MBA641FinancialInstitutionsAndMarkets

Datasets

1.	Global Data
2.	Bills, Bonds, Stocks, Inflation.
3.	Variety in Consumer Choice
4.	Bond Market Profile
5.	U.S. Futures and Options Markets
6.	Stock Market Bubbles
7.	One Hundred Largest Companies, 2004
8.	One Hundred Largest Companies, 2003
9.	One Hundred Largest Companies, 2001
10.	One Hundred Largest Companies, 1998
11.	One Hundred Largest Companies, 1995
12.	U.S. Small Business Profile
13.	Risk and Growth
14.	East Europe Per Capita GDP 1997
15.	Economic Freedom and Corruption
16.	2001 Corruption Perceptions Index
17.	Prisoner’s Dilemma
18.	Union Membership in the U.S.
19.	International Health Care
20.	Education and Income
21.	Energy Efficiency
22.	U.S. Agriculture
23.	Corruption and Economic Development
24.	Corruption Perceptions Index 2001
25.	Africa Data
26.	Human Development Index 2004
27.	Generosity Index 2004
28.	The Ranking of Risk

Application Modules

1.	Economic Functions of the Public Sector,
2.	Circular Flow Diagram
3.	The Measurement of Risk
4.	Simple Regression
5.	Regression Supply and Demand
6.	Introductory Price Elasticity
7.	Price Elasticity Profiles
8.	Engel Curves
9.	The Cobb Douglas Production Function
10.	Cost Analysis
11.	The CES Production Function
12.	Static Market Equilibrium
13.	Strategic Convergence
14.	The Cobweb Model
15.	Excise Taxation
16.	Random Demand Profit Maxima
17.	Price Discrimination
18.	Market Structures
19.	Concentration Ratios
20.	The Kinked Demand Curve Model
21.	Market Structure and Conduct
22.	Oligopoly Models
23.	Optimal Resource Pricing
24.	Joint Optimum Input Use
25.	Labor Market Determination
26.	Fundamentals of Finance
27.	Optimal Investment Storage
28.	Exhaustible Resource Model
29.	Optimal Investment Decisions
30.	The Cobweb Model
31.	The Leontief Static IO Model
32.	Externalities
33.	The Basic Option Price Model
34.	Income Differentials
35.	The Gini Inequality Model
36.	Voting Systems
37.	Value At Risk Models
38.	Risk and Pension Reform
39.	Efficient Portfolio Decisions

Classroom Case Studies

1.	Basic Supply and Demand
2.	Cobb-Douglas Utility Function
3.	Own Price Elasticity of Demand
4.	The Total Revenue Test
5.	Engel Curves and the Income Elasticity of Demand
6.	Variable Inputs in Production
7.	Production and Cost Functions
8.	Basic Economic Efficiency
9.	Basic Market Dynamics
10.	Economics of Excise Taxes
11.	Trade and Tariff Economics;
12.	Optimal Excise Taxation
13.	Pure Monopoly
14.	Competition and Monopoly
15.	Price Discrimination
16.	The Multi-Product Monopoly Model
17.	The Cournot Duopoly Model
18.	Monopolistic Competition
19.	Profit Maximization Under Risk
20.	Strategic Behavior of Firms
21.	Commodity Stabilization Models
22.	Optimal Pricing of Exhaustible Resources
23.	The Harrod-Domar Growth Model
24.	Project Financial Analysis
25.	The Am Djena Livestock Project
26.	Income Distribution

Course Reserve Readings

Allen, Franklin, and Douglas Gale (2004), "Financial Intermediaries and Markets," Econometrica 72:4 (July), pp. 1023-1061.

Allen, Franklin, and Douglas Gale (2000), "Financial Contagion," Journal of Political Economy, 108:1 (February), pp. 1-33.

Allman, William F. (1985), "Determining Risks with Statistics - and with Humanity," Science 85/Baltimore Sun, October 13, 1985, p. 50

Anderson, Richard G. (2003), "Retail Deposit Sweep Programs: Issues for Measurement, Modeling, and Analysis," Working Paper 2003-026A, Federal Reserve Bank of St. Louis (September), pp. 1-13.

Andritzky, Jochen and Manmoham Singh (2006), "The Pricing of Credit Default Swaps During Distress," WP/06/254, (Washington, D.C.: IMF, November), pp. 1-25.

Arrow, Kenneth J. (1969), "The Organization of Economic Activity: Issues Pertinent to the Choice of Market versus Non-Market Activity," in Mansfield Readings, pp. 437-455.

Banarjee, Abhijit V. (1992), "A Simple Model of Herd Behavior," Quarterly Journal of Economics, 107:3 (August), pp. 797-817.

Bansal, Ravi, and Amir Yaron (2004), "Risks for the Long Run: A Potential Resolution of Asset Pricing Puzzles," Journal of Finance, 59:4 (August), ppp. 1481-1509.

Barth, James R. (1999). "The S&L Crisis, 10 Years Later: Government Errors Caused the Problems and They Still Do," The Milken Institute Review (September), pp. 1-2.

Basurto,Miguel A. Segoviano and Pablo Padilla (2006), "Portfolio Credit Risk and Macroeconomic Shocks: Applications to Stress Testing Under Data-Restricted Environments," WP/06/283 (Washington, D.C.: IMF), pp. 1-52.

Basurto, Miguel A. Segoviano, Charles Goodhart, andBoris Hofmann (2006), "Default, Credit Growth, and Asset Prices," WP/06/223 (Washington, D.C.: IMF), pp. 1-44.

Bator, Francis M. (1958). "The Anatomy of Market Failure," Quarterly Journal of Economics 72:3 (August), pp. 351-379.

Bertaut,Carol C. William L. Griever, and Ralph W. Tryon (2004), "Understanding U.S. Cross-Border Securities Data," Federal Reserve Bank of New York Quarterly Review (Winter), pp. A59-A75.

Bikhchandani, Sushil, David Hirshleifer,and Ivo Welch (1992), "A Theory of Fads,Fashion, Custom, and Cultural Change in Informational Cascades," Journal of Political Economy, 100:5 (October), pp. 992-1026.

Blanchard, Olivier (2008), "The Tasks Ahead," WP/08/262, (Washington, D.C.: IMF), pp. 1-10.

Bond, Philip (2004), "Bank and Nonbank Financial Intermediation," Journal of Finance, 59:6 (December), pp. 2489-2529.

Brunnermeier, Markus K., and Stefan Nagel (2004), "Hedge Funds and the Technology Bubble," Journal of Finance, 59:5 (October), pp. 2013-2040.

Chambers, Matthew S., Carlos Garriga, andDon Schlagenhauf (2008), "Mortgage Innovation, Mortgage Choice, and Housing Decisions," Federal Rerserve Bank of St. Louis Review, 90:6 (November/December), pp. 585-608.

Chan-Lau, Jorge A., Srobona Mitra, and Li Lian Ong (2007), "Contagion Risk in the International Banking System and Implications for London as a Global Financial Center," WP/07/74, (Washington, D.C.: IMF), pp. 1-48.

Cicchetti,Stephen G., Rita S. Chu, and Charles Steindel (2000), "The Unreliability of Inflation Indicators," Current Issues in Economics and Finance, Federal Reserve Bank of New York (April), pp. 1-6.

Cipriani, Marco,and Antonio Guarino (2005), "Herd Behavior in a Laboratory Financial Market," American Economic Review, 95:5 (December), pp. 1427-1443.

Coase,Ronald H. (1960), "The Problem of Social Cost," Journal of Law and Economics, (October), pp. 1-44.

Congressional Budget Office (2008), Economic Recovery Act of 2008, (Washington, D.C.: Congressional Budget Office).

Congressional Budget Office (1994), "The Changing Business of Banking: A Study of Failed Banks from 1987 to 1992," (Washington, D.C.: U.S. Congressional Budget Office, June), pp. 1-88.

Conlisk, John (1996), "Why Bounded Rationality?" Journal of Economic Literature XXIV:2 (June), pp. 669-700.

Coughlin, Cletus, Alec Chrystal, and Geoffrey E. Wood (1988), "Protectionist Trade Policies: A Survey of Theory Evidence, and Rationale," Federal Reserve Bank of St. Louis Review (January/February), pp. 12-30.

Das,Udaibir S., Michael G. Papaioannou, and Magdalena Polan (2008), "Stragtegic Considerations for First-Time Sovereign Bond Issuers," WP/08/261, (Washington, D.C.: IMF), pp. 1-29.

Defwenberg,Martin,Tobias Lindqvist, and Evan Moore (2005), "Bubbles and Experience: An Experiment," American Economic Review, 95:5 (December), pp. 1731-1737.

Dixit, Avinash, and Robert Pindyck (1994), Investment Under Uncertainty (Princeton, N.J.: Princeton University Press).

Duca, John V. (2001), "The Democratization of America's Capital Markets", Economic and Financial Review, Federal Reserve Bank of Dallas (second quarter), pp. 10-19.

Edwards, Franklin R., and Frederic S. Mishkin (1995), "The Decline of Traditional Banking: Implications for Stability and Regulatory Policy," Economic Policy Review, Federal Reserve Bank of New York (July), pp. 27-45.

Einarrson, Tor, and Milton H. Marquis (2002), "Banks, Bonds, and the Liquidity Effect," Economic Review, Federal Reserve Bank of San Francisco, pp. 35-50.

Engel, Charles (2001), "Optimal Exchange Rate Policy: The Influence of Price Setting and Asset Markets," Journal of Money, Credit and Banking, 33:2 , pt. 2 (May), pp. 518-541.

Estrella, Arturo, and Mary R.Trubin (2006), "The Yield Curve as a Leading Indicator: Some Practical Issues," Current Issues, Federal Reserve Bank of New York (July/August), pp. 1-8.

Eubanks, Walter W. (2004), "The Condition of the Banking Industry," CRS Report RL32542, (Washington,D.C.: Congressional Research Service, August 24), pp. 1-12.

Federal Reserve Board of Governors (2008), "Flow of Funds Accounts of the United States," Third Quarter 2008. (Washington,D.C.: Federal Reserve Bank), pp. 1-124.

Friedman, Milton (1970), "A Theoretical Framework for Monetary Analysis," Journal of Political Economy, 78:2 (March-April), pp. 193-238.

Friedman, Milton, and Leonard J.Savage (1948), "The Utility Analysis of Choices Involving Risk," Journal of Political Economy 56:4 (August), pp. 279-304.

Hayford, Marc D., and A.G. Malliaris (2005), "Recent Monetary Policy in the U.S.: Risk Management of Asset Bubbles," SSRN.

Holmstrom, Bengt,and John Roberts (1998), "The Boundaries of the Firm Revisited," Journal of Economic Perspectives 12:4 (Fall), pp. 73-94.

Jeanne, Olivier, and Romain Ranière (2006),"The Optimal Level of International Reserves for Emerging Market Countries: Formulas and Applications," WP/06/229, (Washington, D.C.: IMF), pp. 1-35.

Kahn, Charles, and Andrew Winton (2004), "Moral Hazard and Optimal Subsidiary Structure for Financial Institutions," Journal of Finance, 59:6 (December), pp. 2531-2575.

Kambhu, John, Til Schuermann, and Kevin J.Stiroh (2007), "Hedge Funds, Financial Intermediation, and Systemic Risk," Economic Policy Review, Federal Reserve Bank of New York, pp. 1-18.

Keeton, William R. (2001), "The Transformation of Banking and Its Impact on Consumers and Small Businesses," Economic Review,Federal Reserve Bank of Kansas City (winter), pp. 1-29.

Kiyotaki, Nobuhiro, and John Moore (1997), "Credit Cycles," Journal of Political Economy 105:2 (April), pp. 211-248.

LeBel,Phillip (2000). "Asset Bubbles and Moral Hazard: Evidence from Japan," Paper presented at the Third InternationalConference on Global Business and Development, Beijing, China (June), pp. 1-27.

McCandless,George T., and WarrenE.Weber (1995), "Some Monetary Facts," Quarterly Review, Federal Reserve Bank of Minneapolis, 19:3 (summer), pp. 2-11.

Merton, robert C. (1998), "Applications of Option-Pricing Theory: Twenty-Five Years Later," American Economic Review, 88:3 (June), pp. 323-349.

Morgan, Donald P., Benjamin Iverson, and Matthew Botsch (2008), "Seismic Effects of the Bankruptcy Reform," Staff Report No. 358, Federal Reserve Bank of New York (November), pp. 1-30.

Pappaioannou, Michael (2006), "Exchange Rate Risk Measurement and Management: Issues and Approaches for Firms," WP/06/255, (Washington, D.C.: IMF), pp. 1-22.

Poole,William (2007), "The GSE's: Where Do We Stand?" Federal Reserve Bank of St. Louis Review (May/June), pp. 143-151.

Quartner, David (2006), "Public Choice Theory, Protectionism, and The Case of NAFTA," Institute of Economic Affairs,pp. 1-2.

Ramsey, Frank P. (1927), "A Contribution to the Theory of Taxation," The Economic Journal 37:145 (March), pp. 47-61.

Samuelson, William (1984), "Bargaining Under Asymmetric Information," Econometrica 52:4 (July), pp. 995-1007.

Santos, Manuel S., and Michael Woodford,"Rational Asset Pricing Bubbles," Econometrica 65:1 (January), pp. 19-57.

Simon, Herbert A. (1959), "Theories of Decision-Making in Economics and Behavioral Science," American Economic Review,

Stiglitz, Joseph E. (1987), "The Causes and Consequences of the Dependence of Quality on Price," Journal of Economic Literature 25 (March), pp. 1-148.

Wallison, peter J. (2008), "Systemic Risk and the Financial Crisis," AEI Policy Paper, (Washington, D.C.: AEI, October), pp. 1-5.

Wheelock, David C. (2008), "Changing the Rules: State Mortgage Foreclosure Moratoria During the Great Depression," Federal Reserve Bank of St. Louis Review, 90:3, pt. 1 (May/June), pp. 133-148.

White, Lawrence J. (2005), "On Truly Privatizing Fannie Mae and Freddie Mac: Why It's Important, and How to Do It," University of Pennsylvania Conference Paper, June 2005.

Internet Sources: