Working Papers

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95-27: Evolution, coordination, and banking panics

Ted Loch Temzelides

95-26: Beliefs, competition, and bank runs

Bernardino Adao and Ted Loch Temzelides

95-25: The long-run variance of output and inflation under alternative monetary policy rules

Tom Stark and Herbert E. Taylor

95-24: Informational events that trigger currency attacks

Stephen Morris and Hyun Song Shin

95-23: The discount window and credit availability

Sherrill Shaffer

95-22: Expectations and the effects of monetary policy

Laurence Ball and Dean Croushore

95-21: Is U.S. economic performance really that bad?

Leonard Nakamura

95-20: Some empirical evidence on money demand from a cash-in-advance model

Keith Sill

95-19: Simulations of failure in a payment system

James McAndrews and George Wasilyew

95-18: Is high school economically relevant for noncollege youth?

William J. Stull

95-17: New directions in information and screening in real estate finance

William Lang and Leonard Nakamura

95-16: Mortgage credit availability in low-and moderate-income neighborhoods: are information externalities critical?

Paul S. Calem

95-15: The differential effects of monetary policy shocks on regional economic activity

Gerald Carlino and Robert H. DeFina

95-14: Toward a theory of international currency: a step further

Alberto Trejos and Randall Wright

95-13/R: Functional forms and declining average costs

Sherrill Shaffer

95-13/RR: The translog form and declining average costs

Sherrill Shaffer

95-13: Translog bias under declining average costs

Sherrill Shaffer

95-12: Banks and derivatives

Gary Gorton and Richard Rosen

95-11: Parking, transit and employment in a central business district

Richard Voith

95-10: Consumer behavior and the stickiness of credit card interest rates

Paul S. Calem and Loretta Mester

95-9: Unemployment spells and income distribution dynamics

Ana Castaneda, Javier Díaz-Giménez and José-Víctor Ríos-Rull

95-8: Recovering technologies that account for generalized managerial preferences: an application to non-risk neutral banks

Joseph Hughes, William Lang and Loretta Mester

95-7: The simple analytics of observed discrimination in credit markets

Paul S. Calem and Michael Stutzer

95-6: Universal banking, intertemporal risk smoothing, and European financial integration

Franklin Allen and Douglas Gale

95-5: The dynamics of the exchange rate under a crawling peg regime: a game theory approach

Gregory P. Hopper

95-4: Financial markets, intermediaries, and intertemporal smoothing

Franklin Allen and Douglas Gale

95-3: A welfare comparison of intermediaries and financial markets in Germany and the U.S

Franklin Allen and Douglas Gale

95-2: Structural screens in stochastic markets

Sherrill Shaffer

95-1: Valuation equilibria with transactions costs

Satyajit Chatterjee and P. Dean Corbae

94-28: Realignment risk in the exchange rate mechanism: evidence from pound- mark cross-rate options

Jose Campa and P.H. Kevin Chang

94-27: Competition and specialization in the hospital industry: an application of Hotelling's location model

Paul S. Calem and John Rizzo

94-26: Evaluating McCallum's rule for monetary policy

Dean Croushore and Tom Stark

94-25: Money and finance in a model of costly commitment

Satyajit Chatterjee and P. Dean Corbae

94-24: Time-varying consumption betas and the foreign exchange market

Gregory P. Hopper

94-23: Does monetary policy have differential regional effects?

Gerald Carlino and Robert H. DeFina

94-22: Equilibrium business cycles with idle resources and variable capacity utilization

Thomas Cooley, Gary Hansen and Edward Prescott

94-21: Fares, service levels, and demographics: what determines commuter rail ridership in the long run?

Richard Voith

94-20: Banks, payments, and coordination

James McAndrews and William Roberds

94-19: Branch banking and the geography of bank pricing

Paul S. Calem and Leonard Nakamura

94-18: Chaos, taxes, stabilization, and turnover

Sherrill Shaffer

94-17: By force of habit: a consumption-based explanation of aggregate stock market behavior

John Campbell and John Cochrane

94-16: Evidence of monopoly power among credit card banks

Sherrill Shaffer

94-15: Information and screening in real estate finance: an introduction

William Lang and Leonard Nakamura

94-14: Money, output, and the cyclical volatility of the term structure

Keith Sill

94-13: Convergence and the U.S states: a time series analysis

Gerald Carlino and Leonard O. Mills

94-12: Revenues from the inflation tax and the Laffer curve: some preliminary empirical findings for Argentina and Israel

Carlos Zarazaga

94-11: Viability of traditional banking activities: evidence from shifts in conduct and excess capacity

Sherrill Shaffer

94-10: Models of the term structure of interest rates

John Campbell, Andrew Lo and A. Craig MacKinlay

94-9: Financing constraints and investment: new evidence from hospital industry data

Paul S. Calem and John Rizzo

94-8: Bank managers' objectives

Joseph Hughes and Loretta Mester