Working Papers

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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

94-7: The importance of the tax system in determining the marginal cost of funds

Shaghil Ahmed and Dean Croushore

94-6: Shared ownership and pricing in a network switch

James McAndrews and Rafael Rob

94-5: The marginal cost of funds with nonseparable public spending

Shaghil Ahmed and Dean Croushore

94-4: The durability of information, market efficiency, and the size of firms

Arthur Fishman and Rafael Rob

94-3: The optimal inflation tax when income taxes distort: reconciling MUF and shopping-time models

Dean Croushore

94-2: A positive analysis of bank closure

George Mailath and Loretta Mester

94-1/R: Efficiency of banks in the Third Federal Reserve District: a study of bank efficiency taking into account risk-preferences

Loretta Mester

94-1: Efficiency of banks in the Third Federal Reserve District

Loretta Mester

93-30: Entry and exit, product variety and the business cycle

Satyajit Chatterjee and Russell Cooper

93-29: Inventories, production smoothing, and anticipated demand variations

Satyajit Chatterjee and B Ravikumar

93-28: Market conduct and excess capacity in banking: a cross-country comparison

Sherrill Shaffer

93-28/R: Market conduct and aggregate excess capacity in banking: a cross- country comparison

Sherrill Shaffer

93-27/R: Do suburbs need cities?

Richard Voith

93-27: Does city income growth increase suburban income growth, house value appreciation, and population growth?

Richard Voith

93-26: Hyperinflations and moral hazard in the appropriation of seigniorage

Carlos Zarazaga

93-25/R: Macroeconomic risk and Treasury bill pricing: an application of the FACTOR-ARCH model

Keith Sill

93-25: Macroeconomic risk and Treasury bill pricing: an application of the Factor-Arch model

Keith Sill

93-24: Recent research in commercial banking: information and lending

Leonard Nakamura

93-23: The impact of branch banking on pricing and service availability: theory and evidence

Paul S. Calem and Leonard Nakamura

93-22: Testing neoclassical convergence in regional incomes and earnings

Gerald Carlino and Leonard O. Mills

93-21: What determines the sacrifice ratio?

Laurence Ball

93-20: Money and output: the relative importance of real and nominal shocks

Shaghil Ahmed