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Monetary Policy and Regional Interest Rates in the United States, 1880-2002

Landon-Lane, John - 2004

The long running debate among economic historians over how long it took regional financial markets in the United States to become fully integrated should be of considerable interest to students of monetary unions. This paper reviews the debate, discusses the implications of various hypotheses...

Persistent link: https://www.econbiz.de/10012467763

Exporting Liquidity : Branch Banking and Financial Integration

Gilje, Erik P. - 2013

Using exogenous deposit windfalls from oil and natural gas shale discoveries, we demonstrate that bank branch networks help integrate U.S. lending markets. We find that banks exposed to shale booms increase their mortgage lending in non-boom counties by 0.93% per 1% increase in deposits. This...

Persistent link: https://www.econbiz.de/10012459258

Branch Banking, Bank Competition, and Financial Stability

Carlson, Mark - 2005

It is often argued that branching stabilizes banking systems by facilitating diversification of bank portfolios; however, previous empirical research on the Great Depression offers mixed support for this view. Analyses using state-level data find that states allowing branch banking had lower...

Persistent link: https://www.econbiz.de/10012467393

Constituencies and Legislation : The Fight over the McFadden Act of 1927

Rajan, Raghuram G. - 2011

The McFadden Act of 1927 was one of the most hotly contested pieces of legislation in U.S. banking history, and its influence was still felt over half a century later. The act was intended to force states to accord the same branching rights to national banks as they accorded to state banks. By...

Persistent link: https://www.econbiz.de/10012461391

Branch Banking as a Device for Discipline : Competition and Bank Survivorship During the Great Depression

Carlson, Mark - 2007

Because California was a pioneer in the development of intrastate branching, we use its experience during the 1920s and 1930s to assess the effects of the expansion of large-scale, branch-banking networks on competition and the stability of banking systems. Using a new database of individual...

Persistent link: https://www.econbiz.de/10012465718

Liquidity Requirements, Free-Riding, and the Implications for Financial Stability Evidence from the early 1900s

Carlson, Mark - 2020

Maintaining sufficient liquidity in the financial system is vital for its stability. However, since returns on liquid assets are typically low, individual financial institutions may seek to hold fewer such assets, especially if they believe they can rely on other institutions for liquidity...

Persistent link: https://www.econbiz.de/10012482132

Paving the Way to Development : Costly Migration and Labor Market Integration

Morten, Melanie - 2016

How integrated are labor markets within a country? Labor mobility is key to the integration of local labor markets and therefore to understanding the efficacy of policies to reduce regional inequality. We present a comprehensive framework for understanding migration decisions, focusing on the...

Persistent link: https://www.econbiz.de/10012456517

The Industrialization of South America Revisited : Evidence from Argentina, Brazil, Chile and Colombia, 1890-2010

Paolera, Gerardo della - 2018

We use new manufacturing GDP time series to examine the industrialization in Argentina, Brazil, Chile, and Colombia … industrialization had overlooked. Rather than providing a single explanation of how specific shocks or policies shaped the … industrialization of the region, our argument is that the timing of the industrial take off was linked to initial conditions, while …

Persistent link: https://www.econbiz.de/10012453369

Does the Geographic Expansion of Bank Assets Reduce Risk?

Goetz, Martin - 2014

We develop a new identification strategy to evaluate the impact of the geographic expansion of bank holding company (BHC) assets across U.S. metropolitan statistical areas (MSAs) on BHC risk. We find that the geographic expansion of bank assets reduces risk. Moreover, geographic expansion...

Persistent link: https://www.econbiz.de/10012457908

Local Currency Bond Markets

Burger, John D. - 2006

We analyze the development of 49 local bond markets. Our main finding is that policies and laws matter: Countries with stable inflation rates and strong creditor rights have more developed local bond markets and rely less on foreign-currency-denominated bonds. The results suggest that "original...

Persistent link: https://www.econbiz.de/10012466111