Because of secrecy, little is known about the political economy of central bank lending. Utilizing a novel, hand … unprecedented government bailout of the central bank, and resulted in loss of shareholder control over the central bank …

Before the era of large central bank balance sheets, banks relied on incoming payments to fund outgoing payments in … order to conserve scarce liquidity. Even in the era of large central bank balance sheets, rather than funding payments with … balances. Our findings are timely, given the ongoing shrinking of central bank balance sheets around the world in response to …

of central bank balance sheets involves tradeoffs between monetary policy and financial stability …

We study the transmission of monetary policy through bank securities portfolios using granular supervisory data on U ….S. bank securities, hedging positions, and corporate credit. Banks that experienced larger losses on their securities during …

This paper provides the first comprehensive econometric analysis of the causes of bank distress during the Depression …. We assemble bank-level data for virtually all Fed member banks, and combine those data with county-level, state … bank failure. We construct a model of bank survival duration using these fundamental determinants of bank failure as …

locations of large-bank branches have demographics typically associated with greater financial sophistication, large-bank …

This paper identifies how bank branching benefited local economies during the Great Depression. Using archival data and … narrative evidence, I show how Bank of America's branch network in 1930s California created an internal capital market to … competing banking offices. The bank's presence caused smaller city property value contractions and stronger recoveries through …

Bank liquid asset holdings vary significantly across banks and through time. The determinants of liquid asset holdings …

We examine banking regulation in a macroeconomic model of bank runs. We construct a general equilibrium model where …