Research Papers in Banking and Financial Economics

From Board of Governors of the Federal Reserve System (U.S.)
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103: Tax reform and corporate capital structure

Mark J. Warshawsky

102: Risk-based capital standards for commercial banks

Terrence M. Belton

101: Credit risk in interest rate swaps

Terrence M. Belton

100: The price-concentration relationship in banking

Allen Berger and Timothy Hannan

99: Measuring wealth with survey data: an evaluation of the 1983 Survey of Consumer Finances

Robert B. Avery, Gregory E. Elliehausen and Arthur B. Kennickell

98: Testing for transient bubbles in stock prices

James M. O'Brien

97: Securitization with recourse: an instrument that offers uninsured bank depositors sequential claims

Lawrence M. Benveniste and Allen Berger

96: Private annuity markets in the United States: 1919-1984

Mark J. Warshawsky

95: The impact of underwriting and dealing on bank returns and risks

Myron L. Kwast

94: Trade credit and credit rationing: a theoretical model

John Duca

93: The banking crisis from a macroeconomic perspective

Arnold Kling

92: Substituting loan insurance for intermediation: the private and social benefits of standby letters of credit

Lawrence M. Benveniste and Allen Berger

91: The inefficiency of private financial contracts under asymmetric information: implications for bank regulation, deposit insurance and disintermediation

Arnold Kling

90: Interstate banking: impacts on the payments system

Allen Berger, Joanna H. Frodin and David B. Humphrey

89: An analysis of the short-run money supply process under a reserves operating target

Robert B. Avery and Myron L. Kwast

88: How the stock market could learn to live with index futures and options

Arnold Kling

87: A model of duopoly and meeting or beating competition

Terrence M. Belton

86: Market discipline in regulating bank risk: new evidence from the capital markets

Robert B. Avery, Terrence M. Belton and Michael A. Goldberg

85: An empirical analysis of standby letters of credit

Lawrence M. Benveniste and Allen Berger

84: Decentralized credit markets with intermediaries: a relationship between complete and efficient markets

Lawrence M. Benveniste

83: Futures markets and transaction costs

Arnold Kling

82: Competitive viability in banking: scale, scope, and product mix economies

Allen Berger, Gerald Hanweck and David B. Humphrey

81: Pensions and social security in household portfolios: evidence from the 1983 Survey of Consumer Finances

Robert B. Avery, Gregory E. Elliehausen and Thomas A. Gustafson

80: The role of interstate banking in the diffusion of electronic payments technology

Allen Berger and David B. Humphrey

79: An analysis of risk-based deposit insurance for commercial banks

Robert B. Avery, Gerald Hanweck and Myron L. Kwast

78: The effect of futures markets on money demand

Michael A. Goldberg

77: Stock index futures, transactions costs, and capital formation in a capital asset pricing framework

James M. O'Brien

76: Are there speculative bubbles in stock prices?

James M. O'Brien

75: A model of duopoly and meeting or beating competition

Terrence M. Belton

74: A dynamic analysis of bank failures

Robert B. Avery and Gerald Hanweck

73: Long-run productive efficiency in competitive industries with demand uncertainty

Terrence M. Belton

72: A theoretical comparison of bank capital adequacy requirements and risk related deposit insurance premia

Gerald Hanweck

71: An empirical test of the debt maturity structure irrelevance proposition

Lucy J. Reuben

70: Check processing and ACH scale economies after Federal Reserve pricing

David B. Humphrey

69: An analysis of the short-run money supply mechanism

Robert B. Avery and Myron L. Kwast

68: Tests of the fair game-efficient markets hypothesis

Allen Berger and Roger Craine

67: The informational efficiency of econometric model forecasts

Allen Berger and Spencer Krane

66: Evidence on changes in bank characteristics

John A. Cole, Alfred L. Edwards and Lucy J. Reuben

65: The irrelevance of debt maturity structure

Lucy J. Reuben

64: Economies of scale and scope in banking

George J. Benston, Allen Berger, Gerald Hanweck and David B. Humphrey

63: An analysis of the short-run money supply mechanism

Robert B. Avery and Myron L. Kwast

62: The sensitivity of the prime rate to changes in money market conditions

Michael A. Goldberg

61: The use and meaning of the probability of entry in probable future competition cases: an interpretation

Gerald Hanweck

60: A consumer inertia model of entry deterrence

William Dudley

59: Money and the state-preference model

Arnold Kling

58: The relevance of margin regulations

Michael A. Goldberg

57: Discrimination in consumer credit markets

Robert B. Avery

56: The economics of the 1975-1978 home price boom

Arnold Kling

55: Profitability differences among large commercial banks during the 1970's

Myron L. Kwast and John T. Rose

54: Credit scoring models with discriminant analysis and truncated samples

Robert B. Avery