Working Papers

From Federal Reserve Bank of Philadelphia
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00-2: Does current-quarter information improve quarterly forecasts for the U.S. economy?

Tom Stark

00-1: Optimal financial contracts for large investors: the role of lender liability

Mitchell Berlin and Loretta Mester

99-22: Does the tax treatment of housing create an incentive for exclusionary zoning and increased decentralization?

Richard Voith

99-21: A real-time data set for marcoeconomists: does the data vintage matter?

Dean Croushore and Tom Stark

99-20: Schumpeterian growth and endogenous business cycles

Kerk Phillips and Jeffrey Wrase

99-19: Using state indexes to define economic regions in the U.S

Theodore M. Crone

99-18: Competitive theories for economies with general transactions technology

Satyajit Chatterjee and P. Dean Corbae

99-17: Regime-switching in expectations over the business cycle

Gwen Eudey and Roberto Perli

99-16: On exchange rate regimes, exchange rate fluctuations, and fundamentals

Luca Dedola and Sylvain Leduc

99-15: Does data vintage matter for forecasting?

Dean Croushore and Tom Stark

99-14: Solving and simulating a simple open-economy model with Markov-switching driving processes and rational learning

Keith Sill and Jeffrey Wrase

99-13: Exchange rates and monetary policy regimes in Canada and the U.S

Keith Sill and Jeffrey Wrase

99-12: Growth and risk-sharing with private information

Aubhik Khan and B Ravikumar

99-11: Financial development and economic growth

Aubhik Khan

99-10: Postwar trends in metropolitan employment growth: decentralization and deconcentration

Gerald Carlino and Satyajit Chatterjee

99-9: Measuring housing services inflation

Theodore M. Crone, Leonard Nakamura and Richard Voith

99-8: Financial contracts and the legal treatment of informed investors

Mitchell Berlin and Loretta Mester

99-7: A Bayesian VAR forecasting model for the Philadelphia Metropolitan Area

Theodore M. Crone and Michael P. McLaughlin

99-6: Exchange rates, monetary policy regimes, and beliefs

Keith Sill and Jeffrey Wrase

99-5: Quantitative asset pricing implications of endogenous solvency constraints

Fernando Alvarez and Urban Jermann

99-4: A real-time data set for macroeconomists

Dean Croushore and Tom Stark

99-3: Nonobviousness and the incentive to innovate: an economic analysis of intellectual property reform

Robert Hunt

99-2: A welfare comparison of pre- and post-WWII business cycles: some implications for the role of postwar macroeconomic policies

Satyajit Chatterjee and P. Dean Corbae

99-1: What explains the dramatic changes in cost and profit performance of the U.S. banking industry?

Allen Berger and Loretta Mester

98-25: Checking accounts and bank monitoring

Loretta Mester, Leonard Nakamura and Micheline Renault

98-24: Discouraging Federal actions that reduce the value of private property: evaluating procedural and financial approaches

Robert Hunt and Tim VandenBerg

98-23: The tax treatment of housing: its effects on bounded and unbounded communities

Joseph Gyourko and Richard Voith

98-22: Deposits and relationship lending

Mitchell Berlin and Loretta Mester

98-21: Measuring housing services inflation

Theodore M. Crone, Leonard Nakamura and Richard Voith

98-20: Regulatory solvency prediction in property-liability insurance: risk-based capital, audit ratios, and cash flow simulation

John Cummins, Martin Grace and Richard Phillips

98-19: Organizational form and efficiency: an analysis of stock and mutual property-liability insurers

John Cummins, Mary Weiss and Hongmin Zi

98-18: Consolidation and efficiency in the U.S. life insurance industry

John Cummins, Sharon Tennsyson and Mary Weiss

98-17: Monetary policy and the U.S. and regions: some implications for European Monetary Union

Gerald Carlino and Robert H. DeFina

98-16: Regionalization and home bias: the case of Canada

Janet Ceglowski

98-15: Has the border narrowed?

Janet Ceglowski

98-14: Evaluating inflation forecasts

Dean Croushore

98-13: Expectations and the effects of monetary policy

Laurence Ball and Dean Croushore

98-12: A Bayesian vector error corrections model of the U.S. economy

Tom Stark

98-11: The cyclical behavior of regional per capita incomes in the postwar period

Gerald Carlino and Keith Sill

98-10: The dollars and sense of bank consolidation

Joseph Hughes, William Lang and Loretta Mester

98-9: Pricing with frictions

Kenneth Burdett, Shouyong Shi and Randall Wright

98-8: A note on purifying mixed strategy equilibria in the search-theoretic model of fiat money

Randall Wright

98-7: Transportation investments in the Philadelphia metropolitan area: who benefits? Who pays? And what are the consequences?

Richard Voith

98-6: Aggregate employment growth and the deconcentration of metropolitan employment

Gerald Carlino and Satyajit Chatterjee

98-5: Measurement of retail output and the retail revolution

Leonard Nakamura

98-4: Risk and return within the single-family housing market

Theodore M. Crone and Richard Voith

98-3: Measuring efficiency when market prices are subject to adverse selection

Joseph Hughes

98-2: Measuring the efficiency of capital allocation in commercial banking

Joseph Hughes, William Lang, Choon-Geol Moon and Michael S. Pagano

98-1: Credit union policies and performance in Latin America

Sherrill Shaffer and Glenn D. Westley

97-28: Regional employment dynamics

Keith Sill