Richard J. Rosen

Federal Reserve Bank of Chicago - Economic Research

230 South LaSalle Street

Chicago, IL 60604

United States

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    • Tel: 312-322-6368
    • Fax: 312-294-6262
SCHOLARLY PAPERS

29

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424

CROSSREF CITATIONS

197

Scholarly Papers (29)

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1.

Eat or Be Eaten: A Theory of Mergers and Firm Size

Downloads 3,774 ( 5,792)
Citation 36

Eat or Be Eaten: A Theory of Mergers and Firm Size

FRB of Chicago Working Paper No. WP-06-14
Posted: 12 Jul 2021 Last Revised: 11 Jul 2021
Gary B. Gorton, Matthias Kahl and Richard J. Rosen
Yale School of Management, affiliation not provided to SSRN and Federal Reserve Bank of Chicago - Economic Research

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Eat or Be Eaten: A Theory of Mergers and Firm Size

Number of pages: 85 Posted: 04 May 2005 Last Revised: 25 Feb 2009
Gary B. Gorton, Matthias Kahl and Richard J. Rosen
Yale School of Management, University of California, Los Angeles (UCLA) - Anderson School of Management and Federal Reserve Bank of Chicago - Economic Research
Downloads 3,564 (6,263)
Citation 29

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Mergers, Merger Waves

Eat or Be Eaten: A Theory of Mergers and Merger Waves

NBER Working Paper No. w11364
Number of pages: 66 Posted: 24 Jun 2005 Last Revised: 22 Jul 2022
Gary B. Gorton, Matthias Kahl and Richard J. Rosen
Yale School of Management, University of California, Los Angeles (UCLA) - Anderson School of Management and Federal Reserve Bank of Chicago - Economic Research
Downloads 210 (278,106)
Citation 1

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2.

Merger Momentum and Investor Sentiment: The Stock Market Reaction to Merger Announcements

Downloads 3,289 ( 7,244)
Citation 47

Merger Momentum and Investor Sentiment: The Stock Market Reaction to Merger Announcements

FRB Chicago Working Paper No. 2004-07
Number of pages: 43 Posted: 23 Jan 2003
Richard J. Rosen
Federal Reserve Bank of Chicago - Economic Research
Downloads 2,322 (12,356)
Citation 50

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mergers, investor sentiment, long-run reaction, merger momentum, hot markets

Merger Momentum and Investor Sentiment: The Stock Market Reaction to Merger Announcements

Journal of Business, Vol. 79, No. 2, March 2006
Number of pages: 39 Posted: 15 Dec 2005
Richard J. Rosen
Federal Reserve Bank of Chicago - Economic Research
Downloads 967 (46,272)

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mergers, investor sentiment, long-run reaction, merger momentum, hot markets

3.

CEO Compensation and Bank Mergers

Number of pages: 35 Posted: 28 Mar 2000
Richard T. Bliss and Richard J. Rosen
Babson College - Finance Division and Federal Reserve Bank of Chicago - Economic Research
Downloads 1,215 (33,958)
Citation 41

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4.

Does Market Size Structure Affect Competition? The Case of Small Business Lending

Number of pages: 31 Posted: 14 Oct 2001
Allen N. Berger, Richard J. Rosen and Gregory F. Udell
University of South Carolina - Darla Moore School of Business, Federal Reserve Bank of Chicago - Economic Research and Indiana University - Kelley School of Business - Department of Finance
Downloads 1,146 (36,853)
Citation 45

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Banks, small business, mergers, relationship lending, size structure, loan prices

5.

Why Do Firms Go Public? Evidence from the Banking Industry

Number of pages: 37 Posted: 23 Mar 2005
Richard J. Rosen, Scott Smart and Chad J. Zutter
Federal Reserve Bank of Chicago - Economic Research, Indiana University - Kelley School of Business - Department of Finance and University of Pittsburgh
Downloads 1,137 (37,280)
Citation 23

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Going public, initial public offering, takeover, banking

6.

The Effect of Monetary Policy on the Availability of Credit: How the Credit Channel Works

FRB of Chicago Working Paper No. 2007-13 (revised)
Number of pages: 36 Posted: 09 Dec 2007 Last Revised: 03 Apr 2011
Lamont Black and Richard J. Rosen
DePaul University - Driehaus College of Business and Federal Reserve Bank of Chicago - Economic Research
Downloads 1,049 (41,925)
Citation 6

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monetary policy, credit channel, bank lending channel, balance sheet channel

7.

Mergers Increase Default Risk

Number of pages: 33 Posted: 17 Mar 2006 Last Revised: 14 Mar 2012
Craig Furfine and Richard J. Rosen
Kellogg School of Management - Department of Finance and Federal Reserve Bank of Chicago - Economic Research
Downloads 731 (68,626)
Citation 32

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mergers, default risk, EDF

8.

Are Covered Bonds a Substitute for Mortgage-Backed Securities?

Downloads 692 (73,687)
Citation 6

Are Covered Bonds a Substitute for Mortgage-Backed Securities?

26th Australasian Finance and Banking Conference 2013
Number of pages: 42 Posted: 08 Aug 2013
Santiago Carbo-Valverde, Francisco Rodriguez-Fernandez and Richard J. Rosen
Universitat de València, University of Granada - Department of Economic Theory and History and Federal Reserve Bank of Chicago - Economic Research
Downloads 411 (138,023)
Citation 5

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Are Covered Bonds a Substitute for Mortgage-Backed Securities?

FRB of Chicago Working Paper No. 2011-14
Number of pages: 41 Posted: 08 Dec 2011 Last Revised: 15 Mar 2012
Santiago Carbo-Valverde, Richard J. Rosen and Francisco Rodriguez-Fernandez
Universitat de València, Federal Reserve Bank of Chicago - Economic Research and University of Granada - Department of Economic Theory and History
Downloads 281 (208,842)
Citation 4

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Covered bonds, mortgage-backed securities

9.

The Sensitivity of Life Insurance Firms to Interest Rate Changes

Economic Perspectives, Vol. 37, No. 2, 2013
Number of pages: 32 Posted: 28 Jan 2014
Kyal Berends, Robert McMenamin, Thanases Plestis and Richard J. Rosen
Federal Reserve Bank of Chicago, Federal Reserve Bank of Chicago - Economic Research, Federal Reserve Bank of Chicago and Federal Reserve Bank of Chicago - Economic Research
Downloads 585 (91,058)
Citation 1

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Insurance, Insurance Companies, life insurance, interest rates

10.

The Impact of the Originate-to-Distribute Model on Banks Before and During the Financial Crisis

Downloads 573 (93,424)
Citation 9

The Impact of the Originate-to-Distribute Model on Banks Before and During the Financial Crisis

24th Australasian Finance and Banking Conference 2011 Paper
Number of pages: 48 Posted: 15 Mar 2011 Last Revised: 26 Aug 2011
Richard J. Rosen
Federal Reserve Bank of Chicago - Economic Research
Downloads 310 (188,321)
Citation 10

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Mortgages, financial crisis, OTD model, securitization, loan sales

The Impact of the Originate-to-Distribute Model on Banks Before and During the Financial Crisis

FRB of Chicago Working Paper No. 2010-20
Number of pages: 48 Posted: 04 Dec 2010 Last Revised: 15 Mar 2011
Richard J. Rosen
Federal Reserve Bank of Chicago - Economic Research
Downloads 263 (223,480)
Citation 9

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OTD model, securitization, loan sales, financial crisis, banking

11.

Why Do Borrowers Make Mortgage Refinancing Mistakes?

Downloads 565 (95,301)
Citation 63

Why Do Borrowers Make Mortgage Refinancing Mistakes?

Forthcoming, Management Science
Number of pages: 46 Posted: 07 Jun 2014 Last Revised: 01 Jun 2015
Sumit Agarwal, Richard J. Rosen and Vincent Yao
National University of Singapore, Federal Reserve Bank of Chicago - Economic Research and Georgia State University - J. Mack Robinson College of Business
Downloads 408 (139,561)
Citation 12

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Household Finance, Mortgages, Refinance, Option Value, Financial Crisis, Rational Inattention

Why Do Borrowers Make Mortgage Refinancing Mistakes?

FRB of Chicago Working Paper No. 2013-02
Number of pages: 52 Posted: 04 May 2013
Sumit Agarwal, Richard J. Rosen and Vincent Yao
National University of Singapore, Federal Reserve Bank of Chicago - Economic Research and Georgia State University - J. Mack Robinson College of Business
Downloads 157 (361,318)
Citation 26

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Household Finance, Mortgages, Refinance, Option Value, Financial Crisis, Rational Inattention

12.

Public Debt as a Punching Bag: An Agency Model of the Mix of Public and Private Debt

Number of pages: 32 Posted: 23 Apr 1998
Richard J. Rosen and Mark Carey
Federal Reserve Bank of Chicago - Economic Research and Board of Governors of the Federal Reserve System
Downloads 414 (138,186)
Citation 4

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13.

Betcha Can't Acquire Just One: Merger Programs and Compensation

FRB Chicago Working Paper No. 2004-22
Number of pages: 38 Posted: 19 Nov 2004
Richard J. Rosen
Federal Reserve Bank of Chicago - Economic Research
Downloads 401 (143,323)
Citation 13

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Mergers, CEO compensation, merger programs, repeat acquirers, managerial motivations

14.

Bubble, Bubble, Toil, and Trouble

Economic Perspectives, Vol. 31, No. 1, 2007
Number of pages: 20 Posted: 09 Feb 2007
Cabray Haines and Richard J. Rosen
Federal Reserve Bank of Chicago and Federal Reserve Bank of Chicago - Economic Research
Downloads 360 (161,626)

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housing, bubble, home prices, real estate, Housing Demand, Housing Supply and Markets

15.

Measuring Interest Rate Risk in the Life Insurance Sector: The U.S. And the U.K

FRB of Chicago Working Paper No. WP-2016-2
Number of pages: 37 Posted: 04 May 2016 Last Revised: 07 May 2016
Daniel A. Hartley, Anna L. Paulson and Richard J. Rosen
Federal Reserve Bank of Chicago, Federal Reserve Bank of Chicago and Federal Reserve Bank of Chicago - Economic Research
Downloads 340 (171,951)
Citation 1

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Insurance companies, Interest rate risk, Life insurance, Low interest rates

16.

Do Regulators Search for the Quiet Life? The Relationship Between Regulators and the Regulated in Banking

FRB Chicago Working Paper 2001-05
Number of pages: 34 Posted: 23 Jan 2001
Richard J. Rosen
Federal Reserve Bank of Chicago - Economic Research
Downloads 324 (181,097)
Citation 6

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17.

Banking Market Conditions and Deposit Interest Rates

Number of pages: 39 Posted: 05 Jan 2004
Richard J. Rosen
Federal Reserve Bank of Chicago - Economic Research
Downloads 306 (192,333)
Citation 10

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Banks, Size Structure, Deposits, Interest Rates, Antitrust Policy

18.

Banks and Derivatives

Downloads 270 (218,959)

Banks and Derivatives

NBER Working Paper No. w5100
Number of pages: 49 Posted: 13 Jul 2000 Last Revised: 10 Dec 2022
Gary B. Gorton and Richard J. Rosen
Yale School of Management and Federal Reserve Bank of Chicago - Economic Research
Downloads 270 (217,676)
Citation 1

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Banks and Derivatives

Rodney L. White Center for Financial Research Working Paper No. 6-95
Posted: 22 Aug 1998
Gary B. Gorton and Richard J. Rosen
Yale School of Management and Federal Reserve Bank of Chicago - Economic Research

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19.

Is Three a Crowd? Competition Among Regulators in Banking

Downloads 255 (231,765)

Is Three a Crowd? Competition Among Regulators in Banking

Number of pages: 37 Posted: 24 Jan 2003
Richard J. Rosen
Federal Reserve Bank of Chicago - Economic Research
Downloads 255 (230,553)
Citation 15

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bank regulation, regulatory competition, race for the bottom

Is Three a Crowd? Competition Among Regulators in Banking

Posted: 24 Jan 2003
Richard J. Rosen
Federal Reserve Bank of Chicago - Economic Research

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bank regulation, regulatory competition, race for the bottom

20.

Too Much Right can Make a Wrong: Setting the Stage for the Financial Crisis

FRB of Chicago Working Paper No. 2009-18
Number of pages: 38 Posted: 05 Dec 2009
Richard J. Rosen
Federal Reserve Bank of Chicago - Economic Research
Downloads 216 (271,820)
Citation 3

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Financial crisis, investor behavior, overconfidence

21.

Competition in Mortgage Markets: The Effect of Lender Type on Loan Characteristics

Economic Perspectives, Vol. 35, No. 1, 2011
Number of pages: 20 Posted: 11 Feb 2011
Richard J. Rosen
Federal Reserve Bank of Chicago - Economic Research
Downloads 196 (297,275)
Citation 6

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Mortgages, Housing Boom, Mortgage Origination, Mortgage Characteristics, Banks, Other Depository Institutions, Micro Finance Institutions, Mortgages, Real Estate Services

22.

The Role of Lenders in the Home Price Boom

FRB of Chicago Working Paper No. 2008-16
Number of pages: 37 Posted: 07 Dec 2008
Richard J. Rosen
Federal Reserve Bank of Chicago - Economic Research
Downloads 123 (438,101)
Citation 1

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real estate, home prices, bubble

23.

The Life Insurance Industry and Systemic Risk: A Bond Market Perspective

Downloads 122 (440,846)

The Life Insurance Industry and Systemic Risk: A Bond Market Perspective

FRB of Chicago Working Paper No. WP-2016-4
Number of pages: 37 Posted: 05 May 2016
Anna L. Paulson and Richard J. Rosen
Federal Reserve Bank of Chicago and Federal Reserve Bank of Chicago - Economic Research
Downloads 122 (442,684)
Citation 1

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Insurance, Bond, Over-the-Counter (OTC), Trading

The Life Insurance Industry and Systemic Risk: A Bond Market Perspective

Annual Review of Financial Economics, Vol. 8, pp. 155-174, 2016
Posted: 18 Nov 2016
Anna L. Paulson and Richard J. Rosen
Federal Reserve Bank of Chicago and Federal Reserve Bank of Chicago - Economic Research

Abstract:

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24.

Are Covered Bonds a Substitute for Mortgaged-Back Securities?

Midwest Finance Association 2013 Annual Meeting Paper
Number of pages: 41 Posted: 14 Sep 2012
Santiago Carbo-Valverde, Richard J. Rosen and Francisco Rodriguez-Fernandez
Universitat de València, Federal Reserve Bank of Chicago - Economic Research and University of Granada - Department of Economic Theory and History
Downloads 121 (443,556)
Citation 1

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Covered bonds, MBS, issuance, banks

25.

Corporate Control, Portfolio Choice, and the Decline of Banking

Downloads 107 (485,703)
Citation 3

Corporate Control, Portfolio Choice, and the Decline of Banking

NBER Working Paper No. w4247
Number of pages: 52 Posted: 29 Dec 2006 Last Revised: 11 Aug 2022
Gary B. Gorton and Richard J. Rosen
Yale School of Management and Federal Reserve Bank of Chicago - Economic Research
Downloads 107 (488,924)
Citation 3

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Corporate Control, Portfolio Choice, and the Decline of Banking

JOURNAL OF FINANCE, Vol 50 No 5, December 1995
Posted: 22 Jul 1998
Gary B. Gorton and Richard J. Rosen
Yale School of Management and Federal Reserve Bank of Chicago - Economic Research

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26.

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
Denise J. Duffy, Joseph G. Haubrich, Anna Kovner, Alex Musatov, Edward S. Prescott, Richard J. Rosen, Thomas D. Tallarini, Alexandros Vardoulakis, Emily Yang and Andrei Zlate
Federal Reserve Bank of Cleveland, Federal Reserve Bank of Cleveland, Federal Reserve Banks - Federal Reserve Bank of Richmond, 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 47 (758,792)

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financial stability, macroprudential policy, monetary policy

27.

Uncertainty, Welfare Cost, and the 'Adaptability' of U.S. Corporate Taxes

NBER Working Paper No. w1239
Number of pages: 25 Posted: 05 Jul 2004 Last Revised: 21 Nov 2022
Don Fullerton, Andrew B. Lyon and Richard J. Rosen
University of Illinois at Urbana-Champaign - Department of Finance, PricewaterhouseCoopers LLP and Federal Reserve Bank of Chicago - Economic Research
Downloads 40 (807,952)

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28.

Climate Change and Financial Stability

FEDS Notes No. 2021-03-19-3
Posted: 22 Mar 2021 Last Revised: 17 Jun 2021
Celso Brunetti, Benjamin Dennis, Dylan Gates, Diana Hancock, David Ignell, Elizabeth K. Kiser, Gurubala Kotta, Anna Kovner, Richard J. Rosen and Nicholas Kean Tabor
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Federal Reserve Banks - Federal Reserve Bank of New York, Board of Governors of the Federal Reserve System, University of California, Davis, Federal Reserve Banks - Federal Reserve Bank of Richmond, Federal Reserve Bank of Chicago - Economic Research and Board of Governors of the Federal Reserve System

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29.

What Goes Up Must Come Down? Asymmetries and Persistence in Bank Deposit Rates

Posted: 08 Mar 2003
Richard J. Rosen
Federal Reserve Bank of Chicago - Economic Research

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Banks, interest rates, bank deposits