After decades of beating out their peers in the return on average assets race, Eighth District banks now trail the pack.

Reforms enacted after the S&L crisis have yet to persuade holders of jumbo CDs to monitor their banks' risky practices.

The elasticity of substitution between capital and labor features prominently in several areas of economic research. However, a consensus estimate remains elusive. We develop an estimation strategy that filters panel data in an original way and avoids several pitfalls - difficult-to-specify...

This paper illustrates the potential for risk diversification through the common ownership of a hypothetical bank and nonbanking firm. The illustration has several implications for proposals for restructuring the financial system. Banks are not necessarily made safer by requiring that all...