When banks are faced with a funding shortage in money market wholesale funding, they partly substitute by tapping other wholesale funding sources. Using auction-level data on large corporate deposits, we trace these substitution effects and their implications, which go beyond the balance sheets...

This study examined the distribution of new firm formation in New England from 1999 through 2009. Using discrete entropy and entropy decomposition, it was found that single-unit firm births are spatially dispersed. The distributional patterns do not vary substantially across the study period....