Finance and Economics Discussion Series

From Board of Governors of the Federal Reserve System (U.S.)
Contact information at EDIRC.
Bibliographic data for series maintained by Ryan Wolfslayer ; Keisha Fournillier ().

Access Statistics for this working paper series.
Is something missing from the series or not right? See the RePEc data check for the archive and series.

152: A new test for mean reversion in stock prices

Greg Duffee

151: Measurement and efficiency issues in commercial banking

Allen 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 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 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

J. S. Mehta, P. A. V. B. Swamy and Peter von zur Muehlen

143: A test of the theory of optimal taxation for the United States: 1870-1989

Gregory Hess

142: Are tax rates too volatile? An application of volatility tests to United States tax rates: 1870-1989

Gregory Hess

141: Are higher levels of inflation less predictable? A state-dependent conditional heteroskedasticity approach

Allan Brunner and Gregory Hess

140: Conditional asymmetries in real GNP: a semi-nonparametric approach

Allan 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 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 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?

Greg Duffee, Paul Kupiec and Patricia A. White

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 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 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

Flint Brayton, William 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 Hubbard and Anil Kashyap

123: Demographics and household savings

Arthur B. Kennickell

122: R&D spending and manufacturing productivity: an empirical analysis

Eric Bartelsman

121: Federally sponsored R&D and productivity growth

Eric 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. Juster and Kathleen A. Kuester

115: The importance of market psychology in the determination of stock market volatility

Greg Duffee

114: Debt, liquidity constraints, and corporate investment: evidence from panel data

Toni Whited

113: U.S. corporate leverage: developments in 1987 and 1988

Ben Bernanke, John Campbell and Toni Whited

112: Sticky prices: new evidence from retail catalogs

Anil Kashyap

111: Event risk: an analysis of losses to bondholders and "super poison put" bond covenants

Leland Crabbe

110: Is there a corporate debt crisis? Another look

Mark J. Warshawsky

109: A primer on program trading and stock price volatility: a survey of the issues and the evidence

Greg Duffee, Paul Kupiec and Patricia A. White

108: Institutional investment patterns and corporate financial behavior in the U.S. and Japan

Stephen D. Prowse

107: The dominance of inefficiencies over scale and product mix economies in banking

Allen Berger and David B. Humphrey

106: The treasury yield curve as a cointegrated system

Michael G. Bradley and Stephen A. Lumpkin

105: Some evidence on the empirical significance of credit rationing

Allen Berger and Gregory Udell

104: Futures margins and stock price volatility: is there any link?

Paul Kupiec

103: Dynamic price competition, briefly sunk costs, and entry deterrence

Sally M. Davies

102: Sectoral shifts and interindustry wage differentials

Jean Helwege

101: The evolution of the thrift industry crisis

Alice P. White

100: How common is identification in parametric models?

Douglas A. McManus

99: The long and short of industrial strength pricing

William Kan, Reva Krieger and Peter Tinsley

98: Bank equity values, bank risk, and the implied market value of banks' assets, liabilities, and deposit insurance

Kathleen A. Kuester and James M. O'Brien

96: Co-integration: is it a property of the real world?

J. S. Mehta, P. A. V. B. Swamy and Peter von zur Muehlen

95: Futures margins and stock price volatility: is there any link?

Paul Kupiec

94: The stability of Wicksell's monetary policy rule

Jeffrey Fuhrer and George R. Moore

93: The national survey of small business finances: description and preliminary evaluation

Brenda G. Cox, Gregory E. Elliehausen and John Wolken

92: Real exchange rates, sectoral shifts, and aggregate unemployment

Reva Krieger

91: Animal spirits, margin requirements, and stock price volatility

Paul Kupiec and Steven Sharpe

90: Forecasting output with the composite leading index: an ex ante analysis

Francis Diebold and Glenn Rudebusch

89: Monetary policy rules and the indicator properties of asset prices

Jeffrey Fuhrer and George R. Moore

88: Are real estate specializing depositories viable? The evidence from commercial banks

Robert Eisenbeis and Myron L. Kwast

87: Do firms differ much?

Dean F. Amel and Luke Froeb

86: Bank monitoring and investment: evidence from the changing structure of Japanese corporate banking relations

Takeo Hoshi, Anil Kashyap and David Scharfstein

85: Some red flags concerning market value accounting

Allen Berger, Kathleen A. Kuester and James M. O'Brien

84: A reconciliation of flow of funds and Commerce Department statistics on U.S. international transactions and foreign investment position

Sarah A. Hooker and John F. Wilson

83: Foundations of the structure-conduct-performance paradigm

Timothy Hannan

82: Corporate structure, liquidity, and investment: evidence from Japanese industrial groups

Takeo Hoshi, Anil Kashyap and David Scharfstein

81: Nonparametric exchange rate prediction?

Francis Diebold and James Nason

80: Forecast combination and encompassing: reconciling two divergent literatures

Francis Diebold

79: The effect of Bayesian priors on the moving-average representation of vector autoregressions

James E. Kennedy

78: The causes of financial instability

Martin H. Wolfson

77: Coherent methods of estimating technical progress

Leonard A. Lupo, John D. Sneed and P. A. V. B. Swamy

76: Postretirement health benefit plans: costs and liabilities for private employers

Mark J. Warshawsky

75: Sectoral and aggregate shocks to industrial output in Germany, Japan and Canada

Reva Krieger

74: Dynamics of market concentration

Dean F. Amel and J. Nellie Liang

73: The impact of technology adoption on market structure

Timothy Hannan and John McDowell

72: Tolerance-width groupings for editing banking deposits data: an analysis of variance of variances

Laura L. Bauer and David A. Pierce

71: A theory of credit rationing and the maturity structure of debt

Steven Sharpe

70: Asymmetric information, bank lending, and implicit contracts: a stylized model of customer relationships

Steven Sharpe

69: Microeconomic sources of beta risk instability

Paul Kupiec

68: Systematic risk, market structure and entry barriers

J. Nellie Liang and John Wolken

67: Bank equity values, bank risk, and the implied market values of banks' assets and liabilities

Kathleen A. Kuester and James M. O'Brien

66: Capital structure, bankruptcy costs, and firm-specific human capital

Jean Helwege

65: Loan commitments and bank risk exposure

Robert B. Avery and Allen Berger

64: Returns to bidders and targets in the acquisition process: evidence from the banking industry

Timothy Hannan and John Wolken

63: The impact of bank regulatory requirements on large corporate lending

Timothy Hannan

62: A survey of exchange-traded basket instruments

Paul Kupiec

61: The simple microanalytics of payments system risk

Matthew D. Gelfand and David E. Lindsey

60: Discrimination in consumer lending

Gregory E. Elliehausen and Edward C. Lawrence

59: Price rigidity and market structure: theory and evidence from the banking industry

Allen Berger and Timothy Hannan

58: The adequacy of funding of private defined benefit pension plans

Mark J. Warshawsky

57: Is consumption too smooth? Long memory and the Deaton paradox

Francis Diebold and Glenn Rudebusch

56: The use of survey data in forecasting business fixed investments

Jane Haltmaier

55: Forecasting Australian monetary aggregates

P. A. V. B. Swamy and George Tavlas

54: Underpricing of seasoned issues: the case of U.S. Treasury bills

Paul A. Spindt and Richard W. Stolz

53: Initial margin requirements and stock returns volatility: another look

Paul Kupiec

52: Market structure and the nature of price rigidity: evidence from the market for consumer deposits

David Neumark and Steven Sharpe