Ramcharan, Rodney; Rajan, Raghuram G. - Federal Reserve Board (Board of Governors of the … - 2014
new datasets covering bank failures during the farm depression in the United States just before the Great Depression, as … well as bank failures during the Great Depression. Using differences in regulation as a means of identification, we find … that the reduction in local financing capacity as a result of bank failures reduces the recovery rates on failed assets of …