We examine the golden age of US innovation by undertaking a major data collection
exercise linking historical US patents to state and county-level aggregates and matching …

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 …

This article surveys the recent empirical literature on historical banking crises, defined as
events taking place before 1980. Advances in data collection and identification have …

We employ a unique data set on members of an elite service club in Germany to investigate
how social connections in elite networks affect the allocation of resources. Specifically, we …

How does banking competition affect credit provision and growth? How does it affect
financial stability? In order to identify the causal effects of banking competition, we exploit a …

My advisor's advisor William Parker organized a session at the 1984 annual meetings of the
American Economic Association (AEA) in Dallas, to discuss the role of economic history in …

Anemic financial markets mire countries in poverty. There are other reasons why countries
remain poor, but a feeble financial system blocks economic growth; or so both modern …

This paper examines whether multinational banks have a stabilizing or a destabilizing role
during times of financial distress. With a focus on Europe, it looks at how these banks' …

This paper finds that banks and nonbanks respond differently to increased competition in
consumer credit markets. Increased competition and a greater threat of failure induces …

This paper analyzes the relationship between the competitive environment faced by
depository institutions and the decisions these institutions make regarding the size of their …