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Journal Article
Tax disincentives to commercial bank lending
Journal Article
Short-term interest rate futures
An abstract for this article is not available
Journal Article
The future of deposit insurance: an analysis of the alternatives
Deposit insurance, while reducing the threat of bank runs, also lessens bankers incentives to control risks. Reforms of the deposit insurance system are necessary to discourage excessive risk taking such as characterized the recent S&L crisis. The adoption of market value accounting, early closing of failed banks, and exposing uninsured depositors and creditors to lossesall would give bankers less incentives to take excessive risks with insured deposits.
Journal Article
Over-the-counter interest rate derivatives
Journal Article
An analysis of Federal Reserve pricing
An abstract for this article is not available
Journal Article
Money market futures
Virtually all financial innovation in the U.S. money market during the past 20 years has centered on interest rate derivatives, including futures and swaps. Furthermore, money market futures--especially futures contracts on Eurodollar time deposits--have been at the vanguard of the recent explosion of trading activity in interest rate derivatives. While futures markets traditionally have been viewed as markets for the transfer of price risk, recent research shows that they may serve other important economic functions as well.
Journal Article
The Monetary Control Act and the role of the Federal Reserve in the interbank clearing market
The Monetary Control Act of 1980 radically changed the role of the Federal Reserve in the interbank clearing market. Among other things, the Act required the Fed to give all depository institutions equal access to its payments services and to price those services competitively. In this article, Anatoli Kuprianov explains why Congress legislated this change. At least three developments in the 1970s, including the introduction of electronic payments systems, the deregulation of the thrift industry, and the decline in membership in the Federal Reserve System, forced consideration of the ...
Journal Article
The economic outlook for the Fifth District states in 1984 : forecasts from vector autoregression models
Anatoli Kuprianov and William Lupoletti employ the VAR technique to forecast the regional economy in The Economic Outlook for Fifth District States in 1984. The authors document the experiences of the economies of Maryland, Virginia, West Virginia, North Carolina, South Carolina, and the District of Columbia over the past 25 years. After summarizing the differences between conventional and VAR forecasting models, they present forecasts of each state for 1984 produced by a five-variable VAR model. These forecasts suggest that the recovery of 1983 should continue through 1984 for most Fifth ...