banks during the recent financial crisis. I find that banks held more liquid assets in anticipation of future losses from … hoarding. Moreover, I find that more than one-fourth of the reduction in bank lending during the crisis is due to the …

Did government mortgage programs mitigate the adverse economic effects of the financial crisis? We find that counties … (soon after the peak of the financial crisis) and in 2014 (six years after the crisis). The persistence of better economic …

the financial crisis. Alternative benchmark VaR measures, including GARCH-based measures, are also estimated directly from … the banks' trading revenues and help to explain the bank VaR performance results. While highly conservative in the pre-crisis … period, bank VaR exceedances were excessive and clustered in the crisis period. All benchmark VaRs were more accurate in the …

before the financial crisis of 2007--2009 have higher mortgage delinquency and charge-off rates and significantly higher … probabilities of failure during the crisis even after controlling for standard bank characteristics and local economic conditions …

nonbanks with fragile liabilities experience greater sales and price volatility during the 2008 crisis …