Report
Financial Intermediary Balance Sheet Management
Gershun, Natalia; Donaldson, John B.; Giannoni, Marc (2011)
We consider a simple variant of the standard real business cycle model in which shareholders hire a self-interested executive to manage the firm on their behalf. A generic family of compensation contracts similar to those employed in practice is studied. When compensation is convex in the firm?s own dividend (or share price), a given increase in the firm?s output generated by an additional unit of physical investment results in a more than proportional increase in the manager?s income. Incentive contracts of sufficient yet modest convexity are shown to result in an indeterminate general ...
Staff Reports , Paper 531

Journal Article
Federal Reserve : Initiation by fire
Gerena, Charles (2006-10)
Econ Focus , Volume 10 , Issue Fall , Pages 2-5

Journal Article
Interview : Kenneth Elinzga
Steelman, Aaron (2004-07)
Econ Focus , Volume 8 , Issue Sum , Pages 36-39

Journal Article
Interview : James Buchanan
Steelman, Aaron (2004-04)
Econ Focus , Volume 8 , Issue Spr , Pages 32-35

Journal Article
Interview : Robert Litan
Steelman, Aaron (2003-01)
Econ Focus , Volume 7 , Issue Win , Pages 32-35

Journal Article
Richmond Fed appoints new president
anonymous (2004-07)
Econ Focus , Volume 8 , Issue Sum , Pages 2

Journal Article
Executive equity compensation and incentives: a survey
Larcker, David F.; Core, John E.; Guay, Wayne R. (2003-04)
Stock and option compensation and the level of managerial equity incentives are aspects of corporate governance that are especially controversial to shareholders, institutional activists, and government regulators. Similar to much of the corporate finance and corporate governance literature, research on stock-based compensation and incentives has not only generated useful insights, but also produced many contradictory findings. Not surprisingly, many fundamental questions remain unanswered. In this study, the authors synthesize the broad literature on equity-based compensation and executive ...
Economic Policy Review , Volume 9 , Issue Apr , Pages 27-50

Journal Article
Federal Reserve: William McChesney Martin Jr. : a reevaluation
Wood, John H. (2006-01)
Econ Focus , Volume 10 , Issue Win , Pages 2-7

Journal Article
The insider trading debate
Noe, Thomas H.; Hu, Jie (1997-10-04)
Securities trading has generated some of the most sensational scandals in the popular business press. In one of the most publicized cases of insider trading, in the late 1980s Michael R. Milken and Ivan F. Boesky were sentenced to stiff prison terms and payment of enormous damage assessments and punitive penalties. However, at least among economists and legal scholars, insider trading remains a controversial economic transaction. A substantial body of academic and legal scholarship questions whether insider trading is even harmful, much less worthy of legal actions. ; The authors of this ...
Economic Review , Volume 82 , Issue Q 4 , Pages 34-45

Journal Article
Interview : Susan Athey
Steelman, Aaron (2007-10)
Econ Focus , Volume 11 , Issue Fall , Pages 30-35