Derivatives and Intermediation

A Conference Sponsored by the Federal Reserve Bank of Cleveland November 1-3, 1995

Mark Sniderman, "Preface," pp. 419-420

Joseph G. Haubrich and James B. Thomson, "Introduction," pp. 421-425

Narasimhan Jegadeesh and George G. Pennacchi, "The Behavior of Interest Rates Implied by the Term Structure of Eurodollar Futures," pp. 426-446

Comment by Arturo Estrella, pp. 447-451

Robert R. Bliss and Peter Ritchken, "Empirical Tests of Two State-Variable Heath-Jarrow Models," pp. 452-476

Comment by Ehud I. Ronn, pp. 477-481

Elijah Brewer III, William E. Jackson III, and James T. Moser, "Alligators in the Swamp: The Impact of Derivatives on the Financial Performance of Depository Institutions," pp. 482-497

Comment by Anthony Saunders, pp. 498-501

Phil Molyneux and Nidal Shamroukh, "Diffusion of Financial Innovations: The Case of Junk Bonds and Note Issuance Facilities," pp. 502-522

Comment by Allen N. Berger, pp. 523-526

Jeffrey A. Clark and Steven B. Perfect, "The Economic Effects of Client Losses on OTC Bank Derivative Dealers: Evidence from the Capital Market," pp. 527-545

Comment by Bernadette A. Minton, pp. 546-547