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Keywords:Markets 

Journal Article
This little piggy restricted market access

Fedgazette , Volume 17 , Issue Sep , Pages 13

Conference Paper
Market discipline in the banking industry: evidence from spread dispersion

Proceedings , Paper 1096

Speech
Getting markets in synch with monetary policy

Presentation to the First Annual Missouri Economics Conference, University of Missouri-Columbia - May 4, 2001
Speech , Paper 58

Monograph
Free enterprise; the economics of cooperation

Monograph

Working Paper
Market power in outputs and inputs: an empirical application to banking

This paper provides evidence on the empirical separability of input and output market imperfections. We specify a model of banking competition and simultaneously estimate bank conduct in output (loan) and input (deposit) markets. Our results suggest that firms display some degree of non-competitive behavior in both the loan and the deposit markets. Moreover, we find that the input side and the output side are empirically separable, that is, the measurement of market power on one side of the market is not affected by assuming that the other side of the market is perfectly competitive. Our ...
Finance and Economics Discussion Series , Paper 2002-52

Working Paper
Circuit breakers with uncertainty about the presence of informed agents: I know what you know . . . I think

This study conducts experimental asset markets to examine the effects of circuit breaker rules on market behavior when agents are uncertain about the presence of private information. Our results unequivocally indicate that circuit breakers fail to temper unwarranted price movements in periods without private information. Agents appear to mistakenly infer that others possess private information, causing price to move away from fundamental value. Allocative efficiencies in our markets are high across all regimes. Circuit breakers perform no useful function in our experimental asset markets.
FRB Atlanta Working Paper , Paper 2002-25

Conference Paper
Regulatory reforms to reduce financial fragility

Proceedings , Paper 1136

Journal Article
Markets for safety : product recalls yield mixed effects on firms

There have been a number of high-profile cases of product recalls recently. Those incidents suggest that the marketplace generally works as economists would predict. Firms that produce defective goods usually take a hit to their reputation and their bottom line, though there are exceptions.
Econ Focus , Volume 14 , Issue 2Q , Pages 16-18

Working Paper
Market run-ups, market freezes, inventories, and leverage

This paper supersedes Working Paper No. 12-8.> We study trade between an informed seller and an uninformed buyer who have existing inventories of assets similar to those being traded. We show that these inventories may lead to prices that increase even absent changes in fundamentals (a .run-up.), but may also make trade impossible (a .freeze.) and hamper information dissemination. Competition may amplify the run-up by inducing buyers to enter loss-making trades at high prices to prevent a competitor from purchasing at a lower price and releasing bad news about inventory values. Inventories ...
Working Papers , Paper 13-14

Conference Paper
Market discipline, disclosure and moral hazard in banking

Proceedings , Paper 861

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Bond, Philip 4 items

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