Had written while the: Kupiec, Paul H. and you may Carlos D. Ramirez. «Lender Downfalls and also the Price of Endemic Risk: Evidence off 1900-1930.» Diary out of Financial Intermediation twenty-two, no. 3 (2013): 285-307.
This report discusses the outcome away from bank problems on the financial gains playing with research out of 1900 in order to 1930, a period of time that predates effective authorities stabilizing guidelines and you may boasts periods away from bank operating system worry which aren’t coincident which have recessions. Having fun with both VAR and you can a distinction-in-difference methods you to definitely exploits the fresh new reactions of New york and you can Connecticut economies to your Worry away from 1907, i imagine the newest effect regarding lender failures towards the financial passion. Over this era, an effective 0.a dozen % (step one basic deviation) escalation in the newest debts of your own failed depository establishments causes a decrease in 17 payment items about growth rate away from commercial production and you may a beneficial 4 percentage part lowering of real GNP gains.
Authored due to the fact: Jorion, Philippe and you will Gaiyan Zhang. «Credit Contagion of Counterparty Exposure.» The new Log of Fund 64, no. 5 (2009): 2053-2087.
Standard credit exposure habits try not to give an explanation for observed clustering away from standard, often referred to as «borrowing from the bank contagion.» So it paper has got the first empirical research away from borrowing from the bank contagion through head counterparty effects. I have a look at brand new money aftereffects of bankruptcy proceeding notices into financial institutions having fun with another databases.
Leer másThe results imply that lender disappointments eliminate next economic gains
