creator: Baum, Christopher F
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A review of Stata 8.1 and its time series capabilities
collectiondate- – 2003-10-01
- – application/pdf
Re-examining the Transmission of Monetary Policy: What More Do a Million Observations Have to Say
description- – In this paper we re-examine banks' lending behavior taking into account changes in the stance of monetary policy in conjunction with changes in financial sector uncertainty. Using a very large data set covering all banks in the US between 1979--2000, we show that financial sector uncertainty plays an important role in banks' lending decisions: for a given size classification, less liquid banks (and generally smaller banks) lend proportionally more than stronger counterparts in times of higher uncertainty. More importantly, we provide conclusive evidence that the bank lending channel is either nonexistent or at best not very important for the U.S.
- – WP561
- – 2004-09-01
- – application/pdf
Stata: the language of choice for time series analysis?
description- – This paper discusses the use of the Stata statistical package for the analysis of time-series and panel data.
- – stata 6
- – 2004-07-26
- – application/pdf
Securities Fraud Class Actions and Corporate Governance: New Evidence on the Role of Merit
description- – We examine the relationship between outcomes of securities fraud class action lawsuits and board turnover rates. Our results indicate that the outcome of a class action is a good indicator of the underlying, unobservable merit of the action. Consistent with the merit hypothesis, board turnover rates are higher in the period following the filing of a lawsuit that is ultimately settled than one that is dismissed. Turnover propensities are more sensitive to outcome for CEOs and for individuals named as defendants in the lawsuits. Turnover rates of both inside and outside directors are higher when external equity ownership is more concentrated.
- – WP664
- – 2007-04-28
- – application/pdf
Political patronage in Ukranian banking
description- – This paper empirically investigates the link between political patronage and bank performance for Ukraine during 2003Q3-2005Q2. We find significant differences between politically affiliated and non-affiliated banks. We present evidence that affiliated banks have significantly lower interest margins. Politically affiliated banks also seem to increase their capital ratio. We conjecture that the reason behind these behavioral differences is to attract foreign investors; we report several mergers that recently took place between affiliated and foreign banks.
- – WP657
- – 2007-02-13
- – application/pdf
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