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Research Programs
Deposit Insurance
This research program focuses on deposit insurance principles, practices and policies. Sample topics: deposit insurance pricing, measurement of fund exposure, insurance industry best practices, reinsurance, moral hazard and safety-net protection, too-big-to fail, least-cost failure resolution, firewalls within financial conglomerates.
Risk Measurement
State-of-the-art risk metrics and analysis contribute to sound financial management for the FDIC as well as insured institutions. Sample topics: market risk measurement, firms' internal risk measurement models, credit-risk scoring, stress-testing, loan pricing, credit derivatives, impact of supervisory restrictions, risk monitoring tools and systems.
Bank Performance & the Economy
Banking's role in and linkages to the larger economy and financial system are explored in this research program. Sample topics: the role of banks in the transmission of monetary policy, banks as liquidity providers, the role of underwriting standards in credit cycles, the impact of bank capital requirements on credit allocation, the effect of local and national economic conditions on bank performance, determinants of banks' share of financial services markets, banks as delegated monitors.
Corporate Finance
This research program will contribute to the continuing enhancement of best practices in an environment of rapid financial evolution. Sample topics: how corporations can, should and do fund themselves, capital budgeting, the cost of capital, loan and securities pricing, securitization, financial engineering and innovation, the role of managerial incentives in financing decisions, ownership structures, corporate governance. Risk management papers in this research line differ from those in the "Risk Measurement" track by their specific application to corporate settings, as opposed to general methodological contributions.
Consumer Finance and Credit Issues
The field of consumer finance includes the products, services and distribution practices which provide households with savings and investment, credit, insurance, payment systems, tax preparation, and other financial services. Papers may study a variety of institutions ranging from depository institutions, investment managers, brokers, financial advisors and others, and may take the perspective of consumers, business providers, regulators or courts. Researchers may employ methods from economics or other disciplines. Papers will deepen our understanding of how consumers make financial decisions, how businesses design and deliver financial products and advice, and how courts and regulation affects the provision of these services.
Policy & Regulation
Research in this area will focus on the elements of sound policymaking and effective regulation with minimal distortions and unintended consequences. Sample topics: the supervision and regulation of insured depository institutions, the financial safety net and government policy toward troubled financial institutions, the impact of deregulation on financial industry performance, corporate governance at financial institutions, government's optimal role in securities markets, antitrust and competition policy in financial services, financial regulation motivated by social and/or political goals, reform of the current financial regulatory agency structure.
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