Financial crises have occurred for many centuries. They are often preceded by a credit
boom and a rise in real estate and other asset prices, as in the current crisis. They are also …

Economic theories posit that bank liability insurance is designed to serve the public interest
by mitigating systemic risk in the banking system through the reduction of liquidity risk …

Post-crisis stress tests have altered banks' credit supply to small business. Banks most
affected by stress tests reallocate credit away from riskier markets and toward safer ones …

We develop a structural empirical model of the US banking sector. Insured depositors and
run-prone uninsured depositors choose between differentiated banks. Banks compete for …

This paper conducts the first empirical assessment of theories concerning risk taking by
banks, their ownership structures, and national bank regulations. We focus on conflicts …

We develop a new identification strategy to evaluate the impact of the geographic expansion
of a bank holding company (BHC) across US metropolitan statistical areas (MSAs) on BHC …

We examine historical banking crises through the lens of bank equity declines, which cover
a broad sample of episodes of banking distress with and without banking panics. To do this …

This volume assembles and presents a database on bank regulation in over 150 countries
(included also on CD). It offered the first comprehensive cross-country assessment of the …

We study the nature of systemic sovereign credit risk using CDS spreads for the US
Treasury, individual US states, and major Eurozone countries. Using a multifactor affine …

We provide new evidence that a disruption in credit supply played a quantitatively significant
role in the unprecedented contraction of employment during the Great Depression using a …