Emmons, William R.; Gilbert, R. Alton; Yeager, Timothy J. - Federal Reserve Bank of St. Louis - 2001
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and Insurance Activities, Journal of Economics and Business 52, 485-97.
Bassett, William F., and Zakrajsek, Egon. (2001 … business cycle downturns. Mergers may reduce the risk of insolvency through
scale effects or through geographic … diversification effects, allowing more banks to remain viable
through business cycle troughs. If geographical diversification …