Charles S. Morris

Charles Morris

Vice President and Economist
Federal Reserve Bank of Kansas City
1 Memorial Drive
Kansas City, Missouri

Biography

Chuck Morris is Vice President and Economist in the Supervision and Risk Management Division, with responsibility for the Banking Research and Surveillance and Risk Management Departments. He conducts research on banking and financial markets topics with an emphasis on community banking and bank regulatory and policy issues. He also supports the Bank's senior management by preparing analyses, briefings, and recommendations on regulatory and policy issues. He has conducted research in a variety of areas, including banking, financial instruments, general finance, rural finance, macroeconomics, and econometrics. Chuck joined the Bank as an Economist in the Economic Research Department in 1983. He was promoted to Assistant Vice President and Economist in 1992 and to Vice President and Economist in 1997. In 1999, he left the research area and led several business areas of the Bank through 2008, when he returned to a research role to establish and lead the Banking Research Department. In 2012, he spent six months at the Federal Deposit Insurance Corporation serving as Acting Deputy to Vice Chairman Thomas Hoenig. He assumed his current responsibilities upon returning to Kansas City in December 2012. He holds a B.A., M.A., and a Ph.D. in Economics from the University of California-Los Angeles.

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Banking - General

  • "Competition in Local Agricultural Lending Markets: The Effect of the Farm Credit System"
    with James Wilkinson and Eric Hogue, Fourth Quarter 2015
  • "Bank Consolidation and Merger Activity Following the Crisis"
    with Michal Kowalik, Troy Davig, and Kristen Regehr, First Quarter 2015
  • "What Explains Low Net Interest Income at Community Banks?"
    with Kristen Regehr, Second Quarter 2014
  • "Restructuring the Banking System to Improve Safety and Soundness"
    (with Thomas M. Hoenig), Revised: November 2013; Original Version: May 2011
  • "What Should Banks Be Allowed to Do?"
    Fourth Quarter 2011
  • "The Kansas City Plan"
    (with Thomas M. Hoenig and Kenneth Spong), Chapter 10 in Ending Governement Bailouts As We Know Them, edited by Kenneth E. Scott, George Shultz, and John B. Taylor, Hoover Institution Press, 2010, pp. 189-215.
  • "Resolution Process for Financial Companies that Pose Systemic Risk To the Financial System and Overall Economy"
    (with Thomas M. Hoenig and Kenneth Spong), September 2009
  • "Have Nonbank Sources of Credit Become Better Substitutes for Bank Loans?”
    (with Sean Becketti), unpublished manuscript, June 1994
  • "Reduced Form Evidence on the Substitutability Between Bank and Nonbank Loans"
    (with Sean Becketti), Research Working Paper 93-18, Research Division, Federal Reserve Bank of Kansas City, December 1993. A shorter version is published in The Declining Role of Banking, Proceedings of the 30th Annual Conference on Bank Structure and Competition, Federal Reserve Bank of Chicago, May 1994, pp. 563-82
  • "Are Bank Loans Still Special?”
    (with Sean Becketti), Economic Review, Federal Reserve Bank of Kansas City, Third Quarter 1992
  • "Market Value Accounting for Banks: Pros and Cons"
    Economic Review
    , Federal Reserve Bank of Kansas City, March/April 1991. Reprinted in Readings for the Economics of Money, Banking, and Financial Markets, edited by James W. Eater and Frederic S. Mishkin, HarperCollins Publishers, Inc., 1992. Reprinted in Readings on Financial Institutions and Markets, edited by Peter S. Rose, Richard D. Irwin, Inc., 1993
  • "Loan Losses and Bank Risk-taking: Is There a Connection?”
    (with William R. Keeton), Research Working Paper 88-04, Research Division, Federal Reserve Bank of Kansas City, July 1988
  • "Loan Sales: Another Step in the Evolution of the Short-term Credit Market"
    (with Sean Becketti), Economic Review, Federal Reserve Bank of Kansas City, November 1987
  • "Why Do Banks' Loan Losses Differ?”
    (with William R. Keeton), Economic Review, Federal Reserve Bank of Kansas City, May 1987
  • "Determinants of Banking Market Structure"
    Research Working Paper 86-07, Research Division, Federal Reserve Bank of Kansas City, September 1986
  • "Banking Market Structure in Tenth District States, 1973-83"
    Economic Review
    , Federal Reserve Bank of Kansas City, July/August 1985
  • "Competitive Effects of Interstate Banking"
    Economic Review
    , Federal Reserve Bank of Kansas City, November 1984. Reprinted in Financial Institutions and Markets in a Changing World, (3rd ed.) edited by Donald R. Fraser and Peter S. Rose, Business Publications, Inc., 1987

Financial Instruments

  • "The Prepayment Experience of FNMA Mortgage-backed Securities"
    (with Sean Becketti), Research Working Paper 90-01, Research Division, Federal Reserve Bank of Kansas City, July 1990. Reprinted in Monograph Series in Finance and Economics, Monograph 1990-3, Salomon Brothers Center for the Study of Financial Institutions, 1990
  • "Managing Stock Market Risk With Stock Index Futures"
    Economic Review
    , Federal Reserve Bank of Kansas City, June 1989. Reprinted in Financial Market Volatility and the Economy, Federal Reserve Bank of Kansas City, 1990. Reprinted in Financial Institutions and Markets: A Reader, edited by Robert W. Kolb, Kolb Publishing Company, 1991. Reprinted in The Financial Derivatives Reader, edited by Robert W. Kolb, Kolb Publishing Company, 1992. Reprinted in Readings on Financial Institutions and Markets, edited by Peter S. Rose, Richard D. Irwin, Inc., 1993
  • "Managing Interest Rate Risk With Interest Rate Futures"
    Economic Review
    , Federal Reserve Bank of Kansas City, March 1989. Reprinted in Readings on Financial Institutions and Markets, edited by Donald R. Fraser and Peter S. Rose, (4th ed.) Richard D. Irwin, Inc., 1990. Reprinted in Financial Market Volatility and the Economy, Federal Reserve Bank of Kansas City, 1990. Reprinted in Financial Institutions and Markets: A Reader, edited by Robert W. Kolb, Kolb Publishing Company, 1991. Reprinted in The Commercial Bank Management Reader, edited by Robert W. Kolb, Kolb Publishing Company, 1992. Reprinted in Readings for the Economics of Money, Banking, and Financial Markets, edited by James W. Eater and Frederic S. Mishkin, HarperCollins Publishers, Inc., 1992
  • "New Methods for Savings and Loans to Hedge Interest Rate Risk"
    (with Thomas J. Merfeld), Economic Review, Federal Reserve Bank of Kansas City, March 1988. Reprinted in Financial Market Volatility and the Economy, Federal Reserve Bank of Kansas City, 1990

Finance - General

Finance - Rural

  • "Rethinking the Rural Credit Gap"
    (with Mark Drabenstott), Rural Development Perspectives, United States Department of Agriculture Economic Research Service, October/January 1991
  • "Financing Rural Businesses"
    Rural Policies for the 1990s
    , edited by Cornelia B. Flora and James A. Christenson, Westview Press, 1991
  • "Financing Rural Businesses: What Role for Public Policy?”
    (with Mark Drabenstott), Economic Review, Federal Reserve Bank of Kansas City, January 22, 1990
  • "New Sources of Financing For Rural Development"
    (with Mark Drabenstott), American Journal of Agricultural Economics, December 1989

Macroeconomics - General

Econometrics

  • "Johansen's Test for Cointegration"
    (with Ken Heinecke), Stata Technical Bulletin, Stata Corporation, College Station, Texas, September 1994
  • "Hansen's Test for Parameter Instability"
    (with Ken Heinecke), Stata Technical Bulletin, Stata Corporation, College Station, Texas, July 1994
  • "Vector Autoregressions: A User's Guide"
    (with Craig S. Hakkio), Research Working Paper 84-10, Research Division, Federal Reserve Bank of Kansas City, November 1984