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 truncation that jointly considers bank survival, the type of bank closure … (consolidations, absorption, and failures), and changes to bank risk. Despite roughly 9,000 bank closures, risk did not leave the …

U.S. banking crisis of the 20th century. Our systemic risk measure captures both the credit risk of an individual bank … as well as a bank’s position in the network. We construct linkages between all U.S. commercial banks in 1929 and 1934 so … banking crisis that occurred between 1930{33 raised systemic risk per bank by 33% and increased the riskiness of the very …

externalities between the two countries arise from cross-border bank ownership. The two countries face (i) a regulatory decision of … contrast, bailout policies are centralized only when international spillovers from cross-border bank ownership are strong, and …

the public, long-term systemic risk among banks tends to increase. From the dynamic perspective, bank penalties represent … long-term. In this respect, bank penalties resemble still waters that run deep. In contrast, a settlement with regulatory …

Japanese banking crisis. By leveraging a unique dataset merging firm-level financial statements and bank balance sheets, the …