those investors facing losses. The anticipation of such a "bailout" distorts ex ante incentives, leading intermediaries to … incentive problem while improving financial stability. -- Bank runs ; financial regulation …

time series and the cross section. TSIZE-implied subsidies increase around the bailout of Continental Illinois in 1984 and …

We use the German Crisis of 1931, a key event of the Great Depression, to study how depositors behave during a bank run …

Using a synthetic control research design, we find that "living will" regulation increases a bank's annual cost of …

Prior to the Great Depression, regulators imposed double liability on bank shareholders to ensure financial stability … mitigating bank risks and providing a safety net for depositors before and during the Great Depression. We first develop a model … that demonstrates two competing effects of double liability: a direct effect that constrains bank risk taking as a result …

Many large U.S. bank holding companies (BHCs) continued to pay dividends during the recent financial crisis, even as …

intermediation through MMFs allows investors to limit their exposure to a given bank (i.e., reap gains from diversifi cation … an MMF-intermediated financial system is the release of private information on bank assets, which is aggregated by MMFs … and could lead them to withdraw en masse from a bank. In addition, we show that MMF intermediation can also be a channel …