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Bank deregulation, competition and economic growth : the US free banking experience

Ager, Philipp; Spargoli, Fabrizio - 2013

We exploit the introduction of free banking laws in US states during the 1837-1863 period to examine the impact of … find that the introduction of free banking laws stimulated the creation of new banks and led to more bank failures. Our … empirical evidence indicates that states adopting free banking laws experienced an increase in output per capita compared to the …

Persistent link: https://www.econbiz.de/10010227307

What goes up sometimes stays up : shocks and institutions as determinants of unemployment persistence

Amisano, Gianni; Serati, Massimiliano - 2002

Persistent link: https://www.econbiz.de/10001718700

The limiting distribution of production in integrated economies : evidence from US states and EU countries

Bowen, Harry P.; Munandar, Haris; Viaene, Jean-Marie - 2006

We show that in a fully integrated economy, in which there is free mobility of goods and factors, each member’s share of total output will equal its shares of total stocks of productive factors (i.e., physical and human capital). We label this result the equal-share relationship. This...

Persistent link: https://www.econbiz.de/10011343242

Do information contagion and business model similarities explain bank credit risk commonalities?

Wang, Dieter; Lelyveld, Iman van; Schaumburg, Julia - 2018

This paper revisits the credit spread puzzle in bank CDS spreads from the perspective of information contagion. The puzzle, first detected in corporate bonds, consists of two stylized facts: Structural determinants of credit risk not only have low explanatory power but also fail to capture...

Persistent link: https://www.econbiz.de/10011949150

Banking competition and soft budget constraints : how market power can threaten discipline in lending

Arping, Stefan - 2012

Persistent link: https://www.econbiz.de/10010190982

Shadow banking and traditional bank lending : the role of implicit guarantees

Gornicka, Lucyna - 2014 - First version: September 2013, This version: March 6, 2014

in shadow banking. BHCs can increase their fee income by guaranteeing sold projects with a recourse to the bank's balance …, effectively providing a recourse to deposit insurance, and a mutually reinforcing relationship between bank and off -balance … BHCs with small banks, and they dominate the shadow banking sector. …

Persistent link: https://www.econbiz.de/10010255024