Edward S. Prescott

Federal Reserve Banks - Federal Reserve Bank of Cleveland

SCHOLARLY PAPERS

39

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33

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129

Scholarly Papers (39)

1.

Bank Capital Regulation with and Without State-Contingent Penalties

FRB Chicago Working Paper No. 2000-10
Number of pages: 51 Posted: 08 Nov 2000
David A. Marshall and Edward S. Prescott
Federal Reserve Bank of Chicago and Federal Reserve Banks - Federal Reserve Bank of Cleveland
Downloads 281 (112,426)
Citation 9

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2.

A Primer on Moral-Hazard Models

FRB Richmond Economic Quarterly, vol. 85, no. 1, Winter 1999, pp. 47-77
Number of pages: 31 Posted: 26 Nov 2012
Edward S. Prescott
Federal Reserve Banks - Federal Reserve Bank of Cleveland
Downloads 172 (180,598)

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Market-Based Regulation and the Informational Content of Prices

Number of pages: 52 Posted: 17 Dec 2006
Philip Bond, Itay Goldstein and Edward S. Prescott
University of Washington - Michael G. Foster School of Business, University of Pennsylvania - The Wharton School - Finance Department and Federal Reserve Banks - Federal Reserve Bank of Cleveland
Downloads 149 (204,395)
Citation 1

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Market-based regulation, Market-based intervention, Price informativeness, Bank supervision

Market-Based Regulation and the Informational Content of Prices

FRB Richmond Working Paper No. 06-12
Number of pages: 54 Posted: 07 Dec 2012
Philip Bond, Itay Goldstein and Edward S. Prescott
University of Washington - Michael G. Foster School of Business, University of Pennsylvania - The Wharton School - Finance Department and Federal Reserve Banks - Federal Reserve Bank of Cleveland
Downloads 17 (579,987)
Citation 1

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rational expectations, regulation, market discipline

4.

Can Risk-Based Deposit Insurance Premiums Control Moral Hazard?

FRB Richmond Economic Quarterly, vol. 88, no. 2, Spring 2002, pp. 87-100
Number of pages: 14 Posted: 02 Dec 2012
Edward S. Prescott
Federal Reserve Banks - Federal Reserve Bank of Cleveland
Downloads 141 (213,398)
Citation 1

Abstract:

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5.

Changes in the Size Distribution of U. S. Banks: 1960-2005

FRB Richmond Economic Quarterly, vol. 92, no. 4, Fall 2006, pp. 291-316
Number of pages: 26 Posted: 08 Dec 2012
Hubert Janicki and Edward S. Prescott
U.S. Census Bureau and Federal Reserve Banks - Federal Reserve Bank of Cleveland
Downloads 127 (231,747)
Citation 5

Abstract:

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6.

Auditing and Bank Capital Regulation

FRB Richmond Economic Quarterly, vol. 90, no. 4, Fall 2004, pp. 47-63
Number of pages: 17 Posted: 05 Dec 2012
Edward S. Prescott
Federal Reserve Banks - Federal Reserve Bank of Cleveland
Downloads 123 (237,382)

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7.

Did the Financial Reforms of the Early 1990s Fail? A Comparison of Bank Failures and FDIC Losses in the 1986-92 and 2007-13 Periods

FRB Richmond Working Paper No. 15-05
Number of pages: 39 Posted: 13 Aug 2015
Eliana Balla, Edward S. Prescott and John R. Walter
Federal Reserve Banks - Federal Reserve Bank of Richmond, Federal Reserve Banks - Federal Reserve Bank of Cleveland and Federal Reserve Banks - Federal Reserve Bank of Richmond
Downloads 122 (238,740)

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8.
Downloads 115 (249,478)
Citation 9

Contingent Capital: The Trigger Problem

FRB Richmond Economic Quarterly, vol. 98, no. 1, First Quarter 2012, pp. 33-50
Number of pages: 18 Posted: 20 Dec 2012
Edward S. Prescott
Federal Reserve Banks - Federal Reserve Bank of Cleveland
Downloads 91 (294,466)
Citation 1

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Contingent Capital: The Trigger Problem

FRB Richmond Working Paper No. 11-07
Number of pages: 19 Posted: 18 Dec 2012
Edward S. Prescott
Federal Reserve Banks - Federal Reserve Bank of Cleveland
Downloads 24 (533,339)
Citation 5

Abstract:

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bank regulation, contingent capital

9.

Banker Compensation and Bank Risk Taking: The Organizational Economics View

FRB Richmond Working Paper No. 13-03
Number of pages: 30 Posted: 06 Mar 2013
Arantxa Jarque and Edward S. Prescott
Federal Reserve Banks - Federal Reserve Bank of Richmond and Federal Reserve Banks - Federal Reserve Bank of Cleveland
Downloads 103 (269,445)
Citation 5

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incentive compensation, bank regulation, risk shifting

10.

Introduction to the Special Issue on the Diamond-Dybvig Model

FRB Richmond Economic Quarterly, vol. 96, no. 1, First Quarter 2010, pp. 1-9
Number of pages: 9 Posted: 16 Dec 2012
Edward S. Prescott
Federal Reserve Banks - Federal Reserve Bank of Cleveland
Downloads 92 (290,232)

Abstract:

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11.

The Financial Crisis, the Collapse of Bank Entry, and Changes in the Size Distribution of Banks

FRB Richmond Economic Quarterly, vol. 100, no. 1, First Quarter 2014, pp. 23-50
Number of pages: 28 Posted: 31 Jul 2015
Roisin McCord and Edward S. Prescott
Federal Reserve Banks - Federal Reserve Bank of Richmond and Federal Reserve Banks - Federal Reserve Bank of Cleveland
Downloads 85 (304,979)
Citation 2

Abstract:

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12.

Origins of Too-Big-To-Fail Policy

FRB of Cleveland Working Paper No. 17-10
Number of pages: 44 Posted: 25 May 2017
George Nurisso and Edward S. Prescott
Federal Reserve Banks - Federal Reserve Bank of Cleveland and Federal Reserve Banks - Federal Reserve Bank of Cleveland
Downloads 77 (323,483)

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Too big to fail, deposit insurance, banking, time consistency

13.

Group Lending and Financial Intermediation: An Example

FRB Richmond Economic Quarterly, Vol. 83, No. 4, Fall 1997, pp. 23-48
Number of pages: 26 Posted: 19 Nov 2012
Edward S. Prescott
Federal Reserve Banks - Federal Reserve Bank of Cleveland
Downloads 76 (325,994)
Citation 1

Abstract:

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14.

State-Contingent Bank Regulation with Unobserved Action and Unobserved Characteristics

FRB of Chicago Working Paper No. 2002-24
Number of pages: 64 Posted: 27 Mar 2003
David A. Marshall and Edward S. Prescott
Federal Reserve Bank of Chicago and Federal Reserve Banks - Federal Reserve Bank of Cleveland
Downloads 75 (328,512)
Citation 8

Abstract:

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15.

Should Bank Supervisors Disclose Information about Their Banks?

FRB Richmond Economic Quarterly, Vol. 94, No. 1, Winter 2008, pp. 1-16
Number of pages: 16 Posted: 11 Dec 2012
Edward S. Prescott
Federal Reserve Banks - Federal Reserve Bank of Cleveland
Downloads 68 (346,780)
Citation 4

Abstract:

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16.

Regulating Bank Capital Structure to Control Risk

FRB Richmond Economic Quarterly, Vol. 87, No. 3, Summer 2001, pp. 35-52
Number of pages: 18 Posted: 30 Nov 2012
Edward S. Prescott
Federal Reserve Banks - Federal Reserve Bank of Cleveland
Downloads 62 (363,824)

Abstract:

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17.

An Experimental Analysis of Contingent Capital Triggering Mechanisms

FRB Richmond Working Paper No. 11-01R
Number of pages: 42 Posted: 18 Dec 2012
Douglas D. Davis, Oleg Korenok and Edward S. Prescott
Virginia Commonwealth University - School of Business - Department of Economics, Virginia Commonwealth University - School of Business and Federal Reserve Banks - Federal Reserve Bank of Cleveland
Downloads 55 (385,656)
Citation 9

Abstract:

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bank regulation, experiments, contingent capital

18.

A Comparison of Small Bank Failures and FDIC Losses in the 1986–92 and 2007–13 Banking Crises

FRB of Cleveland Working Paper No. 17-19
Number of pages: 55 Posted: 04 Dec 2017
Eliana Balla, Laurel Mazur, Edward S. Prescott and John R. Walter
Federal Reserve Banks - Federal Reserve Bank of Richmond, University of Maryland, Federal Reserve Banks - Federal Reserve Bank of Cleveland and Federal Reserve Banks - Federal Reserve Bank of Richmond
Downloads 47 (412,925)

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bank regulation, bank failures, Prompt Corrective Action, FDIC losses

19.

Optimal Bonuses and Deferred Pay for Bank Employees: Implications of Hidden Actions with Persistent Effects in Time

FRB Richmond Working Paper No. 10-16
Number of pages: 43 Posted: 16 Dec 2012
Arantxa Jarque and Edward S. Prescott
Federal Reserve Banks - Federal Reserve Bank of Richmond and Federal Reserve Banks - Federal Reserve Bank of Cleveland
Downloads 44 (424,184)
Citation 9

Abstract:

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moral hazard, persistence, bonus, deferred pay, banking

20.

Means of Payment, the Unbanked, and EFT '99

FRB Richmond Economic Quarterly, vol. 85, no. 4, Fall 1999, pp. 49-70
Number of pages: 22 Posted: 26 Nov 2012
Edward S. Prescott and Daniel Tatar
Federal Reserve Banks - Federal Reserve Bank of Cleveland and Independent
Downloads 41 (435,881)
Citation 1

Abstract:

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21.

Too Big to Manage? Two Book Reviews

FRB Economic Quarterly, Vol. 99, No. 2, Second Quarter 2013, pp. 143-162, Federal Reserve Bank of Richmond Research Paper
Number of pages: 20 Posted: 29 May 2014
Edward S. Prescott
Federal Reserve Banks - Federal Reserve Bank of Cleveland
Downloads 39 (444,246)

Abstract:

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22.

Theory of the Firm: Applied Mechanism Design

Federal Reserve Bank of Richmond Working Paper No. 96-2
Number of pages: 68 Posted: 17 Nov 2012
Edward S. Prescott and Robert M. Townsend
Federal Reserve Banks - Federal Reserve Bank of Cleveland and MIT - Department of Economics
Downloads 33 (470,140)
Citation 2

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Federal Reserve Structure, Economic Ideas, and Monetary and Financial Policy

FRB of Cleveland Working Paper No. 19-13, June 2019
Number of pages: 67 Posted: 17 Jul 2019
Michael D. Bordo and Edward S. Prescott
Rutgers University, New Brunswick - Department of Economics and Federal Reserve Banks - Federal Reserve Bank of Cleveland
Downloads 23 (539,796)

Abstract:

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Federal Reserve System, monetary policy, financial regulation, governance

Federal Reserve Structure, Economic Ideas, and Monetary and Financial Policy

NBER Working Paper No. w26098
Number of pages: 68 Posted: 02 Aug 2019
Michael D. Bordo and Edward S. Prescott
Rutgers University, New Brunswick - Department of Economics and Federal Reserve Banks - Federal Reserve Bank of Cleveland
Downloads 9 (636,810)
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24.

The Pre-Commitment Approach in a Model of Regulatory Banking Capital

FRB Richmond Economic Quarterly, Vol. 83, No. 1, Winter 1997, pp. 23-50
Number of pages: 28 Posted: 19 Nov 2012
Edward S. Prescott
Federal Reserve Banks - Federal Reserve Bank of Cleveland
Downloads 31 (479,664)

Abstract:

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25.

Fixed Prices and Regulatory Discretion as Triggers for Contingent Capital Conversion: An Experimental Examination

FRB Richmond Working Paper No. 15-02
Number of pages: 30 Posted: 13 Aug 2015
Douglas D. Davis and Edward S. Prescott
Virginia Commonwealth University - School of Business - Department of Economics and Federal Reserve Banks - Federal Reserve Bank of Cleveland
Downloads 29 (489,521)

Abstract:

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Firms as Clubs in Walrasian Markets with Private Information

FRB Richmond Working Paper No. 00-8
Number of pages: 60 Posted: 27 Nov 2012
Edward S. Prescott and Robert M. Townsend
Federal Reserve Banks - Federal Reserve Bank of Cleveland and MIT - Department of Economics
Downloads 28 (508,778)
Citation 6

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private information, general equilibrium, clubs, theory of the firm

Firms as Clubs in Walrasian Markets with Private Information

Journal of Political Economy, Vol. 114, pp. 644-71, August 2006
Posted: 01 Nov 2006
Edward S. Prescott and Robert M. Townsend
Federal Reserve Banks - Federal Reserve Bank of Cleveland and MIT - Department of Economics

Abstract:

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27.

Mechanism Design and Assignment Models

FRB Richmond Working Paper No. 03-9
Number of pages: 33 Posted: 03 Dec 2012
Edward S. Prescott and Robert M. Townsend
Federal Reserve Banks - Federal Reserve Bank of Cleveland and MIT - Department of Economics
Downloads 27 (500,173)
Citation 4

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assignment, private information, communication

28.

Liquidity Requirements and the Interbank Loan Market: An Experimental Investigation

FRB of Cleveland Working Paper No. 18-10
Number of pages: 37 Posted: 01 Aug 2018
Douglas D. Davis, Oleg Korenok, John P. Lightle and Edward S. Prescott
Virginia Commonwealth University - School of Business - Department of Economics, Virginia Commonwealth University - School of Business, Florida State University - Department of Economics and Federal Reserve Banks - Federal Reserve Bank of Cleveland
Downloads 25 (511,280)

Abstract:

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Interbank market, liquidity regulation, market experiments

29.

Firms, Assignments, and Earnings

FRB Richmond Economic Quarterly, Vol. 89, No. 4, Fall 2003, pp. 69-81
Number of pages: 13 Posted: 05 Dec 2012
Edward S. Prescott
Federal Reserve Banks - Federal Reserve Bank of Cleveland
Downloads 22 (528,917)
Citation 1

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30.

Hired Hooves: Transactions in a South Indian Village Factor Market

The Australian Journal of Agricultural and Resource Economics, Vol. 46, pp. 233-255, 2002
Number of pages: 23 Posted: 29 Dec 2002
Rolf A.E. Müller, Edward S. Prescott and Daniel A. Sumner
University of Kiel, Federal Reserve Banks - Federal Reserve Bank of Cleveland and University of California, Davis - Department of Agricultural and Resource Economics
Downloads 21 (534,869)
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Computing Moral Hazard Problems Using the Dantzig-Wolfe Decomposition Algorithm

FRB Richmond Working Paper No. 98-6
Number of pages: 29 Posted: 21 Nov 2012
Edward S. Prescott
Federal Reserve Banks - Federal Reserve Bank of Cleveland
Downloads 20 (559,645)
Citation 2

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Computing Moral-Hazard Problems Using the Dantzig-Wolfe Decomposition Algorithm

Working Paper 98-6
Posted: 10 Sep 1998
Edward S. Prescott
Federal Reserve Banks - Federal Reserve Bank of Cleveland

Abstract:

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32.

Liquidity Requirements and the Interbank Loan Market: An Experimental Investigation (Presentation Slides)

Proceedings of the 4th Chapman Conference on Money & Finance on Liquidity: Pricing, Management and Financial Stability
Number of pages: 43 Posted: 14 Jan 2020
Douglas D. Davis, John Lightle, Oleg Korenok and Edward S. Prescott
Virginia Commonwealth University - School of Business - Department of Economics, Virginia Commonwealth University (VCU), Virginia Commonwealth University - School of Business and Federal Reserve Banks - Federal Reserve Bank of Cleveland
Downloads 18 (553,309)

Abstract:

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Liquidity regulation, interbank market, bank reserves, experimental analysis

33.

State-Contingent Bank Regulation with Unobserved Actions and Unobserved Characteristics

FRB Richmond Working Paper No. 04-02
Number of pages: 36 Posted: 04 Dec 2012
David A. Marshall and Edward S. Prescott
Federal Reserve Bank of Chicago and Federal Reserve Banks - Federal Reserve Bank of Cleveland
Downloads 16 (565,352)

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bank regulation, moral hazard, hidden information

34.

A Regional Look at the Role of House Prices and Labor Market Conditions in Mortgage Default

FRB Richmond Economic Quarterly, vol. 97, no. 1, First Quarter 2011, pp. 1-43
Number of pages: 43 Posted: 19 Dec 2012
Sonya Waddell, Anne Davlin and Edward S. Prescott
Federal Reserve Banks - Federal Reserve Bank of Richmond, Federal Reserve Banks - Federal Reserve Bank of Richmond and Federal Reserve Banks - Federal Reserve Bank of Cleveland
Downloads 14 (578,047)

Abstract:

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35.

Technological Design and Moral Hazard

FRB Richmond Economic Quarterly, vol. 91, no. 4, Fall 2005, pp. 43-55
Number of pages: 13 Posted: 06 Dec 2012
Edward S. Prescott
Federal Reserve Banks - Federal Reserve Bank of Cleveland
Downloads 14 (578,047)

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36.

Firms as Clubs in Walrasian Markets with Private Information: Technical Appendix

FRB Richmond Working Paper No. 05-11
Number of pages: 19 Posted: 06 Dec 2012
Edward S. Prescott and Robert M. Townsend
Federal Reserve Banks - Federal Reserve Bank of Cleveland and MIT - Department of Economics
Downloads 14 (578,047)
Citation 2

Abstract:

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competitive equilibrium, clubs, private information

37.

Banker Compensation, Relative Performance, and Bank Risk

FRB of Cleveland Working Paper No. 19-20
Number of pages: 35 Posted: 13 Nov 2019
Arantxa Jarque and Edward S. Prescott
Federal Reserve Banks - Federal Reserve Bank of Richmond and Federal Reserve Banks - Federal Reserve Bank of Cleveland
Downloads 13 (584,444)

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incentive compensation, relative performance, bank regulation

38.

Incentives, Communication, and Payment Instruments

FRB Richmond Working Paper No. 00-11
Number of pages: 30 Posted: 28 Nov 2012
Edward S. Prescott and John A. Weinberg
Federal Reserve Banks - Federal Reserve Bank of Cleveland and Federal Reserve Banks - Federal Reserve Bank of Richmond
Downloads 13 (584,444)

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means of payment, incentives, communication

39.

Macroprudential Policy: Results from a Tabletop Exercise

FRB of Cleveland Working Paper No. 19-11, May 2019
Number of pages: 31 Posted: 17 Jul 2019
Federal Reserve Banks - Federal Reserve Bank of Cleveland, Federal Reserve Bank of Cleveland, Federal Reserve Bank of New York, Federal Reserve Banks - Federal Reserve Bank of Dallas, Federal Reserve Banks - Federal Reserve Bank of Cleveland, Federal Reserve Bank of Chicago - Economic Research, Federal Reserve Banks - Federal Reserve Bank of Minneapolis, Board of Governors of the Federal Reserve System, Federal Reserve Bank of New York and Board of Governors of the Federal Reserve System
Downloads 3 (652,946)

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financial stability, macroprudential policy, monetary policy