Search Results
Showing results 1 to 10 of approximately 86.
(refine search)
Discussion Paper
Crisis Chronicles: The Hamburg Crisis of 1799 and How Extreme Winter Weather Still Disrupts the Economy
Morgan, Donald P.; Skeie, David R.; Narron, James
(2014-08-08)
With intermittent war raging across much of Western Europe near the end of the eighteenth century, by about 1795, Hamburg had replaced Amsterdam as an important hub for commodities trade. And from 1795 to 1799, Hamburg boomed. Prices for goods increased, the harbor was full, and warehouses were bulging. But when a harsh winter iced over the harbor, excess demand and speculation drove up prices. By spring, demand proved lower than supply, and prices started falling, credit tightened, and the decline in prices accelerated. So when a ship bound for Hamburg laden with gold sunk off the coast, an ...
Liberty Street Economics
, Paper 20140808
Report
Payday holiday: how households fare after payday credit bans
Strain, Michael R.; Morgan, Donald P.
(2007)
Payday loans are widely condemned as a ?predatory debt trap.? We test that claim by researching how households in Georgia and North Carolina have fared since those states banned payday loans in May 2004 and December 2005. Compared with households in all other states, households in Georgia have bounced more checks, complained more to the Federal Trade Commission about lenders and debt collectors, and filed for Chapter 7 bankruptcy protection at a higher rate. North Carolina households have fared about the same. This negative correlation?reduced payday credit supply, increased credit ...
Staff Reports
, Paper 309
Journal Article
The Main Street Lending Program
Arseneau, David M.; Van den Heuvel, Skander J.; Fillat, José; Morgan, Donald P.; Mahar, Molly
(2022-06-01)
The Main Street Lending Program was created to support credit to small and medium-sized businesses and nonprofit organizations that were harmed by the pandemic, particularly those that were unsupported by other pandemic-response programs. It was the most direct involvement in the business loan market by the Federal Reserve since the 1930s and 1940s. Main Street operated by buying 95 percent participations in standardized loans from lenders (mostly banks) and sharing the credit risk with them. It would end up supporting loans to more than 2,400 borrowers and co-borrowers across the United ...
Economic Policy Review
, Volume 28
, Issue 1
Journal Article
Local or state? Evidence on bank market size using branch prices
Edelstein, Paul; Morgan, Donald P.
(2006-05)
With the elimination of state laws against branching, banks can now compete across states. They are no longer limited to competing in local markets, defined by the Federal Reserve as metropolitan statistical areas or small groups of rural counties. Accordingly, a "local or state?" debate over market size is taking place among researchers, with some arguing that banking markets are statewide and others contending that they remain local. This article contributes to the debate with a novel, arguably better, indicator of market size: bank branch prices, as opposed to bank deposit rates. The ...
Economic Policy Review
, Volume 12
, Issue May
, Pages 15-25
Journal Article
Monetary policy issues in the 1990s: a summary of the Bank's 1989 symposium
Morgan, Donald P.
(1990-01)
Economic Review
, Volume 75
, Issue Jan
, Pages 50-59
Discussion Paper
Is the 2005 Bankruptcy Reform Working?
Morgan, Donald P.
(2012-06-04)
While the name of the Bankruptcy Abuse Prevention and Consumer Protection Act suggests two goals, BAPCPA seemed to be more about abuse prevention than consumer protection. The abuse alleged by proponents of BAPCPA, particularly credit card lenders, was that filers were using Chapter 7 bankruptcy to avoid paying credit card debt they could afford to pay. BAPCPA aimed to curb the alleged abuse through a variety of obstacles, most notably a means test intended to divert better off filers from Chapter 7, where credit card and other unsecured debts are discharged (forgiven), to Chapter 13, where ...
Liberty Street Economics
, Paper 20120604
Discussion Paper
Climate Change and Financial Stability: The Weather Channel
Blickle, Kristian S.; Morgan, Donald P.
(2022-04-04)
Climate change could affect banks and the financial systems they anchor through various channels: increasingly extreme weather is one (Financial Stability Board, Basel Committee on Bank Supervision). In our recent staff report, we size up this channel by studying how U.S. banks, large and small, fared against disasters past. We find even the most destructive disasters had insignificant or small effects on bank stability and small and positive effects on bank income. We conjecture that recovery lending after disasters helps stabilize larger banks while smaller, local banks’ knowledge of ...
Liberty Street Economics
, Paper 20220404
Report
Bank commitment relationships, cash flow constraints, and liquidity management
Morgan, Donald P.
(2000)
Evidence in this paper suggests that a close banking relationship--a loan commitment in particular--relaxes cash flow and cash management constraints on firms. Given firms' prospects (Q), the investment and cash flow correlation is substantially lower when firms have a bank loan commitment. The difference in cash flow sensitivity reflects differences in firms' cash management practices in the face of cash flow shocks. Firms with a commitment simply run down their stocks of cash (or borrow more) when their cash flow falls but their investment prospects remain strong. The different ...
Staff Reports
, Paper 108
Journal Article
Asymmetric effects of monetary policy
Morgan, Donald P.
(1993-04)
Economic Review
, Volume 78
, Issue Q II
, Pages 21-33
Report
The Bankruptcy Abuse Prevention and Consumer Protection Act: means-testing or mean spirited?
Dick, Astrid A.; Ashcraft, Adam B.; Morgan, Donald P.
(2007)
Thousands of U.S. households filed for bankruptcy just before the bankruptcy law changed in 2005. That rush-to-file was more pronounced, we find, in states with more generous bankruptcy exemptions and lower credit scores. We take that finding as evidence that the new law effectively reduces exemptions, which in turn should reduce the ?demand? for bankruptcy and the resulting losses to suppliers of consumer credit. We expect the savings to suppliers will be shared with borrowers by way of lower credit card rates, although credit card spreads have not yet fallen. If cheaper credit is the upside ...
Staff Reports
, Paper 279
FILTER BY year
FILTER BY Bank
Federal Reserve Bank of New York 64 items
Federal Reserve Bank of Kansas City 13 items
Federal Reserve Bank of Chicago 6 items
Federal Reserve Bank of Boston 2 items
Board of Governors of the Federal Reserve System (U.S.) 1 items
FILTER BY Series
Liberty Street Economics 31 items
Staff Reports 18 items
Economic Policy Review 10 items
Economic Review 7 items
Proceedings 6 items
Research Working Paper 5 items
Research Paper 3 items
Current Issues in Economics and Finance 2 items
Conference Series ; [Proceedings] 1 items
Current Policy Perspectives 1 items
Finance and Economics Discussion Series 1 items
Financial Letters 1 items
show more (7)
show less
FILTER BY Content Type
Discussion Paper 31 items
Report 22 items
Journal Article 20 items
Conference Paper 7 items
Working Paper 6 items
FILTER BY Author
Narron, James 10 items
McAndrews, James J. 4 items
Arseneau, David M. 3 items
Black, Sandra E. 3 items
Choi, Dong Beom 3 items
Holcomb, Michael R. 3 items
Lown, Cara S. 3 items
Mahar, Molly 3 items
Melzer, Brian T. 3 items
Pinkovskiy, Maxim L. 3 items
Skeie, David R. 3 items
Stiroh, Kevin J. 3 items
Strain, Michael R. 3 items
Van den Heuvel, Skander J. 3 items
Anagnostakos, Peter 2 items
Blickle, Kristian S. 2 items
Botsch, Matthew 2 items
Bram, Jason 2 items
Chan, Benjamin 2 items
Dlugosz, Jennifer L. 2 items
Fillat, Jose 2 items
Fischl-Lanzoni, Natalia 2 items
Hamerling, Sarah Ngo 2 items
Iverson, Benjamin 2 items
Latif, Hasan 2 items
Mahoney, James M. 2 items
Mandel, Benjamin H. 2 items
Morgan, Ladd 2 items
Peristiani, Stavros 2 items
Rime, Bertrand 2 items
Samolyk, Katherine A. 2 items
Santos, Joao A. C. 2 items
Sporn, John 2 items
Strahan, Philip E. 2 items
Suarez, Ivelisse 2 items
Wei, Chenyang 2 items
Yang, Bryan 2 items
Yorulmazer, Tanju 2 items
Ashcraft, Adam B. 1 items
Brunetti, Celso 1 items
Caramichael, John 1 items
Cetorelli, Nicola 1 items
Clampitt, Steph 1 items
Crosignani, Matteo 1 items
DeYoung, Robert 1 items
Dennis, Benjamin 1 items
Dick, Astrid A. 1 items
Edelstein, Paul 1 items
Fillat, José 1 items
Goldberg, Linda S. 1 items
Groshen, Erica L. 1 items
Haughwout, Andrew F. 1 items
Himmelberg, Charles P. 1 items
Hirtle, Beverly 1 items
Jayaratne, Jith 1 items
Kahn, James A. 1 items
Kotta, Gurubala 1 items
Mann, Ronald J. 1 items
Mehran, Hamid 1 items
Mishkin, Frederic S. 1 items
Neubauer, Michael 1 items
Osler, Carol L. 1 items
Pan, Kevin J. 1 items
Perlman, Davy 1 items
Rohatgi, Sonali 1 items
Santos, JoĂŁo A. C. 1 items
Savino, Vanessa 1 items
Shin, Chaehee 1 items
Toll, Ian 1 items
Van der Klaauw, Wilbert 1 items
Vickery, James 1 items
Zer, Ilknur 1 items
show more (68)
show less
FILTER BY Jel Classification
G2 15 items
G21 13 items
G1 7 items
G28 6 items
D1 5 items
E5 4 items
N2 4 items
E3 2 items
E51 2 items
E65 2 items
G18 2 items
G20 2 items
H12 2 items
H81 2 items
Q54 2 items
C23 1 items
D14 1 items
D18 1 items
D1;G2 1 items
D82 1 items
E2 1 items
E43 1 items
E58 1 items
F00 1 items
G01 1 items
G1;N2 1 items
G2;G1 1 items
G38 1 items
G5 1 items
H84 1 items
N1 1 items
N2;E2 1 items
N2;G1 1 items
show more (28)
show less
FILTER BY Keywords
Bank loans 16 items
banks 7 items
Credit 6 items
bank capital 6 items
Monetary policy 5 items
Risk 5 items
Business cycles 4 items
COVID-19 4 items
Main Street Lending Program 4 items
Bank failures 4 items
Credit cards 4 items
climate change 4 items
Bank supervision 3 items
Banking law 3 items
Bankruptcy 3 items
credit demand 3 items
hurricanes 3 items
unbanked 3 items
Consumer credit 3 items
regulatory arbitrage 3 items
Bank assets 2 items
Bank competition 2 items
Bank deposits 2 items
Bank investments 2 items
Bank management 2 items
Banking market 2 items
Bonds 2 items
Business enterprises 2 items
Commercial loans 2 items
Debt 2 items
Deposit insurance 2 items
Federal Reserve 2 items
Federal Reserve lending programs 2 items
Financial institutions 2 items
Foreclosure 2 items
Households - Economic aspects 2 items
Monetary policy - United States 2 items
Puerto Rico 2 items
Saving and investment 2 items
Subprime mortgage 2 items
bail in 2 items
bail-inable debt 2 items
bank runs 2 items
emergency lending facilities 2 items
lenders of last resort 2 items
leverage limits 2 items
securitization 2 items
small businesses 2 items
Overdrafts 2 items
Small business 2 items
2nd bank of U.S. 1 items
Amsterdam 1 items
Bank holding companies 1 items
Bank liquidity 1 items
Bankruptcy reform 1 items
Banks and banking - Service charges 1 items
Basel III regulations 1 items
Branch banks 1 items
Capital market 1 items
Cash flow 1 items
Cash management 1 items
Ch. 13 1 items
Ch. 7 1 items
Commitment Device 1 items
Commitment Problems 1 items
Comprehensive Capital Analysis and Review (CCAR) 1 items
Consumer behavior 1 items
Corporate bonds 1 items
Credit enhancements 1 items
Credit ratings 1 items
Disaster relief 1 items
Economic conditions - New York (N.Y.) 1 items
Emigration and immigration 1 items
Employment 1 items
FEMA 1 items
Federal Reserve District, 2nd 1 items
Federal Reserve System 1 items
Finance, Personal 1 items
Financial Intermediation 1 items
Financial crises 1 items
Financial institutions - Law and legislation 1 items
Financial markets 1 items
Financial stability and risk 1 items
Forecasting 1 items
Hamburg 1 items
Hurricane Maria 1 items
Interest rates 1 items
Interstate banking 1 items
Inventories 1 items
Jay Gould 1 items
Large and complex banks 1 items
Liquidity (Economics) 1 items
Loans, Personal 1 items
Money growth 1 items
Panic of 1819 1 items
Payday lending 1 items
Paydays 1 items
Payment systems 1 items
Predatory lending 1 items
Prices 1 items
Public welfare 1 items
QE1 1 items
QE2 1 items
Reach for Yield 1 items
Recessions 1 items
Risk assessment 1 items
Risk management 1 items
SLOOS 1 items
Savings 1 items
Soft information 1 items
Stocks 1 items
Supply and demand 1 items
TBTF subsidy 1 items
Terrorism 1 items
Theory of the firm 1 items
Too-big-to-fail 1 items
War - Economic aspects 1 items
asymmetric information 1 items
bank examinations 1 items
bank lending 1 items
bank opacity 1 items
bank regulation 1 items
bank resolution 1 items
bank risk 1 items
banking deserts 1 items
banking panics 1 items
black Friday 1 items
bounced checks 1 items
branches 1 items
bunching 1 items
climate 1 items
complex banks 1 items
contraction 1 items
cotton 1 items
credit cycle crisis 1 items
credit standards 1 items
crisis 1 items
crisis of 1816 1 items
dealer banks 1 items
deflation 1 items
deserts 1 items
even study 1 items
exports 1 items
famine 1 items
financial stability 1 items
financial crisis 1 items
financial exclusion 1 items
financial inclusion 1 items
financial stability 1 items
fire sales 1 items
firesales 1 items
fixed exchange rates 1 items
floating exchange rates 1 items
floods 1 items
gold 1 items
gold rush 1 items
gold standard 1 items
harvest 1 items
housing 1 items
inclusion 1 items
internalization 1 items
jekyll island 1 items
king cotton 1 items
large banks 1 items
large-scale asset purchases 1 items
lending standards 1 items
leverage rule 1 items
loan growth 1 items
loan terms 1 items
local knowledge 1 items
messy failures 1 items
minorities. 1 items
moral hazard 1 items
mortgage lending 1 items
overdraft 1 items
panic 1 items
panic of 1825 1 items
panic of 1907 1 items
payday credit 1 items
personal loans 1 items
physical risks 1 items
poverty year 1 items
price ceilings 1 items
pro-cyclical 1 items
railway mania 1 items
reaching for yield 1 items
reform 1 items
resolution 1 items
robber baron 1 items
roll overs 1 items
runnable financial liabilities 1 items
shadow banking 1 items
shadow banks 1 items
storms 1 items
stress tests 1 items
sunspot equilibrium 1 items
targeting 1 items
too big to fail 1 items
uninsured financial liabilities 1 items
unintended consequences 1 items
usury limit 1 items
virus 1 items
wars 1 items
weather 1 items
weather disasters 1 items
wildfires 1 items
winter 1 items
show more (213)
show less