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Inside the Black Box: What Explains Differences in the Efficiencies of Financial Institutions?
Over the past several years, substantial research effort has gone into measuring the efficiency of financial institutions. Many studies have found that inefficiencies are quite huge, on the order ofExpand
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A study of bank efficiency taking into account risk-preferences
Abstract I use the stochastic cost frontier approach to investigate efficiency of banks operating in the Third Federal Reserve District, accounting for the quality and riskiness of bank output. InExpand
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Measuring efficiency at U.S. banks: Accounting for heterogeneity is important
Estimates of bank cost efficiency can be biased if bank heterogeneity is ignored. The author compares X-inefficiency measures derived from a model that constrains the cost frontier to be the same forExpand
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Efficiency in the savings and loan industry
Abstract The stochastic econometric cost frontier approach is modified to investigate efficiency in mutual and stock S & Ls using 1991 data on U.S. S & Ls. This methodology allows both the costExpand
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Consumer Behavior and the Stickiness of Credit Card Interest Rates
During several episodes of declining or rising interest rate changes in the 1980s and 1990s, credit card rates changed little. At the same time, credit cards consistently earned higher returns thanExpand
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Explaining the Dramatic Changes in Performance of U.S. Banks: Technological Change, Deregulation, and Dynamic Changes in Competition
The authors investigate the effects of technological change, deregulation, and dynamic changes in competition on the performance of U.S. banks. The authors' most striking result is that duringExpand
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Deposits and Relationship Lending
The authors empirically examine the hypothesis that access to deposits with inelastic rates (core deposits) permits a bank to make contractual agreements with borrowers that are infeasible if theExpand
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Inside the Black Box: What Explains Differences in the Efficiencies of Financial Institutions?
Over the past several years, substantial research effort has gone into measuring the efficiency of financial institutions. Many studies have found that inefficiencies are quite large, on the order ofExpand
  • 238
  • 28
Explaining The Dramatic Changes In Performance Of U.S. Banks: Technological Change, Deregulation, And Dynamic Changes In Competition
We investigate the effects of technological change, deregulation, and dynamic changes in competition on the performance of U.S. banks. Our most striking result is that during 1991-1997, costExpand
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What's the point of credit scoring?
Credit scoring is already widely used for consumer lending and is becoming more commonly used in mortgage lending. Now, small business lending is getting into the scoring act. What does this mean forExpand
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