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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

A general-equilibrium asset-pricing approach to the measurement of nominal and real bank output

Wang, J. Christina; Basu, Susanto; Fernald, John G. - 2008

Persistent link: https://www.econbiz.de/10003794853

A general equilibrium asset-pricing approach to the measurement of nominal and real bank output

Wang, J. Christina; Basu, Susanto; Fernald, John G. - In: Price index concepts and measurement : [revised …, (pp. 273-320). 2009

Persistent link: https://www.econbiz.de/10003943331

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/10011416928

Measuring the performance of banks : theory, practice, evidence, and some policy implications

Hughes, Joseph P.; Mester, Loretta J. - 2013

The unique capital structure of commercial banking - funding production with demandable debt that participates in the … economyś payments system - affects various aspects of banking. It shapes banks ́comparative advantage in providing financial … liabilities to reduce the probability of bank runs. These aspects of banking affect a bankś choice of risk vs. expected return …

Persistent link: https://www.econbiz.de/10009774419

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 firmś investment opportunities and the magnitude of a firmś systematic failure to achieve its best-practice market value - a gauge of the magnitude of agency...

Persistent link: https://www.econbiz.de/10011490908

A general-equilibrium asset-pricing approach to the measurement of nomiinal and real bank output

Wang, J. Christina; Basu, Susanto; Fernald, John G. - 2004

Persistent link: https://www.econbiz.de/10002485414