When a bank experiences a negative shock to its equity, one way to return to target leverage is to sell assets. If … asset sales occur at depressed prices, then one bank's sales may impact other banks with common exposures, resulting in … explains how the distribution of bank leverage and risk exposures contributes to a form of systemic risk. We compute bank …

the area that would eventually become the Manufacturing Belt. Using a new bank census, the paper shows that these changes …

Reserve discount window through contacts with Federal Reserve members. We find that individual bank attributes related to the … that a bank's position within the interbank network (as a user or provider of liquidity) predicts the timing of its entry …

and central bank conservatism on economic performance. Several striking conclusions emerge. In relatively centralized … of central bank conservatism. A radical-populist central banker who cares not at all about inflation (alternatively, who …

composition of bank portfolios. According to the credit rationing view, equilibrium credit rationing in a world of asymmetric … institutional features of the national banking era. Most of the variation in bank loans is accounted for by loans secured by stock … the VAR model is greatly reduced, while the influence of money remains robust. The breakdown of the composition of bank …