Adam B. Ashcraft

Federal Reserve Bank of New York

33 Liberty Street

New York, NY 10045-0001

United States

SCHOLARLY PAPERS

28

DOWNLOADS
Rank 1,487

SSRN RANKINGS

Top 1,487

in Total Papers Downloads

38,220

TOTAL CITATIONS
Rank 1,258

SSRN RANKINGS

Top 1,258

in Total Papers Citations

1,425

Scholarly Papers (28)

Understanding the Securitization of Subprime Mortgage Credit

Wharton Financial Institutions Center Working Paper No. 07-43, FRB of New York Staff Report, No. 318
Number of pages: 82 Posted: 14 Dec 2007 Last Revised: 11 Mar 2008
Adam B. Ashcraft and Til Schuermann
Federal Reserve Bank of New York and Oliver Wyman
Downloads 14,873 (597)
Citation 184

Abstract:

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subprime mortgage credit, securitization, rating agencies, principal agent, moral hazard

Understanding the Securitization of Subprime Mortgage Credit

Foundations and Trends in Finance, Vol. 2, No. 3, pp. 191-309, 2006
Number of pages: 119 Posted: 14 Jun 2010
Adam B. Ashcraft and Til Schuermann
Federal Reserve Bank of New York and Oliver Wyman
Downloads 16 (1,188,281)
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Subprime mortgage credit, securitization, rating agencies, principal agent, moral hazard

2.
Downloads 10,824 ( 1,057)
Citation 601

Shadow Banking

Number of pages: 81 Posted: 16 Jul 2010
Zoltan Pozsar, Tobias Adrian, Adam B. Ashcraft and Haley Boesky
Federal Reserve Banks - Federal Reserve Bank of New York, International Monetary Fund, Federal Reserve Bank of New York and Bank of America Merrill Lynch
Downloads 5,739 (2,997)
Citation 128

Abstract:

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shadow banking, financial intermediation

Shadow Banking

FRB of New York Staff Report No. 458
Number of pages: 81 Posted: 20 Jul 2010 Last Revised: 09 Aug 2014
Zoltan Pozsar, Tobias Adrian, Adam B. Ashcraft and Haley Boesky
Federal Reserve Banks - Federal Reserve Bank of New York, International Monetary Fund, Federal Reserve Bank of New York and Bank of America Merrill Lynch
Downloads 2,841 (9,586)
Citation 473

Abstract:

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shadow banking, financial intermediation

Shadow Banking

Economic Policy Review, Vol. 19, No. 2, 2013
Number of pages: 16 Posted: 13 Jan 2014
Zoltan Pozsar, Tobias Adrian, Adam B. Ashcraft and Hayley Boesky
Federal Reserve Banks - Federal Reserve Bank of New York, International Monetary Fund, Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 2,244 (14,015)

Abstract:

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credit intermediation, financial institutions

3.

Shadow Banking: A Review of the Literature

FRB of New York Staff Report No. 580
Number of pages: 38 Posted: 13 Nov 2012
Tobias Adrian and Adam B. Ashcraft
International Monetary Fund and Federal Reserve Bank of New York
Downloads 2,078 (16,162)
Citation 28

Abstract:

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shadow banking, financial stability, financial intermediation

4.
Downloads 1,921 (18,346)
Citation 34

Shadow Banking Regulation

FRB of New York Staff Report No. 559
Number of pages: 64 Posted: 20 Apr 2012
Tobias Adrian and Adam B. Ashcraft
International Monetary Fund and Federal Reserve Bank of New York
Downloads 1,921 (18,022)
Citation 34

Abstract:

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shadow banking, financial regulation

Shadow Banking Regulation

Annual Review of Financial Economics, Vol. 4, pp. 99-140, 2012
Posted: 04 Nov 2012
Tobias Adrian and Adam B. Ashcraft
International Monetary Fund and Federal Reserve Bank of New York

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5.

MBS Ratings and the Mortgage Credit Boom

FRB of New York Staff Report No. 449, European Banking Center Discussion Paper No. 2010-24S, CentER Discussion Paper Series No. 2010-89S
Number of pages: 59 Posted: 25 May 2010 Last Revised: 29 Aug 2010
Federal Reserve Bank of New York, Yale School of Management and Federal Reserve Bank of Philadelphia
Downloads 1,521 (26,236)
Citation 133

Abstract:

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Credit Rating Agencies, Subprime Crisis, Mortgage-Backed Securities

6.
Downloads 1,129 (40,600)
Citation 58

Has the CDS Market Lowered the Cost of Corporate Debt?

Number of pages: 44 Posted: 21 Jun 2007 Last Revised: 22 Jun 2016
Adam B. Ashcraft and João A. C. Santos
Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 1,129 (39,964)
Citation 58

Abstract:

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Credit default swaps, loan spreads, credit spreads.

Has the CDS Market Lowered the Cost of Corporate Debt?

Journal of Monetary Economics, Vol. 56, No. 4, 2009
Posted: 23 Sep 2009
Adam B. Ashcraft and João A. C. Santos
Federal Reserve Bank of New York and Federal Reserve Bank of New York

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Credit default swaps, loan spreads, credit spreads

7.

Firm Balance Sheets and Monetary Policy Transmission

Journal of Monetary Economics, Forthcoming
Number of pages: 41 Posted: 28 Jan 2006
Adam B. Ashcraft and Murillo Campello
Federal Reserve Bank of New York and University of Florida - Warrington College of Business Administration
Downloads 663 (83,556)
Citation 8

Abstract:

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Firm Financial Constraints, Monetary Policy, Balance Sheet Channel, Financial Conglomerates, Internal Capital Markets

8.

Are Bank Holding Companies a Source of Strength to Their Banking Subsidiaries?

Number of pages: 32 Posted: 23 Sep 2004
Adam B. Ashcraft
Federal Reserve Bank of New York
Downloads 641 (87,250)
Citation 37

Abstract:

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cross-guarantee provision, source-of-strength doctrine, bank capital regulation

9.

Shadow Bank Monitoring

FRB of New York Staff Report No. 638
Number of pages: 35 Posted: 03 Oct 2013
Tobias Adrian, Adam B. Ashcraft and Nicola Cetorelli
International Monetary Fund, Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 569 (101,602)
Citation 24

Abstract:

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shadow banking, financial stability monitoring, financial intermediation

10.

Does Skin‐in‐the‐Game Affect Security Performance?

Number of pages: 60 Posted: 17 Jul 2014 Last Revised: 18 Jan 2019
Adam B. Ashcraft, Kunal Gooriah and Amir Kermani
Federal Reserve Bank of New York, Federal Reserve Banks - Federal Reserve Bank of New York and University of California, Berkeley
Downloads 504 (117,960)
Citation 15

Abstract:

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skin-in-the-game, securitization, secondary market, commercial mortgage backed securities

11.

New Evidence on the Lending Channel

FRB of New York Staff Report No. 136
Number of pages: 58 Posted: 02 Sep 2001
Adam B. Ashcraft
Federal Reserve Bank of New York
Downloads 479 (125,414)
Citation 61

Abstract:

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internal capital markets, lending channel

12.

Are Banks Really Special? New Evidence from the Fdic-Induced Failure of Healthy Banks

FRB of New York Staff Report No. 176, EFMA 2004 Basel Meetings Paper
Number of pages: 45 Posted: 10 May 2004
Adam B. Ashcraft
Federal Reserve Bank of New York
Downloads 445 (137,030)
Citation 110

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Bank failures, cross-guarantee, uniqueness of banks

13.
Downloads 347 (181,398)
Citation 18

Precautionary Reserves and the Interbank Market

FRB of New York Staff Report No. 370
Number of pages: 55 Posted: 22 May 2009
Adam B. Ashcraft, James McAndrews and David R. Skeie
Federal Reserve Bank of New York, Wharton Financial Institutions Center and University of Warwick - Warwick Business School
Downloads 183 (342,615)
Citation 16

Abstract:

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Tax law, S corporations, organizational form, dividend policy, sell-offs, industry structure

Precautionary Reserves and the Interbank Market

Number of pages: 54 Posted: 22 Mar 2009
Adam B. Ashcraft, James McAndrews and David R. Skeie
Federal Reserve Bank of New York, Wharton Financial Institutions Center and University of Warwick - Warwick Business School
Downloads 164 (377,782)
Citation 2

Abstract:

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excess reserves, fed funds market, discount window, large-value payments, limited participation

14.

Do Tougher Bank Capital Requirements Matter? New Evidence from the Eighties

Number of pages: 39 Posted: 02 Sep 2001
Adam B. Ashcraft
Federal Reserve Bank of New York
Downloads 335 (188,447)
Citation 13

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Bank capital requirements, moral hazard, bank regulation

15.

The Federal Home Loan Bank System: The Lender of Next-to-Last Resort?

FRB of New York Staff Report No. 357, Federal Reserve Bank of Atlanta Working Paper No. 2009-4
Number of pages: 48 Posted: 02 Dec 2008
Adam B. Ashcraft, Morten L. Bech and W. Scott Frame
Federal Reserve Bank of New York, Bank for International Settlements (BIS) - Committee on Payments and Market Infrastructures and Bank Policy Institute
Downloads 299 (212,855)
Citation 14

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Federal Home Loan Bank, government-sponsored enterprise, lender of last resort, liquidity

16.

Does the Market Discipline Banks? New Evidence from the Regulatory Capital Mix

FRB of New York Staff Report No. 244
Number of pages: 41 Posted: 12 May 2006
Adam B. Ashcraft
Federal Reserve Bank of New York
Downloads 255 (250,569)
Citation 17

Abstract:

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market discipline, subordinated debt, bank capital regulation, financial distress, bond covenants

17.

The Bankruptcy Abuse Prevention and Consumer Protection Act: Means-Testing or Mean Spirited?

FRB of New York Staff Report No. 279
Number of pages: 28 Posted: 13 Mar 2007
Adam B. Ashcraft, Astrid Andrea Dick and Donald P. Morgan
Federal Reserve Bank of New York, Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 243 (262,860)
Citation 9

Abstract:

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bankruptcy, consumption smoothing, insurance, moral hazard

18.

On the Market Discipline of Informationally-Opaque Firms: Evidence from Bank Borrowers in the Federal Funds Market

FRB of New York Staff Report No. 257, FDIC Center for Financial Research Working Paper No. 2006-09
Number of pages: 62 Posted: 20 Sep 2006
Adam B. Ashcraft and C. Hoyt Bleakley
Federal Reserve Bank of New York and University of Chicago - Booth School of Business
Downloads 233 (273,820)
Citation 30

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Earnings management, market discipline, opaqueness

19.

Defaults and Losses on Commercial Real Estate Bonds during the Great Depression Era

FRB of New York Staff Report No. 544
Number of pages: 44 Posted: 10 Feb 2012
Tyler Wiggers and Adam B. Ashcraft
affiliation not provided to SSRN and Federal Reserve Bank of New York
Downloads 198 (319,445)
Citation 10

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Great Depression, CMBS market, default and loss study, commercial real estate

20.
Downloads 168 (370,301)
Citation 11

Two Monetary Tools: Interest Rates and Haircuts

NBER Working Paper No. w16337
Number of pages: 41 Posted: 07 Sep 2010 Last Revised: 20 Feb 2023
Adam B. Ashcraft, Nicolae Garleanu and Lasse Heje Pedersen
Federal Reserve Bank of New York, University of California, Berkeley - Haas School of Business and AQR Capital Management, LLC
Downloads 163 (379,800)
Citation 9

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Two Monetary Tools: Interest Rates and Haircuts

CEPR Discussion Paper No. DP8000
Number of pages: 43 Posted: 14 Nov 2010
Adam B. Ashcraft, Nicolae Garleanu and Lasse Heje Pedersen
Federal Reserve Bank of New York, University of California, Berkeley - Haas School of Business and AQR Capital Management, LLC
Downloads 5 (1,324,998)
Citation 2
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asset pricing, financial frictions, haircuts, liquidity, macroeconomics, margin requirements, monetary policy

21.

Borrowers' Financial Constraints and the Transmission of Monetary Policy: Evidence from Financial Conglomerates

FRB of New York Staff Report No. 153
Number of pages: 41 Posted: 31 Jul 2006
Adam B. Ashcraft and Murillo Campello
Federal Reserve Bank of New York and University of Florida - Warrington College of Business Administration
Downloads 159 (388,199)
Citation 7

Abstract:

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balance sheet channel, internal capital markets

22.

Identifying the Consequences of Teenage Childbearing

Number of pages: 43 Posted: 01 Sep 2001
Adam B. Ashcraft
Federal Reserve Bank of New York
Downloads 127 (465,217)
Citation 1

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23.

The Consequences of Teenage Childbearing

NBER Working Paper No. w12485
Number of pages: 48 Posted: 31 Aug 2006 Last Revised: 14 Aug 2022
Adam B. Ashcraft and Kevin Lang
Federal Reserve Bank of New York and Boston University - Department of Economics
Downloads 97 (567,151)
Citation 1

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24.

On the Economic Distortions of Smoothing Aggregate Volatility With Monetary Policy

Number of pages: 27 Posted: 02 Sep 2001
Adam B. Ashcraft
Federal Reserve Bank of New York
Downloads 80 (637,446)

Abstract:

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monetary policy, aggregate smoothing

25.

A Review of Shadow Banking

CEPR Discussion Paper No. DP13363
Number of pages: 38 Posted: 11 Dec 2018 Last Revised: 17 Dec 2018
International Monetary Fund, Federal Reserve Bank of New York, International Monetary Fund (IMF) and Federal Reserve Bank of New York
Downloads 16 (1,150,250)
Citation 1
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26.

Credit Ratings and Security Prices in the Subprime MBS Market

American Economic Review, Vol. 101, No. 3, pp. 115-119, 2011
Posted: 03 Jun 2011
Federal Reserve Bank of New York, Yale School of Management, Federal Reserve Banks - Federal Reserve Bank of New York and Federal Reserve Bank of Philadelphia

Abstract:

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credit ratings, mortgage-backed securities

27.

The Term Asset-Backed Securities Lending Facility

Posted: 18 Mar 2009
Adam B. Ashcraft, Allan Malz and Joshua V. Rosenberg
Federal Reserve Bank of New York, Federal Reserve Banks - Federal Reserve Bank of New York and Independent

Abstract:

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28.

Using Loan Rates to Measure and Regulate Bank Risk: Findings Immodest Proposal

Posted: 17 Feb 2004
Donald P. Morgan and Adam B. Ashcraft
Federal Reserve Bank of New York and Federal Reserve Bank of New York

Abstract:

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Deposit insurance reform, credit risk pricing, risk-based capital regulation