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'Loans for the Little Fellow : ' Credit, Crisis, and Recovery in the Great Depression

Quincy, Sarah - 2019

This paper studies how structural transformation exacerbates financial crises. Using newly collected data, I document the persistent effect of credit supply shocks on local economies during the Great Depression. Cities with access to an unusually generous branching network were no different from...

Persistent link: https://www.econbiz.de/10012857844

Loans for the "Little Fellow : " Credit, Crisis, and Recovery in the Great Depression

Quincy, Sarah - National Bureau of Economic Research - 2023

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 diversify away local liquidity shortfalls, allowing it...

Persistent link: https://www.econbiz.de/10014421204

Systemic Risk and Monetary Policy : The Haircut Gap Channel of the Lender of Last Resort

Jasova, Martina; Laeven, Luc; Mendicino, Caterina; … - 2021

We show that lender of the last resort (LOLR) policy contributes to higher bank interconnectedness and systemic risk. Using novel micro-level data, we analyze the haircut gap channel of LOLR – the difference between the private market and central bank haircuts. LOLR increases...

Persistent link: https://www.econbiz.de/10013225855

Shadow Banking and Financial Stability Under Limited Deposit Insurance

Voellmy, Lukas - 2021

I study the relation between shadow banking and financial stability in an economy in which banks are susceptible to self-fulfilling runs and in which government-backed deposit insurance is limited. Shadow banks issue only uninsured deposits while commercial banks issue both insured and uninsured...

Persistent link: https://www.econbiz.de/10013315066

Money, regulation and growth : financing new growth in Europe : a joint publication with the BAFFI Center on International Markets, Money & Regulation

Quintyn, Marc (ed., introduction); … - Colloquium/Conference "Money, Regulation and Growth: …; … - 2014

On June 4-5, 2014, SUERF and Baffi Finlawmetrics jointly organised a Colloquium/Conference "Money, Regulation and Growth: Financing New Growth in Europe" at Bocconi University, Milan. The present SUERF Study includes a selection of papers based on the authors’ contributions to the Milan event....

Persistent link: https://www.econbiz.de/10011711957

Banks' trading after the Lehman crisis : the role of unconventional monetary policy

Podlich, Natalia; Schnabel, Isabel; Tischer, Johannes - 2017

the change in eligibility criteria for collateral in central bank refinancing operations. Our results show that market …

Persistent link: https://www.econbiz.de/10011671299

Monetary Policy, Macroprudential Policy, and Financial Stability

Martinez-Miera, David; Repullo, Rafael - 2021

This paper reexamines from a theoretical perspective the role of monetary and macroprudential policies in addressing the build-up of risks in the financial system. We construct a stylized general equilibrium model in which the key friction comes from a moral hazard problem in firms financing...

Persistent link: https://www.econbiz.de/10013315361

Money, regulation and growth : financing new growth in Europe ; [on 4 - 5 June, 2014, SUERF and Baffi Finlawmetrics jointly organised a Colloquium/Conference "Money, Regulation and...

Quintyn, Marc (contributor); Bruni, Franco (contributor) - 2014

Persistent link: https://www.econbiz.de/10010468574

(Pro?)-cyclicality of collateral haircuts and systemic illiquidity

Glaser, Florian; Panz, Sven - 2016

Procyclicality of collateral haircuts and margins has become a widely proclaimed behavior and is currently discussed … a trigger of liquidity spirals due to its tightening effect of collateral portfolio values in times of market distress … design for macroprudential haircut add-ons. Our results confirm that (1) bond collateral markets face irrational, i.e. bubble …

Persistent link: https://www.econbiz.de/10011975294

A macroeconomic model with financial panics

Gertler, Mark; Kiyotaki, Nobuhiro; Prestipino, Andrea - 2017

This paper incorporates banks and banking panics within a conventional macroeconomic framework to analyze the dynamics of a financial crisis of the kind recently experienced. We are particularly interested in characterizing the sudden and discrete nature of the banking panics as well as the...

Persistent link: https://www.econbiz.de/10011780335