This paper provides a detailed examination of the cost imposed by thrift institutions resolved
during the period 1980–1988. A simple model is presented to explain the cost of resolution. …

This article studies strategic default—the willingness of a borrower to walk away from a
mortgage when the value of the home falls below the unpaid principal balance despite an ability …

This paper examines the temporal relationship between interest rates on Treasury securities
ranging in maturity from three months to 30 years. We find strong empirical support that the …

The thrift risk-based capital regulation assigns weights to various asset categories according
to their perceived credit risk. The risk-based capital requirement is 8% of these risk-…

IN THE WAKE OF ADVERSE DEVELOPMENTS in the thrift industry, analysts and policymakers
alike have questioned the continued need for specialized federally insured institutions to …

This paper investigates how individual choice is affected by increases in risk when the choice
variable (instrument) affects the distribution of the random variable as well as the objective …

Two approaches are often used to analyse the effects of uncertainty upon individual decision
making. The comparative equilibrium approach compares an uncertain model with a …

Monetary policy involves the Federal Reserve's use of select policy instruments to influence
general economic conditions. Of the major policy instruments (required reserve ratios, the …

… BARTH is Director of the Office of Policy and Economic Research, Federal Home Loan Bank
Board, Washington, DC MICHAEL G. BRADLEY is a financial economist in the same office. …

This paper seeks to determine to what extent differences in the composition of asset holding
in 1976 among a fairly homogeneous group of young married couples can be explained by …