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

Working Paper
Who uses electronic banking?
Kwast, Myron L.; Kennickell, Arthur B. (1997)
This study uses the 1995 Survey of Consumer Finances to examine households' use of technologies, including electronic means, to carry out transactions at a financial institution and to gain information for making saving and borrowing decisions. Household use of various technologies is correlated with household income, financial assets, age, and years of education. Results suggest that relatively new electronic technologies are used by relatively few households, and that household use of electronic sources of information for financial decisionmaking is barely off the ground.
Finance and Economics Discussion Series , Paper 1997-35

Conference Paper
The subsidy provided by the federal safety net: theory, measurement, and containment
Passmore, Wayne; Kwast, Myron L. (1998)
Proceedings , Paper 599

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

Working Paper
New banking powers: a portfolio analysis of bank investment in real estate
Rosen, Richard J.; Lloyd-Davies, Peter; Kwast, Myron L.; Humphrey, David B. (1988)
Finance and Economics Discussion Series , Paper 20

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

Working Paper
Using subordinated debt to monitor bank holding companies: is it feasible?
Kwast, Myron L.; Hancock, Diana (2001)
Much research is needed to implement a supervisory surveillance system for banking organizations that relies on subordinated debt and other market data. This paper is germane to that task. We find subordinated debt spreads are most consistent across data sources for the most liquid bonds (i.e., those of relatively large issuance size, relatively young age, issued by relatively large firms) traded in a relatively robust overall bond market. We also find there is a high degree of concordance in rankings of firms by their minimum spreads across bonds with especially strong agreement about which ...
Finance and Economics Discussion Series , Paper 2001-22

Working Paper
Are real estate specializing depositories viable? The evidence from commercial banks
Eisenbeis, Robert A.; Kwast, Myron L. (1989)
Finance and Economics Discussion Series , Paper 88

Discussion Paper
Bank regulation and the efficiency of financial intermediation
Boyd, John H.; Kwast, Myron L. (1979)
Research Papers in Banking and Financial Economics , Paper 27

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