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Amador, Manuel; Bianchi, Javier - National Bureau of Economic Research - 2024

We examine banking regulation in a macroeconomic model of bank runs. We construct a general equilibrium model where banks may default because of fundamental or self-fulfilling runs. With only fundamental defaults, we show that the competitive equilibrium is constrained efficient. However, when...

Persistent link: https://www.econbiz.de/10014528381

Book Value Risk Management of Banks : Limited Hedging, HTM Accounting, and Rising Interest Rates

Granja, João; Jiang, Erica Xuewei; Matvos, Gregor; … - National Bureau of Economic Research - 2024

In the face of rising interest rates in 2022, banks mitigated interest rate exposure of the accounting value of their assets but left the vast majority of their long-duration assets exposed to interest rate risk. Data from call reports and SEC filings shows that only 6% of U.S. banking assets...

Persistent link: https://www.econbiz.de/10014512148

Monetary Tightening and U.S. Bank Fragility in 2023 : Mark-to-Market Losses and Uninsured Depositor Runs?

Jiang, Erica Xuewei; Matvos, Gregor; Piskorski, Tomasz; … - National Bureau of Economic Research - 2023

We analyze U.S. banks' asset exposure to a recent rise in the interest rates with implications for financial stability. The U.S. banking system's market value of assets is $2 trillion lower than suggested by their book value of assets accounting for loan portfolios held to maturity....

Persistent link: https://www.econbiz.de/10014247969

Behavioral Corporate Finance : The Life Cycle of a CEO Career

Guenzel, Marius - 2020

stage, selection does not impede the promotion of behavioral managers. Instead, competitive environments oftentimes promote …

Persistent link: https://www.econbiz.de/10012481183

Shaped by Booms and Busts : How the Economy Impacts CEO Careers and Management Styles

Schoar, Antoinette - 2011

We show that economic conditions when managers enter the labor market have long-run effects on their career paths and … managerial styles. Managers who began their careers during recessions become CEOs more quickly, but at smaller firms. They also … environment is important to the formation and selection of managers …

Persistent link: https://www.econbiz.de/10012461067

Deposit and Credit Reallocation in a Banking Panic : The Role of State-Owned Banks

Acharya, Viral V.; Das, Abhiman; Kulkarni, Nirupama; … - National Bureau of Economic Research - 2022

We study a bank run in India in which private bank branches experience sudden and considerable loss of deposits that seek safety in state-owned public sector banks (PSBs). We trace the consequences of this reallocation using granular data on bank-firm relationships and branch balance sheets. The...

Persistent link: https://www.econbiz.de/10013435119

The Informational Centrality of Banks

Foley-Fisher, Nathan; Gorton, Gary; Verani, Stéphane - National Bureau of Economic Research - 2023

The equity and debt prices of large nonbank firms contain information about the future state of the banking system. In this sense, banks are informationally central. The amount of this information varies over time and over equity and debt. During a financial crisis banks are, by definition of a...

Persistent link: https://www.econbiz.de/10014447327

Bank Branch Density and Bank Runs

Benmelech, Efraim; Yang, Jun; Zator, Michal - National Bureau of Economic Research - 2023

Bank branch density, defined as the number of bank branches to total deposits, has significantly declined over the past decade, fueled by a confluence of branch closings and the almost doubling of deposits between 2016 and 2022. During this period, banks with low branch density benefited from...

Persistent link: https://www.econbiz.de/10014322849

Restoring Confidence in Troubled Financial Institutions After a Financial Crisis

Calomiris, Charles W.; Carlson, Mark - National Bureau of Economic Research - 2022

After an unprecedented number of banks suspended operations during the Panic of 1893, the head regulator of banks chartered by the United States government allowed about 100 banks to reopen after certifying their solvency. We evaluate whether actions by bank owners to change management, contract...

Persistent link: https://www.econbiz.de/10013334444

Bank Payout Policy, Regulation, and Politics

Fahlenbrach, Rüdiger - 2024

Bank payout policy is strongly affected by regulation and politics, especially for the largest banks. Banks, but not industrial firms, have consistently lower payouts in times of high regulation uncertainty and under democratic presidents. After the Global Financial Crisis, bank regulators'...

Persistent link: https://www.econbiz.de/10015056096

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