We find a negative relationship between bank distress and the level, quality and trajectory of
firm-level innovation during the Great Depression, particularly for R&D firms operating in …

The Federal Reserve Act divided Mississippi between the 6th (Atlanta) and 8th (St. Louis)
Districts. During the Great Depression, these districts' policies differed. Atlanta championed …

Interbank networks amplified the contraction in lending during the Great Depression. Panics
induced banks in the hinterland to withdraw interbank deposits from Federal Reserve …

During the contraction from 1929 to 1933, the Federal Reserve System tracked changes in
the status of all banks operating in the United States and determined the cause of each bank …

I examine the causal effect of bank failures during the Great Depression using the quasi-
experimental setup of Richardson and Troost (2009). The experiment is based on …

The history of the most acrimonious presidential handoff in American history--and of the
origins of twentieth-century liberalism and conservatism As historian Eric Rauchway shows …

Credit relationships are sticky. Stickiness makes relationships beneficial to borrowers in
times of their own distress but makes them potentially problematic when lenders themselves …

Using differences in regulation as a means of identification, we find that a reduction in local
financial intermediation capacity reduces the recovery rates on assets of failing banks. It also …

Bank distress was a defining feature of the Great Depression in the United States. Most
banks, however, weathered the storm and remained in operation throughout the contraction …

Abstract During the Progressive Era (1900–29), economic growth was rapid but volatile.
Boom and busts witnessed the formation and failure of tens of thousands of firms and …