Cra's 25th Anniversary: The Past, Present, and Future
This paper focuses on the past, present, and future rules and regulations implementing CRA as developed, applied, and enforced by the federal bank and thrift regulators. The past rules and regulations refer to those in effect during the law's first 18 years, through 1995, when CRA underwent its first major reform. The present CRA rules and regulations were adopted then, with the mandate that they would be reviewed for possible reform in 2002. The future rules and regulations are being drafted now by the regulators, based on their review of approximately 400 public comments; the reform recommendations should be released sometime during the second half of 2002. The future of CRA's legacy as arguably the perfect fair market regulation in a world of Compassionate Capitalism will depend upon the direction of these reforms. Optimal public policy by the bank and thrift regulators in this regard must represent the ideal balance between competing consumer and industry interests. This paper represents the first comprehensive analysis of the public comments and concludes with specific recommendations that will lead to optimal public policy.
The Community Reinvestment Act and Targeted Mortgage Lending
We analyze residential mortgage lending by banks in periods surrounding upgrades or downgrades in their ratings under the Community Reinvestment Act (CRA). Empirical results indicate that upgraded banks had higher relative levels of lending than did downgraded banks prior to ratings changes. Additionally, both downgraded and upgraded banks increased lending following implementation of reforms to the CRA in the 1990s, which were intended to more closely align rating assessment with lending outcomes. Little support is provided, on the other hand, for a hypothesis that banks respond to downgrades by increasing lending (despite apparent incentives for them to do so). Copyright (c) 2010 The Ohio State University.
Managerial Economics and Organizational Architecture
PART 1: Basic Concepts Chapter 1: Introduction Chapter 2: Economists' View of Behavior Chapter 3: Markets, Organizations, and the Role of Knowledge PART 2: Managerial Economics Chapter 4: Demand Chapter 5: Production and Cost Chapter 6: Market Structure Chapter 7: Pricing with Market Power Chapter 8: Economics of Strategy: Creating and Capturing Value Chapter 9: Economics of Strategy: Game Theory Chapter 10: Incentive Conflicts and Contracts PART 3: Designing Organizational Architecture Chapter 11: Organizational Architecture Chapter 12: Decision Rights: The Level of Empowerment Chapter 13: Decision Rights: Bundling Tasks into Jobs and Subunits Chapter 14: Attracting and Retaining Qualified Employees Chapter 15: Incentive Compensation Chapter 16: Individual Performance Evaluation Chapter 17: Divisional Performance Evaluation Capstone Case Study on Organizational Architecture: Arthur Andersen LLP PART 4: Applications of Organizational Architecture Chapter 18: Corporate Governance Chapter 19: Vertical Integration and Outsourcing Chapter 20: Leadership: Motivating Change within Organizations Chapter 21: Understanding the Business Environment: The Economics of Regulation Chapter 22: Ethics and Organizational Architecture Chapter 23: Organizational Architecture and the Process of Management Innovation Glossary Index