William C. Hunter

William Curt Hunter is Dean of the School of Business at the University of Connecticut and former Senior Vice President and Director of Research at the Federal Reserve Bank of Chicago.

  • Market Discipline Across Countries and Industries

    Market Discipline Across Countries and Industries

    Claudio Borio, William C. Hunter, George G. Kaufman, and Kostas Tsatsaronis

    Leading academics and policymakers address the theory of market discipline and consider evidence across different industries and countries.

    The effectiveness of market discipline—the strong built-in incentives that encourage banks and financial systems to operate soundly and efficiently—commands much attention today, particularly in light of recent accounting scandals. As government discipline, in the form of regulation, seems to grows less effective as the banking industry and financial markets grow more complex, the role of market discipline becomes increasingly important. In this collection, which grew out of a conference cosponsored by the Federal Reserve Bank of Chicago and the Bank for International Settlements in Basel, Switzerland, a diverse group of academics and policymakers address different aspects of the ability of market discipline to affect corporate behavior and performance. A major purpose of the book is to develop evidence on how market discipline operates across non-government regulated industries and in different countries, how successful it has been, and how it may transfer to a regulated industry. The chapters examine such topics as the theory of market discipline, evidence of market discipline in banking and other industries, evidence of market discipline for countries, the current state of corporate governance, and the interaction of market discipline and public policy.

    • Hardcover $10.75
    • Paperback $40.00
  • Asset Price Bubbles

    Asset Price Bubbles

    The Implications for Monetary, Regulatory, and International Policies

    William C. Hunter, George G. Kaufman, and Michael Pomerleano

    In both the industrialized and developing worlds, a distinctive feature of the last two decades has been prolonged buildups and sharp collapses in asset markets such as stock, housing, and exchange markets. The volatility has sparked intense debate in academic and policy circles over the appropriate monetary and regulatory response to dramatic market shifts. This book examines asset price bubbles to further our understanding of the causes and implications of financial instability, focusing on the potential of central banks and regulatory agencies to prevent it. The book grew out of a conference jointly sponsored by the Federal Reserve Bank of Chicago and the World Bank Group in April 2002.

    • Hardcover $48.00
    • Paperback $32.00