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Curriculum Vitae (in .pdf format)
Areas of Interest
Finance,
Applied Microeconomics
Publications (grouped, roughly, by subject areas)
Accounting (including accounting-economics and accounting-finance)
BOOKS:
Following the Money: The Enron Failures and the State of Corporate Disclosure (with Michael Bromwich, Robert E. Litan, and Alfred Wagenhofer), AEI-Brookings Joint Center for Regulatory Studies, Washington DC, 2003
Contemporary Cost Accounting and Control, editor, Dickenson Publishing Company, Belmont, CA, First Edition, 1970; Second Edition, CBI Publishing Company, Boston, MA, 1977
Corporate Financial Disclosure in the U.K. and the U.S.A., Saxon/Lexington Books (D.C. Heath) and the Institute of Chartered Accountants in England and Wales ( London), 1976, 206 pp.
MONOGRAPHS:
Investors' Use of Financial Accounting Statement Numbers: A Review of Evidence from Stock Market Research, University of Glasgow Press (an earlier version was delivered as the Arthur Young Distinguished Lecture presentation, Glasgow University), October 1979
Voluntary vs Mandated Disclosure (An Evaluation of the Basis for the Recommendations of the Working Group on Improved Product and Adviser Disclosure), Report prepared for the New Zealand Business Roundtable, Wellington, NZ, May 1997.
ARTICLES IN ACADEMIC JOURNALS AND PUBLICATIONS:
“Appraising the Defensive Position of a Firm: The Interval Measure” (with George H. Sorter), The Accounting Review, XXXV, October 1960, 633-640
“The Role of the Firm's Accounting System for Motivation,” The Accounting Review, XXXVIII, April 1963, 347-354. (Reprinted in Rappaport, eds., Information for Decision Making, Prentice-Hall; Bruns and DeCosta, eds., Accounting and its Behavioral Implications, McGraw-Hill; and other books)
“Multiple Regression Analysis of Cost Behavior,” The Accounting Review, XLI, October 1966, 657-672. (First Prize American Accounting Association Manuscript Contest, read before 1966 Annual AAA Meeting, Miami, Florida.) (Reprinted in David Solomons, ed., Studies in Cost Analysis, second edition, Irwin; Alfred Rappaport, Information for Decision Making, Prentice-Hall; and other books)
“Published Corporate Accounting Data and Stock Price,” The Journal of Accounting Research, Empirical Research in Accounting: Selected Studies, 1967, 1-54
“The Effectiveness and Effects of the SEC's Accounting Disclosure Requirements,” in Economic Policy and the Regulation of Corporate Securities, Henry G. Manne, ed., the American Enterprise Institute, Washington, D.C., 1969, 23-79
“The Value of the SEC's Accounting Disclosure Requirements,” The Accounting Review, XLIV, July 1969, 515-532 (originally presented to the Annual Meeting of the American Accounting Association, San Diego, California, August 1968)
“Required Disclosure and The Stock Markets: An Evaluation of the Securities Exchange Act of 1934,” American Economic Review, LXIII, March 1973, 132-155
“Financial Reporting and the Stock Markets: 'Evaluation of the Securities Exchange Act of 1934,' ” George J. Benston: 'The Other Side,' A.A. Sommer, Jr.: Comments on 'The Other Side,' George Benston, Financial Executive, May 1974, 28-42 (a less technical version of “Required Disclosure and the Stock Market: An Evaluation of the Securities Act of 1934,” that appeared in the American Economic Review, March 1973)
“A Critique of the Rationale for Required Corporation Financial Disclosure,” in Emanuel Saxe Distinguished Lecture Series, 1973-74, Reed K. Storey, ed., Baruch College, City University of New York, 1975, 37-52
“Accountants' Integrity and Financial Reporting,” Financial Executive, XLIII, August 1975, 10-14 (an earlier version was presented at the American Accounting Association annual meeting, August 1974)
“Accounting Standards in the U.S. and the U.K.: Their Nature, Causes and Consequences,” Vanderbilt Law Review, 28, January 1975, 235-268. (Reprinted in Corporate Counsel's Annual-1976, Ed., H. Friedman, J.P. O'Brien and H.J. Schlegman, Mathew Bender, New York, 1976)
“Public ( U.S.) Compared to Private ( U.K.) Regulation of Corporate Financial Disclosure,” Accounting Review, LI, July 1976, 483-498. (Reprinted in Notable Contributions to the Periodical International Accounting Literature-1975-78, Selected by the International Accounting Section of the American Accounting Association, 1979)
“Cost Measurement,” in Handbook of Cost Accounting, Sidney Davidson and Roman Weil, eds., McGraw-Hill, 1978, Chapter 5, 1-32
“An Appraisal of the Costs and Benefits of Government-Required Disclosures: SEC and FTC Requirements,” Law and Contemporary Problems, XLI, Summer 1977, 30-62. (Reprinted in Corporations at the Crossroads: Governance and Reform, Deborah A. DeMott, ed., New York: McGraw-Hill, 1980, 37-69)
“The Economic Consequence of Financial Accounting Statements” (With Melvin A. Krasney), in Economic Consequences of Financial Accounting Standards, Selected Papers [one of five papers chosen in competition with other submissions], Financial Accounting Standards Board Research Report, July 1978, 159-252
“DAAM: The Demand for Alternative Accounting Measurements” (with Melvin A. Krasney), Journal of Accounting Research, Supplement, 16, 1978, 1-45
“Required Periodic Disclosure Under the Securities Acts and the Proposed Federal Securities Code,” University of Miami Law Review, 33, September 1979, 1471-1484. (Reprinted in the Journal of Accountancy, October 1980, 34-45)
“The Market for Public Accounting Services: Demand, Supply and Regulation,” The Accounting Journal, 2, 1979/1980, 1-46. (First presented to a Liberty Fund Seminar conducted by the Law and Economics Center, University of Miami). Republished (with small changes) in the Journal of Accounting and Public Policy , 4, No. 1, Spring 1985, 33-79
“The Establishment and Enforcement of Accounting Standards: Methods, Benefits and Costs,” Accounting and Business Research, 41, Winter 1980, 51-60. (The paper was prepared for the Arthur Young McClelland Moores Distinguished Visiting Accounting Professorship, London Graduate School of Business Studies, Summer 1979.) Also published in the 1980 Accounting Research Convocation, John O. Mason, Jr., ed., University of Alabama, 25-43
“Are Accounting Standards Necessary?,” in British Accounting Standards: The First Ten Years, edited by Sir Ronald Leach and Edward Stamp, Woodhead-Fulkner Ltd., 1981, 201-214
“Security for Investors,” chapter 6 in Instead of Regulation, Robert W. Poole, Jr., ed., Lexington Books, Lexington, MA, 1982, 169-205
“Accounting and Corporate Accountability,” Accounting, Organization and Society, 7, No. 2, 1982, 87-105. (An earlier version of this paper was presented as a University of London Special University Lecture, February 1981)
“An Analysis of the Role of Accounting Standards for Enhancing Corporate Governance and Social Responsibility,” Journal of Accounting and Public Policy, 1, 1982, 5-17. (First presented at a conference on international accounting standards held at the London Graduate School of Business Studies, January 1982). Also published in Accounting Standard Setting, Michael Bromwich and Anthony Hopwood, eds., Pitman Books Ltd., London, 1983, 13-26
“The Costs of Complying with a Government Data Collection Program: The FTC's Line of Business Report,” Journal of Accounting and Public Policy, 3, 1984, 123-137
“On the Value and Limitations of Financial Accounting,” Contemporary Accounting Research, 1, No. 1, 1985, 47-57
“The Self-Serving Management Hypothesis: Some Evidence,” Journal of Accounting and Economics, 7, 1985, 67-84
“Market-Value vs. Historical Cost Accounting: Evidence from Southeastern Thrifts”, with Mike Carhill, and Brian Olasov, in Reform of Deposit Insurance: Disciplining the Government and Protecting Taxpayers James R. Barth and R. Dan Brumbaugh, Jr., eds, New York: Harper Business, 1992, 277-304
“Financial Reporting of Derivatives: An Analysis of the Issues, Evaluation of Proposals, and a Suggested Solution,” with Shehzad Mian, Journal of Financial Engineering, 4, 1995, 217-246.
“Accounting for Derivatives: Back to Basics,” Journal of Applied Corporate Finance, 10, 1997 (Fall), 46-58.
“Enron: what happened and what we can learn from it,” with Al L. Hartgraves, Journal of Accounting and Public Policy, 21, 2002, 105-127.
“The Evolving Accounting Standards for Special Purpose Entities (SPEs) and Consolidation,” with Al L. Hartgraves, 16, Accounting Horizons, 2002, 245-58.
“Measuring Corporate Performance: The Perils of Turning to Cash Flow,” with Ray Hill and Al L. Hartgraves, Public Utilities Fortnightly, 2003 (May 15).
“Accounting Doesn’t Need Fixing (Just Reinterpreting),” Journal of Applied Corporate Finance, 15, 2003 (Spring), 83-96.
“The Regulation of Accountants and Public Accounting Before and After Enron,” Emory Law Journal, 52, 2003 (Summer), 1325-1351.
“The Quality of Corporate Financial Statements and Their Auditors before and after Enron” ( Policy Analysis, No. 497, Cato Institute, November 6, 2003).
“The Role and Limitations of Financial Accounting and Auditing for Financial Market Discipline,” in Market Discipline: The Evidence Across Countries and Industries,” W. Curt Hunter, ed., Cambridge MA: MIT Press, 2004, 303 -321.
“How Should Banks Account for Loan Losses?,” with Larry D. Wall, Journal of Accounting and Public Policy, 2005, forthcoming
REVIEWS AND COMMENTS
Review of Accounting, Evaluation and Economic Behavior by Raymond J. Chambers, American Economic Review, XLIV, March 1967, 297-299
Comment on "Empirical Research in Accounting, 1960-70: An Appraisal," by Nils Hakansson, in Nicholas Dopuch and Lawrence Revsine, eds., Accounting Research 1960-70: A Critical Evaluation, University of Illinois, Center for International Education and Research in Accounting, Champaign, Illinois, 1973, 174-178
Review article on Unaccountable Accounting by Abraham Briloff, Journal of Accounting Research, 12 (Autumn 1974), 348-354. Also published in Wall Street Review of Books, 1, December 1973, 465-470
“Corporate Disclosure: Who Needs More?” New York Times, Sunday Business Section, March 17, 1974
“Required Disclosure and the Stock Market: Rejoinder,” American Economic Review, 65, June 1975, 473-477
“There's No Real News in Earnings Reports,” Fortune Magazine, April 1976, 73-75
Comments on “The Ups and Downs of Income Numbers: Intertemporal Smoothing,” by Joshua Ronen and Simcha Sadan, Proceedings of the Conference on Topical Research in Accounting, Ross Institute, New York University, 1976, 317-323
Review of The SEC and Corporate Disclosure: Regulation in Search of a Purpose, by Homer Kripke, The Accounting Review, LVI, April 1981, 431-434
“Rejoinder to 'Accounting and Corporate Accountability: An Extended Comment',” Accounting, Organizations and Society, Vol. 9, No. 3/4, 1984, 417-419
“Disclosure Rules Do Not Work,” Financier, IX, October 1985, 44-48
“Toward A Cost-Benefit Analysis of the SEC: Have the British a Better Way?,” Midland Corporate Finance Journal, 3. Summer 1985, 65-85 (a revised version of "Security for Investors," originally published in Instead of Regulation)
“Do We Really Need the SEC?,” CFO Magazine, April 1986, 10-12
“The Benefits and Costs of Managers of Voluntary Accounting Disclosure -- A Discussion of: 'Current Cost Accounting in Canada: Disclosers and Non-Disclosers',”(by Daniel Thornton), Contemporary Accounting Research, Fall 1986 (3, No. 1),.35-44
Discussion of “Credibility in Private Sector Standard Setting” by Thomas Dyckman and “Political Economy of Accounting Standards,” by Shyam Sunder, in Journal of Accounting Literature, 7, 1988, 42-49
Review article on Defining the Roles of Accountants, Bankers and Regulators in the United States, A Study Group Report (Washington DC: Group of Thirty, 1994), Accounting Horizons, 9, 1995, 138-142
Banking and Finance
BOOKS
Financial Services: The Changing Institutions and Government Policy, editor, Prentice-Hall, Englewood Cliffs, NJ, 1983 (papers commissioned and edited for a conference sponsored by The American Assembly, Arden House, April 1983, of which I was director), 285 pp.
Perspectives on Safe and Sound Banking: Past, Present, and Future, (with Robert A. Eisenbeis, Paul M. Horvitz, Edward J. Kane, and George G. Kaufman), Boston, MA: MIT Press, 1986, 358 pp.
The Separation of Commercial and Investment Banking: The Glass-Steagall Act Revisted and Reconsidered, London, UK: Macmillan Press Ltd., and New York, NY: Oxford University Press, 1990
Discrimination in Financial Services, co-edited with W. Curt Hunter and George G. Kaufman, Boston: Kluwer Academic Publishers, 1997
MONOGRAPHS
“Savings Banking and the Public Interest,” Journal of Money, Credit and Banking, IV, February 1972, Part II, 130-226
“Bank Examination,” The Bulletin (New York University Institute of Finance), Nos. 89-90, May 1973, 73 pp. (Originally prepared for the Commission on Financial Structure and Regulation)
Federal Reserve Membership: Consequences, Costs, Benefits and Alternatives, Trustees of the Banking Research Fund, Association of Reserve City Bankers (Chicago), monograph series, 1978, 77 pp. (The Executive Summary also is published in the Journal of Bank Research, 10, Spring 1980, 57-60) (Reprinted in Havrilesky and Boorman, eds., Current Perspectives in Banking, second edition, ANM Publishing, Arlington Heights, IL, 1980)
An Economic Analysis of the Federal Home Loan Bank Board's Proposed Regulation “Limitations on Direct Investment by Insured Institutions” (with an introduction and evaluation by Alan Greenspan), December 1984, 108 pp.
An Analysis of The Causes of Savings and Loan Failures, Monograph Series in Finance and Economics, Salomon Center, New York University Graduate School of Business Administration, Monograph 1985 - 4/5, 180 pp.
Risk and Solvency Regulation of Depository Institutions: Past Policies and Current Options (with George G. Kaufman), Monograph Series in Finance and Economics, Salomon Center, New York University Graduate School of Business Administration, Monograph 1988 -1, 86 pp.
Restructuring America's Financial Institutions (with R. Dan Brumbaugh, Jr., Jack M. Guttentag, Richard J. Herring, George G. Kaufman, Robert E. Litan, and Kenneth E. Scott), Washington, DC: The Brookings Institution, 1989, 34 pp.
Regulating Financial Markets: A Critique and some Proposals, Hobart Paper 135, Institute of Economic Analysis, London, UK (an earlier version was presented as the 19 th Henry Thornton Lecture, City University, London (November 1997), 130 pp. Also published (same title, with some changes) by the American Enterprise Institute, AEI Studies on Financial Market Deregulation, Washington, DC. 1999, 136 pp.
Reforming Bank Capital Regulation: A Proposal by the U.S. Shadow Financial Regulatory Committee (with other SFRC members: Charles Calomiris, Franklin Edwards, Scott Harrington, Richard Herring, Paul Horvitz, Roberta Romano, Hal Scott, Kenneth Scott, and Peter Wallison), American Enterprise Institute, Washington, DC. 2000.
ARTICLES IN ACADEMIC JOURNALS AND PUBLICATIONS
“Interest Payments on Demand Deposits and Bank Investment Behavior,” Journal of Political Economy, LXXII, October 1964, 431-449. (An earlier version of the paper was presented at the Summer 1963 meetings of the Econometric Society)
“Commercial Bank Price Discrimination Against Small Loans: An Empirical Study,” Journal of Finance, XIX, December 1964, 631-643
“Branch Banking and Economies of Scale,” Journal of Finance, XX, May 1965, 312-331. (Presented at the 1984 meeting of the American Finance Association)
“Economies of Scale and Marginal Costs in Banking Operations,” National Banking Review, 2, June 1965, 507-549. (Reprinted in Analytical Methods in Banking , Kalman J. Cohen and Frederick S. Hammer, eds., Irwin, 1966; Studies in Banking Competition and the Banking Structure, Office of the Comptroller of the Currency, Washington, 1966; and Frederick Bell and Neil Murphy, Cost in Commercial Banking, Federal Reserve Bank of Boston, 1968)
“Substandard Loans,” The National Banking Review, 4, March 1969, 271-281
“An Analysis and Evaluation of Alternative Reserve Requirement Plans,” The Journal of Finance, XXIV, December 1969, 849-870
“Cost of Operations and Economies of Scale in Savings and Loan Associations,” research paper in Study of the Savings and Loan Industry, directed by Irwin Friend, Federal Home Loan Bank Board, U.S. Government Printing Office, Washington, D.C., 1970, 677-761
“Economies of Scale of Financial Institutions,” Journal of Money, Credit and Banking, IV, May 1972, 312-341. (First presented to the 1970 ABA Conference of University Professors)
“Overdraft Banking: Its Implications for Monetary Policy, the Commercial Banking Industry and Individual Banks,” Journal of Bank Research, 3, Spring 1972, 7-25
“The Optimal Banking Structure: Theory and Evidence from the United States,” Kredit und Kapital, 5, December 1972, 438-476; also published in an almost identical version as “The Optimal Banking Structure: Theory and Evidence,” in Journal of Bank Research, 3, Winter 1973, 220- 236 (Reprinted in Havrilesky and Boorman, eds., Current Perspectives in Banking, first and second editions, ANM Publishing, Arlington Heights , IL , 1976 and 1980)
“Bank Examiners' Evaluation of Credit: An Analysis of the Usefulness of Substandard Loan Data,” with John Tepper Marlin, The Journal of Money, Credit and Banking, VI, February 1974, 23-44. (An earlier version was presented at the Econometric Society Meeting, New Orleans, LA)
“Determinants of Bid-Asked Margins in the Over-the-Counter Market” (with Robert L. Hagerman), Journal of Financial Economics, 1, December 1974, 353-364
“The Costs to Consumer Finance Companies of Extending Consumer Credit,” The National Commission on Consumer Finance, U.S. Government Printing Office, Washington, D.C., Technical Studies, Volume II, 1975, 1-158
“An Analysis of Maine's '36 Month Limitation' on Finance Company Small Loans,” The National Commission on Consumer Finance, U.S. Government Printing Office, Washington, D.C., Technical Studies, Volume II, 1975, 1-63
“State Controls on Consumer Finance Company Loans: The Case of Maturity Regulation in Maine,” in Government Credit Allocation: Where Do We Go From Here?, Karl Brunner, ed., Institute for Contemporary Studies ( San Francisco), 1975, 181-208
“A Transactions Cost Approach to the Theory of Financial Intermediating” (with Clifford W. Smith, Jr.), Journal of Finance, XXXI, May 1976, 215-231 (An earlier version was presented at the 1975 American Finance Association annual meeting)
“An Analysis of the Capital Requirements of S&L Associations,” in Change in the Savings and Loan Industry (Proceedings of the Second Annual Conference), Federal Home Loan Bank of San Francisco, December 1976, 159-166
“The Impact of Maturity Regulation on High Interest Rate Lenders and Borrowers,” Journal of Financial Economics, 4, January 1977, 23-49
“A Summary Report on Bank Holding Company Affiliation and Economies of Scale” with Gerald A. Hanweck), in Bank Structure and Competition, Federal Reserve Bank of Chicago, Chicago, Illinois, 1977, 158-167
“Risk on Consumer Finance Company Personal Loans”, Journal of Finance, XXXII, May 1977, 593-607 (first presented at the 1976 American Finance Association annual meeting)
“Graduated Rate Ceilings and Operating Costs by Size of Consumer Cash Loans,” Journal of Finance, XXXII, June 1977, 695-707
“Rate Ceiling Implications of the Cost Structure of Consumer Finance Companies,” Journal of Finance, XXXII, September 1977, 1169-119
“Risk, Volume and Spread” (with Robert L. Hagerman), Financial Analysts Journal, January/February 1978, 46-49
“Scale Economies in Banking: A Restructuring and Reassessment” (with Gerald A. Hanweck and David B. Humphrey), Journal of Money, Credit and Banking, XIV, November 1982, part 1, 435-456
“Operating Costs in Commercial Banking” (with Gerald A. Hanweck and David B. Humphrey), Economic Review, Federal Reserve Bank of Atlanta, LXVII, November 1982, 6-21 (Reprinted in Havrilasky, Schweitzer, and Boorman, eds., Dynamics of Banking, Harlan Davidson, Arlington Heights, IL, 1985
“Federal Regulation of Banking: Analysis and Policy Recommendations,” Journal of Bank Research, 13, Winter 1983, 216-244. Reprinted with small changes in George G. Kaufman and Roger C. Kormendi, eds., Deregulating Financial Services: Public Policy in Flux, 1986, as "Federal Regulation of Banking: Historical Overview," 1-47
“Deposit Insurance and Bank Failures,” Economic Review (Federal Reserve Bank of Atlanta), March 1983, 4-17
“The Regulation of Financial Services,” Financial Services: The Changing Institutions and Government Policy, George J. Benston ed., Prentice-Hall, Englewood Cliffs, NJ, 1983, 28-63 (also "Introduction" and "A Summary of Public Policy Questions")
“Economies of Scale and Scope in Banking” (with Allen N. Berger, Gerald A. Hanweck, and David B. Humphrey), in Proceedings from A Conference on Bank Structure and Competition, Federal Reserve Bank of Chicago, 1983, 432-455
“The Cost of Banking Operations and Interstate Banking,” in Interstate Banking Expansion: Market Forces and Competitive Realities, Report of the Florida Interstate Banking Study Group, January 1984, 141-148 and The Journal of Corporate Law, 9, Summer 1984, 720-724. Also published in Commercial Banking and Interstate Expansion, Larry A. Frieder et al., VMI Research Press, Ann Arbor, Michigan, 1985, 121-125
“Financial Disclosure and Bank Failures,” Economic Review (Federal Reserve Bank of Atlanta), March 1984, 5-12. (Reprinted in Havrilasky, Schweitzer, and Boorman, eds., Dynamics of Banking, Harlan Davidson, Arlington Heights, IL, 1985
“The Effects of Regulation,” Chapter 6 in Payments in the Financial Services Industry of the 1980s, Federal Reserve Bank of Atlanta, Quorum Books, 1984, 125-137
“Brokered Deposits and Deposit Insurance Reform,” Issues in Bank Regulation, 7, Spring 1984, 17-24
“Interest on Deposits and the Survival of Chartered Depository Institutions,” Economic Review (Federal Reserve Bank of Atlanta), October 1984, 42-56
“The Regulation of U.S. Banking,” in Canadian Financial Institutions: Changing the Regulatory Environment, The Faculty of Law-University of Toronto, Institute for Policy Analysis-University of Toronto, Canadian Bar Association-Ontario, and Ontario Economic Council, 1986, 219-35
“Risks and Failures in Banking: Overview, History and Evaluation,” (with George G. Kaufman) in Deregulating Financial Services: Public Policy in Flux , edited by George G. Kaufman and Roger C. Kormendi, Ballinger Press, 1986, pp. 49-77 (Chapter 2). Also in this volume, "Federal Regulation of Banking: Historical Overview: (Chapter 1, pp. 1-47), a slightly revised version of a previously published article.
“The Role of Regulation for the Stability of Financial Institutions,” in Symposium on Debt, Financial Stability, and Public Policy, Federal Reserve Bank of Kansas City, 1986, 137-152
“Why Continue to Regulate Banks?: An Historical Assessment of Federal Banking Regulation,” Midland Corporate Finance Journal, 5, Fall 1987, 67-82 (a revised, updated version of "Federal Regulation of Banking: Analysis and Policy Recommendations," Journal of Bank Research, 13, Winter 1983)
“The Problems and Future of Commercial Banks,” Midland Corporate Finance Journal, Winter 1988, 6-13
“Regulating Bank Safety and Performance,” with George G. Kaufman, in Restructuring the Financial System, William S. Haraf, and Rose Marie Kushmeider, eds., Washington, D.C.: American Enterprise Institute, 1988, 63-99 (a more extensive version is published as a monograph Risk and Solvency Regulation of Depository Institutions, Monograph Series in Finance and Economics, Salomon Center, New York University Graduate School of Business Administration, Monograph 1988 –1.
“On the Controversy Over Asset Restrictions for Thrift Institutions,” with R. Dan Brumbaugh, Jr., Housing Finance Review, 7, 1988, (Fall/Winter), 361-369
“The Federal 'Safety Net' and the Repeal of the Glass-Steagall Act's Separation of Commercial and Investment Banking,” Journal of Financial Services Research, 2, 1989, pp. 287-305
“Direct Investments and FSLIC Losses,” Research in Financial Services: Private and Public Policies, George G. Kaufman, ed., Vol. 1, (JAI Press), 1989, 25-77
“Market-Value Accounting: Benefits, Costs and Incentives,” Proceedings: A Conference on Bank Structure and Competition, Federal Reserve Bank of Chicago, 1989, 547-69
“Understanding the Savings and Loan Debacle,” with George G. Kaufman, The Public Interest, 99, Spring 1990, 79-95
“ U.S. Banking in an Increasingly Integrated and Competitive World Economy,” Journal of Financial Services Research, 4, 1990, pp. 311-339. Also in International Competitiveness in Financial Services, Marvin H. Kosters and Allan H. Meltzer, eds, Kluwer Academic Publishers, Norwell, MA, 53-82. (An earlier version was presented to a conference sponsored by the American Enterprise Institute, "International Competitiveness in Financial Services," Washington, DC, May 31 - June 1, 1990).
“Does Bank Regulation Produce Stability? Lessons from the United States,” in Unregulated Banking: Order or Chaos?, Forrest Capie and Geoffrey E. Wood, eds., MacMillan, London, UK, 1991, 207-232.
“The Failure and Survival of Thrifts: Evidence from the Southeast,” with Mike Carhill, and Brian Olasov, in Financial Markets in Financial Crisis, R. Glenn Hubbard, ed., National Bureau of Economic Research, University of Chicago Press, 1991, 305-384.
“Is There a Credit Crunch? And What Should We Do About It?”, Journal of Applied Corporate Finance, Spring 1991, 86-91
“Competition Versus Competitive Equality in International Financial Markets,” in Regulating International Financial Markets: Issues and Policies , Franklin R. Edwards and Hugh T. Patric, eds., Boston, MA: Kluwer Academic Publishers, 1992, 277-289. Reprinted in Global Risk Based Capital Regulations: Capital Adequacy , Charles A. Stone and Anne Zissu, eds., Irwin, 1994, 121-134
“The Purpose of Capital for Institutions with Government-Insured Deposits,” Journal of Financial Services Research, 1992, 5, 369-384. Reprinted in Global Risk Based Capital Regulations: Capital Adequacy, Charles A. Stone and Anne Zissu, eds., Irwin, 1994, 342-362
“The Future of Asset Securitization: The Benefits and Costs of Breaking Up the Bank,” Journal of Applied Corporate Finance, 5, Spring 1992, 71-82. Reprinted in The Global Asset Backed Securities Market, Charles Stone, Anne Zissu, and Jess Lederman, eds., Chicago, IL and Cambridge, England: Probus Publishing Company, 1993, 3-14
“FSLIC Forbearance and the Thrift Debacle,” with Mike Carhill, Proceedings: A Conference on Bank Structure and Competition, Federal Reserve Bank of Chicago, 1992, 121 - 144
“International Regulatory Coordination of Banking” in The Internationalisation of Capital Markets and the Regulatory Response, John Fingleton and Dirk Schoenmaker, eds., Graham & Trotman, London, 1992, 51-73 (earlier version was presented at a conference sponsored by the London School of Economics, London October 1991), 197 - 209
“International Bank Capital Standards,” in Emerging Challenges for the International Financial Services Industry, James R. Barth and Phillip F. Bartholomew, eds., Volume 9 of Research in International Business and Finance, series editor H.Peter Gray, Greenwich, CT: JAI Press. 1992 (an earlier version was presented at the Joint Universities Conference on Regulating Commercial Banks: Australian Experience in Perspective, Canberra, Australia, August 1989)
“An Analysis of the Case Against Commercial Firms Owning Banks,” in Emerging Challenges for the International Financial Services Industry, James R. Barth and Phillip F. Bartholomew, eds., Volume 9 of Research in International Business and Finance, series editor H.Peter Gray, Greenwich, CT: JAI Press, 1992, 231-236 (also published in Banking Policy Report, 10, Aguust 5, 1991, 4-7)
“The Intellectual History of the Federal Deposit Insurance Corporation Improvement Act of 1991,” with George G. Kaufman, Assessing Bank Reform: FDICIA One Year Later, George G. Kaufman and Robert E. Litan, eds., The Brookings Institution, Washington, DC, 1993, 19-32. Reprinted in Reforming Financial Institutions and Markets in the United States, George G. Kaufman, Kluwer Academic Publishers, Boston, 1994, 1-17
“Improving the FDIC Improvement Act: What Was Done and What Still Needs to Be Done to Fix the Deposit Insurance Problem,” with George G. Kaufman, Reforming Financial Institutions and Markets in the United States, George G. Kaufman, ed., Kluwer Academic Publishers, Boston, 1994, 99-120 (an earlier version was presented at the American Finance Association annual meeting, January 1993)
“Market Discipline: The Role of Uninsured Depositors and Other Market Participants,” in Richard E. Randall, ed., Safeguarding the Banking System in an Environment of Financial Cycles, Federal Reserve Bank of Boston Conference Series No. 37, 1994, 65-95
“International Harmonization of Banking Regulations and Cooperation Among National Regulators: An Assessment,” Journal of Financial Services Research, 8, 1994, 205-225
“Universal Banking,” Journal of Economic Perspectives, 8, 1994, 121-143
“The Causes and Consequences of the Thrift Disaster,” with Mike Carhill, Research in Financial Services, George G. Kaufman, ed., Greenwich, CN: JAI Press, 1994, 103-169
“Safety Nets and Moral Hazard in Banking,” in Financial Stability in a Changing Environment, Kuniho Sawamoto, Zenata Nakajima, and Hiroo Taguchi, eds., St. Martin’s Press, New York, 1995, 329-377 (earlier version presented at an international conference sponsored by the Bank of Japan, October 1993)
“Motivations for Bank Mergers and Acquisitions: Enhancing the Deposit Insurance Put Option versus Earnings Diversification,” (with Curt Hunter and Larry Wall), Journal of Money, Credit and Banking, 27, 1995 (August), 777-788
“Is the Banking and Payments System Fragile?” (with George G. Kaufman), Journal of Financial Services Research, 9, 1995, 209-240
“The Origins of and Justification for the Glass-Steagall Act,” in Financial Systems Design: Universal Banking Considered, Anthony Saunders and Ingo Walter, eds., NY: Business One Irwin, 1996, 31-69
“The Appropriate Role of Bank Regulation” (with George G. Kaufman), Economic Journal, 106, May 1996, 688-697
“The Case for Downsizing the Fed,” with David Humphrey, Banking Strategies, LXIII, January/February 1997, 30-37 (less two pages of advertising material)
“FDICIA After Five Years,” with George G. Kaufman, Journal of Economic Perspectives, 11, 1997 (Summer), 139-158
“Discrimination in Mortgage Lending: Why HMDA and CRA Should be Repealed,” Journal of Retail Banking Services, 19, 1997 (Autumn), 47-57
“Ingreso y Retiro de Bancos in América Latina y el Caribe: Preocupaciones por la Polítaca Publica y Propuesta de Solución,” Superbancaria, Superintendencia Barcaria de Colombia, Marzo de 1998, 25-36
“Banking Fragility, Effectiveness, and Regulation in Less-Developed Countries,” in Asia: An Analysis of Financial Crisis, William C. Hunter, George G. Kaufman, and Thomas H. Krueger, eds., Kluwer Academic Publishers, Norwell, MA., 1999, 269-289
“The Community Reinvestment Act: Looking for Discrimination That Isn’t There,” Policy Analysis, 354, October 1999, Cato Institute ( Washington, DC), 1-15
“Consumer Protection as a Justification for Regulating Financial Service Firms and Products,” Journal of Financial Services Research, 17, 2000, 277-301
“Is Government Regulation of Banks Necessary?,” Journal of Financial Services Research, 2001, Journal of Financial Services Research, 18, 2000, 185-202.
“Bank Capital Structure, Regulatory Capital, and Securities' Innovations” withPaul Irvine*, Jim Rosenfeld, and Joseph F. Sinkey, Jr., Journal of Money, Credit, and Banking, 35, 2003, 301-322.
“What’s Special About Banks?,” Financial Review, 2004, 13-33.
RESEARCH PAPERS IN CONGRESSIONAL HEARINGS
Committee on Government Operations, House of Representatives, Federal Regulation of Direct Investments by Savings and Loans and Banks and Condition of the Federal Deposit Insurance Funds , February 27-28, 1985:
“Direct Investments by Savings and Loan Associations: Return and Risk,” 505-571
“Savings and Loan Failures: An Analysis of Proximate Causes,” 572-622
“Growth, Return and Risk Among Savings and Loan Associations,” 623-683
Committee on Banking, Finance and Urban Affairs, Subcommittee on Financial Institutions, Supervision, Regulation and Insurance, House of Representatives, October 2, 1985:
“Investments By and the Failure of Savings and Loan Associations: An Analysis with Particular Concern for Direct Investments and Nonmortgage Loans”
ARTICLES (SELECTED) IN NON-ACADEMIC PUBLICATIONS AND SHORT ARTICLES
Abstract, “The Cost of Banking Operations: A Statistical Study,” Journal of Finance, XIX, 1964, 111-112
“Controls on Banking and 'A World Without Money',” Journal of Bank Research, 2, Winter 1972, 59-61
“Are Larger Banks More Efficient?,” The Banker ( England), June 1974, 605-610
“How We Can Learn From Past Bank Failures,” The Bankers Magazine, 158, Winter 1975, 19-24
“Why Did Congress Pass New Financial Service Laws in the 1930s? An Alternative Opinion,” Economic Review (Federal Reserve Bank of Atlanta), LXVII, April 1982, 7-10
“Financial Institutions,” in Manhattan Report on Economic Policy, Manhattan Institute for Policy Research, IV:1, 1984, 20-21
“An Examination of Deregulation,” American Banker, June 22, 1984, 8, 10, 12
“Justice's Revised Merger Guidelines Offer New Opportunities For Thrifts” (with Joseph W. Gelb and Leonard S. Simon), American Banker, September 13, 1983, pp. 6, 8, 18
“The Continental Illinois Rescue: Why the Government Can't Run a Bank” New York Times, Sunday Business Section, July 29, 1984, 3
“Will Foreign Loan Defaults Ruin Us?” Chief Executive, 31, Spring 1985, 22-25
“Look Before Leaping to Regulate Thrifts,” Wall Street Journal, November 12, 1985
“What Does Experience Tell Us About Competition?”, in Interstate Banking: Strategies for a New Era, Federal Reserve Bank of Atlanta, Quorum Books, 1985, 139-145
“The Bank Board Fiction of Regulatory Accounting Principles,” The American Banker, January 31, 1986
“Dealing with Poorly Capitalized Banks from the Perspective of the Deposit Insurance Agency,” Proceedings of the 27th Annual Conference on Bank Structure and Competition, Chicago: Federal Reserve Bank of Chicago, 1991, 358-372
“Why Not Bank Where You Buy a Car?,” New York Times, Sunday Business Section, March 2, 1986, p. 2
“Thrift Failures and Direct Investments” The Bankers Magazine, April/May, 1986, 55-61
“Stock crash clearly shows risk of betting on investor optimism,” Atlanta Journal-Constitution, November 2, 1987
“Misuse of Accounting Methods Helped Cause S&L Mess,” American Banker, March 8, 1989, p. 4
“How the [Savings and Loan] Industry Got into Trouble,” New York Times, Sunday Business Section, April 23, 1989, p. 1
“European banking after 1992 - lessons from America and Germany,” The Global Asset Manager (Credit Suisse), Spring, 1989, 38-40
“The Savings and Loan Crisis: What Lessons Have We Learned”, USA Today, 118, May 1990, 14-17
“Radical Surgery for Dying Banks,” New York Times, Friday, December 14, 1990 (editorial page)
“Financial Restructuring: Analyzing the Case Against Commercial Firms Owning Banks," Banking Policy Report, Vol. 10 No. 15, August 5, 1991, 4-7
“Don't Deform Bank Reform,” New York Times, Op-Ed, September 23, 1991, A4
“Let Banks Compete,” New York Times, Op-Ed, November 2, 1991
"History of U.S. Banking," in Encyclopedia Americana, Dunbury, CT: Grolier Inc, 1992, 174-176
“How to Forestall a Taxpayer Bank Bailout,” Wall Street Journal, Op-Ed Page, April 16, 1992
“Redlining - Or Color-Blindness,” New York Times, Op-Ed Page A15, May 12, 1992
“In Defense of FDICIA: Reply to Golembe” (with George G. Kaufman), The Golembe Reports, 1994-7, 8-14
“The Sins of Banking in the USA,” Economic Affairs ( UK), 15, Spring 1995, 18-23
“The History and Value of HMDA Data For Studies of Invidious Discrimination,” in Fair Lending Analysis: A Compendium of Essays on the Use of Statistics, Anthony M Yezer, ed., Washington DC: American Bankers Association, 1995, 5-12
Commercial Banking and Securities Activities: A Survey of the Risks and Returns (with George G. Kaufman), American Bankers Association, Washington DC, October 1995.
“What Should Bank Regulators Do? Why Should Regulators Do Anything?,” Proceedings: Rethinking Bank Regulation: What Should Regulators Do (32nd Annual Conference on Bank Structure and Competition), Federal Reserve Bank of Chicago, May 1996, 36-42.
“The FSA [UK Financial Services Authority] and consumer protection,” The Financial Regulator ( UK), December 1997, 34-36.
“Financial services regulation – US Style,” The Financial Regulator ( UK), June 1998, 25-26.
ACADEMIC REVIEWS AND COMMENTS
Review of The Money Market and Monetary Management, by G.W. Woodworth, American Economic Review, LV, December 1965, 1224-1226
Review of Analytics and Institutions of Money and Banking, by William J. Frazer, Jr. and William P. Yohe, Journal of Finance, XXI, September 1966, 588-590
Review of Competition and Controls in Banking, by David Alhadeff, Journal of Finance, XXIV, December 1969, 1006-1008
Comment on “Competition and Measures of Bank Performance,” by Eric Brucher, Journal of Finance, XXVII, June 1972, 722-723
“Discussion of the Hunt Commission Report,” Journal of Money, Credit and Banking, IV, November 1972, 985-989
Discussion of “A Revised Monetary Framework,” by Joseph W. Barr, in Policies for a More Competitive Financial System, Conference Series No. 8, Federal Reserve Bank of Boston, June 1972
Review of Bank Management and Portfolio Behavior, by Donald D. Hester and James L. Pierce, Journal of Finance, XXXI, December 1976, 1519-1522
Comments on three papers on “Early Warning System for Problem Financial Institutions - Efforts at the Federal Reserve Bank of New York, the FDIC and the Comptroller's Office,” in Financial Crises: Institutions and Markets in a Fragile Environment, ed. E.J. Altman, Wiley Interscience, New York, 1977, 58-61
Review of The Deregulation of the Banking and Securities Industries, Lawrence G. Goldberg and Lawrence G. White, eds., Journal of Money, Credit and Banking, XII, August 1980, 560-562
“Why Did Congress Pass New Financial Service Laws in the 1930s? An Alternative Opinion,” Economic Review (Federal Reserve Bank of Atlanta), LXVII, April 1982, 7-10
Review of State and Federal Regulation of Commercial Banks, by Leonard Lapidus and Others, Journal of Money, Credit and Banking, August 1983, 397-401
“Justice's Revised Merger Guidelines Offer New Opportunities For Thrifts” (with Joseph W. Gelb and Leonard S. Simon), American Banker, September 13, 1983, pp. 6, 8, 18
“What Does Experience Tell Us About Competition?”, in Interstate Banking: Strategies for a New Era, Federal Reserve Bank of Atlanta, Quorum Books, 1985, 139-145
Review of The Regulation of International Banking, by Richard Dale, The Banker ( U.K.), May 1985
Review of The Gathering Crisis in Federal Deposit Insurance by Edward J. Kane, The Banker ( U.K.), May 1986, 109-110
Comment, “The Role of Regulation for the Stability of Financial Institutions” Reserve Bank of Kansas City. (Originally presented at the Bank's Symposium on Debt, Financial Stability, and Public Policy, Jackson Hole, Wyoming, August), 1986
Review of The Changing Structure of American Banking, by Peter S. Rose, Journal of Economic Literature, XXVI (September) 1988, 1202-1204
Comment, “Party Realignments and the Growth of Federal Economic Regulation,” 1861-1986 by Kathleen A. Kemp, Journal of Financial Services Research, 2, September 1989, 227-229
Review of The Revolution in U.S. Finance by Robert E. Litan, Business History Review, 66, 1992 (Winter), 66, 806-809
Comment (with George G. Kaufman) on “Deposit insurance reform: a functional approach” by Robert Merton and Zvi Bodie, Carnegie-Rochester Conference Series on Public Policy, 38, 1993 (June), 41-50
Comment on “Management and organizational changes in banking: a comparison of regulatory intervention with private creditor actions in nonbank firms” by Joel Houston and Christopher James, Carnegie-Rochester Conference Series on Public Policy, 38, June 1993, 179 - 190
Comment on “Financial Repression and the Capital Crunch Recession: Political and Regulatory Barriers to Growth Economics,” by Glenn Yago and on "Bank Capitalization Standards, the Credit Crunch, and Resource Allocation under Regulation," by Benjamin Zycher, Economic Policy, Financial Markets, and Economic Growth, Benjamin Zycher and Lewis C. Solomon, eds., The Milken Institute Series in Economics and Education, Westview Press, Boulder, CO., 1993, 135-156
Review of Comptetitive Strategies in European Banking by Jordi Canals, The Journal of Economic Literature, XXXIII, March 1995, 232-233
“Narrow Banking - Costs and Benefits,” Comment on “Does Argentina Provide a Case for Narrow Banking?” by Roque Fernandez and Liliana Schumacher, in Preventing Banking Sector Distress and Crises in Latin America, Suman K. Bery and Valeriano F. Garcia, The World Bank, Washington DC, 1997, 35-39.
Comment on “Make or Buy? Approaches to Financial Market Integration,” by Michael Gavin and Ricardo Hauseman, in Safe and Sound Financial Systems: What Works for Latin America , Liliana Rojas-Suarez, ed., Washington DC: Inter-American Development Bank, 1997, 170-173.
“Regulation of Stock Trading: Private Exchanges vs. Government Agencies,” Virginia Law Review, 83, October 1997, 1501-1507.
Review of U.S. Bank Deregulation in Historical Perspective By Charles W. Calomiris, (Cambridge University Press, 2000), Cato Journal, 2001.
Urban Studies
MONOGRAPH
An Empirical Study of Mortgage Redlining, with Dan Horsky and H. Martin Weingartner, Monograph Series in Financial and Economics, Salomon Brothers Centers for the Study of Financial Institutions, New York University, Monograph 1978-5, 110 pp.
ARTICLES IN ACADEMIC JOURNALS AND PUBLICATIONS
“Urban Decline and Redlining,” in Innovations and New Directions in the U.S. Financial System: Implications for Real Estate Markets and Investments, Real Estate Chair Lecture Series, John M. Clapp, ed., Housing,. Real Estate & Urban Land Studies Program, Urban Resources Center, Graduate School of Management University of California, Los Angeles, December 1977, 63-84
The Anti-Redlining Rules: An Analysis of the Federal Home Loan Bank Board's Proposed Nondiscrimination Requirements , Law and Economics Center ( University of Miami) occasional Paper, February 1978, 19 pp.
“The Urban Financing Dilemma Reconsidered,” in Urban Housing (Proceedings of the Fourth Annual Conference), Federal Home Loan Bank of San Francisco, December 1978, 102-149
“Redlining and the Demand for Mortgages in the Central City and Suburbs” (with Dan Horsky), Journal of Bank Research, 10, Summer 1979, 72-87
“Mortgage Redlining Research: A Review and Critical Analysis,” in The Regulation of Financial Institutions, Conference Series No. 21, October 1979, Federal Reserve Bank of Boston, 144-195. (The paper excluding the appendix also is published in the Journal of Bank Research, 12, Spring 1981, 8-23.
“The Relationship Between the Demand and Supply of Home Financing and Neighborhood Characteristics: An Empirical Study of Mortgage Redlining,” with Dan Horsky, Journal of Financial Services Research, 5, 1991, 235-260
ARTICLES IN NON-ACADEMIC PUBLICATIONS AND COMMENTS
“The Persistent Myth of Redlining,” Fortune Magazine, March 13, 1978, 66-69 (Reprinted in a number of very widely circulated real estate and appraisal publications)
“Discrimination in Home Improvement Loans: Comment on a Rejoinder,” Journal of Bank Research, 13, 1982 (Autumn), 207-208
“Charges of redlining have little foundation in fact,” Atlanta Journal-Constitution, June 19, 1988
“The History and Value of HMDA Data for Studies of Invidious Discrimination,” in Fair Lending Analysis: A Compedium of Essays on the Use of Statistics , Anthony M. Yezer, ed., Washington, DC: American Bankers Association, 1995, 5-12
“Discrimination in Financial Services: What Don't We Know?,” Journal of Financial Services Research, special issue on discrimination in mortgage lending, 11, 1997, 209-213.
Economics (not included above)
MONOGRAPH
Conglomerate Mergers: Causes, Consequences and Remedies , American Enterprise Institute, 1980, 76 pp. (An earlier version, sponsored by The Business Roundtable, was prepared for and presented to the Subcommittee on Antitrust, Monopoly and Business Rights of the U.S. Senate Committee on the Judiciary on S.600, The Small and Independent Business Protection Act of 1979, May 17, 1979)
ARTICLES IN ACADEMIC JOURNALS AND PUBLICATIONS
“The Joint Float and Monetary Union,” International Currency Review, 5, March-April, 1973, 32pp
“Should Line-of-Business Reporting be Expanded?”, The Attack on Corporate America: The Corporate Issues Sourcebook, Law and Economics Center, University of Miami, M. Bruce Johnson, ed., McGraw-Hill, 1978, 111-115
“Economic Analysis as a Device for Resolving Complex Legal - Competitive Problems,” in Processes for Clarifying Complex Antitrust Issues, The Conference Board Information Bulletin No. 43, August 1978
“The Federal Trade Commission's Line of Business Report Program: A Benefit-Cost Analysis,” in Business Disclosure: Government's Need to Know , Harvey Goldschmid, ed., New York: McGraw-Hill, 1979, 58-118
“Accounting for Corporate Governance and Social Responsibility,” in Corporate Governance: Past and Future, Henry G. Manne, ed., The ITT Key Issues Lecture Series, K.C.G. Publications, New York, 1982, 70-123
“Accounting Numbers and Economic Values,” The Antitrust Bulletin, XXVII, Spring 1982, 161-215
“The Economics of Gender Discrimination in Employee Fringe Benefits: Manhart Revisited,” University of Chicago Law Review, 49, Spring 1982, 489-542
“Discrimination and Economic Efficiency in Employee Fringe Benefits: A Clarification of Issues and Responses to Professors Brilmayer, Laycock and Sullivan,” University of Chicago Law Review, 50, Winter 1983, 250-279
“The Validity of Profits-Structure Studies with Particular Reference to the FTC's Line of Business Data” American Economic Review, 75, March 1985, 37-67
“A Comprehensive Analysis of the Determinants of Private Antitrust Litigation, with Particular Emphasis on Class Action Suits and the Rule of Joint and Several Damages,” in Lawrence J. White, ed., Private Antitrust Litigation: New Evidence, New Learning, Boston MA: MIT Press, 1988, 271-328. (An earlier version was presented at the Georgetown Conference on Private Antitrust Litigation, November 1985.)
“Indirect Purchasers' Standing to Claim Damages in Price-Fixing Antitrust Actions: A Benefit/Cost Analysis of Proposals to Change the Illinois Brick Rule,” Antitrust Law Journal, 55, Issue 1, 1986, 213-249. (An earlier version presented in Testimony between the U.S. Senate Committee on Judiciary, May 16, 1984; also presented to the Civil Practice and Procedure Committee of the American Bar Association, April 1986)
“Government Constraints on Political, Artistic, and Commercial Speech,” Connecticut Law Review, 20, 1988, 303-324.
REVIEWS AND COMMENTS
“A Non-Cure for Small Disease,” Forum, I, Winter 1972 (The University of Rochester)
“The Baffling New Numbers Game at the FTC,” Fortune Magazine, October 1975, 174-179.
“Interest Rates are a Random Walk Too,” Fortune Magazine, April 1976, p. 105 ff.
“Differences in Perceptions,” in Concentration: Issues; Convictions and Facts, The Conference Board Antitrust Forum, Information Bulletin No. 9, August 1976
“Framing the Questions,” in Articulating the Tensions: Social, Political and Economic Components of Competition, Antitrust Forum, The Conference Board, Information Bulletin No. 29, October 1977
“Misperceptions of Competition,” in Antitrust and Corporate Responsibility, Antitrust Forum, The Conference Board, Information Bulletin No. 43, 1978
(The above three brief articles are reprinted in Industrial Concentration and the Market System: Legal, Economic, Social and Political Perspectives, Eleanor M. Fox and James T. Halverson, eds., Section of Antitrust Law, American Bar Association, ABA Press, 1979)
Comment on “On Understanding the Birth and Evolution of the Securities and Exchange Commission: Where Are We in the Theory of Regulation?” by Robert Mackay and Joseph Reid, in Regulatory Change in an Atmosphere of Crisis: Current Implications of the Roosevelt Years, Gary Walton, ed., Academic Press, New York, 1979, 123-127
Other
ARTICLES IN ACADEMIC JOURNALS AND PUBLICATIONS
“Good Teaching and the ambitious University” Improving College and University Teaching, 21, 1973 (Winter), 40-42, 45. (A similar version, “The Value of Good Teaching to the Ambitious University,” appears in Rochester Review, Spring 1972, 22-25)
“Student and Department Chairman Views of the Performance of University Professor,” with Daniel N. Braunstein, Journal of Applied Psychology, 58 (1973, No. 2), 224-249. (Research funded by a grant from the Esso Education Foundations)
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