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Businesses and Borrowing during the Roaring '20s and at the Onset of the Great Depression

Richardson, Gary; Angel, Marco del - National Bureau of Economic Research - 2024

Which firms relied on commercial banks for credit and which firms did not at the onset of the Great Depression would seem to be an important question given the vast literature discussing banking distress in the United States during the 1930s. The question, however, has not been answered. This...

Persistent link: https://www.econbiz.de/10015072860

Countercyclical Capital Buffers : A Cautionary Tale

Koch, Christoffer - 2020

Countercyclical capital buffers (CCyBs) are an old idea recently resurrected. CCyBs compel banks at the core of financial systems to accumulate capital during expansions so that they are better able to sustain operations during downturns. To gauge the potential impact of modern CCyBs, we compare...

Persistent link: https://www.econbiz.de/10012479234

Payments Crises and Consequences

Chen, Qian - 2020

Banking-system shutdowns during contractions scar economies. Four times in the last forty years, governors suspended payments from state-insured depository institutions. Suspensions of payments in Nebraska (1983), Ohio (1985), and Maryland (1985), which were short and occurred during expansions,...

Persistent link: https://www.econbiz.de/10012481281

Signals and Stigmas from Banking Interventions : Lessons from the Bank Holiday in 1933

Jaremski, Matthew S.; Richardson, Gary; Vossmeyer, Angela - National Bureau of Economic Research - 2023

next three months. A comprehensive bank-level database reveals the public responded to signals sent by regulators' actions …

Persistent link: https://www.econbiz.de/10014248006

Interpreting the Unconventional U.S. Monetary Policy of 2007-09

Reis, Ricardo - 2010

minimize the length and severity of the recession, would require a stronger commitment to low interest rates for an extended …

Persistent link: https://www.econbiz.de/10012462989

Quarterly Data on the Categories and Causes of Bank Distress During the Great Depression

Richardson, Gary - 2006

operating in the United States and determined the cause of each bank suspension. This essay introduces quarterly series derived …

Persistent link: https://www.econbiz.de/10012465945

Monetary Intervention Mitigated Banking Panics During the Great Depression : Quasi-Experimental Evidence from the Federal Reserve District Border in Mississippi, 1929 to 1933

Richardson, Gary - 2006

The Federal Reserve Act of 1913 divided Mississippi between the 6th (Atlanta) and 8th (St. Louis) Federal Reserve Districts. Before and during the Great Depression, these districts' policies differed. The Atlanta Fed championed monetary activism and the extension of credit to troubled banks. The...

Persistent link: https://www.econbiz.de/10012466070

What Measure of Inflation Should a Central Bank Target?

Mankiw, N. Gregory - 2002

This paper assumes that a central bank commits itself to maintaining an inflation target and then asks what measure of … the inflation rate the central bank should use if it wants to maximize economic stability. The paper first formalizes this … that a central bank that wants to achieve maximum stability of economic activity should use a price index that gives …

Persistent link: https://www.econbiz.de/10012469328

Can the Central Bank Alleviate Fiscal Burdens?

Reis, Ricardo - 2016

the ability of the central bank to alleviate the fiscal burden by influencing different terms in the government resource … seignorage is generated and subject to what constraints, (iii) whether central bank liabilities should count as public debt, (iv …) how central bank assets create income risk, and whether or not this threatens its solvency, and (v) how the central bank …

Persistent link: https://www.econbiz.de/10012455666

Achieving Price Stability by Manipulating the Central Bank’s Payment on Reserves

Hall, Robert E. - 2016

instrument of monetary policy. We show that by paying an appropriate rate on reserves, the central bank can pin the price level …

Persistent link: https://www.econbiz.de/10012455919