Even in a world with rational expectations, it has been well established theoretically that if the central bank possesses information superior to that available to the public, there is room for effective and socially beneficial countercyclical monetary policy. This paper tests whether...

A key provision of the Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA) was prompt corrective action (PCA). PCA emphasized early intervention by bank supervisors and was intended to limit forbearance by making supervisory intervention more timely and less discretionary....

Japanese banks are among the world's largest global financial intermediaries, with a significant presence in many regions, particularly the United States and Southeast Asia. In addition to being among the world's largest banks, they have some of the world's largest problems. Recent studies have...

This paper studies how a bank’s diversification affects its own risk taking behavior and the risk taking of competing, nondiversified banks. By combining theories of bank organization, market structure and risk taking, I show that greater geographic diversification of banks changes a bank’s...

Remarks by Eric S. Rosengren, President and Chief Executive Officer, Federal Reserve Bank of Boston, at the Federal Reserve Bank of Boston's 57th economic conference, "Fulfilling the Full Employment Mandate - Monetary Policy and the Labor Market", Federal Reserve Bank of Boston, Boston,...

Presentation by Eric S. Rosengren, President and Chief Executive Officer, Federal Reserve Bank of Boston, for the European Economics and Financial Centre Distinguished Speakers Seminar, London, England, November 10, 2009