The paper uses bank- and instrument-level data on asset holdings and liabilities to identify and estimate a general … equilibrium model of trade in financial instruments. Bilateral ties are formed as each bank selects the size and the … lead to less amplification of partial equilibrium shocks, (ii) the influence of a bank's equity is independent of the size …

fragility manifests itself in stronger sensitivity of deposit flows to bank performance. A deterioration in the aggregate … conditions in the banking system makes the fragility within each bank stronger. We run multiple tests to show that depositors …

the size of the economy, (2) the association between an increase in economic output and an increase in bank development …

, raising credit terms to their borrowers. The picture that emerges from these findings looks less like a traditional bank run …

established through bank-to-bank lending and provide evidence to support this claim. To analyze dynamics of formation of such …

how they are resolved. Our analysis sheds new light on the conflict between micro-prudential bank regulation and …

urban growth. Our estimates suggest that the presence of a bank at a given location in the late 1830s is associated with …