Detail Banks and the regulatory environment: Essays on the relationship between risk and firm behavior Bibliografi Author: Brooks, Bryant Lee ; Cowen, Tyler (Advisor) Topik: ECONOMICS; GENERAL|ECONOMICS; FINANCE|BUSINESS ADMINISTRATION; BANKING Bahasa: (EN )    ISBN: 0-599-67081-9     Penerbit: GEORGE MASON UNIVERSITY     Tahun Terbit: 2000     Jenis: Theses - Dissertation Fulltext: 9962988.pdf (0.0B; 3 download) Abstract This collection of essays highlights the symbiotic relationship between the banking industry and regulatory policies. The first essay shows that a bank's monetary policy preferences of banks depend upon the microeconomic structure of the bank. This finding is in contrast to previous research that asserts that banks have a general preference for interest rate smoothing. In addition, the essay presents simulation evidence, where a bank has increasing marginal cost of issuing loans, that confirms that banks receive higher expected profits under reserve targeting. Building upon the first essay, the second essay finds empirical evidence that banks prefer reserve targeting to interest rate smoothing by re-examining the relationship between policy directives issued by the commercial bank dominated Federal Advisory Council to the Federal Open Market Committee and U.S. fed funds interest rate movements. The evidence presented herein suggest that stability in the growth rate of reserves, rather than stable fed fund rates, appears to drive FAC recommendations. The third essay investigates whether the Banking Act of 1933 had the net effect of increasing the susceptibility of bank equity to interest rate shocks by analyzing data on bank stock returns before and after the Act's implementation. Bank returns show an increased sensitivity to unexpected interest rate changes after 1934, implying that the Act increased the susceptibility of the banking industry to interest rate shocks. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Lihat Sejarah Pengadaan  Konversi Metadata   Kembali

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