Journal Article
Safe and sound banking twenty years later: what was proposed and what has been adopted
Furlong, Frederick T.; Kwan, Simon H. (2007-01-02)
This article assesses the extent to which changes in public policy regarding depository institutions have aligned with the recommendations made twenty years ago in Perspectives on Safe and Sound Banking (Benston et al. 1986). Several legislative initiatives and bank regulatory and supervisory changes during the past two decades have been in keeping with Benston and his coauthors' recommendations and analyses. But other recommendations in the book have not been followed, and some proposals the book rejected have been enacted through legislation or regulation. ; The article focuses in turn on ...
Economic Review , Issue Q1-2 , Pages 1 - 23

Working Paper
Bank capital regulation: a reconciliation of two viewpoints
Furlong, Frederick T.; Keeley, Michael C. (1987)
There are two seemingly inconsistent strands of the finance literature regarding the effects of bank capital regulation. On the one hand, the value maximization literature implies that more stringent capital regulation will reduce the probability of bank failure and the risk exposure of the deposit insurance fund. On the other hand, the utility-maximization literature, using the Markowitz two-parameter portfolio model, concludes that more stringent capital regulation will increase asset risk and can increase the probability of bank failure. ; In this paper, we show that this seeming ...
Working Papers in Applied Economic Theory , Paper 87-06

Working Paper
Does capital regulation affect bank risk-taking?
Furlong, Frederick T.; Keeley, Michael C. (1987)
Working Papers in Applied Economic Theory , Paper 87-08

Report
The subprime mortgage market: national and Twelfth District developments
Furlong, Frederick T.; Krainer, John (2007)
Annual Report

Journal Article
Did the housing boom affect mortgage choices?
Furlong, Frederick T.; Takhtamanova, Yelena (2012)
Rapid house price appreciation during the housing boom significantly influenced homebuyer selection of adjustable-rate mortgages over fixed-rate mortgages. In markets with high house price appreciation, house price gains directly influenced mortgage choice. But in markets with less appreciation, price gains did not influence borrower choices between adjustable or fixed-rate mortgages. In addition, the influence of fundamental drivers of mortgage choice, such as mortgage interest rate margins, tended to be muted in markets with high price appreciation.
FRBSF Economic Letter

Journal Article
Profile of a recession - the U.S. and California
Furlong, Frederick T.; Daly, Mary C. (2002)
FRBSF Economic Letter

Journal Article
Household formation among young adults
Furlong, Frederick T. (2016)
The muted housing recovery in recent years can be traced in part to slower household formation among young adults. Analysis suggests that the boom and bust in housing has been a key factor. Recent weakness in household formation relative to population growth among young adults represents a reversal of the unusual strength during the boom years. The net effect has left shares of current young adults heading households at levels similar to those in the mid-1990s before the housing boom.
FRBSF Economic Letter

Journal Article
FCS: at the crossroad, again
Furlong, Frederick T.; Nielsen, John M. (1987)
FRBSF Economic Letter

Journal Article
The Federal safety net for commercial banks: pt. I
Furlong, Frederick T.; Keran, Michael W. (1984)
FRBSF Economic Letter

Journal Article
Corporate cash flow and investment
Furlong, Frederick T.; Weiss, Michael R. (1990)
FRBSF Economic Letter