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This essay examines how the Banking Acts of the 1933 and 1935 and related New Deal legislation influenced risk taking in the financial sector of the U.S. economy. The analysis focuses on contingent liability of bank owners for losses incurred by their firms and how the elimination of this...
Persistent link: https://www.econbiz.de/10013085120
Have bank regulatory policies and unconventional monetary policies—and any possible interactions—been a factor behind the recent “deglobalisation” in cross-border bank lending? To test this hypothesis, we use bank-level data from the UK—a country at the heart of the global financial...
Persistent link: https://www.econbiz.de/10012989730
Using data from British and American banks, we provide empirical evidence that government intervention affects banking globalization along three dimensions: depth, breadth and persistence. We examine depth by studying whether a bank's preference for domestic, as opposed to external, lending...
Persistent link: https://www.econbiz.de/10012998957
This paper models and estimates ex ante safety-net benefits at a sample of large banks in US and Europe during 2003 … institutions. Safety-net benefits prove significantly larger for DFU firms in Europe and bailout decisions less driven by asset … size than in the US. We also find that a proxy for regulatory capture helps to explain bailout decisions in Europe. A …
Persistent link: https://www.econbiz.de/10013130253
Urban density both facilitates consumption opportunities and encourages individuals to drive less and walk and use public transit more. Using several data sets, we document that high quality of life consumer center cities are low carbon cities. We discuss possible causal channels for this...
Persistent link: https://www.econbiz.de/10013087788
worse than the rest of Europe. Deaths from chronic liver disease and lung cancer are particularly prevalent in Scotland. The …
Persistent link: https://www.econbiz.de/10013219200
much less, in (continental) Europe over the same time period. I review the two most popular explanations for these … differential trends: that relative supply of skills increased faster in Europe, and that European labor market institutions … where labor market institutions creating wage compression in Europe also encourage more investment in technologies …
Persistent link: https://www.econbiz.de/10013246486
stabilizers in Eastern and Southern Europe are much lower than in Central and Northern European countries. We also investigate …
Persistent link: https://www.econbiz.de/10013139144
three approaches to analyze debt sustainability in the United States and Europe after the recent surge in public debt …
Persistent link: https://www.econbiz.de/10013015096
This study grounds the establishment of EMU and the euro in the context of the history of international monetary cooperation and of monetary unions, above all in the U.S., Germany and Italy. The purpose of national monetary unions was to reduce transactions costs of multiple currencies and...
Persistent link: https://www.econbiz.de/10012772728