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Technological change, financial innovation, and diffusion in banking

Frame, W. Scott; White, Lawrence J. - 2009

This paper discusses the technological change and financial innovation that commercial banking has experienced during … the past quarter century has been a period of substantial change in terms of banking products, services, and production …

Persistent link: https://www.econbiz.de/10010292293

Are Scale Economies in Banking Elusive or Illusive?

Hughes, Joseph P.; Mester, Loretta J.; Moon, Choon-Geol - 2000

, the paper bridges the gulf between (1) the banking literature that studies moral hazard effects of bank regulation without …

Persistent link: https://www.econbiz.de/10010334274

California Banking in the Nineteenth Century: The Art and Method of the Bank of A. Levy

White, Eugene - 1999

California during the National Banking Era (1864-1914). This period has been intensively analyzed at the macroeconomic level, but …

Persistent link: https://www.econbiz.de/10010334296

Recovering Risky Technologies Using The Almost Ideal Demand System: An Application To U.S. Banking

Hughes, Joseph P.; Mester, Loretta J.; Lang, William; … - 2000

between the risk-incentives literature in banking that ignores the microeconomics of production and the production literature …

Persistent link: https://www.econbiz.de/10010334306

The future of large, internationally active banks: Does scale define the winners?

Hughes, Joseph P.; Mester, Loretta J. - 2015

Our research as well as that by other authors has found scale economies at all sizes of banks and the largest scale economies at the largest banks - that is, larger banks are able to provide products at lower average cost than smaller banks. While the earlier literature found that scale...

Persistent link: https://www.econbiz.de/10011687916

Measuring agency costs and the value of investment opportunities of U.S. bank holding companies with stochastic frontier estimation

Hughes, Joseph P.; Mester, Loretta J.; Moon, Choon-Geol - 2016

By eliminating the influence of statistical noise, stochastic frontier techniques permit the estimation of the best-practice value of a firm´s investment opportunities and the magnitude of a firm´s systematic failure to achieve its best-practice market value - a gauge of the magnitude of...

Persistent link: https://www.econbiz.de/10011687921

Market discipline working for and against financial stability: The two faces of equity capital in U.S. commercial banking

Hughes, Joseph P.; Mester, Loretta J.; Moon, Choon-geol - 2016

The second Basel Capital Accord points to market discipline as a tool to reinforce capital standards and supervision in promoting bank safety and soundness. The Bank for International Settlements contends that market discipline imposes strong incentives on banks to operate in a safe and...

Persistent link: https://www.econbiz.de/10011687927

Capital regulation: Less really can be more when incentives are socially aligned. Comments on Richard J. Herring "The Evolving Complexity of Capital Regulation". "The Interplay of...

Hughes, Joseph P. - 2017

Capital regulation has become increasingly complex as the largest financial institutions arbitrage differences in requirements across financial products to increase expected return for any given amount of regulatory capital, as financial regulators amend regulations to reduce arbitrage...

Persistent link: https://www.econbiz.de/10011687931

Inside money, investment, and unconventional monetary policy

Altermatt, Lukas - 2018

I develop a new monetarist model to analyze why an economy can fall into a liquidity trap, and what the effects of unconventional monetary policy measures such as helicopter money and negative interest rates are under these circumstances. I find that liquidity traps can be caused by a decrease...

Persistent link: https://www.econbiz.de/10011969182

Money, banking and financial markets

Andolfatto, David; Berentsen, Aleksander; Martin, … - 2017

The fact that money, banking, and financial markets interact in important ways seems self-evident. The theoretical … banking and financial markets with the Lagos and Wright (2005) dynamic model of monetary exchange - a union that bears a … central bank lender-of-last-resort facility to promote efficient liquidity insurance and a panic-free banking system. …

Persistent link: https://www.econbiz.de/10011969184

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