2014 Working Papers – Archived

A Probability-Based Stress Test of Federal Reserve Assets and Income
Jens H. E. Christensen, Jose A. Lopez and Glenn D. Rudebusch, December 2013

Bank Capital for Operational Risk: A Tale of Fragility and Instability
Mark Ames, Til Schuermann and Hal S. Scott, February 10, 2014
An updated version of this paper dated February 2015 is available here.

Why Do Banks Practice Regulatory Arbitrage? Evidence from Usage of Trust Preferred Securities
Nicole M. Boyson, Rüdiger Fahlenbrach and René M. Stulz, March 2014

Fairness and Reflexivity in the Cyprus Bail-in
Stavros A. Zenios, March 2014

Interest Rate Risk and Bank Equity Valuations
William B. English, Skander J. Van den Heuvel and Egon Zakrajsek, April 2014

The Federal Reserve’s Discount Window and TAF Programs: “Pushing on a String?”
Allen N. Berger, Lamont K. Black, Christa H.S. Bouwman and Jennifer Dlugosz, April 2014

Bank Risk Taking and Liquidity Creation Following Regulatory Interventions and Capital Support
Allen N. Berger, Christa H.S. Bouwman, Thomas Kick and Klaus Schaeck, April 2014

Deposits and Bank Capital Structure
Franklin Allen, Elena Carletti and Robert Marquez, May 2014
This is an updated version of Working Paper #13-13

Governance, Risk Management, and Risk-Taking in Banks
René M. Stulz, June 2014

Risk management optimization for sovereign debt restructuring
Andrea Consiglio, Stavros A. Zenios, August 2014 UPDATED MARCH 2015

Self-reporting under SEC Reg AB and Transparency in Securitization: Evidence from loan-level disclosure of risk factors in RMBS deals
Joseph R. Mason, Michael B. Imerman and Hong Lee, June 2014

Bank Ownership Structure, SME Lending and Local Credit Markets
Iftekhar Hasan, Krzysztof Jackowicz, Oskar Kowalewski and Łukasz Kozłowski, August 2014

Credit Access After Consumer Bankruptcy Filing: New Evidence
Julapa Jagtiani and Wenli Li, August 2014

Risk profiles for re-profiling the sovereign debt of crisis countries
Andrea Consiglio, Stavros A. Zenios, August 2014

Issuing bonds, shares or staying private? Determinants of going public in an emerging economy
Krzysztof Jackowicz, Oskar Kowalewski, Łukasz Kozłowski and Paulina Roszkowska, September 2014

Banks and the World’s Major Banking Centers, 2010
Sang Rim Choi, Daekeun Park and Adrian E. Tschoegl, October 2014

The Evolution of U.S. Community Banks and Its Impact on Small Business Lending
Julapa Jagtiani, Ian Kotliar and Raman Quinn Maingi, October 2014

Interim Fund Performance and Fundraising in Private Equity
Brad M. Barber, Ayako Yasuda, October 2014

Law and structure of the capital markets
Xian Gu and Oskar Kowalewski

FED Liquidity Policy during the Financial Crisis: Playing For Time
Robert Eisenbeis and Richard Herring