Journal Article
How have the banking system and the process of financial intermediation changed?
Kwast, Myron L. (2007-01-02)
Comparing and contrasting the U.S. banking and financial system in 1986 and in 2006, the author notes that the most notable difference is the current system's resilience and health in spite of some significant shocks. One reason for this health, he believes, is the changing bank supervisory environment, particularly the move toward stronger capital standards and more risk-focused supervision. Among other positive developments he highlights are the increase in market discipline and improvements in risk measurement and management.
Economic Review , Issue Q1-2 , Pages 76 - 82

Journal Article
Money and interest rates under a reserves operating target
Kwast, Myron L.; Avery, Robert B. (1993-04)
This study examines the short-run dynamic relationships between nonborrowed reserves, the federal funds rate, and transaction accounts using daily data from 1979 through 1982. Separate models are estimated for each day of the week, and simulation experiments are performed. The results suggest that the funds rate responded quite rapidly to a change in nonborrowed reserves, but that the short-run nonborrowed reserves multiplier for transaction accounts was only about 18 percent of its theoretical maximum. In addition, the Federal Reserve appeared to accommodate about 65 percent of a permanent ...
Economic Review , Volume 29 , Issue Q II , Pages 24-34

Conference Paper
The subsidy provided by the federal safety net: theory and measurement
Passmore, Wayne; Kwast, Myron L. (1998-09)
Views about the value to depository institutions of the federal safety net differ widely. Resolution of the issue is important because defining the appropriate relationship between the federal safety net and financial institutions is central to the design of efficient financial modernization strategies. A model is presented of how the safety net subsidy affects the size of the banking system and the behavior of banks. The model suggests that banks should have lower capital ratios than similar nonbank financial firms. Evidence is presented that supports this prediction, and that banks have ...
Proceedings , Issue Sep

Discussion Paper
An analysis of the short-run money supply mechanism
Kwast, Myron L.; Avery, Robert B. (1983)
Research Papers in Banking and Financial Economics , Paper 63

Discussion Paper
An analysis of the short-run money supply process under a reserves operating target
Kwast, Myron L.; Avery, Robert B. (1986)
Research Papers in Banking and Financial Economics , Paper 89

Discussion Paper
The impact of underwriting and dealing on bank returns and risks
Kwast, Myron L. (1987)
Research Papers in Banking and Financial Economics , Paper 95

Discussion Paper
Pricing, operating efficiency, and profitability among large commercial banks
Rose, John T.; Kwast, Myron L. (1980)
Research Papers in Banking and Financial Economics , Paper 44

Discussion Paper
An analysis of risk-based deposit insurance for commercial banks
Hanweck, Gerald A.; Kwast, Myron L.; Avery, Robert B. (1985)
Research Papers in Banking and Financial Economics , Paper 79

Discussion Paper
An analysis of the behavior of mature black-owned commercial banks
Black, Harold A.; Kwast, Myron L. (1980)
Research Papers in Banking and Financial Economics , Paper 42

Discussion Paper
An analysis of the short-run money supply mechanism
Kwast, Myron L.; Avery, Robert B. (1983)
Later edition, No. 89
Research Papers in Banking and Financial Economics , Paper 69