Search Results

(refine search)

SORT BY: PREVIOUS / NEXT

All:
Title:
Author:
Abstract:
Keywords:

+ Add Search Parameter

Report
Banks versus Hurricanes: A Case Study of Puerto Rico after Hurricanes Irma and Maria
Anagnostakos, Peter; Bram, Jason; Chan, Benjamin; Fischl-Lanzoni, Natalia; Latif, Hasan; Mahoney, James M.; Morgan, Donald P.; Morgan, Ladd; Suarez, Ivelisse (2023-11-01)
We study Puerto Rico’s experience after the severe hurricane season of 2017 to better understand how extreme weather disasters affect bank stability and their ability to lend. Despite the devastation wrought by two category 5 hurricanes in a single month, we find relatively modest and transitory impacts on bank performance with no evident decline in lending capacity. We discuss various mitigants that help limit bank exposure to extreme weather and whether these mitigants may be vulnerable given the potential for more severe and more impactful climate events.
Staff Reports , Paper 1078

Discussion Paper
Crisis Chronicles: The Panic of 1819—America’s First Great Economic Crisis
Narron, James; Morgan, Donald P.; Skeie, David R. (2014-12-05)
As we noted in our last post on the British crisis of 1816, while Britain emerged from nearly a quarter century of war with France ready to supply the world with manufactured goods, it needed cotton to supply the mills, and all of Europe needed wheat to supplement a series of poor harvests. The United States met that demand for cotton and wheat by expanding agricultural production, facilitated by the loose credit policies of a growing number of lightly regulated state banks. Meanwhile, the Treasury needed revenue to pay off debts from the Louisiana Purchase and the War of 1812, so the ...
Liberty Street Economics , Paper 20141205c

Report
The information value of the stress test and bank opacity
Morgan, Donald P.; Peristiani, Stavros; Savino, Vanessa (2010)
We investigate whether the ?stress test,? the extraordinary examination of the nineteen largest U.S. bank holding companies conducted by federal bank supervisors in 2009, produced the information demanded by the market. Using standard event study techniques, we find that the market had largely deciphered on its own which banks would have capital gaps before the stress test results were revealed, but that the market was informed by the size of the gap; given our proxy for the expected gap, banks with larger capital gaps experienced more negative abnormal returns. Our findings suggest that the ...
Staff Reports , Paper 460

Journal Article
Trends in financial market concentration and their implications for market stability
Peristiani, Stavros; Cetorelli, Nicola; Morgan, Donald P.; Hirtle, Beverly; Santos, Joao A. C. (2007-03)
The link between financial market concentration and stability is a topic of great interest to policymakers and other market participants. Are concentrated markets - those where a relatively small number of firms hold large market shares - inherently more prone to disruption? This article considers that question by drawing on academic studies as well as introducing new analysis. Like other researchers, the authors find an ambiguous relationship between concentration and instability when a large firm in a concentrated market fails. In a complementary review of concentration trends across a ...
Economic Policy Review , Volume 13 , Issue Mar , Pages 33-51

Working Paper
Bank credit commitments and credit rationing
Morgan, Donald P. (1989)
Research Working Paper , Paper 89-06

Journal Article
Will the shift to stocks and bonds by households be destabilizing?
Morgan, Donald P. (1994-04)
In the last decade, households have tended to shift out of bank deposits and money market funds and into stocks and bonds. Some analysts and journalists worry that the shift could be destabilizing to the economy and financial markets. Consumption spending, it is argued, might fluctuate more because households have invested in riskier stocks and bonds. Financial markets also could be more volatile because households might behave as short-sighted novices who will sell assets in panic at the first dip in the market. In addition, the pension and mutual funds through which households invest tend ...
Economic Review , Volume 79 , Issue Q II , Pages 31-44

Journal Article
Bad debt rising
Toll, Ian; Morgan, Donald P. (1997-03)
Charge-offs on credit card loans are rising sharply. While many analysts blame this trend on an expanding supply of credit cards, a closer look reveals the importance of two demand factors--wealth and the share of the population at peak borrowing age--in explaining the increase in bad debt.
Current Issues in Economics and Finance , Volume 3 , Issue Mar

Discussion Paper
Banks versus Hurricanes
Fischl-Lanzoni, Natalia; Morgan, Ladd; Chan, Benjamin; Bram, Jason; Suarez, Ivelisse; Anagnostakos, Peter; Mahoney, James M.; Morgan, Donald P.; Latif, Hasan (2023-11-20)
The impacts of hurricanes analyzed in the previous post in this series may be far-reaching in the Second District. In a new Staff Report, we study how banks in Puerto Rico fared after Hurricane Maria struck the island on September 17, 2017. Maria makes a worst case in some respects because the economy and banks there were vulnerable beforehand, and because Maria struck just two weeks after Hurricane Irma flooded the island. Despite the immense destruction and disruption Maria caused, we find that the island’s economy and banks recovered surprisingly quickly. We discuss the various ...
Liberty Street Economics , Paper 20231120

Discussion Paper
The ‘Banking Desert’ Mirage
Pinkovskiy, Maxim L.; Perlman, Davy; Morgan, Donald P. (2018-01-10)
Unbanked households are often imagined to live in urban neighborhoods devoid of banks, but is that really the case? Our map of U.S. banking deserts reveals that most are not in urban areas, where financial exclusion may be endemic, but in actual deserts?largely in the sparsely populated, rural West. Across states, we find that the share of the population in a banking desert is unrelated to the share that is unbanked. If distance from a bank is not what causes financial exclusion, then motivating banks to locate closer to the unbanked may not promote financial inclusion.
Liberty Street Economics , Paper 20180110

Journal Article
Are bank loans a force in monetary policy?
Morgan, Donald P. (1992-04)
Economic Review , Volume 77 , Issue Q II , Pages 31-41

show more (35)

PREVIOUS / NEXT

Fed in Print

Search Results

FILTER BY year

FILTER BY Bank

FILTER BY Series

FILTER BY Content Type

FILTER BY Author

FILTER BY Jel Classification

FILTER BY Keywords