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Finance and Economics Discussion Series

from Board of Governors of the Federal Reserve System (U.S.)
Contact information at EDIRC.
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163: Empirical relationships between the total industrial production index and its diffusion indexes
James E. Kennedy
162: Corporate medium-term notes
Leland Crabbe
161: Cyclical patterns in the variance of economic activity
Mark W. French and Daniel E. Sichel
160: Changes in the cost of equity capital for bank holding companies and the effects on raising capital
James A. Berkovec and J. Nellie Liang
159: The term structure of interest rates over the business cycle
Pamela Labadie
158: The effects of closure policies on bank risk-taking
Sally M. Davies and Douglas A. McManus
157: The Globex trading system
A. Patricia White
156: The impact of liabilities for retiree health benefits on share prices
H. Fred Mittelstaedt and Mark Warshawsky
155: Callable corporate bonds: a vanishing breed
Lee Crabbe
154: Monetary policy and credit conditions: evidence from the composition of external finance
Anil Kashyap, Jeremy C. Stein and David W. Wilcox
153: Sourcing externalities
Eric J. Bartelsman, Ricardo J Caballero and Richard K. Lyons
152: A new test for mean reversion in stock prices
Gregory R. Duffee
151: Measurement and efficiency issues in commercial banking
Allen N. Berger and David B. Humphrey
150: Market-based deposit insurance premiums: an evaluation
Kathleen A. Kuester and James M. O'Brien
149: The characteristics of home mortgage debt, 1970-89: trends and implications
Jack L. Goodman, Yana Hudson and Scott Yermish
148: Prediction techniques for Box-Cox regression models
Sean Collins
147: Inferring market power from time-series data: the case of the banking firm
Timothy H. Hannan and J. Nellie Liang
146: Equity underwriting risk
J. Nellie Liang and James M. O'Brien
145: Financial accounting for pensions: measures of funding status
Mark J. Warshawsky
144: Some problems with identification in parametric models
P.A.V.B. Swamy, J.S. Mehta and Peter von zur Muehlen
143: A test of the theory of optimal taxation for the United States: 1870-1989
Gregory D. Hess
142: Are tax rates too volatile? An application of volatility tests to United States tax rates: 1870-1989
Gregory D. Hess
141: Are higher levels of inflation less predictable? A state-dependent conditional heteroskedasticity approach
Allan D. Brunner and Gregory D. Hess
140: Conditional asymmetries in real GNP: a semi-nonparametric approach
Allan D. Brunner
139: Trends and random walks in macroeconomic time series: a re-examination
Glenn Rudebusch
138: Switching costs, market concentration, and prices: the theory and its empirical implications in the bank deposit market
Steven Sharpe
137: Interest rate spreads, credit constraints and investment fluctuations: an empirical investigation
Mark Gertler, Robert Glenn Hubbard and Anil Kashyap
136: Evidence on q and investment for Japanese firms
Takeo Hoshi and Anil Kashyap
135: Production and inventory control at the General Motors Corporation during the 1920s and 1930s
Anil Kashyap and David W. Wilcox
134: The role of banks in reducing financial distress in Japan
Takeo Hoshi, Anil Kashyap and David Scharfstein
133: A securities transactions tax: beyond the rhetoric, what can we really say?
A. Pat White, Paul Kupiec and Gregory Duffee
132: Efficient computation of stochastic coefficients models
I-Lok Chang, Charles Hallahan and P.A.V.B. Swamy
131: Financial liberalization and international trends in stock, corporate bond and foreign exchange market volatilities
Paul H. Kupiec
130: Who invented local power analysis?
Douglas A. McManus
129: Effects of using dependent and independent differences in tests of random walk models against regression models
M.W. Leslie Chandrakantha, J.S. Mehta and P.A.V.B. Swamy
128: Is it possible to find an econometric law that works well in explanation and prediction? The case of Australian money demand
P.A.V.B. Swamy and George S. Tavlas
127: Animal spirits, margin requirements, and stock price volatility
Paul Kupiec and Steven Sharpe
126: Here's looking at you: modelling and policy use of auction price expectations
F. Brayton, W. Kan, Peter Tinsley and Peter von zur Muehlen
125: Asset prices and the conduct of monetary policy: proceedings of the Monetary Affairs Workshop
Richard D. Porter
124: Internal net worth and the investment process: an application to U.S. agriculture
Robert Glenn Hubbard and Anil Kashyap
123: Demographics and household savings
Arthur B. Kennickell
122: R&D spending and manufacturing productivity: an empirical analysis
Eric J. Bartelsman
121: Federally sponsored R&D and productivity growth
Eric J. Bartelsman
120: Optimal interest rate rules with information from money and auction markets
Peter von zur Muehlen
119: On the power of Dickey-Fuller tests against fractional alternatives
Francis Diebold and Glenn Rudebusch
118: Predicting inflation with commodity prices
Peter von zur Muehlen
117: Sticky inflation and interest rate rules with auction prices
Peter von zur Muehlen
116: Differences in the measurement of wealth, wealth inequality, and wealth composition obtained from alternative U.S. wealth surveys
F. Thomas Juster and Kathleen A. Kuester
115: The importance of market psychology in the determination of stock market volatility
Gregory R. Duffee
114: Debt, liquidity constraints, and corporate investment: evidence from panel data
Toni Whited
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