The Gramm-Leach-Bliley Act (GLBA) of 1999 marks the end of Depression era regulations like the Glass-Steagall Act of 1933 and Bank Holding Company Act of 1956. These acts have restricted banks from securities and insurance underwriting business. This paper examines the impact of the GLBA on the...

Facing the worst financial crisis since the Great Depression, the Federal Reserve (Fed) has responded with sweeping, unprecedented actions to aid a slowing economy and stimulate a frozen credit market. We focus on the policy changes instituted by the Fed and their wealth effects on banks,...

In this paper, we investigate how monetary policy innovations affect the equity returns of bank holding companies (BHCs). We also examine bank characteristics to determine what explains the cross-sectional and time-series variation in the returns' sensitivity. Similar to non-financial firms, we...

This study analyses the impact of financial sector reforms from the early 1990s on promoting economic growth in Morocco. To derive feasible policy implications, we estimate not only pooled regressions, but also variance decompositions of GDP growth rates to examine what proxy measures of...