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Bringing "honest capitalʺ to poor borrowers : the passage of the uniform small loan law, 1907-1930
Carruthers, Bruce G.; Guinnane, Timothy; Lee, Yoonseok - 2009
The Uniform Small Loan Law (USLL) was the Russell Sage Foundation’s primary device for fighting what it viewed as the scourge of high-rate lending to poor people in the first half of the twentieth century. The USLL created a new class of lenders who could make small loans at interest rates...
Persistent link: https://www.econbiz.de/10003841394
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Credit Availability and the Collapse of the Banking Sector in the 1930s
Carlson, Mark A. - 2011
This paper examines the mechanism through which banking sector distress affects the availability of credit. We use the experience of the United States during the Great Depression, a period of intense bank distress, to conduct our analysis. We utilize previously neglected data from a 1934 survey...
Persistent link: https://www.econbiz.de/10013118655
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Credit Availability and the Collapse of the Banking Sector in the 1930s
Carlson, Mark A. - 2011
This paper examines the mechanism through which banking sector distress affects the availability of credit. We use the experience of the United States during the Great Depression, a period of intense bank distress, to conduct our analysis. We utilize previously neglected data from a 1934 survey...
Persistent link: https://www.econbiz.de/10013120553
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Liquidity Risk, Bank Networks, and the Value of Joining the Federal Reserve System
Calomiris, Charles W. - 2018
Reducing systemic liquidity risk related to seasonal swings in loan demand was one reason for the founding of the Federal Reserve System. Existing evidence on the post-Federal Reserve increase in the seasonal volatility of aggregate lending and the decrease in seasonal interest rate swings...
Persistent link: https://www.econbiz.de/10012937500
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Liquidity Risk, Bank Networks, and the Value of Joining the Federal Reserve System
Calomiris, Charles W. - 2016
Reducing systemic liquidity risk related to seasonal swings in loan demand was one reason for the founding of the Federal Reserve System. Existing evidence on the post-Federal Reserve increase in the seasonal volatility of aggregate lending and the decrease in seasonal interest rate swings...
Persistent link: https://www.econbiz.de/10012987352
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Contagion of fear
Mitchener, Kris; Richardson, Gary - 2020
The Great Depression is infamous for banking panics, which were a symptomatic of a phenomenon that scholars have labeled a contagion of fear. Using geocoded, microdata on bank distress, we develop metrics that illuminate the incidence of these events and how banks that remained in operation...
Persistent link: https://www.econbiz.de/10012194368
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Are universal banks better underwriters? : evidence from the last days of the Glass-Steagall Act
Focarelli, Dario; Marqués Ibáñez, David; Pozzolo, … - 2011
's restrictions. Securities underwritten by commercial banks' subsidiaries have a higher probability of default than those … gain market share and/or to the lower initial ability of these banks to correctly evaluate default risk. - Glass …-Steagall Act ; securities underwriting ; default ; investment banking …
Persistent link: https://www.econbiz.de/10008901496
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Regulators' Irrational Rationality and Bankers' Rational Irrationality : Too Big to Fail, Self-Regulation, Moral Hazard and the Global Financial Crisis, 2007-2009
Umlauft, Thomas S. - 2018
Banks and other financial institutions which were too-big-to-fail (TBTF) played a central role during the Global Financial Crisis of 2007-2009. The present article lays out how misguided policies enabled banks to grow both in size as well as in complexity and therefore acquire TBTF status,...
Persistent link: https://www.econbiz.de/10012937724
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Are Universal Banks Better Underwriters? Evidence from the Last Days of the Glass-Steagall Act
Focarelli, Dario - 2010
, securities underwritten by commercial banks' subsidiaries have a higher probability of default than those underwritten by …
Persistent link: https://www.econbiz.de/10013146617
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Are Universal Banks Better Underwriters? Evidence From the Last Days of the Glass-Steagall Act
Focarelli, Dario; Marques-Ibanez, David; Pozzolo, Alberto F. - 2021
’s restrictions. Securities underwritten by commercial banks’ subsidiaries have a higher probability of default than those … gain market share and or to the lower initial ability of these banks to correctly evaluate default risk …
Persistent link: https://www.econbiz.de/10013316115