Conference Record of The Twenty-Ninth Asilomar Conference on Signals, Systems and Computers
Motivated by the log-normal model for price processes in continuous time, we suppose, in discrete... more Motivated by the log-normal model for price processes in continuous time, we suppose, in discrete time, the logarithmic difference of the price process is given by the sum of a drift and a `volatility' component. Filtering techniques from hidden Markov models are applied to estimate these parameters
The Journal of Financial Stability provides an international forum for rigorous theoretical and e... more The Journal of Financial Stability provides an international forum for rigorous theoretical and empirical macro and micro economic and financial analysis of the causes, management, resolution and preventions of financial crises, including banking, securities market, payments and currency crises. The primary focus is on applied research that would be useful in affecting public policy with respect to financial stability. Thus, the Journal seeks to promote interaction among researchers, policy-makers and practitioners to identify potential risks to financial stability and develop means for preventing, mitigating or managing these risks both within and across countries.
The Journal of Financial Stability provides an international forum for rigorous theoretical and e... more The Journal of Financial Stability provides an international forum for rigorous theoretical and empirical macro and micro economic and financial analysis of the causes, management, resolution and preventions of financial crises, including banking, securities market, payments and currency crises. The primary focus is on applied research that would be useful in affecting public policy with respect to financial stability. Thus, the Journal seeks to promote interaction among researchers, policy-makers and practitioners to identify potential risks to financial stability and develop means for preventing, mitigating or managing these risks both within and across countries.
Distributors for North, Central and South America: Kluwer Academic Publishers 101 Philip Drive As... more Distributors for North, Central and South America: Kluwer Academic Publishers 101 Philip Drive Assinippi Park Norwell, Massachusetts 02061 USA Telephone (781)871-6600 Fax (781) 681-9045 E-Mail <kluwer@wkap.com> Distributors for all other countries: Kluwer ...
Editors' Note. Introduction. Detecting Discrimination in Mortgage Lending: Using HMDA Data as... more Editors' Note. Introduction. Detecting Discrimination in Mortgage Lending: Using HMDA Data as a Regulatory Screen for Fair Lending Compliance R.B. Avery, et al. Mortgage Lending, Race, and Model Specification D.K. Horne. Strategic Responses to Bank Regulation: Evidence from HMDA Data D.D. Evanoff, L.M. Segal. Issues in Redlining, Underwriting, and Pricing: Mortgage Loans to Nonoccupants as an Indicator of Racial Redlining A. Holmes, et al. A Reconsideration of Discrimination in Mortgage Underwriting with Data from a national Mortgage Bank E. Rosenblatt. Discrimination Resulting from Overage Practices M. Courchane, D. Nickerson. Models of Discrimination in Credit Markets: Cultural Affinity and Lending Discrimination: The Impact of Underwriting Errors and Credit Risk Distribution on Applicant Denial Rates M.F. Ferguson, S.R. Peters. The Economics of Low-Income Mortgage Lending D. Malmquist, et al. Do Black-Owned Banks Discriminate Against Black Borrowers? H.A. Black, et al. Discri...
1. Monetary collapse during the great depression: Did the stock of money fall, or was it pushed? ... more 1. Monetary collapse during the great depression: Did the stock of money fall, or was it pushed? (P. Evans). 2. Information and International Spread of Banking Panics (V. Vaughan). 3. Bank failures in banking panics: Risky banks or road kill? (G.P. Dwyer Jr., R.W. Hafer). 4. Ownership structure, operating inefficiency and regulatory reform: An analysis of U.S. thrifts (F. Cebenoyan, A.S. Cebenoyan, E.S. Cooperman, C.A. Register). 5. Management of earnings: Evidence from the Indian banks (A. Anandarajan, D. Hossain). 6. Loan repayment in the Grameen Bank: The importance of gender and opportunity cost (F. Ameen). 7. Bancassurance and the future of banking (M. Nurullah). 8. State of informational efficiency of the South African equity market during the Apartheid, transition and the Post-Apartheid periods (T. Hasan, W. Karim). 9. Bank mergers in South Korea: Does government intervention add value? (S. Choi, J.P. Murtagh). 10. Stock market and economic forces during liberalization: Korea...
... Page 14. Page 15. Acknowledgments The conference was organized and coordinated by William C. ... more ... Page 14. Page 15. Acknowledgments The conference was organized and coordinated by William C. Hunter, George Kaufman, and Vance Lancaster of the Federal Reserve Bank of Chicago, and Thomas Krueger of the International Monetary Fund. ...
... Deehan, John Dixon, Lana Henderson, Helen O'D. Koshy, Hala Leddy, Michael Mc... more ... Deehan, John Dixon, Lana Henderson, Helen O'D. Koshy, Hala Leddy, Michael McConnaughay, Rita Molloy, Yvonne Peeples, Elizabeth Taylor, Barbara Van Brussell, and Kristine Wolstenholme, who helped in the preparation of the conference and the proceedings volume. ...
ABSTRACT The objective of this paper is to examine the empirical link between banking and financi... more ABSTRACT The objective of this paper is to examine the empirical link between banking and financial system structure and economic growth, by constructing a cross-country regression model using data over the 1970-1988 period, for a diverse set of countries. This paper extends the existing literature by explicitly examining the impact of measures of a country's financial deepness, in terms of second stage financial innovations, on a country's rate of economic growth. The cross-country econometric results suggest that financial development (e.g., as measured by the presence of an organized financial futures market - a second stage innovation) is positively correlated with enhanced economic growth. Sensitivity analysis of the model indicates that the empirical findings are invariant to the inclusion of other variables often cited as determinants of economic growth.
Page 1. The Implications for Monetary, Regulatory, and International Policies edited by William C... more Page 1. The Implications for Monetary, Regulatory, and International Policies edited by William C. Hunter, George G. Kaufman, and Michael Pomerleano Page 2. Page 3. Page 4. Page 5. Asset Price Bubbles: The Implications for ...
Conference Record of The Twenty-Ninth Asilomar Conference on Signals, Systems and Computers
Motivated by the log-normal model for price processes in continuous time, we suppose, in discrete... more Motivated by the log-normal model for price processes in continuous time, we suppose, in discrete time, the logarithmic difference of the price process is given by the sum of a drift and a `volatility' component. Filtering techniques from hidden Markov models are applied to estimate these parameters
The Journal of Financial Stability provides an international forum for rigorous theoretical and e... more The Journal of Financial Stability provides an international forum for rigorous theoretical and empirical macro and micro economic and financial analysis of the causes, management, resolution and preventions of financial crises, including banking, securities market, payments and currency crises. The primary focus is on applied research that would be useful in affecting public policy with respect to financial stability. Thus, the Journal seeks to promote interaction among researchers, policy-makers and practitioners to identify potential risks to financial stability and develop means for preventing, mitigating or managing these risks both within and across countries.
The Journal of Financial Stability provides an international forum for rigorous theoretical and e... more The Journal of Financial Stability provides an international forum for rigorous theoretical and empirical macro and micro economic and financial analysis of the causes, management, resolution and preventions of financial crises, including banking, securities market, payments and currency crises. The primary focus is on applied research that would be useful in affecting public policy with respect to financial stability. Thus, the Journal seeks to promote interaction among researchers, policy-makers and practitioners to identify potential risks to financial stability and develop means for preventing, mitigating or managing these risks both within and across countries.
Distributors for North, Central and South America: Kluwer Academic Publishers 101 Philip Drive As... more Distributors for North, Central and South America: Kluwer Academic Publishers 101 Philip Drive Assinippi Park Norwell, Massachusetts 02061 USA Telephone (781)871-6600 Fax (781) 681-9045 E-Mail <kluwer@wkap.com> Distributors for all other countries: Kluwer ...
Editors' Note. Introduction. Detecting Discrimination in Mortgage Lending: Using HMDA Data as... more Editors' Note. Introduction. Detecting Discrimination in Mortgage Lending: Using HMDA Data as a Regulatory Screen for Fair Lending Compliance R.B. Avery, et al. Mortgage Lending, Race, and Model Specification D.K. Horne. Strategic Responses to Bank Regulation: Evidence from HMDA Data D.D. Evanoff, L.M. Segal. Issues in Redlining, Underwriting, and Pricing: Mortgage Loans to Nonoccupants as an Indicator of Racial Redlining A. Holmes, et al. A Reconsideration of Discrimination in Mortgage Underwriting with Data from a national Mortgage Bank E. Rosenblatt. Discrimination Resulting from Overage Practices M. Courchane, D. Nickerson. Models of Discrimination in Credit Markets: Cultural Affinity and Lending Discrimination: The Impact of Underwriting Errors and Credit Risk Distribution on Applicant Denial Rates M.F. Ferguson, S.R. Peters. The Economics of Low-Income Mortgage Lending D. Malmquist, et al. Do Black-Owned Banks Discriminate Against Black Borrowers? H.A. Black, et al. Discri...
1. Monetary collapse during the great depression: Did the stock of money fall, or was it pushed? ... more 1. Monetary collapse during the great depression: Did the stock of money fall, or was it pushed? (P. Evans). 2. Information and International Spread of Banking Panics (V. Vaughan). 3. Bank failures in banking panics: Risky banks or road kill? (G.P. Dwyer Jr., R.W. Hafer). 4. Ownership structure, operating inefficiency and regulatory reform: An analysis of U.S. thrifts (F. Cebenoyan, A.S. Cebenoyan, E.S. Cooperman, C.A. Register). 5. Management of earnings: Evidence from the Indian banks (A. Anandarajan, D. Hossain). 6. Loan repayment in the Grameen Bank: The importance of gender and opportunity cost (F. Ameen). 7. Bancassurance and the future of banking (M. Nurullah). 8. State of informational efficiency of the South African equity market during the Apartheid, transition and the Post-Apartheid periods (T. Hasan, W. Karim). 9. Bank mergers in South Korea: Does government intervention add value? (S. Choi, J.P. Murtagh). 10. Stock market and economic forces during liberalization: Korea...
... Page 14. Page 15. Acknowledgments The conference was organized and coordinated by William C. ... more ... Page 14. Page 15. Acknowledgments The conference was organized and coordinated by William C. Hunter, George Kaufman, and Vance Lancaster of the Federal Reserve Bank of Chicago, and Thomas Krueger of the International Monetary Fund. ...
... Deehan, John Dixon, Lana Henderson, Helen O'D. Koshy, Hala Leddy, Michael Mc... more ... Deehan, John Dixon, Lana Henderson, Helen O'D. Koshy, Hala Leddy, Michael McConnaughay, Rita Molloy, Yvonne Peeples, Elizabeth Taylor, Barbara Van Brussell, and Kristine Wolstenholme, who helped in the preparation of the conference and the proceedings volume. ...
ABSTRACT The objective of this paper is to examine the empirical link between banking and financi... more ABSTRACT The objective of this paper is to examine the empirical link between banking and financial system structure and economic growth, by constructing a cross-country regression model using data over the 1970-1988 period, for a diverse set of countries. This paper extends the existing literature by explicitly examining the impact of measures of a country's financial deepness, in terms of second stage financial innovations, on a country's rate of economic growth. The cross-country econometric results suggest that financial development (e.g., as measured by the presence of an organized financial futures market - a second stage innovation) is positively correlated with enhanced economic growth. Sensitivity analysis of the model indicates that the empirical findings are invariant to the inclusion of other variables often cited as determinants of economic growth.
Page 1. The Implications for Monetary, Regulatory, and International Policies edited by William C... more Page 1. The Implications for Monetary, Regulatory, and International Policies edited by William C. Hunter, George G. Kaufman, and Michael Pomerleano Page 2. Page 3. Page 4. Page 5. Asset Price Bubbles: The Implications for ...
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