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Real Interest Rates and the Savings and Loan Crisis : the Moral Hazard Premium
Shoven, John B. - 2008
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/10012774767
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The Continued Interest Rate Vulnerability of Thrifts
Hendershott, Patric H. - 2009
-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/10013155885
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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/10013085124
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Who Panics During Panics? Evidence from a Nineteenth Century Savings Bank
O'Grada, Cormac; White, Eugene N. - 2021
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/10013212881
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Who Should Learn What from the Failure and Delayed Bailout of the Odgf?
Kane, Edward J. - 2021
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/10013243455
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Taxation and the Sources of Growth : Estimates from United States Multinational Corporations
Cummins, Jason G. - 2022
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/10013322112
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Did Railroads Make Antebellum U.S. Banks More Sound?
Atack, Jeremy - 2014
We investigate the relationships of bank failures and balance sheet conditions with measures of proximity to different forms of transportation in the United States over the period from 1830-1860. A series of hazard models and bank-level regressions indicate a systematic relationship between...
Persistent link: https://www.econbiz.de/10013055511
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Banks’ Internal Capital Markets and Deposit Rates
Ben-David, Itzhak - 2015
A common view is that deposit rates are determined primarily by supply: depositors require higher deposit rates from risky banks, thereby creating market discipline. An alternative perspective is that market discipline is limited (e.g., due to deposit insurance and/or enhanced capital...
Persistent link: https://www.econbiz.de/10013016009
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The Attraction of Foreign Manufacturing Investments : Investment Promotion and Agglomeration Economies
Head, Keith - 2008
strong agglomeration economies in Japanese investment. Two policy variables are consistently shown to influence the location … of investment - foreign trade zones and labor subsidies. We use simulations to explore the impact these policies had on … the geographic distribution of Japanese investment. The simulations reveal that in aggregate promotion programs largely …
Persistent link: https://www.econbiz.de/10012774874
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Foreign Direct Investment and the Domestic Capital Stock
Desai, Mihir A. - 2005
This paper evaluates evidence of the impact of outbound foreign direct investment (FDI) on domestic investment rates …. OECD countries with high rates of outbound FDI in the 1980s and 1990s exhibited lower domestic investment than other … countries, which suggests that FDI and domestic investment are substitutes. U.S. time series data tell a very different story …
Persistent link: https://www.econbiz.de/10012784973