Search Results
Journal Article
Path to U.S. economic recovery difficult to determine
Working Paper
Evaluating Wall Street Journal survey forecasters: a multivariate approach
This paper proposes a methodology for assessing the joint performance of multivariate forecasts of economic variables. The methodology is illustrated by comparing the rankings of forecasters by the Wall Street Journal with the authors? alternative rankings. The results show that the methodology can provide useful insights as to the certainty of forecasts as well as the extent to which various forecasts are similar or different.
Discussion Paper
Problems in applying discriminant analysis in credit scoring models
Conference Paper
Capital regulation section: comments
Working Paper
An analysis of inefficiencies in banking: a stochastic cost frontier approach
This paper examines the properties of X-inefficiencies in U.S. banking firms. We find that, after controlling for scale differences, the average small size banking firm is less efficient than the aerate large firm. Smaller firms also exhibit higher variation in X-inefficiencies than their larger counterparts. X-inefficiency on average appears to be declining over time. However, the rank ordering of X-inefficiency is significantly correlated with smaller banking firms' stock returns. ; Published in FRBSF Economic Review (1996 no. 2, p. 16-26)
Working Paper
The major supervisory initiatives post-FDICIA: Are they based on the goals of PCA? Should they be?
The prompt corrective action provisions in FDICIA 1991 provide the supervisors with an unambiguous goal: "to resolve the problems of insured depository institutions at the least possible long-term cost to the deposit insurance fund." Yet performance of the regulators in achieving this goal has been lacking in that substantial losses continue to be imposed on the insurance funds when banks fail. Is PCA misguided, or are there incentive defects in the law and how the requirements are being administered? This paper analyzes these issues in the context of recent proposals to reform the deposit ...
Conference Paper
Regulatory policies and financial stability