Remarks at United States Military Academy at West Point, West Point, New York.

Joint written testimony before the Congressional Oversight Panel, Washington, D.C.

Remarks at the Andrew Crockett Memorial Lecture, Bank for International Settlements 2013 Annual General Meeting, Basel, Switzerland.

Remarks hosted by the Institute of Regulation & Risk North Asia, Hong Kong

Remarks at the C. Peter McColough Series on International Economics, Council on Foreign Relations, New York City.

Testimony before the U.S. Senate Committee on Banking, Housing and Urban Affairs, Washington, D.C.

Testimony before the Subcommittee on TARP, Financial Services and Bailouts of Public and Private Programs, Committee on Oversight and Government Reform, U.S. House of Representatives.

Remarks hosted by the Institute of Regulation & Risk North Asia, Tokyo, Japan.

Remarks at Banking Law Symposium 2011, Paris, France.

We investigate how bank migration across state lines over the last quarter century has affected the size and covariance of business fluctuations within states. Starting with a two-state version of the unit banking model in Holmstrom and Triocole (1997), we conclude that the theoretical effect of...