features financial frictions because banks benefit of a cost advantage at monitoring firms and face costly equity issuance. The … competitive equilibrium outcome is inecient because agents do not internalize the e↵ects banks' capitalization over the allocation … banks are poorly capitalized, therefore enhancing their market valuation, fostering investments, and stabilizing the economy …

different areas of operations due to this event. Until actual health crisis, within their regular activities the banks performed … banks in North Macedonia for potential introduction of post-pandemic work from home. …

network. We estimate that the impairment of any of the five most active U.S. banks will result in significant spillovers to … other banks, with 38 percent of the network affected on average. The impact varies and can be larger on particular days and … in geographies with concentrated banking markets. When banks respond to uncertainty by liquidity hoarding, the potential …

, national banks raise overdraft fees relative to state-chartered banks in affected states. However, banks in affected states …

Not very. We find that weather disasters over the last quarter century had insignificant or small effects on U.S. banks … offsets losses and actually boosts profits at larger banks. Local banks tend to avoid mortgage lending where floods are more …