Real interest rates and the savings and loan crisis: the moral hazard premium

Article Abstract:

The tremendous increase in real interest rates in the 1980s is explained. The increase in real interest rates is seen as the cause of such an increase are the huge federal government deficit, expansionary fiscal and anti-inflationary policies and the inelastic response of inflationary tendencies to the disinflation that occurred in the early 1980s. Such popular explanations, however, have their shortcomings. In their place, a new explanation is suggested. The crisis in the savings and loan industry as well as government's response to it may have spawned the present upsurge in interest rates.

Author: Shoven, John B., Smart, Scott B., Waldfogel, Joel
Banking industry, Economic aspects, Interest rates, Savings and Loan Associations Bailout Crisis, 1987-

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Accounting for stock options

Article Abstract:

The history of stock options expense valuation methods is examined. It is shown that the new Financial Accounting Standards Board (FASB) approach is flawed and an alternative options expense valuation method, the Bulow-Shoven model, is advanced and assessed.

Author: Shoven, John B., Bulow, Jeremy
United States, Methods, History, Stock options, Powers and duties, Financial Accounting Standards Board, Expense accounting

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The New York Times and the market for local newspapers

Article Abstract:

The market share of New York Times in news paper industry of New York is discussed.

Author: Waldfogel, Joel, George, Lisa M.
Sales & consumption, Newspapers, Market share, New York, Newspaper publishing, New York Times Co., NYT, Company market share, Market size

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