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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
Reserve discount window through contacts with Federal Reserve members. We find that individual bank attributes related to the … that a bank's position within the interbank network (as a user or provider of liquidity) predicts the timing of its entry …
Persistent link: https://www.econbiz.de/10012456985
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
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
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
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
via contractions in credit and disruption in financial markets. Managing the size and composition of the central bank …
Persistent link: https://www.econbiz.de/10012456262
What set of institutions can support the activity of a central bank? Designing a central bank requires specifying its … objective function, including the bank's mandate at different horizons and the choice of banker(s), specifying the resource … constraint that limits the resources that the central bank generates, the assets it holds, or the payments on its liabilities …
Persistent link: https://www.econbiz.de/10012459416
In spite of the mystique behind a central bank's balance sheet, its resource constraint bounds the dividends it can … multiple equilibria arise if debt repudiation lowers fiscal surpluses, the central bank may help to select one equilibrium. The … central bank's main lever over fundamentals is to raise inflation, but otherwise the balance sheet gives it little leeway …
Persistent link: https://www.econbiz.de/10012459932
evidence, we describe how the Federal Reserve Bank of Atlanta halted the spread of the panic by rushing currency to member … banks. Analysis based on a new micro-level database of commercial banks in Florida shows that bank failures would have been …
Persistent link: https://www.econbiz.de/10012462197