Joe Peek

CURRICULUM VITAE

Joe Peek

ADDRESS:

Boston College
Department of Economics
Chestnut Hill, MA 02167 USA
Telephone Office: (617) 552-3686
Home: (781) 461-1555
Fax: (617) 552-2308
E-mail: joe.peek@bc.edu

YEAR OF BIRTH: 1948

CITIZENSHIP: U.S.A.

EDUCATION:

Ph.D., Economics, Northwestern University, 1979.

M.S., Economics, Oklahoma State University, 1974

B.S., Mathematics, Oklahoma State University, 1970.

A.A., Mathematics, Northeastern Oklahoma A&M Junior College, 1969.

TEACHING EXPERIENCE:

Graduate: Macroeconomic Theory, Monetary Theory and Policy

Undergraduate: Macroeconomic Theory, Macro and Monetary Policy, Financial Intermediation, Real Estate Finance

CURRENT RESEARCH:

Financial institutions, bank regulation, monetary policy, international transmission of bank capital shocks, small business credit availability, and bank credit availability for real estate.

PROFESSIONAL EXPERIENCE:

1989-present, Professor, Boston College.

1985-present, Visiting Economist, Federal Reserve Bank of Boston.

1994, March-April, Visiting Erskine Fellow, University of Canterbury, Christchurch, N.Z.

1992, March-May, Visiting Professor, University of Canterbury, Christchurch, N.Z.

1987-90, Director of Graduate Studies.

1984-89, Associate Professor Boston College.

1979-84, Assistant Professor, Boston College.

1978-79, Instructor, Boston College.

1971-72, Mathematics Teacher, Randwick Girls High School, Randwick, Australia

FELLOWSHIPS AND AWARDS:

Boston College Teaching/Advising Grant, 1990.

Boston College, Faculty Fellowship, 1986, 1996.

Boston College, Research Expense Grant, 1984, 1985, 1986, 1988.

Boston College, Summer Research Fellowship, 1980, 1983.

Brookings Research Fellowship, The Brookings Institution, 1977-78.

Departmental Fellowship/University Scholarship, Northwestern University, 1974-75.

Richardson Fellowship, St. John's College, Summer, 1973.

Science Scholars Award, Northeastern Oklahoma A&M Junior College, 1967-68, 1968-69.

PUBLICATIONS:

Journals

"Is Bank Supervision Central to Central Banking?" (with Eric Rosengren and Geoffrey Tootell), The Quarterly Journal of Economics, forthcoming.

"The Poor Performance of Foreign Bank Subsidiaries: Were the Problems Acquired or Created?" (with Eric Rosengren and Faith Kasirye), Journal of Banking and Finance, forthcoming.

"Bank Consolidation and Small Business Lending: It's Not Just Bank Size That Matters" (with Eric Rosengren), Journal of Banking and Finance, August 1998, 799-819.

"Derivatives Activity at Troubled Banks" (with Eric Rosengren), Journal of Financial Services Research, 12:2/3 October/December 1997, 287-302.

"The International Transmission of Financial Shocks: The Case of Japan" (with Eric Rosengren), American Economic Review, September 1997, 495-505.

"Will Legislated Early Intervention Prevent the Next Banking Crisis?" (with Eric Rosengren), Southern Economic Journal, July 1997, 268-80

"Bank Regulatory Agreements and Real Estate Lending" (with Eric Rosengren), Real Estate Economics, Spring 1996, 55-73.

"The Capital Crunch: Neither a Borrower Nor a Lender Be" (with Eric Rosengren), Journal of Money, Credit, and Banking, August 1995, 625-38.

"Bank Regulation and the Credit Crunch" (with Eric Rosengren), Journal of Banking and Finance, June 1995, 679-92.

"Bank Real Estate Lending and the New England Capital Crunch" (with Eric Rosengren), Journal of the American Real Estate and Urban Economics Association, Vol. 22, No. 1, Spring 1994, 33-58.

"Treasury Bill Rates in the 1970s and 1980s" (with Patric Hendershott), Journal of Money, Credit and Banking, May 1992, 195-214.

"The Baby Boom, 'Pent-Up' Demand and Future House Prices" (with James A. Wilcox), Journal of Housing Economics, vol. 1, December 1991, 347-67.

"The Measurement and Determinants of Single-Family House Prices" (with James A. Wilcox), AREUEA Journal, Fall 1991, 353-82.

"Determinants of U.S. Treasury Bill Rates" (with Patric Hendershott), Financial Markets and Portfolio Management, No. 1, 1989, 9-15.

"Household Saving in the United States: Measurement and Behavior" (with Patric Hendershott), Journal of Business and Economic Statistics, January 1989, 11-19.

"Monetary Policy Regimes and the Reduced Form for Interest Rates" (with James A. Wilcox), Journal of Money, Credit and Banking, August 1987, 273-291.

"An Ex Ante View of Household Portfolio Choice: The Role of Expected Capital Gains" (with David Ortmeyer), The Review of Economics and Statistics, May 1986, 207-216.

"Tax Rate Effects on Interest Rates" (with James A. Wilcox), Economics Letters, February 1986, 183-186.

"The Degree of Fiscal Illusion in Interest Rates: Some Direct Estimates" (with James A. Wilcox), American Economic Review, December 1984, 1061-1066.

"The Postwar Stability of the Fisher Effect" (with James A. Wilcox), The Journal of Finance, September 1983, 1111-1124.

"Capital Gains and Personal Saving Behavior," Journal of Money, Credit and Banking, February 1983, 1-23.

"Interest Rates, Income Taxes and Anticipated Inflation," American Economic Review, December 1982, 980-991.

"Personal Saving and the Measurement of Income Tax Liabilities," The Review of Economics and Statistics, February 1982, 143-147.

Other

"Can Bank Supervisory Information Improve Forecasts of Variables Critical to Monetary Policy?" (with Eric Rosengren and Geoffrey Tootell), in Payments Systems in the Global Economy: Risks and Opportunities, Proceedings of the 34th Annual Conference on Bank Structure and Competition, Federal Reserve Bank of Chicago, forthcoming.

"The Evolution of Bank Lending to Small Business" (with Eric Rosengren), New England Economic Review, March/April 1998, 27-36.

"Comment on 'Bank Examination and Enforcement, 1980-1994'," in History of the Eighties--Lessons for the Future: Proceedings of the FDIC Symposium, Federal Deposit Insurance Corporation, Vol. 2, 1997, 11-16.

"How Well Capitalized Are Well-Capitalized Banks?" (with Eric Rosengren), New England Economic Review, September/October 1997, 41-50.

"Have Borrower Concentration Limits Encouraged Bank Consolidation?" (with Eric Rosengren), New England Economic Review, January/February 1997, 37-47.

"The Use of Capital Ratios to Trigger Intervention in Problem Banks: Too Little, Too Late" (with Eric Rosengren), New England Economic Review, September/October 1996, 49-58.

"Small Business Credit Availability: How Important Is Size of Lender?" (with Eric Rosengren), in Anthony Saunders and Ingo Walter, eds., Universal Banking: Financial System Design Reconsidered, Irwin Professional Publishing, 1996, 628-55.

"Bank Lending and the Transmission of Monetary Policy" (with Eric Rosengren), in Joe Peek and Eric Rosengren, eds., Is Bank Lending Important for the Transmission of Monetary Policy?, Federal Reserve Bank of Boston Conference Series No. 39, 1995, 47-68.

"Is Bank Lending Important for the Transmission of Monetary Policy? An Overview" (with Eric Rosengren), New England Economic Review, November/ December 1995, 3-10; Also in Joe Peek and Eric Rosengren, eds., Is Bank Lending Important for the Transmission of Monetary Policy?, Federal Reserve Bank of Boston Conference Series No. 39, 1995, 1-11.

"The Effects of Interstate Branching on Small Business Lending" (with Eric Rosengren), in The New Tool Set: Assessing Innovations in Banking, Proceedings of the 31st Annual Conference on Bank Structure and Competition, Federal Reserve Bank of Chicago, 1995, 314-31.

"Bank Regulatory Agreements in New England" (with Eric Rosengren), New England Economic Review, May/June 1995, 15-24.

"Business Failures in New England" (with James W. Meehan, Jr. and Eric Rosengren), New England Economic Review, Nov./Dec. 1993, 33-44.

"Crunching the Recovery: Bank Capital and the Role of Bank Credit" (with Eric Rosengren), in Real Estate and the Credit Crunch, Federal Reserve Bank of Boston Conference Series No. 36, 1992, 151-74.

"Bank Capital Regulation and the New England Credit Crunch" (with Eric Rosengren), in Proceedings of a Conference on Bank Structure and Competition: Credit Markets in Transition, Federal Reserve Bank of Chicago, 1992, 490-501.

"The Capital Crunch in New England" (with Eric Rosengren), New England Economic Review, May/June 1992, 21-31.

"Adjustable Rate Mortgages", in John Eatwell, Murray Milgate and Peter Newman, eds., The New Palgrave Dictionary of Money and Finance, The Macmillan Press Ltd., 1992, 21-22.

"Price Level Adjusted Mortgages"(with James A. Wilcox), in John Eatwell, Murray Milgate and Peter Newman, eds., The New Palgrave Dictionary of Money and Finance, The Macmillan Press Ltd., 1992, 181-82.

"Interest Rates in the Reagan Years" (with Patric Hendershott), in Anandi P. Sahu and Ronald L. Tracy, eds., The Economic Legacy of the Reagan Years: Euphoria or Chaos?, Praeger Publishers, 1991, 147- 62.

"A Real, Affordable Mortgage" (with James A. Wilcox), New England Economic Review, Jan./Feb. 1991, 51-66.

"A Call to ARMs: Adjustable Rate Mortgages in the 1980s," New England Economic Review, March/April 1990, 47-61.

"Aggregate U.S. Private Saving: Conceptual Measures and Empirical Tests" (with Patric Hendershott), in Robert E. Lipsey and Helen Stone Tice, The Measurement of Saving, Investment and Wealth, Studies in Income and Wealth Series, vol. 52, National Bureau of Economic Research, 1989, 185-226.

"The Stock Market and Economic Activity" (with Eric Rosengren), New England Economic Review, May/June 1988, 39-50.

"Inflation and the Excess Taxation of Personal Interest Income," New England Economic Review, March/April 1988, 46-52.

"The Distorting Effects of the Inflation Premium on Personal Income and Expenditures," New England Economic Review, September/October 1987, 10-24.

"Household Wealth Composition: The Impact of Capital Gains," New England Economic Review, Nov./Dec. 1986, 26-39.

"Tax Rates and Interest Rates on Tax-Exempt Securities"(with James A. Wilcox), New England Economic Review, January/February 1986, 29-41.

"Household Saving: An Econometric Investigation" (with Patric H. Hendershott), in Hendershott, ed., The Level and Composition of Household Saving, Cambridge, MA: Ballinger Publishing Company, 1985, 63-100.

"Real Household Capital Gains and Wealth Accumulation" (with Patric H. Hendershott), in Hendershott, ed., The Level and Composition of Household Saving, Cambridge, MA: Ballinger Publishing Company, 1985, 41-61.

Edited Book

Is Bank Lending Important for the Transmission of Monetary Policy? (with Eric Rosengren), Federal Reserve Bank of Boston Conference Series No. 39, 1995.

RECENT PAPERS:

"Collateral Damage: Effects of the Japanese Bank Crisis on Real Activity in the United States" (with Eric Rosengren), September 1998.

"Japanese Banking Problems: Implications for Southeast Asia" (with Eric Rosengren), August 1998.

"Does the Federal Reserve Have an Informational Advantage? You Can Bank on It" (with Eric Rosengren and Geoffrey Tootell), May 1998.

"The Dissemination of Adverse Information Prior to the Bank of New England Failure: 'What We Have Here Is a Failure to Communicate'" (with Eric Rosengren), revised December 1997.

RECENT PAPER PRESENTATIONS:

1992

"The Role of Real Estate in the New England Credit Crunch," American Real Estate and Urban Economics Association Meetings, New Orleans, January; "The Capital Crunch: Neither a Borrower Nor a Lender Be," University of Canterbury, Christchurch, N.Z., March; "The Capital Crunch: Neither a Borrower Nor a Lender Be," University of Otago, Dunedin, N.Z., March; "The Capital Crunch: Neither a Borrower Nor a Lender Be," Victoria University, Wellington, N.Z., March; "Treasury Bill Rates in the 1970s and 1980s," University of Auckland, Auckland, N.Z., April; "Treasury Bill Rates in the 1970s and 1980s," University of Canterbury, Christchurch, N.Z., April; "Treasury Bill Rates in the 1970s and 1980s," University of Waikato, Hamilton, N.Z., May; "Treasury Bill Rates in the 1970s and 1980s," Reserve Bank of New Zealand, Wellington, N.Z., May; "Crunching the Recovery: Bank Capital and the Role of Bank Credit," Federal Reserve Bank of Boston Conference No. 36, Bald Peak Colony Club, N.H., September; "The Capital Crunch: Neither a Borrower Nor a Lender Be," Southern Economic Association Meetings, Washington, D.C., November.

1993

"Bank Regulation and the Credit Crunch," American Economic Association Meetings, Anaheim, CA, January; "Bank Regulation and the Credit Crunch," Seventh Annual Meetings of the Canadian Macroeconomics Study Group, Victoria, B. C., November; "Bank Regulation and the Credit Crunch," Southern Economic Association Meetings, New Orleans, November.

1994

"Bank Regulation and the Credit Crunch," University of Canterbury, Christchurch, N.Z., April; "Bank Regulation and the Credit Crunch," University of Otago, Dunedin, N.Z., April; "Banks and the Availability of Small Business Loans," Federal Reserve Bank of Boston, June; "Banks and the Availability of Small Business Loans," Office of the Comptroller of the Currency, Washington, D.C., June; "Banks and the Availability of Small Business Loans," Southern Economic Association Meetings, Orlando, November.

1995

"Banks and the Availability of Small Business Loans," American Economic Association Annual Meetings, Washington, D.C., January; "Small Business Credit Availability: How Important is Size of Lender?" Conference on Universal Banking, Salomon Center, Stern School of Business, New York University, February; "Banks and the Availability of Small Business Loans," Monetary Economics Program Meeting, NBER, Cambridge, April; "The Effects of Interstate Branching on Small Business Lending," The 31st Annual Conference on Bank Structure and Competition, Chicago, May; "Bank Lending and the Transmission of Monetary Policy," FRB of Boston Conference No. 39, North Falmouth, MA, June; "Prompt Corrective Action Legislation: Does It Make a Difference?" Federal Reserve System Committee on Financial Structure and Regulation Meeting, Portland, Oregon, August.

1996

"Early Identification of Problem Banks for Prompt Corrective Action," Eastern Finance Association Meetings, Charlotte, NC, April; "The International Transmission of Financial Shocks: The Case of Japan," Financial Management Association Meetings, October, New Orleans; "Derivatives Activity at Troubled Banks," Wharton Financial Institutions Center's Conference on Risk Management in Banking, Philadelphia, October; "Bank Lending and the Transmission of Monetary Policy," Department of Economics, Providence College, Providence, RI, November; "Will Legislated Early Intervention Prevent the Next Banking Crisis?," FDIC, Washington, D.C., December.

1997

"Comment on Bank Examination and Enforcement, 1980-1994," History of the Eighties - Lessons for the Future Symposium, Federal Deposit Insurance Corporation, Arlington, VA, January; "The International Transmission of Financial Shocks: The Case of Japan," The World Bank, Washington, D.C., March; "The International Transmission of Financial Shocks: The Case of Japan," NBER Monetary Economics Program Meeting, Cambridge, MA, April; "Bank Consolidation and Small Business Lending: It's Not Just Bank Size That Matters," Conference on the Economics of Small Business Finance, New York University Stern School of Business, May; "Collateral Damage: International Implications of the Japanese Real Estate Collapse," Sixth Annual International Real Estate Conference, Berkeley, CA, June; "The Effects of Interstate Banking on Small Business Lending," Conference on The Impact of Bank Mergers and Acquisitions on Small Business, U.S. Small Business Administration, Office of Advocacy, Washington, DC, October; "The Dissemination of Adverse Information Prior to the Bank of New England Failure: 'What We Have Here Is a Failure to Communicate'," Financial Management Association Meetings, Honolulu, October; "Collateral Damage: Effects of the Japanese Real Estate Collapse on Credit Availability and Real Activity in the United States," Office of the Comptroller of the Currency, Washington, D.C., October; "Collateral Damage: Effects of the Japanese Real Estate Collapse on Credit Availability and Real Activity in the United States," The Fifth Mitsui Life Symposium on Global Financial Markets, University of Michigan Business School, November.

1998

"The Poor Performance of Foreign Bank Subsidiaries: Were the Problems Acquired or Created?" Consolidation of the Financial Services Industry Conference, Federal Reserve Bank of New York, New York, March; "The Japan Premium--work in progress," NBER Japan Project Meeting, Cambridge, MA, April; "Collateral Damage: Effects of the Japanese Real Estate Collapse on Credit Availability and Real Activity in the United States," NBER Monetary Economics Program Meeting, Cambridge, MA, April; "Bank Capital, Bank Supervision, and Risk: Implications for the Regulation of Credit Unions," Economic and Investment Forum, Central Credit Union Fund, Westborough, MA, May; "Early Intervention: Is It Enough to Prevent a Financial Crisis?" Deposit Insurance: Present and Future, Fondo De Garantias De Instituciones Financieras, Bogota, Columbia, July; "Japanese Banking Problems: Implications for Southeast Asia," Banking, Financial Integration, and Macroeconomic Stability, Second Annual Conference of the Central Bank of Chile, Santiago, Chile, September.

REFEREE:

American Economic Review, Economic Inquiry, Journal of Banking and Finance, Journal of Business and Economic Statistics, Journal of Economics and Business, Journal of Finance, Journal of Financial Intermediation, Journal of Financial Services Research, Journal of Housing Economics, Journal of International Money and Finance, Journal of Macroeconomics, Journal of Money, Credit, and Banking, Journal of Real Estate Finance and Economics, Quarterly Journal of Economics, Quarterly Journal of Business and Economics, Real Estate Economics, Review of Economics and Statistics, National Science Foundation.

	Ph.D., Economics, Northwestern University, 1979.
	M.S., Economics, Oklahoma State University, 1974
	B.S., Mathematics, Oklahoma State University, 1970.
	A.A., Mathematics, Northeastern Oklahoma A&M Junior College, 1969.

	Graduate: Macroeconomic Theory, Monetary Theory and Policy

	Undergraduate: Macroeconomic Theory, Macro and Monetary Policy, Financial Intermediation, Real Estate Finance

	1989-present, Professor, Boston College.
	1985-present, Visiting Economist, Federal Reserve Bank of Boston.
	1994, March-April, Visiting Erskine Fellow, University of Canterbury, Christchurch, N.Z.
	1992, March-May, Visiting Professor, University of Canterbury, Christchurch, N.Z.
	1987-90, Director of Graduate Studies.
	1984-89, Associate Professor Boston College.
	1979-84, Assistant Professor, Boston College.
	1978-79, Instructor, Boston College.
	1971-72, Mathematics Teacher, Randwick Girls High School, Randwick, Australia

	Boston College Teaching/Advising Grant, 1990.
	Boston College, Faculty Fellowship, 1986, 1996.
	Boston College, Research Expense Grant, 1984, 1985, 1986, 1988.
	Boston College, Summer Research Fellowship, 1980, 1983.
	Brookings Research Fellowship, The Brookings Institution, 1977-78.
	Departmental Fellowship/University Scholarship, Northwestern University, 1974-75.
	Richardson Fellowship, St. John's College, Summer, 1973.
	Science Scholars Award, Northeastern Oklahoma A&M Junior College, 1967-68, 1968-69.

	"Is Bank Supervision Central to Central Banking?" (with Eric Rosengren and Geoffrey Tootell), The Quarterly Journal of Economics, forthcoming.
	"The Poor Performance of Foreign Bank Subsidiaries: Were the Problems Acquired or Created?" (with Eric Rosengren and Faith Kasirye), Journal of Banking and Finance, forthcoming.
	"Bank Consolidation and Small Business Lending: It's Not Just Bank Size That Matters" (with Eric Rosengren), Journal of Banking and Finance, August 1998, 799-819.
	"Derivatives Activity at Troubled Banks" (with Eric Rosengren), Journal of Financial Services Research, 12:2/3 October/December 1997, 287-302.
	"The International Transmission of Financial Shocks: The Case of Japan" (with Eric Rosengren), American Economic Review, September 1997, 495-505.
	"Will Legislated Early Intervention Prevent the Next Banking Crisis?" (with Eric Rosengren), Southern Economic Journal, July 1997, 268-80
	"Bank Regulatory Agreements and Real Estate Lending" (with Eric Rosengren), Real Estate Economics, Spring 1996, 55-73.
	"The Capital Crunch: Neither a Borrower Nor a Lender Be" (with Eric Rosengren), Journal of Money, Credit, and Banking, August 1995, 625-38.
	"Bank Regulation and the Credit Crunch" (with Eric Rosengren), Journal of Banking and Finance, June 1995, 679-92.
	"Bank Real Estate Lending and the New England Capital Crunch" (with Eric Rosengren), Journal of the American Real Estate and Urban Economics Association, Vol. 22, No. 1, Spring 1994, 33-58.
	"Treasury Bill Rates in the 1970s and 1980s" (with Patric Hendershott), Journal of Money, Credit and Banking, May 1992, 195-214.
	"The Baby Boom, 'Pent-Up' Demand and Future House Prices" (with James A. Wilcox), Journal of Housing Economics, vol. 1, December 1991, 347-67.
	"The Measurement and Determinants of Single-Family House Prices" (with James A. Wilcox), AREUEA Journal, Fall 1991, 353-82.
	"Determinants of U.S. Treasury Bill Rates" (with Patric Hendershott), Financial Markets and Portfolio Management, No. 1, 1989, 9-15.
	"Household Saving in the United States: Measurement and Behavior" (with Patric Hendershott), Journal of Business and Economic Statistics, January 1989, 11-19.
	"Monetary Policy Regimes and the Reduced Form for Interest Rates" (with James A. Wilcox), Journal of Money, Credit and Banking, August 1987, 273-291.
	"An Ex Ante View of Household Portfolio Choice: The Role of Expected Capital Gains" (with David Ortmeyer), The Review of Economics and Statistics, May 1986, 207-216.
	"Tax Rate Effects on Interest Rates" (with James A. Wilcox), Economics Letters, February 1986, 183-186.
	"The Degree of Fiscal Illusion in Interest Rates: Some Direct Estimates" (with James A. Wilcox), American Economic Review, December 1984, 1061-1066.
	"The Postwar Stability of the Fisher Effect" (with James A. Wilcox), The Journal of Finance, September 1983, 1111-1124.
	"Capital Gains and Personal Saving Behavior," Journal of Money, Credit and Banking, February 1983, 1-23.
	"Interest Rates, Income Taxes and Anticipated Inflation," American Economic Review, December 1982, 980-991.
	"Personal Saving and the Measurement of Income Tax Liabilities," The Review of Economics and Statistics, February 1982, 143-147.

	"Can Bank Supervisory Information Improve Forecasts of Variables Critical to Monetary Policy?" (with Eric Rosengren and Geoffrey Tootell), in Payments Systems in the Global Economy: Risks and Opportunities, Proceedings of the 34th Annual Conference on Bank Structure and Competition, Federal Reserve Bank of Chicago, forthcoming.
	"The Evolution of Bank Lending to Small Business" (with Eric Rosengren), New England Economic Review, March/April 1998, 27-36.
	"Comment on 'Bank Examination and Enforcement, 1980-1994'," in History of the Eighties--Lessons for the Future: Proceedings of the FDIC Symposium, Federal Deposit Insurance Corporation, Vol. 2, 1997, 11-16.
	"How Well Capitalized Are Well-Capitalized Banks?" (with Eric Rosengren), New England Economic Review, September/October 1997, 41-50.
	"Have Borrower Concentration Limits Encouraged Bank Consolidation?" (with Eric Rosengren), New England Economic Review, January/February 1997, 37-47.
	"The Use of Capital Ratios to Trigger Intervention in Problem Banks: Too Little, Too Late" (with Eric Rosengren), New England Economic Review, September/October 1996, 49-58.
	"Small Business Credit Availability: How Important Is Size of Lender?" (with Eric Rosengren), in Anthony Saunders and Ingo Walter, eds., Universal Banking: Financial System Design Reconsidered, Irwin Professional Publishing, 1996, 628-55.
	"Bank Lending and the Transmission of Monetary Policy" (with Eric Rosengren), in Joe Peek and Eric Rosengren, eds., Is Bank Lending Important for the Transmission of Monetary Policy?, Federal Reserve Bank of Boston Conference Series No. 39, 1995, 47-68.
	"Is Bank Lending Important for the Transmission of Monetary Policy? An Overview" (with Eric Rosengren), New England Economic Review, November/ December 1995, 3-10; Also in Joe Peek and Eric Rosengren, eds., Is Bank Lending Important for the Transmission of Monetary Policy?, Federal Reserve Bank of Boston Conference Series No. 39, 1995, 1-11.
	"The Effects of Interstate Branching on Small Business Lending" (with Eric Rosengren), in The New Tool Set: Assessing Innovations in Banking, Proceedings of the 31st Annual Conference on Bank Structure and Competition, Federal Reserve Bank of Chicago, 1995, 314-31.
	"Bank Regulatory Agreements in New England" (with Eric Rosengren), New England Economic Review, May/June 1995, 15-24.
	"Business Failures in New England" (with James W. Meehan, Jr. and Eric Rosengren), New England Economic Review, Nov./Dec. 1993, 33-44.
	"Crunching the Recovery: Bank Capital and the Role of Bank Credit" (with Eric Rosengren), in Real Estate and the Credit Crunch, Federal Reserve Bank of Boston Conference Series No. 36, 1992, 151-74.
	"Bank Capital Regulation and the New England Credit Crunch" (with Eric Rosengren), in Proceedings of a Conference on Bank Structure and Competition: Credit Markets in Transition, Federal Reserve Bank of Chicago, 1992, 490-501.
	"The Capital Crunch in New England" (with Eric Rosengren), New England Economic Review, May/June 1992, 21-31.
	"Adjustable Rate Mortgages", in John Eatwell, Murray Milgate and Peter Newman, eds., The New Palgrave Dictionary of Money and Finance, The Macmillan Press Ltd., 1992, 21-22.
	"Price Level Adjusted Mortgages"(with James A. Wilcox), in John Eatwell, Murray Milgate and Peter Newman, eds., The New Palgrave Dictionary of Money and Finance, The Macmillan Press Ltd., 1992, 181-82.
	"Interest Rates in the Reagan Years" (with Patric Hendershott), in Anandi P. Sahu and Ronald L. Tracy, eds., The Economic Legacy of the Reagan Years: Euphoria or Chaos?, Praeger Publishers, 1991, 147- 62.
	"A Real, Affordable Mortgage" (with James A. Wilcox), New England Economic Review, Jan./Feb. 1991, 51-66.
	"A Call to ARMs: Adjustable Rate Mortgages in the 1980s," New England Economic Review, March/April 1990, 47-61.
	"Aggregate U.S. Private Saving: Conceptual Measures and Empirical Tests" (with Patric Hendershott), in Robert E. Lipsey and Helen Stone Tice, The Measurement of Saving, Investment and Wealth, Studies in Income and Wealth Series, vol. 52, National Bureau of Economic Research, 1989, 185-226.
	"The Stock Market and Economic Activity" (with Eric Rosengren), New England Economic Review, May/June 1988, 39-50.
	"Inflation and the Excess Taxation of Personal Interest Income," New England Economic Review, March/April 1988, 46-52.
	"The Distorting Effects of the Inflation Premium on Personal Income and Expenditures," New England Economic Review, September/October 1987, 10-24.
	"Household Wealth Composition: The Impact of Capital Gains," New England Economic Review, Nov./Dec. 1986, 26-39.
	"Tax Rates and Interest Rates on Tax-Exempt Securities"(with James A. Wilcox), New England Economic Review, January/February 1986, 29-41.
	"Household Saving: An Econometric Investigation" (with Patric H. Hendershott), in Hendershott, ed., The Level and Composition of Household Saving, Cambridge, MA: Ballinger Publishing Company, 1985, 63-100.
	"Real Household Capital Gains and Wealth Accumulation" (with Patric H. Hendershott), in Hendershott, ed., The Level and Composition of Household Saving, Cambridge, MA: Ballinger Publishing Company, 1985, 41-61.

	"Collateral Damage: Effects of the Japanese Bank Crisis on Real Activity in the United States" (with Eric Rosengren), September 1998.
	"Japanese Banking Problems: Implications for Southeast Asia" (with Eric Rosengren), August 1998.
	"Does the Federal Reserve Have an Informational Advantage? You Can Bank on It" (with Eric Rosengren and Geoffrey Tootell), May 1998.
	"The Dissemination of Adverse Information Prior to the Bank of New England Failure: 'What We Have Here Is a Failure to Communicate'" (with Eric Rosengren), revised December 1997.