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 …

identify the causal effects of banking competition, we exploit a discontinuity in bank capital requirements during the 19th …

This study reports estimates of the marginal benefits and costs of increasing the regulatory minimum bank equity …

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 …

). Because regulations affecting bank entry varied considerably across states and the industrial organization of the U.S. banking …