUN
cblr-1707	1465	29	whether	whether	SCONJ
cblr-1707	1465	30	this	this	PRON
cblr-1707	1465	31	is	be	AUX
cblr-1707	1465	32	a	a	DET
cblr-1707	1465	33	good	good	ADJ
cblr-1707	1465	34	way	way	NOUN
cblr-1707	1465	35	of	of	ADP
cblr-1707	1465	36	banking	banking	NOUN
cblr-1707	1465	37	the	the	DET
cblr-1707	1465	38	unbanked	unbanked	PROPN
cblr-1707	1465	39	is	be	AUX
cblr-1707	1465	40	another	another	DET
cblr-1707	1465	41	question	question	NOUN
cblr-1707	1465	42	.	.	PUNCT
cblr-1707	1466	1	these	these	DET
cblr-1707	1466	2	products	product	NOUN
cblr-1707	1466	3	’	'	PUNCT
cblr-1707	1466	4	fee	fee	NOUN
cblr-1707	1466	5	structures	structure	NOUN
cblr-1707	1466	6	may	may	AUX
cblr-1707	1466	7	exploit	exploit	VERB
cblr-1707	1466	8	consumers	consumer	NOUN
cblr-1707	1466	9	’	'	PUNCT
cblr-1707	1466	10	behavioral	behavioral	ADJ
cblr-1707	1466	11	biases	bias	NOUN
cblr-1707	1466	12	.	.	PUNCT
cblr-1707	1467	1	but	but	CCONJ
cblr-1707	1467	2	even	even	ADV
cblr-1707	1467	3	if	if	SCONJ
cblr-1707	1467	4	prepaid	prepaid	ADJ
cblr-1707	1467	5	card	card	NOUN
cblr-1707	1467	6	fees	fee	NOUN
cblr-1707	1467	7	just	just	ADV
cblr-1707	1467	8	reflect	reflect	VERB
cblr-1707	1467	9	the	the	DET
cblr-1707	1467	10	cost	cost	NOUN
cblr-1707	1467	11	of	of	ADP
cblr-1707	1467	12	provision	provision	NOUN
cblr-1707	1467	13	,	,	PUNCT
cblr-1707	1467	14	we	we	PRON
cblr-1707	1467	15	can	can	AUX
cblr-1707	1467	16	fairly	fairly	ADV
cblr-1707	1467	17	ask	ask	VERB
cblr-1707	1467	18	whether	whether	SCONJ
cblr-1707	1467	19	cost	cost	NOUN
cblr-1707	1467	20	ought	ought	AUX
cblr-1707	1467	21	to	to	PART
cblr-1707	1467	22	determine	determine	VERB
cblr-1707	1467	23	how	how	SCONJ
cblr-1707	1467	24	this	this	DET
cblr-1707	1467	25	particular	particular	ADJ
cblr-1707	1467	26	resource	resource	NOUN
cblr-1707	1467	27	—	—	PUNCT
cblr-1707	1467	28	mainstream	mainstream	ADJ
cblr-1707	1467	29	payment	payment	NOUN
cblr-1707	1467	30	system	system	NOUN
cblr-1707	1467	31	access	access	NOUN
cblr-1707	1467	32	—	—	PUNCT
cblr-1707	1467	33	gets	get	AUX
cblr-1707	1467	34	allocated	allocate	VERB
cblr-1707	1467	35	.	.	PUNCT
cblr-1707	1468	1	the	the	DET
cblr-1707	1468	2	money	money	NOUN
cblr-1707	1468	3	paradigm	paradigm	NOUN
cblr-1707	1468	4	points	point	VERB
cblr-1707	1468	5	toward	toward	ADP
cblr-1707	1468	6	a	a	DET
cblr-1707	1468	7	different	different	ADJ
cblr-1707	1468	8	set	set	NOUN
cblr-1707	1468	9	of	of	ADP
cblr-1707	1468	10	distributive	distributive	ADJ
cblr-1707	1468	11	considerations	consideration	NOUN
cblr-1707	1468	12	.	.	PUNCT
cblr-1707	1469	1	c.	c.	NOUN
cblr-1707	1469	2	an	an	DET
cblr-1707	1469	3	infrastructure	infrastructure	NOUN
cblr-1707	1469	4	perspective	perspective	NOUN
cblr-1707	1469	5	as	as	ADP
cblr-1707	1469	6	in	in	ADP
cblr-1707	1469	7	parts	part	NOUN
cblr-1707	1469	8	ii	ii	PROPN
cblr-1707	1469	9	and	and	CCONJ
cblr-1707	1469	10	iii	iii	PROPN
cblr-1707	1469	11	,	,	PUNCT
cblr-1707	1469	12	we	we	PRON
cblr-1707	1469	13	can	can	AUX
cblr-1707	1469	14	organize	organize	VERB
cblr-1707	1469	15	our	our	PRON
cblr-1707	1469	16	thinking	thinking	NOUN
cblr-1707	1469	17	about	about	ADP
cblr-1707	1469	18	mainstream	mainstream	NOUN
cblr-1707	1469	19	payment	payment	NOUN
cblr-1707	1469	20	system	system	NOUN
cblr-1707	1469	21	access	access	NOUN
cblr-1707	1469	22	by	by	ADP
cblr-1707	1469	23	first	first	ADV
cblr-1707	1469	24	considering	consider	VERB
cblr-1707	1469	25	a	a	DET
cblr-1707	1469	26	270	270	NUM
cblr-1707	1469	27	see	see	NOUN
cblr-1707	1469	28	i	i	PRON
cblr-1707	1469	29	d.	d.	PROPN
cblr-1707	1469	30	at	at	ADP
cblr-1707	1469	31	83,940	83,940	NUM
cblr-1707	1469	32	.	.	PUNCT
cblr-1707	1470	1	271	271	NUM
cblr-1707	1470	2	see	see	VERB
cblr-1707	1470	3	i	i	PRON
cblr-1707	1470	4	d.	d.	PROPN
cblr-1707	1470	5	at	at	ADP
cblr-1707	1470	6	83,940	83,940	NUM
cblr-1707	1470	7	.	.	PUNCT
cblr-1707	1471	1	272	272	NUM
cblr-1707	1471	2	insurability	insurability	NOUN
cblr-1707	1471	3	of	of	ADP
cblr-1707	1471	4	funds	fund	NOUN
cblr-1707	1471	5	underlying	underlie	VERB
cblr-1707	1471	6	stored	store	VERB
cblr-1707	1471	7	value	value	NOUN
cblr-1707	1471	8	cards	card	NOUN
cblr-1707	1471	9	and	and	CCONJ
cblr-1707	1471	10	other	other	ADJ
cblr-1707	1471	11	nontraditional	nontraditional	ADJ
cblr-1707	1471	12	access	access	NOUN
cblr-1707	1471	13	mechanisms	mechanism	NOUN
cblr-1707	1471	14	,	,	PUNCT
cblr-1707	1471	15	73	73	NUM
cblr-1707	1471	16	fed	fed	PROPN
cblr-1707	1471	17	.	.	PUNCT
cblr-1707	1472	1	reg	reg	PROPN
cblr-1707	1472	2	.	.	PROPN
cblr-1707	1473	1	67,155	67,155	NUM
cblr-1707	1473	2	,	,	PUNCT
cblr-1707	1473	3	67,156	67,156	NUM
cblr-1707	1473	4	(	(	PUNCT
cblr-1707	1473	5	nov	nov	PROPN
cblr-1707	1473	6	.	.	PROPN
cblr-1707	1473	7	13	13	NUM
cblr-1707	1473	8	,	,	PUNCT
cblr-1707	1473	9	2008	2008	NUM
cblr-1707	1473	10	)	)	PUNCT
cblr-1707	1473	11	.	.	PUNCT
cblr-1707	1474	1	273	273	NUM
cblr-1707	1475	1	i	i	PRON
cblr-1707	1475	2	d.	d.	PROPN
cblr-1707	1475	3	at	at	ADP
cblr-1707	1475	4	67,157	67,157	NUM
cblr-1707	1475	5	.	.	PUNCT
cblr-1707	1476	1	274	274	NUM
cblr-1707	1476	2	see	see	VERB
cblr-1707	1476	3	regs	reg	NOUN
cblr-1707	1476	4	.	.	PUNCT
cblr-1707	1477	1	e	e	NOUN
cblr-1707	1477	2	and	and	CCONJ
cblr-1707	1477	3	z	z	PROPN
cblr-1707	1477	4	,	,	PUNCT
cblr-1707	1477	5	supra	supra	PROPN
cblr-1707	1477	6	note	note	NOUN
cblr-1707	1477	7	234	234	NUM
cblr-1707	1477	8	,	,	PUNCT
cblr-1707	1477	9	at	at	ADP
cblr-1707	1477	10	83,939	83,939	NUM
cblr-1707	1477	11	.	.	PUNCT
cblr-1707	1478	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	1478	2	no	no	NOUN
cblr-1707	1478	3	.	.	PUNCT
cblr-1707	1479	1	3:757	3:757	NUM
cblr-1707	1479	2	]	]	X
cblr-1707	1479	3	money	money	NOUN
cblr-1707	1479	4	as	as	ADP
cblr-1707	1479	5	infrastructure	infrastructure	NOUN
cblr-1707	1479	6	837	837	NUM
cblr-1707	1479	7	fully	fully	ADV
cblr-1707	1479	8	insourced	insource	VERB
cblr-1707	1479	9	system	system	NOUN
cblr-1707	1479	10	in	in	ADP
cblr-1707	1479	11	which	which	PRON
cblr-1707	1479	12	everyone	everyone	PRON
cblr-1707	1479	13	holds	hold	VERB
cblr-1707	1479	14	his	his	PRON
cblr-1707	1479	15	or	or	CCONJ
cblr-1707	1479	16	her	her	PRON
cblr-1707	1479	17	transaction	transaction	NOUN
cblr-1707	1479	18	account	account	VERB
cblr-1707	1479	19	directly	directly	ADV
cblr-1707	1479	20	with	with	ADP
cblr-1707	1479	21	the	the	DET
cblr-1707	1479	22	central	central	ADJ
cblr-1707	1479	23	bank	bank	NOUN
cblr-1707	1479	24	.	.	PUNCT
cblr-1707	1480	1	no	no	DET
cblr-1707	1480	2	private	private	ADJ
cblr-1707	1480	3	firm	firm	NOUN
cblr-1707	1480	4	offers	offer	VERB
cblr-1707	1480	5	account	account	NOUN
cblr-1707	1480	6	money	money	NOUN
cblr-1707	1480	7	or	or	CCONJ
cblr-1707	1480	8	close	close	ADJ
cblr-1707	1480	9	substitutes	substitute	NOUN
cblr-1707	1480	10	therefor	therefor	ADV
cblr-1707	1480	11	.	.	PUNCT
cblr-1707	1481	1	this	this	PRON
cblr-1707	1481	2	would	would	AUX
cblr-1707	1481	3	be	be	AUX
cblr-1707	1481	4	direct	direct	ADJ
cblr-1707	1481	5	government	government	NOUN
cblr-1707	1481	6	provisioning	provisioning	NOUN
cblr-1707	1481	7	of	of	ADP
cblr-1707	1481	8	(	(	PUNCT
cblr-1707	1481	9	dollardenominated	dollardenominated	ADJ
cblr-1707	1481	10	)	)	PUNCT
cblr-1707	1481	11	account	account	NOUN
cblr-1707	1481	12	money	money	NOUN
cblr-1707	1481	13	,	,	PUNCT
cblr-1707	1481	14	just	just	ADV
cblr-1707	1481	15	as	as	SCONJ
cblr-1707	1481	16	the	the	DET
cblr-1707	1481	17	u.s	u.s	PROPN
cblr-1707	1481	18	.	.	PROPN
cblr-1707	1481	19	government	government	NOUN
cblr-1707	1481	20	currently	currently	ADV
cblr-1707	1481	21	supplies	supply	VERB
cblr-1707	1481	22	physical	physical	ADJ
cblr-1707	1481	23	currency	currency	NOUN
cblr-1707	1481	24	as	as	ADP
cblr-1707	1481	25	a	a	DET
cblr-1707	1481	26	monopolist	monopolist	NOUN
cblr-1707	1481	27	.	.	PUNCT
cblr-1707	1482	1	this	this	PRON
cblr-1707	1482	2	is	be	AUX
cblr-1707	1482	3	the	the	DET
cblr-1707	1482	4	money	money	NOUN
cblr-1707	1482	5	paradigm	paradigm	NOUN
cblr-1707	1482	6	’s	’s	PART
cblr-1707	1482	7	institutional	institutional	ADJ
cblr-1707	1482	8	baseline	baseline	NOUN
cblr-1707	1482	9	.	.	PUNCT
cblr-1707	1483	1	how	how	SCONJ
cblr-1707	1483	2	might	might	AUX
cblr-1707	1483	3	the	the	DET
cblr-1707	1483	4	central	central	ADJ
cblr-1707	1483	5	bank	bank	NOUN
cblr-1707	1483	6	in	in	ADP
cblr-1707	1483	7	this	this	DET
cblr-1707	1483	8	insourced	insourced	ADJ
cblr-1707	1483	9	setting	setting	NOUN
cblr-1707	1483	10	determine	determine	NOUN
cblr-1707	1483	11	who	who	PRON
cblr-1707	1483	12	gets	get	VERB
cblr-1707	1483	13	access	access	NOUN
cblr-1707	1483	14	to	to	ADP
cblr-1707	1483	15	transaction	transaction	NOUN
cblr-1707	1483	16	accounts	account	NOUN
cblr-1707	1483	17	and	and	CCONJ
cblr-1707	1483	18	under	under	ADP
cblr-1707	1483	19	what	what	DET
cblr-1707	1483	20	terms	term	NOUN
cblr-1707	1483	21	?	?	PUNCT
cblr-1707	1484	1	the	the	DET
cblr-1707	1484	2	main	main	ADJ
cblr-1707	1484	3	issue	issue	NOUN
cblr-1707	1484	4	is	be	AUX
cblr-1707	1484	5	cost	cost	NOUN
cblr-1707	1484	6	.	.	PUNCT
cblr-1707	1485	1	every	every	DET
cblr-1707	1485	2	new	new	ADJ
cblr-1707	1485	3	account	account	NOUN
cblr-1707	1485	4	imposes	impose	VERB
cblr-1707	1485	5	some	some	DET
cblr-1707	1485	6	incremental	incremental	ADJ
cblr-1707	1485	7	cost	cost	NOUN
cblr-1707	1485	8	on	on	ADP
cblr-1707	1485	9	the	the	DET
cblr-1707	1485	10	central	central	ADJ
cblr-1707	1485	11	bank	bank	NOUN
cblr-1707	1485	12	.	.	PUNCT
cblr-1707	1486	1	it	it	PRON
cblr-1707	1486	2	must	must	AUX
cblr-1707	1486	3	supply	supply	VERB
cblr-1707	1486	4	account	account	NOUN
cblr-1707	1486	5	holders	holder	NOUN
cblr-1707	1486	6	with	with	ADP
cblr-1707	1486	7	some	some	DET
cblr-1707	1486	8	means	mean	NOUN
cblr-1707	1486	9	of	of	ADP
cblr-1707	1486	10	payment	payment	NOUN
cblr-1707	1486	11	,	,	PUNCT
cblr-1707	1486	12	such	such	ADJ
cblr-1707	1486	13	as	as	ADP
cblr-1707	1486	14	debit	debit	NOUN
cblr-1707	1486	15	cards	card	NOUN
cblr-1707	1486	16	or	or	CCONJ
cblr-1707	1486	17	checkbooks	checkbook	NOUN
cblr-1707	1486	18	.	.	PUNCT
cblr-1707	1487	1	they	they	PRON
cblr-1707	1487	2	presumably	presumably	ADV
cblr-1707	1487	3	will	will	AUX
cblr-1707	1487	4	receive	receive	VERB
cblr-1707	1487	5	periodic	periodic	ADJ
cblr-1707	1487	6	account	account	NOUN
cblr-1707	1487	7	statements	statement	NOUN
cblr-1707	1487	8	,	,	PUNCT
cblr-1707	1487	9	whether	whether	SCONJ
cblr-1707	1487	10	in	in	ADP
cblr-1707	1487	11	paper	paper	NOUN
cblr-1707	1487	12	form	form	NOUN
cblr-1707	1487	13	or	or	CCONJ
cblr-1707	1487	14	electronically	electronically	ADV
cblr-1707	1487	15	.	.	PUNCT
cblr-1707	1488	1	there	there	PRON
cblr-1707	1488	2	will	will	AUX
cblr-1707	1488	3	be	be	AUX
cblr-1707	1488	4	some	some	DET
cblr-1707	1488	5	incremental	incremental	ADJ
cblr-1707	1488	6	customer	customer	NOUN
cblr-1707	1488	7	service	service	NOUN
cblr-1707	1488	8	cost	cost	NOUN
cblr-1707	1488	9	.	.	PUNCT
cblr-1707	1489	1	the	the	DET
cblr-1707	1489	2	payment	payment	NOUN
cblr-1707	1489	3	system	system	NOUN
cblr-1707	1489	4	as	as	ADP
cblr-1707	1489	5	a	a	DET
cblr-1707	1489	6	whole	whole	NOUN
cblr-1707	1489	7	will	will	AUX
cblr-1707	1489	8	see	see	VERB
cblr-1707	1489	9	more	more	ADJ
cblr-1707	1489	10	traffic	traffic	NOUN
cblr-1707	1489	11	,	,	PUNCT
cblr-1707	1489	12	the	the	DET
cblr-1707	1489	13	cost	cost	NOUN
cblr-1707	1489	14	of	of	ADP
cblr-1707	1489	15	which	which	PRON
cblr-1707	1489	16	,	,	PUNCT
cblr-1707	1489	17	though	though	SCONJ
cblr-1707	1489	18	infinitesimal	infinitesimal	ADJ
cblr-1707	1489	19	at	at	ADP
cblr-1707	1489	20	the	the	DET
cblr-1707	1489	21	margin	margin	NOUN
cblr-1707	1489	22	for	for	ADP
cblr-1707	1489	23	each	each	DET
cblr-1707	1489	24	new	new	ADJ
cblr-1707	1489	25	account	account	NOUN
cblr-1707	1489	26	,	,	PUNCT
cblr-1707	1489	27	is	be	AUX
cblr-1707	1489	28	still	still	ADV
cblr-1707	1489	29	positive	positive	ADJ
cblr-1707	1489	30	.	.	PUNCT
cblr-1707	1490	1	so	so	ADV
cblr-1707	1490	2	long	long	ADV
cblr-1707	1490	3	as	as	SCONJ
cblr-1707	1490	4	the	the	DET
cblr-1707	1490	5	central	central	ADJ
cblr-1707	1490	6	bank	bank	NOUN
cblr-1707	1490	7	does	do	AUX
cblr-1707	1490	8	not	not	PART
cblr-1707	1490	9	offer	offer	VERB
cblr-1707	1490	10	overdraft	overdraft	NOUN
cblr-1707	1490	11	privileges	privilege	NOUN
cblr-1707	1490	12	,	,	PUNCT
cblr-1707	1490	13	none	none	NOUN
cblr-1707	1490	14	of	of	ADP
cblr-1707	1490	15	this	this	PRON
cblr-1707	1490	16	requires	require	VERB
cblr-1707	1490	17	any	any	DET
cblr-1707	1490	18	customer	customer	NOUN
cblr-1707	1490	19	credit	credit	NOUN
cblr-1707	1490	20	analysis	analysis	NOUN
cblr-1707	1490	21	by	by	ADP
cblr-1707	1490	22	the	the	DET
cblr-1707	1490	23	central	central	ADJ
cblr-1707	1490	24	bank	bank	NOUN
cblr-1707	1490	25	.	.	PUNCT
cblr-1707	1491	1	there	there	PRON
cblr-1707	1491	2	is	be	VERB
cblr-1707	1491	3	no	no	DET
cblr-1707	1491	4	necessary	necessary	ADJ
cblr-1707	1491	5	connection	connection	NOUN
cblr-1707	1491	6	between	between	ADP
cblr-1707	1491	7	the	the	DET
cblr-1707	1491	8	left	left	ADJ
cblr-1707	1491	9	side	side	NOUN
cblr-1707	1491	10	of	of	ADP
cblr-1707	1491	11	the	the	DET
cblr-1707	1491	12	central	central	PROPN
cblr-1707	1491	13	bank	bank	NOUN
cblr-1707	1491	14	’s	’s	PART
cblr-1707	1491	15	balance	balance	NOUN
cblr-1707	1491	16	sheet	sheet	NOUN
cblr-1707	1491	17	(	(	PUNCT
cblr-1707	1491	18	investment	investment	NOUN
cblr-1707	1491	19	assets	asset	NOUN
cblr-1707	1491	20	)	)	PUNCT
cblr-1707	1491	21	and	and	CCONJ
cblr-1707	1491	22	the	the	DET
cblr-1707	1491	23	right	right	ADJ
cblr-1707	1491	24	side	side	NOUN
cblr-1707	1491	25	(	(	PUNCT
cblr-1707	1491	26	transaction	transaction	NOUN
cblr-1707	1491	27	accounts	account	NOUN
cblr-1707	1491	28	)	)	PUNCT
cblr-1707	1491	29	.	.	PUNCT
cblr-1707	1492	1	consumers	consumer	NOUN
cblr-1707	1492	2	can	can	AUX
cblr-1707	1492	3	get	get	VERB
cblr-1707	1492	4	credit	credit	NOUN
cblr-1707	1492	5	,	,	PUNCT
cblr-1707	1492	6	including	include	VERB
cblr-1707	1492	7	point	point	NOUN
cblr-1707	1492	8	-	-	PUNCT
cblr-1707	1492	9	of	of	ADP
cblr-1707	1492	10	-	-	PUNCT
cblr-1707	1492	11	sale	sale	NOUN
cblr-1707	1492	12	revolving	revolve	VERB
cblr-1707	1492	13	credit	credit	NOUN
cblr-1707	1492	14	(	(	PUNCT
cblr-1707	1492	15	credit	credit	NOUN
cblr-1707	1492	16	cards	card	NOUN
cblr-1707	1492	17	)	)	PUNCT
cblr-1707	1492	18	,	,	PUNCT
cblr-1707	1492	19	from	from	ADP
cblr-1707	1492	20	third	third	ADJ
cblr-1707	1492	21	parties	party	NOUN
cblr-1707	1492	22	that	that	PRON
cblr-1707	1492	23	likewise	likewise	ADV
cblr-1707	1492	24	hold	hold	VERB
cblr-1707	1492	25	transaction	transaction	NOUN
cblr-1707	1492	26	accounts	account	NOUN
cblr-1707	1492	27	with	with	ADP
cblr-1707	1492	28	the	the	DET
cblr-1707	1492	29	central	central	ADJ
cblr-1707	1492	30	bank.275	bank.275	NOUN
cblr-1707	1492	31	the	the	DET
cblr-1707	1492	32	terms	term	NOUN
cblr-1707	1492	33	and	and	CCONJ
cblr-1707	1492	34	conditions	condition	NOUN
cblr-1707	1492	35	of	of	ADP
cblr-1707	1492	36	such	such	ADJ
cblr-1707	1492	37	private	private	ADJ
cblr-1707	1492	38	credit	credit	NOUN
cblr-1707	1492	39	arrangements	arrangement	NOUN
cblr-1707	1492	40	are	be	AUX
cblr-1707	1492	41	a	a	DET
cblr-1707	1492	42	matter	matter	NOUN
cblr-1707	1492	43	of	of	ADP
cblr-1707	1492	44	private	private	ADJ
cblr-1707	1492	45	contract	contract	NOUN
cblr-1707	1492	46	to	to	PART
cblr-1707	1492	47	which	which	PRON
cblr-1707	1492	48	the	the	DET
cblr-1707	1492	49	central	central	ADJ
cblr-1707	1492	50	bank	bank	NOUN
cblr-1707	1492	51	is	be	AUX
cblr-1707	1492	52	not	not	PART
cblr-1707	1492	53	a	a	DET
cblr-1707	1492	54	party	party	NOUN
cblr-1707	1492	55	.	.	PUNCT
cblr-1707	1493	1	the	the	DET
cblr-1707	1493	2	central	central	PROPN
cblr-1707	1493	3	bank	bank	PROPN
cblr-1707	1493	4	’s	’s	PART
cblr-1707	1493	5	payment	payment	NOUN
cblr-1707	1493	6	function	function	NOUN
cblr-1707	1493	7	here	here	ADV
cblr-1707	1493	8	consists	consist	VERB
cblr-1707	1493	9	of	of	ADP
cblr-1707	1493	10	mechanical	mechanical	ADJ
cblr-1707	1493	11	processing	processing	NOUN
cblr-1707	1493	12	,	,	PUNCT
cblr-1707	1493	13	not	not	PART
cblr-1707	1493	14	judgment	judgment	NOUN
cblr-1707	1493	15	-	-	PUNCT
cblr-1707	1493	16	intensive	intensive	ADJ
cblr-1707	1493	17	,	,	PUNCT
cblr-1707	1493	18	individualized	individualized	ADJ
cblr-1707	1493	19	credit	credit	NOUN
cblr-1707	1493	20	underwriting	underwriting	NOUN
cblr-1707	1493	21	.	.	PUNCT
cblr-1707	1494	1	upon	upon	SCONJ
cblr-1707	1494	2	receipt	receipt	NOUN
cblr-1707	1494	3	of	of	ADP
cblr-1707	1494	4	an	an	DET
cblr-1707	1494	5	authenticated	authenticate	VERB
cblr-1707	1494	6	instruction	instruction	NOUN
cblr-1707	1494	7	—	—	PUNCT
cblr-1707	1494	8	card	card	NOUN
cblr-1707	1494	9	swipe	swipe	NOUN
cblr-1707	1494	10	,	,	PUNCT
cblr-1707	1494	11	check	check	NOUN
cblr-1707	1494	12	,	,	PUNCT
cblr-1707	1494	13	automatic	automatic	ADJ
cblr-1707	1494	14	bill	bill	NOUN
cblr-1707	1494	15	payment	payment	NOUN
cblr-1707	1494	16	,	,	PUNCT
cblr-1707	1494	17	etc.—the	etc.—the	DET
cblr-1707	1494	18	central	central	ADJ
cblr-1707	1494	19	bank	bank	NOUN
cblr-1707	1494	20	debits	debit	VERB
cblr-1707	1494	21	the	the	DET
cblr-1707	1494	22	payer	payer	NOUN
cblr-1707	1494	23	’s	’s	PART
cblr-1707	1494	24	account	account	NOUN
cblr-1707	1494	25	and	and	CCONJ
cblr-1707	1494	26	credits	credit	VERB
cblr-1707	1494	27	the	the	DET
cblr-1707	1494	28	payee	payee	NOUN
cblr-1707	1494	29	’s	’s	PART
cblr-1707	1494	30	account	account	NOUN
cblr-1707	1494	31	.	.	PUNCT
cblr-1707	1495	1	even	even	ADV
cblr-1707	1495	2	if	if	SCONJ
cblr-1707	1495	3	credit	credit	NOUN
cblr-1707	1495	4	-	-	PUNCT
cblr-1707	1495	5	underwriting	underwriting	NOUN
cblr-1707	1495	6	costs	cost	NOUN
cblr-1707	1495	7	are	be	AUX
cblr-1707	1495	8	nonexistent	nonexistent	ADJ
cblr-1707	1495	9	,	,	PUNCT
cblr-1707	1495	10	the	the	DET
cblr-1707	1495	11	other	other	ADJ
cblr-1707	1495	12	costs	cost	NOUN
cblr-1707	1495	13	are	be	AUX
cblr-1707	1495	14	real	real	ADJ
cblr-1707	1495	15	and	and	CCONJ
cblr-1707	1495	16	must	must	AUX
cblr-1707	1495	17	be	be	AUX
cblr-1707	1495	18	covered	cover	VERB
cblr-1707	1495	19	.	.	PUNCT
cblr-1707	1496	1	one	one	NUM
cblr-1707	1496	2	possibility	possibility	NOUN
cblr-1707	1496	3	275	275	NUM
cblr-1707	1496	4	it	it	PRON
cblr-1707	1496	5	would	would	AUX
cblr-1707	1496	6	be	be	AUX
cblr-1707	1496	7	trivial	trivial	ADJ
cblr-1707	1496	8	to	to	PART
cblr-1707	1496	9	link	link	VERB
cblr-1707	1496	10	such	such	ADJ
cblr-1707	1496	11	privately	privately	ADV
cblr-1707	1496	12	-	-	PUNCT
cblr-1707	1496	13	supplied	supply	VERB
cblr-1707	1496	14	revolving	revolve	VERB
cblr-1707	1496	15	credit	credit	NOUN
cblr-1707	1496	16	facilities	facility	NOUN
cblr-1707	1496	17	to	to	ADP
cblr-1707	1496	18	transaction	transaction	NOUN
cblr-1707	1496	19	accounts	account	NOUN
cblr-1707	1496	20	,	,	PUNCT
cblr-1707	1496	21	such	such	ADJ
cblr-1707	1496	22	that	that	SCONJ
cblr-1707	1496	23	any	any	DET
cblr-1707	1496	24	overages	overage	NOUN
cblr-1707	1496	25	would	would	AUX
cblr-1707	1496	26	be	be	AUX
cblr-1707	1496	27	charged	charge	VERB
cblr-1707	1496	28	automatically	automatically	ADV
cblr-1707	1496	29	to	to	ADP
cblr-1707	1496	30	the	the	DET
cblr-1707	1496	31	credit	credit	NOUN
cblr-1707	1496	32	facility	facility	NOUN
cblr-1707	1496	33	.	.	PUNCT
cblr-1707	1497	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	1497	2	838	838	NUM
cblr-1707	1497	3	columbia	columbia	PROPN
cblr-1707	1497	4	business	business	NOUN
cblr-1707	1497	5	law	law	NOUN
cblr-1707	1497	6	review	review	NOUN
cblr-1707	1497	7	[	[	X
cblr-1707	1497	8	vol	vol	NOUN
cblr-1707	1497	9	.	.	NOUN
cblr-1707	1497	10	2018	2018	NUM
cblr-1707	1497	11	would	would	AUX
cblr-1707	1497	12	be	be	AUX
cblr-1707	1497	13	to	to	PART
cblr-1707	1497	14	charge	charge	VERB
cblr-1707	1497	15	these	these	DET
cblr-1707	1497	16	costs	cost	NOUN
cblr-1707	1497	17	directly	directly	ADV
cblr-1707	1497	18	to	to	ADP
cblr-1707	1497	19	users	user	NOUN
cblr-1707	1497	20	.	.	PUNCT
cblr-1707	1498	1	the	the	DET
cblr-1707	1498	2	central	central	ADJ
cblr-1707	1498	3	bank	bank	NOUN
cblr-1707	1498	4	could	could	AUX
cblr-1707	1498	5	offer	offer	VERB
cblr-1707	1498	6	transaction	transaction	NOUN
cblr-1707	1498	7	accounts	account	NOUN
cblr-1707	1498	8	only	only	ADV
cblr-1707	1498	9	to	to	ADP
cblr-1707	1498	10	those	those	DET
cblr-1707	1498	11	customers	customer	NOUN
cblr-1707	1498	12	who	who	PRON
cblr-1707	1498	13	fully	fully	ADV
cblr-1707	1498	14	covered	cover	VERB
cblr-1707	1498	15	their	their	PRON
cblr-1707	1498	16	own	own	ADJ
cblr-1707	1498	17	incremental	incremental	ADJ
cblr-1707	1498	18	costs	cost	NOUN
cblr-1707	1498	19	through	through	ADP
cblr-1707	1498	20	,	,	PUNCT
cblr-1707	1498	21	say	say	INTJ
cblr-1707	1498	22	,	,	PUNCT
cblr-1707	1498	23	periodic	periodic	ADJ
cblr-1707	1498	24	fees	fee	NOUN
cblr-1707	1498	25	.	.	PUNCT
cblr-1707	1499	1	this	this	PRON
cblr-1707	1499	2	would	would	AUX
cblr-1707	1499	3	be	be	AUX
cblr-1707	1499	4	an	an	DET
cblr-1707	1499	5	application	application	NOUN
cblr-1707	1499	6	of	of	ADP
cblr-1707	1499	7	marginal	marginal	ADJ
cblr-1707	1499	8	cost	cost	NOUN
cblr-1707	1499	9	pricing	pricing	NOUN
cblr-1707	1499	10	,	,	PUNCT
cblr-1707	1499	11	the	the	DET
cblr-1707	1499	12	competitive	competitive	ADJ
cblr-1707	1499	13	-	-	PUNCT
cblr-1707	1499	14	market	market	NOUN
cblr-1707	1499	15	benchmark	benchmark	NOUN
cblr-1707	1499	16	.	.	PUNCT
cblr-1707	1500	1	under	under	ADP
cblr-1707	1500	2	standard	standard	ADJ
cblr-1707	1500	3	economic	economic	ADJ
cblr-1707	1500	4	theory	theory	NOUN
cblr-1707	1500	5	,	,	PUNCT
cblr-1707	1500	6	prices	price	NOUN
cblr-1707	1500	7	in	in	ADP
cblr-1707	1500	8	competitive	competitive	ADJ
cblr-1707	1500	9	markets	market	NOUN
cblr-1707	1500	10	equilibrate	equilibrate	VERB
cblr-1707	1500	11	to	to	ADP
cblr-1707	1500	12	marginal	marginal	ADJ
cblr-1707	1500	13	cost.276	cost.276	ADJ
cblr-1707	1500	14	prominent	prominent	ADJ
cblr-1707	1500	15	experts	expert	NOUN
cblr-1707	1500	16	have	have	AUX
cblr-1707	1500	17	argued	argue	VERB
cblr-1707	1500	18	that	that	SCONJ
cblr-1707	1500	19	,	,	PUNCT
cblr-1707	1500	20	where	where	SCONJ
cblr-1707	1500	21	rate	rate	NOUN
cblr-1707	1500	22	regulation	regulation	NOUN
cblr-1707	1500	23	is	be	AUX
cblr-1707	1500	24	called	call	VERB
cblr-1707	1500	25	for	for	ADP
cblr-1707	1500	26	,	,	PUNCT
cblr-1707	1500	27	regulators	regulator	NOUN
cblr-1707	1500	28	should	should	AUX
cblr-1707	1500	29	aim	aim	VERB
cblr-1707	1500	30	for	for	ADP
cblr-1707	1500	31	marginal	marginal	ADJ
cblr-1707	1500	32	cost	cost	NOUN
cblr-1707	1500	33	pricing.277	pricing.277	NOUN
cblr-1707	1500	34	the	the	DET
cblr-1707	1500	35	idea	idea	NOUN
cblr-1707	1500	36	is	be	AUX
cblr-1707	1500	37	to	to	PART
cblr-1707	1500	38	mimic	mimic	VERB
cblr-1707	1500	39	the	the	DET
cblr-1707	1500	40	pricing	pricing	NOUN
cblr-1707	1500	41	structure	structure	NOUN
cblr-1707	1500	42	and	and	CCONJ
cblr-1707	1500	43	efficient	efficient	ADJ
cblr-1707	1500	44	resource	resource	NOUN
cblr-1707	1500	45	allocation	allocation	NOUN
cblr-1707	1500	46	that	that	PRON
cblr-1707	1500	47	would	would	AUX
cblr-1707	1500	48	prevail	prevail	VERB
cblr-1707	1500	49	under	under	ADP
cblr-1707	1500	50	perfect	perfect	ADJ
cblr-1707	1500	51	competition	competition	NOUN
cblr-1707	1500	52	.	.	PUNCT
cblr-1707	1501	1	the	the	DET
cblr-1707	1501	2	efficiency	efficiency	NOUN
cblr-1707	1501	3	of	of	ADP
cblr-1707	1501	4	marginal	marginal	ADJ
cblr-1707	1501	5	cost	cost	NOUN
cblr-1707	1501	6	pricing	pricing	NOUN
cblr-1707	1501	7	rests	rest	VERB
cblr-1707	1501	8	upon	upon	SCONJ
cblr-1707	1501	9	the	the	DET
cblr-1707	1501	10	absence	absence	NOUN
cblr-1707	1501	11	of	of	ADP
cblr-1707	1501	12	externalities	externality	NOUN
cblr-1707	1501	13	.	.	PUNCT
cblr-1707	1502	1	however	however	ADV
cblr-1707	1502	2	,	,	PUNCT
cblr-1707	1502	3	broad	broad	ADJ
cblr-1707	1502	4	access	access	NOUN
cblr-1707	1502	5	to	to	ADP
cblr-1707	1502	6	transaction	transaction	NOUN
cblr-1707	1502	7	accounts	account	NOUN
cblr-1707	1502	8	should	should	AUX
cblr-1707	1502	9	generate	generate	VERB
cblr-1707	1502	10	positive	positive	ADJ
cblr-1707	1502	11	spillovers	spillover	NOUN
cblr-1707	1502	12	in	in	ADP
cblr-1707	1502	13	at	at	ADV
cblr-1707	1502	14	least	least	ADV
cblr-1707	1502	15	two	two	NUM
cblr-1707	1502	16	ways	way	NOUN
cblr-1707	1502	17	.	.	PUNCT
cblr-1707	1503	1	first	first	ADV
cblr-1707	1503	2	,	,	PUNCT
cblr-1707	1503	3	the	the	DET
cblr-1707	1503	4	account	account	NOUN
cblr-1707	1503	5	-	-	PUNCT
cblr-1707	1503	6	money	money	NOUN
cblr-1707	1503	7	system	system	NOUN
cblr-1707	1503	8	has	have	VERB
cblr-1707	1503	9	positive	positive	ADJ
cblr-1707	1503	10	network	network	NOUN
cblr-1707	1503	11	externalities	externality	NOUN
cblr-1707	1503	12	,	,	PUNCT
cblr-1707	1503	13	meaning	mean	VERB
cblr-1707	1503	14	that	that	SCONJ
cblr-1707	1503	15	adding	add	VERB
cblr-1707	1503	16	new	new	ADJ
cblr-1707	1503	17	users	user	NOUN
cblr-1707	1503	18	makes	make	VERB
cblr-1707	1503	19	the	the	DET
cblr-1707	1503	20	system	system	NOUN
cblr-1707	1503	21	more	more	ADV
cblr-1707	1503	22	valuable	valuable	ADJ
cblr-1707	1503	23	to	to	ADP
cblr-1707	1503	24	existing	exist	VERB
cblr-1707	1503	25	users.278	users.278	NOUN
cblr-1707	1503	26	for	for	ADP
cblr-1707	1503	27	example	example	NOUN
cblr-1707	1503	28	,	,	PUNCT
cblr-1707	1503	29	employers	employer	NOUN
cblr-1707	1503	30	are	be	AUX
cblr-1707	1503	31	better	well	ADJ
cblr-1707	1503	32	off	off	ADP
cblr-1707	1503	33	when	when	SCONJ
cblr-1707	1503	34	their	their	PRON
cblr-1707	1503	35	employees	employee	NOUN
cblr-1707	1503	36	have	have	VERB
cblr-1707	1503	37	transaction	transaction	NOUN
cblr-1707	1503	38	accounts	account	NOUN
cblr-1707	1503	39	.	.	PUNCT
cblr-1707	1504	1	payroll	payroll	NOUN
cblr-1707	1504	2	can	can	AUX
cblr-1707	1504	3	then	then	ADV
cblr-1707	1504	4	be	be	AUX
cblr-1707	1504	5	processed	process	VERB
cblr-1707	1504	6	through	through	ADP
cblr-1707	1504	7	convenient	convenient	ADJ
cblr-1707	1504	8	direct	direct	ADJ
cblr-1707	1504	9	deposit	deposit	NOUN
cblr-1707	1504	10	rather	rather	ADV
cblr-1707	1504	11	than	than	ADP
cblr-1707	1504	12	by	by	ADP
cblr-1707	1504	13	cutting	cut	VERB
cblr-1707	1504	14	physical	physical	ADJ
cblr-1707	1504	15	checks	check	NOUN
cblr-1707	1504	16	.	.	PUNCT
cblr-1707	1505	1	similarly	similarly	ADV
cblr-1707	1505	2	,	,	PUNCT
cblr-1707	1505	3	some	some	DET
cblr-1707	1505	4	classes	class	NOUN
cblr-1707	1505	5	of	of	ADP
cblr-1707	1505	6	vendors	vendor	NOUN
cblr-1707	1505	7	benefit	benefit	VERB
cblr-1707	1505	8	when	when	SCONJ
cblr-1707	1505	9	their	their	PRON
cblr-1707	1505	10	customers	customer	NOUN
cblr-1707	1505	11	have	have	VERB
cblr-1707	1505	12	transaction	transaction	NOUN
cblr-1707	1505	13	accounts	account	NOUN
cblr-1707	1505	14	that	that	PRON
cblr-1707	1505	15	can	can	AUX
cblr-1707	1505	16	support	support	VERB
cblr-1707	1505	17	convenient	convenient	ADJ
cblr-1707	1505	18	auto	auto	NOUN
cblr-1707	1505	19	-	-	PUNCT
cblr-1707	1505	20	pay	pay	NOUN
cblr-1707	1505	21	relationships	relationship	NOUN
cblr-1707	1505	22	.	.	PUNCT
cblr-1707	1506	1	such	such	ADJ
cblr-1707	1506	2	arrangements	arrangement	NOUN
cblr-1707	1506	3	avoid	avoid	VERB
cblr-1707	1506	4	the	the	DET
cblr-1707	1506	5	cost	cost	NOUN
cblr-1707	1506	6	of	of	ADP
cblr-1707	1506	7	dealing	deal	VERB
cblr-1707	1506	8	with	with	ADP
cblr-1707	1506	9	physical	physical	ADJ
cblr-1707	1506	10	payment	payment	NOUN
cblr-1707	1506	11	media	medium	NOUN
cblr-1707	1506	12	while	while	SCONJ
cblr-1707	1506	13	also	also	ADV
cblr-1707	1506	14	improving	improve	VERB
cblr-1707	1506	15	payment	payment	NOUN
cblr-1707	1506	16	timeliness	timeliness	NOUN
cblr-1707	1506	17	and	and	CCONJ
cblr-1707	1506	18	regularity	regularity	NOUN
cblr-1707	1506	19	.	.	PUNCT
cblr-1707	1507	1	and	and	CCONJ
cblr-1707	1507	2	the	the	DET
cblr-1707	1507	3	government	government	NOUN
cblr-1707	1507	4	itself	itself	PRON
cblr-1707	1507	5	accrues	accrue	VERB
cblr-1707	1507	6	positive	positive	ADJ
cblr-1707	1507	7	network	network	NOUN
cblr-1707	1507	8	externalities	externality	NOUN
cblr-1707	1507	9	when	when	SCONJ
cblr-1707	1507	10	more	more	ADJ
cblr-1707	1507	11	residents	resident	NOUN
cblr-1707	1507	12	have	have	VERB
cblr-1707	1507	13	transaction	transaction	NOUN
cblr-1707	1507	14	accounts	account	NOUN
cblr-1707	1507	15	.	.	PUNCT
cblr-1707	1508	1	making	make	VERB
cblr-1707	1508	2	transfer	transfer	NOUN
cblr-1707	1508	3	payments	payment	NOUN
cblr-1707	1508	4	to	to	ADP
cblr-1707	1508	5	,	,	PUNCT
cblr-1707	1508	6	and	and	CCONJ
cblr-1707	1508	7	receiving	receive	VERB
cblr-1707	1508	8	tax	tax	NOUN
cblr-1707	1508	9	payments	payment	NOUN
cblr-1707	1508	10	from	from	ADP
cblr-1707	1508	11	,	,	PUNCT
cblr-1707	1508	12	unbanked	unbanked	ADJ
cblr-1707	1508	13	individuals	individual	NOUN
cblr-1707	1508	14	is	be	AUX
cblr-1707	1508	15	costly	costly	ADJ
cblr-1707	1508	16	and	and	CCONJ
cblr-1707	1508	17	inefficient	inefficient	ADJ
cblr-1707	1508	18	.	.	PUNCT
cblr-1707	1509	1	broader	broad	ADJ
cblr-1707	1509	2	access	access	NOUN
cblr-1707	1509	3	to	to	ADP
cblr-1707	1509	4	276	276	NUM
cblr-1707	1509	5	see	see	VERB
cblr-1707	1509	6	,	,	PUNCT
cblr-1707	1509	7	e.g.	e.g.	ADV
cblr-1707	1509	8	,	,	PUNCT
cblr-1707	1509	9	n.	n.	PROPN
cblr-1707	1509	10	gregory	gregory	PROPN
cblr-1707	1509	11	mankiw	mankiw	PROPN
cblr-1707	1509	12	,	,	PUNCT
cblr-1707	1509	13	principles	principle	NOUN
cblr-1707	1509	14	of	of	ADP
cblr-1707	1509	15	economics	economic	NOUN
cblr-1707	1509	16	312–13	312–13	NUM
cblr-1707	1509	17	(	(	PUNCT
cblr-1707	1509	18	7th	7th	ADJ
cblr-1707	1509	19	ed	ed	NOUN
cblr-1707	1509	20	.	.	PROPN
cblr-1707	1509	21	2014	2014	NUM
cblr-1707	1509	22	)	)	PUNCT
cblr-1707	1509	23	.	.	PUNCT
cblr-1707	1510	1	277	277	NUM
cblr-1707	1510	2	see	see	VERB
cblr-1707	1510	3	,	,	PUNCT
cblr-1707	1510	4	e.g.	e.g.	ADV
cblr-1707	1510	5	,	,	PUNCT
cblr-1707	1510	6	alfred	alfred	PROPN
cblr-1707	1510	7	e.	e.	PROPN
cblr-1707	1510	8	kahn	kahn	PROPN
cblr-1707	1510	9	,	,	PUNCT
cblr-1707	1510	10	the	the	DET
cblr-1707	1510	11	economics	economic	NOUN
cblr-1707	1510	12	of	of	ADP
cblr-1707	1510	13	regulation	regulation	NOUN
cblr-1707	1510	14	:	:	PUNCT
cblr-1707	1510	15	principles	principle	NOUN
cblr-1707	1510	16	and	and	CCONJ
cblr-1707	1510	17	institutions	institution	NOUN
cblr-1707	1510	18	63–86	63–86	NUM
cblr-1707	1510	19	(	(	PUNCT
cblr-1707	1510	20	1988	1988	NUM
cblr-1707	1510	21	)	)	PUNCT
cblr-1707	1510	22	.	.	PUNCT
cblr-1707	1511	1	278	278	NUM
cblr-1707	1511	2	for	for	ADP
cblr-1707	1511	3	general	general	ADJ
cblr-1707	1511	4	treatments	treatment	NOUN
cblr-1707	1511	5	of	of	ADP
cblr-1707	1511	6	network	network	NOUN
cblr-1707	1511	7	effects	effect	NOUN
cblr-1707	1511	8	that	that	PRON
cblr-1707	1511	9	discuss	discuss	VERB
cblr-1707	1511	10	legal	legal	ADJ
cblr-1707	1511	11	and	and	CCONJ
cblr-1707	1511	12	regulatory	regulatory	ADJ
cblr-1707	1511	13	implications	implication	NOUN
cblr-1707	1511	14	,	,	PUNCT
cblr-1707	1511	15	see	see	VERB
cblr-1707	1511	16	nicholas	nicholas	PROPN
cblr-1707	1511	17	economides	economide	NOUN
cblr-1707	1511	18	,	,	PUNCT
cblr-1707	1511	19	competition	competition	NOUN
cblr-1707	1511	20	policy	policy	NOUN
cblr-1707	1511	21	in	in	ADP
cblr-1707	1511	22	network	network	NOUN
cblr-1707	1511	23	industries	industry	NOUN
cblr-1707	1511	24	:	:	PUNCT
cblr-1707	1511	25	an	an	DET
cblr-1707	1511	26	introduction	introduction	NOUN
cblr-1707	1511	27	,	,	PUNCT
cblr-1707	1511	28	in	in	ADP
cblr-1707	1511	29	the	the	DET
cblr-1707	1511	30	new	new	ADJ
cblr-1707	1511	31	economy	economy	NOUN
cblr-1707	1511	32	and	and	CCONJ
cblr-1707	1511	33	beyond	beyond	ADP
cblr-1707	1511	34	:	:	PUNCT
cblr-1707	1511	35	past	past	ADJ
cblr-1707	1511	36	,	,	PUNCT
cblr-1707	1511	37	present	present	ADJ
cblr-1707	1511	38	and	and	CCONJ
cblr-1707	1511	39	future	future	ADJ
cblr-1707	1511	40	96	96	NUM
cblr-1707	1511	41	,	,	PUNCT
cblr-1707	1511	42	96–121	96–121	NUM
cblr-1707	1511	43	(	(	PUNCT
cblr-1707	1511	44	dennis	dennis	PROPN
cblr-1707	1511	45	w.	w.	PROPN
cblr-1707	1511	46	jansen	jansen	PROPN
cblr-1707	1511	47	ed	ed	PROPN
cblr-1707	1511	48	.	.	PROPN
cblr-1707	1511	49	,	,	PUNCT
cblr-1707	1511	50	2006	2006	NUM
cblr-1707	1511	51	)	)	PUNCT
cblr-1707	1511	52	;	;	PUNCT
cblr-1707	1511	53	mark	mark	PROPN
cblr-1707	1511	54	a.	a.	PROPN
cblr-1707	1511	55	lemley	lemley	PROPN
cblr-1707	1511	56	&	&	CCONJ
cblr-1707	1511	57	david	david	PROPN
cblr-1707	1511	58	mcgowan	mcgowan	PROPN
cblr-1707	1511	59	,	,	PUNCT
cblr-1707	1511	60	legal	legal	ADJ
cblr-1707	1511	61	implications	implication	NOUN
cblr-1707	1511	62	of	of	ADP
cblr-1707	1511	63	network	network	NOUN
cblr-1707	1511	64	effects	effect	NOUN
cblr-1707	1511	65	,	,	PUNCT
cblr-1707	1511	66	86	86	NUM
cblr-1707	1511	67	calif	calif	PROPN
cblr-1707	1511	68	.	.	PUNCT
cblr-1707	1512	1	l.	l.	PROPN
cblr-1707	1512	2	rev	rev	PROPN
cblr-1707	1512	3	.	.	PROPN
cblr-1707	1512	4	1	1	NUM
cblr-1707	1512	5	(	(	PUNCT
cblr-1707	1512	6	1998	1998	NUM
cblr-1707	1512	7	)	)	PUNCT
cblr-1707	1512	8	.	.	PUNCT
cblr-1707	1513	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	1513	2	no	no	NOUN
cblr-1707	1513	3	.	.	PUNCT
cblr-1707	1514	1	3:757	3:757	NUM
cblr-1707	1514	2	]	]	X
cblr-1707	1514	3	money	money	NOUN
cblr-1707	1514	4	as	as	SCONJ
cblr-1707	1514	5	infrastructure	infrastructure	NOUN
cblr-1707	1514	6	839	839	NUM
cblr-1707	1514	7	transaction	transaction	NOUN
cblr-1707	1514	8	accounts	account	NOUN
cblr-1707	1514	9	would	would	AUX
cblr-1707	1514	10	therefore	therefore	ADV
cblr-1707	1514	11	facilitate	facilitate	VERB
cblr-1707	1514	12	the	the	DET
cblr-1707	1514	13	administration	administration	NOUN
cblr-1707	1514	14	of	of	ADP
cblr-1707	1514	15	public	public	ADJ
cblr-1707	1514	16	services	service	NOUN
cblr-1707	1514	17	,	,	PUNCT
cblr-1707	1514	18	including	include	VERB
cblr-1707	1514	19	public	public	ADJ
cblr-1707	1514	20	assistance	assistance	NOUN
cblr-1707	1514	21	.	.	PUNCT
cblr-1707	1515	1	adding	add	VERB
cblr-1707	1515	2	new	new	ADJ
cblr-1707	1515	3	active	active	ADJ
cblr-1707	1515	4	members	member	NOUN
cblr-1707	1515	5	to	to	ADP
cblr-1707	1515	6	the	the	DET
cblr-1707	1515	7	account	account	NOUN
cblr-1707	1515	8	-	-	PUNCT
cblr-1707	1515	9	money	money	NOUN
cblr-1707	1515	10	system	system	NOUN
cblr-1707	1515	11	,	,	PUNCT
cblr-1707	1515	12	then	then	ADV
cblr-1707	1515	13	,	,	PUNCT
cblr-1707	1515	14	benefits	benefit	VERB
cblr-1707	1515	15	existing	exist	VERB
cblr-1707	1515	16	network	network	NOUN
cblr-1707	1515	17	users	user	NOUN
cblr-1707	1515	18	.	.	PUNCT
cblr-1707	1516	1	second	second	ADJ
cblr-1707	1516	2	and	and	CCONJ
cblr-1707	1516	3	more	more	ADV
cblr-1707	1516	4	broadly	broadly	ADV
cblr-1707	1516	5	,	,	PUNCT
cblr-1707	1516	6	the	the	DET
cblr-1707	1516	7	system	system	NOUN
cblr-1707	1516	8	of	of	ADP
cblr-1707	1516	9	money	money	NOUN
cblr-1707	1516	10	and	and	CCONJ
cblr-1707	1516	11	payments	payment	NOUN
cblr-1707	1516	12	is	be	AUX
cblr-1707	1516	13	integral	integral	ADJ
cblr-1707	1516	14	to	to	ADP
cblr-1707	1516	15	commercial	commercial	ADJ
cblr-1707	1516	16	life	life	NOUN
cblr-1707	1516	17	—	—	PUNCT
cblr-1707	1516	18	it	it	PRON
cblr-1707	1516	19	comes	come	VERB
cblr-1707	1516	20	into	into	ADP
cblr-1707	1516	21	play	play	NOUN
cblr-1707	1516	22	in	in	ADP
cblr-1707	1516	23	practically	practically	ADV
cblr-1707	1516	24	every	every	PRON
cblr-1707	1516	25	commercial	commercial	ADJ
cblr-1707	1516	26	transaction	transaction	NOUN
cblr-1707	1516	27	—	—	PUNCT
cblr-1707	1516	28	and	and	CCONJ
cblr-1707	1516	29	commerce	commerce	NOUN
cblr-1707	1516	30	itself	itself	PRON
cblr-1707	1516	31	is	be	AUX
cblr-1707	1516	32	a	a	DET
cblr-1707	1516	33	spillover	spillover	NOUN
cblr-1707	1516	34	-	-	PUNCT
cblr-1707	1516	35	rich	rich	ADJ
cblr-1707	1516	36	activity	activity	NOUN
cblr-1707	1516	37	.	.	PUNCT
cblr-1707	1517	1	“	"	PUNCT
cblr-1707	1517	2	the	the	DET
cblr-1707	1517	3	positive	positive	ADJ
cblr-1707	1517	4	externalities	externality	NOUN
cblr-1707	1517	5	[	[	X
cblr-1707	1517	6	arising	arise	VERB
cblr-1707	1517	7	from	from	ADP
cblr-1707	1517	8	voluntary	voluntary	ADJ
cblr-1707	1517	9	association	association	NOUN
cblr-1707	1517	10	and	and	CCONJ
cblr-1707	1517	11	trade	trade	NOUN
cblr-1707	1517	12	]	]	PUNCT
cblr-1707	1517	13	are	be	AUX
cblr-1707	1517	14	often	often	ADV
cblr-1707	1517	15	ignored	ignore	VERB
cblr-1707	1517	16	,	,	PUNCT
cblr-1707	1517	17	”	"	PUNCT
cblr-1707	1517	18	writes	write	VERB
cblr-1707	1517	19	richard	richard	PROPN
cblr-1707	1517	20	epstein.279	epstein.279	PROPN
cblr-1707	1517	21	but	but	CCONJ
cblr-1707	1517	22	in	in	ADP
cblr-1707	1517	23	reality	reality	NOUN
cblr-1707	1517	24	“	"	PUNCT
cblr-1707	1517	25	[	[	X
cblr-1707	1517	26	t]he	t]he	ADV
cblr-1707	1517	27	successful	successful	ADJ
cblr-1707	1517	28	conclusion	conclusion	NOUN
cblr-1707	1517	29	of	of	ADP
cblr-1707	1517	30	any	any	DET
cblr-1707	1517	31	voluntary	voluntary	ADJ
cblr-1707	1517	32	transaction	transaction	NOUN
cblr-1707	1517	33	among	among	ADP
cblr-1707	1517	34	two	two	NUM
cblr-1707	1517	35	or	or	CCONJ
cblr-1707	1517	36	more	more	ADJ
cblr-1707	1517	37	people	people	NOUN
cblr-1707	1517	38	routinely	routinely	ADV
cblr-1707	1517	39	increases	increase	VERB
cblr-1707	1517	40	the	the	DET
cblr-1707	1517	41	opportunities	opportunity	NOUN
cblr-1707	1517	42	for	for	ADP
cblr-1707	1517	43	association	association	NOUN
cblr-1707	1517	44	and	and	CCONJ
cblr-1707	1517	45	trade	trade	NOUN
cblr-1707	1517	46	available	available	ADJ
cblr-1707	1517	47	to	to	ADP
cblr-1707	1517	48	everyone	everyone	PRON
cblr-1707	1517	49	else	else	ADV
cblr-1707	1517	50	.	.	PUNCT
cblr-1707	1518	1	”280	”280	NUM
cblr-1707	1518	2	writing	write	VERB
cblr-1707	1518	3	three	three	NUM
cblr-1707	1518	4	decades	decade	NOUN
cblr-1707	1518	5	earlier	early	ADV
cblr-1707	1518	6	,	,	PUNCT
cblr-1707	1518	7	carol	carol	PROPN
cblr-1707	1518	8	rose	rise	VERB
cblr-1707	1518	9	said	say	VERB
cblr-1707	1518	10	much	much	ADV
cblr-1707	1518	11	the	the	DET
cblr-1707	1518	12	same	same	ADJ
cblr-1707	1518	13	:	:	PUNCT
cblr-1707	1518	14	“	"	PUNCT
cblr-1707	1518	15	the	the	DET
cblr-1707	1518	16	more	more	ADJ
cblr-1707	1518	17	people	people	NOUN
cblr-1707	1518	18	who	who	PRON
cblr-1707	1518	19	engage	engage	VERB
cblr-1707	1518	20	in	in	ADP
cblr-1707	1518	21	trade	trade	NOUN
cblr-1707	1518	22	,	,	PUNCT
cblr-1707	1518	23	the	the	PRON
cblr-1707	1518	24	greater	great	ADJ
cblr-1707	1518	25	the	the	DET
cblr-1707	1518	26	opportunities	opportunity	NOUN
cblr-1707	1518	27	for	for	ADP
cblr-1707	1518	28	all	all	PRON
cblr-1707	1518	29	to	to	PART
cblr-1707	1518	30	make	make	VERB
cblr-1707	1518	31	valuable	valuable	ADJ
cblr-1707	1518	32	exchanges[.]”281	exchanges[.]”281	PROPN
cblr-1707	1518	33	whereas	whereas	SCONJ
cblr-1707	1518	34	epstein	epstein	PROPN
cblr-1707	1518	35	enlisted	enlist	VERB
cblr-1707	1518	36	positive	positive	ADJ
cblr-1707	1518	37	externalities	externality	NOUN
cblr-1707	1518	38	from	from	ADP
cblr-1707	1518	39	commerce	commerce	NOUN
cblr-1707	1518	40	to	to	PART
cblr-1707	1518	41	support	support	VERB
cblr-1707	1518	42	classical	classical	ADJ
cblr-1707	1518	43	liberal	liberal	ADJ
cblr-1707	1518	44	principles	principle	NOUN
cblr-1707	1518	45	of	of	ADP
cblr-1707	1518	46	freedom	freedom	NOUN
cblr-1707	1518	47	of	of	ADP
cblr-1707	1518	48	contract	contract	NOUN
cblr-1707	1518	49	and	and	CCONJ
cblr-1707	1518	50	association	association	NOUN
cblr-1707	1518	51	,	,	PUNCT
cblr-1707	1518	52	rose	rise	VERB
cblr-1707	1518	53	sought	seek	VERB
cblr-1707	1518	54	to	to	PART
cblr-1707	1518	55	shed	shed	VERB
cblr-1707	1518	56	light	light	NOUN
cblr-1707	1518	57	on	on	ADP
cblr-1707	1518	58	public	public	ADJ
cblr-1707	1518	59	property	property	NOUN
cblr-1707	1518	60	doctrines	doctrine	NOUN
cblr-1707	1518	61	:	:	PUNCT
cblr-1707	1518	62	through	through	ADP
cblr-1707	1518	63	ever	ever	ADV
cblr-1707	1518	64	-	-	PUNCT
cblr-1707	1518	65	expanding	expand	VERB
cblr-1707	1518	66	commerce	commerce	NOUN
cblr-1707	1518	67	,	,	PUNCT
cblr-1707	1518	68	the	the	DET
cblr-1707	1518	69	nation	nation	NOUN
cblr-1707	1518	70	becomes	become	VERB
cblr-1707	1518	71	ever	ever	ADV
cblr-1707	1518	72	-	-	PUNCT
cblr-1707	1518	73	wealthier	wealthier	NOUN
cblr-1707	1518	74	,	,	PUNCT
cblr-1707	1518	75	and	and	CCONJ
cblr-1707	1518	76	hence	hence	ADV
cblr-1707	1518	77	trade	trade	NOUN
cblr-1707	1518	78	and	and	CCONJ
cblr-1707	1518	79	commerce	commerce	NOUN
cblr-1707	1518	80	routes	route	NOUN
cblr-1707	1518	81	must	must	AUX
cblr-1707	1518	82	be	be	AUX
cblr-1707	1518	83	held	hold	VERB
cblr-1707	1518	84	open	open	ADJ
cblr-1707	1518	85	to	to	ADP
cblr-1707	1518	86	the	the	DET
cblr-1707	1518	87	public	public	NOUN
cblr-1707	1518	88	,	,	PUNCT
cblr-1707	1518	89	even	even	ADV
cblr-1707	1518	90	if	if	SCONJ
cblr-1707	1518	91	contrary	contrary	ADJ
cblr-1707	1518	92	to	to	ADP
cblr-1707	1518	93	private	private	ADJ
cblr-1707	1518	94	interest	interest	NOUN
cblr-1707	1518	95	.	.	PUNCT
cblr-1707	1518	96	.	.	PUNCT
cblr-1707	1518	97	.	.	PUNCT
cblr-1707	1518	98	.	.	PUNCT
cblr-1707	1518	99	.	.	PUNCT
cblr-1707	1519	1	the	the	DET
cblr-1707	1519	2	individuals	individual	NOUN
cblr-1707	1519	3	involved	involve	VERB
cblr-1707	1519	4	in	in	ADP
cblr-1707	1519	5	commerce	commerce	NOUN
cblr-1707	1519	6	help	help	VERB
cblr-1707	1519	7	themselves	themselves	PRON
cblr-1707	1519	8	,	,	PUNCT
cblr-1707	1519	9	but	but	CCONJ
cblr-1707	1519	10	they	they	PRON
cblr-1707	1519	11	help	help	VERB
cblr-1707	1519	12	others	other	NOUN
cblr-1707	1519	13	as	as	ADV
cblr-1707	1519	14	well	well	ADV
cblr-1707	1519	15	,	,	PUNCT
cblr-1707	1519	16	and	and	CCONJ
cblr-1707	1519	17	they	they	PRON
cblr-1707	1519	18	need	need	VERB
cblr-1707	1519	19	encouragement	encouragement	NOUN
cblr-1707	1519	20	to	to	PART
cblr-1707	1519	21	do	do	AUX
cblr-1707	1519	22	so	so	ADV
cblr-1707	1519	23	;	;	PUNCT
cblr-1707	1519	24	thus	thus	ADV
cblr-1707	1519	25	the	the	DET
cblr-1707	1519	26	cost	cost	NOUN
cblr-1707	1519	27	of	of	ADP
cblr-1707	1519	28	the	the	DET
cblr-1707	1519	29	locations	location	NOUN
cblr-1707	1519	30	necessary	necessary	ADJ
cblr-1707	1519	31	for	for	ADP
cblr-1707	1519	32	commerce	commerce	NOUN
cblr-1707	1519	33	—	—	PUNCT
cblr-1707	1519	34	particularly	particularly	ADV
cblr-1707	1519	35	transport	transport	NOUN
cblr-1707	1519	36	facilities	facility	NOUN
cblr-1707	1519	37	—	—	PUNCT
cblr-1707	1519	38	should	should	AUX
cblr-1707	1519	39	be	be	AUX
cblr-1707	1519	40	kept	keep	VERB
cblr-1707	1519	41	at	at	ADP
cblr-1707	1519	42	a	a	DET
cblr-1707	1519	43	minimum	minimum	NOUN
cblr-1707	1519	44	,	,	PUNCT
cblr-1707	1519	45	and	and	CCONJ
cblr-1707	1519	46	perhaps	perhaps	ADV
cblr-1707	1519	47	be	be	AUX
cblr-1707	1519	48	borne	bear	VERB
cblr-1707	1519	49	by	by	ADP
cblr-1707	1519	50	the	the	DET
cblr-1707	1519	51	organized	organized	ADJ
cblr-1707	1519	52	community	community	NOUN
cblr-1707	1519	53	at	at	ADP
cblr-1707	1519	54	common	common	ADJ
cblr-1707	1519	55	expense	expense	NOUN
cblr-1707	1519	56	.	.	PUNCT
cblr-1707	1520	1	nineteenth	nineteenth	ADJ
cblr-1707	1520	2	-	-	PUNCT
cblr-1707	1520	3	century	century	NOUN
cblr-1707	1520	4	doctrine	doctrine	NOUN
cblr-1707	1520	5	279	279	NUM
cblr-1707	1520	6	richard	richard	PROPN
cblr-1707	1520	7	epstein	epstein	PROPN
cblr-1707	1520	8	,	,	PUNCT
cblr-1707	1520	9	freedom	freedom	NOUN
cblr-1707	1520	10	of	of	ADP
cblr-1707	1520	11	association	association	NOUN
cblr-1707	1520	12	and	and	CCONJ
cblr-1707	1520	13	antidiscrimination	antidiscrimination	NOUN
cblr-1707	1520	14	law	law	NOUN
cblr-1707	1520	15	:	:	PUNCT
cblr-1707	1520	16	an	an	DET
cblr-1707	1520	17	imperfect	imperfect	ADJ
cblr-1707	1520	18	reconciliation	reconciliation	NOUN
cblr-1707	1520	19	,	,	PUNCT
cblr-1707	1520	20	l.	l.	PROPN
cblr-1707	1520	21	and	and	CCONJ
cblr-1707	1520	22	liberty	liberty	PROPN
cblr-1707	1520	23	(	(	PUNCT
cblr-1707	1520	24	jan	jan	PROPN
cblr-1707	1520	25	.	.	PROPN
cblr-1707	1520	26	2	2	NUM
cblr-1707	1520	27	,	,	PUNCT
cblr-1707	1520	28	2016	2016	NUM
cblr-1707	1520	29	)	)	PUNCT
cblr-1707	1520	30	,	,	PUNCT
cblr-1707	1520	31	lawliberty.org/liberty-forum/freedom-of-association-and-antidiscrimination	lawliberty.org/liberty-forum/freedom-of-association-and-antidiscrimination	NOUN
cblr-1707	1520	32	-law	-law	NOUN
cblr-1707	1520	33	-	-	PUNCT
cblr-1707	1520	34	an	an	DET
cblr-1707	1520	35	-	-	PUNCT
cblr-1707	1520	36	imperfect	imperfect	NOUN
cblr-1707	1520	37	-	-	PUNCT
cblr-1707	1520	38	reconciliation/	reconciliation/	NOUN
cblr-1707	1520	39	[	[	X
cblr-1707	1520	40	https://perma.cc/35pd-n73c	https://perma.cc/35pd-n73c	X
cblr-1707	1520	41	]	]	SYM
cblr-1707	1520	42	.	.	PUNCT
cblr-1707	1521	1	280	280	NUM
cblr-1707	1521	2	i	i	PROPN
cblr-1707	1521	3	d.	d.	NOUN
cblr-1707	1521	4	281	281	NUM
cblr-1707	1521	5	carol	carol	NOUN
cblr-1707	1521	6	m.	m.	NOUN
cblr-1707	1521	7	rose	rise	VERB
cblr-1707	1521	8	,	,	PUNCT
cblr-1707	1521	9	the	the	DET
cblr-1707	1521	10	comedy	comedy	NOUN
cblr-1707	1521	11	of	of	ADP
cblr-1707	1521	12	the	the	DET
cblr-1707	1521	13	commons	common	NOUN
cblr-1707	1521	14	:	:	PUNCT
cblr-1707	1521	15	commerce	commerce	NOUN
cblr-1707	1521	16	,	,	PUNCT
cblr-1707	1521	17	custom	custom	ADJ
cblr-1707	1521	18	,	,	PUNCT
cblr-1707	1521	19	and	and	CCONJ
cblr-1707	1521	20	inherently	inherently	ADV
cblr-1707	1521	21	public	public	ADJ
cblr-1707	1521	22	property	property	NOUN
cblr-1707	1521	23	,	,	PUNCT
cblr-1707	1521	24	53	53	NUM
cblr-1707	1521	25	u.	u.	NOUN
cblr-1707	1521	26	chi	chi	PROPN
cblr-1707	1521	27	.	.	PUNCT
cblr-1707	1522	1	l.	l.	PROPN
cblr-1707	1522	2	rev	rev	PROPN
cblr-1707	1522	3	.	.	PROPN
cblr-1707	1522	4	711	711	NUM
cblr-1707	1522	5	,	,	PUNCT
cblr-1707	1522	6	769–70	769–70	NUM
cblr-1707	1522	7	(	(	PUNCT
cblr-1707	1522	8	1986	1986	NUM
cblr-1707	1522	9	)	)	PUNCT
cblr-1707	1522	10	.	.	PUNCT
cblr-1707	1523	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	1523	2	840	840	NUM
cblr-1707	1523	3	columbia	columbia	PROPN
cblr-1707	1523	4	business	business	NOUN
cblr-1707	1523	5	law	law	PROPN
cblr-1707	1523	6	review	review	NOUN
cblr-1707	1523	7	[	[	X
cblr-1707	1523	8	vol	vol	NOUN
cblr-1707	1523	9	.	.	PUNCT
cblr-1707	1523	10	2018	2018	NUM
cblr-1707	1523	11	attempted	attempt	VERB
cblr-1707	1523	12	to	to	PART
cblr-1707	1523	13	maintain	maintain	VERB
cblr-1707	1523	14	public	public	ADJ
cblr-1707	1523	15	access	access	NOUN
cblr-1707	1523	16	to	to	ADP
cblr-1707	1523	17	these	these	DET
cblr-1707	1523	18	locations	location	NOUN
cblr-1707	1523	19	,	,	PUNCT
cblr-1707	1523	20	even	even	ADV
cblr-1707	1523	21	at	at	ADP
cblr-1707	1523	22	the	the	DET
cblr-1707	1523	23	expense	expense	NOUN
cblr-1707	1523	24	of	of	ADP
cblr-1707	1523	25	exclusive	exclusive	ADJ
cblr-1707	1523	26	ownership	ownership	NOUN
cblr-1707	1523	27	rights	right	NOUN
cblr-1707	1523	28	.	.	PUNCT
cblr-1707	1523	29	.	.	PUNCT
cblr-1707	1523	30	.	.	PUNCT
cblr-1707	1524	1	.	.	PUNCT
cblr-1707	1524	2	.	.	PUNCT
cblr-1707	1525	1	the	the	DET
cblr-1707	1525	2	protection	protection	NOUN
cblr-1707	1525	3	of	of	ADP
cblr-1707	1525	4	commerce	commerce	NOUN
cblr-1707	1525	5	was	be	AUX
cblr-1707	1525	6	clearly	clearly	ADV
cblr-1707	1525	7	the	the	DET
cblr-1707	1525	8	central	central	ADJ
cblr-1707	1525	9	object	object	NOUN
cblr-1707	1525	10	of	of	ADP
cblr-1707	1525	11	earlier	early	ADJ
cblr-1707	1525	12	“	"	PUNCT
cblr-1707	1525	13	inherently	inherently	ADV
cblr-1707	1525	14	public	public	ADJ
cblr-1707	1525	15	property	property	NOUN
cblr-1707	1525	16	”	"	PUNCT
cblr-1707	1525	17	doctrines	doctrine	NOUN
cblr-1707	1525	18	.	.	PUNCT
cblr-1707	1526	1	commerce	commerce	NOUN
cblr-1707	1526	2	,	,	PUNCT
cblr-1707	1526	3	of	of	ADP
cblr-1707	1526	4	all	all	DET
cblr-1707	1526	5	activities	activity	NOUN
cblr-1707	1526	6	,	,	PUNCT
cblr-1707	1526	7	is	be	AUX
cblr-1707	1526	8	ever	ever	ADV
cblr-1707	1526	9	more	more	ADV
cblr-1707	1526	10	valuable	valuable	ADJ
cblr-1707	1526	11	as	as	SCONJ
cblr-1707	1526	12	more	more	ADJ
cblr-1707	1526	13	participate.282	participate.282	PROPN
cblr-1707	1526	14	rose	rise	VERB
cblr-1707	1526	15	focused	focus	VERB
cblr-1707	1526	16	on	on	ADP
cblr-1707	1526	17	transport	transport	NOUN
cblr-1707	1526	18	facilities	facility	NOUN
cblr-1707	1526	19	(	(	PUNCT
cblr-1707	1526	20	roads	road	NOUN
cblr-1707	1526	21	and	and	CCONJ
cblr-1707	1526	22	waterways	waterway	NOUN
cblr-1707	1526	23	)	)	PUNCT
cblr-1707	1526	24	but	but	CCONJ
cblr-1707	1526	25	her	her	PRON
cblr-1707	1526	26	analysis	analysis	NOUN
cblr-1707	1526	27	applies	apply	VERB
cblr-1707	1526	28	with	with	ADP
cblr-1707	1526	29	equal	equal	ADJ
cblr-1707	1526	30	force	force	NOUN
cblr-1707	1526	31	to	to	ADP
cblr-1707	1526	32	the	the	DET
cblr-1707	1526	33	mainstream	mainstream	NOUN
cblr-1707	1526	34	payment	payment	NOUN
cblr-1707	1526	35	system	system	NOUN
cblr-1707	1526	36	.	.	PUNCT
cblr-1707	1527	1	if	if	SCONJ
cblr-1707	1527	2	spillovers	spillover	NOUN
cblr-1707	1527	3	are	be	AUX
cblr-1707	1527	4	present	present	ADJ
cblr-1707	1527	5	,	,	PUNCT
cblr-1707	1527	6	supplying	supply	VERB
cblr-1707	1527	7	transaction	transaction	NOUN
cblr-1707	1527	8	accounts	account	VERB
cblr-1707	1527	9	to	to	ADP
cblr-1707	1527	10	some	some	PRON
cblr-1707	1527	11	or	or	CCONJ
cblr-1707	1527	12	all	all	DET
cblr-1707	1527	13	users	user	NOUN
cblr-1707	1527	14	at	at	ADP
cblr-1707	1527	15	prices	price	NOUN
cblr-1707	1527	16	below	below	ADP
cblr-1707	1527	17	cost	cost	NOUN
cblr-1707	1527	18	may	may	AUX
cblr-1707	1527	19	be	be	AUX
cblr-1707	1527	20	efficiency	efficiency	NOUN
cblr-1707	1527	21	-	-	PUNCT
cblr-1707	1527	22	enhancing	enhance	VERB
cblr-1707	1527	23	.	.	PUNCT
cblr-1707	1528	1	so	so	ADV
cblr-1707	1528	2	,	,	PUNCT
cblr-1707	1528	3	in	in	ADP
cblr-1707	1528	4	the	the	DET
cblr-1707	1528	5	insourced	insourced	ADJ
cblr-1707	1528	6	setting	setting	NOUN
cblr-1707	1528	7	described	describe	VERB
cblr-1707	1528	8	above	above	ADV
cblr-1707	1528	9	,	,	PUNCT
cblr-1707	1528	10	the	the	DET
cblr-1707	1528	11	central	central	ADJ
cblr-1707	1528	12	bank	bank	NOUN
cblr-1707	1528	13	might	might	AUX
cblr-1707	1528	14	maximize	maximize	VERB
cblr-1707	1528	15	social	social	ADJ
cblr-1707	1528	16	welfare	welfare	NOUN
cblr-1707	1528	17	by	by	ADP
cblr-1707	1528	18	promoting	promote	VERB
cblr-1707	1528	19	broad	broad	ADJ
cblr-1707	1528	20	or	or	CCONJ
cblr-1707	1528	21	even	even	ADV
cblr-1707	1528	22	universal	universal	ADJ
cblr-1707	1528	23	access	access	NOUN
cblr-1707	1528	24	to	to	ADP
cblr-1707	1528	25	transaction	transaction	NOUN
cblr-1707	1528	26	accounts	account	NOUN
cblr-1707	1528	27	,	,	PUNCT
cblr-1707	1528	28	even	even	ADV
cblr-1707	1528	29	if	if	SCONJ
cblr-1707	1528	30	this	this	PRON
cblr-1707	1528	31	means	mean	VERB
cblr-1707	1528	32	furnishing	furnish	VERB
cblr-1707	1528	33	accounts	account	NOUN
cblr-1707	1528	34	to	to	ADP
cblr-1707	1528	35	some	some	PRON
cblr-1707	1528	36	or	or	CCONJ
cblr-1707	1528	37	all	all	DET
cblr-1707	1528	38	users	user	NOUN
cblr-1707	1528	39	at	at	ADP
cblr-1707	1528	40	prices	price	NOUN
cblr-1707	1528	41	below	below	ADP
cblr-1707	1528	42	marginal	marginal	ADJ
cblr-1707	1528	43	cost	cost	NOUN
cblr-1707	1528	44	.	.	PUNCT
cblr-1707	1529	1	the	the	DET
cblr-1707	1529	2	simplest	simple	ADJ
cblr-1707	1529	3	approach	approach	NOUN
cblr-1707	1529	4	would	would	AUX
cblr-1707	1529	5	be	be	AUX
cblr-1707	1529	6	to	to	PART
cblr-1707	1529	7	charge	charge	VERB
cblr-1707	1529	8	users	user	NOUN
cblr-1707	1529	9	nothing	nothing	PRON
cblr-1707	1529	10	at	at	ADV
cblr-1707	1529	11	all	all	ADV
cblr-1707	1529	12	.	.	PUNCT
cblr-1707	1530	1	transaction	transaction	NOUN
cblr-1707	1530	2	accounts	account	NOUN
cblr-1707	1530	3	could	could	AUX
cblr-1707	1530	4	be	be	AUX
cblr-1707	1530	5	offered	offer	VERB
cblr-1707	1530	6	for	for	ADP
cblr-1707	1530	7	free	free	ADJ
cblr-1707	1530	8	to	to	ADP
cblr-1707	1530	9	all	all	DET
cblr-1707	1530	10	comers	comer	NOUN
cblr-1707	1530	11	,	,	PUNCT
cblr-1707	1530	12	subject	subject	ADJ
cblr-1707	1530	13	to	to	ADP
cblr-1707	1530	14	any	any	DET
cblr-1707	1530	15	desired	desire	VERB
cblr-1707	1530	16	screening	screening	NOUN
cblr-1707	1530	17	for	for	ADP
cblr-1707	1530	18	law	law	NOUN
cblr-1707	1530	19	enforcement	enforcement	NOUN
cblr-1707	1530	20	and	and	CCONJ
cblr-1707	1530	21	national	national	ADJ
cblr-1707	1530	22	security	security	NOUN
cblr-1707	1530	23	objectives.283	objectives.283	NOUN
cblr-1707	1530	24	because	because	SCONJ
cblr-1707	1530	25	the	the	DET
cblr-1707	1530	26	mainstream	mainstream	NOUN
cblr-1707	1530	27	payment	payment	NOUN
cblr-1707	1530	28	system	system	NOUN
cblr-1707	1530	29	is	be	AUX
cblr-1707	1530	30	not	not	PART
cblr-1707	1530	31	depletable	depletable	ADJ
cblr-1707	1530	32	or	or	CCONJ
cblr-1707	1530	33	congestible	congestible	ADJ
cblr-1707	1530	34	,	,	PUNCT
cblr-1707	1530	35	“	"	PUNCT
cblr-1707	1530	36	commons”-type	commons”-type	NOUN
cblr-1707	1530	37	concerns	concern	NOUN
cblr-1707	1530	38	are	be	AUX
cblr-1707	1530	39	irrelevant	irrelevant	ADJ
cblr-1707	1530	40	.	.	PUNCT
cblr-1707	1531	1	these	these	PRON
cblr-1707	1531	2	are	be	AUX
cblr-1707	1531	3	ledger	ledger	NOUN
cblr-1707	1531	4	entries	entry	NOUN
cblr-1707	1531	5	,	,	PUNCT
cblr-1707	1531	6	not	not	PART
cblr-1707	1531	7	consumption	consumption	NOUN
cblr-1707	1531	8	goods	good	NOUN
cblr-1707	1531	9	,	,	PUNCT
cblr-1707	1531	10	and	and	CCONJ
cblr-1707	1531	11	there	there	PRON
cblr-1707	1531	12	is	be	VERB
cblr-1707	1531	13	no	no	DET
cblr-1707	1531	14	legitimate	legitimate	ADJ
cblr-1707	1531	15	reason	reason	NOUN
cblr-1707	1531	16	to	to	PART
cblr-1707	1531	17	worry	worry	VERB
cblr-1707	1531	18	about	about	ADP
cblr-1707	1531	19	“	"	PUNCT
cblr-1707	1531	20	excessive	excessive	ADJ
cblr-1707	1531	21	”	"	PUNCT
cblr-1707	1531	22	use	use	NOUN
cblr-1707	1531	23	.	.	PUNCT
cblr-1707	1532	1	in	in	ADP
cblr-1707	1532	2	microeconomic	microeconomic	ADJ
cblr-1707	1532	3	terms	term	NOUN
cblr-1707	1532	4	,	,	PUNCT
cblr-1707	1532	5	the	the	DET
cblr-1707	1532	6	mainstream	mainstream	NOUN
cblr-1707	1532	7	payment	payment	NOUN
cblr-1707	1532	8	system	system	NOUN
cblr-1707	1532	9	is	be	AUX
cblr-1707	1532	10	nonrival	nonrival	ADJ
cblr-1707	1532	11	.	.	PUNCT
cblr-1707	1533	1	public	public	ADJ
cblr-1707	1533	2	goods	good	NOUN
cblr-1707	1533	3	combine	combine	VERB
cblr-1707	1533	4	nonrivalry	nonrivalry	NOUN
cblr-1707	1533	5	with	with	ADP
cblr-1707	1533	6	non	non	ADJ
cblr-1707	1533	7	-	-	NOUN
cblr-1707	1533	8	excludability	excludability	NOUN
cblr-1707	1533	9	.	.	PUNCT
cblr-1707	1534	1	while	while	SCONJ
cblr-1707	1534	2	the	the	DET
cblr-1707	1534	3	mainstream	mainstream	NOUN
cblr-1707	1534	4	payment	payment	NOUN
cblr-1707	1534	5	system	system	NOUN
cblr-1707	1534	6	is	be	AUX
cblr-1707	1534	7	excludable	excludable	ADJ
cblr-1707	1534	8	,	,	PUNCT
cblr-1707	1534	9	it	it	PRON
cblr-1707	1534	10	does	do	AUX
cblr-1707	1534	11	not	not	PART
cblr-1707	1534	12	follow	follow	VERB
cblr-1707	1534	13	that	that	DET
cblr-1707	1534	14	exclusion	exclusion	NOUN
cblr-1707	1534	15	is	be	AUX
cblr-1707	1534	16	good	good	ADJ
cblr-1707	1534	17	public	public	ADJ
cblr-1707	1534	18	policy	policy	NOUN
cblr-1707	1534	19	.	.	PUNCT
cblr-1707	1535	1	account	account	NOUN
cblr-1707	1535	2	money	money	NOUN
cblr-1707	1535	3	could	could	AUX
cblr-1707	1535	4	instead	instead	ADV
cblr-1707	1535	5	function	function	VERB
cblr-1707	1535	6	like	like	ADP
cblr-1707	1535	7	paper	paper	NOUN
cblr-1707	1535	8	money	money	NOUN
cblr-1707	1535	9	:	:	PUNCT
cblr-1707	1535	10	an	an	DET
cblr-1707	1535	11	open	open	ADJ
cblr-1707	1535	12	-	-	PUNCT
cblr-1707	1535	13	access	access	NOUN
cblr-1707	1535	14	resource	resource	NOUN
cblr-1707	1535	15	with	with	ADP
cblr-1707	1535	16	costs	cost	NOUN
cblr-1707	1535	17	borne	bear	VERB
cblr-1707	1535	18	by	by	ADP
cblr-1707	1535	19	the	the	DET
cblr-1707	1535	20	public	public	NOUN
cblr-1707	1535	21	at	at	ADP
cblr-1707	1535	22	large	large	ADJ
cblr-1707	1535	23	.	.	PUNCT
cblr-1707	1536	1	in	in	ADP
cblr-1707	1536	2	the	the	DET
cblr-1707	1536	3	presence	presence	NOUN
cblr-1707	1536	4	of	of	ADP
cblr-1707	1536	5	spillovers	spillover	NOUN
cblr-1707	1536	6	,	,	PUNCT
cblr-1707	1536	7	this	this	DET
cblr-1707	1536	8	strategy	strategy	NOUN
cblr-1707	1536	9	may	may	AUX
cblr-1707	1536	10	very	very	ADV
cblr-1707	1536	11	well	well	ADV
cblr-1707	1536	12	maximize	maximize	VERB
cblr-1707	1536	13	efficiency	efficiency	NOUN
cblr-1707	1536	14	.	.	PUNCT
cblr-1707	1537	1	here	here	ADV
cblr-1707	1537	2	again	again	ADV
cblr-1707	1537	3	we	we	PRON
cblr-1707	1537	4	reach	reach	VERB
cblr-1707	1537	5	the	the	DET
cblr-1707	1537	6	crucial	crucial	ADJ
cblr-1707	1537	7	point	point	NOUN
cblr-1707	1537	8	:	:	PUNCT
cblr-1707	1537	9	nothing	nothing	PRON
cblr-1707	1537	10	about	about	ADP
cblr-1707	1537	11	this	this	DET
cblr-1707	1537	12	analysis	analysis	NOUN
cblr-1707	1537	13	changes	change	NOUN
cblr-1707	1537	14	when	when	SCONJ
cblr-1707	1537	15	the	the	DET
cblr-1707	1537	16	government	government	NOUN
cblr-1707	1537	17	elects	elect	VERB
cblr-1707	1537	18	to	to	PART
cblr-1707	1537	19	outsource	outsource	VERB
cblr-1707	1537	20	the	the	DET
cblr-1707	1537	21	provision	provision	NOUN
cblr-1707	1537	22	of	of	ADP
cblr-1707	1537	23	account	account	NOUN
cblr-1707	1537	24	-	-	PUNCT
cblr-1707	1537	25	money	money	NOUN
cblr-1707	1537	26	services	service	NOUN
cblr-1707	1537	27	.	.	PUNCT
cblr-1707	1538	1	the	the	DET
cblr-1707	1538	2	procurement	procurement	NOUN
cblr-1707	1538	3	contract	contract	NOUN
cblr-1707	1538	4	with	with	ADP
cblr-1707	1538	5	the	the	DET
cblr-1707	1538	6	government	government	NOUN
cblr-1707	1538	7	’s	’s	PART
cblr-1707	1538	8	“	"	PUNCT
cblr-1707	1538	9	franchisees	franchisee	NOUN
cblr-1707	1538	10	”	"	PUNCT
cblr-1707	1538	11	can	can	AUX
cblr-1707	1538	12	readily	readily	ADV
cblr-1707	1538	13	282	282	NUM
cblr-1707	1538	14	i	i	PRON
cblr-1707	1538	15	d.	d.	PROPN
cblr-1707	1538	16	at	at	ADP
cblr-1707	1538	17	770–74	770–74	NUM
cblr-1707	1538	18	.	.	PROPN
cblr-1707	1539	1	283	283	NUM
cblr-1707	1539	2	u.s	u.s	PROPN
cblr-1707	1539	3	.	.	PROPN
cblr-1707	1539	4	banks	bank	NOUN
cblr-1707	1539	5	are	be	AUX
cblr-1707	1539	6	required	require	VERB
cblr-1707	1539	7	to	to	PART
cblr-1707	1539	8	maintain	maintain	VERB
cblr-1707	1539	9	customer	customer	NOUN
cblr-1707	1539	10	identification	identification	NOUN
cblr-1707	1539	11	programs	program	NOUN
cblr-1707	1539	12	as	as	ADP
cblr-1707	1539	13	part	part	NOUN
cblr-1707	1539	14	of	of	ADP
cblr-1707	1539	15	their	their	PRON
cblr-1707	1539	16	bank	bank	NOUN
cblr-1707	1539	17	secrecy	secrecy	PROPN
cblr-1707	1539	18	act	act	PROPN
cblr-1707	1539	19	/	/	SYM
cblr-1707	1539	20	anti	anti	ADJ
cblr-1707	1539	21	-	-	ADJ
cblr-1707	1539	22	money	money	ADJ
cblr-1707	1539	23	laundering	launder	VERB
cblr-1707	1539	24	compliance	compliance	NOUN
cblr-1707	1539	25	programs	program	NOUN
cblr-1707	1539	26	.	.	PUNCT
cblr-1707	1540	1	see	see	VERB
cblr-1707	1540	2	31	31	NUM
cblr-1707	1540	3	u.s.c	u.s.c	ADJ
cblr-1707	1540	4	.	.	PUNCT
cblr-1707	1541	1	§	§	PROPN
cblr-1707	1541	2	5318(l	5318(l	PROPN
cblr-1707	1541	3	)	)	PUNCT
cblr-1707	1541	4	(	(	PUNCT
cblr-1707	1541	5	2012	2012	NUM
cblr-1707	1541	6	)	)	PUNCT
cblr-1707	1541	7	.	.	PUNCT
cblr-1707	1542	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	1542	2	no	no	NOUN
cblr-1707	1542	3	.	.	PUNCT
cblr-1707	1543	1	3:757	3:757	NUM
cblr-1707	1543	2	]	]	X
cblr-1707	1543	3	money	money	NOUN
cblr-1707	1543	4	as	as	SCONJ
cblr-1707	1543	5	infrastructure	infrastructure	NOUN
cblr-1707	1543	6	841	841	NUM
cblr-1707	1543	7	include	include	VERB
cblr-1707	1543	8	provisions	provision	NOUN
cblr-1707	1543	9	relating	relate	VERB
cblr-1707	1543	10	to	to	ADP
cblr-1707	1543	11	access	access	NOUN
cblr-1707	1543	12	.	.	PUNCT
cblr-1707	1544	1	the	the	DET
cblr-1707	1544	2	overall	overall	ADJ
cblr-1707	1544	3	regulatory	regulatory	ADJ
cblr-1707	1544	4	package	package	NOUN
cblr-1707	1544	5	must	must	AUX
cblr-1707	1544	6	be	be	AUX
cblr-1707	1544	7	attractive	attractive	ADJ
cblr-1707	1544	8	enough	enough	ADV
cblr-1707	1544	9	to	to	PART
cblr-1707	1544	10	attract	attract	VERB
cblr-1707	1544	11	franchisees	franchisee	NOUN
cblr-1707	1544	12	,	,	PUNCT
cblr-1707	1544	13	but	but	CCONJ
cblr-1707	1544	14	no	no	DET
cblr-1707	1544	15	particular	particular	ADJ
cblr-1707	1544	16	term	term	NOUN
cblr-1707	1544	17	of	of	ADP
cblr-1707	1544	18	the	the	DET
cblr-1707	1544	19	package	package	NOUN
cblr-1707	1544	20	is	be	AUX
cblr-1707	1544	21	dictated	dictate	VERB
cblr-1707	1544	22	by	by	ADP
cblr-1707	1544	23	the	the	DET
cblr-1707	1544	24	mere	mere	ADJ
cblr-1707	1544	25	fact	fact	NOUN
cblr-1707	1544	26	of	of	ADP
cblr-1707	1544	27	outsourcing	outsourcing	NOUN
cblr-1707	1544	28	.	.	PUNCT
cblr-1707	1545	1	if	if	SCONJ
cblr-1707	1545	2	universal	universal	ADJ
cblr-1707	1545	3	service	service	NOUN
cblr-1707	1545	4	promotes	promote	VERB
cblr-1707	1545	5	the	the	DET
cblr-1707	1545	6	public	public	ADJ
cblr-1707	1545	7	interest	interest	NOUN
cblr-1707	1545	8	,	,	PUNCT
cblr-1707	1545	9	the	the	DET
cblr-1707	1545	10	regulatory	regulatory	ADJ
cblr-1707	1545	11	compact	compact	NOUN
cblr-1707	1545	12	should	should	AUX
cblr-1707	1545	13	include	include	VERB
cblr-1707	1545	14	universal	universal	ADJ
cblr-1707	1545	15	service	service	NOUN
cblr-1707	1545	16	provisions	provision	NOUN
cblr-1707	1545	17	.	.	PUNCT
cblr-1707	1546	1	it	it	PRON
cblr-1707	1546	2	should	should	AUX
cblr-1707	1546	3	come	come	VERB
cblr-1707	1546	4	as	as	ADP
cblr-1707	1546	5	no	no	DET
cblr-1707	1546	6	surprise	surprise	NOUN
cblr-1707	1546	7	that	that	SCONJ
cblr-1707	1546	8	universal	universal	ADJ
cblr-1707	1546	9	service	service	NOUN
cblr-1707	1546	10	mandates	mandate	NOUN
cblr-1707	1546	11	have	have	AUX
cblr-1707	1546	12	long	long	ADV
cblr-1707	1546	13	been	be	AUX
cblr-1707	1546	14	a	a	DET
cblr-1707	1546	15	central	central	ADJ
cblr-1707	1546	16	part	part	NOUN
cblr-1707	1546	17	of	of	ADP
cblr-1707	1546	18	the	the	DET
cblr-1707	1546	19	regulatory	regulatory	ADJ
cblr-1707	1546	20	contract	contract	NOUN
cblr-1707	1546	21	in	in	ADP
cblr-1707	1546	22	u.s	u.s	PROPN
cblr-1707	1546	23	.	.	PROPN
cblr-1707	1546	24	infrastructure	infrastructure	PROPN
cblr-1707	1546	25	industries.284	industries.284	PROPN
cblr-1707	1546	26	today	today	NOUN
cblr-1707	1546	27	,	,	PUNCT
cblr-1707	1546	28	these	these	DET
cblr-1707	1546	29	mandates	mandate	NOUN
cblr-1707	1546	30	are	be	AUX
cblr-1707	1546	31	most	most	ADV
cblr-1707	1546	32	commonly	commonly	ADV
cblr-1707	1546	33	seen	see	VERB
cblr-1707	1546	34	in	in	ADP
cblr-1707	1546	35	local	local	ADJ
cblr-1707	1546	36	utility	utility	NOUN
cblr-1707	1546	37	-	-	PUNCT
cblr-1707	1546	38	type	type	NOUN
cblr-1707	1546	39	services	service	NOUN
cblr-1707	1546	40	.	.	PUNCT
cblr-1707	1547	1	electric	electric	ADJ
cblr-1707	1547	2	and	and	CCONJ
cblr-1707	1547	3	gas	gas	NOUN
cblr-1707	1547	4	utilities	utility	NOUN
cblr-1707	1547	5	generally	generally	ADV
cblr-1707	1547	6	must	must	AUX
cblr-1707	1547	7	adequately	adequately	ADV
cblr-1707	1547	8	serve	serve	VERB
cblr-1707	1547	9	all	all	DET
cblr-1707	1547	10	consumers	consumer	NOUN
cblr-1707	1547	11	within	within	ADP
cblr-1707	1547	12	their	their	PRON
cblr-1707	1547	13	franchise	franchise	NOUN
cblr-1707	1547	14	area	area	NOUN
cblr-1707	1547	15	—	—	PUNCT
cblr-1707	1547	16	even	even	ADV
cblr-1707	1547	17	if	if	SCONJ
cblr-1707	1547	18	this	this	PRON
cblr-1707	1547	19	requires	require	VERB
cblr-1707	1547	20	unprofitable	unprofitable	ADJ
cblr-1707	1547	21	investment	investment	NOUN
cblr-1707	1547	22	—	—	PUNCT
cblr-1707	1547	23	and	and	CCONJ
cblr-1707	1547	24	they	they	PRON
cblr-1707	1547	25	may	may	AUX
cblr-1707	1547	26	not	not	PART
cblr-1707	1547	27	charge	charge	VERB
cblr-1707	1547	28	higher	high	ADJ
cblr-1707	1547	29	prices	price	NOUN
cblr-1707	1547	30	to	to	ADP
cblr-1707	1547	31	more	more	ADV
cblr-1707	1547	32	remote	remote	ADJ
cblr-1707	1547	33	consumers.285	consumers.285	NOUN
cblr-1707	1547	34	this	this	PRON
cblr-1707	1547	35	is	be	AUX
cblr-1707	1547	36	a	a	DET
cblr-1707	1547	37	quid	quid	ADJ
cblr-1707	1547	38	pro	pro	X
cblr-1707	1547	39	quo	quo	NOUN
cblr-1707	1547	40	of	of	ADP
cblr-1707	1547	41	the	the	DET
cblr-1707	1547	42	franchise	franchise	NOUN
cblr-1707	1547	43	,	,	PUNCT
cblr-1707	1547	44	a	a	DET
cblr-1707	1547	45	term	term	NOUN
cblr-1707	1547	46	of	of	ADP
cblr-1707	1547	47	the	the	DET
cblr-1707	1547	48	overall	overall	ADJ
cblr-1707	1547	49	regulatory	regulatory	ADJ
cblr-1707	1547	50	bargain	bargain	NOUN
cblr-1707	1547	51	.	.	PUNCT
cblr-1707	1548	1	state	state	NOUN
cblr-1707	1548	2	regulators	regulator	NOUN
cblr-1707	1548	3	also	also	ADV
cblr-1707	1548	4	require	require	VERB
cblr-1707	1548	5	telephone	telephone	NOUN
cblr-1707	1548	6	companies	company	NOUN
cblr-1707	1548	7	to	to	PART
cblr-1707	1548	8	offer	offer	VERB
cblr-1707	1548	9	service	service	NOUN
cblr-1707	1548	10	at	at	ADP
cblr-1707	1548	11	uniform	uniform	ADJ
cblr-1707	1548	12	rates	rate	NOUN
cblr-1707	1548	13	to	to	ADP
cblr-1707	1548	14	all	all	DET
cblr-1707	1548	15	residential	residential	ADJ
cblr-1707	1548	16	subscribers	subscriber	NOUN
cblr-1707	1548	17	in	in	ADP
cblr-1707	1548	18	their	their	PRON
cblr-1707	1548	19	service	service	NOUN
cblr-1707	1548	20	areas	area	NOUN
cblr-1707	1548	21	,	,	PUNCT
cblr-1707	1548	22	regardless	regardless	ADV
cblr-1707	1548	23	of	of	ADP
cblr-1707	1548	24	the	the	DET
cblr-1707	1548	25	cost	cost	NOUN
cblr-1707	1548	26	of	of	ADP
cblr-1707	1548	27	serving	serve	VERB
cblr-1707	1548	28	hard	hard	ADJ
cblr-1707	1548	29	-	-	PUNCT
cblr-1707	1548	30	to	to	PART
cblr-1707	1548	31	-	-	PUNCT
cblr-1707	1548	32	reach	reach	VERB
cblr-1707	1548	33	customers.286	customers.286	VERB
cblr-1707	1548	34	in	in	ADP
cblr-1707	1548	35	these	these	DET
cblr-1707	1548	36	cases	case	NOUN
cblr-1707	1548	37	,	,	PUNCT
cblr-1707	1548	38	some	some	DET
cblr-1707	1548	39	consumers	consumer	NOUN
cblr-1707	1548	40	pay	pay	VERB
cblr-1707	1548	41	prices	price	NOUN
cblr-1707	1548	42	below	below	ADP
cblr-1707	1548	43	fully	fully	ADV
cblr-1707	1548	44	allocated	allocate	VERB
cblr-1707	1548	45	cost	cost	NOUN
cblr-1707	1548	46	,	,	PUNCT
cblr-1707	1548	47	promoting	promote	VERB
cblr-1707	1548	48	broad	broad	ADJ
cblr-1707	1548	49	access	access	NOUN
cblr-1707	1548	50	to	to	ADP
cblr-1707	1548	51	infrastructure	infrastructure	NOUN
cblr-1707	1548	52	services	service	NOUN
cblr-1707	1548	53	.	.	PUNCT
cblr-1707	1549	1	historically	historically	ADV
cblr-1707	1549	2	,	,	PUNCT
cblr-1707	1549	3	u.s	u.s	PROPN
cblr-1707	1549	4	.	.	PROPN
cblr-1707	1549	5	federal	federal	ADJ
cblr-1707	1549	6	regulators	regulator	NOUN
cblr-1707	1549	7	have	have	AUX
cblr-1707	1549	8	imposed	impose	VERB
cblr-1707	1549	9	universal	universal	ADJ
cblr-1707	1549	10	service	service	NOUN
cblr-1707	1549	11	mandates	mandate	NOUN
cblr-1707	1549	12	on	on	ADP
cblr-1707	1549	13	more	more	ADV
cblr-1707	1549	14	spatially	spatially	ADV
cblr-1707	1549	15	expansive	expansive	ADJ
cblr-1707	1549	16	,	,	PUNCT
cblr-1707	1549	17	state	state	NOUN
cblr-1707	1549	18	-	-	PUNCT
cblr-1707	1549	19	spanning	span	VERB
cblr-1707	1549	20	infrastructural	infrastructural	ADJ
cblr-1707	1549	21	systems	system	NOUN
cblr-1707	1549	22	.	.	PUNCT
cblr-1707	1550	1	these	these	DET
cblr-1707	1550	2	mandates	mandate	NOUN
cblr-1707	1550	3	were	be	AUX
cblr-1707	1550	4	largely	largely	ADV
cblr-1707	1550	5	eviscerated	eviscerate	VERB
cblr-1707	1550	6	in	in	ADP
cblr-1707	1550	7	the	the	DET
cblr-1707	1550	8	deregulatory	deregulatory	ADJ
cblr-1707	1550	9	wave	wave	NOUN
cblr-1707	1550	10	of	of	ADP
cblr-1707	1550	11	the	the	DET
cblr-1707	1550	12	late	late	ADJ
cblr-1707	1550	13	20th	20th	ADJ
cblr-1707	1550	14	century	century	NOUN
cblr-1707	1550	15	—	—	PUNCT
cblr-1707	1550	16	a	a	DET
cblr-1707	1550	17	dubious	dubious	ADJ
cblr-1707	1550	18	policy	policy	NOUN
cblr-1707	1550	19	development	development	NOUN
cblr-1707	1550	20	,	,	PUNCT
cblr-1707	1550	21	in	in	ADP
cblr-1707	1550	22	my	my	PRON
cblr-1707	1550	23	view	view	NOUN
cblr-1707	1550	24	—	—	PUNCT
cblr-1707	1550	25	but	but	CCONJ
cblr-1707	1550	26	a	a	DET
cblr-1707	1550	27	brief	brief	ADJ
cblr-1707	1550	28	tour	tour	NOUN
cblr-1707	1550	29	of	of	ADP
cblr-1707	1550	30	how	how	SCONJ
cblr-1707	1550	31	they	they	PRON
cblr-1707	1550	32	worked	work	VERB
cblr-1707	1550	33	is	be	AUX
cblr-1707	1550	34	useful	useful	ADJ
cblr-1707	1550	35	.	.	PUNCT
cblr-1707	1551	1	the	the	DET
cblr-1707	1551	2	original	original	ADJ
cblr-1707	1551	3	model	model	NOUN
cblr-1707	1551	4	,	,	PUNCT
cblr-1707	1551	5	and	and	CCONJ
cblr-1707	1551	6	one	one	NUM
cblr-1707	1551	7	in	in	ADP
cblr-1707	1551	8	which	which	PRON
cblr-1707	1551	9	universal	universal	ADJ
cblr-1707	1551	10	service	service	NOUN
cblr-1707	1551	11	remains	remain	VERB
cblr-1707	1551	12	operative	operative	ADJ
cblr-1707	1551	13	,	,	PUNCT
cblr-1707	1551	14	is	be	AUX
cblr-1707	1551	15	the	the	DET
cblr-1707	1551	16	postal	postal	ADJ
cblr-1707	1551	17	system	system	NOUN
cblr-1707	1551	18	.	.	PUNCT
cblr-1707	1552	1	this	this	PRON
cblr-1707	1552	2	is	be	AUX
cblr-1707	1552	3	a	a	DET
cblr-1707	1552	4	quintessential	quintessential	ADJ
cblr-1707	1552	5	“	"	PUNCT
cblr-1707	1552	6	insourced	insourced	ADJ
cblr-1707	1552	7	”	"	PUNCT
cblr-1707	1552	8	system	system	NOUN
cblr-1707	1552	9	,	,	PUNCT
cblr-1707	1552	10	but	but	CCONJ
cblr-1707	1552	11	it	it	PRON
cblr-1707	1552	12	is	be	AUX
cblr-1707	1552	13	nonetheless	nonetheless	ADV
cblr-1707	1552	14	instructive	instructive	ADJ
cblr-1707	1552	15	.	.	PUNCT
cblr-1707	1553	1	the	the	DET
cblr-1707	1553	2	landmark	landmark	PROPN
cblr-1707	1553	3	post	post	PROPN
cblr-1707	1553	4	office	office	PROPN
cblr-1707	1553	5	act	act	NOUN
cblr-1707	1553	6	of	of	ADP
cblr-1707	1553	7	284	284	NUM
cblr-1707	1553	8	this	this	DET
cblr-1707	1553	9	article	article	NOUN
cblr-1707	1553	10	uses	use	VERB
cblr-1707	1553	11	“	"	PUNCT
cblr-1707	1553	12	universal	universal	ADJ
cblr-1707	1553	13	service	service	NOUN
cblr-1707	1553	14	”	"	PUNCT
cblr-1707	1553	15	loosely	loosely	ADV
cblr-1707	1553	16	to	to	PART
cblr-1707	1553	17	refer	refer	VERB
cblr-1707	1553	18	to	to	ADP
cblr-1707	1553	19	any	any	DET
cblr-1707	1553	20	context	context	NOUN
cblr-1707	1553	21	in	in	ADP
cblr-1707	1553	22	which	which	PRON
cblr-1707	1553	23	regulated	regulate	VERB
cblr-1707	1553	24	firms	firm	NOUN
cblr-1707	1553	25	must	must	AUX
cblr-1707	1553	26	serve	serve	VERB
cblr-1707	1553	27	some	some	DET
cblr-1707	1553	28	classes	class	NOUN
cblr-1707	1553	29	of	of	ADP
cblr-1707	1553	30	customers	customer	NOUN
cblr-1707	1553	31	at	at	ADP
cblr-1707	1553	32	prices	price	NOUN
cblr-1707	1553	33	below	below	ADP
cblr-1707	1553	34	cost	cost	NOUN
cblr-1707	1553	35	,	,	PUNCT
cblr-1707	1553	36	in	in	ADP
cblr-1707	1553	37	order	order	NOUN
cblr-1707	1553	38	to	to	PART
cblr-1707	1553	39	promote	promote	VERB
cblr-1707	1553	40	broad	broad	ADJ
cblr-1707	1553	41	access	access	NOUN
cblr-1707	1553	42	.	.	PUNCT
cblr-1707	1554	1	285	285	NUM
cblr-1707	1554	2	see	see	VERB
cblr-1707	1554	3	,	,	PUNCT
cblr-1707	1554	4	e.g.	e.g.	ADV
cblr-1707	1554	5	,	,	PUNCT
cblr-1707	1554	6	pierce	pierce	PROPN
cblr-1707	1554	7	&	&	CCONJ
cblr-1707	1554	8	gellhorn	gellhorn	PROPN
cblr-1707	1554	9	,	,	PUNCT
cblr-1707	1554	10	supra	supra	ADJ
cblr-1707	1554	11	note	note	NOUN
cblr-1707	1554	12	136	136	NUM
cblr-1707	1554	13	,	,	PUNCT
cblr-1707	1554	14	at	at	ADP
cblr-1707	1554	15	217	217	NUM
cblr-1707	1554	16	.	.	PUNCT
cblr-1707	1555	1	286	286	NUM
cblr-1707	1555	2	peter	peter	PROPN
cblr-1707	1555	3	w.	w.	PROPN
cblr-1707	1555	4	huber	huber	PROPN
cblr-1707	1555	5	,	,	PUNCT
cblr-1707	1555	6	michael	michael	PROPN
cblr-1707	1555	7	k.	k.	PROPN
cblr-1707	1555	8	kellogg	kellogg	PROPN
cblr-1707	1555	9	&	&	CCONJ
cblr-1707	1555	10	john	john	PROPN
cblr-1707	1555	11	thorne	thorne	PROPN
cblr-1707	1555	12	,	,	PUNCT
cblr-1707	1555	13	federal	federal	ADJ
cblr-1707	1555	14	telecommunications	telecommunication	NOUN
cblr-1707	1555	15	law	law	NOUN
cblr-1707	1555	16	§	§	PROPN
cblr-1707	1555	17	2.1.1	2.1.1	NUM
cblr-1707	1555	18	(	(	PUNCT
cblr-1707	1555	19	2nd	2nd	ADJ
cblr-1707	1555	20	ed	ed	NOUN
cblr-1707	1555	21	.	.	PROPN
cblr-1707	1555	22	1999	1999	NUM
cblr-1707	1555	23	)	)	PUNCT
cblr-1707	1555	24	.	.	PUNCT
cblr-1707	1556	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	1556	2	842	842	NUM
cblr-1707	1556	3	columbia	columbia	PROPN
cblr-1707	1556	4	business	business	NOUN
cblr-1707	1556	5	law	law	PROPN
cblr-1707	1556	6	review	review	NOUN
cblr-1707	1556	7	[	[	X
cblr-1707	1556	8	vol	vol	NOUN
cblr-1707	1556	9	.	.	NOUN
cblr-1707	1556	10	2018	2018	NUM
cblr-1707	1556	11	1792287	1792287	NUM
cblr-1707	1556	12	established	establish	VERB
cblr-1707	1556	13	procedures	procedure	NOUN
cblr-1707	1556	14	to	to	PART
cblr-1707	1556	15	ensure	ensure	VERB
cblr-1707	1556	16	the	the	DET
cblr-1707	1556	17	rapid	rapid	ADJ
cblr-1707	1556	18	geographic	geographic	ADJ
cblr-1707	1556	19	expansion	expansion	NOUN
cblr-1707	1556	20	of	of	ADP
cblr-1707	1556	21	the	the	DET
cblr-1707	1556	22	postal	postal	ADJ
cblr-1707	1556	23	network	network	NOUN
cblr-1707	1556	24	,	,	PUNCT
cblr-1707	1556	25	including	include	VERB
cblr-1707	1556	26	routes	route	NOUN
cblr-1707	1556	27	that	that	PRON
cblr-1707	1556	28	“	"	PUNCT
cblr-1707	1556	29	could	could	AUX
cblr-1707	1556	30	not	not	PART
cblr-1707	1556	31	possibly	possibly	ADV
cblr-1707	1556	32	break	break	VERB
cblr-1707	1556	33	even	even	ADV
cblr-1707	1556	34	.	.	PUNCT
cblr-1707	1556	35	”288	”288	PUNCT
cblr-1707	1557	1	the	the	DET
cblr-1707	1557	2	act	act	NOUN
cblr-1707	1557	3	deliberately	deliberately	ADV
cblr-1707	1557	4	subsidized	subsidize	VERB
cblr-1707	1557	5	nonpaying	nonpaye	VERB
cblr-1707	1557	6	remote	remote	ADJ
cblr-1707	1557	7	areas	area	NOUN
cblr-1707	1557	8	,	,	PUNCT
cblr-1707	1557	9	particularly	particularly	ADV
cblr-1707	1557	10	in	in	ADP
cblr-1707	1557	11	the	the	DET
cblr-1707	1557	12	south	south	NOUN
cblr-1707	1557	13	and	and	CCONJ
cblr-1707	1557	14	west.289	west.289	X
cblr-1707	1557	15	this	this	DET
cblr-1707	1557	16	policy	policy	NOUN
cblr-1707	1557	17	has	have	AUX
cblr-1707	1557	18	continued	continue	VERB
cblr-1707	1557	19	without	without	ADP
cblr-1707	1557	20	interruption	interruption	NOUN
cblr-1707	1557	21	.	.	PUNCT
cblr-1707	1558	1	it	it	PRON
cblr-1707	1558	2	is	be	AUX
cblr-1707	1558	3	the	the	DET
cblr-1707	1558	4	“	"	PUNCT
cblr-1707	1558	5	post	post	ADJ
cblr-1707	1558	6	office	office	NOUN
cblr-1707	1558	7	principle	principle	NOUN
cblr-1707	1558	8	:	:	PUNCT
cblr-1707	1558	9	”	"	PUNCT
cblr-1707	1558	10	transferring	transfer	VERB
cblr-1707	1558	11	revenue	revenue	NOUN
cblr-1707	1558	12	from	from	ADP
cblr-1707	1558	13	populous	populous	ADJ
cblr-1707	1558	14	areas	area	NOUN
cblr-1707	1558	15	to	to	ADP
cblr-1707	1558	16	thinly	thinly	ADV
cblr-1707	1558	17	settled	settle	VERB
cblr-1707	1558	18	areas	area	NOUN
cblr-1707	1558	19	in	in	ADP
cblr-1707	1558	20	order	order	NOUN
cblr-1707	1558	21	to	to	PART
cblr-1707	1558	22	provide	provide	VERB
cblr-1707	1558	23	postal	postal	ADJ
cblr-1707	1558	24	services	service	NOUN
cblr-1707	1558	25	to	to	ADP
cblr-1707	1558	26	the	the	DET
cblr-1707	1558	27	entire	entire	ADJ
cblr-1707	1558	28	population.290	population.290	NOUN
cblr-1707	1558	29	since	since	SCONJ
cblr-1707	1558	30	1863	1863	NUM
cblr-1707	1558	31	,	,	PUNCT
cblr-1707	1558	32	all	all	DET
cblr-1707	1558	33	u.s	u.s	PROPN
cblr-1707	1558	34	.	.	PROPN
cblr-1707	1558	35	domestic	domestic	ADJ
cblr-1707	1558	36	letter	letter	NOUN
cblr-1707	1558	37	rates	rate	NOUN
cblr-1707	1558	38	have	have	AUX
cblr-1707	1558	39	been	be	AUX
cblr-1707	1558	40	uniform	uniform	ADJ
cblr-1707	1558	41	(	(	PUNCT
cblr-1707	1558	42	weight	weight	NOUN
cblr-1707	1558	43	-	-	PUNCT
cblr-1707	1558	44	based	base	VERB
cblr-1707	1558	45	)	)	PUNCT
cblr-1707	1558	46	irrespective	irrespective	ADV
cblr-1707	1558	47	of	of	ADP
cblr-1707	1558	48	distance	distance	NOUN
cblr-1707	1558	49	traveled.291	traveled.291	PROPN
cblr-1707	1558	50	this	this	PRON
cblr-1707	1558	51	is	be	AUX
cblr-1707	1558	52	a	a	DET
cblr-1707	1558	53	dramatic	dramatic	ADJ
cblr-1707	1558	54	departure	departure	NOUN
cblr-1707	1558	55	from	from	ADP
cblr-1707	1558	56	287	287	NUM
cblr-1707	1558	57	an	an	DET
cblr-1707	1558	58	act	act	NOUN
cblr-1707	1558	59	to	to	PART
cblr-1707	1558	60	establish	establish	VERB
cblr-1707	1558	61	the	the	DET
cblr-1707	1558	62	post	post	ADJ
cblr-1707	1558	63	-	-	ADJ
cblr-1707	1558	64	office	office	ADJ
cblr-1707	1558	65	and	and	CCONJ
cblr-1707	1558	66	post	post	ADJ
cblr-1707	1558	67	-	-	NOUN
cblr-1707	1558	68	roads	road	NOUN
cblr-1707	1558	69	within	within	ADP
cblr-1707	1558	70	the	the	DET
cblr-1707	1558	71	united	united	PROPN
cblr-1707	1558	72	states	states	PROPN
cblr-1707	1558	73	,	,	PUNCT
cblr-1707	1558	74	ch	ch	NOUN
cblr-1707	1558	75	.	.	PROPN
cblr-1707	1558	76	7	7	NUM
cblr-1707	1558	77	,	,	PUNCT
cblr-1707	1558	78	1	1	NUM
cblr-1707	1558	79	stat	stat	NOUN
cblr-1707	1558	80	.	.	PUNCT
cblr-1707	1559	1	232	232	NUM
cblr-1707	1559	2	(	(	PUNCT
cblr-1707	1559	3	1792	1792	NUM
cblr-1707	1559	4	)	)	PUNCT
cblr-1707	1559	5	.	.	PUNCT
cblr-1707	1560	1	288	288	NUM
cblr-1707	1560	2	richard	richard	PROPN
cblr-1707	1560	3	r.	r.	PROPN
cblr-1707	1560	4	john	john	PROPN
cblr-1707	1560	5	,	,	PUNCT
cblr-1707	1560	6	spreading	spread	VERB
cblr-1707	1560	7	the	the	DET
cblr-1707	1560	8	news	news	NOUN
cblr-1707	1560	9	:	:	PUNCT
cblr-1707	1560	10	the	the	DET
cblr-1707	1560	11	american	american	ADJ
cblr-1707	1560	12	postal	postal	ADJ
cblr-1707	1560	13	system	system	NOUN
cblr-1707	1560	14	from	from	ADP
cblr-1707	1560	15	franklin	franklin	PROPN
cblr-1707	1560	16	to	to	PART
cblr-1707	1560	17	morse	morse	VERB
cblr-1707	1560	18	49	49	NUM
cblr-1707	1560	19	(	(	PUNCT
cblr-1707	1560	20	1995	1995	NUM
cblr-1707	1560	21	)	)	PUNCT
cblr-1707	1560	22	(	(	PUNCT
cblr-1707	1560	23	ebook	ebook	NOUN
cblr-1707	1560	24	)	)	PUNCT
cblr-1707	1560	25	.	.	PUNCT
cblr-1707	1561	1	289	289	NUM
cblr-1707	1561	2	richard	richard	PROPN
cblr-1707	1561	3	r.	r.	PROPN
cblr-1707	1561	4	john	john	PROPN
cblr-1707	1561	5	,	,	PUNCT
cblr-1707	1561	6	george	george	PROPN
cblr-1707	1561	7	mason	mason	PROPN
cblr-1707	1561	8	univ	univ	PROPN
cblr-1707	1561	9	.	.	PROPN
cblr-1707	1561	10	,	,	PUNCT
cblr-1707	1561	11	history	history	NOUN
cblr-1707	1561	12	of	of	ADP
cblr-1707	1561	13	universal	universal	ADJ
cblr-1707	1561	14	service	service	NOUN
cblr-1707	1561	15	and	and	CCONJ
cblr-1707	1561	16	the	the	DET
cblr-1707	1561	17	postal	postal	ADJ
cblr-1707	1561	18	monopoly	monopoly	NOUN
cblr-1707	1561	19	21	21	NUM
cblr-1707	1561	20	(	(	PUNCT
cblr-1707	1561	21	nov	nov	PROPN
cblr-1707	1561	22	.	.	PROPN
cblr-1707	1561	23	2008	2008	NUM
cblr-1707	1561	24	)	)	PUNCT
cblr-1707	1561	25	.	.	PUNCT
cblr-1707	1562	1	http://mars.gmu.edu/bitstream/handle/1920/3477/appendix%20d.pdf?sequ	http://mars.gmu.edu/bitstream/handle/1920/3477/appendix%20d.pdf?sequ	AUX
cblr-1707	1562	2	ence=4&isallowed	ence=4&isallowe	VERB
cblr-1707	1562	3	=	=	NOUN
cblr-1707	1562	4	y/	y/	NOUN
cblr-1707	1563	1	[	[	X
cblr-1707	1563	2	https://perma.cc/vxr2-m2va	https://perma.cc/vxr2-m2va	ADJ
cblr-1707	1563	3	]	]	X
cblr-1707	1563	4	.	.	PUNCT
cblr-1707	1564	1	290	290	NUM
cblr-1707	1565	1	i	i	PRON
cblr-1707	1565	2	d.	d.	PROPN
cblr-1707	1565	3	at	at	ADP
cblr-1707	1565	4	13	13	NUM
cblr-1707	1565	5	.	.	PUNCT
cblr-1707	1566	1	another	another	DET
cblr-1707	1566	2	researcher	researcher	NOUN
cblr-1707	1566	3	has	have	AUX
cblr-1707	1566	4	observed	observe	VERB
cblr-1707	1566	5	that	that	SCONJ
cblr-1707	1566	6	,	,	PUNCT
cblr-1707	1566	7	in	in	ADP
cblr-1707	1566	8	contemplating	contemplate	VERB
cblr-1707	1566	9	postal	postal	ADJ
cblr-1707	1566	10	reform	reform	NOUN
cblr-1707	1566	11	in	in	ADP
cblr-1707	1566	12	the	the	DET
cblr-1707	1566	13	1840s	1840	NOUN
cblr-1707	1566	14	,	,	PUNCT
cblr-1707	1566	15	“	"	PUNCT
cblr-1707	1566	16	[	[	X
cblr-1707	1566	17	t]he	t]he	ADJ
cblr-1707	1566	18	congress	congress	PROPN
cblr-1707	1566	19	unanimously	unanimously	ADV
cblr-1707	1566	20	believed	believe	VERB
cblr-1707	1566	21	that	that	SCONJ
cblr-1707	1566	22	the	the	DET
cblr-1707	1566	23	government	government	NOUN
cblr-1707	1566	24	had	have	VERB
cblr-1707	1566	25	a	a	DET
cblr-1707	1566	26	duty	duty	NOUN
cblr-1707	1566	27	to	to	PART
cblr-1707	1566	28	provide	provide	VERB
cblr-1707	1566	29	postal	postal	ADJ
cblr-1707	1566	30	service	service	NOUN
cblr-1707	1566	31	to	to	ADP
cblr-1707	1566	32	non	non	ADJ
cblr-1707	1566	33	-	-	ADJ
cblr-1707	1566	34	paying	paying	ADJ
cblr-1707	1566	35	frontier	frontier	NOUN
cblr-1707	1566	36	and	and	CCONJ
cblr-1707	1566	37	rural	rural	ADJ
cblr-1707	1566	38	areas	area	NOUN
cblr-1707	1566	39	.	.	PUNCT
cblr-1707	1566	40	”	"	PUNCT
cblr-1707	1567	1	george	george	PROPN
cblr-1707	1567	2	l.	l.	PROPN
cblr-1707	1567	3	priest	priest	PROPN
cblr-1707	1567	4	,	,	PUNCT
cblr-1707	1567	5	the	the	DET
cblr-1707	1567	6	history	history	NOUN
cblr-1707	1567	7	of	of	ADP
cblr-1707	1567	8	the	the	DET
cblr-1707	1567	9	postal	postal	ADJ
cblr-1707	1567	10	monopoly	monopoly	NOUN
cblr-1707	1567	11	in	in	ADP
cblr-1707	1567	12	the	the	DET
cblr-1707	1567	13	united	united	PROPN
cblr-1707	1567	14	states	states	PROPN
cblr-1707	1567	15	,	,	PUNCT
cblr-1707	1567	16	18	18	NUM
cblr-1707	1567	17	j.l	j.l	PROPN
cblr-1707	1567	18	.	.	PROPN
cblr-1707	1567	19	&	&	CCONJ
cblr-1707	1567	20	econ	econ	PROPN
cblr-1707	1567	21	.	.	PUNCT
cblr-1707	1568	1	33	33	NUM
cblr-1707	1568	2	,	,	PUNCT
cblr-1707	1568	3	65	65	NUM
cblr-1707	1568	4	(	(	PUNCT
cblr-1707	1568	5	1975	1975	NUM
cblr-1707	1568	6	)	)	PUNCT
cblr-1707	1568	7	.	.	PUNCT
cblr-1707	1569	1	291	291	NUM
cblr-1707	1569	2	u.s	u.s	PROPN
cblr-1707	1569	3	.	.	PROPN
cblr-1707	1569	4	postal	postal	PROPN
cblr-1707	1569	5	serv	serv	PROPN
cblr-1707	1569	6	.	.	PUNCT
cblr-1707	1569	7	,	,	PUNCT
cblr-1707	1569	8	universal	universal	ADJ
cblr-1707	1569	9	service	service	NOUN
cblr-1707	1569	10	and	and	CCONJ
cblr-1707	1569	11	the	the	DET
cblr-1707	1569	12	postal	postal	ADJ
cblr-1707	1569	13	monopoly	monopoly	NOUN
cblr-1707	1569	14	:	:	PUNCT
cblr-1707	1569	15	a	a	DET
cblr-1707	1569	16	brief	brief	ADJ
cblr-1707	1569	17	history	history	NOUN
cblr-1707	1569	18	5	5	NUM
cblr-1707	1569	19	(	(	PUNCT
cblr-1707	1569	20	2008	2008	NUM
cblr-1707	1569	21	)	)	PUNCT
cblr-1707	1569	22	.	.	PUNCT
cblr-1707	1570	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	1570	2	no	no	NOUN
cblr-1707	1570	3	.	.	PUNCT
cblr-1707	1571	1	3:757	3:757	NUM
cblr-1707	1571	2	]	]	X
cblr-1707	1571	3	money	money	NOUN
cblr-1707	1571	4	as	as	ADP
cblr-1707	1571	5	infrastructure	infrastructure	NOUN
cblr-1707	1571	6	843	843	NUM
cblr-1707	1571	7	marginal	marginal	ADJ
cblr-1707	1571	8	cost	cost	NOUN
cblr-1707	1571	9	pricing	pricing	NOUN
cblr-1707	1571	10	.	.	PUNCT
cblr-1707	1572	1	modern	modern	ADJ
cblr-1707	1572	2	postal	postal	ADJ
cblr-1707	1572	3	legislation292	legislation292	PROPN
cblr-1707	1572	4	and	and	CCONJ
cblr-1707	1572	5	official	official	ADJ
cblr-1707	1572	6	pronouncements293	pronouncements293	PROPN
cblr-1707	1572	7	have	have	AUX
cblr-1707	1572	8	reaffirmed	reaffirm	VERB
cblr-1707	1572	9	these	these	DET
cblr-1707	1572	10	principles	principle	NOUN
cblr-1707	1572	11	.	.	PUNCT
cblr-1707	1573	1	u.s	u.s	PROPN
cblr-1707	1573	2	.	.	PROPN
cblr-1707	1573	3	telecommunications	telecommunication	NOUN
cblr-1707	1573	4	regulation	regulation	NOUN
cblr-1707	1573	5	was	be	AUX
cblr-1707	1573	6	influenced	influence	VERB
cblr-1707	1573	7	by	by	ADP
cblr-1707	1573	8	the	the	DET
cblr-1707	1573	9	postal	postal	ADJ
cblr-1707	1573	10	model	model	NOUN
cblr-1707	1573	11	.	.	PUNCT
cblr-1707	1574	1	in	in	ADP
cblr-1707	1574	2	1910	1910	NUM
cblr-1707	1574	3	—	—	PUNCT
cblr-1707	1574	4	the	the	DET
cblr-1707	1574	5	year	year	NOUN
cblr-1707	1574	6	that	that	PRON
cblr-1707	1574	7	congress	congress	PROPN
cblr-1707	1574	8	declared	declare	VERB
cblr-1707	1574	9	the	the	DET
cblr-1707	1574	10	telephone	telephone	NOUN
cblr-1707	1574	11	and	and	CCONJ
cblr-1707	1574	12	telegraph	telegraph	NOUN
cblr-1707	1574	13	systems	system	NOUN
cblr-1707	1574	14	“	"	PUNCT
cblr-1707	1574	15	common	common	ADJ
cblr-1707	1574	16	carriers	carrier	NOUN
cblr-1707	1574	17	”	"	PUNCT
cblr-1707	1574	18	and	and	CCONJ
cblr-1707	1574	19	placed	place	VERB
cblr-1707	1574	20	them	they	PRON
cblr-1707	1574	21	under	under	ADP
cblr-1707	1574	22	the	the	DET
cblr-1707	1574	23	interstate	interstate	PROPN
cblr-1707	1574	24	commerce	commerce	PROPN
cblr-1707	1574	25	commission	commission	PROPN
cblr-1707	1574	26	’s	’s	PART
cblr-1707	1574	27	(	(	PUNCT
cblr-1707	1574	28	“	"	PUNCT
cblr-1707	1574	29	icc	icc	PROPN
cblr-1707	1574	30	”	"	PUNCT
cblr-1707	1574	31	)	)	PUNCT
cblr-1707	1574	32	jurisdiction294	jurisdiction294	PROPN
cblr-1707	1574	33	—	—	PUNCT
cblr-1707	1574	34	at&t	at&t	PROPN
cblr-1707	1574	35	’s	’s	PART
cblr-1707	1574	36	leadership	leadership	NOUN
cblr-1707	1574	37	explicitly	explicitly	ADV
cblr-1707	1574	38	committed	commit	VERB
cblr-1707	1574	39	the	the	DET
cblr-1707	1574	40	company	company	NOUN
cblr-1707	1574	41	to	to	PART
cblr-1707	1574	42	universal	universal	PROPN
cblr-1707	1574	43	service.295	service.295	PROPN
cblr-1707	1574	44	regulators	regulator	NOUN
cblr-1707	1574	45	followed	follow	VERB
cblr-1707	1574	46	suit	suit	NOUN
cblr-1707	1574	47	.	.	PUNCT
cblr-1707	1575	1	in	in	ADP
cblr-1707	1575	2	the	the	DET
cblr-1707	1575	3	1920s	1920s	NUM
cblr-1707	1575	4	,	,	PUNCT
cblr-1707	1575	5	state	state	NOUN
cblr-1707	1575	6	public	public	ADJ
cblr-1707	1575	7	utility	utility	NOUN
cblr-1707	1575	8	commissions	commission	NOUN
cblr-1707	1575	9	adopted	adopt	VERB
cblr-1707	1575	10	statewide	statewide	ADJ
cblr-1707	1575	11	rate	rate	NOUN
cblr-1707	1575	12	averaging.296	averaging.296	NOUN
cblr-1707	1575	13	the	the	DET
cblr-1707	1575	14	resulting	result	VERB
cblr-1707	1575	15	crosssubsidies	crosssubsidie	NOUN
cblr-1707	1575	16	promoted	promote	VERB
cblr-1707	1575	17	residential	residential	ADJ
cblr-1707	1575	18	telephone	telephone	NOUN
cblr-1707	1575	19	service	service	NOUN
cblr-1707	1575	20	in	in	ADP
cblr-1707	1575	21	less	less	ADJ
cblr-1707	1575	22	292	292	NUM
cblr-1707	1575	23	see	see	VERB
cblr-1707	1575	24	postal	postal	ADJ
cblr-1707	1575	25	reorganization	reorganization	PROPN
cblr-1707	1575	26	act	act	PROPN
cblr-1707	1575	27	,	,	PUNCT
cblr-1707	1575	28	pub	pub	NOUN
cblr-1707	1575	29	.	.	PUNCT
cblr-1707	1576	1	l.	l.	PROPN
cblr-1707	1576	2	no	no	INTJ
cblr-1707	1576	3	.	.	PROPN
cblr-1707	1577	1	91	91	NUM
cblr-1707	1577	2	-	-	SYM
cblr-1707	1577	3	375	375	NUM
cblr-1707	1577	4	,	,	PUNCT
cblr-1707	1577	5	§	§	PROPN
cblr-1707	1577	6	101	101	NUM
cblr-1707	1577	7	,	,	PUNCT
cblr-1707	1577	8	84	84	NUM
cblr-1707	1577	9	stat	stat	NOUN
cblr-1707	1577	10	.	.	PUNCT
cblr-1707	1578	1	at	at	ADP
cblr-1707	1578	2	719	719	NUM
cblr-1707	1578	3	(	(	PUNCT
cblr-1707	1578	4	codified	codify	VERB
cblr-1707	1578	5	at	at	ADP
cblr-1707	1578	6	39	39	NUM
cblr-1707	1578	7	u.s.c	u.s.c	ADJ
cblr-1707	1578	8	.	.	PUNCT
cblr-1707	1579	1	§	§	PROPN
cblr-1707	1579	2	101(a	101(a	PROPN
cblr-1707	1579	3	)	)	PUNCT
cblr-1707	1579	4	)	)	PUNCT
cblr-1707	1580	1	(	(	PUNCT
cblr-1707	1580	2	providing	provide	VERB
cblr-1707	1580	3	that	that	SCONJ
cblr-1707	1580	4	the	the	DET
cblr-1707	1580	5	postal	postal	ADJ
cblr-1707	1580	6	system	system	NOUN
cblr-1707	1580	7	“	"	PUNCT
cblr-1707	1580	8	shall	shall	AUX
cblr-1707	1580	9	be	be	AUX
cblr-1707	1580	10	operated	operate	VERB
cblr-1707	1580	11	as	as	ADP
cblr-1707	1580	12	a	a	DET
cblr-1707	1580	13	basic	basic	ADJ
cblr-1707	1580	14	and	and	CCONJ
cblr-1707	1580	15	fundamental	fundamental	ADJ
cblr-1707	1580	16	service	service	NOUN
cblr-1707	1580	17	provided	provide	VERB
cblr-1707	1580	18	to	to	ADP
cblr-1707	1580	19	the	the	DET
cblr-1707	1580	20	people	people	NOUN
cblr-1707	1580	21	by	by	ADP
cblr-1707	1580	22	the	the	DET
cblr-1707	1580	23	government	government	NOUN
cblr-1707	1580	24	of	of	ADP
cblr-1707	1580	25	the	the	DET
cblr-1707	1580	26	united	united	PROPN
cblr-1707	1580	27	states	states	PROPN
cblr-1707	1580	28	”	"	PUNCT
cblr-1707	1580	29	and	and	CCONJ
cblr-1707	1580	30	that	that	SCONJ
cblr-1707	1580	31	it	it	PRON
cblr-1707	1580	32	“	"	PUNCT
cblr-1707	1580	33	shall	shall	AUX
cblr-1707	1580	34	render	render	VERB
cblr-1707	1580	35	postal	postal	ADJ
cblr-1707	1580	36	services	service	NOUN
cblr-1707	1580	37	to	to	ADP
cblr-1707	1580	38	all	all	DET
cblr-1707	1580	39	communities	community	NOUN
cblr-1707	1580	40	”	"	PUNCT
cblr-1707	1580	41	)	)	PUNCT
cblr-1707	1580	42	;	;	PUNCT
cblr-1707	1580	43	i	i	PRON
cblr-1707	1580	44	d.	d.	PROPN
cblr-1707	1580	45	(	(	PUNCT
cblr-1707	1580	46	codified	codify	VERB
cblr-1707	1580	47	at	at	ADP
cblr-1707	1580	48	39	39	NUM
cblr-1707	1580	49	u.s.c	u.s.c	ADJ
cblr-1707	1580	50	.	.	PUNCT
cblr-1707	1581	1	§	§	PROPN
cblr-1707	1581	2	101(b	101(b	PROPN
cblr-1707	1581	3	)	)	PUNCT
cblr-1707	1581	4	)	)	PUNCT
cblr-1707	1582	1	(	(	PUNCT
cblr-1707	1582	2	providing	provide	VERB
cblr-1707	1582	3	that	that	SCONJ
cblr-1707	1582	4	the	the	DET
cblr-1707	1582	5	postal	postal	ADJ
cblr-1707	1582	6	system	system	NOUN
cblr-1707	1582	7	“	"	PUNCT
cblr-1707	1582	8	shall	shall	AUX
cblr-1707	1582	9	provide	provide	VERB
cblr-1707	1582	10	a	a	DET
cblr-1707	1582	11	maximum	maximum	ADJ
cblr-1707	1582	12	degree	degree	NOUN
cblr-1707	1582	13	of	of	ADP
cblr-1707	1582	14	effective	effective	ADJ
cblr-1707	1582	15	and	and	CCONJ
cblr-1707	1582	16	regular	regular	ADJ
cblr-1707	1582	17	postal	postal	ADJ
cblr-1707	1582	18	services	service	NOUN
cblr-1707	1582	19	to	to	ADP
cblr-1707	1582	20	rural	rural	ADJ
cblr-1707	1582	21	areas	area	NOUN
cblr-1707	1582	22	,	,	PUNCT
cblr-1707	1582	23	communities	community	NOUN
cblr-1707	1582	24	,	,	PUNCT
cblr-1707	1582	25	and	and	CCONJ
cblr-1707	1582	26	small	small	ADJ
cblr-1707	1582	27	towns	town	NOUN
cblr-1707	1582	28	where	where	SCONJ
cblr-1707	1582	29	post	post	NOUN
cblr-1707	1582	30	offices	office	NOUN
cblr-1707	1582	31	are	be	AUX
cblr-1707	1582	32	not	not	PART
cblr-1707	1582	33	self	self	NOUN
cblr-1707	1582	34	-	-	PUNCT
cblr-1707	1582	35	sustaining	sustain	VERB
cblr-1707	1582	36	”	"	PUNCT
cblr-1707	1582	37	and	and	CCONJ
cblr-1707	1582	38	that	that	SCONJ
cblr-1707	1582	39	“	"	PUNCT
cblr-1707	1582	40	[	[	X
cblr-1707	1582	41	n]o	n]o	ADJ
cblr-1707	1582	42	small	small	ADJ
cblr-1707	1582	43	post	post	NOUN
cblr-1707	1582	44	office	office	NOUN
cblr-1707	1582	45	shall	shall	AUX
cblr-1707	1582	46	be	be	AUX
cblr-1707	1582	47	closed	close	VERB
cblr-1707	1582	48	solely	solely	ADV
cblr-1707	1582	49	for	for	ADP
cblr-1707	1582	50	operating	operate	VERB
cblr-1707	1582	51	at	at	ADP
cblr-1707	1582	52	a	a	DET
cblr-1707	1582	53	deficit	deficit	NOUN
cblr-1707	1582	54	,	,	PUNCT
cblr-1707	1582	55	it	it	PRON
cblr-1707	1582	56	being	be	AUX
cblr-1707	1582	57	the	the	DET
cblr-1707	1582	58	specific	specific	ADJ
cblr-1707	1582	59	intent	intent	NOUN
cblr-1707	1582	60	of	of	ADP
cblr-1707	1582	61	the	the	DET
cblr-1707	1582	62	congress	congress	PROPN
cblr-1707	1582	63	that	that	SCONJ
cblr-1707	1582	64	effective	effective	ADJ
cblr-1707	1582	65	postal	postal	ADJ
cblr-1707	1582	66	services	service	NOUN
cblr-1707	1582	67	be	be	AUX
cblr-1707	1582	68	insured	insure	VERB
cblr-1707	1582	69	to	to	ADP
cblr-1707	1582	70	residents	resident	NOUN
cblr-1707	1582	71	of	of	ADP
cblr-1707	1582	72	both	both	CCONJ
cblr-1707	1582	73	urban	urban	ADJ
cblr-1707	1582	74	and	and	CCONJ
cblr-1707	1582	75	rural	rural	ADJ
cblr-1707	1582	76	communities	community	NOUN
cblr-1707	1582	77	.	.	PUNCT
cblr-1707	1582	78	”	"	PUNCT
cblr-1707	1582	79	)	)	PUNCT
cblr-1707	1582	80	;	;	PUNCT
cblr-1707	1583	1	i	i	PROPN
cblr-1707	1583	2	d.	d.	PROPN
cblr-1707	1583	3	§	§	PROPN
cblr-1707	1583	4	3623	3623	NUM
cblr-1707	1583	5	,	,	PUNCT
cblr-1707	1583	6	84	84	NUM
cblr-1707	1583	7	stat	stat	NOUN
cblr-1707	1583	8	.	.	PUNCT
cblr-1707	1584	1	719	719	NUM
cblr-1707	1584	2	,	,	PUNCT
cblr-1707	1584	3	761	761	NUM
cblr-1707	1584	4	(	(	PUNCT
cblr-1707	1584	5	1970	1970	NUM
cblr-1707	1584	6	)	)	PUNCT
cblr-1707	1584	7	(	(	PUNCT
cblr-1707	1584	8	codified	codify	VERB
cblr-1707	1584	9	at	at	ADP
cblr-1707	1584	10	39	39	NUM
cblr-1707	1584	11	u.s.c	u.s.c	ADJ
cblr-1707	1584	12	.	.	PUNCT
cblr-1707	1585	1	§	§	PROPN
cblr-1707	1585	2	404(c	404(c	PROPN
cblr-1707	1585	3	)	)	PUNCT
cblr-1707	1585	4	)	)	PUNCT
cblr-1707	1586	1	(	(	PUNCT
cblr-1707	1586	2	mandating	mandate	VERB
cblr-1707	1586	3	continuation	continuation	NOUN
cblr-1707	1586	4	of	of	ADP
cblr-1707	1586	5	uniform	uniform	ADJ
cblr-1707	1586	6	nationwide	nationwide	ADJ
cblr-1707	1586	7	rates	rate	NOUN
cblr-1707	1586	8	for	for	ADP
cblr-1707	1586	9	each	each	DET
cblr-1707	1586	10	class	class	NOUN
cblr-1707	1586	11	of	of	ADP
cblr-1707	1586	12	mail	mail	NOUN
cblr-1707	1586	13	)	)	PUNCT
cblr-1707	1586	14	.	.	PUNCT
cblr-1707	1587	1	293	293	NUM
cblr-1707	1587	2	see	see	VERB
cblr-1707	1587	3	generally	generally	ADV
cblr-1707	1587	4	president	president	PROPN
cblr-1707	1587	5	’s	’s	PART
cblr-1707	1587	6	comm’n	comm’n	NOUN
cblr-1707	1587	7	on	on	ADP
cblr-1707	1587	8	the	the	DET
cblr-1707	1587	9	u.s	u.s	PROPN
cblr-1707	1587	10	.	.	PROPN
cblr-1707	1587	11	postal	postal	PROPN
cblr-1707	1587	12	serv	serv	PROPN
cblr-1707	1587	13	.	.	PUNCT
cblr-1707	1587	14	,	,	PUNCT
cblr-1707	1587	15	embracing	embrace	VERB
cblr-1707	1587	16	the	the	DET
cblr-1707	1587	17	future	future	NOUN
cblr-1707	1587	18	:	:	PUNCT
cblr-1707	1587	19	making	make	VERB
cblr-1707	1587	20	the	the	DET
cblr-1707	1587	21	tough	tough	ADJ
cblr-1707	1587	22	choices	choice	NOUN
cblr-1707	1587	23	to	to	PART
cblr-1707	1587	24	preserve	preserve	VERB
cblr-1707	1587	25	universal	universal	ADJ
cblr-1707	1587	26	mail	mail	NOUN
cblr-1707	1587	27	service	service	NOUN
cblr-1707	1587	28	(	(	PUNCT
cblr-1707	1587	29	2003	2003	NUM
cblr-1707	1587	30	)	)	PUNCT
cblr-1707	1587	31	(	(	PUNCT
cblr-1707	1587	32	reaffirming	reaffirm	VERB
cblr-1707	1587	33	the	the	DET
cblr-1707	1587	34	postal	postal	ADJ
cblr-1707	1587	35	system	system	NOUN
cblr-1707	1587	36	’s	’s	PART
cblr-1707	1587	37	universal	universal	ADJ
cblr-1707	1587	38	service	service	NOUN
cblr-1707	1587	39	mission	mission	NOUN
cblr-1707	1587	40	and	and	CCONJ
cblr-1707	1587	41	endorsing	endorse	VERB
cblr-1707	1587	42	continued	continued	ADJ
cblr-1707	1587	43	uniform	uniform	ADJ
cblr-1707	1587	44	rates	rate	NOUN
cblr-1707	1587	45	)	)	PUNCT
cblr-1707	1587	46	,	,	PUNCT
cblr-1707	1587	47	https://www.treasury.gov/press-center/press-releases/documents/pcusps	https://www.treasury.gov/press-center/press-releases/documents/pcusps	PROPN
cblr-1707	1587	48	_	_	PUNCT
cblr-1707	1587	49	report.pdf	report.pdf	X
cblr-1707	1588	1	[	[	X
cblr-1707	1588	2	https://perma.cc/cqn4-tldp	https://perma.cc/cqn4-tldp	PROPN
cblr-1707	1588	3	]	]	X
cblr-1707	1588	4	;	;	PUNCT
cblr-1707	1588	5	u.s	u.s	PROPN
cblr-1707	1588	6	.	.	PROPN
cblr-1707	1588	7	postal	postal	PROPN
cblr-1707	1588	8	serv	serv	PROPN
cblr-1707	1588	9	.	.	PUNCT
cblr-1707	1588	10	,	,	PUNCT
cblr-1707	1588	11	annual	annual	ADJ
cblr-1707	1588	12	report	report	NOUN
cblr-1707	1588	13	2	2	NUM
cblr-1707	1588	14	(	(	PUNCT
cblr-1707	1588	15	2007	2007	NUM
cblr-1707	1588	16	)	)	PUNCT
cblr-1707	1588	17	,	,	PUNCT
cblr-1707	1588	18	https://about.usps.com/who-we-are/financials/annualreports/fy2007.pdf	https://about.usps.com/who-we-are/financials/annualreports/fy2007.pdf	PROPN
cblr-1707	1589	1	[	[	X
cblr-1707	1589	2	https://perma.cc/j65n-kfc8	https://perma.cc/j65n-kfc8	NOUN
cblr-1707	1589	3	]	]	PUNCT
cblr-1707	1589	4	(	(	PUNCT
cblr-1707	1589	5	“	"	PUNCT
cblr-1707	1589	6	[	[	X
cblr-1707	1589	7	o]ur	o]ur	NUM
cblr-1707	1589	8	mission	mission	NOUN
cblr-1707	1589	9	remains	remain	VERB
cblr-1707	1589	10	the	the	DET
cblr-1707	1589	11	same	same	ADJ
cblr-1707	1589	12	—	—	PUNCT
cblr-1707	1589	13	providing	provide	VERB
cblr-1707	1589	14	trusted	trust	VERB
cblr-1707	1589	15	,	,	PUNCT
cblr-1707	1589	16	affordable	affordable	ADJ
cblr-1707	1589	17	,	,	PUNCT
cblr-1707	1589	18	universal	universal	ADJ
cblr-1707	1589	19	service	service	NOUN
cblr-1707	1589	20	.	.	PUNCT
cblr-1707	1589	21	”	"	PUNCT
cblr-1707	1589	22	)	)	PUNCT
cblr-1707	1589	23	;	;	PUNCT
cblr-1707	1589	24	i	i	PRON
cblr-1707	1589	25	d.	d.	PROPN
cblr-1707	1589	26	at	at	ADP
cblr-1707	1589	27	59	59	NUM
cblr-1707	1589	28	(	(	PUNCT
cblr-1707	1589	29	defining	define	VERB
cblr-1707	1589	30	universal	universal	ADJ
cblr-1707	1589	31	service	service	NOUN
cblr-1707	1589	32	as	as	ADP
cblr-1707	1589	33	providing	provide	VERB
cblr-1707	1589	34	“	"	PUNCT
cblr-1707	1589	35	uniform	uniform	ADJ
cblr-1707	1589	36	and	and	CCONJ
cblr-1707	1589	37	reasonable	reasonable	ADJ
cblr-1707	1589	38	rates	rate	NOUN
cblr-1707	1589	39	to	to	ADP
cblr-1707	1589	40	everyone	everyone	PRON
cblr-1707	1589	41	,	,	PUNCT
cblr-1707	1589	42	everywhere	everywhere	ADV
cblr-1707	1589	43	”	"	PUNCT
cblr-1707	1589	44	)	)	PUNCT
cblr-1707	1589	45	.	.	PUNCT
cblr-1707	1590	1	294	294	NUM
cblr-1707	1590	2	mann	mann	PROPN
cblr-1707	1590	3	-	-	PUNCT
cblr-1707	1590	4	elkins	elkins	PROPN
cblr-1707	1590	5	act	act	PROPN
cblr-1707	1590	6	,	,	PUNCT
cblr-1707	1590	7	ch	ch	PROPN
cblr-1707	1590	8	.	.	PROPN
cblr-1707	1590	9	309	309	NUM
cblr-1707	1590	10	,	,	PUNCT
cblr-1707	1590	11	§	§	PROPN
cblr-1707	1590	12	7	7	NUM
cblr-1707	1590	13	,	,	PUNCT
cblr-1707	1590	14	36	36	NUM
cblr-1707	1590	15	stat	stat	NOUN
cblr-1707	1590	16	.	.	PUNCT
cblr-1707	1591	1	539	539	NUM
cblr-1707	1591	2	,	,	PUNCT
cblr-1707	1591	3	539	539	NUM
cblr-1707	1591	4	,	,	PUNCT
cblr-1707	1591	5	544–45	544–45	NUM
cblr-1707	1591	6	(	(	PUNCT
cblr-1707	1591	7	1910	1910	NUM
cblr-1707	1591	8	)	)	PUNCT
cblr-1707	1591	9	.	.	PUNCT
cblr-1707	1592	1	295	295	NUM
cblr-1707	1592	2	see	see	VERB
cblr-1707	1592	3	richard	richard	PROPN
cblr-1707	1592	4	r.	r.	PROPN
cblr-1707	1592	5	john	john	PROPN
cblr-1707	1592	6	,	,	PUNCT
cblr-1707	1592	7	network	network	NOUN
cblr-1707	1592	8	nation	nation	NOUN
cblr-1707	1592	9	:	:	PUNCT
cblr-1707	1592	10	inventing	invent	VERB
cblr-1707	1592	11	american	american	ADJ
cblr-1707	1592	12	telecommunications	telecommunication	NOUN
cblr-1707	1592	13	345	345	NUM
cblr-1707	1592	14	(	(	PUNCT
cblr-1707	1592	15	2010	2010	NUM
cblr-1707	1592	16	)	)	PUNCT
cblr-1707	1592	17	(	(	PUNCT
cblr-1707	1592	18	ebook	ebook	NOUN
cblr-1707	1592	19	)	)	PUNCT
cblr-1707	1592	20	.	.	PUNCT
cblr-1707	1593	1	296	296	NUM
cblr-1707	1593	2	see	see	VERB
cblr-1707	1593	3	richard	richard	PROPN
cblr-1707	1593	4	h.k	h.k	PROPN
cblr-1707	1593	5	.	.	PROPN
cblr-1707	1593	6	vietor	vietor	PROPN
cblr-1707	1593	7	,	,	PUNCT
cblr-1707	1593	8	at&t	at&t	PROPN
cblr-1707	1593	9	and	and	CCONJ
cblr-1707	1593	10	the	the	DET
cblr-1707	1593	11	public	public	ADJ
cblr-1707	1593	12	good	good	NOUN
cblr-1707	1593	13	:	:	PUNCT
cblr-1707	1593	14	regulation	regulation	NOUN
cblr-1707	1593	15	and	and	CCONJ
cblr-1707	1593	16	competition	competition	NOUN
cblr-1707	1593	17	in	in	ADP
cblr-1707	1593	18	telecommunications	telecommunication	NOUN
cblr-1707	1593	19	,	,	PUNCT
cblr-1707	1593	20	1910–1987	1910–1987	NUM
cblr-1707	1593	21	,	,	PUNCT
cblr-1707	1593	22	in	in	ADP
cblr-1707	1593	23	future	future	ADJ
cblr-1707	1593	24	competition	competition	NOUN
cblr-1707	1593	25	in	in	ADP
cblr-1707	1593	26	telecommunications	telecommunication	NOUN
cblr-1707	1593	27	27	27	NUM
cblr-1707	1593	28	,	,	PUNCT
cblr-1707	1593	29	35	35	NUM
cblr-1707	1593	30	(	(	PUNCT
cblr-1707	1593	31	stephen	stephen	PROPN
cblr-1707	1593	32	p.	p.	PROPN
cblr-1707	1593	33	bradley	bradley	PROPN
cblr-1707	1593	34	&	&	CCONJ
cblr-1707	1593	35	jerry	jerry	PROPN
cblr-1707	1593	36	a.	a.	PROPN
cblr-1707	1593	37	hausman	hausman	PROPN
cblr-1707	1593	38	eds	eds	PROPN
cblr-1707	1593	39	.	.	PROPN
cblr-1707	1593	40	,	,	PUNCT
cblr-1707	1593	41	1989	1989	NUM
cblr-1707	1593	42	)	)	PUNCT
cblr-1707	1593	43	.	.	PUNCT
cblr-1707	1594	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	1594	2	844	844	NUM
cblr-1707	1594	3	columbia	columbia	PROPN
cblr-1707	1594	4	business	business	NOUN
cblr-1707	1594	5	law	law	PROPN
cblr-1707	1594	6	review	review	NOUN
cblr-1707	1595	1	[	[	X
cblr-1707	1595	2	vol	vol	NOUN
cblr-1707	1595	3	.	.	NOUN
cblr-1707	1595	4	2018	2018	NUM
cblr-1707	1595	5	populous	populous	ADJ
cblr-1707	1595	6	areas	area	NOUN
cblr-1707	1595	7	.	.	PUNCT
cblr-1707	1596	1	the	the	DET
cblr-1707	1596	2	communications	communication	NOUN
cblr-1707	1596	3	act	act	NOUN
cblr-1707	1596	4	of	of	ADP
cblr-1707	1596	5	1934	1934	NUM
cblr-1707	1596	6	,	,	PUNCT
cblr-1707	1596	7	which	which	PRON
cblr-1707	1596	8	created	create	VERB
cblr-1707	1596	9	the	the	DET
cblr-1707	1596	10	federal	federal	PROPN
cblr-1707	1596	11	communications	communication	NOUN
cblr-1707	1596	12	commission	commission	NOUN
cblr-1707	1596	13	(	(	PUNCT
cblr-1707	1596	14	“	"	PUNCT
cblr-1707	1596	15	fcc	fcc	PROPN
cblr-1707	1596	16	”	"	PUNCT
cblr-1707	1596	17	)	)	PUNCT
cblr-1707	1596	18	,	,	PUNCT
cblr-1707	1596	19	made	make	VERB
cblr-1707	1596	20	universal	universal	ADJ
cblr-1707	1596	21	service	service	NOUN
cblr-1707	1596	22	an	an	DET
cblr-1707	1596	23	explicit	explicit	ADJ
cblr-1707	1596	24	federal	federal	ADJ
cblr-1707	1596	25	policy.297	policy.297	NOUN
cblr-1707	1596	26	by	by	ADP
cblr-1707	1596	27	the	the	DET
cblr-1707	1596	28	early	early	ADJ
cblr-1707	1596	29	1940s	1940	NOUN
cblr-1707	1596	30	the	the	DET
cblr-1707	1596	31	fcc	fcc	PROPN
cblr-1707	1596	32	had	have	AUX
cblr-1707	1596	33	adopted	adopt	VERB
cblr-1707	1596	34	a	a	DET
cblr-1707	1596	35	policy	policy	NOUN
cblr-1707	1596	36	of	of	ADP
cblr-1707	1596	37	“	"	PUNCT
cblr-1707	1596	38	equal	equal	ADJ
cblr-1707	1596	39	charges	charge	NOUN
cblr-1707	1596	40	for	for	ADP
cblr-1707	1596	41	equal	equal	ADJ
cblr-1707	1596	42	services	service	NOUN
cblr-1707	1596	43	,	,	PUNCT
cblr-1707	1596	44	”	"	PUNCT
cblr-1707	1596	45	eliminating	eliminate	VERB
cblr-1707	1596	46	interstate	interstate	ADJ
cblr-1707	1596	47	rate	rate	NOUN
cblr-1707	1596	48	differentials	differential	NOUN
cblr-1707	1596	49	and	and	CCONJ
cblr-1707	1596	50	leading	lead	VERB
cblr-1707	1596	51	soon	soon	ADV
cblr-1707	1596	52	thereafter	thereafter	ADV
cblr-1707	1596	53	to	to	PART
cblr-1707	1596	54	de	de	X
cblr-1707	1596	55	facto	facto	X
cblr-1707	1596	56	nationwide	nationwide	ADJ
cblr-1707	1596	57	average	average	ADJ
cblr-1707	1596	58	pricing.298	pricing.298	NOUN
cblr-1707	1596	59	this	this	DET
cblr-1707	1596	60	policy	policy	NOUN
cblr-1707	1596	61	benefited	benefit	VERB
cblr-1707	1596	62	rural	rural	ADJ
cblr-1707	1596	63	and	and	CCONJ
cblr-1707	1596	64	small	small	ADJ
cblr-1707	1596	65	-	-	PUNCT
cblr-1707	1596	66	town	town	NOUN
cblr-1707	1596	67	telephone	telephone	NOUN
cblr-1707	1596	68	users	user	NOUN
cblr-1707	1596	69	nationwide	nationwide	ADV
cblr-1707	1596	70	.	.	PUNCT
cblr-1707	1597	1	this	this	DET
cblr-1707	1597	2	pricing	pricing	NOUN
cblr-1707	1597	3	model	model	NOUN
cblr-1707	1597	4	ultimately	ultimately	ADV
cblr-1707	1597	5	became	become	VERB
cblr-1707	1597	6	unsustainable	unsustainable	ADJ
cblr-1707	1597	7	,	,	PUNCT
cblr-1707	1597	8	owing	owe	VERB
cblr-1707	1597	9	to	to	ADP
cblr-1707	1597	10	regulatory	regulatory	ADJ
cblr-1707	1597	11	acquiescence	acquiescence	NOUN
cblr-1707	1597	12	in	in	ADP
cblr-1707	1597	13	the	the	DET
cblr-1707	1597	14	1960s	1960	NOUN
cblr-1707	1597	15	and	and	CCONJ
cblr-1707	1597	16	1970s	1970	NOUN
cblr-1707	1597	17	to	to	ADP
cblr-1707	1597	18	ever	ever	ADV
cblr-1707	1597	19	-	-	PUNCT
cblr-1707	1597	20	increasing	increase	VERB
cblr-1707	1597	21	levels	level	NOUN
cblr-1707	1597	22	of	of	ADP
cblr-1707	1597	23	“	"	PUNCT
cblr-1707	1597	24	creamskimming	creamskimme	VERB
cblr-1707	1597	25	”	"	PUNCT
cblr-1707	1597	26	entry	entry	NOUN
cblr-1707	1597	27	by	by	ADP
cblr-1707	1597	28	competitors	competitor	NOUN
cblr-1707	1597	29	like	like	ADP
cblr-1707	1597	30	mci	mci	PROPN
cblr-1707	1597	31	communications.299	communications.299	NOUN
cblr-1707	1597	32	with	with	ADP
cblr-1707	1597	33	the	the	DET
cblr-1707	1597	34	forced	force	VERB
cblr-1707	1597	35	breakup	breakup	NOUN
cblr-1707	1597	36	of	of	ADP
cblr-1707	1597	37	at&t	at&t	PROPN
cblr-1707	1597	38	in	in	ADP
cblr-1707	1597	39	1984	1984	NUM
cblr-1707	1597	40	,	,	PUNCT
cblr-1707	1597	41	the	the	DET
cblr-1707	1597	42	era	era	NOUN
cblr-1707	1597	43	of	of	ADP
cblr-1707	1597	44	u.s	u.s	PROPN
cblr-1707	1597	45	.	.	PROPN
cblr-1707	1597	46	telecommunications	telecommunication	NOUN
cblr-1707	1597	47	as	as	ADP
cblr-1707	1597	48	a	a	DET
cblr-1707	1597	49	highly	highly	ADV
cblr-1707	1597	50	integrated	integrate	VERB
cblr-1707	1597	51	,	,	PUNCT
cblr-1707	1597	52	universal	universal	ADJ
cblr-1707	1597	53	system	system	NOUN
cblr-1707	1597	54	came	come	VERB
cblr-1707	1597	55	to	to	ADP
cblr-1707	1597	56	a	a	DET
cblr-1707	1597	57	definitive	definitive	ADJ
cblr-1707	1597	58	end	end	NOUN
cblr-1707	1597	59	.	.	PUNCT
cblr-1707	1598	1	u.s	u.s	PROPN
cblr-1707	1598	2	.	.	PROPN
cblr-1707	1598	3	transportation	transportation	NOUN
cblr-1707	1598	4	industries	industry	NOUN
cblr-1707	1598	5	followed	follow	VERB
cblr-1707	1598	6	a	a	DET
cblr-1707	1598	7	similar	similar	ADJ
cblr-1707	1598	8	regulatory	regulatory	ADJ
cblr-1707	1598	9	(	(	PUNCT
cblr-1707	1598	10	and	and	CCONJ
cblr-1707	1598	11	subsequent	subsequent	ADJ
cblr-1707	1598	12	deregulatory	deregulatory	NOUN
cblr-1707	1598	13	)	)	PUNCT
cblr-1707	1598	14	pattern	pattern	NOUN
cblr-1707	1598	15	.	.	PUNCT
cblr-1707	1599	1	even	even	ADV
cblr-1707	1599	2	before	before	ADP
cblr-1707	1599	3	the	the	DET
cblr-1707	1599	4	interstate	interstate	PROPN
cblr-1707	1599	5	commerce	commerce	PROPN
cblr-1707	1599	6	act	act	NOUN
cblr-1707	1599	7	of	of	ADP
cblr-1707	1599	8	1887300	1887300	NUM
cblr-1707	1599	9	—	—	PUNCT
cblr-1707	1599	10	the	the	DET
cblr-1707	1599	11	foundation	foundation	NOUN
cblr-1707	1599	12	stone	stone	NOUN
cblr-1707	1599	13	of	of	ADP
cblr-1707	1599	14	u.s	u.s	PROPN
cblr-1707	1599	15	.	.	PROPN
cblr-1707	1599	16	federal	federal	ADJ
cblr-1707	1599	17	administrative	administrative	ADJ
cblr-1707	1599	18	regulation	regulation	NOUN
cblr-1707	1599	19	—	—	PUNCT
cblr-1707	1599	20	railroad	railroad	NOUN
cblr-1707	1599	21	corporate	corporate	ADJ
cblr-1707	1599	22	charters	charter	NOUN
cblr-1707	1599	23	specified	specify	VERB
cblr-1707	1599	24	the	the	DET
cblr-1707	1599	25	routes	route	NOUN
cblr-1707	1599	26	that	that	SCONJ
cblr-1707	1599	27	they	they	PRON
cblr-1707	1599	28	were	be	AUX
cblr-1707	1599	29	required	require	VERB
cblr-1707	1599	30	to	to	ADP
cblr-1707	1599	31	serve.301	serve.301	PROPN
cblr-1707	1599	32	railroads	railroad	NOUN
cblr-1707	1599	33	could	could	AUX
cblr-1707	1599	34	not	not	PART
cblr-1707	1599	35	freely	freely	ADV
cblr-1707	1599	36	discontinue	discontinue	VERB
cblr-1707	1599	37	service	service	NOUN
cblr-1707	1599	38	,	,	PUNCT
cblr-1707	1599	39	even	even	ADV
cblr-1707	1599	40	if	if	SCONJ
cblr-1707	1599	41	continuation	continuation	NOUN
cblr-1707	1599	42	was	be	AUX
cblr-1707	1599	43	unprofitable.302	unprofitable.302	ADJ
cblr-1707	1599	44	in	in	ADP
cblr-1707	1599	45	1906	1906	NUM
cblr-1707	1599	46	,	,	PUNCT
cblr-1707	1599	47	the	the	DET
cblr-1707	1599	48	icc	icc	NOUN
cblr-1707	1599	49	gained	gain	VERB
cblr-1707	1599	50	the	the	DET
cblr-1707	1599	51	power	power	NOUN
cblr-1707	1599	52	to	to	PART
cblr-1707	1599	53	regulate	regulate	VERB
cblr-1707	1599	54	rates	rate	NOUN
cblr-1707	1599	55	directly,303	directly,303	ADV
cblr-1707	1599	56	and	and	CCONJ
cblr-1707	1599	57	in	in	ADP
cblr-1707	1599	58	1920	1920	NUM
cblr-1707	1599	59	its	its	PRON
cblr-1707	1599	60	powers	power	NOUN
cblr-1707	1599	61	were	be	AUX
cblr-1707	1599	62	broadened	broaden	VERB
cblr-1707	1599	63	to	to	PART
cblr-1707	1599	64	control	control	VERB
cblr-1707	1599	65	entry	entry	NOUN
cblr-1707	1599	66	and	and	CCONJ
cblr-1707	1599	67	exit	exit	NOUN
cblr-1707	1599	68	by	by	ADP
cblr-1707	1599	69	issuing	issue	VERB
cblr-1707	1599	70	certificates	certificate	NOUN
cblr-1707	1599	71	of	of	ADP
cblr-1707	1599	72	public	public	ADJ
cblr-1707	1599	73	convenience	convenience	NOUN
cblr-1707	1599	74	and	and	CCONJ
cblr-1707	1599	75	necessity.304	necessity.304	NUM
cblr-1707	1599	76	as	as	ADP
cblr-1707	1599	77	before	before	ADV
cblr-1707	1599	78	,	,	PUNCT
cblr-1707	1599	79	notes	note	VERB
cblr-1707	1599	80	one	one	NUM
cblr-1707	1599	81	scholar	scholar	NOUN
cblr-1707	1599	82	,	,	PUNCT
cblr-1707	1599	83	“	"	PUNCT
cblr-1707	1599	84	carriers	carrier	NOUN
cblr-1707	1599	85	were	be	AUX
cblr-1707	1599	86	often	often	ADV
cblr-1707	1599	87	required	require	VERB
cblr-1707	1599	88	to	to	PART
cblr-1707	1599	89	continue	continue	VERB
cblr-1707	1599	90	unprofitable	unprofitable	ADJ
cblr-1707	1599	91	services[.]”305	services[.]”305	ADJ
cblr-1707	1599	92	universal	universal	ADJ
cblr-1707	1599	93	service	service	NOUN
cblr-1707	1599	94	in	in	ADP
cblr-1707	1599	95	the	the	DET
cblr-1707	1599	96	railroad	railroad	NOUN
cblr-1707	1599	97	297	297	NUM
cblr-1707	1599	98	communications	communication	NOUN
cblr-1707	1599	99	act	act	NOUN
cblr-1707	1599	100	of	of	ADP
cblr-1707	1599	101	1934	1934	NUM
cblr-1707	1599	102	,	,	PUNCT
cblr-1707	1599	103	pub	pub	NOUN
cblr-1707	1599	104	.	.	PUNCT
cblr-1707	1600	1	l.	l.	PROPN
cblr-1707	1600	2	no	no	INTJ
cblr-1707	1600	3	.	.	PUNCT
cblr-1707	1601	1	73–416	73–416	NUM
cblr-1707	1601	2	,	,	PUNCT
cblr-1707	1601	3	§	§	PROPN
cblr-1707	1601	4	1	1	NUM
cblr-1707	1601	5	,	,	PUNCT
cblr-1707	1601	6	48	48	NUM
cblr-1707	1601	7	stat	stat	NOUN
cblr-1707	1601	8	.	.	PUNCT
cblr-1707	1602	1	1064	1064	NUM
cblr-1707	1602	2	,	,	PUNCT
cblr-1707	1602	3	1064	1064	NUM
cblr-1707	1602	4	(	(	PUNCT
cblr-1707	1602	5	codified	codify	VERB
cblr-1707	1602	6	at	at	ADP
cblr-1707	1602	7	47	47	NUM
cblr-1707	1602	8	u.s.c	u.s.c	ADJ
cblr-1707	1602	9	.	.	PUNCT
cblr-1707	1603	1	§	§	PROPN
cblr-1707	1603	2	151	151	NUM
cblr-1707	1603	3	et	et	PROPN
cblr-1707	1603	4	seq	seq	PROPN
cblr-1707	1603	5	.	.	PUNCT
cblr-1707	1603	6	)	)	PUNCT
cblr-1707	1603	7	.	.	PUNCT
cblr-1707	1604	1	298	298	NUM
cblr-1707	1604	2	see	see	VERB
cblr-1707	1604	3	vietor	vietor	NOUN
cblr-1707	1604	4	,	,	PUNCT
cblr-1707	1604	5	supra	supra	PROPN
cblr-1707	1604	6	note	note	PROPN
cblr-1707	1604	7	296	296	NUM
cblr-1707	1604	8	,	,	PUNCT
cblr-1707	1604	9	at	at	ADP
cblr-1707	1604	10	46	46	NUM
cblr-1707	1604	11	.	.	PUNCT
cblr-1707	1605	1	299	299	NUM
cblr-1707	1605	2	see	see	VERB
cblr-1707	1605	3	i	i	PROPN
cblr-1707	1605	4	d.	d.	PROPN
cblr-1707	1605	5	;	;	PUNCT
cblr-1707	1605	6	see	see	VERB
cblr-1707	1605	7	also	also	ADV
cblr-1707	1605	8	breyer	breyer	NOUN
cblr-1707	1605	9	,	,	PUNCT
cblr-1707	1605	10	supra	supra	PROPN
cblr-1707	1605	11	note	note	NOUN
cblr-1707	1605	12	136	136	NUM
cblr-1707	1605	13	,	,	PUNCT
cblr-1707	1605	14	at	at	ADP
cblr-1707	1605	15	285–314	285–314	NUM
cblr-1707	1605	16	.	.	PUNCT
cblr-1707	1606	1	300	300	NUM
cblr-1707	1606	2	interstate	interstate	PROPN
cblr-1707	1606	3	commerce	commerce	PROPN
cblr-1707	1606	4	act	act	NOUN
cblr-1707	1606	5	of	of	ADP
cblr-1707	1606	6	1887	1887	NUM
cblr-1707	1606	7	,	,	PUNCT
cblr-1707	1606	8	ch	ch	NOUN
cblr-1707	1606	9	.	.	PROPN
cblr-1707	1606	10	104	104	NUM
cblr-1707	1606	11	,	,	PUNCT
cblr-1707	1606	12	24	24	NUM
cblr-1707	1606	13	stat	stat	NOUN
cblr-1707	1606	14	.	.	PUNCT
cblr-1707	1607	1	379	379	NUM
cblr-1707	1607	2	.	.	PUNCT
cblr-1707	1608	1	301	301	NUM
cblr-1707	1608	2	theodore	theodore	PROPN
cblr-1707	1608	3	e.	e.	PROPN
cblr-1707	1608	4	keeler	keeler	PROPN
cblr-1707	1608	5	,	,	PUNCT
cblr-1707	1608	6	railroads	railroad	NOUN
cblr-1707	1608	7	,	,	PUNCT
cblr-1707	1608	8	freight	freight	NOUN
cblr-1707	1608	9	,	,	PUNCT
cblr-1707	1608	10	and	and	CCONJ
cblr-1707	1608	11	public	public	ADJ
cblr-1707	1608	12	policy	policy	NOUN
cblr-1707	1608	13	21	21	NUM
cblr-1707	1608	14	(	(	PUNCT
cblr-1707	1608	15	1983	1983	NUM
cblr-1707	1608	16	)	)	PUNCT
cblr-1707	1608	17	.	.	PUNCT
cblr-1707	1609	1	302	302	NUM
cblr-1707	1610	1	i	i	PROPN
cblr-1707	1610	2	d.	d.	PROPN
cblr-1707	1610	3	303	303	NUM
cblr-1707	1610	4	hepburn	hepburn	PROPN
cblr-1707	1610	5	act	act	NOUN
cblr-1707	1610	6	of	of	ADP
cblr-1707	1610	7	1906	1906	NUM
cblr-1707	1610	8	,	,	PUNCT
cblr-1707	1610	9	ch	ch	NOUN
cblr-1707	1610	10	.	.	PROPN
cblr-1707	1610	11	3591	3591	NUM
cblr-1707	1610	12	,	,	PUNCT
cblr-1707	1610	13	§	§	PROPN
cblr-1707	1610	14	2	2	NUM
cblr-1707	1610	15	,	,	PUNCT
cblr-1707	1610	16	34	34	NUM
cblr-1707	1610	17	stat	stat	NOUN
cblr-1707	1610	18	.	.	PUNCT
cblr-1707	1611	1	584	584	NUM
cblr-1707	1611	2	,	,	PUNCT
cblr-1707	1611	3	586	586	NUM
cblr-1707	1611	4	.	.	NOUN
cblr-1707	1611	5	304	304	NUM
cblr-1707	1611	6	transportation	transportation	PROPN
cblr-1707	1611	7	act	act	PROPN
cblr-1707	1611	8	,	,	PUNCT
cblr-1707	1611	9	1920	1920	NUM
cblr-1707	1611	10	(	(	PUNCT
cblr-1707	1611	11	esch	esch	PROPN
cblr-1707	1611	12	-	-	PUNCT
cblr-1707	1611	13	cummins	cummins	PROPN
cblr-1707	1611	14	act	act	PROPN
cblr-1707	1611	15	)	)	PUNCT
cblr-1707	1611	16	,	,	PUNCT
cblr-1707	1611	17	pub	pub	NOUN
cblr-1707	1611	18	.	.	PUNCT
cblr-1707	1612	1	l.	l.	PROPN
cblr-1707	1612	2	no	no	INTJ
cblr-1707	1612	3	.	.	PROPN
cblr-1707	1613	1	66	66	NUM
cblr-1707	1613	2	-	-	SYM
cblr-1707	1613	3	152	152	NUM
cblr-1707	1613	4	,	,	PUNCT
cblr-1707	1613	5	§	§	PROPN
cblr-1707	1613	6	402	402	NUM
cblr-1707	1613	7	,	,	PUNCT
cblr-1707	1613	8	41	41	NUM
cblr-1707	1613	9	stat	stat	NOUN
cblr-1707	1613	10	.	.	PUNCT
cblr-1707	1614	1	456	456	NUM
cblr-1707	1614	2	,	,	PUNCT
cblr-1707	1614	3	477–78	477–78	NOUN
cblr-1707	1614	4	.	.	NOUN
cblr-1707	1614	5	305	305	NUM
cblr-1707	1614	6	keeler	keeler	NOUN
cblr-1707	1614	7	,	,	PUNCT
cblr-1707	1614	8	supra	supra	PROPN
cblr-1707	1614	9	note	note	PROPN
cblr-1707	1614	10	301	301	NUM
cblr-1707	1614	11	,	,	PUNCT
cblr-1707	1614	12	at	at	ADP
cblr-1707	1614	13	25	25	NUM
cblr-1707	1614	14	.	.	PUNCT
cblr-1707	1614	15	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	1614	16	no	no	NOUN
cblr-1707	1614	17	.	.	PUNCT
cblr-1707	1615	1	3:757	3:757	NUM
cblr-1707	1615	2	]	]	X
cblr-1707	1615	3	money	money	NOUN
cblr-1707	1615	4	as	as	SCONJ
cblr-1707	1615	5	infrastructure	infrastructure	NOUN
cblr-1707	1615	6	845	845	NUM
cblr-1707	1615	7	industry	industry	NOUN
cblr-1707	1615	8	began	begin	VERB
cblr-1707	1615	9	its	its	PRON
cblr-1707	1615	10	decline	decline	NOUN
cblr-1707	1615	11	in	in	ADP
cblr-1707	1615	12	1958	1958	NUM
cblr-1707	1615	13	,	,	PUNCT
cblr-1707	1615	14	when	when	SCONJ
cblr-1707	1615	15	congress	congress	PROPN
cblr-1707	1615	16	passed	pass	VERB
cblr-1707	1615	17	legislation	legislation	NOUN
cblr-1707	1615	18	making	make	VERB
cblr-1707	1615	19	it	it	PRON
cblr-1707	1615	20	easier	easy	ADJ
cblr-1707	1615	21	for	for	SCONJ
cblr-1707	1615	22	rail	rail	NOUN
cblr-1707	1615	23	companies	company	NOUN
cblr-1707	1615	24	to	to	PART
cblr-1707	1615	25	discontinue	discontinue	VERB
cblr-1707	1615	26	unprofitable	unprofitable	ADJ
cblr-1707	1615	27	passenger	passenger	NOUN
cblr-1707	1615	28	train	train	NOUN
cblr-1707	1615	29	service.306	service.306	VERB
cblr-1707	1615	30	the	the	DET
cblr-1707	1615	31	legislation	legislation	NOUN
cblr-1707	1615	32	also	also	ADV
cblr-1707	1615	33	endowed	endow	VERB
cblr-1707	1615	34	the	the	DET
cblr-1707	1615	35	icc	icc	NOUN
cblr-1707	1615	36	with	with	ADP
cblr-1707	1615	37	the	the	DET
cblr-1707	1615	38	authority	authority	NOUN
cblr-1707	1615	39	to	to	PART
cblr-1707	1615	40	reverse	reverse	VERB
cblr-1707	1615	41	state	state	NOUN
cblr-1707	1615	42	public	public	ADJ
cblr-1707	1615	43	utility	utility	NOUN
cblr-1707	1615	44	commission	commission	NOUN
cblr-1707	1615	45	denials	denial	NOUN
cblr-1707	1615	46	of	of	ADP
cblr-1707	1615	47	discontinuance	discontinuance	NOUN
cblr-1707	1615	48	applications.307	applications.307	ADJ
cblr-1707	1615	49	additional	additional	ADJ
cblr-1707	1615	50	legislation	legislation	NOUN
cblr-1707	1615	51	from	from	ADP
cblr-1707	1615	52	1973	1973	NUM
cblr-1707	1615	53	to	to	ADP
cblr-1707	1615	54	1980	1980	NUM
cblr-1707	1615	55	eased	ease	VERB
cblr-1707	1615	56	exit	exit	NOUN
cblr-1707	1615	57	on	on	ADP
cblr-1707	1615	58	the	the	DET
cblr-1707	1615	59	freight	freight	NOUN
cblr-1707	1615	60	side.308	side.308	ADP
cblr-1707	1615	61	since	since	SCONJ
cblr-1707	1615	62	deregulation	deregulation	NOUN
cblr-1707	1615	63	,	,	PUNCT
cblr-1707	1615	64	service	service	NOUN
cblr-1707	1615	65	discontinuance	discontinuance	NOUN
cblr-1707	1615	66	and	and	CCONJ
cblr-1707	1615	67	outright	outright	ADJ
cblr-1707	1615	68	rail	rail	NOUN
cblr-1707	1615	69	line	line	NOUN
cblr-1707	1615	70	abandonment	abandonment	NOUN
cblr-1707	1615	71	have	have	AUX
cblr-1707	1615	72	been	be	AUX
cblr-1707	1615	73	widespread309	widespread309	PROPN
cblr-1707	1615	74	—	—	PUNCT
cblr-1707	1615	75	a	a	DET
cblr-1707	1615	76	devastating	devastating	ADJ
cblr-1707	1615	77	outcome	outcome	NOUN
cblr-1707	1615	78	for	for	ADP
cblr-1707	1615	79	many	many	ADJ
cblr-1707	1615	80	rural	rural	ADJ
cblr-1707	1615	81	and	and	CCONJ
cblr-1707	1615	82	smaller	small	ADJ
cblr-1707	1615	83	communities	community	NOUN
cblr-1707	1615	84	.	.	PUNCT
cblr-1707	1616	1	the	the	DET
cblr-1707	1616	2	motor	motor	NOUN
cblr-1707	1616	3	carrier	carrier	NOUN
cblr-1707	1616	4	industry	industry	NOUN
cblr-1707	1616	5	furnishes	furnish	VERB
cblr-1707	1616	6	another	another	DET
cblr-1707	1616	7	example	example	NOUN
cblr-1707	1616	8	of	of	ADP
cblr-1707	1616	9	universal	universal	ADJ
cblr-1707	1616	10	service	service	NOUN
cblr-1707	1616	11	mandates	mandate	NOUN
cblr-1707	1616	12	in	in	ADP
cblr-1707	1616	13	action	action	NOUN
cblr-1707	1616	14	.	.	PUNCT
cblr-1707	1617	1	the	the	DET
cblr-1707	1617	2	motor	motor	PROPN
cblr-1707	1617	3	carrier	carrier	PROPN
cblr-1707	1617	4	act	act	PROPN
cblr-1707	1617	5	of	of	ADP
cblr-1707	1617	6	1935	1935	NUM
cblr-1707	1617	7	brought	bring	VERB
cblr-1707	1617	8	bus	bus	NOUN
cblr-1707	1617	9	and	and	CCONJ
cblr-1707	1617	10	trucking	trucking	NOUN
cblr-1707	1617	11	companies	company	NOUN
cblr-1707	1617	12	within	within	ADP
cblr-1707	1617	13	the	the	DET
cblr-1707	1617	14	icc	icc	PROPN
cblr-1707	1617	15	’s	’s	PART
cblr-1707	1617	16	jurisdiction.310	jurisdiction.310	PROPN
cblr-1707	1617	17	regulation	regulation	NOUN
cblr-1707	1617	18	of	of	ADP
cblr-1707	1617	19	rates	rate	NOUN
cblr-1707	1617	20	and	and	CCONJ
cblr-1707	1617	21	entry	entry	NOUN
cblr-1707	1617	22	applied	apply	VERB
cblr-1707	1617	23	,	,	PUNCT
cblr-1707	1617	24	and	and	CCONJ
cblr-1707	1617	25	motor	motor	NOUN
cblr-1707	1617	26	carriers	carrier	NOUN
cblr-1707	1617	27	were	be	AUX
cblr-1707	1617	28	required	require	VERB
cblr-1707	1617	29	to	to	PART
cblr-1707	1617	30	serve	serve	VERB
cblr-1707	1617	31	off	off	ADP
cblr-1707	1617	32	-	-	PUNCT
cblr-1707	1617	33	line	line	NOUN
cblr-1707	1617	34	points	point	NOUN
cblr-1707	1617	35	.	.	PUNCT
cblr-1707	1618	1	the	the	DET
cblr-1707	1618	2	icc	icc	NOUN
cblr-1707	1618	3	would	would	AUX
cblr-1707	1618	4	suspend	suspend	VERB
cblr-1707	1618	5	carriers	carrier	NOUN
cblr-1707	1618	6	’	'	PUNCT
cblr-1707	1618	7	authority	authority	NOUN
cblr-1707	1618	8	for	for	ADP
cblr-1707	1618	9	failing	fail	VERB
cblr-1707	1618	10	to	to	PART
cblr-1707	1618	11	meet	meet	VERB
cblr-1707	1618	12	these	these	DET
cblr-1707	1618	13	universal	universal	ADJ
cblr-1707	1618	14	service	service	NOUN
cblr-1707	1618	15	obligations.311	obligations.311	NOUN
cblr-1707	1618	16	money	money	NOUN
cblr-1707	1618	17	-	-	PUNCT
cblr-1707	1618	18	losing	lose	VERB
cblr-1707	1618	19	routes	route	NOUN
cblr-1707	1618	20	were	be	AUX
cblr-1707	1618	21	balanced	balance	VERB
cblr-1707	1618	22	with	with	ADP
cblr-1707	1618	23	more	more	ADV
cblr-1707	1618	24	profitable	profitable	ADJ
cblr-1707	1618	25	traffic	traffic	NOUN
cblr-1707	1618	26	.	.	PUNCT
cblr-1707	1619	1	legislation	legislation	NOUN
cblr-1707	1619	2	in	in	ADP
cblr-1707	1619	3	1980	1980	NUM
cblr-1707	1619	4	substantially	substantially	ADV
cblr-1707	1619	5	liberalized	liberalize	VERB
cblr-1707	1619	6	entry	entry	NOUN
cblr-1707	1619	7	,	,	PUNCT
cblr-1707	1619	8	exit	exit	NOUN
cblr-1707	1619	9	,	,	PUNCT
cblr-1707	1619	10	and	and	CCONJ
cblr-1707	1619	11	rates	rate	NOUN
cblr-1707	1619	12	for	for	ADP
cblr-1707	1619	13	trucking	truck	VERB
cblr-1707	1619	14	companies.312	companies.312	PROPN
cblr-1707	1619	15	service	service	NOUN
cblr-1707	1619	16	to	to	ADP
cblr-1707	1619	17	small	small	ADJ
cblr-1707	1619	18	communities	community	NOUN
cblr-1707	1619	19	and	and	CCONJ
cblr-1707	1619	20	small	small	ADJ
cblr-1707	1619	21	shippers	shipper	NOUN
cblr-1707	1619	22	deteriorated.313	deteriorated.313	VERB
cblr-1707	1619	23	306	306	NUM
cblr-1707	1619	24	transportation	transportation	NOUN
cblr-1707	1619	25	act	act	NOUN
cblr-1707	1619	26	of	of	ADP
cblr-1707	1619	27	1958	1958	NUM
cblr-1707	1619	28	,	,	PUNCT
cblr-1707	1619	29	pub	pub	NOUN
cblr-1707	1619	30	.	.	PUNCT
cblr-1707	1620	1	l.	l.	PROPN
cblr-1707	1620	2	no	no	INTJ
cblr-1707	1620	3	.	.	PROPN
cblr-1707	1620	4	85	85	NUM
cblr-1707	1620	5	-	-	SYM
cblr-1707	1620	6	625	625	NUM
cblr-1707	1620	7	,	,	PUNCT
cblr-1707	1620	8	§	§	PROPN
cblr-1707	1620	9	5	5	NUM
cblr-1707	1620	10	,	,	PUNCT
cblr-1707	1620	11	72	72	NUM
cblr-1707	1620	12	stat	stat	NOUN
cblr-1707	1620	13	.	.	PUNCT
cblr-1707	1621	1	568	568	NUM
cblr-1707	1621	2	,	,	PUNCT
cblr-1707	1621	3	571	571	NUM
cblr-1707	1621	4	.	.	PUNCT
cblr-1707	1622	1	307	307	NUM
cblr-1707	1622	2	i	i	PRON
cblr-1707	1622	3	d.	d.	PROPN
cblr-1707	1622	4	at	at	ADP
cblr-1707	1622	5	572	572	NUM
cblr-1707	1622	6	.	.	PUNCT
cblr-1707	1623	1	308	308	NUM
cblr-1707	1623	2	see	see	VERB
cblr-1707	1623	3	regional	regional	ADJ
cblr-1707	1623	4	rail	rail	NOUN
cblr-1707	1623	5	reorganization	reorganization	NOUN
cblr-1707	1623	6	act	act	NOUN
cblr-1707	1623	7	of	of	ADP
cblr-1707	1623	8	1973	1973	NUM
cblr-1707	1623	9	,	,	PUNCT
cblr-1707	1623	10	pub	pub	NOUN
cblr-1707	1623	11	.	.	PUNCT
cblr-1707	1624	1	l.	l.	PROPN
cblr-1707	1624	2	no	no	INTJ
cblr-1707	1624	3	.	.	PROPN
cblr-1707	1625	1	93	93	NUM
cblr-1707	1625	2	-	-	SYM
cblr-1707	1625	3	236	236	NUM
cblr-1707	1625	4	,	,	PUNCT
cblr-1707	1625	5	87	87	NUM
cblr-1707	1625	6	stat	stat	NOUN
cblr-1707	1625	7	.	.	PUNCT
cblr-1707	1626	1	985	985	NUM
cblr-1707	1626	2	;	;	PUNCT
cblr-1707	1626	3	see	see	AUX
cblr-1707	1626	4	also	also	ADV
cblr-1707	1626	5	railroad	railroad	VERB
cblr-1707	1626	6	revitalization	revitalization	NOUN
cblr-1707	1626	7	and	and	CCONJ
cblr-1707	1626	8	regulatory	regulatory	ADJ
cblr-1707	1626	9	reform	reform	NOUN
cblr-1707	1626	10	act	act	NOUN
cblr-1707	1626	11	of	of	ADP
cblr-1707	1626	12	1976	1976	NUM
cblr-1707	1626	13	,	,	PUNCT
cblr-1707	1626	14	pub	pub	NOUN
cblr-1707	1626	15	.	.	PUNCT
cblr-1707	1627	1	l.	l.	PROPN
cblr-1707	1627	2	no	no	INTJ
cblr-1707	1627	3	.	.	PROPN
cblr-1707	1628	1	94	94	NUM
cblr-1707	1628	2	-	-	SYM
cblr-1707	1628	3	210	210	NUM
cblr-1707	1628	4	,	,	PUNCT
cblr-1707	1628	5	90	90	NUM
cblr-1707	1628	6	stat	stat	NOUN
cblr-1707	1628	7	.	.	PUNCT
cblr-1707	1629	1	31	31	NUM
cblr-1707	1629	2	;	;	PUNCT
cblr-1707	1629	3	staggers	stagger	VERB
cblr-1707	1629	4	rail	rail	NOUN
cblr-1707	1629	5	act	act	NOUN
cblr-1707	1629	6	of	of	ADP
cblr-1707	1629	7	1980	1980	NUM
cblr-1707	1629	8	,	,	PUNCT
cblr-1707	1629	9	pub	pub	NOUN
cblr-1707	1629	10	.	.	PUNCT
cblr-1707	1630	1	l.	l.	PROPN
cblr-1707	1630	2	no	no	INTJ
cblr-1707	1630	3	.	.	PROPN
cblr-1707	1631	1	96	96	NUM
cblr-1707	1631	2	-	-	SYM
cblr-1707	1631	3	448	448	NUM
cblr-1707	1631	4	,	,	PUNCT
cblr-1707	1631	5	94	94	NUM
cblr-1707	1631	6	stat	stat	NOUN
cblr-1707	1631	7	.	.	PUNCT
cblr-1707	1632	1	1895	1895	NUM
cblr-1707	1632	2	.	.	PUNCT
cblr-1707	1633	1	309	309	NUM
cblr-1707	1633	2	see	see	VERB
cblr-1707	1633	3	frank	frank	PROPN
cblr-1707	1633	4	j.	j.	PROPN
cblr-1707	1633	5	dooley	dooley	PROPN
cblr-1707	1633	6	&	&	CCONJ
cblr-1707	1633	7	william	william	PROPN
cblr-1707	1633	8	e.	e.	PROPN
cblr-1707	1633	9	thoms	thoms	PROPN
cblr-1707	1633	10	,	,	PUNCT
cblr-1707	1633	11	railroad	railroad	NOUN
cblr-1707	1633	12	law	law	NOUN
cblr-1707	1633	13	a	a	DET
cblr-1707	1633	14	decade	decade	NOUN
cblr-1707	1633	15	after	after	ADP
cblr-1707	1633	16	deregulation	deregulation	NOUN
cblr-1707	1633	17	46	46	NUM
cblr-1707	1633	18	(	(	PUNCT
cblr-1707	1633	19	1994	1994	NUM
cblr-1707	1633	20	)	)	PUNCT
cblr-1707	1633	21	(	(	PUNCT
cblr-1707	1633	22	discussing	discuss	VERB
cblr-1707	1633	23	the	the	DET
cblr-1707	1633	24	discontinuance	discontinuance	NOUN
cblr-1707	1633	25	of	of	ADP
cblr-1707	1633	26	passenger	passenger	NOUN
cblr-1707	1633	27	trains	train	NOUN
cblr-1707	1633	28	after	after	ADP
cblr-1707	1633	29	1958	1958	NUM
cblr-1707	1633	30	)	)	PUNCT
cblr-1707	1633	31	;	;	PUNCT
cblr-1707	1633	32	see	see	VERB
cblr-1707	1633	33	also	also	ADV
cblr-1707	1633	34	i	i	PROPN
cblr-1707	1633	35	d.	d.	PROPN
cblr-1707	1633	36	at	at	ADP
cblr-1707	1633	37	18	18	NUM
cblr-1707	1633	38	(	(	PUNCT
cblr-1707	1633	39	noting	note	VERB
cblr-1707	1633	40	the	the	DET
cblr-1707	1633	41	abandonment	abandonment	NOUN
cblr-1707	1633	42	of	of	ADP
cblr-1707	1633	43	rail	rail	NOUN
cblr-1707	1633	44	lines	line	NOUN
cblr-1707	1633	45	in	in	ADP
cblr-1707	1633	46	the	the	DET
cblr-1707	1633	47	1970s	1970	NOUN
cblr-1707	1633	48	and	and	CCONJ
cblr-1707	1633	49	1980s	1980s	NUM
cblr-1707	1633	50	)	)	PUNCT
cblr-1707	1633	51	.	.	PUNCT
cblr-1707	1634	1	310	310	NUM
cblr-1707	1634	2	motor	motor	NOUN
cblr-1707	1634	3	carrier	carrier	NOUN
cblr-1707	1634	4	act	act	NOUN
cblr-1707	1634	5	of	of	ADP
cblr-1707	1634	6	1935	1935	NUM
cblr-1707	1634	7	,	,	PUNCT
cblr-1707	1634	8	pub	pub	NOUN
cblr-1707	1634	9	.	.	PUNCT
cblr-1707	1635	1	l.	l.	PROPN
cblr-1707	1635	2	no	no	INTJ
cblr-1707	1635	3	.	.	PROPN
cblr-1707	1636	1	74	74	NUM
cblr-1707	1636	2	-	-	SYM
cblr-1707	1636	3	255	255	NUM
cblr-1707	1636	4	,	,	PUNCT
cblr-1707	1636	5	49	49	NUM
cblr-1707	1636	6	stat	stat	NOUN
cblr-1707	1636	7	.	.	PUNCT
cblr-1707	1637	1	543	543	NUM
cblr-1707	1637	2	.	.	X
cblr-1707	1637	3	311	311	NUM
cblr-1707	1637	4	paul	paul	PROPN
cblr-1707	1637	5	stephen	stephen	PROPN
cblr-1707	1637	6	dempsey	dempsey	PROPN
cblr-1707	1637	7	,	,	PUNCT
cblr-1707	1637	8	the	the	DET
cblr-1707	1637	9	social	social	ADJ
cblr-1707	1637	10	and	and	CCONJ
cblr-1707	1637	11	economic	economic	ADJ
cblr-1707	1637	12	consequences	consequence	NOUN
cblr-1707	1637	13	of	of	ADP
cblr-1707	1637	14	deregulation	deregulation	NOUN
cblr-1707	1637	15	28–29	28–29	NUM
cblr-1707	1637	16	(	(	PUNCT
cblr-1707	1637	17	1989	1989	NUM
cblr-1707	1637	18	)	)	PUNCT
cblr-1707	1637	19	.	.	PUNCT
cblr-1707	1638	1	312	312	NUM
cblr-1707	1638	2	see	see	VERB
cblr-1707	1638	3	motor	motor	NOUN
cblr-1707	1638	4	carrier	carrier	NOUN
cblr-1707	1638	5	act	act	NOUN
cblr-1707	1638	6	of	of	ADP
cblr-1707	1638	7	1980	1980	NUM
cblr-1707	1638	8	,	,	PUNCT
cblr-1707	1638	9	pub	pub	NOUN
cblr-1707	1638	10	.	.	PUNCT
cblr-1707	1639	1	l.	l.	PROPN
cblr-1707	1639	2	no	no	INTJ
cblr-1707	1639	3	.	.	PROPN
cblr-1707	1640	1	96	96	NUM
cblr-1707	1640	2	-	-	SYM
cblr-1707	1640	3	296	296	NUM
cblr-1707	1640	4	,	,	PUNCT
cblr-1707	1640	5	94	94	NUM
cblr-1707	1640	6	stat	stat	NOUN
cblr-1707	1640	7	.	.	PUNCT
cblr-1707	1641	1	793	793	NUM
cblr-1707	1641	2	.	.	NOUN
cblr-1707	1641	3	313	313	NUM
cblr-1707	1641	4	see	see	VERB
cblr-1707	1641	5	james	james	PROPN
cblr-1707	1641	6	p.	p.	PROPN
cblr-1707	1641	7	rakowski	rakowski	PROPN
cblr-1707	1641	8	,	,	PUNCT
cblr-1707	1641	9	marketing	marketing	NOUN
cblr-1707	1641	10	economies	economy	NOUN
cblr-1707	1641	11	and	and	CCONJ
cblr-1707	1641	12	the	the	DET
cblr-1707	1641	13	results	result	NOUN
cblr-1707	1641	14	of	of	ADP
cblr-1707	1641	15	trucking	trucking	NOUN
cblr-1707	1641	16	deregulation	deregulation	NOUN
cblr-1707	1641	17	in	in	ADP
cblr-1707	1641	18	the	the	DET
cblr-1707	1641	19	less	less	ADJ
cblr-1707	1641	20	-	-	PUNCT
cblr-1707	1641	21	than	than	ADP
cblr-1707	1641	22	-	-	PUNCT
cblr-1707	1641	23	truckload	truckload	NOUN
cblr-1707	1641	24	sector	sector	NOUN
cblr-1707	1641	25	,	,	PUNCT
cblr-1707	1641	26	transp	transp	PROPN
cblr-1707	1641	27	.	.	PUNCT
cblr-1707	1642	1	j.	j.	PROPN
cblr-1707	1642	2	,	,	PUNCT
cblr-1707	1642	3	spring	spring	NOUN
cblr-1707	1642	4	1988	1988	NUM
cblr-1707	1642	5	,	,	PUNCT
cblr-1707	1642	6	at	at	ADP
cblr-1707	1642	7	11	11	NUM
cblr-1707	1642	8	,	,	PUNCT
cblr-1707	1642	9	21	21	NUM
cblr-1707	1642	10	(	(	PUNCT
cblr-1707	1642	11	1980	1980	NUM
cblr-1707	1642	12	)	)	PUNCT
cblr-1707	1642	13	.	.	PUNCT
cblr-1707	1643	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	1643	2	846	846	NUM
cblr-1707	1643	3	columbia	columbia	PROPN
cblr-1707	1643	4	business	business	NOUN
cblr-1707	1643	5	law	law	PROPN
cblr-1707	1643	6	review	review	NOUN
cblr-1707	1643	7	[	[	X
cblr-1707	1643	8	vol	vol	NOUN
cblr-1707	1643	9	.	.	NOUN
cblr-1707	1643	10	2018	2018	NUM
cblr-1707	1643	11	outcomes	outcome	NOUN
cblr-1707	1643	12	were	be	AUX
cblr-1707	1643	13	even	even	ADV
cblr-1707	1643	14	more	more	ADV
cblr-1707	1643	15	extreme	extreme	ADJ
cblr-1707	1643	16	in	in	ADP
cblr-1707	1643	17	the	the	DET
cblr-1707	1643	18	intercity	intercity	ADJ
cblr-1707	1643	19	bus	bus	NOUN
cblr-1707	1643	20	industry	industry	NOUN
cblr-1707	1643	21	.	.	PUNCT
cblr-1707	1644	1	the	the	DET
cblr-1707	1644	2	bus	bus	NOUN
cblr-1707	1644	3	regulatory	regulatory	ADJ
cblr-1707	1644	4	reform	reform	NOUN
cblr-1707	1644	5	act	act	NOUN
cblr-1707	1644	6	of	of	ADP
cblr-1707	1644	7	1982	1982	NUM
cblr-1707	1644	8	let	let	VERB
cblr-1707	1644	9	bus	bus	NOUN
cblr-1707	1644	10	companies	company	NOUN
cblr-1707	1644	11	abandon	abandon	VERB
cblr-1707	1644	12	or	or	CCONJ
cblr-1707	1644	13	discontinue	discontinue	VERB
cblr-1707	1644	14	service	service	NOUN
cblr-1707	1644	15	practically	practically	ADV
cblr-1707	1644	16	at	at	ADP
cblr-1707	1644	17	their	their	PRON
cblr-1707	1644	18	discretion.314	discretion.314	NOUN
cblr-1707	1644	19	as	as	ADP
cblr-1707	1644	20	with	with	ADP
cblr-1707	1644	21	railroads	railroad	NOUN
cblr-1707	1644	22	,	,	PUNCT
cblr-1707	1644	23	it	it	PRON
cblr-1707	1644	24	also	also	ADV
cblr-1707	1644	25	let	let	VERB
cblr-1707	1644	26	the	the	DET
cblr-1707	1644	27	icc	icc	NOUN
cblr-1707	1644	28	reverse	reverse	VERB
cblr-1707	1644	29	state	state	NOUN
cblr-1707	1644	30	public	public	ADJ
cblr-1707	1644	31	utilities	utility	NOUN
cblr-1707	1644	32	commission	commission	NOUN
cblr-1707	1644	33	denials	denial	NOUN
cblr-1707	1644	34	of	of	ADP
cblr-1707	1644	35	service	service	NOUN
cblr-1707	1644	36	discontinuance.315	discontinuance.315	VERB
cblr-1707	1644	37	the	the	DET
cblr-1707	1644	38	president	president	NOUN
cblr-1707	1644	39	of	of	ADP
cblr-1707	1644	40	greyhound	greyhound	NOUN
cblr-1707	1644	41	had	have	AUX
cblr-1707	1644	42	predicted	predict	VERB
cblr-1707	1644	43	that	that	SCONJ
cblr-1707	1644	44	“	"	PUNCT
cblr-1707	1644	45	the	the	DET
cblr-1707	1644	46	rural	rural	ADJ
cblr-1707	1644	47	areas	area	NOUN
cblr-1707	1644	48	are	be	AUX
cblr-1707	1644	49	going	go	VERB
cblr-1707	1644	50	to	to	PART
cblr-1707	1644	51	have	have	VERB
cblr-1707	1644	52	to	to	PART
cblr-1707	1644	53	suffer	suffer	VERB
cblr-1707	1644	54	”	"	PUNCT
cblr-1707	1644	55	under	under	ADP
cblr-1707	1644	56	bus	bus	NOUN
cblr-1707	1645	1	deregulation.316	deregulation.316	PROPN
cblr-1707	1645	2	he	he	PRON
cblr-1707	1645	3	predicted	predict	VERB
cblr-1707	1645	4	correctly	correctly	ADV
cblr-1707	1645	5	.	.	PUNCT
cblr-1707	1646	1	thousands	thousand	NOUN
cblr-1707	1646	2	of	of	ADP
cblr-1707	1646	3	smaller	small	ADJ
cblr-1707	1646	4	communities	community	NOUN
cblr-1707	1646	5	lost	lose	VERB
cblr-1707	1646	6	intercity	intercity	ADJ
cblr-1707	1646	7	bus	bus	NOUN
cblr-1707	1646	8	service	service	NOUN
cblr-1707	1646	9	in	in	ADP
cblr-1707	1646	10	short	short	ADJ
cblr-1707	1646	11	order.317	order.317	ADJ
cblr-1707	1646	12	finally	finally	ADV
cblr-1707	1646	13	,	,	PUNCT
cblr-1707	1646	14	u.s	u.s	PROPN
cblr-1707	1646	15	.	.	PROPN
cblr-1707	1646	16	airline	airline	NOUN
cblr-1707	1646	17	regulation	regulation	NOUN
cblr-1707	1646	18	went	go	VERB
cblr-1707	1646	19	through	through	ADP
cblr-1707	1646	20	a	a	DET
cblr-1707	1646	21	broadly	broadly	ADV
cblr-1707	1646	22	similar	similar	ADJ
cblr-1707	1646	23	pattern	pattern	NOUN
cblr-1707	1646	24	.	.	PUNCT
cblr-1707	1647	1	the	the	DET
cblr-1707	1647	2	civil	civil	ADJ
cblr-1707	1647	3	aeronautics	aeronautic	NOUN
cblr-1707	1647	4	act	act	NOUN
cblr-1707	1647	5	of	of	ADP
cblr-1707	1647	6	1938	1938	NUM
cblr-1707	1647	7	brought	bring	VERB
cblr-1707	1647	8	federal	federal	ADJ
cblr-1707	1647	9	economic	economic	ADJ
cblr-1707	1647	10	regulation	regulation	NOUN
cblr-1707	1647	11	to	to	ADP
cblr-1707	1647	12	the	the	DET
cblr-1707	1647	13	infant	infant	NOUN
cblr-1707	1647	14	airline	airline	NOUN
cblr-1707	1647	15	industry.318	industry.318	NOUN
cblr-1707	1647	16	as	as	ADP
cblr-1707	1647	17	with	with	ADP
cblr-1707	1647	18	other	other	ADJ
cblr-1707	1647	19	transportation	transportation	NOUN
cblr-1707	1647	20	industries	industry	NOUN
cblr-1707	1647	21	,	,	PUNCT
cblr-1707	1647	22	entry	entry	NOUN
cblr-1707	1647	23	and	and	CCONJ
cblr-1707	1647	24	rates	rate	NOUN
cblr-1707	1647	25	were	be	AUX
cblr-1707	1647	26	regulated	regulate	VERB
cblr-1707	1647	27	.	.	PUNCT
cblr-1707	1648	1	over	over	ADP
cblr-1707	1648	2	the	the	DET
cblr-1707	1648	3	next	next	ADJ
cblr-1707	1648	4	few	few	ADJ
cblr-1707	1648	5	decades	decade	NOUN
cblr-1707	1648	6	the	the	DET
cblr-1707	1648	7	air	air	NOUN
cblr-1707	1648	8	passenger	passenger	NOUN
cblr-1707	1648	9	network	network	NOUN
cblr-1707	1648	10	grew	grow	VERB
cblr-1707	1648	11	exponentially	exponentially	ADV
cblr-1707	1648	12	.	.	PUNCT
cblr-1707	1649	1	pricing	pricing	NOUN
cblr-1707	1649	2	was	be	AUX
cblr-1707	1649	3	uniform	uniform	ADJ
cblr-1707	1649	4	,	,	PUNCT
cblr-1707	1649	5	under	under	ADP
cblr-1707	1649	6	an	an	DET
cblr-1707	1649	7	“	"	PUNCT
cblr-1707	1649	8	equal	equal	ADJ
cblr-1707	1649	9	fares	fare	NOUN
cblr-1707	1649	10	for	for	ADP
cblr-1707	1649	11	equal	equal	ADJ
cblr-1707	1649	12	miles	mile	NOUN
cblr-1707	1649	13	”	"	PUNCT
cblr-1707	1649	14	standard.319	standard.319	PROPN
cblr-1707	1649	15	airlines	airline	NOUN
cblr-1707	1649	16	were	be	AUX
cblr-1707	1649	17	awarded	award	VERB
cblr-1707	1649	18	more	more	ADV
cblr-1707	1649	19	profitable	profitable	ADJ
cblr-1707	1649	20	routes	route	NOUN
cblr-1707	1649	21	to	to	PART
cblr-1707	1649	22	balance	balance	VERB
cblr-1707	1649	23	their	their	PRON
cblr-1707	1649	24	less	less	ADV
cblr-1707	1649	25	profitable	profitable	ADJ
cblr-1707	1649	26	routes.320	routes.320	NOUN
cblr-1707	1649	27	in	in	ADP
cblr-1707	1649	28	the	the	DET
cblr-1707	1649	29	late	late	ADJ
cblr-1707	1649	30	1970s	1970	NOUN
cblr-1707	1649	31	this	this	DET
cblr-1707	1649	32	universal	universal	ADJ
cblr-1707	1649	33	service	service	NOUN
cblr-1707	1649	34	model	model	NOUN
cblr-1707	1649	35	came	come	VERB
cblr-1707	1649	36	to	to	ADP
cblr-1707	1649	37	an	an	DET
cblr-1707	1649	38	end	end	NOUN
cblr-1707	1649	39	,	,	PUNCT
cblr-1707	1649	40	first	first	ADV
cblr-1707	1649	41	through	through	ADP
cblr-1707	1649	42	administrative	administrative	ADJ
cblr-1707	1649	43	action321	action321	PROPN
cblr-1707	1649	44	and	and	CCONJ
cblr-1707	1650	1	then	then	ADV
cblr-1707	1650	2	through	through	ADP
cblr-1707	1650	3	legislation.322	legislation.322	PROPN
cblr-1707	1650	4	comprehensive	comprehensive	ADJ
cblr-1707	1650	5	deregulation	deregulation	NOUN
cblr-1707	1650	6	of	of	ADP
cblr-1707	1650	7	314	314	NUM
cblr-1707	1650	8	bus	bus	NOUN
cblr-1707	1650	9	regulatory	regulatory	ADJ
cblr-1707	1650	10	reform	reform	NOUN
cblr-1707	1650	11	act	act	NOUN
cblr-1707	1650	12	of	of	ADP
cblr-1707	1650	13	1982	1982	NUM
cblr-1707	1650	14	,	,	PUNCT
cblr-1707	1650	15	pub	pub	NOUN
cblr-1707	1650	16	.	.	PUNCT
cblr-1707	1651	1	l.	l.	PROPN
cblr-1707	1651	2	no	no	INTJ
cblr-1707	1651	3	.	.	PROPN
cblr-1707	1652	1	97	97	NUM
cblr-1707	1652	2	-	-	SYM
cblr-1707	1652	3	261	261	NUM
cblr-1707	1652	4	,	,	PUNCT
cblr-1707	1652	5	96	96	NUM
cblr-1707	1652	6	stat	stat	NOUN
cblr-1707	1652	7	.	.	PUNCT
cblr-1707	1653	1	1102	1102	NUM
cblr-1707	1653	2	.	.	PUNCT
cblr-1707	1654	1	315	315	NUM
cblr-1707	1654	2	i	i	PROPN
cblr-1707	1654	3	d.	d.	PROPN
cblr-1707	1654	4	§	§	PROPN
cblr-1707	1654	5	16(a	16(a	NUM
cblr-1707	1654	6	)	)	PUNCT
cblr-1707	1654	7	,	,	PUNCT
cblr-1707	1654	8	96	96	NUM
cblr-1707	1654	9	stat	stat	NOUN
cblr-1707	1654	10	.	.	PUNCT
cblr-1707	1655	1	at	at	ADP
cblr-1707	1655	2	1115–1117	1115–1117	NUM
cblr-1707	1655	3	.	.	PUNCT
cblr-1707	1656	1	316	316	NUM
cblr-1707	1656	2	dempsey	dempsey	NOUN
cblr-1707	1656	3	,	,	PUNCT
cblr-1707	1656	4	supra	supra	PROPN
cblr-1707	1656	5	note	note	PROPN
cblr-1707	1656	6	311	311	NUM
cblr-1707	1656	7	,	,	PUNCT
cblr-1707	1656	8	at	at	ADP
cblr-1707	1656	9	205	205	NUM
cblr-1707	1656	10	.	.	PUNCT
cblr-1707	1657	1	317	317	NUM
cblr-1707	1657	2	i	i	PRON
cblr-1707	1657	3	d.	d.	PROPN
cblr-1707	1657	4	at	at	ADP
cblr-1707	1657	5	206	206	NUM
cblr-1707	1657	6	.	.	PUNCT
cblr-1707	1658	1	even	even	ADV
cblr-1707	1658	2	alfred	alfred	PROPN
cblr-1707	1658	3	kahn	kahn	PROPN
cblr-1707	1658	4	,	,	PUNCT
cblr-1707	1658	5	the	the	DET
cblr-1707	1658	6	intellectual	intellectual	ADJ
cblr-1707	1658	7	godfather	godfather	PROPN
cblr-1707	1658	8	of	of	ADP
cblr-1707	1658	9	infrastructure	infrastructure	NOUN
cblr-1707	1658	10	deregulation	deregulation	NOUN
cblr-1707	1658	11	,	,	PUNCT
cblr-1707	1658	12	later	later	ADV
cblr-1707	1658	13	questioned	question	VERB
cblr-1707	1658	14	the	the	DET
cblr-1707	1658	15	wisdom	wisdom	NOUN
cblr-1707	1658	16	of	of	ADP
cblr-1707	1658	17	this	this	DET
cblr-1707	1658	18	legislation	legislation	NOUN
cblr-1707	1658	19	:	:	PUNCT
cblr-1707	1658	20	“	"	PUNCT
cblr-1707	1658	21	i	i	PRON
cblr-1707	1658	22	’m	’m	VERB
cblr-1707	1658	23	not	not	PART
cblr-1707	1658	24	sure	sure	ADJ
cblr-1707	1658	25	i	i	PRON
cblr-1707	1658	26	would	would	AUX
cblr-1707	1658	27	ever	ever	ADV
cblr-1707	1658	28	have	have	AUX
cblr-1707	1658	29	deregulated	deregulate	VERB
cblr-1707	1658	30	the	the	DET
cblr-1707	1658	31	buses	bus	NOUN
cblr-1707	1658	32	because	because	SCONJ
cblr-1707	1658	33	the	the	DET
cblr-1707	1658	34	bus	bus	NOUN
cblr-1707	1658	35	is	be	AUX
cblr-1707	1658	36	a	a	DET
cblr-1707	1658	37	lifeline	lifeline	NOUN
cblr-1707	1658	38	of	of	ADP
cblr-1707	1658	39	many	many	ADJ
cblr-1707	1658	40	small	small	ADJ
cblr-1707	1658	41	communities	community	NOUN
cblr-1707	1658	42	for	for	SCONJ
cblr-1707	1658	43	people	people	NOUN
cblr-1707	1658	44	to	to	PART
cblr-1707	1658	45	get	get	VERB
cblr-1707	1658	46	to	to	ADP
cblr-1707	1658	47	the	the	DET
cblr-1707	1658	48	doctor	doctor	NOUN
cblr-1707	1658	49	or	or	CCONJ
cblr-1707	1658	50	to	to	ADP
cblr-1707	1658	51	the	the	DET
cblr-1707	1658	52	social	social	ADJ
cblr-1707	1658	53	security	security	NOUN
cblr-1707	1658	54	office	office	NOUN
cblr-1707	1658	55	.	.	PUNCT
cblr-1707	1658	56	”	"	PUNCT
cblr-1707	1659	1	testimony	testimony	NOUN
cblr-1707	1659	2	of	of	ADP
cblr-1707	1659	3	alfred	alfred	PROPN
cblr-1707	1659	4	kahn	kahn	PROPN
cblr-1707	1659	5	before	before	ADP
cblr-1707	1659	6	the	the	DET
cblr-1707	1659	7	california	california	PROPN
cblr-1707	1659	8	public	public	PROPN
cblr-1707	1659	9	utilities	utilities	PROPN
cblr-1707	1659	10	commission	commission	PROPN
cblr-1707	1659	11	6247	6247	NUM
cblr-1707	1659	12	-	-	SYM
cblr-1707	1659	13	48	48	NUM
cblr-1707	1659	14	(	(	PUNCT
cblr-1707	1659	15	jan	jan	PROPN
cblr-1707	1659	16	.	.	PROPN
cblr-1707	1659	17	31	31	NUM
cblr-1707	1659	18	,	,	PUNCT
cblr-1707	1659	19	1989	1989	NUM
cblr-1707	1659	20	)	)	PUNCT
cblr-1707	1660	1	;	;	PUNCT
cblr-1707	1660	2	see	see	VERB
cblr-1707	1660	3	paul	paul	PROPN
cblr-1707	1660	4	stephen	stephen	PROPN
cblr-1707	1660	5	dempsey	dempsey	PROPN
cblr-1707	1660	6	&	&	CCONJ
cblr-1707	1660	7	andrew	andrew	PROPN
cblr-1707	1660	8	r.	r.	PROPN
cblr-1707	1660	9	goetz	goetz	PROPN
cblr-1707	1660	10	,	,	PUNCT
cblr-1707	1660	11	airline	airline	NOUN
cblr-1707	1660	12	deregulation	deregulation	NOUN
cblr-1707	1660	13	and	and	CCONJ
cblr-1707	1660	14	laissez	laissez	NOUN
cblr-1707	1660	15	-	-	PUNCT
cblr-1707	1660	16	faire	faire	NOUN
cblr-1707	1660	17	mythology	mythology	NOUN
cblr-1707	1660	18	279	279	NUM
cblr-1707	1660	19	(	(	PUNCT
cblr-1707	1660	20	1992	1992	NUM
cblr-1707	1660	21	)	)	PUNCT
cblr-1707	1660	22	.	.	PUNCT
cblr-1707	1661	1	318	318	NUM
cblr-1707	1661	2	civil	civil	ADJ
cblr-1707	1661	3	aeronautics	aeronautic	NOUN
cblr-1707	1661	4	act	act	NOUN
cblr-1707	1661	5	of	of	ADP
cblr-1707	1661	6	1938	1938	NUM
cblr-1707	1661	7	,	,	PUNCT
cblr-1707	1661	8	pub	pub	NOUN
cblr-1707	1661	9	.	.	PUNCT
cblr-1707	1662	1	l.	l.	PROPN
cblr-1707	1662	2	no	no	INTJ
cblr-1707	1662	3	.	.	PROPN
cblr-1707	1663	1	75	75	NUM
cblr-1707	1663	2	-	-	SYM
cblr-1707	1663	3	706	706	NUM
cblr-1707	1663	4	,	,	PUNCT
cblr-1707	1663	5	52	52	NUM
cblr-1707	1663	6	stat	stat	NOUN
cblr-1707	1663	7	.	.	PUNCT
cblr-1707	1664	1	973	973	NUM
cblr-1707	1664	2	.	.	PUNCT
cblr-1707	1664	3	319	319	NUM
cblr-1707	1664	4	breyer	breyer	NOUN
cblr-1707	1664	5	,	,	PUNCT
cblr-1707	1664	6	supra	supra	PROPN
cblr-1707	1664	7	note	note	NOUN
cblr-1707	1664	8	136	136	NUM
cblr-1707	1664	9	,	,	PUNCT
cblr-1707	1664	10	at	at	ADP
cblr-1707	1664	11	212	212	NUM
cblr-1707	1664	12	.	.	PUNCT
cblr-1707	1664	13	320	320	NUM
cblr-1707	1664	14	i	i	PRON
cblr-1707	1664	15	d.	d.	NOUN
cblr-1707	1664	16	at	at	ADP
cblr-1707	1664	17	213	213	NUM
cblr-1707	1664	18	.	.	PUNCT
cblr-1707	1664	19	321	321	NUM
cblr-1707	1664	20	see	see	VERB
cblr-1707	1664	21	dempsey	dempsey	PROPN
cblr-1707	1664	22	,	,	PUNCT
cblr-1707	1664	23	supra	supra	PROPN
cblr-1707	1664	24	note	note	PROPN
cblr-1707	1664	25	311	311	NUM
cblr-1707	1664	26	,	,	PUNCT
cblr-1707	1664	27	at	at	ADP
cblr-1707	1664	28	20	20	NUM
cblr-1707	1664	29	.	.	PUNCT
cblr-1707	1665	1	322	322	NUM
cblr-1707	1665	2	airline	airline	NOUN
cblr-1707	1665	3	deregulation	deregulation	NOUN
cblr-1707	1665	4	act	act	NOUN
cblr-1707	1665	5	of	of	ADP
cblr-1707	1665	6	1978	1978	NUM
cblr-1707	1665	7	,	,	PUNCT
cblr-1707	1665	8	pub	pub	NOUN
cblr-1707	1665	9	.	.	PUNCT
cblr-1707	1666	1	l.	l.	PROPN
cblr-1707	1666	2	no	no	INTJ
cblr-1707	1666	3	.	.	PUNCT
cblr-1707	1667	1	95–504	95–504	NUM
cblr-1707	1667	2	,	,	PUNCT
cblr-1707	1667	3	§	§	PROPN
cblr-1707	1667	4	4	4	NUM
cblr-1707	1667	5	,	,	PUNCT
cblr-1707	1667	6	92	92	NUM
cblr-1707	1667	7	stat	stat	NOUN
cblr-1707	1667	8	.	.	PUNCT
cblr-1707	1668	1	1705	1705	NUM
cblr-1707	1668	2	,	,	PUNCT
cblr-1707	1668	3	1708	1708	NUM
cblr-1707	1668	4	.	.	PUNCT
cblr-1707	1669	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	1669	2	no	no	NOUN
cblr-1707	1669	3	.	.	PUNCT
cblr-1707	1670	1	3:757	3:757	NUM
cblr-1707	1670	2	]	]	X
cblr-1707	1670	3	money	money	NOUN
cblr-1707	1670	4	as	as	SCONJ
cblr-1707	1670	5	infrastructure	infrastructure	NOUN
cblr-1707	1670	6	847	847	NUM
cblr-1707	1670	7	airlines	airline	NOUN
cblr-1707	1670	8	led	lead	VERB
cblr-1707	1670	9	to	to	ADP
cblr-1707	1670	10	drastic	drastic	ADJ
cblr-1707	1670	11	service	service	NOUN
cblr-1707	1670	12	reductions	reduction	NOUN
cblr-1707	1670	13	to	to	AUX
cblr-1707	1670	14	small	small	ADJ
cblr-1707	1670	15	and	and	CCONJ
cblr-1707	1670	16	midsize	midsize	VERB
cblr-1707	1670	17	cities.323	cities.323	ADJ
cblr-1707	1670	18	in	in	ADP
cblr-1707	1670	19	each	each	PRON
cblr-1707	1670	20	of	of	ADP
cblr-1707	1670	21	the	the	DET
cblr-1707	1670	22	foregoing	forego	VERB
cblr-1707	1670	23	examples	example	NOUN
cblr-1707	1670	24	—	—	PUNCT
cblr-1707	1670	25	electric	electric	ADJ
cblr-1707	1670	26	and	and	CCONJ
cblr-1707	1670	27	gas	gas	NOUN
cblr-1707	1670	28	utilities	utility	NOUN
cblr-1707	1670	29	,	,	PUNCT
cblr-1707	1670	30	telecommunications	telecommunication	NOUN
cblr-1707	1670	31	,	,	PUNCT
cblr-1707	1670	32	and	and	CCONJ
cblr-1707	1670	33	transportation	transportation	NOUN
cblr-1707	1670	34	—	—	PUNCT
cblr-1707	1670	35	regulated	regulate	VERB
cblr-1707	1670	36	firms	firm	NOUN
cblr-1707	1670	37	have	have	AUX
cblr-1707	1670	38	been	be	AUX
cblr-1707	1670	39	required	require	VERB
cblr-1707	1670	40	,	,	PUNCT
cblr-1707	1670	41	in	in	ADP
cblr-1707	1670	42	one	one	NUM
cblr-1707	1670	43	form	form	NOUN
cblr-1707	1670	44	or	or	CCONJ
cblr-1707	1670	45	fashion	fashion	NOUN
cblr-1707	1670	46	,	,	PUNCT
cblr-1707	1670	47	to	to	PART
cblr-1707	1670	48	serve	serve	VERB
cblr-1707	1670	49	some	some	DET
cblr-1707	1670	50	classes	class	NOUN
cblr-1707	1670	51	of	of	ADP
cblr-1707	1670	52	users	user	NOUN
cblr-1707	1670	53	at	at	ADP
cblr-1707	1670	54	prices	price	NOUN
cblr-1707	1670	55	below	below	ADP
cblr-1707	1670	56	cost	cost	NOUN
cblr-1707	1670	57	,	,	PUNCT
cblr-1707	1670	58	with	with	ADP
cblr-1707	1670	59	a	a	DET
cblr-1707	1670	60	view	view	NOUN
cblr-1707	1670	61	toward	toward	ADP
cblr-1707	1670	62	promoting	promote	VERB
cblr-1707	1670	63	broad	broad	ADJ
cblr-1707	1670	64	access	access	NOUN
cblr-1707	1670	65	to	to	ADP
cblr-1707	1670	66	infrastructure	infrastructure	NOUN
cblr-1707	1670	67	resources	resource	NOUN
cblr-1707	1670	68	.	.	PUNCT
cblr-1707	1671	1	insofar	insofar	ADV
cblr-1707	1671	2	as	as	SCONJ
cblr-1707	1671	3	spillovers	spillover	NOUN
cblr-1707	1671	4	are	be	AUX
cblr-1707	1671	5	an	an	DET
cblr-1707	1671	6	increasing	increase	VERB
cblr-1707	1671	7	function	function	NOUN
cblr-1707	1671	8	of	of	ADP
cblr-1707	1671	9	the	the	DET
cblr-1707	1671	10	active	active	ADJ
cblr-1707	1671	11	user	user	NOUN
cblr-1707	1671	12	base	base	NOUN
cblr-1707	1671	13	(	(	PUNCT
cblr-1707	1671	14	or	or	CCONJ
cblr-1707	1671	15	network	network	NOUN
cblr-1707	1671	16	penetration	penetration	NOUN
cblr-1707	1671	17	)	)	PUNCT
cblr-1707	1671	18	of	of	ADP
cblr-1707	1671	19	the	the	DET
cblr-1707	1671	20	resource	resource	NOUN
cblr-1707	1671	21	,	,	PUNCT
cblr-1707	1671	22	such	such	ADJ
cblr-1707	1671	23	requirements	requirement	NOUN
cblr-1707	1671	24	can	can	AUX
cblr-1707	1671	25	be	be	AUX
cblr-1707	1671	26	efficiency	efficiency	NOUN
cblr-1707	1671	27	-	-	PUNCT
cblr-1707	1671	28	enhancing	enhance	VERB
cblr-1707	1671	29	.	.	PUNCT
cblr-1707	1672	1	“	"	PUNCT
cblr-1707	1672	2	universal	universal	ADJ
cblr-1707	1672	3	service	service	NOUN
cblr-1707	1672	4	commitments	commitment	NOUN
cblr-1707	1672	5	are	be	AUX
cblr-1707	1672	6	not	not	PART
cblr-1707	1672	7	solely	solely	ADV
cblr-1707	1672	8	normatively	normatively	ADV
cblr-1707	1672	9	grounded	ground	VERB
cblr-1707	1672	10	in	in	ADP
cblr-1707	1672	11	distributional	distributional	ADJ
cblr-1707	1672	12	concerns	concern	NOUN
cblr-1707	1672	13	,	,	PUNCT
cblr-1707	1672	14	”	"	PUNCT
cblr-1707	1672	15	notes	note	VERB
cblr-1707	1672	16	brett	brett	PROPN
cblr-1707	1672	17	frischmann	frischmann	PROPN
cblr-1707	1672	18	in	in	ADP
cblr-1707	1672	19	his	his	PRON
cblr-1707	1672	20	influential	influential	ADJ
cblr-1707	1672	21	study	study	NOUN
cblr-1707	1672	22	of	of	ADP
cblr-1707	1672	23	infrastructural	infrastructural	ADJ
cblr-1707	1672	24	resources.324	resources.324	ADJ
cblr-1707	1672	25	“	"	PUNCT
cblr-1707	1672	26	[	[	X
cblr-1707	1672	27	t]he	t]he	ADJ
cblr-1707	1672	28	commitments	commitment	NOUN
cblr-1707	1672	29	also	also	ADV
cblr-1707	1672	30	have	have	VERB
cblr-1707	1672	31	positive	positive	ADJ
cblr-1707	1672	32	efficiency	efficiency	NOUN
cblr-1707	1672	33	implications	implication	NOUN
cblr-1707	1672	34	.	.	PUNCT
cblr-1707	1673	1	”325	”325	PROPN
cblr-1707	1673	2	richard	richard	PROPN
cblr-1707	1673	3	posner	posner	PROPN
cblr-1707	1673	4	argued	argue	VERB
cblr-1707	1673	5	in	in	ADP
cblr-1707	1673	6	a	a	DET
cblr-1707	1673	7	brilliant	brilliant	ADJ
cblr-1707	1673	8	early	early	ADJ
cblr-1707	1673	9	article	article	NOUN
cblr-1707	1673	10	that	that	SCONJ
cblr-1707	1673	11	regulation	regulation	NOUN
cblr-1707	1673	12	of	of	ADP
cblr-1707	1673	13	this	this	DET
cblr-1707	1673	14	type	type	NOUN
cblr-1707	1673	15	can	can	AUX
cblr-1707	1673	16	be	be	AUX
cblr-1707	1673	17	seen	see	VERB
cblr-1707	1673	18	as	as	ADP
cblr-1707	1673	19	a	a	DET
cblr-1707	1673	20	branch	branch	NOUN
cblr-1707	1673	21	of	of	ADP
cblr-1707	1673	22	public	public	ADJ
cblr-1707	1673	23	finance	finance	NOUN
cblr-1707	1673	24	—	—	PUNCT
cblr-1707	1673	25	a	a	DET
cblr-1707	1673	26	way	way	NOUN
cblr-1707	1673	27	of	of	ADP
cblr-1707	1673	28	securing	secure	VERB
cblr-1707	1673	29	broader	broad	ADJ
cblr-1707	1673	30	access	access	NOUN
cblr-1707	1673	31	to	to	ADP
cblr-1707	1673	32	infrastructural	infrastructural	ADJ
cblr-1707	1673	33	resources	resource	NOUN
cblr-1707	1673	34	than	than	ADP
cblr-1707	1673	35	the	the	DET
cblr-1707	1673	36	market	market	NOUN
cblr-1707	1673	37	alone	alone	ADV
cblr-1707	1673	38	would	would	AUX
cblr-1707	1673	39	supply.326	supply.326	VERB
cblr-1707	1673	40	internal	internal	ADJ
cblr-1707	1673	41	cross	cross	NOUN
cblr-1707	1673	42	-	-	NOUN
cblr-1707	1673	43	subsidies	subsidy	NOUN
cblr-1707	1673	44	mean	mean	VERB
cblr-1707	1673	45	that	that	SCONJ
cblr-1707	1673	46	some	some	DET
cblr-1707	1673	47	classes	class	NOUN
cblr-1707	1673	48	of	of	ADP
cblr-1707	1673	49	users	user	NOUN
cblr-1707	1673	50	,	,	PUNCT
cblr-1707	1673	51	typically	typically	ADV
cblr-1707	1673	52	those	those	PRON
cblr-1707	1673	53	in	in	ADP
cblr-1707	1673	54	higher	high	ADJ
cblr-1707	1673	55	-	-	PUNCT
cblr-1707	1673	56	density	density	NOUN
cblr-1707	1673	57	areas	area	NOUN
cblr-1707	1673	58	,	,	PUNCT
cblr-1707	1673	59	pay	pay	VERB
cblr-1707	1673	60	higher	high	ADJ
cblr-1707	1673	61	prices	price	NOUN
cblr-1707	1673	62	than	than	SCONJ
cblr-1707	1673	63	they	they	PRON
cblr-1707	1673	64	otherwise	otherwise	ADV
cblr-1707	1673	65	would	would	AUX
cblr-1707	1673	66	.	.	PUNCT
cblr-1707	1674	1	the	the	DET
cblr-1707	1674	2	resulting	result	VERB
cblr-1707	1674	3	profits	profit	NOUN
cblr-1707	1674	4	are	be	AUX
cblr-1707	1674	5	then	then	ADV
cblr-1707	1674	6	used	use	VERB
cblr-1707	1674	7	to	to	PART
cblr-1707	1674	8	provide	provide	VERB
cblr-1707	1674	9	below	below	ADP
cblr-1707	1674	10	-	-	PUNCT
cblr-1707	1674	11	cost	cost	NOUN
cblr-1707	1674	12	services	service	NOUN
cblr-1707	1674	13	to	to	ADP
cblr-1707	1674	14	others	other	NOUN
cblr-1707	1674	15	.	.	PUNCT
cblr-1707	1675	1	“	"	PUNCT
cblr-1707	1675	2	[	[	X
cblr-1707	1675	3	i]nternal	i]nternal	ADJ
cblr-1707	1675	4	subsidization	subsidization	NOUN
cblr-1707	1675	5	is	be	AUX
cblr-1707	1675	6	one	one	NUM
cblr-1707	1675	7	method	method	NOUN
cblr-1707	1675	8	whereby	whereby	SCONJ
cblr-1707	1675	9	the	the	DET
cblr-1707	1675	10	expansion	expansion	NOUN
cblr-1707	1675	11	of	of	ADP
cblr-1707	1675	12	the	the	DET
cblr-1707	1675	13	infrastructure	infrastructure	NOUN
cblr-1707	1675	14	services	service	NOUN
cblr-1707	1675	15	can	can	AUX
cblr-1707	1675	16	be	be	AUX
cblr-1707	1675	17	promoted	promote	VERB
cblr-1707	1675	18	,	,	PUNCT
cblr-1707	1675	19	”	"	PUNCT
cblr-1707	1675	20	posner	posner	NOUN
cblr-1707	1675	21	notes.327	notes.327	PROPN
cblr-1707	1675	22	he	he	PRON
cblr-1707	1675	23	concludes	conclude	VERB
cblr-1707	1675	24	that	that	SCONJ
cblr-1707	1675	25	the	the	DET
cblr-1707	1675	26	public	public	ADJ
cblr-1707	1675	27	-	-	PUNCT
cblr-1707	1675	28	finance	finance	NOUN
cblr-1707	1675	29	theory	theory	NOUN
cblr-1707	1675	30	better	well	ADJ
cblr-1707	1675	31	accounts	account	NOUN
cblr-1707	1675	32	for	for	ADP
cblr-1707	1675	33	the	the	DET
cblr-1707	1675	34	basic	basic	ADJ
cblr-1707	1675	35	323	323	NUM
cblr-1707	1675	36	see	see	NOUN
cblr-1707	1675	37	andrew	andrew	PROPN
cblr-1707	1675	38	r.	r.	PROPN
cblr-1707	1675	39	goetz	goetz	PROPN
cblr-1707	1675	40	&	&	CCONJ
cblr-1707	1675	41	timothy	timothy	PROPN
cblr-1707	1675	42	m.	m.	PROPN
cblr-1707	1675	43	vowles	vowles	PROPN
cblr-1707	1675	44	,	,	PUNCT
cblr-1707	1675	45	the	the	DET
cblr-1707	1675	46	good	good	NOUN
cblr-1707	1675	47	,	,	PUNCT
cblr-1707	1675	48	the	the	DET
cblr-1707	1675	49	bad	bad	ADJ
cblr-1707	1675	50	,	,	PUNCT
cblr-1707	1675	51	and	and	CCONJ
cblr-1707	1675	52	the	the	DET
cblr-1707	1675	53	ugly	ugly	ADJ
cblr-1707	1675	54	:	:	PUNCT
cblr-1707	1675	55	30	30	NUM
cblr-1707	1675	56	years	year	NOUN
cblr-1707	1675	57	of	of	ADP
cblr-1707	1675	58	us	us	PROPN
cblr-1707	1675	59	airline	airline	NOUN
cblr-1707	1675	60	deregulation	deregulation	NOUN
cblr-1707	1675	61	,	,	PUNCT
cblr-1707	1675	62	17	17	NUM
cblr-1707	1675	63	j.	j.	PROPN
cblr-1707	1675	64	transp	transp	PROPN
cblr-1707	1675	65	.	.	PUNCT
cblr-1707	1676	1	geography	geography	NOUN
cblr-1707	1676	2	251	251	NUM
cblr-1707	1676	3	,	,	PUNCT
cblr-1707	1676	4	252	252	NUM
cblr-1707	1676	5	(	(	PUNCT
cblr-1707	1676	6	2009	2009	NUM
cblr-1707	1676	7	)	)	PUNCT
cblr-1707	1676	8	,	,	PUNCT
cblr-1707	1676	9	https://www.sciencedirect.com/science/article/pii/	https://www.sciencedirect.com/science/article/pii/	NOUN
cblr-1707	1676	10	s0966692309000386	s0966692309000386	PROPN
cblr-1707	1677	1	[	[	X
cblr-1707	1677	2	https://perma.cc/9f3m-frcq	https://perma.cc/9f3m-frcq	PROPN
cblr-1707	1677	3	]	]	PUNCT
cblr-1707	1677	4	;	;	PUNCT
cblr-1707	1677	5	phillip	phillip	PROPN
cblr-1707	1677	6	longman	longman	PROPN
cblr-1707	1677	7	&	&	CCONJ
cblr-1707	1677	8	lina	lina	PROPN
cblr-1707	1677	9	khan	khan	PROPN
cblr-1707	1677	10	,	,	PUNCT
cblr-1707	1677	11	terminal	terminal	ADJ
cblr-1707	1677	12	sickness	sickness	NOUN
cblr-1707	1677	13	:	:	PUNCT
cblr-1707	1677	14	how	how	SCONJ
cblr-1707	1677	15	a	a	DET
cblr-1707	1677	16	thirty	thirty	NUM
cblr-1707	1677	17	-	-	PUNCT
cblr-1707	1677	18	year	year	NOUN
cblr-1707	1677	19	-	-	PUNCT
cblr-1707	1677	20	old	old	ADJ
cblr-1707	1677	21	policy	policy	NOUN
cblr-1707	1677	22	of	of	ADP
cblr-1707	1677	23	deregulation	deregulation	NOUN
cblr-1707	1677	24	is	be	AUX
cblr-1707	1677	25	slowly	slowly	ADV
cblr-1707	1677	26	killing	kill	VERB
cblr-1707	1677	27	america	america	PROPN
cblr-1707	1677	28	’s	’s	PART
cblr-1707	1677	29	airline	airline	NOUN
cblr-1707	1677	30	system	system	NOUN
cblr-1707	1677	31	,	,	PUNCT
cblr-1707	1677	32	wash	wash	NOUN
cblr-1707	1677	33	.	.	PUNCT
cblr-1707	1677	34	monthly	monthly	ADJ
cblr-1707	1677	35	(	(	PUNCT
cblr-1707	1677	36	mar./apr	mar./apr	PROPN
cblr-1707	1677	37	.	.	PROPN
cblr-1707	1677	38	2012	2012	NUM
cblr-1707	1677	39	)	)	PUNCT
cblr-1707	1677	40	,	,	PUNCT
cblr-1707	1677	41	https://washingtonmonthly.com/magazine/marchapril2012/terminal-sickness	https://washingtonmonthly.com/magazine/marchapril2012/terminal-sickness	PROPN
cblr-1707	1678	1	[	[	X
cblr-1707	1678	2	https://perma.cc/w6z5-huw6	https://perma.cc/w6z5-huw6	X
cblr-1707	1678	3	]	]	X
cblr-1707	1678	4	.	.	PUNCT
cblr-1707	1679	1	324	324	NUM
cblr-1707	1679	2	brett	brett	PROPN
cblr-1707	1679	3	m.	m.	NOUN
cblr-1707	1679	4	frischmann	frischmann	NOUN
cblr-1707	1679	5	,	,	PUNCT
cblr-1707	1679	6	infrastructure	infrastructure	NOUN
cblr-1707	1679	7	:	:	PUNCT
cblr-1707	1679	8	the	the	DET
cblr-1707	1679	9	social	social	ADJ
cblr-1707	1679	10	value	value	NOUN
cblr-1707	1679	11	of	of	ADP
cblr-1707	1679	12	shared	share	VERB
cblr-1707	1679	13	resources	resource	NOUN
cblr-1707	1679	14	223	223	NUM
cblr-1707	1679	15	(	(	PUNCT
cblr-1707	1679	16	2012	2012	NUM
cblr-1707	1679	17	)	)	PUNCT
cblr-1707	1679	18	.	.	PUNCT
cblr-1707	1680	1	325	325	NUM
cblr-1707	1680	2	i	i	PROPN
cblr-1707	1680	3	d.	d.	PROPN
cblr-1707	1680	4	326	326	NUM
cblr-1707	1680	5	richard	richard	PROPN
cblr-1707	1680	6	a.	a.	NOUN
cblr-1707	1680	7	posner	posner	NOUN
cblr-1707	1680	8	,	,	PUNCT
cblr-1707	1680	9	taxation	taxation	NOUN
cblr-1707	1680	10	by	by	ADP
cblr-1707	1680	11	regulation	regulation	NOUN
cblr-1707	1680	12	,	,	PUNCT
cblr-1707	1680	13	2	2	NUM
cblr-1707	1680	14	bell	bell	PROPN
cblr-1707	1680	15	j.	j.	PROPN
cblr-1707	1680	16	econ	econ	PROPN
cblr-1707	1680	17	.	.	PROPN
cblr-1707	1680	18	&	&	CCONJ
cblr-1707	1680	19	mgmt	mgmt	PROPN
cblr-1707	1680	20	.	.	PUNCT
cblr-1707	1681	1	sci	sci	PROPN
cblr-1707	1681	2	.	.	PROPN
cblr-1707	1682	1	22	22	NUM
cblr-1707	1682	2	,	,	PUNCT
cblr-1707	1682	3	39	39	NUM
cblr-1707	1682	4	(	(	PUNCT
cblr-1707	1682	5	1971	1971	NUM
cblr-1707	1682	6	)	)	PUNCT
cblr-1707	1682	7	.	.	PUNCT
cblr-1707	1683	1	327	327	NUM
cblr-1707	1684	1	i	i	PRON
cblr-1707	1684	2	d.	d.	PROPN
cblr-1707	1684	3	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	1684	4	848	848	NUM
cblr-1707	1684	5	columbia	columbia	PROPN
cblr-1707	1684	6	business	business	NOUN
cblr-1707	1684	7	law	law	PROPN
cblr-1707	1684	8	review	review	NOUN
cblr-1707	1684	9	[	[	X
cblr-1707	1684	10	vol	vol	NOUN
cblr-1707	1684	11	.	.	NOUN
cblr-1707	1684	12	2018	2018	NUM
cblr-1707	1684	13	structure	structure	NOUN
cblr-1707	1684	14	of	of	ADP
cblr-1707	1684	15	infrastructure	infrastructure	NOUN
cblr-1707	1684	16	regulation	regulation	NOUN
cblr-1707	1684	17	than	than	SCONJ
cblr-1707	1684	18	do	do	AUX
cblr-1707	1684	19	other	other	ADJ
cblr-1707	1684	20	theories	theory	NOUN
cblr-1707	1684	21	(	(	PUNCT
cblr-1707	1684	22	specifically	specifically	ADV
cblr-1707	1684	23	,	,	PUNCT
cblr-1707	1684	24	the	the	DET
cblr-1707	1684	25	natural	natural	ADJ
cblr-1707	1684	26	monopoly	monopoly	NOUN
cblr-1707	1684	27	/	/	SYM
cblr-1707	1684	28	public	public	ADJ
cblr-1707	1684	29	interest	interest	NOUN
cblr-1707	1684	30	theory	theory	NOUN
cblr-1707	1684	31	and	and	CCONJ
cblr-1707	1684	32	the	the	DET
cblr-1707	1684	33	capture	capture	NOUN
cblr-1707	1684	34	/	/	SYM
cblr-1707	1684	35	public	public	ADJ
cblr-1707	1684	36	choice	choice	NOUN
cblr-1707	1684	37	theory	theory	NOUN
cblr-1707	1684	38	)	)	PUNCT
cblr-1707	1684	39	.	.	PUNCT
cblr-1707	1685	1	“	"	PUNCT
cblr-1707	1685	2	[	[	X
cblr-1707	1685	3	s]ociety	s]ociety	PRON
cblr-1707	1685	4	frequently	frequently	ADV
cblr-1707	1685	5	subjects	subject	NOUN
cblr-1707	1685	6	to	to	ADP
cblr-1707	1685	7	the	the	DET
cblr-1707	1685	8	public	public	ADJ
cblr-1707	1685	9	utility	utility	NOUN
cblr-1707	1685	10	type	type	NOUN
cblr-1707	1685	11	of	of	ADP
cblr-1707	1685	12	control	control	NOUN
cblr-1707	1685	13	services	service	NOUN
cblr-1707	1685	14	that	that	PRON
cblr-1707	1685	15	it	it	PRON
cblr-1707	1685	16	wants	wants	AUX
cblr-1707	1685	17	provided	provide	VERB
cblr-1707	1685	18	on	on	ADP
cblr-1707	1685	19	the	the	DET
cblr-1707	1685	20	broadest	broad	ADJ
cblr-1707	1685	21	possible	possible	ADJ
cblr-1707	1685	22	basis	basis	NOUN
cblr-1707	1685	23	,	,	PUNCT
cblr-1707	1685	24	”	"	PUNCT
cblr-1707	1685	25	posner	posner	NOUN
cblr-1707	1685	26	writes.328	writes.328	NOUN
cblr-1707	1685	27	“	"	PUNCT
cblr-1707	1685	28	the	the	DET
cblr-1707	1685	29	regulated	regulated	ADJ
cblr-1707	1685	30	industries	industry	NOUN
cblr-1707	1685	31	are	be	AUX
cblr-1707	1685	32	part	part	NOUN
cblr-1707	1685	33	of	of	ADP
cblr-1707	1685	34	the	the	DET
cblr-1707	1685	35	‘	'	PUNCT
cblr-1707	1685	36	infrastructure	infrastructure	NOUN
cblr-1707	1685	37	’	'	PUNCT
cblr-1707	1685	38	of	of	ADP
cblr-1707	1685	39	economic	economic	ADJ
cblr-1707	1685	40	growth	growth	NOUN
cblr-1707	1685	41	.	.	PUNCT
cblr-1707	1686	1	”329	”329	PROPN
cblr-1707	1686	2	cross	cross	NOUN
cblr-1707	1686	3	-	-	NOUN
cblr-1707	1686	4	subsidies	subsidy	NOUN
cblr-1707	1686	5	as	as	ADP
cblr-1707	1686	6	a	a	DET
cblr-1707	1686	7	method	method	NOUN
cblr-1707	1686	8	of	of	ADP
cblr-1707	1686	9	finance	finance	NOUN
cblr-1707	1686	10	are	be	AUX
cblr-1707	1686	11	controversial	controversial	ADJ
cblr-1707	1686	12	.	.	PUNCT
cblr-1707	1687	1	(	(	PUNCT
cblr-1707	1687	2	one	one	NUM
cblr-1707	1687	3	noted	note	VERB
cblr-1707	1687	4	scholar	scholar	NOUN
cblr-1707	1687	5	has	have	AUX
cblr-1707	1687	6	described	describe	VERB
cblr-1707	1687	7	cross	cros	NOUN
cblr-1707	1687	8	-	-	NOUN
cblr-1707	1687	9	subsidies	subsidy	NOUN
cblr-1707	1687	10	in	in	ADP
cblr-1707	1687	11	the	the	DET
cblr-1707	1687	12	postal	postal	ADJ
cblr-1707	1687	13	context	context	NOUN
cblr-1707	1687	14	as	as	ADP
cblr-1707	1687	15	“	"	PUNCT
cblr-1707	1687	16	tumorous	tumorous	ADJ
cblr-1707	1687	17	.	.	PUNCT
cblr-1707	1687	18	”330	”330	NOUN
cblr-1707	1687	19	)	)	PUNCT
cblr-1707	1687	20	some	some	DET
cblr-1707	1687	21	users	user	NOUN
cblr-1707	1687	22	must	must	AUX
cblr-1707	1687	23	pay	pay	VERB
cblr-1707	1687	24	prices	price	NOUN
cblr-1707	1687	25	well	well	ADV
cblr-1707	1687	26	above	above	ADP
cblr-1707	1687	27	marginal	marginal	ADJ
cblr-1707	1687	28	cost	cost	NOUN
cblr-1707	1687	29	.	.	PUNCT
cblr-1707	1688	1	this	this	PRON
cblr-1707	1688	2	amounts	amount	VERB
cblr-1707	1688	3	to	to	ADP
cblr-1707	1688	4	an	an	DET
cblr-1707	1688	5	excise	excise	NOUN
cblr-1707	1688	6	tax	tax	NOUN
cblr-1707	1688	7	,	,	PUNCT
cblr-1707	1688	8	which	which	PRON
cblr-1707	1688	9	distorts	distort	VERB
cblr-1707	1688	10	resource	resource	NOUN
cblr-1707	1688	11	allocation	allocation	NOUN
cblr-1707	1688	12	.	.	PUNCT
cblr-1707	1689	1	but	but	CCONJ
cblr-1707	1689	2	posner	posner	NOUN
cblr-1707	1689	3	argues	argue	VERB
cblr-1707	1689	4	convincingly	convincingly	ADV
cblr-1707	1689	5	that	that	SCONJ
cblr-1707	1689	6	this	this	DET
cblr-1707	1689	7	criticism	criticism	NOUN
cblr-1707	1689	8	is	be	AUX
cblr-1707	1689	9	superficial.331	superficial.331	ADJ
cblr-1707	1689	10	given	give	VERB
cblr-1707	1689	11	the	the	DET
cblr-1707	1689	12	decision	decision	NOUN
cblr-1707	1689	13	to	to	PART
cblr-1707	1689	14	subsidize	subsidize	VERB
cblr-1707	1689	15	—	—	PUNCT
cblr-1707	1689	16	which	which	PRON
cblr-1707	1689	17	may	may	AUX
cblr-1707	1689	18	be	be	AUX
cblr-1707	1689	19	justified	justify	VERB
cblr-1707	1689	20	on	on	ADP
cblr-1707	1689	21	efficiency	efficiency	NOUN
cblr-1707	1689	22	or	or	CCONJ
cblr-1707	1689	23	other	other	ADJ
cblr-1707	1689	24	grounds	ground	NOUN
cblr-1707	1689	25	—	—	PUNCT
cblr-1707	1689	26	funding	funding	NOUN
cblr-1707	1689	27	must	must	AUX
cblr-1707	1689	28	come	come	VERB
cblr-1707	1689	29	from	from	ADP
cblr-1707	1689	30	somewhere	somewhere	ADV
cblr-1707	1689	31	.	.	PUNCT
cblr-1707	1690	1	all	all	DET
cblr-1707	1690	2	methods	method	NOUN
cblr-1707	1690	3	of	of	ADP
cblr-1707	1690	4	taxation	taxation	NOUN
cblr-1707	1690	5	distort	distort	NOUN
cblr-1707	1690	6	resource	resource	NOUN
cblr-1707	1690	7	allocation	allocation	NOUN
cblr-1707	1690	8	.	.	PUNCT
cblr-1707	1691	1	it	it	PRON
cblr-1707	1691	2	is	be	AUX
cblr-1707	1691	3	not	not	PART
cblr-1707	1691	4	a	a	DET
cblr-1707	1691	5	priori	priori	ADJ
cblr-1707	1691	6	obvious	obvious	ADJ
cblr-1707	1691	7	that	that	SCONJ
cblr-1707	1691	8	the	the	DET
cblr-1707	1691	9	cross	cross	ADJ
cblr-1707	1691	10	-	-	ADJ
cblr-1707	1691	11	subsidization	subsidization	ADJ
cblr-1707	1691	12	excise	excise	NOUN
cblr-1707	1691	13	“	"	PUNCT
cblr-1707	1691	14	tax	tax	NOUN
cblr-1707	1691	15	”	"	PUNCT
cblr-1707	1691	16	is	be	AUX
cblr-1707	1691	17	more	more	ADV
cblr-1707	1691	18	distortive	distortive	ADJ
cblr-1707	1691	19	than	than	SCONJ
cblr-1707	1691	20	,	,	PUNCT
cblr-1707	1691	21	say	say	INTJ
cblr-1707	1691	22	,	,	PUNCT
cblr-1707	1691	23	raising	raise	VERB
cblr-1707	1691	24	more	more	ADJ
cblr-1707	1691	25	revenue	revenue	NOUN
cblr-1707	1691	26	from	from	ADP
cblr-1707	1691	27	income	income	NOUN
cblr-1707	1691	28	taxation	taxation	NOUN
cblr-1707	1691	29	.	.	PUNCT
cblr-1707	1692	1	it	it	PRON
cblr-1707	1692	2	may	may	AUX
cblr-1707	1692	3	in	in	ADP
cblr-1707	1692	4	fact	fact	NOUN
cblr-1707	1692	5	be	be	AUX
cblr-1707	1692	6	less	less	ADV
cblr-1707	1692	7	distortive	distortive	ADJ
cblr-1707	1692	8	,	,	PUNCT
cblr-1707	1692	9	inasmuch	inasmuch	ADJ
cblr-1707	1692	10	as	as	SCONJ
cblr-1707	1692	11	infrastructure	infrastructure	NOUN
cblr-1707	1692	12	users	user	NOUN
cblr-1707	1692	13	’	'	PUNCT
cblr-1707	1692	14	demand	demand	NOUN
cblr-1707	1692	15	is	be	AUX
cblr-1707	1692	16	often	often	ADV
cblr-1707	1692	17	relatively	relatively	ADV
cblr-1707	1692	18	inelastic.332	inelastic.332	NOUN
cblr-1707	1692	19	on	on	ADP
cblr-1707	1692	20	top	top	NOUN
cblr-1707	1692	21	of	of	ADP
cblr-1707	1692	22	that	that	PRON
cblr-1707	1692	23	,	,	PUNCT
cblr-1707	1692	24	posner	posner	NOUN
cblr-1707	1692	25	argues	argue	VERB
cblr-1707	1692	26	internal	internal	ADJ
cblr-1707	1692	27	subsidization	subsidization	NOUN
cblr-1707	1692	28	has	have	VERB
cblr-1707	1692	29	certain	certain	ADJ
cblr-1707	1692	30	advantages	advantage	NOUN
cblr-1707	1692	31	over	over	ADP
cblr-1707	1692	32	taxation	taxation	NOUN
cblr-1707	1692	33	-	-	PUNCT
cblr-1707	1692	34	plus	plus	CCONJ
cblr-1707	1692	35	-	-	PUNCT
cblr-1707	1692	36	direct	direct	ADJ
cblr-1707	1692	37	-	-	PUNCT
cblr-1707	1692	38	subsidization.333	subsidization.333	NOUN
cblr-1707	1692	39	first	first	ADV
cblr-1707	1692	40	,	,	PUNCT
cblr-1707	1692	41	it	it	PRON
cblr-1707	1692	42	avoids	avoid	VERB
cblr-1707	1692	43	some	some	PRON
cblr-1707	1692	44	of	of	ADP
cblr-1707	1692	45	the	the	DET
cblr-1707	1692	46	administrative	administrative	ADJ
cblr-1707	1692	47	expense	expense	NOUN
cblr-1707	1692	48	of	of	ADP
cblr-1707	1692	49	the	the	DET
cblr-1707	1692	50	formal	formal	ADJ
cblr-1707	1692	51	tax	tax	NOUN
cblr-1707	1692	52	-	-	PUNCT
cblr-1707	1692	53	and	and	CCONJ
cblr-1707	1692	54	-	-	PUNCT
cblr-1707	1692	55	transfer	transfer	NOUN
cblr-1707	1692	56	machinery	machinery	NOUN
cblr-1707	1692	57	.	.	PUNCT
cblr-1707	1693	1	second	second	ADJ
cblr-1707	1693	2	,	,	PUNCT
cblr-1707	1693	3	where	where	SCONJ
cblr-1707	1693	4	averagecost	averagecost	NOUN
cblr-1707	1693	5	pricing	pricing	NOUN
cblr-1707	1693	6	is	be	AUX
cblr-1707	1693	7	adopted	adopt	VERB
cblr-1707	1693	8	(	(	PUNCT
cblr-1707	1693	9	as	as	SCONJ
cblr-1707	1693	10	is	be	AUX
cblr-1707	1693	11	often	often	ADV
cblr-1707	1693	12	the	the	DET
cblr-1707	1693	13	case	case	NOUN
cblr-1707	1693	14	)	)	PUNCT
cblr-1707	1693	15	,	,	PUNCT
cblr-1707	1693	16	crosssubsidization	crosssubsidization	NOUN
cblr-1707	1693	17	avoids	avoid	VERB
cblr-1707	1693	18	the	the	DET
cblr-1707	1693	19	expense	expense	NOUN
cblr-1707	1693	20	of	of	ADP
cblr-1707	1693	21	implementing	implement	VERB
cblr-1707	1693	22	a	a	DET
cblr-1707	1693	23	finegrained	finegraine	VERB
cblr-1707	1693	24	rate	rate	NOUN
cblr-1707	1693	25	structure	structure	NOUN
cblr-1707	1693	26	.	.	PUNCT
cblr-1707	1694	1	third	third	ADJ
cblr-1707	1694	2	,	,	PUNCT
cblr-1707	1694	3	it	it	PRON
cblr-1707	1694	4	frees	free	VERB
cblr-1707	1694	5	up	up	ADP
cblr-1707	1694	6	legislative	legislative	ADJ
cblr-1707	1694	7	resources	resource	NOUN
cblr-1707	1694	8	by	by	ADP
cblr-1707	1694	9	delegating	delegate	VERB
cblr-1707	1694	10	a	a	DET
cblr-1707	1694	11	minor	minor	ADJ
cblr-1707	1694	12	taxing	tax	VERB
cblr-1707	1694	13	function	function	NOUN
cblr-1707	1694	14	to	to	ADP
cblr-1707	1694	15	regulators	regulator	NOUN
cblr-1707	1694	16	.	.	PUNCT
cblr-1707	1695	1	to	to	PART
cblr-1707	1695	2	posner	posner	VERB
cblr-1707	1695	3	’s	’s	PART
cblr-1707	1695	4	list	list	NOUN
cblr-1707	1695	5	of	of	ADP
cblr-1707	1695	6	advantages	advantage	NOUN
cblr-1707	1695	7	i	i	PRON
cblr-1707	1695	8	would	would	AUX
cblr-1707	1695	9	add	add	VERB
cblr-1707	1695	10	one	one	NUM
cblr-1707	1695	11	more	more	ADJ
cblr-1707	1695	12	,	,	PUNCT
cblr-1707	1695	13	related	relate	VERB
cblr-1707	1695	14	to	to	ADP
cblr-1707	1695	15	the	the	DET
cblr-1707	1695	16	last	last	ADJ
cblr-1707	1695	17	one	one	NUM
cblr-1707	1695	18	.	.	PUNCT
cblr-1707	1696	1	by	by	ADP
cblr-1707	1696	2	sidestepping	sidestep	VERB
cblr-1707	1696	3	legislative	legislative	ADJ
cblr-1707	1696	4	appropriations	appropriation	NOUN
cblr-1707	1696	5	,	,	PUNCT
cblr-1707	1696	6	internal	internal	ADJ
cblr-1707	1696	7	cross	cross	NOUN
cblr-1707	1696	8	-	-	ADJ
cblr-1707	1696	9	subsidies	subsidy	NOUN
cblr-1707	1696	10	hive	hive	VERB
cblr-1707	1696	11	off	off	ADP
cblr-1707	1696	12	infrastructure	infrastructure	NOUN
cblr-1707	1696	13	resources	resource	NOUN
cblr-1707	1696	14	into	into	ADP
cblr-1707	1696	15	self	self	NOUN
cblr-1707	1696	16	-	-	PUNCT
cblr-1707	1696	17	contained	contain	VERB
cblr-1707	1696	18	systems	system	NOUN
cblr-1707	1696	19	that	that	PRON
cblr-1707	1696	20	are	be	AUX
cblr-1707	1696	21	relatively	relatively	ADV
cblr-1707	1696	22	insulated	insulated	ADJ
cblr-1707	1696	23	from	from	ADP
cblr-1707	1696	24	normal	normal	ADJ
cblr-1707	1696	25	political	political	ADJ
cblr-1707	1696	26	processes	process	NOUN
cblr-1707	1696	27	.	.	PUNCT
cblr-1707	1697	1	the	the	DET
cblr-1707	1697	2	328	328	NUM
cblr-1707	1697	3	i	i	PROPN
cblr-1707	1697	4	d.	d.	PROPN
cblr-1707	1697	5	329	329	NUM
cblr-1707	1698	1	i	i	PRON
cblr-1707	1698	2	d.	d.	PROPN
cblr-1707	1698	3	330	330	NUM
cblr-1707	1698	4	priest	priest	NOUN
cblr-1707	1698	5	,	,	PUNCT
cblr-1707	1698	6	supra	supra	PROPN
cblr-1707	1698	7	note	note	PROPN
cblr-1707	1698	8	290	290	NUM
cblr-1707	1698	9	,	,	PUNCT
cblr-1707	1698	10	at	at	ADP
cblr-1707	1698	11	56	56	NUM
cblr-1707	1698	12	.	.	PUNCT
cblr-1707	1698	13	331	331	NUM
cblr-1707	1698	14	see	see	VERB
cblr-1707	1698	15	posner	posner	NOUN
cblr-1707	1698	16	,	,	PUNCT
cblr-1707	1698	17	supra	supra	PROPN
cblr-1707	1698	18	note	note	PROPN
cblr-1707	1698	19	326	326	NUM
cblr-1707	1698	20	,	,	PUNCT
cblr-1707	1698	21	at	at	ADP
cblr-1707	1698	22	42	42	NUM
cblr-1707	1698	23	.	.	PUNCT
cblr-1707	1699	1	332	332	NUM
cblr-1707	1699	2	see	see	VERB
cblr-1707	1699	3	i	i	PRON
cblr-1707	1699	4	d.	d.	PROPN
cblr-1707	1699	5	333	333	NUM
cblr-1707	1699	6	see	see	VERB
cblr-1707	1699	7	i	i	PRON
cblr-1707	1699	8	d.	d.	PROPN
cblr-1707	1699	9	at	at	ADP
cblr-1707	1699	10	45	45	NUM
cblr-1707	1699	11	.	.	NOUN
cblr-1707	1699	12	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	1699	13	no	no	NOUN
cblr-1707	1699	14	.	.	PUNCT
cblr-1707	1700	1	3:757	3:757	NUM
cblr-1707	1700	2	]	]	X
cblr-1707	1700	3	money	money	NOUN
cblr-1707	1700	4	as	as	ADP
cblr-1707	1700	5	infrastructure	infrastructure	NOUN
cblr-1707	1700	6	849	849	NUM
cblr-1707	1700	7	rationale	rationale	NOUN
cblr-1707	1700	8	for	for	ADP
cblr-1707	1700	9	structuring	structure	VERB
cblr-1707	1700	10	things	thing	NOUN
cblr-1707	1700	11	this	this	DET
cblr-1707	1700	12	way	way	NOUN
cblr-1707	1700	13	mirrors	mirror	VERB
cblr-1707	1700	14	the	the	DET
cblr-1707	1700	15	standard	standard	ADJ
cblr-1707	1700	16	rationale	rationale	NOUN
cblr-1707	1700	17	for	for	ADP
cblr-1707	1700	18	administrative	administrative	ADJ
cblr-1707	1700	19	independence	independence	NOUN
cblr-1707	1700	20	.	.	PUNCT
cblr-1707	1701	1	it	it	PRON
cblr-1707	1701	2	is	be	AUX
cblr-1707	1701	3	a	a	DET
cblr-1707	1701	4	form	form	NOUN
cblr-1707	1701	5	of	of	ADP
cblr-1707	1701	6	commitment	commitment	NOUN
cblr-1707	1701	7	device	device	NOUN
cblr-1707	1701	8	—	—	PUNCT
cblr-1707	1701	9	a	a	DET
cblr-1707	1701	10	way	way	NOUN
cblr-1707	1701	11	of	of	ADP
cblr-1707	1701	12	reducing	reduce	VERB
cblr-1707	1701	13	the	the	DET
cblr-1707	1701	14	chances	chance	NOUN
cblr-1707	1701	15	that	that	SCONJ
cblr-1707	1701	16	short	short	ADJ
cblr-1707	1701	17	-	-	PUNCT
cblr-1707	1701	18	term	term	NOUN
cblr-1707	1701	19	political	political	ADJ
cblr-1707	1701	20	expediencies	expediency	NOUN
cblr-1707	1701	21	will	will	AUX
cblr-1707	1701	22	have	have	VERB
cblr-1707	1701	23	longer	long	ADJ
cblr-1707	1701	24	-	-	PUNCT
cblr-1707	1701	25	term	term	NOUN
cblr-1707	1701	26	deleterious	deleterious	ADJ
cblr-1707	1701	27	effects	effect	NOUN
cblr-1707	1701	28	on	on	ADP
cblr-1707	1701	29	certain	certain	ADJ
cblr-1707	1701	30	types	type	NOUN
cblr-1707	1701	31	of	of	ADP
cblr-1707	1701	32	government	government	NOUN
cblr-1707	1701	33	functions	function	NOUN
cblr-1707	1701	34	.	.	PUNCT
cblr-1707	1702	1	with	with	ADP
cblr-1707	1702	2	annual	annual	ADJ
cblr-1707	1702	3	legislative	legislative	ADJ
cblr-1707	1702	4	appropriations	appropriation	NOUN
cblr-1707	1702	5	,	,	PUNCT
cblr-1707	1702	6	the	the	DET
cblr-1707	1702	7	legislature	legislature	NOUN
cblr-1707	1702	8	must	must	AUX
cblr-1707	1702	9	affirmatively	affirmatively	ADV
cblr-1707	1702	10	and	and	CCONJ
cblr-1707	1702	11	continually	continually	ADV
cblr-1707	1702	12	act	act	VERB
cblr-1707	1702	13	for	for	ADP
cblr-1707	1702	14	the	the	DET
cblr-1707	1702	15	flow	flow	NOUN
cblr-1707	1702	16	of	of	ADP
cblr-1707	1702	17	public	public	ADJ
cblr-1707	1702	18	finance	finance	NOUN
cblr-1707	1702	19	to	to	PART
cblr-1707	1702	20	continue	continue	VERB
cblr-1707	1702	21	.	.	PUNCT
cblr-1707	1703	1	administered	administer	VERB
cblr-1707	1703	2	cross	cross	ADJ
cblr-1707	1703	3	-	-	ADJ
cblr-1707	1703	4	subsidies	subsidy	NOUN
cblr-1707	1703	5	reverse	reverse	VERB
cblr-1707	1703	6	the	the	DET
cblr-1707	1703	7	default	default	NOUN
cblr-1707	1703	8	:	:	PUNCT
cblr-1707	1703	9	the	the	DET
cblr-1707	1703	10	legislature	legislature	NOUN
cblr-1707	1703	11	must	must	AUX
cblr-1707	1703	12	act	act	VERB
cblr-1707	1703	13	to	to	PART
cblr-1707	1703	14	end	end	VERB
cblr-1707	1703	15	them	they	PRON
cblr-1707	1703	16	.	.	PUNCT
cblr-1707	1704	1	the	the	DET
cblr-1707	1704	2	latter	latter	ADJ
cblr-1707	1704	3	method	method	NOUN
cblr-1707	1704	4	of	of	ADP
cblr-1707	1704	5	finance	finance	NOUN
cblr-1707	1704	6	should	should	AUX
cblr-1707	1704	7	be	be	AUX
cblr-1707	1704	8	more	more	ADV
cblr-1707	1704	9	durable	durable	ADJ
cblr-1707	1704	10	.	.	PUNCT
cblr-1707	1705	1	and	and	CCONJ
cblr-1707	1705	2	greater	great	ADJ
cblr-1707	1705	3	expected	expect	VERB
cblr-1707	1705	4	durability	durability	NOUN
cblr-1707	1705	5	promotes	promote	VERB
cblr-1707	1705	6	efficient	efficient	ADJ
cblr-1707	1705	7	reliance	reliance	NOUN
cblr-1707	1705	8	ex	ex	X
cblr-1707	1705	9	ante	ante	NOUN
cblr-1707	1705	10	,	,	PUNCT
cblr-1707	1705	11	encouraging	encourage	VERB
cblr-1707	1705	12	the	the	DET
cblr-1707	1705	13	growth	growth	NOUN
cblr-1707	1705	14	of	of	ADP
cblr-1707	1705	15	infrastructure	infrastructure	NOUN
cblr-1707	1705	16	-	-	PUNCT
cblr-1707	1705	17	dependent	dependent	ADJ
cblr-1707	1705	18	systems	system	NOUN
cblr-1707	1705	19	and	and	CCONJ
cblr-1707	1705	20	thus	thus	ADV
cblr-1707	1705	21	augmenting	augment	VERB
cblr-1707	1705	22	downstream	downstream	ADJ
cblr-1707	1705	23	spillovers	spillover	NOUN
cblr-1707	1705	24	.	.	PUNCT
cblr-1707	1706	1	to	to	PART
cblr-1707	1706	2	be	be	AUX
cblr-1707	1706	3	sure	sure	ADJ
cblr-1707	1706	4	,	,	PUNCT
cblr-1707	1706	5	greater	great	ADJ
cblr-1707	1706	6	durability	durability	NOUN
cblr-1707	1706	7	does	do	AUX
cblr-1707	1706	8	not	not	PART
cblr-1707	1706	9	mean	mean	VERB
cblr-1707	1706	10	permanence	permanence	NOUN
cblr-1707	1706	11	.	.	PUNCT
cblr-1707	1707	1	the	the	DET
cblr-1707	1707	2	deregulatory	deregulatory	ADJ
cblr-1707	1707	3	wave	wave	NOUN
cblr-1707	1707	4	of	of	ADP
cblr-1707	1707	5	the	the	DET
cblr-1707	1707	6	late	late	ADJ
cblr-1707	1707	7	twentieth	twentieth	ADJ
cblr-1707	1707	8	century	century	NOUN
cblr-1707	1707	9	showed	show	VERB
cblr-1707	1707	10	that	that	SCONJ
cblr-1707	1707	11	internal	internal	ADJ
cblr-1707	1707	12	crosssubsidies	crosssubsidie	NOUN
cblr-1707	1707	13	may	may	AUX
cblr-1707	1707	14	succumb	succumb	VERB
cblr-1707	1707	15	to	to	ADP
cblr-1707	1707	16	sustained	sustain	VERB
cblr-1707	1707	17	ideological	ideological	ADJ
cblr-1707	1707	18	assault	assault	NOUN
cblr-1707	1707	19	.	.	PUNCT
cblr-1707	1708	1	but	but	CCONJ
cblr-1707	1708	2	surely	surely	ADV
cblr-1707	1708	3	direct	direct	ADJ
cblr-1707	1708	4	public	public	ADJ
cblr-1707	1708	5	subsidies	subsidy	NOUN
cblr-1707	1708	6	would	would	AUX
cblr-1707	1708	7	have	have	AUX
cblr-1707	1708	8	proved	prove	VERB
cblr-1707	1708	9	even	even	ADV
cblr-1707	1708	10	less	less	ADV
cblr-1707	1708	11	resilient	resilient	ADJ
cblr-1707	1708	12	.	.	PUNCT
cblr-1707	1709	1	at	at	ADP
cblr-1707	1709	2	any	any	DET
cblr-1707	1709	3	rate	rate	NOUN
cblr-1707	1709	4	,	,	PUNCT
cblr-1707	1709	5	these	these	DET
cblr-1707	1709	6	questions	question	NOUN
cblr-1707	1709	7	of	of	ADP
cblr-1707	1709	8	funding	funding	NOUN
cblr-1707	1709	9	are	be	AUX
cblr-1707	1709	10	moot	moot	ADJ
cblr-1707	1709	11	in	in	ADP
cblr-1707	1709	12	the	the	DET
cblr-1707	1709	13	case	case	NOUN
cblr-1707	1709	14	at	at	ADP
cblr-1707	1709	15	hand	hand	NOUN
cblr-1707	1709	16	.	.	PUNCT
cblr-1707	1710	1	in	in	ADP
cblr-1707	1710	2	the	the	DET
cblr-1707	1710	3	fully	fully	ADV
cblr-1707	1710	4	insourced	insourced	ADJ
cblr-1707	1710	5	setting	setting	NOUN
cblr-1707	1710	6	described	describe	VERB
cblr-1707	1710	7	above	above	ADV
cblr-1707	1710	8	,	,	PUNCT
cblr-1707	1710	9	the	the	DET
cblr-1707	1710	10	cost	cost	NOUN
cblr-1707	1710	11	of	of	ADP
cblr-1707	1710	12	universal	universal	ADJ
cblr-1707	1710	13	service	service	NOUN
cblr-1707	1710	14	would	would	AUX
cblr-1707	1710	15	be	be	AUX
cblr-1707	1710	16	just	just	ADV
cblr-1707	1710	17	another	another	DET
cblr-1707	1710	18	expense	expense	NOUN
cblr-1707	1710	19	item	item	NOUN
cblr-1707	1710	20	for	for	ADP
cblr-1707	1710	21	the	the	DET
cblr-1707	1710	22	central	central	ADJ
cblr-1707	1710	23	bank	bank	NOUN
cblr-1707	1710	24	,	,	PUNCT
cblr-1707	1710	25	deducted	deduct	VERB
cblr-1707	1710	26	from	from	ADP
cblr-1707	1710	27	the	the	DET
cblr-1707	1710	28	central	central	PROPN
cblr-1707	1710	29	bank	bank	NOUN
cblr-1707	1710	30	’s	’s	PART
cblr-1707	1710	31	portfolio	portfolio	NOUN
cblr-1707	1710	32	earnings	earning	NOUN
cblr-1707	1710	33	before	before	SCONJ
cblr-1707	1710	34	those	those	DET
cblr-1707	1710	35	earnings	earning	NOUN
cblr-1707	1710	36	are	be	AUX
cblr-1707	1710	37	remitted	remit	VERB
cblr-1707	1710	38	to	to	ADP
cblr-1707	1710	39	the	the	DET
cblr-1707	1710	40	fiscal	fiscal	ADJ
cblr-1707	1710	41	authority	authority	NOUN
cblr-1707	1710	42	.	.	PUNCT
cblr-1707	1711	1	in	in	ADP
cblr-1707	1711	2	effect	effect	NOUN
cblr-1707	1711	3	,	,	PUNCT
cblr-1707	1711	4	universal	universal	ADJ
cblr-1707	1711	5	service	service	NOUN
cblr-1707	1711	6	would	would	AUX
cblr-1707	1711	7	be	be	AUX
cblr-1707	1711	8	funded	fund	VERB
cblr-1707	1711	9	out	out	ADP
cblr-1707	1711	10	of	of	ADP
cblr-1707	1711	11	general	general	ADJ
cblr-1707	1711	12	revenue	revenue	NOUN
cblr-1707	1711	13	,	,	PUNCT
cblr-1707	1711	14	through	through	ADP
cblr-1707	1711	15	a	a	DET
cblr-1707	1711	16	reduction	reduction	NOUN
cblr-1707	1711	17	in	in	ADP
cblr-1707	1711	18	seigniorage	seigniorage	NOUN
cblr-1707	1711	19	.	.	PUNCT
cblr-1707	1712	1	presumably	presumably	ADV
cblr-1707	1712	2	,	,	PUNCT
cblr-1707	1712	3	this	this	PRON
cblr-1707	1712	4	would	would	AUX
cblr-1707	1712	5	continue	continue	VERB
cblr-1707	1712	6	to	to	PART
cblr-1707	1712	7	be	be	AUX
cblr-1707	1712	8	true	true	ADJ
cblr-1707	1712	9	under	under	ADP
cblr-1707	1712	10	outsourcing	outsourcing	NOUN
cblr-1707	1712	11	.	.	PUNCT
cblr-1707	1713	1	as	as	SCONJ
cblr-1707	1713	2	described	describe	VERB
cblr-1707	1713	3	in	in	ADP
cblr-1707	1713	4	part	part	PROPN
cblr-1707	1713	5	ii	ii	PROPN
cblr-1707	1713	6	,	,	PUNCT
cblr-1707	1713	7	in	in	ADP
cblr-1707	1713	8	a	a	DET
cblr-1707	1713	9	demsetz	demsetz	ADJ
cblr-1707	1713	10	auction	auction	NOUN
cblr-1707	1713	11	framework	framework	NOUN
cblr-1707	1713	12	,	,	PUNCT
cblr-1707	1713	13	the	the	DET
cblr-1707	1713	14	government	government	NOUN
cblr-1707	1713	15	continues	continue	VERB
cblr-1707	1713	16	to	to	PART
cblr-1707	1713	17	accrue	accrue	VERB
cblr-1707	1713	18	seigniorage	seigniorage	NOUN
cblr-1707	1713	19	revenue	revenue	NOUN
cblr-1707	1713	20	from	from	ADP
cblr-1707	1713	21	chartered	charter	VERB
cblr-1707	1713	22	banks	bank	NOUN
cblr-1707	1713	23	.	.	PUNCT
cblr-1707	1714	1	this	this	DET
cblr-1707	1714	2	amount	amount	NOUN
cblr-1707	1714	3	equates	equate	VERB
cblr-1707	1714	4	to	to	ADP
cblr-1707	1714	5	rf	rf	NOUN
cblr-1707	1714	6	+	+	CCONJ
cblr-1707	1714	7	p	p	X
cblr-1707	1714	8	–	–	PUNCT
cblr-1707	1714	9	d	d	NOUN
cblr-1707	1714	10	,	,	PUNCT
cblr-1707	1714	11	where	where	SCONJ
cblr-1707	1714	12	rf	rf	NOUN
cblr-1707	1714	13	is	be	AUX
cblr-1707	1714	14	the	the	DET
cblr-1707	1714	15	risk	risk	NOUN
cblr-1707	1714	16	-	-	PUNCT
cblr-1707	1714	17	free	free	ADJ
cblr-1707	1714	18	rate	rate	NOUN
cblr-1707	1714	19	corresponding	correspond	VERB
cblr-1707	1714	20	to	to	ADP
cblr-1707	1714	21	the	the	DET
cblr-1707	1714	22	bank	bank	NOUN
cblr-1707	1714	23	’s	’s	PART
cblr-1707	1714	24	asset	asset	PROPN
cblr-1707	1714	25	portfolio	portfolio	NOUN
cblr-1707	1714	26	duration	duration	NOUN
cblr-1707	1714	27	,	,	PUNCT
cblr-1707	1714	28	p	p	PROPN
cblr-1707	1714	29	is	be	AUX
cblr-1707	1714	30	the	the	DET
cblr-1707	1714	31	risk	risk	NOUN
cblr-1707	1714	32	premium	premium	NOUN
cblr-1707	1714	33	,	,	PUNCT
cblr-1707	1714	34	and	and	CCONJ
cblr-1707	1714	35	d	d	NOUN
cblr-1707	1714	36	is	be	AUX
cblr-1707	1714	37	the	the	DET
cblr-1707	1714	38	administered	administered	ADJ
cblr-1707	1714	39	deposit	deposit	NOUN
cblr-1707	1714	40	rate.334	rate.334	NOUN
cblr-1707	1714	41	funding	fund	VERB
cblr-1707	1714	42	universal	universal	ADJ
cblr-1707	1714	43	service	service	NOUN
cblr-1707	1714	44	out	out	ADP
cblr-1707	1714	45	of	of	ADP
cblr-1707	1714	46	general	general	ADJ
cblr-1707	1714	47	revenue	revenue	NOUN
cblr-1707	1714	48	would	would	AUX
cblr-1707	1714	49	mean	mean	VERB
cblr-1707	1714	50	folding	fold	VERB
cblr-1707	1714	51	its	its	PRON
cblr-1707	1714	52	cost	cost	NOUN
cblr-1707	1714	53	into	into	ADP
cblr-1707	1714	54	d	d	PROPN
cblr-1707	1714	55	;	;	PUNCT
cblr-1707	1714	56	in	in	ADP
cblr-1707	1714	57	other	other	ADJ
cblr-1707	1714	58	words	word	NOUN
cblr-1707	1714	59	,	,	PUNCT
cblr-1707	1714	60	reducing	reduce	VERB
cblr-1707	1714	61	banks	bank	NOUN
cblr-1707	1714	62	’	’	PART
cblr-1707	1714	63	periodic	periodic	ADJ
cblr-1707	1714	64	seigniorage	seigniorage	NOUN
cblr-1707	1714	65	payments	payment	NOUN
cblr-1707	1714	66	to	to	ADP
cblr-1707	1714	67	the	the	DET
cblr-1707	1714	68	government	government	NOUN
cblr-1707	1714	69	.	.	PUNCT
cblr-1707	1715	1	334	334	NUM
cblr-1707	1715	2	see	see	VERB
cblr-1707	1715	3	supra	supra	PROPN
cblr-1707	1715	4	notes	note	VERB
cblr-1707	1715	5	134–135	134–135	NUM
cblr-1707	1715	6	and	and	CCONJ
cblr-1707	1715	7	accompanying	accompany	VERB
cblr-1707	1715	8	text	text	NOUN
cblr-1707	1715	9	.	.	PUNCT
cblr-1707	1716	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	1716	2	850	850	NUM
cblr-1707	1716	3	columbia	columbia	PROPN
cblr-1707	1716	4	business	business	NOUN
cblr-1707	1716	5	law	law	PROPN
cblr-1707	1716	6	review	review	NOUN
cblr-1707	1716	7	[	[	X
cblr-1707	1716	8	vol	vol	NOUN
cblr-1707	1716	9	.	.	NOUN
cblr-1707	1716	10	2018	2018	NUM
cblr-1707	1716	11	implementation	implementation	NOUN
cblr-1707	1716	12	would	would	AUX
cblr-1707	1716	13	present	present	VERB
cblr-1707	1716	14	some	some	DET
cblr-1707	1716	15	challenges	challenge	NOUN
cblr-1707	1716	16	,	,	PUNCT
cblr-1707	1716	17	but	but	CCONJ
cblr-1707	1716	18	this	this	PRON
cblr-1707	1716	19	is	be	AUX
cblr-1707	1716	20	equally	equally	ADV
cblr-1707	1716	21	true	true	ADJ
cblr-1707	1716	22	in	in	ADP
cblr-1707	1716	23	all	all	DET
cblr-1707	1716	24	the	the	DET
cblr-1707	1716	25	infrastructural	infrastructural	ADJ
cblr-1707	1716	26	contexts	context	NOUN
cblr-1707	1716	27	mentioned	mention	VERB
cblr-1707	1716	28	above.335	above.335	NUM
cblr-1707	1716	29	regulators	regulator	NOUN
cblr-1707	1716	30	would	would	AUX
cblr-1707	1716	31	have	have	VERB
cblr-1707	1716	32	to	to	PART
cblr-1707	1716	33	devise	devise	VERB
cblr-1707	1716	34	ways	way	NOUN
cblr-1707	1716	35	of	of	ADP
cblr-1707	1716	36	measuring	measure	VERB
cblr-1707	1716	37	banks	bank	NOUN
cblr-1707	1716	38	’	'	PUNCT
cblr-1707	1716	39	compliance	compliance	NOUN
cblr-1707	1716	40	with	with	ADP
cblr-1707	1716	41	universal	universal	ADJ
cblr-1707	1716	42	service	service	NOUN
cblr-1707	1716	43	mandates	mandate	NOUN
cblr-1707	1716	44	.	.	PUNCT
cblr-1707	1717	1	where	where	SCONJ
cblr-1707	1717	2	multiple	multiple	ADJ
cblr-1707	1717	3	banks	bank	NOUN
cblr-1707	1717	4	operate	operate	VERB
cblr-1707	1717	5	within	within	ADP
cblr-1707	1717	6	a	a	DET
cblr-1707	1717	7	single	single	ADJ
cblr-1707	1717	8	geographic	geographic	ADJ
cblr-1707	1717	9	area	area	NOUN
cblr-1707	1717	10	,	,	PUNCT
cblr-1707	1717	11	some	some	DET
cblr-1707	1717	12	method	method	NOUN
cblr-1707	1717	13	of	of	ADP
cblr-1707	1717	14	allocation	allocation	NOUN
cblr-1707	1717	15	would	would	AUX
cblr-1707	1717	16	be	be	AUX
cblr-1707	1717	17	needed	need	VERB
cblr-1707	1717	18	.	.	PUNCT
cblr-1707	1718	1	this	this	DET
cblr-1707	1718	2	issue	issue	NOUN
cblr-1707	1718	3	is	be	AUX
cblr-1707	1718	4	manageable	manageable	ADJ
cblr-1707	1718	5	;	;	PUNCT
cblr-1707	1718	6	transportation	transportation	NOUN
cblr-1707	1718	7	regulators	regulator	NOUN
cblr-1707	1718	8	dealt	deal	VERB
cblr-1707	1718	9	with	with	ADP
cblr-1707	1718	10	similar	similar	ADJ
cblr-1707	1718	11	issues	issue	NOUN
cblr-1707	1718	12	in	in	ADP
cblr-1707	1718	13	allocating	allocate	VERB
cblr-1707	1718	14	airline	airline	NOUN
cblr-1707	1718	15	and	and	CCONJ
cblr-1707	1718	16	motor	motor	NOUN
cblr-1707	1718	17	carrier	carrier	NOUN
cblr-1707	1718	18	routes	route	NOUN
cblr-1707	1718	19	prior	prior	ADV
cblr-1707	1718	20	to	to	ADP
cblr-1707	1718	21	deregulation	deregulation	NOUN
cblr-1707	1718	22	.	.	PUNCT
cblr-1707	1719	1	it	it	PRON
cblr-1707	1719	2	is	be	AUX
cblr-1707	1719	3	not	not	PART
cblr-1707	1719	4	my	my	PRON
cblr-1707	1719	5	purpose	purpose	NOUN
cblr-1707	1719	6	to	to	PART
cblr-1707	1719	7	spell	spell	VERB
cblr-1707	1719	8	out	out	ADP
cblr-1707	1719	9	in	in	ADP
cblr-1707	1719	10	detail	detail	NOUN
cblr-1707	1719	11	how	how	SCONJ
cblr-1707	1719	12	a	a	DET
cblr-1707	1719	13	universal	universal	ADJ
cblr-1707	1719	14	service	service	NOUN
cblr-1707	1719	15	mandate	mandate	NOUN
cblr-1707	1719	16	might	might	AUX
cblr-1707	1719	17	be	be	AUX
cblr-1707	1719	18	implemented	implement	VERB
cblr-1707	1719	19	in	in	ADP
cblr-1707	1719	20	the	the	DET
cblr-1707	1719	21	bank	bank	NOUN
cblr-1707	1719	22	account	account	NOUN
cblr-1707	1719	23	context	context	NOUN
cblr-1707	1719	24	.	.	PUNCT
cblr-1707	1720	1	rather	rather	ADV
cblr-1707	1720	2	,	,	PUNCT
cblr-1707	1720	3	i	i	PRON
cblr-1707	1720	4	have	have	AUX
cblr-1707	1720	5	sought	seek	VERB
cblr-1707	1720	6	to	to	PART
cblr-1707	1720	7	show	show	VERB
cblr-1707	1720	8	that	that	SCONJ
cblr-1707	1720	9	there	there	PRON
cblr-1707	1720	10	are	be	VERB
cblr-1707	1720	11	established	establish	VERB
cblr-1707	1720	12	regulatory	regulatory	ADJ
cblr-1707	1720	13	models	model	NOUN
cblr-1707	1720	14	for	for	ADP
cblr-1707	1720	15	bringing	bring	VERB
cblr-1707	1720	16	universal	universal	ADJ
cblr-1707	1720	17	service	service	NOUN
cblr-1707	1720	18	to	to	ADP
cblr-1707	1720	19	the	the	DET
cblr-1707	1720	20	mainstream	mainstream	NOUN
cblr-1707	1720	21	payment	payment	NOUN
cblr-1707	1720	22	system	system	NOUN
cblr-1707	1720	23	—	—	PUNCT
cblr-1707	1720	24	and	and	CCONJ
cblr-1707	1720	25	that	that	SCONJ
cblr-1707	1720	26	there	there	PRON
cblr-1707	1720	27	are	be	VERB
cblr-1707	1720	28	powerful	powerful	ADJ
cblr-1707	1720	29	reasons	reason	NOUN
cblr-1707	1720	30	to	to	PART
cblr-1707	1720	31	consider	consider	VERB
cblr-1707	1720	32	doing	do	VERB
cblr-1707	1720	33	so	so	ADV
cblr-1707	1720	34	.	.	PUNCT
cblr-1707	1721	1	stepping	step	VERB
cblr-1707	1721	2	back	back	ADV
cblr-1707	1721	3	,	,	PUNCT
cblr-1707	1721	4	one	one	PRON
cblr-1707	1721	5	again	again	ADV
cblr-1707	1721	6	sees	see	VERB
cblr-1707	1721	7	that	that	SCONJ
cblr-1707	1721	8	the	the	DET
cblr-1707	1721	9	money	money	NOUN
cblr-1707	1721	10	paradigm	paradigm	NOUN
cblr-1707	1721	11	affords	afford	VERB
cblr-1707	1721	12	a	a	DET
cblr-1707	1721	13	perspective	perspective	NOUN
cblr-1707	1721	14	on	on	ADP
cblr-1707	1721	15	bank	bank	NOUN
cblr-1707	1721	16	regulation	regulation	NOUN
cblr-1707	1721	17	that	that	PRON
cblr-1707	1721	18	differs	differ	VERB
cblr-1707	1721	19	fundamentally	fundamentally	ADV
cblr-1707	1721	20	from	from	ADP
cblr-1707	1721	21	the	the	DET
cblr-1707	1721	22	intermediation	intermediation	NOUN
cblr-1707	1721	23	paradigm	paradigm	NOUN
cblr-1707	1721	24	.	.	PUNCT
cblr-1707	1722	1	in	in	ADP
cblr-1707	1722	2	the	the	DET
cblr-1707	1722	3	intermediation	intermediation	NOUN
cblr-1707	1722	4	paradigm	paradigm	NOUN
cblr-1707	1722	5	,	,	PUNCT
cblr-1707	1722	6	access	access	NOUN
cblr-1707	1722	7	to	to	ADP
cblr-1707	1722	8	bank	bank	NOUN
cblr-1707	1722	9	accounts	account	NOUN
cblr-1707	1722	10	—	—	PUNCT
cblr-1707	1722	11	the	the	DET
cblr-1707	1722	12	core	core	NOUN
cblr-1707	1722	13	of	of	ADP
cblr-1707	1722	14	the	the	DET
cblr-1707	1722	15	mainstream	mainstream	NOUN
cblr-1707	1722	16	payment	payment	NOUN
cblr-1707	1722	17	system	system	NOUN
cblr-1707	1722	18	—	—	PUNCT
cblr-1707	1722	19	is	be	AUX
cblr-1707	1722	20	a	a	DET
cblr-1707	1722	21	matter	matter	NOUN
cblr-1707	1722	22	of	of	ADP
cblr-1707	1722	23	private	private	ADJ
cblr-1707	1722	24	concern	concern	NOUN
cblr-1707	1722	25	.	.	PUNCT
cblr-1707	1723	1	it	it	PRON
cblr-1707	1723	2	is	be	AUX
cblr-1707	1723	3	up	up	ADP
cblr-1707	1723	4	to	to	ADP
cblr-1707	1723	5	the	the	DET
cblr-1707	1723	6	banks	bank	NOUN
cblr-1707	1723	7	to	to	PART
cblr-1707	1723	8	decide	decide	VERB
cblr-1707	1723	9	which	which	DET
cblr-1707	1723	10	customers	customer	NOUN
cblr-1707	1723	11	to	to	PART
cblr-1707	1723	12	serve	serve	VERB
cblr-1707	1723	13	.	.	PUNCT
cblr-1707	1724	1	naturally	naturally	ADV
cblr-1707	1724	2	,	,	PUNCT
cblr-1707	1724	3	unprofitable	unprofitable	ADJ
cblr-1707	1724	4	customers	customer	NOUN
cblr-1707	1724	5	do	do	AUX
cblr-1707	1724	6	not	not	PART
cblr-1707	1724	7	get	get	VERB
cblr-1707	1724	8	access	access	NOUN
cblr-1707	1724	9	.	.	PUNCT
cblr-1707	1725	1	public	public	ADJ
cblr-1707	1725	2	interference	interference	NOUN
cblr-1707	1725	3	in	in	ADP
cblr-1707	1725	4	such	such	ADJ
cblr-1707	1725	5	matters	matter	NOUN
cblr-1707	1725	6	is	be	AUX
cblr-1707	1725	7	presumptively	presumptively	ADV
cblr-1707	1725	8	disfavored	disfavor	VERB
cblr-1707	1725	9	.	.	PUNCT
cblr-1707	1726	1	the	the	DET
cblr-1707	1726	2	money	money	NOUN
cblr-1707	1726	3	paradigm	paradigm	NOUN
cblr-1707	1726	4	,	,	PUNCT
cblr-1707	1726	5	which	which	PRON
cblr-1707	1726	6	envisages	envisage	VERB
cblr-1707	1726	7	a	a	DET
cblr-1707	1726	8	bank	bank	NOUN
cblr-1707	1726	9	charter	charter	NOUN
cblr-1707	1726	10	as	as	ADP
cblr-1707	1726	11	a	a	DET
cblr-1707	1726	12	monetary	monetary	ADJ
cblr-1707	1726	13	outsourcing	outsourcing	NOUN
cblr-1707	1726	14	contract	contract	NOUN
cblr-1707	1726	15	,	,	PUNCT
cblr-1707	1726	16	offers	offer	VERB
cblr-1707	1726	17	a	a	DET
cblr-1707	1726	18	very	very	ADV
cblr-1707	1726	19	different	different	ADJ
cblr-1707	1726	20	vantage	vantage	NOUN
cblr-1707	1726	21	point	point	NOUN
cblr-1707	1726	22	.	.	PUNCT
cblr-1707	1727	1	universal	universal	ADJ
cblr-1707	1727	2	service	service	NOUN
cblr-1707	1727	3	becomes	become	VERB
cblr-1707	1727	4	one	one	NUM
cblr-1707	1727	5	of	of	ADP
cblr-1707	1727	6	the	the	DET
cblr-1707	1727	7	terms	term	NOUN
cblr-1707	1727	8	of	of	ADP
cblr-1707	1727	9	the	the	DET
cblr-1707	1727	10	bargain	bargain	NOUN
cblr-1707	1727	11	,	,	PUNCT
cblr-1707	1727	12	a	a	DET
cblr-1707	1727	13	“	"	PUNCT
cblr-1707	1727	14	spec	spec	NOUN
cblr-1707	1727	15	”	"	PUNCT
cblr-1707	1727	16	of	of	ADP
cblr-1707	1727	17	the	the	DET
cblr-1707	1727	18	procurement	procurement	NOUN
cblr-1707	1727	19	335	335	NUM
cblr-1707	1727	20	there	there	PRON
cblr-1707	1727	21	is	be	VERB
cblr-1707	1727	22	precedent	precedent	NOUN
cblr-1707	1727	23	abroad	abroad	ADV
cblr-1707	1727	24	:	:	PUNCT
cblr-1707	1727	25	canadian	canadian	ADJ
cblr-1707	1727	26	banks	bank	NOUN
cblr-1707	1727	27	are	be	AUX
cblr-1707	1727	28	required	require	VERB
cblr-1707	1727	29	to	to	PART
cblr-1707	1727	30	open	open	VERB
cblr-1707	1727	31	accounts	account	NOUN
cblr-1707	1727	32	for	for	ADP
cblr-1707	1727	33	applicants	applicant	NOUN
cblr-1707	1727	34	unless	unless	SCONJ
cblr-1707	1727	35	an	an	DET
cblr-1707	1727	36	enumerated	enumerate	VERB
cblr-1707	1727	37	exception	exception	NOUN
cblr-1707	1727	38	applies	apply	VERB
cblr-1707	1727	39	.	.	PUNCT
cblr-1707	1728	1	the	the	DET
cblr-1707	1728	2	exceptions	exception	NOUN
cblr-1707	1728	3	generally	generally	ADV
cblr-1707	1728	4	relate	relate	VERB
cblr-1707	1728	5	to	to	ADP
cblr-1707	1728	6	fraud	fraud	NOUN
cblr-1707	1728	7	prevention	prevention	NOUN
cblr-1707	1728	8	.	.	PUNCT
cblr-1707	1729	1	see	see	VERB
cblr-1707	1729	2	access	access	NOUN
cblr-1707	1729	3	to	to	ADP
cblr-1707	1729	4	basic	basic	ADJ
cblr-1707	1729	5	banking	banking	NOUN
cblr-1707	1729	6	services	service	NOUN
cblr-1707	1729	7	regulations	regulation	NOUN
cblr-1707	1729	8	,	,	PUNCT
cblr-1707	1729	9	sor/2003	sor/2003	NOUN
cblr-1707	1729	10	-	-	X
cblr-1707	1729	11	184	184	NUM
cblr-1707	1729	12	(	(	PUNCT
cblr-1707	1729	13	can	can	NOUN
cblr-1707	1729	14	.	.	PUNCT
cblr-1707	1729	15	)	)	PUNCT
cblr-1707	1729	16	,	,	PUNCT
cblr-1707	1729	17	http://lois.justice.gc.ca/pdf/sor-2003-184.pdf	http://lois.justice.gc.ca/pdf/sor-2003-184.pdf	PROPN
cblr-1707	1730	1	[	[	X
cblr-1707	1730	2	https://perma.cc/b7mjw4qb	https://perma.cc/b7mjw4qb	X
cblr-1707	1730	3	]	]	X
cblr-1707	1730	4	;	;	PUNCT
cblr-1707	1730	5	see	see	VERB
cblr-1707	1730	6	also	also	ADV
cblr-1707	1730	7	asli	asli	PROPN
cblr-1707	1730	8	demirguc	demirguc	PROPN
cblr-1707	1730	9	-	-	PUNCT
cblr-1707	1730	10	kunt	kunt	PROPN
cblr-1707	1730	11	,	,	PUNCT
cblr-1707	1730	12	leora	leora	PROPN
cblr-1707	1730	13	klapper	klapper	PROPN
cblr-1707	1730	14	,	,	PUNCT
cblr-1707	1730	15	dorothe	dorothe	PRON
cblr-1707	1730	16	singer	singer	NOUN
cblr-1707	1730	17	&	&	CCONJ
cblr-1707	1730	18	peter	peter	PROPN
cblr-1707	1730	19	van	van	PROPN
cblr-1707	1730	20	oudheusden	oudheusden	PROPN
cblr-1707	1730	21	,	,	PUNCT
cblr-1707	1730	22	the	the	DET
cblr-1707	1730	23	global	global	ADJ
cblr-1707	1730	24	findex	findex	PROPN
cblr-1707	1730	25	database	database	NOUN
cblr-1707	1730	26	2014	2014	NUM
cblr-1707	1730	27	:	:	PUNCT
cblr-1707	1730	28	measuring	measure	VERB
cblr-1707	1730	29	financial	financial	ADJ
cblr-1707	1730	30	inclusion	inclusion	NOUN
cblr-1707	1730	31	around	around	ADP
cblr-1707	1730	32	the	the	DET
cblr-1707	1730	33	world	world	NOUN
cblr-1707	1730	34	83–84	83–84	NOUN
cblr-1707	1730	35	(	(	PUNCT
cblr-1707	1730	36	world	world	PROPN
cblr-1707	1730	37	bank	bank	PROPN
cblr-1707	1730	38	grp	grp	PROPN
cblr-1707	1730	39	.	.	PROPN
cblr-1707	1730	40	,	,	PUNCT
cblr-1707	1730	41	policy	policy	NOUN
cblr-1707	1730	42	research	research	NOUN
cblr-1707	1730	43	working	working	NOUN
cblr-1707	1730	44	paper	paper	NOUN
cblr-1707	1730	45	no	no	NOUN
cblr-1707	1730	46	.	.	PROPN
cblr-1707	1730	47	7255	7255	NUM
cblr-1707	1730	48	,	,	PUNCT
cblr-1707	1730	49	2015	2015	NUM
cblr-1707	1730	50	)	)	PUNCT
cblr-1707	1730	51	,	,	PUNCT
cblr-1707	1730	52	http://documents.worldbank.org/curated/en/187761468179367706/pdf/wps	http://documents.worldbank.org/curated/en/187761468179367706/pdf/wps	PROPN
cblr-1707	1730	53	7255.pdf	7255.pdf	PROPN
cblr-1707	1731	1	[	[	X
cblr-1707	1731	2	https://perma.cc/y8g5-5qz5	https://perma.cc/y8g5-5qz5	NOUN
cblr-1707	1731	3	]	]	X
cblr-1707	1731	4	(	(	PUNCT
cblr-1707	1731	5	finding	find	VERB
cblr-1707	1731	6	bank	bank	NOUN
cblr-1707	1731	7	account	account	NOUN
cblr-1707	1731	8	penetration	penetration	NOUN
cblr-1707	1731	9	in	in	ADP
cblr-1707	1731	10	canada	canada	PROPN
cblr-1707	1731	11	,	,	PUNCT
cblr-1707	1731	12	as	as	ADV
cblr-1707	1731	13	well	well	ADV
cblr-1707	1731	14	as	as	ADP
cblr-1707	1731	15	other	other	ADJ
cblr-1707	1731	16	in	in	ADP
cblr-1707	1731	17	developed	develop	VERB
cblr-1707	1731	18	economies	economy	NOUN
cblr-1707	1731	19	like	like	ADP
cblr-1707	1731	20	germany	germany	PROPN
cblr-1707	1731	21	and	and	CCONJ
cblr-1707	1731	22	the	the	DET
cblr-1707	1731	23	united	united	ADJ
cblr-1707	1731	24	kingdom	kingdom	PROPN
cblr-1707	1731	25	,	,	PUNCT
cblr-1707	1731	26	is	be	AUX
cblr-1707	1731	27	at	at	ADP
cblr-1707	1731	28	or	or	CCONJ
cblr-1707	1731	29	exceeds	exceed	VERB
cblr-1707	1731	30	ninety	ninety	NUM
cblr-1707	1731	31	-	-	PUNCT
cblr-1707	1731	32	nine	nine	NUM
cblr-1707	1731	33	percent	percent	NOUN
cblr-1707	1731	34	)	)	PUNCT
cblr-1707	1731	35	.	.	PUNCT
cblr-1707	1732	1	2018.3_ricks_final	2018.3_ricks_final	NUM
cblr-1707	1732	2	no	no	NOUN
cblr-1707	1732	3	.	.	PUNCT
cblr-1707	1733	1	3:757	3:757	NUM
cblr-1707	1733	2	]	]	X
cblr-1707	1733	3	money	money	NOUN
cblr-1707	1733	4	as	as	ADP
cblr-1707	1733	5	infrastructure	infrastructure	NOUN
cblr-1707	1733	6	851	851	NUM
cblr-1707	1733	7	arrangement	arrangement	NOUN
cblr-1707	1733	8	.	.	PUNCT
cblr-1707	1734	1	under	under	ADP
cblr-1707	1734	2	this	this	DET
cblr-1707	1734	3	view	view	NOUN
cblr-1707	1734	4	,	,	PUNCT
cblr-1707	1734	5	access	access	NOUN
cblr-1707	1734	6	to	to	ADP
cblr-1707	1734	7	bank	bank	NOUN
cblr-1707	1734	8	accounts	account	NOUN
cblr-1707	1734	9	,	,	PUNCT
cblr-1707	1734	10	like	like	ADP
cblr-1707	1734	11	interest	interest	NOUN
cblr-1707	1734	12	on	on	ADP
cblr-1707	1734	13	bank	bank	NOUN
cblr-1707	1734	14	accounts	account	NOUN
cblr-1707	1734	15	,	,	PUNCT
cblr-1707	1734	16	is	be	AUX
cblr-1707	1734	17	a	a	DET
cblr-1707	1734	18	matter	matter	NOUN
cblr-1707	1734	19	of	of	ADP
cblr-1707	1734	20	public	public	ADJ
cblr-1707	1734	21	concern	concern	NOUN
cblr-1707	1734	22	,	,	PUNCT
cblr-1707	1734	23	not	not	PART
cblr-1707	1734	24	a	a	DET
cblr-1707	1734	25	matter	matter	NOUN
cblr-1707	1734	26	to	to	PART
cblr-1707	1734	27	be	be	AUX
cblr-1707	1734	28	left	leave	VERB
cblr-1707	1734	29	to	to	ADP
cblr-1707	1734	30	banks	bank	NOUN
cblr-1707	1734	31	’	’	PART
cblr-1707	1734	32	profit	profit	NOUN
cblr-1707	1734	33	-	-	PUNCT
cblr-1707	1734	34	and	and	CCONJ
cblr-1707	1734	35	-	-	PUNCT
cblr-1707	1734	36	loss	loss	NOUN
cblr-1707	1734	37	calculations	calculation	NOUN
cblr-1707	1734	38	.	.	PUNCT
cblr-1707	1735	1	v.	v.	ADP
cblr-1707	1735	2	conclusion	conclusion	NOUN
cblr-1707	1735	3	“	"	PUNCT
cblr-1707	1735	4	[	[	X
cblr-1707	1735	5	the	the	DET
cblr-1707	1735	6	government	government	NOUN
cblr-1707	1735	7	]	]	PUNCT
cblr-1707	1735	8	has	have	VERB
cblr-1707	1735	9	a	a	DET
cblr-1707	1735	10	monopoly	monopoly	NOUN
cblr-1707	1735	11	on	on	ADP
cblr-1707	1735	12	the	the	DET
cblr-1707	1735	13	issuance	issuance	NOUN
cblr-1707	1735	14	of	of	ADP
cblr-1707	1735	15	money	money	NOUN
cblr-1707	1735	16	,	,	PUNCT
cblr-1707	1735	17	though	though	SCONJ
cblr-1707	1735	18	it	it	PRON
cblr-1707	1735	19	has	have	AUX
cblr-1707	1735	20	chosen	choose	VERB
cblr-1707	1735	21	to	to	PART
cblr-1707	1735	22	give	give	VERB
cblr-1707	1735	23	up	up	ADP
cblr-1707	1735	24	part	part	NOUN
cblr-1707	1735	25	of	of	ADP
cblr-1707	1735	26	its	its	PRON
cblr-1707	1735	27	monopoly	monopoly	NOUN
cblr-1707	1735	28	powers	power	NOUN
cblr-1707	1735	29	by	by	ADP
cblr-1707	1735	30	permitting	permit	VERB
cblr-1707	1735	31	commercial	commercial	ADJ
cblr-1707	1735	32	banks	bank	NOUN
cblr-1707	1735	33	to	to	PART
cblr-1707	1735	34	operate	operate	VERB
cblr-1707	1735	35	with	with	ADP
cblr-1707	1735	36	fractional	fractional	ADJ
cblr-1707	1735	37	required	require	VERB
cblr-1707	1735	38	reserves	reserve	NOUN
cblr-1707	1735	39	.	.	PUNCT
cblr-1707	1736	1	”336	”336	VERB
cblr-1707	1736	2	so	so	ADV
cblr-1707	1736	3	wrote	write	VERB
cblr-1707	1736	4	milton	milton	PROPN
cblr-1707	1736	5	friedman	friedman	PROPN
cblr-1707	1736	6	in	in	ADP
cblr-1707	1736	7	1960	1960	NUM
cblr-1707	1736	8	.	.	PUNCT
cblr-1707	1737	1	he	he	PRON
cblr-1707	1737	2	described	describe	VERB
cblr-1707	1737	3	regulated	regulate	VERB
cblr-1707	1737	4	banks	bank	NOUN
cblr-1707	1737	5	as	as	ADP
cblr-1707	1737	6	“	"	PUNCT
cblr-1707	1737	7	issuers	issuer	NOUN
cblr-1707	1737	8	of	of	ADP
cblr-1707	1737	9	money	money	NOUN
cblr-1707	1737	10	.	.	PUNCT
cblr-1707	1738	1	”337	”337	NOUN
cblr-1707	1738	2	this	this	DET
cblr-1707	1738	3	money	money	NOUN
cblr-1707	1738	4	paradigm	paradigm	NOUN
cblr-1707	1738	5	fell	fall	VERB
cblr-1707	1738	6	out	out	ADP
cblr-1707	1738	7	of	of	ADP
cblr-1707	1738	8	fashion	fashion	NOUN
cblr-1707	1738	9	long	long	ADV
cblr-1707	1738	10	ago	ago	ADV
cblr-1707	1738	11	.	.	PUNCT
cblr-1707	1739	1	its	its	PRON
cblr-1707	1739	2	abandonment	abandonment	NOUN
cblr-1707	1739	3	was	be	AUX
cblr-1707	1739	4	unwise	unwise	ADJ
cblr-1707	1739	5	.	.	PUNCT
cblr-1707	1740	1	the	the	DET
cblr-1707	1740	2	money	money	NOUN
cblr-1707	1740	3	paradigm	paradigm	NOUN
cblr-1707	1740	4	suggests	suggest	VERB
cblr-1707	1740	5	lines	line	NOUN
cblr-1707	1740	6	of	of	ADP
cblr-1707	1740	7	regulatory	regulatory	ADJ
cblr-1707	1740	8	analysis	analysis	NOUN
cblr-1707	1740	9	that	that	SCONJ
cblr-1707	1740	10	the	the	DET
cblr-1707	1740	11	intermediation	intermediation	NOUN
cblr-1707	1740	12	paradigm	paradigm	NOUN
cblr-1707	1740	13	practically	practically	ADV
cblr-1707	1740	14	forecloses	foreclose	NOUN
cblr-1707	1740	15	.	.	PUNCT
cblr-1707	1741	1	should	should	AUX
cblr-1707	1741	2	“	"	PUNCT
cblr-1707	1741	3	market	market	NOUN
cblr-1707	1741	4	”	"	PUNCT
cblr-1707	1741	5	forces	force	NOUN
cblr-1707	1741	6	determine	determine	VERB
cblr-1707	1741	7	how	how	SCONJ
cblr-1707	1741	8	much	much	ADJ
cblr-1707	1741	9	interest	interest	NOUN
cblr-1707	1741	10	is	be	AUX
cblr-1707	1741	11	paid	pay	VERB
cblr-1707	1741	12	on	on	ADP
cblr-1707	1741	13	bank	bank	NOUN
cblr-1707	1741	14	-	-	PUNCT
cblr-1707	1741	15	issued	issue	VERB
cblr-1707	1741	16	money	money	NOUN
cblr-1707	1741	17	?	?	PUNCT
cblr-1707	1742	1	should	should	AUX
cblr-1707	1742	2	(	(	PUNCT
cblr-1707	1742	3	dollardenominated	dollardenominated	ADJ
cblr-1707	1742	4	)	)	PUNCT
cblr-1707	1742	5	money	money	NOUN
cblr-1707	1742	6	creation	creation	NOUN
cblr-1707	1742	7	be	be	AUX
cblr-1707	1742	8	characterized	characterize	VERB
cblr-1707	1742	9	by	by	ADP
cblr-1707	1742	10	free	free	ADJ
cblr-1707	1742	11	entry	entry	NOUN
cblr-1707	1742	12	?	?	PUNCT
cblr-1707	1743	1	should	should	AUX
cblr-1707	1743	2	profit	profit	VERB
cblr-1707	1743	3	-	-	PUNCT
cblr-1707	1743	4	and	and	CCONJ
cblr-1707	1743	5	-	-	PUNCT
cblr-1707	1743	6	loss	loss	NOUN
cblr-1707	1743	7	considerations	consideration	NOUN
cblr-1707	1743	8	determine	determine	VERB
cblr-1707	1743	9	who	who	PRON
cblr-1707	1743	10	gets	get	VERB
cblr-1707	1743	11	access	access	NOUN
cblr-1707	1743	12	to	to	ADP
cblr-1707	1743	13	the	the	DET
cblr-1707	1743	14	mainstream	mainstream	NOUN
cblr-1707	1743	15	payment	payment	NOUN
cblr-1707	1743	16	system	system	NOUN
cblr-1707	1743	17	?	?	PUNCT
cblr-1707	1744	1	the	the	DET
cblr-1707	1744	2	money	money	NOUN
cblr-1707	1744	3	paradigm	paradigm	NOUN
cblr-1707	1744	4	,	,	PUNCT
cblr-1707	1744	5	which	which	PRON
cblr-1707	1744	6	envisions	envision	VERB
cblr-1707	1744	7	a	a	DET
cblr-1707	1744	8	bank	bank	NOUN
cblr-1707	1744	9	charter	charter	NOUN
cblr-1707	1744	10	as	as	ADP
cblr-1707	1744	11	a	a	DET
cblr-1707	1744	12	monetary	monetary	ADJ
cblr-1707	1744	13	outsourcing	outsourcing	NOUN
cblr-1707	1744	14	contract	contract	NOUN
cblr-1707	1744	15	or	or	CCONJ
cblr-1707	1744	16	franchise	franchise	NOUN
cblr-1707	1744	17	arrangement	arrangement	NOUN
cblr-1707	1744	18	,	,	PUNCT
cblr-1707	1744	19	affords	afford	VERB
cblr-1707	1744	20	an	an	DET
cblr-1707	1744	21	organizational	organizational	ADJ
cblr-1707	1744	22	framework	framework	NOUN
cblr-1707	1744	23	for	for	ADP
cblr-1707	1744	24	thinking	think	VERB
cblr-1707	1744	25	about	about	ADP
cblr-1707	1744	26	these	these	DET
cblr-1707	1744	27	matters	matter	NOUN
cblr-1707	1744	28	.	.	PUNCT
cblr-1707	1745	1	it	it	PRON
cblr-1707	1745	2	suggests	suggest	VERB
cblr-1707	1745	3	grounds	ground	NOUN
cblr-1707	1745	4	for	for	ADP
cblr-1707	1745	5	imposing	impose	VERB
cblr-1707	1745	6	rate	rate	NOUN
cblr-1707	1745	7	regulation	regulation	NOUN
cblr-1707	1745	8	,	,	PUNCT
cblr-1707	1745	9	entry	entry	NOUN
cblr-1707	1745	10	restriction	restriction	NOUN
cblr-1707	1745	11	,	,	PUNCT
cblr-1707	1745	12	and	and	CCONJ
cblr-1707	1745	13	universal	universal	ADJ
cblr-1707	1745	14	service	service	NOUN
cblr-1707	1745	15	mandates	mandate	NOUN
cblr-1707	1745	16	on	on	ADP
cblr-1707	1745	17	chartered	charter	VERB
cblr-1707	1745	18	banks	bank	NOUN
cblr-1707	1745	19	.	.	PUNCT
cblr-1707	1746	1	and	and	CCONJ
cblr-1707	1746	2	traditional	traditional	ADJ
cblr-1707	1746	3	infrastructure	infrastructure	NOUN
cblr-1707	1746	4	regulation	regulation	NOUN
cblr-1707	1746	5	furnishes	furnish	VERB
cblr-1707	1746	6	proof	proof	NOUN
cblr-1707	1746	7	-	-	PUNCT
cblr-1707	1746	8	of	of	ADP
cblr-1707	1746	9	-	-	PUNCT
cblr-1707	1746	10	concept	concept	NOUN
cblr-1707	1746	11	that	that	SCONJ
cblr-1707	1746	12	this	this	DET
cblr-1707	1746	13	regulatory	regulatory	ADJ
cblr-1707	1746	14	model	model	NOUN
cblr-1707	1746	15	is	be	AUX
cblr-1707	1746	16	workable	workable	ADJ
cblr-1707	1746	17	.	.	PUNCT
cblr-1707	1747	1	modern	modern	ADJ
cblr-1707	1747	2	u.s	u.s	PROPN
cblr-1707	1747	3	.	.	PROPN
cblr-1707	1747	4	bank	bank	PROPN
cblr-1707	1747	5	regulation	regulation	NOUN
cblr-1707	1747	6	has	have	AUX
cblr-1707	1747	7	drifted	drift	VERB
cblr-1707	1747	8	ever	ever	ADV
cblr-1707	1747	9	-	-	PUNCT
cblr-1707	1747	10	further	far	ADV
cblr-1707	1747	11	away	away	ADV
cblr-1707	1747	12	from	from	ADP
cblr-1707	1747	13	the	the	DET
cblr-1707	1747	14	infrastructure	infrastructure	NOUN
cblr-1707	1747	15	model	model	NOUN
cblr-1707	1747	16	,	,	PUNCT
cblr-1707	1747	17	with	with	ADP
cblr-1707	1747	18	questionable	questionable	ADJ
cblr-1707	1747	19	results	result	NOUN
cblr-1707	1747	20	.	.	PUNCT
cblr-1707	1748	1	336	336	NUM
cblr-1707	1748	2	friedman	friedman	NOUN
cblr-1707	1748	3	,	,	PUNCT
cblr-1707	1748	4	supra	supra	PROPN
cblr-1707	1748	5	note	note	PROPN
cblr-1707	1748	6	31	31	NUM
cblr-1707	1748	7	,	,	PUNCT
cblr-1707	1748	8	at	at	ADP
cblr-1707	1748	9	74	74	NUM
cblr-1707	1748	10	.	.	PUNCT
cblr-1707	1748	11	337	337	NUM
cblr-1707	1749	1	i	i	PRON
cblr-1707	1749	2	d.	d.	PROPN
cblr-1707	1749	3	at	at	ADP
cblr-1707	1749	4	8	8	NUM
cblr-1707	1749	5	.	.	PUNCT