extent of fire-sale problems, and the severity of liquidity crises. In a basic framework with a single bank, we find that …

We examine how banks affect firms' cash holdings by focusing on the soundness of banks in Japan, a bank-centered market … deterioration of bank soundness decreases bank-dependent firm investment and firm value. Cash holdings of bank-dependent firms … results, which are consistent with the financial constraint hypothesis and are inconsistent with the bank power hypothesis …

technique, the study shows that interbank borrowing has a significant impact on the bank credit, and an inverse relationship …

This paper identifies how bank branching benefited local economies during the Great Depression. Using archival data and … narrative evidence, I show how Bank of America's branch network in 1930s California created an internal capital market to … competing banking offices. The bank's presence caused smaller city property value contractions and stronger recoveries through …

sensitivity of uninsured deposit flows to bank performance and greater levels of uninsured deposit outflows when performance is …

explains the link between the liquidity premium and spreads. We present a theory of endogenous bank fragility arising from a … coordination friction among bank creditors. The theory's implications reduce to a single constraint on banks, which is embedded in … that reduce bank net worth exacerbate the coordination friction. In response, banks lend less and demand more liquid assets …