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Report
Small Banks Squeezed
With consistent loan quality and resilient lending activity, community banks?and the traditional banking model they represent?can be a much-needed force for financial stability. Unfortunately, they?ve struggled to maintain market share, partly as a result of unintended consequences of public policy.
Journal Article
Financiers of the world, disunite
When large in number, intermediaries—even those reputed for high risk and correlated strategies—exhibit substantial diversity that adds an important element of stability to the financial system.
Journal Article
Redlining or red herring?
Working Paper
Separating the likelihood and timing of bank failure
Journal Article
Cycle-resistant credit systems: learning from Hong Kong’s experience
Hong Kong?s home mortgage market has remained among the world?s most stable. Supervisory authorities point to the 70 percent loan-to-value policy.
Working Paper
Separating the likelihood and timing of bank failure
Working Paper
Adverse selection and competing deposit insurance systems in pre-depression Texas
In 1910, Texas instituted a highly unique deposit insurance program for its state chartered banks consisting of two separate plans: the depositors guaranty fund, similar in operation to the deposit insurance schemes adopted in several other states; and the depositors bond security system, which required the procurement of a privately issued insurance policy. We hypothesize that the provision of a choice in funds led to risk-sorting among the banks, with the relatively conservative institutions opting for the comparatively rigorous bond security system. Employing a probit model with ...