Similar Search Results

Central bank institutional structure and effective central banking: cross-country empirical evidence

Hasan, Iftekhar; Mester, Loretta J. - Federal Reserve Bank of Philadelphia - 2008

Over the last decade, the legal and institutional frameworks governing central banks and financial market regulatory … of central banks in achieving their objectives and ultimately yielding better economic outcomes. Although much has been … written pointing out the potential role institutional form can play in central bank performance, little empirical work has …

Persistent link: https://www.econbiz.de/10005389603

Applying efficiency measurement techniques to central banks

Mester, Loretta J. - Federal Reserve Bank of Philadelphia - 2003

applying these standard techniques to central banks, and reviews some of the literature that has attempted to apply these … techniques to central banking. The uniqueness of some of the activities of central banking, the difficulty in measuring some of … the central banking outputs, and the complicated and multiple objectives pursued by central banks makes application of the …

Persistent link: https://www.econbiz.de/10005512321

Who said large banks don't experience scale economies? Evidence from a risk-return-driven cost function

Hughes, Joseph P.; Mester, Loretta J. - Federal Reserve Bank of Philadelphia - 2011

Earlier studies found little evidence of scale economies at large banks; later studies using data from the 1990s uncovered such evidence, providing a rationale for very large banks seen worldwide. Using more recent data, the authors estimate scale economies using two production models. The...

Persistent link: https://www.econbiz.de/10009216228

Large capital infusions, investor reactions, and the return and risk performance of financial institutions over the business cycle and recent finanical crisis

Elyasiani, Elyas; Mester, Loretta J.; Pagano, Michael S. - Federal Reserve Bank of Philadelphia - 2011

The authors examine investors' reactions to announcements of large seasoned equity offerings (SEOs) by U.S. financial institutions (FIs) from 2000 to 2009. These offerings include market infusions as well as injections of government capital under the Troubled Asset Relief Program (TARP). The...

Persistent link: https://www.econbiz.de/10009320870

A primer on market discipline and governance of financial institutions for those in a state of shocked disbelief

Hughes, Joseph P.; Mester, Loretta J. - Federal Reserve Bank of Philadelphia - 2012

Self regulation encouraged by market discipline constitutes a key component of Basel II’s third pillar. But high-risk investment strategies may maximize the expected value of some banks. In these cases, does market discipline encourage risk-taking that undermines bank stability in economic...

Persistent link: https://www.econbiz.de/10010552111

Recovering banking technologies when managers are not risk-neutral.

Hughes, Joseph P.; Lang, William; Mester, Loretta J.; … - Federal Reserve Bank of Chicago - 1995

Persistent link: https://www.econbiz.de/10010724399

Efficiency and productivity change in the U.S. commercial banking industry: a comparison of the 1980s and 1990s

Berger, Allen N.; Mester, Loretta J. - Federal Reserve Bank of Philadelphia - 1997

The authors investigate efficiency and productivity growth of the U.S. banking industry over the latter part of the 1980s and first part of the 1990s using comprehensive data on U.S. commercial banks. Cost efficiency decreased slightly between the 1980s and 1990s, and large banks showed a...

Persistent link: https://www.econbiz.de/10005717297

What explains the dramatic changes in cost and profit performance of the U.S. banking industry?

Berger, Allen N.; Mester, Loretta J. - Federal Reserve Bank of Philadelphia - 1999

The authors investigate the sources of recent changes in the performance of U.S. banks using concepts and techniques borrowed from the cross-section efficiency literature. Their most striking result is that during 1991-1997, cost productivity worsened while profit productivity improved...

Persistent link: https://www.econbiz.de/10005717303

Recovering risky technologies using the almost ideal demand system: an application to U.S. banking

Hughes, Joseph P.; Lang, William W.; Mester, Loretta J.; … - Federal Reserve Bank of Philadelphia - 1997

Using modern duality theory to recover technologies from data can be complicated by the risk characteristics of production. In many industries, risk influences cost and revenue and can create the potential for costly episodes of financial distress. When risk is an important consideration in...

Persistent link: https://www.econbiz.de/10005717318

Some thoughts on the evolution of the banking system and the process of financial intermediation

Mester, Loretta J. - In: Economic Review (2007) Q1-2, pp. 67-67

The author discusses three areas she considers important in the evolution of the financial services industry: consolidation and the economies gained from it, governance issues that emerge as the structure of the banking industry changes, and the decline in the market share of banking. This...

Persistent link: https://www.econbiz.de/10005498204