Refereed Journal Publications

• "Return Dependence and the Limits of Product Diversification in Financial Firms," with Thomas B. Fomby and Jian Hu, Journal of Money, Credit, and Banking, forthcoming.
• "Early Warning Models in Real Time," with Robert R. Moore, Journal of Banking and Finance 27, October 2003, 1979–2001.
  
• "Loss Underreporting and the Auditing Role of Bank Exams," with Robert R. Moore, Journal of Financial Intermediation 12, April 2003, 153–77.
  
• "Safety and Soundness and the CRA: Is There a Conflict?" Economic Inquiry 40, July 2002, 470–84.
  
• "Adverse Selection and Competing Deposit Insurance Systems in Pre-Depression Texas," with Linda M. Hooks and Kenneth J. Robinson, Journal of Financial Services Research 17, September 2000, 237–58.
  
• "Predicting Bank Failures: A Comparison of On- and Off-Site Monitoring Systems," with Rebel A. Cole, Journal of Financial Services Research 13, April 1998, 103–17.
  
• "Mexican Banks and the 1994 Peso Crisis: The Importance of Initial Conditions," with Robert R. Moore and Genie D. Short, North American Journal of Economics and Finance 7, December 1996, 125–33.
  
• "Separating the Likelihood and Timing of Bank Failure," with Rebel A. Cole, Journal of Banking and Finance 19, September 1995, 1073–89.
  
• "Bank Credit and Economic Activity: Evidence from the Texas Banking Decline," with Cara S. Lown and Kenneth J. Robinson, Journal of Financial Services Research 9, January 1995, 31–48.
  
• "Regional Capital Imbalances and the Removal of Interstate Banking Restrictions," Economics Letters 44, April 1994, 439–42.
  
• "Crédito y Actividad Económica en México," with Robert R. Moore, Economía Mexicana, nueva época 2, December 1993, 415–28.
  
• "Increasing the Efficiency of Pooled Estimation with a Block-Diagonal Covariance Structure," with Ronald H. Schmidt, Annals of Regional Science 27, June 1993, 133–42.

Contributions to Collective Volumes

• "Universal Access, Cost Recovery, and Payment Services," with Sujit Chakravorti and Robert R. Moore, in Financial Institutions and Markets: The Financial Crisis–An Early Retrospective, Robert R. Bliss and George G. Kaufman, eds., New York: Palgrave Macmillan, December 2010, 225–40.
  
• "The Likelihood and Extent of Banks' Involvement with Interest Rate Derivatives as End Users," with Thomas F. Siems, in Research in Finance 19 (Andrew H. Chen, ed.), 2002, 125–42.
  
• "U.S. Banks, Competition, and the Mexican Banking System: How Much Will NAFTA Matter?" with William C. Gruben and John H. Welch, in NAFTA and Trade Liberalization in the Americas (Elsie Echeverri-Carroll, ed.), Bureau of Business Research in cooperation with the IC² Institute, University of Texas at Austin, November 1995, 97–132.
  
• "Empirically Assessing the Role of Moral Hazard in Increasing the Risk Exposure of Texas Banks," with Kenneth J. Robinson, Federal Reserve Bank of Chicago Proceedings of a Conference on Bank Structure and Competition, May 1991, 199–220.

Policy and Trade Journal Publications

• "Small Banks Far from Thriving, Partly Because of Credit Unions," with Robert R. Moore, American Banker, August 20, 2004, 10.
  
• "Should CRA Stand for 'Community Redundancy Act'?" Cato Institute, Regulation 23, No. 3, 2000, 56–60.
  
• "Actividad Macroeconómica y condiciones del crédito en México," with Robert R. Moore, Revista Bimestral de la Comisión Nacional Bancaria, November/December 1993, 43–7.
  
• "Deficit Reduction and Financial Liberalization: A Mexican Triumph," with Genie D. Short and Robert R. Moore, Mexican Business Review, October 1993, 17–9.
  
• "Restructuring the Texas Thrift Industry: Implications for U.S. Financial Institutions," with Genie D. Short, Bankers Magazine, March/April 1989, 15–21.
  
• "Oil Price Volatility Increases Importance of Crude Oil Futures," Energy in the News, New York Mercantile Exchange, Fourth Quarter 1986, 28.

Federal Reserve Publications

• "Financiers of the World, Disunite," with Jiaqi Chen, Economic Letter, November 2011
• "Cycle-Resistant Credit Systems: Learning from Hong Kong's Experience," with Ying Guan and Sophia Tsai, Economic Letter, June 2010.
  
• "Taming the Credit Cycle by Limiting High-Risk Lending," Economic Letter, June 2009.
• "Hedge Fund Investors More Rational Than Rash," with Anna Zhang, Economic Letter, August 2007.
  
• "Has the Housing Boom Increased Mortgage Risk?" with Robert R. Moore, Southwest Economy, September/October 2005, 1–6.
  
• "Small Banks' Competitors Loom Large," with Robert R. Moore, Southwest Economy, January/February 2004, 1 and 9–13.
  
• "Debunking Derivatives Delirium," with Thomas F. Siems, Southwest Economy, March/April 2003, 1 and 5–9.
  
• "Auditing the Auditors: Oversight or Overkill?" with Robert R. Moore, Economic and Financial Policy Review, Vol. 1, No. 5, 2002.
  
• "Can the Stock Market Tell Bank Supervisors Anything They Don't Already Know?" with Robert R. Moore, Economic and Financial Review, Second Quarter 2001, 2–9.
  
• "Financial Statements and Reality: Do Troubled Banks Tell All?" with Robert R. Moore, Economic and Financial Review, Third Quarter 2000, 30–5.
  
• "Between a Rock and a Hard Place: The CRA–Safety and Soundness Pinch," Economic and Financial Review, Second Quarter 1999, 32–41.
  
• "Industry Mix and Lending Environment Variability: What Does the Average Bank Face?" with Kenneth J. Robinson, Economic and Financial Review, Second Quarter 1999, 24–31.
  
• "Redlining or Red Herring?" with Kelly Klemme and Kenneth J. Robinson, Southwest Economy, May/June 1999, 8–13.
  
• "Are Capital Requirements Effective? A Cautionary Tale from Pre-Depression Texas," with Linda M. Hooks and Kenneth J. Robinson, Financial Industry Studies, August 1997, 1–11.
  
• "Bank Consolidation: When Less Means More," Financial Industry Studies, December 1996, 1–8.
  
• "A CAMEL Rating's Shelf Life," with Rebel A. Cole, Financial Industry Studies, December 1995, 13–20.
  
• "Who's Capitalizing on Derivatives?" with Thomas F. Siems, Financial Industry Studies, July 1995, 1–8.
  
• "FIMS: A New Monitoring System for Banking Institutions," with Rebel A. Cole and Barbara G. Cornyn, Federal Reserve Bulletin 81, Board of Governors of the Federal Reserve System, January 1995, 1–15.
  
• "When Are Failing Banks Closed?" with Rebel A. Cole, Financial Industry Studies, December 1994, 1–12.
  
• "Banking Panics and the Creation of the Federal Reserve System," with Robert R. Moore, Economic Study Guide, Fall 1994, 5–7.
  
• "U.S. Banks, Competition, and the Mexican Banking System: How Much Will NAFTA Matter?" with William C. Gruben and John H. Welch, Financial Industry Studies, October 1993, 11–25.
  
• "The Movement Toward Nationwide Banking: Assessing the Role of Regional Banking Difficulties," Financial Industry Studies, December 1992, 1–9.
  
• "The Texas Credit Crunch: Fact or Fiction?" with Kenneth J. Robinson, Financial Industry Studies, June 1991, 1–10.
  
• "Moral Hazard and Texas Banking in the 1980s: Was There a Connection?" with Kenneth J. Robinson, Financial Industry Studies, December 1990, 1–7.
  
• "Financial Strategies and Performance of Newly Established Texas Banks," Financial Industry Studies, December 1990, 9–14.
  
• "Texas Banking Conditions: Managerial Versus Economic Factors," Financial Industry Studies, October 1989, 1–18.
  
• "The Texas Thrift Situation: Implications for the Texas Financial Industry," with Genie D. Short, Financial Industry Studies, September 1988, 1–11.
  
• "Problem Loans and the Profitability of Eleventh District Commercial Banks in 1986," with Robert T. Clair, Economic Review, November 1987, 15–27.

Education

• Ph.D., Economics, 1995, Southern Methodist University.