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On the cyclical behavior of employment, unemployment and labor force participation

Veracierto, Marcelo - Federal Reserve Bank of Chicago - 2002

decisions can simultaneously account for the observed behavior of employment, unemployment and out-of-the-labor-force. This … unemployment and out-of-the-labor-force into a single non-employment state or assuming a fixed labor force participation. Once the …

Persistent link: https://www.econbiz.de/10005419891

The quest for the natural rate: evidence from a measure of labor market turbulence

Rissman, Ellen R. - Federal Reserve Bank of Chicago - 1998

The natural rate of unemployment changes over time as a result of structural shifts in the distribution of employment …. A time--varying measure of the natural rate is constructed as the rate of unemployment that is consistent with the … economy growing at its equilibrium rate, conditional on the level of labor market turbulence. The natural rate of unemployment …

Persistent link: https://www.econbiz.de/10005726325

Bank competition and regulatory reform: the case of the Italian banking industry

Cetorelli, Nicola; Angelini, Paolo - Federal Reserve Bank of Chicago - 1999

This study analyzes the evolution of competitive conditions in the Italian banking industry using firm-level balance sheet data for the period 1983-1997. Regulatory reform, large-scale consolidation, and competitive pressure from other European countries have changed substantially the banking...

Persistent link: https://www.econbiz.de/10005419960

For how long are newly chartered banks financially fragile?

DeYoung, Robert - Federal Reserve Bank of Chicago - 2000

chartering activity just preceding the banking recession of the late-1980s. We compare new banks to a benchmark sample of 2 … banks chartered just prior to the banking recession failed at the highest rates, and their estimated hazard functions …

Persistent link: https://www.econbiz.de/10005420003

Regulatory incentives and consolidation: the case of commercial bank mergers and the Community Reinvestment Act

Bostic, Raphael; Mehran, Hamid; Paulson, Anna; … - Federal Reserve Bank of Chicago - 2002

Bank regulators are required to consider a bank’s record of providing credit to low- and moderate-income neighborhoods and individuals in approving bank applications for mergers and acquisitions. We test the hypothesis that banks strategically prepare for the regulatory and public scrutiny...

Persistent link: https://www.econbiz.de/10005420012

State-contingent bank regulation with unobserved action and unobserved characteristics

Marshall, David A.; Prescott, Edward Simpson - Federal Reserve Bank of Chicago - 2002

This paper studies bank capital regulation under deposit insurance when bank attributes and actions are private information. Banks are heterogeneous in quality and choose both the mean and variance of their investment strategy. Regulatory tools include capital regulation and state-contingent...

Persistent link: https://www.econbiz.de/10005520017

Deregulation and the relationship between bank CEO compensation and risk taking

Elijah, III Brewer; Hunter, William C.; William E.; … - Federal Reserve Bank of Chicago - 2003

The deregulation of the banking industry during the 1990s provides a natural (public policy) experiment for investigating how firms adjust their executive compensation contracts as the environment in which they operate becomes relatively more competitive. Using the Riegle-Neal Act of 1994 as a...

Persistent link: https://www.econbiz.de/10005520029

Subordinated debt and prompt corrective regulatory action

Evanoff, Douglas D.; Wall, Larry D. - Federal Reserve Bank of Chicago - 2003

Several recent studies have recommended greater reliance on subordinated debt as a tool to discipline bank risk taking. Some of these proposals recommend using subordinated debt yield spreads as additional triggers for supervisory discipline under prompt corrective action (PCA); action that is...

Persistent link: https://www.econbiz.de/10005726290

Do regulators search for the quiet life? the relationship between regulators and the regulated in banking

Rosen, Richard J. - Federal Reserve Bank of Chicago - 2001

In some industries, firms are able to choose who regulates them. There is a long debate over whether regulatory competition is beneficial or whether it leads to a race for the bottom. We introduce another possible issue with regulation. Regulators may take actions intended to minimize the effort...

Persistent link: https://www.econbiz.de/10005726306

The informational advantage of specialized monitors: the case of bank examiners

DeYoung, Robert; Flannery, Mark J.; Lang, William W.; … - Federal Reserve Bank of Chicago - 1998

Large commercial banking firms are monitored by specialized private sector monitors and by specialized government examiners. Previous research suggests that bank exams produce little useful information that is not already reflected in market prices. In this article, we apply a new research...

Persistent link: https://www.econbiz.de/10005726307