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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
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Exporting Liquidity : Branch Banking and Financial Integration
Gilje, Erik - 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
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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
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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
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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
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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
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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
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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
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Does Local Financial Development Matter?
Guiso, Luigi - 2002
We study the effects of differences in local financial development within an integrated financial market. To do so, we construct a new indicator of financial development by estimating a regional effect on the probability that, ceteris paribus, a household is shut off from the credit market. By...
Persistent link: https://www.econbiz.de/10012469791
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Banking-Crisis Interventions, 1257-2019
Metrick, Andrew; Schmelzing, Paul - National Bureau of Economic Research - 2021
We present a new database of banking-crisis interventions since the 13th century. The database includes 1886 interventions in 20 categories across 138 countries, covering interventions during all of the crises identified in the main banking-crisis chronologies, while also cataloguing a large...
Persistent link: https://www.econbiz.de/10012629501