This essay explores the hypothesis that international banks tend to assume excessive
exposure to insolvency. It builds on a framework developed in an earlier paper (Guttentag and …

We develop a model of lender behavior in the presence of default risk and moral hazard
that determines default premiums and identifies the conditions under which borrowers are …

The central focus of the paper is variability in cash reserve ratios. We will show that: a)
Fluctuations in bank reserve ratios have a significantly greater impact on total intermediary credit …

… 68; for an extended analysis of this point, see Guttentag and Herring, 1982a). An LLR
may have … For a more general treatment of this phenomenon, see Guttentag and Herring (1982b). …

3 Burns and Mitchell describe their rule as follows [2, p. 58]:" The lower limit of the range of
amplitudes of all fluctuations that we class confidently as specific cycles is our rough guide in …

This paper develops a procedure for calculating the internal yield on a discounted mortgage.
The procedure uses an estimate of the entire distribution of termination probabilities …

One important strand of the new theory of monetary control (sometimes called the" avail-ability
doctrine") is the argument that the effectiveness of monetary policy does not depend …

Strategy of Open Market Operations* | The Quarterly Journal of Economics | Oxford Academic
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We develop general principles to guide the compulsory public disclosure of information
about the financial condition of banks and apply these principles to three issues of particular …

IN A RECENT ARTICLE in this Journal, Douglas Hellweg argues that" by eliminating
compensatory balance requirements, a bank can en-large its own earnings while at the same time …