Details about Richard Rosen

Workplace:

Economic Research Department, Federal Reserve Bank of Chicago, (more information at EDIRC)

Access statistics for papers by Richard Rosen.

Last updated 2024-05-06. Update your information in the RePEc Author Service.

Short-id: pro645

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Working Papers

2021

1. Climate Change and Financial Stability
   FEDS Notes, Board of Governors of the Federal Reserve System (U.S.) View citations (6)

2019

2. Macroprudential Policy: Results from a Tabletop Exercise
   Working Papers, Federal Reserve Bank of Cleveland View citations (1)

2016

3. Measuring Interest Rate Risk in the Life Insurance Sector: The U.S. and the U.K
   Working Paper Series, Federal Reserve Bank of Chicago View citations (5)
4. The Life Insurance Industry and Systemic Risk: A Bond Market Perspective
   Working Paper Series, Federal Reserve Bank of Chicago View citations (2)
   See also Journal Article The Life Insurance Industry and Systemic Risk: A Bond Market Perspective, Annual Review of Financial Economics, Annual Reviews (2016) View citations (2) (2016)

2013

5. Why do borrowers make mortgage refinancing mistakes?
   Working Paper Series, Federal Reserve Bank of Chicago View citations (4)

2011

6. Are covered bonds a substitute for mortgage-backed securities?
   Working Paper Series, Federal Reserve Bank of Chicago View citations (3)
   See also Journal Article Are covered bonds a substitute for mortgage-backed securities?, Journal of Economic Policy Reform, Taylor and Francis Journals (2017) (2017)
7. The originate-to-distribute model and refi waves
   Proceedings, Federal Reserve Bank of Chicago

2010

8. The impact of the originate-to-distribute model on banks before and during the financial crisis
   Working Paper Series, Federal Reserve Bank of Chicago View citations (7)

2009

9. Too much right can make a wrong: Setting the stage for the financial crisis
   Working Paper Series, Federal Reserve Bank of Chicago View citations (1)
   See also Chapter Too Much Right Can Make a Wrong: Setting the Stage for the US Financial Crisis, Palgrave Macmillan Books, Palgrave Macmillan (2010) View citations (2) (2010)

2008

10. The role of lenders in the home price boom
    Working Paper Series, Federal Reserve Bank of Chicago View citations (1)

2007

11. How the credit channel works: differentiating the bank lending channel and the balance sheet channel
    Working Paper Series, Federal Reserve Bank of Chicago View citations (8)

2006

12. Eat or be eaten: a theory of mergers and firm size
    Working Paper Series, Federal Reserve Bank of Chicago View citations (1)
    See also Journal Article Eat or Be Eaten: A Theory of Mergers and Firm Size, Journal of Finance, American Finance Association (2009) View citations (73) (2009)
13. Housing price changes
    Proceedings, Federal Reserve Bank of Chicago
14. Mergers and risk
    Working Paper Series, Federal Reserve Bank of Chicago View citations (6)

2005

15. Does Market Size Structure Affect Competition? The Case of Small Business Lending
    CEI Working Paper Series, Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University View citations (8)
    See also Journal Article Does market size structure affect competition? The case of small business lending, Journal of Banking & Finance, Elsevier (2007) View citations (130) (2007)
16. Eat or Be Eaten: A Theory of Mergers and Merger Waves
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (23)
17. Why do firms go public? evidence from the banking industry
    Working Paper Series, Federal Reserve Bank of Chicago View citations (15)

2004

18. Betcha can’t acquire just one: merger programs and compensation
    Working Paper Series, Federal Reserve Bank of Chicago View citations (4)
19. Merger momentum and investor sentiment: the stock market reaction to merger announcements
    Working Paper Series, Federal Reserve Bank of Chicago View citations (2)
    See also Journal Article Merger Momentum and Investor Sentiment: The Stock Market Reaction to Merger Announcements, The Journal of Business, University of Chicago Press (2006) View citations (83) (2006)

2003

20. Banking market conditions and deposit interest rates
    Working Paper Series, Federal Reserve Bank of Chicago View citations (7)
    See also Journal Article Banking market conditions and deposit interest rates, Journal of Banking & Finance, Elsevier (2007) View citations (19) (2007)

2002

21. Is three a crowd? competition among regulators in banking
    Proceedings, Federal Reserve Bank of Chicago View citations (1)
    See also Journal Article Is Three a Crowd? Competition among Regulators in Banking, Journal of Money, Credit and Banking, Blackwell Publishing (2003) View citations (25) (2003)
22. The choice of regulators in banking
    Proceedings, Federal Reserve Bank of Chicago

2001

23. Do regulators search for the quiet life? the relationship between regulators and the regulated in banking
    Working Paper Series, Federal Reserve Bank of Chicago View citations (6)
24. The effect of market size structure on competition: the case of small business lending
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (18)
    Also in Working Paper Series, Federal Reserve Bank of Chicago (2001) View citations (18)
25. The effects of banking market size structure on bank competition: the case of small business lending
    Proceedings, Federal Reserve Bank of Chicago View citations (3)

1999

26. The relationship between mergers and CEO compensation in large banks
    Proceedings, Federal Reserve Bank of Chicago

1997

27. Regulatory competition: why do banks change regulators?
    Proceedings, Federal Reserve Bank of Chicago

1995

28. Banks and Derivatives
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (62)
    Also in Working Papers, Federal Reserve Bank of Philadelphia (1995) View citations (59)
    Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research View citations (64)
    Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania (1995) View citations (59)
    Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research View citations (59)
    See also Chapter Banks and Derivatives, NBER Chapters, National Bureau of Economic Research, Inc (1995) View citations (62) (1995)

1994

29. Corporate Control, Portfolio Choice, and the Decline of Banking
    Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania View citations (4)
    Also in Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research View citations (1)
    NBER Working Papers, National Bureau of Economic Research, Inc (1992) View citations (12)
    Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research View citations (3)
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (1992) View citations (33)
    See also Journal Article Corporate Control, Portfolio Choice, and the Decline of Banking, Journal of Finance, American Finance Association (1995) View citations (247) (1995)

1993

30. What goes up must come down? Asymmetries and persistence in bank deposit interest rates
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (3)

1992

31. The size of the banking industry and managerial entrenchment
    Proceedings, Federal Reserve Bank of Chicago

1991

32. Risk and capitalization in banking
    Proceedings, Federal Reserve Bank of Chicago View citations (8)

1988

33. New banking powers: a portfolio analysis of bank investment in real estate
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (1)
    See also Journal Article New banking powers: A portfolio analysis of bank investment in real estate, Journal of Banking & Finance, Elsevier (1989) View citations (11) (1989)
34. Research and development with asymmetric firm sizes
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (4)
    See also Journal Article Research and Development with Asymmetric Firm Sizes, RAND Journal of Economics, The RAND Corporation (1991) View citations (69) (1991)

1983

35. Uncertainty, Welfare Cost, and the 'Adaptability' of U.S. Corporate Taxes
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)

Journal Articles

2022

1. Correction to: Exposure to catastrophe risk and use of reinsurance: an empirical evaluation for the U.S
   The Geneva Papers on Risk and Insurance - Issues and Practice, 2022, 47, (1), 203-203
2. Exposure to catastrophe risk and use of reinsurance: an empirical evaluation for the U.S
   The Geneva Papers on Risk and Insurance - Issues and Practice, 2022, 47, (1), 103-124 View citations (2)

2019

3. Homeowners’ Financial Protection Against Natural Disasters
   Chicago Fed Letter, 2019

2018

4. The Risks of Pricing New Insurance Products: The Case of Long-Term Care
   Chicago Fed Letter, 2018 View citations (1)

2017

5. Are covered bonds a substitute for mortgage-backed securities?
   Journal of Economic Policy Reform, 2017, 20, (3), 238-253
   See also Working Paper Are covered bonds a substitute for mortgage-backed securities?, Working Paper Series (2011) View citations (3) (2011)
6. How Much Risk Do Variable Annuity Guarantees Pose to Life Insurers?
   Chicago Fed Letter, 2017 View citations (7)
7. Rules and Discretion in Life Insurance Regulation
   Chicago Fed Letter, 2017

2016

8. Monetary Policy, Loan Maturity, and Credit Availability
   International Journal of Central Banking, 2016, 12, (1), 199-230 View citations (12)
9. The Life Insurance Industry and Systemic Risk: A Bond Market Perspective
   Annual Review of Financial Economics, 2016, 8, (1), 155-174 View citations (2)
   See also Working Paper The Life Insurance Industry and Systemic Risk: A Bond Market Perspective, Working Paper Series (2016) View citations (2) (2016)

2014

10. Understanding the relationship between life insurers and the Federal Home Loan Banks
    Chicago Fed Letter, 2014, (Jan)

2013

11. The sensitivity of life insurance firms to interest rate changes
    Economic Perspectives, 2013, 37, (Q II), 47-78 View citations (17)
12. What do U.S. life insurers invest in?
    Chicago Fed Letter, 2013, (Apr) View citations (3)

2012

13. How liquid are U.S. life insurance liabilities?
    Chicago Fed Letter, 2012, (Sep) View citations (7)

2011

14. Competition in mortgage markets: the effect of lender type on loan characteristics
    Economic Perspectives, 2011, 35, (Q I), 2-21 View citations (10)
15. Mergers increase default risk
    Journal of Corporate Finance, 2011, 17, (4), 832-849 View citations (55)

2009

16. Eat or Be Eaten: A Theory of Mergers and Firm Size
    Journal of Finance, 2009, 64, (3), 1291-1344 View citations (73)
    See also Working Paper Eat or be eaten: a theory of mergers and firm size, Working Paper Series (2006) View citations (1) (2006)

2008

17. What are covered bonds?
    Chicago Fed Letter, 2008, (Dec) View citations (1)

2007

18. Banking market conditions and deposit interest rates
    Journal of Banking & Finance, 2007, 31, (12), 3862-3884 View citations (19)
    See also Working Paper Banking market conditions and deposit interest rates, Working Paper Series (2003) View citations (7) (2003)
19. Bubble, bubble, toil, and trouble
    Economic Perspectives, 2007, 31, (Q I), 16-35 View citations (4)
20. Does market size structure affect competition? The case of small business lending
    Journal of Banking & Finance, 2007, 31, (1), 11-33 View citations (130)
    See also Working Paper Does Market Size Structure Affect Competition? The Case of Small Business Lending, CEI Working Paper Series (2005) View citations (8) (2005)
21. The role of securitization in mortgage lending
    Chicago Fed Letter, 2007, (Nov) View citations (3)

2006

22. Financial innovations, idiosyncratic risk, and the joint evolution of real and financial volatilities - comments
    Proceedings, 2006, (Nov)
23. Merger Momentum and Investor Sentiment: The Stock Market Reaction to Merger Announcements
    The Journal of Business, 2006, 79, (2), 987-1017 View citations (83)
    See also Working Paper Merger momentum and investor sentiment: the stock market reaction to merger announcements, Working Paper Series (2004) View citations (2) (2004)

2005

24. Explaining recent changes in home prices
    Chicago Fed Letter, 2005, (Jul) View citations (3)
25. Switching primary federal regulators: is it beneficial for U.S. banks?
    Economic Perspectives, 2005, 29, (Q III), 16-23 View citations (11)

2004

26. Comment on "Real Effects of Bank Competition" by Nicola Cetorelli
    Journal of Money, Credit and Banking, 2004, 36, (3), 559-62
27. Comment on Avery and Samolyk
    Journal of Financial Services Research, 2004, 25, (2), 327-329

2003

28. Is Three a Crowd? Competition among Regulators in Banking
    Journal of Money, Credit and Banking, 2003, 35, (6), 967-98 View citations (25)
    See also Working Paper Is three a crowd? competition among regulators in banking, Proceedings (2002) View citations (1) (2002)

2002

29. What Goes Up Must Come Down? Asymmetries and Persistence in Bank Deposit Rates
    Journal of Financial Services Research, 2002, 21, (3), 173-193 View citations (27)

2001

30. CEO compensation and bank mergers
    Journal of Financial Economics, 2001, 61, (1), 107-138 View citations (139)

1998

31. Comment on Peek and Rosengrew and Strahan and Westow
    Journal of Banking & Finance, 1998, 22, (6-8), 846-849
32. Modeling Electricity Pricing in a Deregulated Generation Industry: The Potential for Oligopoly Pricing in a Poolco
    The Energy Journal, 1998, Volume19, (Number 3), 19-48 View citations (76)

1995

33. Corporate Control, Portfolio Choice, and the Decline of Banking
    Journal of Finance, 1995, 50, (5), 1377-1420 View citations (247)
    See also Working Paper Corporate Control, Portfolio Choice, and the Decline of Banking, Center for Financial Institutions Working Papers (1994) View citations (4) (1994)

1991

34. Overcapacity and exit from banking
    Proceedings, 1991, (Nov) View citations (6)
35. Research and Development with Asymmetric Firm Sizes
    RAND Journal of Economics, 1991, 22, (3), 411-429 View citations (69)
    See also Working Paper Research and development with asymmetric firm sizes, Finance and Economics Discussion Series (1988) View citations (4) (1988)

1989

36. New banking powers: A portfolio analysis of bank investment in real estate
    Journal of Banking & Finance, 1989, 13, (3), 355-366 View citations (11)
    See also Working Paper New banking powers: a portfolio analysis of bank investment in real estate, Finance and Economics Discussion Series (1988) View citations (1) (1988)

Chapters

2018

1. Defining, Measuring, and Mitigating Systemic Risk at Large Insurance Companies
   Chapter 11 in Public Policy & Financial Economics Essays in Honor of Professor George G Kaufman for His Lifelong Contributions to the Profession, 2018, pp 177-195

2017

2. SME business loans
   Chapter 15 in Handbook of Competition in Banking and Finance, 2017, pp 325-339

2010

3. Too Much Right Can Make a Wrong: Setting the Stage for the US Financial Crisis
   Palgrave Macmillan View citations (2)
   See also Working Paper Too much right can make a wrong: Setting the stage for the financial crisis, Federal Reserve Bank of Chicago (2009) View citations (1) (2009)

1995

4. Banks and Derivatives
   A chapter in NBER Macroeconomics Annual 1995, Volume 10, 1995, pp 299-349 View citations (62)
   See also Working Paper Banks and Derivatives, National Bureau of Economic Research, Inc (1995) View citations (62) (1995)