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Author:Mengle, David L. 

Working Paper
Logit analysis of the effect of rent control on housing quality

Rent control is one of the few policy issues on which there is a general agreement among economists. Economic theory predicts, and few economists have tried to dispute, that imposing rent controls on a housing market is likely to lead to rental housing shortages and general deterioration of quality. Even on income distribution grounds, rent control receives poor reviews, since it is generally agreed to be a clumsy and inexact means of helping the poor.
Working Paper , Paper 85-06

Journal Article
Daylight overdrafts and payments system risks

During the last several years, the banking community has become increasingly aware of the risks faced by participants on electronic funds transfer (EFT) networks. Of particular concern have been the volume and incidence of daylight overdrafts on Fedwire and the risk of systemic failure due to the failure of a participant on one of the private EFT networks. In this article, David L. Mengle develops an economic framework for analyzing the risks borne by network participants, and then discusses several alternative risk reduction measures. Mengle argues that, on Fedwire, pricing of daylight ...
Economic Review , Volume 71 , Issue May , Pages 14-27

Journal Article
Interstate branch banking

Cross Sections , Issue Win , Pages 1-2

Journal Article
SIC: Switzerland's new electronic interbank payment system

It is an article of faith among American bankers and their regulators that some daylight overdrafts are necessary to the efficient functioning of large-dollar wire transfer systems. But the Swiss have injected an element of doubt by developing a system that does away with daylight overdrafts. Their new system processes a payment only if sufficient clearing funds are on deposit in the sending banks reserve account. If sufficient funds are not available, the payment is held in a queue until covering funds have arrived. Vital and Mengle describe the first eighteen months of the systems operation.
Economic Review , Volume 74 , Issue Nov , Pages 12-27

The discount window


Conference Paper
How market value accounting would affect banks

Proceedings , Paper 336

Journal Article
A review of bank performance in the Fifth District, 1987

Profits at Fifth District commercial banks declined significantly during 1987. But the Fifth District decline pales in comparison with the dramatic fall in profitability for banks in the rest of the nation. Much of the decline in both Fifth District banks and throughout the nation was due to increased loan loss provisions at large banks, mostly against expected losses on Third World loans.
Economic Review , Volume 74 , Issue Jul , Pages 13-18

Working Paper
Legal and regulatory reform in electronic payments: an evaluation of finality of payment rules

Each day approximately $1.3 trillion changes hands by means of wholesale wire transfers. Of this total, about $638 billion is exchanged on Fedwire, the Federal Reserve wire transfer network, while just under $622 billion moves over the privately-owned Clearing House Interbank Payment System (CHIPS). On Fedwire, the average transfer is $2.9 million, while transfers on CHIPS average $4.6 million. With such substantial amounts involved in virtually instantaneous transactions, it is not surprising that concern has risen over risks that a large network network participant will fail to settle its ...
Working Paper , Paper 88-02

Journal Article
Behind the money market: clearing and settling money market instruments

When a money market instrument is traded, the clearing and settlement process establishes the change in ownership. Because the process involves both costs and risks, money market participants have developed means of making clearing and settlement more efficient and less risky.
Economic Review , Volume 78 , Issue Sep , Pages 3-11

Journal Article
The discount window

An abstract for this article is not available
Economic Review , Volume 72 , Issue May , Pages 2-10