We thank staffs of the Board of Governors of the Federal Reserve and of the Federal Reserve Bank of New York, participants at the Federal Reserve System applied microeconomics conference, the Federal Deposit Insurance Corporation Annual Bank Research Conference and seminar participants at Villanova University for valuable comments. The views presented in this paper are solely those of the autho...

This paper studies the consequences of a regulatory pay cap in proportion to assets on bank risk, bank value, and bank asset allocations. The cap is shown to lower banks’ risk and raise banks’ values by acting against a competitive externality in the labour market. The risk reduction is achieved without the possibility of reduced lending from a Tier 1 increase. The cap encourages diversificatio...

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Shunt capacitor banks are used to improve the quality of the electrical supply and the efficient operation of the power system. Studies show that a flat voltage profile on the system can significantly reduce line losses. Shunt capacitor banks are relatively inexpensive and can be easily installed anywhere on the network. This paper reviews principles of shunt capacitor bank design for substatio...

This study examines bank robberies across the fifty states and the District of Columbia for the decade of the 1990s. It was determined that bank robberies are positively associated with the ratio of police officers to population, and the unemployment rate. Bank robberies are also negatively associated with the poverty rates across states and over time. It was hypothesized that bank robberies we...