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LIBOR: Origins, economics, crisis, scandal, and reform

Hou, David; Skeie, David - 2014

The London Interbank Offered Rate (LIBOR) is a widely used indicator of funding conditions in the interbank market. As of 2013, LIBOR underpins more than $300 trillion of financial contracts, including swaps and futures, in addition to trillions more in variable-rate mortgage and student loans....

Persistent link: https://www.econbiz.de/10011340948

The return to retail and the performance of US banks

Hirtle, Beverly J.; Stiroh, Kevin J. - 2005

The U.S. banking industry is experiencing a renewed focus on retail banking, a trend often attributed to the stability … find that an increased focus on retail banking across U.S. banks is linked to significantly lower equity market and … accounting returns for all banks but lower volatility for only the largest banking companies. We conclude that retail banking may …

Persistent link: https://www.econbiz.de/10010283328

The impact of network size on bank branch performance

Hirtle, Beverly J. - 2005

Despite recent innovations that might have reduced banks' reliance on brick-and-mortar branches for distributing retail financial services, the number of U.S. bank branches has continued to increase steadily over time. Further, an increasing percentage of these branches are held by banks with...

Persistent link: https://www.econbiz.de/10010283383

A note on bank lending in times of large bank reserves

Martin, Antoine; McAndrews, James; Skeie, David - 2011

The amount of reserves held by the US banking system reached $1.5 trillion in April 2011. Some economists argue that … lending in a frictionless model of the current banking system, in which interest is paid on reserves and there are no binding …

Persistent link: https://www.econbiz.de/10010283525

Valuing the Treasury's Capital Assistance Program

Glasserman, Paul; Wang, Zhenyu - 2009

The Capital Assistance Program (CAP) was created by the U.S. government in February 2009 to provide backup capital to large financial institutions unable to raise sufficient capital from private investors. Under the terms of the CAP, a participating bank receives contingent capital by issuing...

Persistent link: https://www.econbiz.de/10010287104

Banking supervision: The perspective from economics

Hirtle, Beverly J. - 2020

Economists have extensively analyzed the regulation of banks and the banking industry, but have devoted considerably … less attention to bank supervision as a distinct activity. Indeed, much of the banking literature has used the terms …

Persistent link: https://www.econbiz.de/10012619529

Gender and dynamic agency: Theory and evidence on the compensation of top executives

Albanesi, Stefania; Olivetti, Claudia; Prados, María José - 2015

We document three new facts about gender differences in executive compensation. First, female executives receive a lower share of incentive pay in total compensation relative to males. This difference accounts for 93 percent of the gender gap in total pay. Second, the compensation of female...

Persistent link: https://www.econbiz.de/10011340990

What's driving the new economy: The benefits of workplace innovation

Black, Sandra E.; Lynch, Lisa M. - 2001

Using a unique nationally representative sample of U.S. establishments surveyed in both 1993 and 1996, we examine the relationship between workplace innovations and establishment productivity and wages. Using both cross-sectional and longitudinal data, we find evidence that high-performance...

Persistent link: https://www.econbiz.de/10010283410

The impact of supervision on bank performance

Hirtle, Beverly J.; Kovner, Anna; Plosser, Matthew - 2016

Does the intensity of supervision affect quantifiable outcomes at supervised firms? We develop a novel proxy to identify plausibly exogenous variation in the intensity of supervision across large U.S. bank holding companies (BHCs), based on the size rank of a BHC within its Federal Reserve...

Persistent link: https://www.econbiz.de/10011537998

The economics of bank supervision

Eisenbach, Thomas M.; Lucca, David O.; Townsend, Robert M. - 2016

We study bank supervision by combining a theoretical model that distinguishes supervision from regulation and a novel dataset on work hours of Federal Reserve supervisors. We highlight the trade-offs between the benefits and costs of supervision and use the model to interpret the relationship...

Persistent link: https://www.econbiz.de/10011537999

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