Open Access. Powered by Scholars. Published by Universities.®

Finance and Financial Management Commons

Open Access. Powered by Scholars. Published by Universities.®

7,811 Full-Text Articles 8,175 Authors 5,677,802 Downloads 265 Institutions

All Articles in Finance and Financial Management

Faceted Search

7,811 full-text articles. Page 1 of 278.

Lessons Learned: Kevin Warsh, Matthew A. Lieber 2022 Yale University

Lessons Learned: Kevin Warsh, Matthew A. Lieber

Journal of Financial Crises

As senior deputy director of the Division of Supervision and Consumer Protection at the Federal Deposit Insurance Corporation (FDIC), Spoth led examinations, enforcement actions, problem bank remediations, and failure resolutions, among a range of responsibilities. During the Global Financial Crisis, he was on the front lines of fast-moving policy discussions and actions to help stabilize the financial system, and he oversaw the closure and restructuring of some of the nation’s largest banks. This abstract is based on an interview with Spoth on February 4, 2021.


Lessons Learned: Christopher Spoth, Sandra Ward 2022 Yale University

Lessons Learned: Christopher Spoth, Sandra Ward

Journal of Financial Crises

As senior deputy director of the Division of Supervision and Consumer Protection at the Federal Deposit Insurance Corporation (FDIC), Spoth led examinations, enforcement actions, problem bank remediations, and failure resolutions, among a range of responsibilities. During the Global Financial Crisis, he was on the front lines of fast-moving policy discussions and actions to help stabilize the financial system, and he oversaw the closure and restructuring of some of the nation’s largest banks. This abstract is based on an interview with Spoth on February 4, 2021.


Lessons Learned: Brian Sack, Sandra Ward 2022 Yale University

Lessons Learned: Brian Sack, Sandra Ward

Journal of Financial Crises

Charged with overseeing the implementation of the asset-purchase programs and liquidity facilities in his roles as executive vice president of the Markets Group and manager of the System Open Market Account at the Federal Reserve Bank of New York (FRBNY), Brian Sack played a critical role in keeping markets functioning during the years 2009–2012. He served as an adviser to top policymakers, and, in addition to implementing the various programs designed to stabilize financial conditions, he monitored their impact and measured their performance. This Lessons Learned summary is based on an interview with Sack on November 13, 2020.


Lessons Learned: Nathan Sheets, Yasemin Sim Esmen, Rosalind Z. Wiggins 2022 Yale Program on Financial Stability

Lessons Learned: Nathan Sheets, Yasemin Sim Esmen, Rosalind Z. Wiggins

Journal of Financial Crises

Between 2007 and 2011, Nathan Sheets was director of the Division of International Finance at the Board of Governors of the Federal Reserve System. He oversaw the operations of the division and advised the Federal Open Market Committee (FOMC) on economic and financial developments in foreign countries. Sheets also regularly represented the Federal Reserve Board at international meetings and in its contacts with foreign central banks. Under his helm, the division was involved in helping establish and manage the US dollar liquidity swap lines with foreign central banks. This Lessons Learned abstract is based on an interview with Sheets on ...


Lessons Learned: Susan Mclaughlin, Matthew A. Lieber 2022 Yale University

Lessons Learned: Susan Mclaughlin, Matthew A. Lieber

Journal of Financial Crises

A veteran staff member of the Federal Reserve Bank of New York (FRBNY), Susan McLaughlin served as head of the discount window and chief operating officer of the FRBNY’s Markets Trading Desk during the Global Financial Crisis. She was centrally involved in the Fed’s policy response to the disruptions to secured and unsecured funding markets during 2007–2008. Following the crisis, McLaughlin coordinated an effective Fed initiative to reform the triparty repurchase agreement (repo) market’s settlement infrastructure. The Fed’s reform efforts, engaging the financial industry under FRBNY president Bill Dudley, were instrumental in im-proving the stability ...


Lessons Learned: Frederic Mishkin, Matthew A. Lieber 2022 Yale University

Lessons Learned: Frederic Mishkin, Matthew A. Lieber

Journal of Financial Crises

Rick Mishkin served as a member of the Board of Governors of the Federal Reserve System from 2006 to 2008 and as director of research at the Federal Reserve Bank of New York from 1994 to 1997. A leading expert on monetary economics and financial markets and a professor at Columbia University’s School of Business since 1983, Mishkin has written 20 books, including the textbook The Economics of Money, Banking, and Financial Markets. This Lessons Learned is based on an interview with Mishkin conducted on October 20, 2020.


Lessons Learned: Simon Potter, Maryann Haggerty 2022 Yale University

Lessons Learned: Simon Potter, Maryann Haggerty

Journal of Financial Crises

Simon Potter, an economist, worked at the Federal Reserve Bank of New York for more than two decades. Leading up to the Global Financial Crisis, he was the New York Fed’s associate director of economic research; in 2010, he became director. In 2012, he shifted to become the head of the markets group, putting him at the helm of the Fed’s open markets operations, the mechanism by which the central bank steers monetary policy and interest rates. He moved to the private sector in 2019. For this April 2021 Lessons Learned interview, he emphasized that these are his ...


Lessons Learned: Kieran J. Fallon, Matthew A. Lieber 2022 Yale University

Lessons Learned: Kieran J. Fallon, Matthew A. Lieber

Journal of Financial Crises

Presently the senior deputy general counsel for regulation and government affairs at PNC Fi-nancial Services Group, Kieran Fallon completed a 16-year tenure in the legal division of the Board of Governors of the Federal Reserve System in 2011. As associate general counsel dur-ing the Global Financial Crisis (GFC), he helped design the Federal Reserve’s Commercial Pa-per Funding Facility, restructure American International Group (AIG), and implement the Dodd-Frank Act. Relatedly, Fallon also served as general counsel for the Financial Stability Oversight Board from 2008 to 2011. This Lessons Learned is based on an interview conducted with Fallon on August 13 ...


Lessons Learned: Steven B. Kamin, Yasemin Sim Esmen 2022 Yale University

Lessons Learned: Steven B. Kamin, Yasemin Sim Esmen

Journal of Financial Crises

Steven B. Kamin was the deputy director of the division of international finance at the Federal Reserve Board during the Global Financial Crisis (GFC) and was appointed director in 2011. He was responsible for research, policy analysis, and reporting in the areas of foreign economic activity, US external trade and capital flows, and developments in international financial markets and institutions. This Lessons Learned is based on an interview conducted with Kamin on August 16, 2019.


Lessons Learned: Seth Carpenter, Maryann Haggerty 2022 Yale University

Lessons Learned: Seth Carpenter, Maryann Haggerty

Journal of Financial Crises

Seth Carpenter was a senior staff member of the Division of Monetary Affairs at the Federal Reserve Board during the 2007–09 Global Financial Crisis (GFC), meaning he was part of the team that advised the Board of Governors and members of the Federal Open Market Committee (FOMC) in setting monetary policy. He led the Board team that worked daily with the Open Market Trading Desk at the Federal Reserve Bank of New York to implement policy. He left the Federal Reserve System as deputy director of monetary affairs in 2014 to work at the US Department of the Treasury ...


Lessons Learned: Tim Clark, Lynnley Browning 2022 Yale University

Lessons Learned: Tim Clark, Lynnley Browning

Journal of Financial Crises

During the Global Financial Crisis of 2007–09, Tim Clark was senior adviser in the Division of Banking Supervision and Regulation at the Board of Governors of the Federal Reserve System. Clark was a chief architect of the Federal Reserve’s capital and liquidity stress tests that helped to stabilize the banks. He was also one of the leaders behind the implementation of the Dodd-Frank Act and other reforms at the Federal Reserve, and ultimately served as deputy director of the Division for Supervision and Regulation. This abstract is based on an interview with Clark that occurred on December 13 ...


The Internal Capital Markets Of Global Dealer Banks, Arun Gupta 2022 Federal Reserve System: Board of Governors

The Internal Capital Markets Of Global Dealer Banks, Arun Gupta

Journal of Financial Crises

This study uncovers the existence of a trillion-dollar internal capital market that played a central role in the financing of dealer banks during the 2007–09 Global Financial Crisis. Hand-collecting a novel set of dealer microdata at the subsidiary level, I present a unique set of facts on the evolution of inter-affiliate loans between US primary dealers and their (primarily foreign) siblings. First, the aggregate size of these dealer internal capital markets quadrupled from $335 billion in 2001 to $1.2 trillion by 2007. Second, 25 percent of total repurchase agreements and 62 percent of total securities lending reported on ...


Lessons Learned: John Bovenzi, Sandra Ward 2022 Yale University

Lessons Learned: John Bovenzi, Sandra Ward

Journal of Financial Crises

As a deputy to the chairman of the Federal Deposit Insurance Corporation (FDIC) and in his role as chief operating officer of the agency, John Bovenzi provided policy advice and oversaw the agency’s operations, including business lines, bank supervision, bank closings, deposit insurance, and administrative affairs. Bovenzi’s most notable role during the Global Financial Crisis was manning the helm of mortgage lender IndyMac after the FDIC took it over in July 2008 to position it for a sale. This abstract is based on an interview with Bovenzi conducted on December 2, 2020


Managing External Volatility: Policy Frameworks In Non-Reserve-Issuing Economies, Hélène Poirson, Nathan Porter, Ghada Fayad, Itai Agur, Ran Bi, Jiaqian Chen, Johannes Eugster, Stefan Laseen, Jeta Menkulasi, Kenji Moriyama, Céline Rochon, Katsiaryna Svirydzenka, Camilo Tovar, Zhongxia Zhang, Aleksandra Zdzienicka 2022 International Monetary Fund

Managing External Volatility: Policy Frameworks In Non-Reserve-Issuing Economies, Hélène Poirson, Nathan Porter, Ghada Fayad, Itai Agur, Ran Bi, Jiaqian Chen, Johannes Eugster, Stefan Laseen, Jeta Menkulasi, Kenji Moriyama, Céline Rochon, Katsiaryna Svirydzenka, Camilo Tovar, Zhongxia Zhang, Aleksandra Zdzienicka

Journal of Financial Crises

Since the Global Financial Crisis, non-reserve-issuing economies (NREs) have been highly sensitive to episodes of external pressures. With monetary policy independence constrained by this sensitivity, many NREs have utilized other policy instruments. This paper confirms the vulnerability of NREs to external shocks and finds that, in some circumstances, managing such shocks with multiple instruments can both lessen the policy response required from any one policy tool to financial and external shocks and increase the effectiveness of policies in stabilizing macrofinancial conditions. Effectiveness, however, does not always imply appropriateness, which rests on an evaluation of potential trade-offs and unintended consequences.


From Lost Turnover To Nonperforming Loans: The Impact Of The Covid-19 Pandemic On The Economy And On The Financial System, Antonio Sánchez Serrano 2022 European Systemic Risk Board

From Lost Turnover To Nonperforming Loans: The Impact Of The Covid-19 Pandemic On The Economy And On The Financial System, Antonio Sánchez Serrano

Journal of Financial Crises

The COVID-19 pandemic created an unprecedented economic shock across the world. As a result of the coronavirus outbreak and the related health measures, nonfinancial corporations providing nonessential goods or services that cannot be consumed remotely have experienced a large decrease in their turnover. Using balance sheets and flows statements, we are able to quantify the impact of the pandemic on nonfinancial corporations and households, according to several scenarios for the pandemic over 2021. The impact is largely heterogeneous across sectors and amounts to up to 20% of the turnover for euro area nonfinancial corporations. Stress in these corporations and households ...


Financial Crises And Legislation, Peter Conti-Brown, Michael Ohlrogge 2022 University of Pennsylvania Wharton School of Business, and The Brookings Institute

Financial Crises And Legislation, Peter Conti-Brown, Michael Ohlrogge

Journal of Financial Crises

Scholars frequently assert that financial legislation in the United States is primarily crisis driven. This “crisis-legislation hypothesis” is often cited as an explanation for various supposed shortcomings of US financial legislation, including that it is poorly conceived and inadequate to the problems it aims to address. Other scholars embrace the hypothesis, but from the perspective that crises are the needed impetus to prompt constructive reforms. Despite the prevalence of this hypothesis, however, its threshold assumption—that Congress passes major financial legislation only when financial crises arise—has never been analyzed empirically. This article provides that analysis. We first devise a ...


Collation Model For Ms. Codex 1237: [Notarial Documents], Dot Porter 2022 University of Pennsylvania

Collation Model For Ms. Codex 1237: [Notarial Documents], Dot Porter

Collation Models

A collection of 16 notarial documents dealing with property and political matters, including real estate, wills, and elections, for the city of Piacenza, Italy. The documents, originally separate, are several different sizes.Written in Piacenza, Italy, 1457-1546.


Collation Model For Ms. Codex 1048: Comptes Adrien De Le Borve, Dot Porter 2022 University of Pennsylvania

Collation Model For Ms. Codex 1048: Comptes Adrien De Le Borve, Dot Porter

Collation Models

Accounts received from the provinces of Viane and Morbecque in Flanders. Written in Flanders, 1484-1485 (f. 2r).


Financial Wellbeing Of Working Canadians, Michael Ritacco 2022 Western University

Financial Wellbeing Of Working Canadians, Michael Ritacco

Undergraduate Student Research Internships Conference

The National Payroll Institute (NPI) conducts an annual survey to measure the financial situation of their members. Using this data, the Financial Wellness Lab (FWL) then analyzes and applies advanced machine learning techniques to gain meaningful insights on the respondents. Of the many areas the FWL investigates regarding this data, the primary focus is identifying similar groups of individuals (clusters), and how these groups differ from one another. Aspects such as financial residency, savings, spending, and debt all play an important role in differentiating between these groups, and also play a role in financial wellbeing. Since this survey has been ...


Responding To Financial Stress For Agricultural Producers And Couples, Jacob D. Gossner, Elizabeth B. Fauth, Tasha Howard 2022 Utah State University

Responding To Financial Stress For Agricultural Producers And Couples, Jacob D. Gossner, Elizabeth B. Fauth, Tasha Howard

All Current Publications

Finances are a necessary component of running an agricultural production and with an uncertain economy, drought conditions, and rising costs, financial stress is increasingly common. Although financial stress is linked with poor individual and relationship outcomes, research suggests that there are effective ways to manage financial stress so that it does not reduce personal or relationship well-being. We review the body's response to stressors and how to respond rather than react to stress. We present specific strategies couples can use to navigate financial stress together. We include ideas for practical application for individuals seeking to improve the way they ...


Digital Commons powered by bepress