Author Page for Loretta J. Mester

Efficiency in Banking: Theory, Practice, and Evidence

FRB of Philadelphia Working Paper No. 08-1

Number of pages: 32 Posted: 15 Feb 2008

Joseph P. Hughes and Loretta J. Mester

Rutgers, The State University of New Jersey - Department of Economics and Federal Reserve Banks - Federal Reserve Bank of Cleveland

Downloads 2,520 (6,239)

Citation 16

Abstract:

2.

Measuring the Performance of Banks: Theory, Practice, Evidence, and Some Policy Implications

Oxford Handbook of Banking, 2nd edition, 2013, Forthcoming, FRB of Philadelphia Working Paper No. 13-31

Number of pages: 36 Posted: 06 Aug 2013

Joseph P. Hughes and Loretta J. Mester

Rutgers, The State University of New Jersey - Department of Economics and Federal Reserve Banks - Federal Reserve Bank of Cleveland

Downloads 1,461 (15,059)

Citation 8

Abstract:

3.

Inside the Black Box: What Explains Differences in the Efficiencies of Financial Institutions?

Board of Governors of the Federal Reserve System Working Paper No. 1997-10

Number of pages: 59 Posted: 29 Nov 1998

Allen N. Berger and Loretta J. Mester

University of South Carolina - Darla Moore School of Business and Federal Reserve Banks - Federal Reserve Bank of Cleveland

Downloads 1,415 (15,861)

Citation 67

Abstract:

4.

What Explains the Dramatic Changes in Cost and Profit Performance of the U.S. Banking Industry?

Working Paper No. 99-1

Number of pages: 48 Posted: 02 Apr 1999

Allen N. Berger and Loretta J. Mester

University of South Carolina - Darla Moore School of Business and Federal Reserve Banks - Federal Reserve Bank of Cleveland

Downloads 696 (43,957)

Citation 17

Abstract:

5.

Are Scale Economies in Banking Elusive or Illusive? Evidence Obtained by Incorporating Capital Structure and Risk-Taking into Models of Bank Production

FRB of Philadelphia Working Paper No. 00-04

Number of pages: 46 Posted: 21 Aug 2000

Loretta J. Mester, Joseph P. Hughes and Choon-Geol Moon

Federal Reserve Banks - Federal Reserve Bank of Cleveland, Rutgers, The State University of New Jersey - Department of Economics and Hanyang University

Downloads 623 (50,877)

Citation 18

Abstract:

6.

Explaining the Dramatic Changes in Performance of U.S. Banks: Technological Change, Deregulation, and Dynamic Changes in Competition

FRB Philadelphia Working Paper No. 01-6

Number of pages: 43 Posted: 14 Sep 2001

Allen N. Berger and Loretta J. Mester

University of South Carolina - Darla Moore School of Business and Federal Reserve Banks - Federal Reserve Bank of Cleveland

Downloads 589 (54,748)

Citation 32

Abstract:

7.

Checking Accounts and Bank Monitoring

FRB of Philadelphia Working Paper No. 01-3

Number of pages: 39 Posted: 01 May 2001

Loretta J. Mester, Leonard I. Nakamura and Micheline Renault

Federal Reserve Banks - Federal Reserve Bank of Cleveland, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and University of Quebec at Montreal

Downloads 459 (74,669)

Citation 28

Abstract:

8.

Who Said Large Banks Don't Experience Scale Economies? Evidence from a Risk-Return-Driven Cost Function

Downloads 428 ( 81,142)

Citation 47

2

Who Said Large Banks Don't Experience Scale Economies? Evidence from a Risk-Return-Driven Cost Function

Forthcoming in the Journal of Financial Intermediation , FRB of Philadelphia Working Paper No. 13-13

Number of pages: 50 Posted: 26 Apr 2013 Last Revised: 25 Mar 2016

Joseph P. Hughes and Loretta J. Mester

Rutgers, The State University of New Jersey - Department of Economics and Federal Reserve Banks - Federal Reserve Bank of Cleveland

Downloads 299 (120,815)

Citation 2

Abstract:

Who Said Large Banks Don't Experience Scale Economies? Evidence from a Risk-Return-Driven Cost Function

FRB of Philadelphia Working Paper No. 11-27

Number of pages: 39 Posted: 04 Aug 2011

Joseph P. Hughes and Loretta J. Mester

Rutgers, The State University of New Jersey - Department of Economics and Federal Reserve Banks - Federal Reserve Bank of Cleveland

Downloads 129 (262,219)

Citation 57

Abstract:

9.

On the Profitability and Cost of Relationship Lending

97-43

Number of pages: 34 Posted: 13 Jan 1998

Mitchell Berlin and Loretta J. Mester

Federal Reserve Bank of Philadelphia - Research Department and Federal Reserve Banks - Federal Reserve Bank of Cleveland

Downloads 427 (81,376)

Citation 5

Abstract:

10.

Do Bankers Sacrifice Value to Build Empires? Managerial Incentives, Industry Consolidation, and Financial Performance

Downloads 393 ( 89,595)

Citation 10

2

Do Bankers Sacrifice Value to Build Empires? Managerial Incentives, Industry Consolidation, and Financial Performance

FRB of Philadelphia Working Paper No. 02-2

Number of pages: 43 Posted: 20 Jun 2002

Joseph P. Hughes, Michael S. Pagano, William W. Lang, Loretta J. Mester and Choon-Geol Moon

Rutgers, The State University of New Jersey - Department of Economics, Villanova University - Villanova School of Business, Promontory Financial Group, Federal Reserve Banks - Federal Reserve Bank of Cleveland and Hanyang University

Downloads 393 (88,831)

Citation 10

Abstract:

Do Bankers Sacrifice Value to Build Empires? Managerial Incentives, Industry Consolidation, and Financial Performance

Posted: 02 Sep 2002

Joseph P. Hughes, Michael S. Pagano, William W. Lang, Loretta J. Mester and Choon-Geol Moon

Rutgers, The State University of New Jersey - Department of Economics, Villanova University - Villanova School of Business, Promontory Financial Group, Federal Reserve Banks - Federal Reserve Bank of Cleveland and Hanyang University

Abstract:

11.

Transactions Accounts and Loan Monitoring

FRB of Philadelphia Working Paper No. 05-14

Number of pages: 45 Posted: 14 Sep 2005

Loretta J. Mester and Leonard I. Nakamura

Federal Reserve Banks - Federal Reserve Bank of Cleveland and Federal Reserve Banks - Federal Reserve Bank of Philadelphia

Downloads 355 (100,732)

Citation 22

Abstract:

12.

Applying Efficiency Measurement Techniques to Central Banks

FRB of Philadelphia Working Paper No. 03-13

Number of pages: 40 Posted: 18 Aug 2004

Loretta J. Mester

Federal Reserve Banks - Federal Reserve Bank of Cleveland

Downloads 263 (138,958)

Citation 9

Abstract:

13.

Switching Costs and Adverse Selection in the Market for Credit Cards: New Evidence

Journal of Banking and Finance, Vol. 30, No. 6, 2006, FRB Philadelphia Working Paper No. 05-16

Number of pages: 46 Posted: 09 Sep 2005 Last Revised: 22 Nov 2019

Paul S. Calem, Michael B. Gordy and Loretta J. Mester

Federal Reserve Banks - Federal Reserve Bank of Philadelphia, Board of Governors of the Federal Reserve System and Federal Reserve Banks - Federal Reserve Bank of Cleveland

Downloads 259 (141,147)

Citation 16

Abstract:

14.

Optimal Industrial Structure in Banking

FRB of Philadelphia Working Paper No. 08-2

Number of pages: 43 Posted: 15 Feb 2008

Loretta J. Mester

Federal Reserve Banks - Federal Reserve Bank of Cleveland

Downloads 253 (144,475)

Citation 7

Abstract:

15.

Optimal Financial Contracts for Large Investors: The Role of Lender Liability

FRB Philadelphia Working Paper No. 00-1

Number of pages: 35 Posted: 29 Mar 2000

Mitchell Berlin and Loretta J. Mester

Federal Reserve Bank of Philadelphia - Research Department and Federal Reserve Banks - Federal Reserve Bank of Cleveland

Downloads 194 (185,820)

Citation 1

Abstract:

16.

Potential Competitive Effects on U.S. Bank Credit Card Lending from the Proposed Bifurcated Application of Basel Ii

FRB Philadelphia Working Paper No. 05-29

Number of pages: 80 Posted: 16 Jan 2006

William W. Lang, Loretta J. Mester and Todd Vermilyea

Promontory Financial Group, Federal Reserve Banks - Federal Reserve Bank of Cleveland and Federal Reserve Bank of Philadelphia

Downloads 183 (195,844)

Citation 2

Abstract:

17.

Financial Contracts and the Legal Treatment of Informed Investors

Working Paper No. 99-10

Number of pages: 42 Posted: 29 Sep 1999

Mitchell Berlin and Loretta J. Mester

Federal Reserve Bank of Philadelphia - Research Department and Federal Reserve Banks - Federal Reserve Bank of Cleveland

Downloads 167 (211,884)

Abstract:

18.

Transaction Accounts and Loan Monitoring

FRB of Philadelphia Working Paper No. 04-20

Number of pages: 44 Posted: 28 Oct 2004

Loretta J. Mester, Leonard I. Nakamura and Micheline Renault

Federal Reserve Banks - Federal Reserve Bank of Cleveland, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and University of Quebec at Montreal

Downloads 165 (213,950)

Citation 14

Abstract:

19.

Recovering Risky Technologies Using the Almost Ideal Demand System: An Application to U.S. Banking

FRB of Philadelphia Working Paper No. 00-05

Number of pages: 34 Posted: 21 Aug 2000

Loretta J. Mester, Joseph P. Hughes, William W. Lang and Choon-Geol Moon

Federal Reserve Banks - Federal Reserve Bank of Cleveland, Rutgers, The State University of New Jersey - Department of Economics, Promontory Financial Group and Hanyang University

Downloads 139 (246,564)

Citation 3

Abstract:

20.

Core Measures of Inflation as Predictors of Total Inflation

Downloads 133 (255,235)

Citation 8

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Core Measures of Inflation as Predictors of Total Inflation

FRB of Philadelphia Working Paper No. 11-24

Number of pages: 29 Posted: 02 Jul 2011 Last Revised: 04 Aug 2011

Theodore M. Crone, N. Neil K. Khettry, Loretta J. Mester and Jason Novak

Swarthmore College, Murray, Devine and Company, Federal Reserve Banks - Federal Reserve Bank of Cleveland and Federal Reserve Banks - Federal Reserve Bank of Philadelphia

Downloads 78 (368,339)

Citation 7

Abstract:

Core Measures of Inflation as Predictors of Total Inflation

FRB of Philadelphia Working Paper No. 08-9

Number of pages: 40 Posted: 06 Sep 2008 Last Revised: 21 Nov 2019

Jason Novak, Theodore M. Crone, Loretta J. Mester and N. Neil K. Khettry

Federal Reserve Banks - Federal Reserve Bank of Philadelphia, Swarthmore College, Federal Reserve Banks - Federal Reserve Bank of Cleveland and Murray, Devine and Company

Downloads 55 (443,917)

Citation 1

Abstract:

21.

Central Bank Institutional Structure and Effective Central Banking: Cross Country Empirical Evidence

FRB of Philadelphia Working Paper No. 08-5, BOFIT Discussion Paper No. 29/2008

Number of pages: 40 Posted: 29 Apr 2008

Iftekhar Hasan and Loretta J. Mester

Fordham University and Federal Reserve Banks - Federal Reserve Bank of Cleveland

Downloads 111 (291,318)

Citation 6

Abstract:

22.

Large Capital Infusions, Investor Reactions, and the Return and Risk Performance of Financial Institutions Over the Business Cycle and Recent Financial Crisis

FRB of Philadelphia Working Paper No. 11-46

Number of pages: 37 Posted: 12 Oct 2011 Last Revised: 10 Dec 2015

Elyas Elyasiani, Loretta J. Mester and Michael S. Pagano

Temple University - Department of Finance, Federal Reserve Banks - Federal Reserve Bank of Cleveland and Villanova University - Villanova School of Business

Downloads 104 (304,789)

Citation 12

Abstract:

23.

Large Capital Infusions, Investor Reactions, and the Return and Risk-Performance of Financial Institutions Over the Business Cycle

Downloads 102 (308,821)

2

Large Capital Infusions, Investor Reactions, and the Return and Risk-Performance of Financial Institutions Over the Business Cycle

Journal of Financial Stability 11 (2014) 62-81, Fox School of Business Research Paper

Number of pages: 20 Posted: 17 Jun 2014

Elyas Elyasiani, Loretta J. Mester and Michael S. Pagano

Temple University - Department of Finance, Federal Reserve Banks - Federal Reserve Bank of Cleveland and Villanova University - Villanova School of Business

Downloads 67 (401,492)

Abstract:

Large Capital Infusions, Investor Reactions, and the Return and Risk-Performance of Financial Institutions Over the Business Cycle

FRB of Philadelphia Working Paper No. 13-23

Number of pages: 44 Posted: 25 May 2013

Elyas Elyasiani, Loretta J. Mester and Michael S. Pagano

Temple University - Department of Finance, Federal Reserve Banks - Federal Reserve Bank of Cleveland and Villanova University - Villanova School of Business

Downloads 35 (533,945)

Abstract:

24.

Is Bigger Necessarily Better in Community Banking?

Downloads 94 (325,551)

2

Is Bigger Necessarily Better in Community Banking?

FRB of Philadelphia Working Paper No. 16-15

Number of pages: 44 Posted: 21 Jun 2016 Last Revised: 29 Apr 2020

Joseph P. Hughes, Julapa Jagtiani and Loretta J. Mester

Rutgers, The State University of New Jersey - Department of Economics, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and Federal Reserve Banks - Federal Reserve Bank of Cleveland

Downloads 62 (418,285)

Abstract:

Is Bigger Necessarily Better in Community Banking?

FRB of Cleveland Working Paper No. 16-15

Number of pages: 54 Posted: 18 Sep 2016

Joseph P. Hughes, Julapa Jagtiani and Loretta J. Mester

Rutgers, The State University of New Jersey - Department of Economics, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and Federal Reserve Banks - Federal Reserve Bank of Cleveland

Downloads 32 (550,676)

Abstract:

25.

Does Scale Matter in Community Bank Performance? Evidence Obtained by Applying Several New Measures of Performance

Downloads 93 (327,771)

Citation 4

2

Does Scale Matter in Community Bank Performance? Evidence Obtained by Applying Several New Measures of Performance

FRB of Philadelphia Working Paper No. 18-11

Number of pages: 44 Posted: 15 May 2018 Last Revised: 29 Apr 2020

Joseph P. Hughes, Julapa Jagtiani, Loretta J. Mester and Choon-Geol Moon

Rutgers, The State University of New Jersey - Department of Economics, Federal Reserve Banks - Federal Reserve Bank of Philadelphia, Federal Reserve Banks - Federal Reserve Bank of Cleveland and Hanyang University

Downloads 48 (471,937)

Abstract:

Does Scale Matter in Community Bank Performance? Evidence Obtained by Applying Several New Measures of Performance

Number of pages: 66 Posted: 10 Mar 2018 Last Revised: 16 May 2019

Joseph P. Hughes, Julapa Jagtiani, Loretta J. Mester and Choon-Geol Moon

Rutgers, The State University of New Jersey - Department of Economics, Federal Reserve Banks - Federal Reserve Bank of Philadelphia, Federal Reserve Banks - Federal Reserve Bank of Cleveland and Hanyang University

Downloads 45 (485,222)

Citation 4

Abstract:

26.

A Primer on Market Discipline and Governance of Financial Institutions for Those in a State of Shocked Disbelief

FRB of Philadelphia Working Paper No. 12-13

Number of pages: 47 Posted: 07 Jun 2012

Joseph P. Hughes and Loretta J. Mester

Rutgers, The State University of New Jersey - Department of Economics and Federal Reserve Banks - Federal Reserve Bank of Cleveland

Downloads 87 (341,808)

Abstract:

27.

Market Discipline Working for and against Financial Stability: The Two Faces of Equity Capital in U.S. Commercial Banking

Number of pages: 38 Posted: 15 Dec 2016

Joseph P. Hughes, Loretta J. Mester and Choon-Geol Moon

Rutgers, The State University of New Jersey - Department of Economics, Federal Reserve Banks - Federal Reserve Bank of Cleveland and Hanyang University

Downloads 81 (356,636)

Abstract:

28.

Measuring Agency Costs and the Value of Investment Opportunities of U. S. Bank Holding Companies with Stochastic Frontier Estimation

Research Handbook on Competition in Banking and Finance, eds. Jacob A. Bikker and Laura Spierdijk, Edward Elgar Publishing, Forthcoming

Number of pages: 36 Posted: 30 Jun 2016

Joseph P. Hughes, Loretta J. Mester and Choon-Geol Moon

Rutgers, The State University of New Jersey - Department of Economics, Federal Reserve Banks - Federal Reserve Bank of Cleveland and Hanyang University

Downloads 78 (364,581)

Abstract:

29.

The Future of Large, Internationally Active Banks: Does Scale Define the Winners?

Rutgers University Economics Working Paper 201524

Number of pages: 22 Posted: 27 Jun 2016

Joseph P. Hughes and Loretta J. Mester

Rutgers, The State University of New Jersey - Department of Economics and Federal Reserve Banks - Federal Reserve Bank of Cleveland

Downloads 65 (402,864)

Abstract:

30.

The Performance of Financial Institutions: Modeling, Evidence, and Some Policy Implications

Oxford Handbook of Banking, 3rd edition, Forthcoming

Number of pages: 44 Posted: 05 Oct 2018

Joseph P. Hughes and Loretta J. Mester

Rutgers, The State University of New Jersey - Department of Economics and Federal Reserve Banks - Federal Reserve Bank of Cleveland

Downloads 43 (484,770)

Citation 2

Abstract:

31.

Bankcard Performance During the Great Recession: A Consumer-level Analysis

Journal of Credit Risk, Vol. 16, No. 4, 2020

Number of pages: 42 Posted: 19 Jan 2021

Paul S. Calem, Julapa Jagtiani and Loretta J. Mester

Federal Reserve Banks - Federal Reserve Bank of Philadelphia, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and Federal Reserve Banks - Federal Reserve Bank of Cleveland

Downloads 1 (757,379)

Add to Cart

Abstract:

32.

Competitive Effects of Basel II on U.S. Bank Credit Card Lending

FRB of Philadelphia Working Paper No. 07-9

Posted: 18 Apr 2007 Last Revised: 22 Nov 2019

William W. Lang, Loretta J. Mester and Todd Vermilyea

Promontory Financial Group, Federal Reserve Banks - Federal Reserve Bank of Cleveland and Federal Reserve Bank of Philadelphia

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33.

Deposits and Relationship Lending

Posted: 07 May 1999

Mitchell Berlin and Loretta J. Mester

Federal Reserve Bank of Philadelphia - Research Department and Federal Reserve Banks - Federal Reserve Bank of Cleveland

Abstract:

34.

Efficiency of Banks in the Third Federal Reserve District

94-13

Posted: 20 Jul 1998

Loretta J. Mester

Federal Reserve Banks - Federal Reserve Bank of Cleveland

Abstract:

35.

Evidence on the Objectives of Bank Managers

94-15

Posted: 15 Jul 1998

Joseph P. Hughes and Loretta J. Mester

Rutgers, The State University of New Jersey - Department of Economics and Federal Reserve Banks - Federal Reserve Bank of Cleveland

Abstract:

36.

Consumer Behavior and the Stickiness of Credit Card Interest Rates

94-14

Posted: 14 Jul 1998

Paul S. Calem and Loretta J. Mester

Federal Reserve Banks - Federal Reserve Bank of Philadelphia and Federal Reserve Banks - Federal Reserve Bank of Cleveland

Abstract:

37.

Recovering Risky Technologies Using the Almost Ideal Demand System: An Application to U.S. Banking Mutual Funds

WFIC Working Paper No.97-47

Posted: 10 Jul 1998

Joseph P. Hughes, William W. Lang, Loretta J. Mester and Choon-Geol Moon

Rutgers, The State University of New Jersey - Department of Economics, Promontory Financial Group, Federal Reserve Banks - Federal Reserve Bank of Cleveland and Hanyang University

Abstract:

38.

Intermediation and Vertical Integration

Journal of Money, Credit and Banking, Vol. 30, No. 3, Part 2 (August 1998)

Posted: 06 Apr 1998

Mitchell Berlin and Loretta J. Mester

Federal Reserve Bank of Philadelphia - Research Department and Federal Reserve Banks - Federal Reserve Bank of Cleveland

Abstract:

39.

Efficient Banking Under Interstate Branching

J. OF MONEY, CREDIT, AND BANKING, Vol. 28 No. 4, November 1996

Posted: 29 Oct 1996

Joseph P. Hughes, William W. Lang, Loretta J. Mester and Choon-Geol Moon

Rutgers, The State University of New Jersey - Department of Economics, Promontory Financial Group, Federal Reserve Banks - Federal Reserve Bank of Cleveland and Hanyang University

Abstract:

40.

Why is the Banking Sector Shrinking?

Paper ID: 96-18

Posted: 08 Oct 1996

Mitchell Berlin and Loretta J. Mester

Federal Reserve Bank of Philadelphia - Research Department and Federal Reserve Banks - Federal Reserve Bank of Cleveland

Abstract:

41.

Safety in Numbers? Geographic Diversification and Bank Insolvency Risk

96-14

Posted: 10 Sep 1996

Joseph P. Hughes, William W. Lang, Loretta J. Mester and Choon-Geol Moon

Rutgers, The State University of New Jersey - Department of Economics, Promontory Financial Group, Federal Reserve Banks - Federal Reserve Bank of Cleveland and Hanyang University

Loretta J. Mester

Federal Reserve Banks - Federal Reserve Bank of Cleveland

University of Pennsylvania - The Wharton School

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Scholarly Papers (41)

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Bankcard Performance During the Great Recession: A Consumer-level Analysis

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