Publication:
Working Paper (Federal Reserve Bank of Cleveland)
1976-2002
Working Papers are preliminary versions of technical papers containing the results and discussions of current research. Written for eventual publication in professional economics journals, these papers offer a draft-by-draft view of our research process over a wide range of economic topics.
- Working Papers (Federal Reserve Bank of Cleveland)
- 1970s
- 1980s
- 1990s
- The Determinants of Commercial Bank Holdings of Municipal Securities : 1985-1988, Working Paper 90-01
- On the Choice of the Exchange-Rate Regimes, Working Paper 90-02
- Failed Delivery and Daily Treasury Bill Returns, Working Paper 90-03
- Cross-Sectional Analysis of Public Infrastructure and Regional Productivity Growth, Working Paper 90-04
- In Defense of Zero Inflation, Working Paper 90-05
- Inflation and the Personal Tax Code : Assessing Indexation, Working Paper 90-06
- Optimal Financial Structure and Bank Capital Requirements : An Empirical Investigation, Working Paper 90-07
- Sticky Prices, Money, and Business Fluctuations, Working Paper 90-08
- Intervention and the Foreign Exchange Risk Premium : An Empirical Investigation of Daily Effects, Working Paper 90-09
- Consumption and Fractional Differencing : Old and New Anomalies, Working Paper 90-10
- Information and Voting Power in the Proxy Process, Working Paper 90-11
- The Effect of Subordinated Debt and Surety Bonds on Banks' Cost of Capital and on the Value of Federal Deposit Insurance, Working Paper 90-12
- What Does the Capital Income Tax Distort?, Working Paper 90-13
- Cointegration and Transformed Series, Working Paper 90-14
- Loan Commitments and Bank Risk Exposure, Working Paper 90-15
- Some Problems of Infinite Regress in Social-Choice Models : A Category Theory Solution, Working Paper 90-16
- An Insider's View of the Political Economy of the Too Big to Fail Doctrine, Working Paper 90-17
- Prointegrative Subsidies and Their Effect on Housing Markets : Do Race- Based Loans Work?, Working Paper 90-18
- Tastes and Technology in a Two-Country Model of the Business Cycle : Explaining International Co-Movements, Working Paper 90-19
- Risk-Based Capital and Deposit Insurance Reform, Working Paper 91-01
- Inflation, Personal Taxes, and Real Output : A Dynamic Analysis, Working Paper 91-02
- Generational Accounts : A Meaningful Alternative to Deficit Accounting, Working Paper 91-03
- On the Valuation of Deposit Institutions, Working Paper 91-04
- Magnification Effects and Acyclical Real Wages, Working Paper 91-05
- Principal-Agent Problems in Commercial-Bank Failure Decisions, Working Paper 91-06
- Generational Accounting : A New Approach for Understanding the Effects of Fiscal Policy on Saving, Working Paper 91-07
- Bracket Creep in the Age of Indexing : Have We Solved the Problem?, Working Paper 91-08
- The Risk Premium in Forward Foreign Exchange Markets and G-3 Central Bank Intervention : Evidence of Daily Effects, 1985-1990, Working Paper 91-09
- On Flexibility, Capital Structure, and Investment Decisions for the Insured Bank, Working Paper 91-10
- Optimal Bank Portfolio Choice Under Fixed-Rate Deposit Insurance, Working Paper 91-11
- Troubled Savings and Loan Institutions : Voluntary Restructuring Under Insolvency, Working Paper 91-12
- Zero Inflation : Transition Costs and Shoe-Leather Benefits, Working Paper 91-13
- Local Banking Markets and Firm Location, Working Paper 91-14
- On the Econometrics of World Business Cycles, Working Paper 91-15
- The Sources and Nature of Long-Term Memory in the Business Cycle, Working Paper 91-16
- Inefficiency and Productivity Growth in Banking : A Comparison of Stochastic Econometric and Thick Frontier Methods, Working Paper 91-17
- Risk Aversion, Performance Pay, and the Principal-Agent Problem, Working Paper 91-18
- Estimating a Firm's Age-Productivity Profile Using the Present Value of Workers' Earnings, Working Paper 91-19
- A Dynamic Analysis of Recent Changes in the Rate of Part-Time Employment, Working Paper 91-20
- Rising Inequality in a Salary Survey : Another Piece of the Puzzle, Working Paper 91-21
- A Different Kind of Money Illusion : The Case of Long and Variable Lags, Working Paper 91-22
- Binomial Approximation in Financial Models : Computational Simplicity and Convergence, Working Paper 92-01
- Wagner's Hypothesis : A Local Perspective, Working Paper 92-02
- Post-Louvre Intervention : Did Target Zones Stabilize the Dollar?, Working Paper 92-03
- Bank Performance and Regional Economic Growth : Evidence of a Regional Credit Channel, Working Paper 92-04
- The Gold Standard as a Rule, Working Paper 92-05
- Social Security and Medicare Policy From the Perspective of Generational Accounting, Working Paper 92-06
- New Results on the Impact of Central-Bank Intervention on Deviations From Uncovered Interest Parity, Working Paper 92-07
- Generational Accounting : The Case of Italy, Working Paper 92-08
- Capital Forbearance and Thrifts : An Ex Post Examination of Regulatory Gambling, Working Paper 92-09
- Debt, Collateral, and U.S. Manufacturing Investment : 1954-1980, Working Paper 92-10
- Dynamics of the Trade Balance and the Terms of Trade : The S-Curve, Working Paper 92-11
- The Efficiency and Welfare Effects of Tax Reform : Are Fewer Tax Brackets Better Than More?, Working Paper 92-12
- Relative Price Movements in Dynamic General Equilibrium Models of International Trade, Working Paper 92-13
- On Markovian Representations of the Term Structure, Working Paper 92-14
- Do Hostile Takeovers Reduce Extramarginal Wage Payments?, Working Paper 92-15
- U.S. Air Passenger Service : A Taxonomy of Route Networks, Hub Locations, and Competition, Working Paper 92-16
- Commitment as Irreversible Investment, Working Paper 92-17
- The Determinants of Airport Hub Locations, Service, and Competition, Working Paper 92-18
- Cross-Lender Variation in Home Mortgage Lending, Working Paper 92-19
- Sharing with a Risk-Neutral Agent, Working Paper 93-01
- HRM Policy and Increasing Inequality in a Salary Survey, Working Paper 93-02
- Regulatory Taxes, Investment, and Financing Decision for Insured Banks, Working Paper 93-03
- Monitoring Core Inflation, Working Paper 93-04
- Generational Accounting in Norway : Is the Nation Overconsuming Its Petroleum Wealth?, Working Paper 93-05
- The Evolving Legal Framework for Financial Services, Working Paper 93-06
- Loan Sales, Implicit Contracts, and Bank Structure, Working Paper 93-07
- Dynamic Optimal Fiscal and Monetary Policy in a Business Cycle Model with Income Redistribution, Working Paper 93-08
- Lender Consistency in Housing Credit Markets, Working Paper 93-09
- Accounting for Racial Differences in Housing Credit Markets, Working Paper 93-10
- The Equity of Social Services Provided to Children and Senior Citizens, Working Paper 93-11
- Business Cycles and Aggregate Labor-Market Fluctuations, Working Paper 93-12
- Loan Sales as a Response to Market-Based Capital Constraints, Working Paper 93-13
- Accounting for Earnings Inequality in a Diverse Work Force, Working Paper 93-14
- Exclusion in All-Pay Auctions, Working Paper 94-01
- Auctions with Budget-Constrained Buyers : A Nonequivalence Result, Working Paper 94-02
- Underlying Determinants of Closed-Bank Resolution Costs, Working Paper 94-03
- Depositor Preference and the Cost of Capital for Insured Depository Institutions, Working Paper 94-04
- The Federal Reserve Board before Marriner Eccles (1931-1934), Working Paper 94-05
- Optimal Fiscal Policy When Public Capital Is Productive : A Business- Cycle Perspective, Working Paper 94-06
- Anticipating Bailouts : The Incentive-Conflict Model and the Collapse of the Ohio Deposit Guarantee Fund, Working Paper 94-07
- The Impact of AFDC on Birth Decisions and Program Participation, Working Paper 94-08
- The Welfare Effects of Tax Simplification : A General-Equilibrium Analysis, Working Paper 94-09
- Tax Structure, Welfare, and the Stability of Equilibrium in a Model of Dynamic Optimal Fiscal Policy, Working Paper 94-10
- Similarities and Dissimilarities in the Collapses of Three State- Chartered Private Deposit Insurance Funds, Working Paper 94-11
- The Burden of German Unification : A Generational Accounting Approach, Working Paper 94-12
- The Annuitization of Americans' Resources : A Cohort Analysis, Working Paper 94-13
- Loan Sales : Pacific Rim Trade in Nontradable Assets, Working Paper 94-14
- Bankruptcy Rules and Debt Contracting : On the Relative Efficiency of Absolute Priority, Proportionate Priority, and First-Come, First-Served Rules, Working Paper 94-15
- Executive Compensation : A Calibration Approach, Working Paper 94-16
- Bank Diversification : Laws and Fallacies of Large Numbers, Working Paper 94-17
- The Effects of Inflation on Wage Adjustments in Firm-Level Data : Grease or Sand?, Working Paper 94-18
- Posted Rates as Signals in Mortgage Lending Markets, Working Paper 94-19
- The Computational Experiment : An Econometric Tool, Working Paper 94-20
- Underserved Mortgage Markets : Evidence From HMDA Data, Working Paper 94-21
- More on the Differences Between Reported and Actual U.S. Central Bank Foreign Exchange Intervention, Working Paper 95-01
- The Changing Role of Banks and the Changing Value of Deposit Guarantees, Working Paper 95-02
- Computable General-Equilibrium Models and Monetary Policy Advice, Working Paper 95-03
- Interest Rate Rules Vs. Money Growth Rules : A Welfare Comparison in a Cash-In-Advance Economy, Working Paper 95-04
- Debt and Equity as Optimal Contracts, Working Paper 95-05
- Imperfect State Verification and Financial Contracting, Working Paper 95-06
- Optimal Fiscal Policy When Public Capital Is Productive : A Business Cycle Perspective, Working Paper 95-07
- Marginal Tax Rates and Income Inequality : A Quantitative-Theoretic Analysis, Working Paper 95-08
- Optimal Fiscal Policy, Public Capital, and the Productivity Slowdown, Working Paper 95-09
- Optimal Taxation of Capital Income in a Growth Model with Monopoly Profits, Working Paper 95-10
- Voting on Social Security : Evidence From OECD Countries, Working Paper 95-11
- The Role of Warrants in Corporate Reorganizations, Working Paper 95-12
- A Note on Absolute Priority Rule Violations, Credit Rationing, and Efficiency, Working Paper 95-13
- Defining the Monetary Base in a Deregulated Financial System, Working Paper 95-14
- Bank Capital and Equity Investment Regulations, Working Paper 95-15
- Fertility and Welfare Participation, Working Paper 95-16
- Some Monte Carlo Results on Nonparametric Changepoint Tests, Working Paper 95-17
- Understanding the Postwar Decline in United States Saving : A Cohort Analysis, Working Paper 95-18
- Does Means-Testing Welfare Discourage Saving? Evidence From the National Longitudinal Survey of Women, Working Paper 95-19
- Sectoral Wage Convergence : A Nonparametric Distributional Analysis, Working Paper 95-20
- Dynamic Commitment and Imperfect Policy Rules, Working Paper 96-01
- Agency Costs, Net Worth, and Business Fluctuations : A Computable General Equilibrium Analysis, Working Paper 96-02
- Demographic Change, Generational Accounts, and National Saving in the United States, Working Paper 96-03
- Bank Deposit Rate Clustering : Theory and Empirical Evidence, Working Paper 96-04
- Endogenous Money Supply and the Business Cycle, Working Paper 96-05
- Commitment as Investment Under Uncertainty, Working Paper 96-06
- Macro- and Microeconomic Consequences of Wage Rigidity, Working Paper 96-07
- U.S. Intervention : Assessing the Probability of Success, Working Paper 96-08
- On the Political Economy of Income Redistribution and Crime, Working Paper 96-09
- Commercial Banks in the Securities Business : A Review, Working Paper 96-10
- Sectoral Wage Convergence : A Nonparametric Distributional Analysis, Working Paper 96-11
- Rounding in Earnings Data, Working Paper 96-12
- Work Schedules, Wages, and Employment in a General Equilibrium Model With Team Production, Working Paper 96-13
- Welfare, Stabilization, or Growth : A Comparison of Different Fiscal Objectives, Working Paper 96-14
- Growth Effects of a Flat Tax, Working Paper 96-15
- Monitored Finance, Liquidity, and Institutional Investment Choice, Working Paper 96-16
- Inflation and Financial Market Performance, Working Paper 96-17
- Consequences of Means Testing Social Security : Evidence From the SSI Program, Working Paper 96-18
- Performance and Asset Management Effects of Bank Acquisitions, Working Paper 96-19
- Neighborhood Information and Home Mortgage Lending., Working Paper 96-20
- Marginal Tax Rates and Income Inequality in a Life-cycle Model, Working Paper 96-21
- Estimating the Cost of U.S. Indexed Bonds, Working Paper 97-01
- Credit Rationing, Bankruptcy Cost, and the Optimal Debt Contract for Small Business, Working Paper 97-02
- Social Security Privatization : A Simple Proposal, Working Paper 97-03
- Securities Activities in Banking Conglomerates : Should Their Location Be Regulated?, Working Paper 97-04
- Identifying Inflations Grease and Sand Effects in the Labor Market, Working Paper 97-05
- Trust and Investment Corporations in China, Working Paper 97-06
- Efficient Inflation Estimation, Working Paper 97-07
- Indeterminacy and Stabilization Policy, Working Paper 97-08
- A Note on Purifying Mixed Strategy Equilibria in the Search Model of Money, Working Paper 97-09
- Absolute Priority Rule Violations, Credit Rationing, and Efficiency, Working Paper 97-10
- Algorithms for Solving Dynamic Models With Occasionally Binding Constraints, Working Paper 97-11
- Simulating U.S. Tax Reform, Working Paper 97-12
- Expectations, Credibility, and Disinflation in a Small Macroeconomic Model, Working Paper 97-13
- Interest Rate Option Pricing With Volatility Humps, Working Paper 97-14
- Depositor Preference Legislation and Failed Banks' Resolution Costs, Working Paper 97-15
- Electronic Money, Working Paper 97-16
- Reducing Working Hours : A General Equilibrium Analysis, Working Paper 98-01
- Appointing the Median Voter of a Policy Board, Working Paper 98-02
- Large Shareholders and Market Discipline in a Regulated Industry : A Clinical Study of Mellon Bank, Working Paper 98-03
- Solving Dynamic Equilibrium Models by a Method of Undetermined Coefficients, Working Paper 98-04
- The FDICIA and Bank CEOs Pay-Performance Relationship : An Empirical Investigation, Working Paper 98-05
- Measuring the Rate of Technological Progress in Structures, Working Paper 98-06
- Money and Dynamic Arrangements with Private Information, Working Paper 98-07
- The Importance of Bank Seniority for Relationship Lending, Working Paper 98-08
- Self-Selection and Discrimination in Credit Markets, Working Paper 98-09
- Optimal Employment of Scale Economies in the Federal Reserve's Currency Infrastructure, Working Paper 98-10
- Simulating the Transmission of Wealth Inequality via Bequests, Working Paper 98-11
- Expectations, Credibility, and Time-Consistent Monetary Policy, Working Paper 98-12
- Monetary Aggregates and Output, Working Paper 98-13
- Earnings and Wealth Inequality and Income Taxation : Quantifying the Trade-Offs of Switching to a Proportional Income Tax in the U.S., Working Paper 98-14
- The Federal Reserve as an Informed Foreign-Exchange Trader, Working Paper 98-15
- Evolutionary Programming as a Solution Technique for the Bellman Equation, Working Paper 98-16
- Non-Par Banking : Competition and Monopoly in Markets for Payments Services, Working Paper 98-17
- Real Indeterminacy in Monetary Models with Nominal Interest Rate Distortions : The Problem with Inflation Targets, Working Paper 98-18
- Real Indeterminacy in Monetary Models with Nominal Interest Rate Distortions : The Problem with Inflation Targets, Working Paper 98-18R
- Price-Level and Interest-Rate Targeting in a Model with Sticky Prices, Working Paper 98-19
- Will Electronic Money be Adopted in the United States?, Working Paper 98-20
- Private Money Creation and the Suffolk Banking System, Working Paper 98-21
- Sources of Business Cycles in Korea and the United States, Working Paper 98-22
- Maximum Likelihood in the Frequency Domain : A Time to Build Example, Working Paper 99-01
- Taylor Rules in a Limited Participation Model, Working Paper 99-02
- A Method for Taking Models to the Data, Working Paper 99-03
- More on Marriage, Fertility, and the Distribution of Income, Working Paper 99-04
- Monetary Policy Regimes and Beliefs, Working Paper 99-05
- Monetary Policy Regimes and Beliefs, Working Paper 99-05R
- The Band Pass Filter, Working Paper 99-06
- Banking and Commerce : A Liquidity Approach, Working Paper 99-07
- Firms' Wage Adjustments : A Break from the Past?, Working Paper 99-08
- Protection for Whom? Creditor Conflicts in Bankruptcy, Working Paper 99-09
- Timing and Real Indeterminacy in Monetary Models, Working Paper 99-10
- Optimal Monetary Policy in a Small Open Economy : A General Equilibrium Analysis, Working Paper 99-11
- Social Security's Treatment of Postwar Americans : How Bad Can It Get?, Working Paper 99-12
- The Impact of Social Security and Other Factors on the Distribution of Wealth, Working Paper 99-13
- The Adequacy of Life Insurance Evidence from the Health and Retirement Survey, Working Paper 99-14
- Risk Sharing of Disaggregate Macroeconomic and Idiosyncratic Shocks, Working Paper 99-15
- Currency Portfolios and Nominal Exchange Rates in a Dual Currency Search Economy, Working Paper 99-16
- Results of a Study of the Stability of Cointegrating Relations Comprised of Broad Monetary Aggregates, Working Paper 99-17
- Intervention as Information : A Survey, Working Paper 99-18
- The Effects of Minimum Wages Throughout the Wage Distribution, Working Paper 99-19
- Central Bank Intervention and Overnight Uncovered Interest Rate Parity, Working Paper 98-23
- 2000s
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Current working papers available from https://www.clevelandfed.org/publications/working-paper
1976-2002
Federal Reserve Bank of Cleveland
Federal Reserve Bank of Cleveland
- lcc: HC101.W67
- oclc: 9302688
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