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Author:Cole, Rebel A. 

Conference Paper
Value creation and excess returns in FSLIC-assisted acquisitions of troubled thrifts

Proceedings , Paper 251

Working Paper
When are thrifts closed? An agency-theoretic model

Finance and Economics Discussion Series , Paper 93-37

Journal Article
Financial services used by small businesses: evidence from the 1993 National Survey of Small Business Finances

Federal Reserve Bulletin , Issue Jul , Pages 629-667

Working Paper
The role of principal agent-conflicts in the 1980s thrift crisis

Finance and Economics Discussion Series , Paper 95-27

Working Paper
Going beyond traditional mortgages: the portfolio performance of thrifts

Financial Industry Studies Working Paper , Paper 90-1

Report
What can we learn from privately held firms about executive compensation?

We study the Green and Lin (2003) model of financial intermediation with two new features: traders may face a cost of contacting the intermediary, and consumption needs may be correlated across traders. We show that each feature is capable of generating an equilibrium in which some (but not all) traders ?run? on the intermediary by withdrawing their funds at the first opportunity regardless of their true consumption needs. Our results also provide some insight into elements of the economic environment that are necessary for a run equilibrium to exist in general models of financial ...
Staff Reports , Paper 314

Working Paper
Commercial banks and real estate lending: the Texas experience

This study analyzes the performance of Texas commercial banks specializing in mortgage lending during the late 1980s and early 1990s to investigate how representative was their experience as compared with that of banks across the country concentrating in real estate lending. The results show that Texas real estate banks (REBs) performed very poorly during the 1980s and early 1990s, but this was because the Texas REBs were clearly different from the majority of the banks classified as REBs in the rest of the country. Texas REBs invested more heavily in commercial mortgages than did other ...
Finance and Economics Discussion Series , Paper 96-15

Working Paper
Agency conflicts and thrift resolution costs

Financial Industry Studies Working Paper , Paper 90-3

Working Paper
Changes in REIT liquidity 1990-94: evidence from intra-day transactions

In this study, we use data on intra-day transactions to analyze whether REIT liquidity as measured by the bid-ask spread changed from 1990 to 1994, a period during which the industry s market capitalization increased from $9 billion to $45 billion. We find that REIT spreads narrowed significantly. We then use a variation of the empirical model proposed by Stoll (1978) to analyze the determinants of percentage spreads including whether spreads are determined by return variability, share price, exchange listing, and asset type. We find strong support for Stoll s model, in that return variance ...
Finance and Economics Discussion Series , Paper 96-22

Journal Article
Bank and nonbank competition for small business credit: evidence from the 1987 and 1993 national surveys of small business finances

Using newly available data from the Board's 1993 National Survey of Small Business Finances together with data from the 1987 survey, this article analyzes competition between banks and nonbanks in the U.S. market for small business credit. It explores nonbank competition as an explanation for the decline in banks' share of business lending by examining sources of credit used by small firms. It examines both the bank and nonbank shares of the dollar amount of credit to small businesses, including how these shares have changed from 1987 to 1993, and the incidence of small business borrowing, ...
Federal Reserve Bulletin , Volume 82 , Issue Nov

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