Do stock markets act as a spare tire during banking crises, providing an alternative corporate financing channel and mitigating the economic severity of these crises? Using firm-level data in 36 countries from 1990 through 2011, we find that the adverse consequences of banking crises on equity...

Leaders from across the political spectrum articulate the virtues of homeownership. As expressed in the above quotations, both Republican and Democratic presidents emphasize that homeownership is part of the American dream. Besides the direct benefits accruing to a family owning its own house,...

"This paper conducts the first empirical assessment of theories concerning relationships among risk taking by banks, their ownership structures, and national bank regulations. We focus on conflicts between bank managers and owners over risk, and show that bank risk taking varies positively with...