Our Research Focus

Financial Markets and Institutions

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We study the behavior of banks and similar institutions in modern financial markets. Our recent work has dealt with the interactions between bank supervisors and financial markets, and the mortgage lending market.

 
Issue Title Author(s)
Second Quarter 2011 Financial Firm Resolution Policy as a Time-Consistency Problem Borys Grochulski
Fall 2009 Dynamic Provisioning: A Countercyclical Tool for Loan Loss Reserves. Eliana Balla
Andrew McKenna
Spring 2009 The Consolidation of Financial Regulation: Pros, Cons, and Implications for the United States Sabrina R. Pellerin
John R. Walter
Patricia E. Wescott
Spring 2009 Should Increased Regulation of Bank Risk-Taking Come from Regulators or from the Market? Robert L. Hetzel
Winter 2008 Should Bank Supervisors Disclose Information About Their Banks? Edward S. Prescott
Winter 2008 Antitrust Analysis in Banking: Goals, Methods, and Justifications in a Changed Environment John R. Walter
Patricia E. Wescott
Fall 2006 Changes in the Size Distribution of U. S. Banks: 1960 - 2005 Hubert P. Janicki
Edward S. Prescott
Spring 2006 Can Feedback from the Jumbo CD Market Improve Bank Surveillance? R. Alton Gilbert
Andrew P. Meyer
Mark D. Vaughan
Winter 2006 The 3-6-3 Rule: An Urban Myth? John R. Walter
Spring 2005 Bank Risk of Failure and the Too-Big-to-Fail Policy Huberto M. Ennis
H. S. Malek
Winter 2005 Depression-Era Bank Failures: The Great Contagion or the Great Shakeout? John R. Walter
Fall 2004 Auditing and Bank Capital Regulation Edward S. Prescott
Winter 2004 Closing Troubled Banks: How the Process Works John R. Walter
Summer 2003 Accounting for Corporate Behavior John A. Weinberg
Spring 2003 Banking and Commerce: Tear Down This Wall? John R. Walter
Fall 2002 Competition Among Bank Regulators John A. Weinberg
Summer 2002 The Economics of Financial Privacy: To Opt Out or Opt In? Jeffrey M. Lacker
Summer 2002 Private Money and Counterfeiting Stephen D. Williamson
Spring 2002 What Can Price Theory Say about the Community Reinvestment Act? John R. Walter
Robert L. Lacy
Spring 2002 Can Risk-Based Deposit Insurance Premiums Control Moral Hazard? Edward S. Prescott
Fall 2001 On the Size Distribution of Banks Huberto M. Ennis
Fall 2001 Should Banks Be Recapitalized? Douglas W. Diamond
Summer 2001 Regulating Bank Capital Structure to Control Risk Edward S. Prescott
Winter 1999 Pooling or Purchase: A Merger Mystery John R. Walter
Winter 1999 A Primer on Moral-Hazard Models Edward S. Prescott
Summer 1998 The Bank Merger Wave: Causes and Consequences J. Alfred Broaddus, Jr.
Winter 1998 Can a Safety Net Subsidy Be Contained? John R. Walter
Spring 1997 Tax Disincentives to Commercial Bank Lending Anatoli Kuprianov
Winter 1997 The Pre-Commitment Approach in a Model of Regulatory Banking Capital Edward S. Prescott
Fall 1996 Firewalls John R. Walter
Summer 1996 Financial Intermediation as Delegated Monitoring: A Simple Example Douglas W. Diamond
Spring 1996 Tie-in Sales and Banks John A. Weinberg
Fall 1995 Derivatives Debacles: Case Studies of Large Losses in Derivatives Markets Anatoli Kuprianov
Fall 1994 Were Bank Examiners Too Strict with New England and California Banks? John R. Walter
Robert M. Darin
Summer 1994 The Role of Interest Rate Swaps in Corporate Finance Anatoli Kuprianov
Spring 1994 Choices in Banking Policy J. Alfred Broaddus, Jr.
Winter 1994 Firm Size, Finance, and Investment John A. Weinberg
Winter 1994 Does Adverse Selection Justify Government Intervention in Loan Markets? Jeffrey M. Lacker
Summer 1993 Economic Quarterly: Credit Aggregates from the Flow of Funds Accounts Milton P. Reid, III
Stacey L. Schreft
Spring 1993 Commercial Paper Thomas K. Hahn
Issue Title Author(s)
1992 Money Market Futures Anatoli Kuprianov
1992 Credit Rationing by Loan Size in Commercial Loan Markets Stacey L. Schreft
Anne P. Villamil
1991 Too Big to Fail: Origins, Consequences, and Outlook Robert L. Hetzel
1991 Loan Loss Reserves John R. Walter
1991 Reflections on Deposit Insurance Robert P. Black
1990 The Case for Interstate Branch Banking David L. Mengle
1990 Reforming Deposit Insurance: Lessons from the Savings and Loan Crisis Michael Dotsey
Anatoli Kuprianov
1989 The Future of Deposit Insurance: An Analysis of the Alternatives Anatoli Kuprianov
David L. Mengle
1989 Banking Under Changing Rules: The Fifth District Since 1970 David L. Mengle
1988 International Risk-Based Capital Standard: History and Explanation Malcolm C. Alfriend
1987 A Review of Bank Performance in the Fifth District, 1986 David L. Mengle
John R. Walter
1987 Cost Dispersion and the Measurement of Economies in Banking David B. Humphrey
1987 IPC or Total Deposits? There Is a Difference! Donald L. Welker
1986 Options on Short-Term Interest Rate Futures Anatoli Kuprianov
1986 Short-Term Municipal Securities John R. Walter
1986 Short-Term Interest Rate Futures Anatoli Kuprianov
1986 Treasury Bill versus Private Money Market Yield Curves Timothy Q. Cook
Thomas A. Lawler
Timothy D. Rowe
1986 Economic Review: A Review of Bank Performance in the Fifth District, 1985 David L. Mengle
John R. Walter
1986 The Discount Window David L. Mengle
1986 An Analysis of Federal Reserve Pricing Anatoli Kuprianov
1986 Thrift Competition: Does It Matter? Donald L. Welker
1984 A Review of Bank Performance in the Fifth District, 1983 F. Ward McCarthy, Jr.
1984 The Evolution of the Bank Regulatory Structure: A Reappraisal F. Ward McCarthy, Jr.
1983 The Behavior of the Spread between Treasury Bill Rates and Private Money Market Rates since 1978 Timothy Q. Cook
Thomas A. Lawler
1983 An Examination of Implicit Interest Rates on Demand Deposits Michael Dotsey
1983 A Review of Bank Performance in the Fifth District, 1982 John R. Walter
1983 The Relationship between the Discount Rate and the Federal Funds Rate under the Federal Reserve's Post-October 6, 1979 Operating Procedure J. Alfred Broaddus, Jr.
Timothy Q. Cook
1982 Money, the Monetary Base, and Nominal GNP William E. Cullison
1982 Determinants of Individual Tax-Exempt Bond Yields: A Survey of the Evidence Timothy Q. Cook
1982 The Competition for Transaction Accounts Walter A. Varvel
John R. Walter
1982 A Model of Money Stock Determination with Loan Demand and a Banking System Balance Sheet Constraint Marvin Goodfriend
1981 The Market for Federal Funds Seth P. Maerowitz
1981 Eurodollars Marvin Goodfriend
1981 Evolution in Banking Competition Walter A. Varvel
Henry C. Wallich
1981 Commercial Paper Peter A. Abken
1980 Redlining: An Economic Analysis John P. Segala
1980 Short-Term Investment Pools Timothy Q. Cook
Jeremy G. Duffield
1980 Investments for Small Savers at Commercial Banks James F. Tucker
1980 Negotiable Certificates of Deposit Bruce J. Summers
1980 Bank Profits and Inflation Henry C. Wallich
1980 The Financial Services Industry: Recent Trends and Future Prospects Aubrey N. Snellings
1979 Nonbank Activities of Fifth District Bank Holding Companies Walter A. Varvel
1979 Average Costs of Money Market Mutual Funds Timothy Q. Cook
Jeremy G. Duffield
1979 Money Market Mutual Funds: A Reaction to Government Regulations or A Lasting Financial Innovation? Timothy Q. Cook
Jeremy G. Duffield
1979 Profitability of Minority Banks in 1977 James F. Tucker
1978 Automatic Transfers from Savings to Checking: Perspective and Prospects J. Alfred Broaddus, Jr.
1978 Regulation Q and the Behavior of Savings and Small Time Deposits at Commercial Banks and the Thrift Institutions Timothy Q. Cook
1978 The Implicit Deposit Rate Concept: Issues and Applications Michael A. Klein
1978 Honest Money Henry C. Wallich
1978 Managing Cash Assets: Operating Balances and Reserve Requirements Bruce J. Summers
1978 Seasonal Movements in Short-Term Yield Spreads Thomas A. Lawler
1978 LIFO Inventory Accounting: Effects on Corporate Profits, Inventory-Sales Ratios, and Inventory Investment Walter A. Varvel
1978 Perspectives on Fifth District Banking: 1960-1976 Bruce J. Summers
1978 The Impact of Large Time Deposits on the Growth Rate of M2 Timothy Q. Cook
1977 Some Factors Affecting Short-Run Growth Rates of the Money Supply J. Alfred Broaddus, Jr.
Timothy Q. Cook
1977 Seasonal Adjustment of the Money Stock: Problems and policy Implications Thomas A. Lawler
1977 Bank Capital Adequacy: Perspectives and Prospects Bruce J. Summers
1977 Changes in Banking Concentration in Selected Fifth District SMSAs, 1970-1976 Walter A. Varvel
Suzanne J. Stone
1977 The Need for Order in International Finance Arthur F. Burns
1977 A Monetarist Model of Exchange Rate Determination Thomas M. Humphrey
1976 Performance Characteristics of High-Earning Minority Banks Bruce J. Summers
James F. Tucker
1976 FDIC Policy Toward Bank Failures Walter A. Varvel
1976 Regulations Affecting Competition Between Banks and Thrift Institutions in the Fifth District Bruce J. Summers
1976 A Review of the Municipal Bond Market Richard Rosenbloom
1976 The $2 Bill Returns Suzanne J. Stone
1976 Foreign Banking in the United States: Movement Toward Federal Regulation Bruce J. Summers
1975 Loan Commitments to Business in United States Banking History Bruce J. Summers
1975 A Valuation Approach to Bank Holding Company Acquisitions Walter A. Varvel
1975 A Time Series Analysis of Business Loans at Large Commercial Banks Bruce J. Summers
1974 The Residential Mortgage Market in Recent Years Timothy Q. Cook
1974 State Taxation of Fifth District Banks Daniel A. Karp
Paper Title Author(s)
11-09
December 2011		 Loan Loss Reserves, Accounting Constraints, and Bank Ownership Structure Eliana Balla
Morgan J. Rose
11-07
November 2011		 Contingent Capital: The Trigger Problem Edward S. Prescott
11-05
September 2011		 Mortgage Defaults Juan Carlos Hatchondo
Leonardo Martinez
Juan M. Sanchez
11-01R
March 2011		 An Experimental Analysis of Contingent Capital Triggering Mechanisms (Revised Oct. 2011) Douglas Davis
Edward S. Prescott
Oleg Korenok
10-16
October 2010		 Optimal Bonuses and Deferred Pay for Bank Employees: Implications of Hidden Actions with Persistent Effects in Time Arantxa Jarque
Edward S. Prescott
10-14
October 2010		 On the Optimality of Ramsey Taxes in Mirrlees Economies Borys Grochulski
09-11
August 2009		 Are Harsh Penalties for Default Really Better? Kartik B. Athreya
Xuan S. Tam
Eric R. Young
09-10R
July 2009		 Recourse and Residential Mortgage Default: Theory and Evidence from U.S. States (Revised: June 2010) Andra C. Ghent
Marianna Kudlyak
09-8
May 2009		 The Consolidation of Financial Market Regulation: Pros, Cons, and Implications for the United States Sabrina R. Pellerin
John R. Walter
Patricia E. Wescott
07-2
March 2007		 Bank Runs and Institutions: The Perils of Intervention Huberto M. Ennis
Todd Keister
06-12
November 2006		 Market-Based Regulation and the Informational Content of Prices Philip Bond
Itay Goldstein
Edward S. Prescott
05-5
July 2005		 Should the FDIC Worry about the FHLB? The Impact of Federal Home Loan Bank Advances on the Bank Insurance Fund Rosalind L. Bennett
Mark D. Vaughan
Timothy J. Yeager
04-3
March 2004		 Bank Runs and Investment Decisions Revisited Huberto M. Ennis
Todd Keister
04-2
February 2004		 State-Contingent Bank Regulation With Unobserved Actions and Unobserved Characteristics David A. Marshall
Edward S. Prescott
99-2
March 1999		 Limited Commitment and Central Bank Lending Marvin Goodfriend
Jeffrey M. Lacker
90-5
June 1990		 Costs and Technical Change: Effects from Bank Deregulation David B. Humphrey
89-4
October 1989		 The Feasibility of Market Value Accounting for Commercial Banks David L. Mengle
88-2
May 1988		 Legal and Regulatory Reform in Electronic Payments: An Evaluation of Finality of Payment Rules David L. Mengle
88-1
April 1988		 Financial Deregulation, Monetary Policy, and Central Banking Marvin Goodfriend
Robert G. King
76-1
July 1976		 Bank Management, Competition, and Interest Rates: A Portfolio Model of Discount Window Activity William D. Jackson
74-5
September 1974		 Commercial Banking Performance and Structure: A Factor Analysis Approach William D. Jackson
73-1
May 1973		 Simulations of Marginal Reserve Requirements on Large Denomination Certificates of Deposit in the FRB Model Philip H. Davidson