Research

Research Articles

M. Flood, "Embracing Change: Financial Informatics and Risk Analytics", Quantitative Finance, (Link is to a preprint of an article submitted for consideration in Quantitative Finance, copyright 2008 Taylor and Francis; Quantitative Finance is available online at: http://www.informaworld.com.), 2008, forthcoming.
M. Flood, R. Huisman, K. Koedijk, and R. Mahieu, "Quote Disclosure and Price Discovery in Multiple Dealer Financial Markets", Review of Financial Studies, 12(1), Spring 1999, 37-59.
M. El-Makkoui, and M. Flood, "Intradaily Tests of Put-Call Parity in the Foreign Currency Options Market", Journal of International Financial Markets, Institutions and Money, 8(3/4), November 1998, 357-376.
M. Flood, "Market Structure and Inefficiency in the Foreign Exchange Market", Journal of International Money and Finance, 13(2), April 1994, 131-158.
M. Flood, "Two Faces of Financial Innovation", Review, Federal Reserve Bank of St. Louis, September/October 1992, 3-17.
M. Flood, "The Great Deposit Insurance Debate", Review, Federal Reserve Bank of St. Louis, July/August 1992, 51-77.
M. Flood, "Microstructure Theory and the Foreign Exchange Market", Review, Federal Reserve Bank of St. Louis, November/December 1991, 52-70.
M. Flood, "An Introduction to Complete Markets", Review, Federal Reserve Bank of St. Louis, March/April 1991, 32-57.
M. Flood, "On the Use of Option Pricing Models to Analyze Deposit Insurance", Review, Federal Reserve Bank of St. Louis, January/February 1990, 19-35.

Other Publications

M. Flood, "Discussion (of Yield and Inflation Differentials between Canada and the United States, by Ben Fung and Eli Remolona)", Information in Financial Asset Prices, K. Clinton and M. Zelmer, eds., Bank of Canada, 1998, 133-139.
M. Flood, "U.S. Historical Data on Bank Market Structure", 1998,
M. Flood, "Incomplete Markets", Business Cycles and Depressions: An Encyclopedia, D. Glasner, ed., Garland Publishing (ISBN: 0824009444), 1997, 321-323.
M. Flood, "Comment (on: Foreign Exchange Volume: Sound and Fury Signifying Nothing?, by Richard K. Lyons)", The Microstructure of Foreign Exchange Markets, J. Frankel, G. Galli and A. Giovannini, eds., University of Chicago Press and NBER (ISBN: 0226260003), 1996, 202-205.
M. Flood, "Deposit Insurance Problems and Solutions", Review, Federal Reserve Bank of St. Louis, January/February 1993, 28-34.
M. Flood, "How Close are Bond and Equity Mutual Funds to Money?", Monetary Trends, Federal Reserve Bank of St. Louis, June 1993, cover page.
M. Flood, "Tinkering with federal deposit insurance", Central Banker, Federal Reserve Bank of St. Louis, Summer 1992,
M. Flood, "The Effect of Counterfeiting on the Fed's Currency Statistics", Monetary Trends, Federal Reserve Bank of St. Louis, June 1992, cover page.
M. Flood, "Deposit Insurance and the Full Faith and Credit of the U. S. Government", Monetary Trends, Federal Reserve Bank of St. Louis, Mar. 1992, cover page.
M. Flood, "Real Value of FDIC Coverage", Monetary Trends, Federal Reserve Bank of St. Louis, Nov. 1991, cover page.
M. Flood, "M2 Growth and the Activity of the RTC", Monetary Trends, Federal Reserve Bank of St. Louis, Oct. 1991, cover page.
M. Flood, "The Health of the Commercial Banking Industry", Monetary Trends, Federal Reserve Bank of St. Louis, Apr. 1991, cover page.

Working Papers

M. Flood, and G. Korenko, "Systematic Scenario Selection: a Methodology for Selecting a Representative Grid of Shock Scenarios from a Multivariate Elliptical Distribution", Sep. 2008, working paper.
M. Flood, and D. Malmquist, "Mating Behavior of U.S. Financial Institutions in a Man-Made Habitat, or Do U.S. Capital Requirements Disadvantage Low-Risk Institutions?", May 2005, working paper.
M. Flood, K. Koedijk, M. van Dijk, and I. van Leeuwen, "Dividing the Pie: Asymmetrically Informed Dealers and Market Transparency", Oct. 2002, working paper.
M. Flood, "Basel Buckets and Loan Losses: Absolute and relative loan underperformance at banks and thrifts", March 2001, working paper.
M. Flood, R. Huisman, K. Koedijk, M. van Dijk, and I. van Leeuwen, "The More You See, the Less You Get: Price-Competing Insiders under Different Trading Mechanisms", May 1998, working paper.
M. Flood, R. Huisman, K. Koedijk, and R. Lyons, "Search Costs: The Neglected Spread Component", Jan. 1998, working paper.
S. Kwan, and M. Flood, "Deposit Insurance, Bank Market Structure, and Bank Failures: Evidence from the 1910s and 1920s", Jan. 1998, working paper.
M. Flood, R. Huisman, K. Koedijk, R. Mahieu, and A. Röell, "Post-Trade Transparency in Multiple Dealer Financial Markets", Mar. 1997, working paper.

Conference Presentations

"Systematic Scenario Selection," Global Association of Risk Professionals (GARP), Chapter Meeting, Washington DC, Nov. 2008.
"Expecting the Unexpected: Empirical Determinants of Bank Loan-Loss Experience, 1984-2006," FDIC Center for Financial Research, Fellows Workshop, Washington DC, Oct. 2008.
"Toward an Ontology for Financial Informatics," Extreme Markup Languages 2007, Montreal, Aug. 2007.
"Embracing Change: Financial Informatics and Risk Analytics," Stanford University: 9th International Protégé Conference, Stanford, CA, July 2006.
"Mating Behavior of U.S. Financial Institutions in a Man-Made Habitat, or Do U.S. Capital Requirements Disadvantage Low-Risk Institutions?," 1st European Banking Symposium, Maastricht, June 2005.
"Experimental Microstructure Research: Structure of Inquiry," Financial Management Association meetings, Chicago, Oct. 1998.
"The More You See, the Less You Get: Price-Competing Insiders under Different Trading Mechanisms," Financial Management Association meetings, Chicago, Oct. 1998.
"What You See Is What You Get: Price-Competing Insiders under Different Trading Mechanisms," University of N. Carolina at Charlotte finance workshop, Charlotte, NC, Dec. 1997.
"Flannery and Flood's ProBanker: A Financial Services Simulation," Concordia University Teaching Fair, Montreal, Nov. 1996.
"Institutional Limits on Price Discovery in Multiple Dealer Financial Markets," Financial Management Association meetings, New Orleans, Oct. 1996.
"Institutional Limits on Price Discovery in Multiple Dealer Financial Markets," University of California at Berkeley finance workshop, Berkeley, Sep. 1996.
"Price Discovery in Financial Markets: The Effect of Alternative Communication Schemes," Federal Reserve Bank of New York international macroeconomics workshop, New York, June 1996.
"Price Discovery in Financial Markets: The Effect of Alternative Communication Schemes," California Institute of Technology finance workshop, Pasadena, May 1996.
"Price Discovery in Financial Markets: The Effect of Alternative Communication Schemes," Concordia University finance workshop, Montreal, Apr. 1996.
"The Boom and Bust Phenomenon and U. S. Bank Failure Experience, 1914-1929," Canadian Economics Association meetings, Montreal, June 1995.
"The Boom and Bust Phenomenon and U. S. Bank Failure Experience, 1914-1929," St. Louis Fed./Washington University joint macroeconomic seminar series, St. Louis, May 1995.
"Bank Chartering and Bank Failures, 1914-1934," Hofstra University finance workshop, New York, Feb. 1995.
"Bank Chartering and Bank Failures, 1914-1934," Concordia University finance workshop, Montreal, Jan. 1995.
"Bank Chartering and Bank Failures, 1914-1934," Financial Management Association meetings, St. Louis, Oct. 1994.
"Learning Models and the Stability of Price Discovery in Decentralized Dealer Markets," Concordia University finance workshop, Montreal, Mar. 1994.
"Market Structure and Inefficiency in the Foreign Exchange Market," Rijksuniversiteit Limburg finance workshop, Maastricht, Aug. 1993.
"The Great Deposit Insurance Debate," Levy Institute conference: Financing Prosperity in the 21st Century, Annandale-on-Hudson, Mar. 1993.
"Market Structure and Inefficiency in the Foreign Exchange Market," St. Louis Fed./ Washington University joint macroeconomic seminar series, St. Louis, Sep. 1992.
"Market Structure and Inefficiency in the Foreign Exchange Market," NBER conference: Exchange Rate Regimes, Cambridge, MA, Dec. 1990.

Invited Discussions

"Regulatory Monitoring and the Impact of Ownership on Bank Riskg," by Hatice Uzun and Elizabeth Webb, Financial Management Association meetings, Grapevine, TX, October 2008.
"The relation between borrower risk and loan maturity in small business lending," by Karolin Kirschenmann and Lars Norden, 4th European Banking Symposium, Milan, May 2008.
"Credit Derivatives and Loan Pricing," by Lars Norden and Wolf Wagner, 3rd European Banking Symposium, Maastricht, June 2007.
"Dynamic Downside Risk Measure And Optimal Asset Allocation," by Xun Li and Zhenyu Wu, Financial Management Association meetings, Salt Lake City, Oct. 2006.
"Does the stock market value bank diversification," by Olivier De Jonghe, Lieven Baele, and Rudi Vander Vennet, 2nd European Banking Symposium, Milan, June 2006.
"Collateral and the Debt Maturiy Choice under Asymmetric Information: A Signaling Model," by Robert Lensink and Pham Thu Thu Tra, 1st European Banking Symposium, Maastricht, June 2005.
"Bubbles in Experimental Asset Markets: Irrational Exuberance No More," by Lucy F. Ackert, Narat Charupat, Bryan K. Church, and Richard Deaves, Financial Management Association meetings, Toronto, Oct. 2001.
"Are Diversifying Activities Always Bad?: Evidence from Section 20 Subsidiaries," by Marcia Millon Cornett, Evern Ors, and Hassan Tehranian, Financial Management Association meetings, Toronto, Oct. 2001.
"Yield and Inflation Differentials Between Canada and the United States," by Ben Siu Cheong Fung and Eli Remolona, Bank of Canada Conference, Information in Financial Asset Prices, Ottawa, May 1998.
"Profits and Position Control: A Week of FX Dealing," by Richard K. Lyons, Limburg Institute for Financial Economics, Workshop on Developments in Exchange Rate Modeling, Maastricht, Apr. 1997.
"Regulatory Monitoring, Closure Costs and Bank Moral Hazard Behavior," by Sumon Mazumdar, Financial Management Association meetings, New Orleans, Oct. 1996.
"Head-and-Shoulders: Not Just a Flaky Pattern," by Kevin Chang and Carol Osler, Financial Management Association meetings, New York, Oct. 1995.
"Emerging Debt and Equity Markets: An Exploratory Investigation of Integration Using Daily Data," by Mandeep Chahal, Michael Rebello and Stephen Smith, Financial Management Association meetings, New York, Oct. 1995.
"Synergistic and Improvement Gains in the Market for Corporate Control: Evidence from Bank Mergers," by Lynn Pi and Hang Zhang, Financial Management Association meetings, New York, Oct. 1995.
"The Montreal Call Loan Rate and New York Exchange Rates, 1871-1897," by Kieran Furlong, Canadian Economics Association meetings, Montreal, June 1995.
"A Class of Shot Noise Models for Financial Applications," by Gennady Samorodnitsky, Olsen and Associates conference: High-Frequency Data in Finance I, Zurich, Mar. 1995.
"Foreign Exchange Volume: Sound and Fury Signifying Nothing?," by Richard K. Lyons, NBER-CEPR-Banca d'Italia conference: Microstructure of foreign exchange markets, Perugia, Italy, July 1994.
"Equilibrium Microstructure in the Foreign Exchange Market," by Richard K. Lyons, Western Finance Association meetings, Whistler, British Columbia, June 1993.
"Is Fairly Priced Deposit Insurance Possible?," by Yuk-Shee Chan, Stuart Greenbaum and Anjan Thakor, St. Louis Fed Symposium on Deposit Insurance, St. Louis, Dec. 1992.
"Yield Curves, Cointegration, and the Factor Stochastic Processes," by Hua Zhang, Financial Management Association meetings, San Francisco, Oct. 1992.
"The Effects of Foreign Loan Allocations on the Market Value of U. S. Multinational Banks," by Ahmad Waheed, Ike Mathur and Soumen De, Midwest Finance Association meetings, Chicago, Mar. 1992.