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Real Interest Rates and the Savings and Loan Crisis : The Moral Hazard Premium

Shoven, John B. - 1991

Real interest rates rose to historically high levels in 1980 and remained high throughout the decade. Macroeconomists attribute this phenomenon to a combination of tight monetary policy, fiscal deficits, and variable inflation rates. This paper presents preliminary evidence for an additional...

Persistent link: https://www.econbiz.de/10012475251

Change in Market Assessments of Deposit-Institution Riskiness

Kane, Edward J. - 1988

Using the Goldfeld and Quandt switching regression method, this paper investigates variability over 1975-85 in the risk components of bank and saving and loan stock. We develop evidence that the market-beta, interest-sensitivity, and residual risk of deposit-institution stock vary significantly...

Persistent link: https://www.econbiz.de/10012476536

The Lender of Last Resort and the Run on the Savings and Loans

Garber, Peter M. - 1981

Speculative runs on asset price fixing schemes are most often attributed either to an inexplicable mass hysteria or to a sudden, unpredictable random disturbance. Such attribution places runs and panics outside of the realm of scientific inquiry. Alternatively, in this paper I define the notion...

Persistent link: https://www.econbiz.de/10012478288

The Continued Interest Rate Vulnerability of Thrifts

Hendershott, Patric H. - 1990

-rate and credit risks. The question investigated in this paper is how vulnerable do thrifts remain to an interest rate …

Persistent link: https://www.econbiz.de/10012475616

Deregulation, Savings and Loan Diversification, and the Flow of Housing Finance

Kane, Edward J. - 1981

This paper assesses the probable impact on S&Ls' profitability and participation in mortgage markets of The Depository Institutions Deregulation and Monetary Control Act of 1980. It tracks inflation-induced secular declines in the value of S&L mortgage holdings between 1965 and 1979 and...

Persistent link: https://www.econbiz.de/10012478481

How Much do Idiosyncratic Bank Shocks Affect Investment? Evidence from Matched Bank-Firm Loan Data

Amiti, Mary - 2013

We show that supply-side financial shocks have a large impact on firms' investment. We develop a new methodology to … of aggregate loan and investment fluctuations …

Persistent link: https://www.econbiz.de/10012459771

Who Should Learn What From the Failure and Delayed Bailout of the ODGF?

Kane, Edward J. - 1987

In March 1985, the failure of the Ohio Deposit Guarantee Fund (the ODGF) sent shock waves reverberating through the financial world. This episode is popularly interpreted as evidence of the dangers of both private deposit insurance and continuing financial deregulation. This paper argues that...

Persistent link: https://www.econbiz.de/10012476808

Who Panics During Panics? Evidence from a Nineteenth Century Savings Bank

Grada, Cormac O. - 2002

Using records of the bank accounts of individual depositors, this paper provides a detailed microeconomic analysis of two nineteenth century banking panics. The panics of 1854 and 1857 were not characterized by an immediate mass panic of depositors and had important time dimensions. We examine...

Persistent link: https://www.econbiz.de/10012469859

Taxation and the Sources of Growth : Estimates from United States Multinational Corporations

Cummins, Jason G. - 1998

Capital income tax policy affects investment by the parent and affiliates of multinational corporations (MNCs). In a … model in which technical advances are embodied in new capital, investment will translate directly into productivity gains … 1992, due to productivity growth in MNCs with Canadian affiliates; (3) the investment elasticity of productivity growth is …

Persistent link: https://www.econbiz.de/10012472274

How do Financial Crises Redistribute Risk?

Mitchener, Kris; Vossmeyer, Angela - National Bureau of Economic Research - 2023

We examine how financial crises redistribute risk, employing novel empirical methods and micro data from the largest financial crisis of the 20th century - the Great Depression. Using balance-sheet and systemic risk measures at the bank level, we build an econometric model with incidental...

Persistent link: https://www.econbiz.de/10014337771

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