certificates as borrowing from a lender of last resort. We evaluate individual bank use of clearinghouse loan certificates in New … York City using bank balance sheet data. Bank capital ratios do not predict positive net borrowing. Lower pre-panic reserve …

--for bank monitoring and information provision. Historical evidence provided by these banknote reporters suggests that reporters … and brokers efficiently priced bank default risks. Brokers typically downgraded the debt issues of a troubled banks two … years prior to its failure. In other cases, brokers often downgraded a bank's debt, forcing the bank to shape up and causing …

removing barriers to bank entry on bank competition and economic growth. As governments were not concerned about systemic … stability in this period, we are able to isolate the effects of bank competition from those of state implicit guarantees. We … find that the introduction of free banking laws stimulated the creation of new banks and led to more bank failures. Our …

removing barriers to bank entry on bank competition and economic growth. As governments were not concerned about systemic … stability in this period, we are able to isolate the effects of bank competition from those of state implicit guarantees. We … find that the introduction of free banking laws stimulated the creation of new banks and led to more bank failures. Our …

removing barriers to bank entry on bank competition and economic growth. As governments were not concerned about systemic … stability in this period, we are able to isolate the effects of bank competition from those of state implicit guarantees. We … find that the introduction of free banking laws stimulated the creation of new banks and led to more bank failures. Our …

degrees of dependence on external financing or access to capital. However, because regulations affecting bank entry varied … sector. Regulations on bank entry and other banking market characteristics thus appear to exert an independent influence on …

of as much as 3.8% in the ratios of intermediary assets to GNP and reductions of as much as 6.4% in the ratios of bank …