Recent empirical evidence shows that price‐cost margins in the market for bank credit are
countercyclical in the US economy and that this cyclical behavior can be explained in part …

We study the determinants of the cyclical behavior of banks' price‐cost margins in the
United States banking sector, using time series quarterly data for the period 1979–2005. We …

In this article, the authors propose a comprehensive framework for simultaneously allocating
assets among active, passive, and factor investments while accounting for the uncertainty in …

Administrative data from North Carolina are used to explore the extent to which that state's
relatively sophisticated school‐based accountability system has exacerbated the challenges …

We show that price–cost margins for US banks are consistently countercyclical, even after
controlling for credit risk, the term structure of interest rates and monetary policy. This …

In this paper we study the role of bank capital adequacy requirements in the transmission of
aggregate productivity shocks. We identify a gap between the empirical and the theoretical …

We quantify the time-varying effects of oil-price shocks on the US economy, Federal Reserve
policy, and global equity markets. While the first-round impact of oil-price shocks on US …

The accuracy of US stock return forecasts based on the cyclically-adjusted P/E (CAPE) ratio
has deteriorated since 1985. The issue is not the CAPE ratio, but CAPE regressions that …

The recent world energy crisis raises serious questions about the extent to which the United
States should increase domestic oil production and develop alternative sources of energy. …

Standard models of the Bank Lending Channel are unable to yield predictions on the
differential impact of monetary policy shocks over heterogeneous borrowers. This inability has …