Financial Markets & Institutions

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.

Third Quarter 2011

Macroeconomics with Heterogeneity: A Practical Guide

Fatih Guvenen

Third Quarter 2011

Financial Frictions in Macroeconomic Fluctuations

Vincenzo Quadrini

Spring 2006

Can Feedback from the Jumbo CD Market Improve Bank Surveillance?

R. Alton Gilbert, Andrew P. Meyer and Mark D. Vaughan

Spring 1993

Commercial Paper

Thomas K. Hahn

Winter 1993

Bankers Acceptances

Robert K. LaRoche

Nov/Dec, 1990

The Case for Interstate Branch Banking

David L. Mengle

Jul/Aug, 1990

A Yankee Recipe for a EuroFed Omelet

Robert F. Graboyes

Jul/Aug, 1990

Fifth District Bank Performance 1989

John R. Walter and Donald L. Welker

Mar/Apr, 1989

Improving America's Competitiveness

H. Robert Heller

Mar/Apr, 1987

IPC or Total Deposits? There Is a Difference!

Donald L. Welker

Jul/Aug, 1986

Treasury Bill versus Private Money Market Yield Curves

Timothy Q. Cook, Thomas A. Lawler and Timothy D. Rowe

May/Jun, 1986

The Discount Window

David L. Mengle

Jan/Feb, 1986

Thrift Competition: Does It Matter?

Donald L. Welker

May/Jun, 1985

Are NOWs Being Used as Savings Accounts?

Timothy Q. Cook and Timothy D. Rowe

Jul/Aug, 1984

A Review of Bank Performance in the Fifth District, 1983

F. Ward McCarthy, Jr.

Mar/Apr, 1982

The Competition for Transaction Accounts

Walter A. Varvel and John R. Walter

Jul/Aug, 1981

The Market for Federal Funds

Seth P. Maerowitz

Mar/Apr, 1981

Evolution in Banking Competition

Walter A. Varvel and Henry C. Wallich

Mar/Apr, 1981

Commercial Paper

Peter A. Abken

Sep/Oct, 1980

Short-Term Investment Pools

Timothy Q. Cook and Jeremy G. Duffield

Sep/Oct, 1980

Investments for Small Savers at Commercial Banks

James F. Tucker

Jul/Aug, 1980

Negotiable Certificates of Deposit

Bruce J. Summers

May/Jun, 1980

Bank Profits and Inflation

Henry C. Wallich

Jul/Aug, 1979

Average Costs of Money Market Mutual Funds

Timothy Q. Cook and Jeremy G. Duffield

Mar/Apr, 1979

Profitability of Minority Banks in 1977

James F. Tucker

Sep/Oct, 1978

Honest Money

Henry C. Wallich

Jul/Aug, 1978

Seasonal Movements in Short-Term Yield Spreads

Thomas A. Lawler

Mar/Apr, 1978

Perspectives on Fifth District Banking: 1960-1976

Bruce J. Summers

Jul/Aug, 1977

Bank Capital Adequacy: Perspectives and Prospects

Bruce J. Summers

Jul/Aug, 1977

Changes in Banking Concentration in Selected Fifth District SMSAs, 1970-1976

Walter A. Varvel and Suzanne J. Stone

Jul/Aug, 1977

The Need for Order in International Finance

Arthur F. Burns

Nov/Dec, 1976

Performance Characteristics of High-Earning Minority Banks

Bruce J. Summers and James F. Tucker

Sep/Oct, 1976

FDIC Policy Toward Bank Failures

Walter A. Varvel

Mar/Apr, 1976

A Review of the Municipal Bond Market

Richard Rosenbloom

Mar/Apr, 1976

The $2 Bill Returns

Suzanne J. Stone

Jul/Aug, 1974

State Taxation of Fifth District Banks

Daniel A. Karp

November 2015, No. 15-14

Intergenerational Linkages in Household Credit

Andra C. Ghent and Marianna Kudlyak

June 2015, No. 15-08

Innovation, Deregulation, and the Life Cycle of a Financial Service Industry

Fumiko Hayashi, Bin Grace Li and Zhu Wang

January 2014, No. 14-01

Does Greater Inequality Lead to More Household Borrowing? New Evidence from Household Data

Olivier Coibion, Yuriy Gorodnichenko, Marianna Kudlyak and John Mondragon

November 2013, No. 13-19R

mREITs and Their Risks (Revised December 2013)

Sabrina R. Pellerin, Steven Sabol and John R. Walter

August 2013, No. 13-09R

Are Young Borrowers Bad Borrowers? (Revised June 2014)

Peter Debbaut, Andra C. Ghent and Marianna Kudlyak

April 2010, No. 10-05

Quantifying the Impact of Financial Development on Economic Development

Jeremy Greenwood, Juan M. Sanchez and Cheng Wang

August 2009, No. 09-11

Are Harsh Penalties for Default Really Better?

Kartik B. Athreya, Xuan S. Tam and Eric R. Young

April 2009, No. 09-5

Credit and Self-Employment

Kartik B. Athreya and Ahmet Akyol

December 2008, No. 08-8R

Financing Development: The Role of Information Costs (Revised August 2009)

Jeremy Greenwood, Juan M. Sanchez and Cheng Wang

November 2006, No. 06-12

Market-Based Regulation and the Informational Content of Prices

Philip Bond, Itay Goldstein and Edward S. Prescott

July 2005, No. 05-5

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 and Timothy J. Yeager

March 2004, No. 04-3

Bank Runs and Investment Decisions Revisited

Huberto M. Ennis and Todd Keister

January 2003, No. 03-1

Economic Growth, Liquidity, and Bank Runs

Huberto M. Ennis and Todd Keister

May 1994, No. 94-5

Money, Banking, and Capital Formation

Stacey L. Schreft and Bruce D. Smith

September 1984, No. 84-4

A Weekly Perfect Foresight Model of the Nonborrowed Reserve Operating Procedure

Marvin Goodfriend, Gary Anderson, Anil Kashyap, George Moore and Richard D. Porter

September 1980, No. 80-1

Evolution in Banking Competition

Walter A. Varvel and Henry C. Wallich

March 1979, No. 79-1 (Revised Nov. 1979)

Determinants of Correspondent Banking Relationships with the Federal Reserve System

Bruce J. Summers and John P. Segala

October 1974, No. 78-4

Measuring the Default Risk of Bonds Using Yields to Maturity

Thomas A. Lawler

March 1977, No. 77-1

The Cost of Membership in the Federal Reserve System

Walter A. Varvel

November 1976, No. 76-3

Determinants of Long-Term Bond Risk Premiums

William D. Jackson

February 1976, No. 76-2

The Motivation for Bank Holding Company Acquisitions

Walter A. Varvel

July 1975, No. 75-1

Multibank Holding Companies and Bank Behavior

William D. Jackson

December 2013, No. 13-12

How Risky Are Young Borrowers?

Peter Debbaut, Andra C. Ghent, Marianna Kudlyak and Jessie Romero

November 2013, No. 13-11

Assessing the Risks of Mortgage REITs

Sabrina R. Pellerin, David A. Price, Steven Sabol and John R. Walter

September 2012, No. 12-09

Can Orderly Liquidation Solve the Problems of Bailouts and Bankruptcies?

Betty Joyce Nash, Sabrina R. Pellerin and John R. Walter

August 2012, No. 12-08

TARGET2: Symptom, Not Cause, of Eurozone Woes

Thomas A. Lubik and Karl Rhodes

March 2012, No. 12-03

Loan Loss Reserve Accounting and Bank Behavior

Eliana Balla, Morgan J. Rose and Jessie Romero

February 2012, No. 12-02

Experimenting with Contingent Capital Triggers

Edward S. Prescott and David A. Price

May 2011, No. 11-05

The Role of Interchange Fees on Debit and Credit Card Transactions in the Payments System

Tim Mead, Renee Haltom and Margaretta Blackwell

February 2011, No. 11-02

Small Business Lending During the Recession

Betty Joyce Nash and Kimberly Zeuli

February 2010, No. 10-02

Is a New Asset Bubble Emerging in Certain Markets?

Renee Haltom, Brian Gaines and Juan Carlos Hatchondo

November 2009, No. 09-11

Rolling Back the Financial Safety Net

Robert L. Hetzel and Stephen Slivinski

December 2008, No. 08-03

Turmoil in the Student Loan Market

John R. Walter and Samuel E. Henly

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