Are banks really special?
Subtitle: new evidence from the FDIC-induced failure of healthy banks
By: Adam B. Ashcraft.
Contributors: Federal Reserve Bank of New York.
Series: Staff reports ;; no. 176; Staff reports (Federal Reserve Bank of New York : Online) ;; no. 176.
Publisher: Federal Reserve Bank of New York
Published: 2003
Place of publication: [New York, N.Y.]
Language: eng
Format: Electronic resource
Subjects: First Republicbank of Texas.; First City Bancorporation of Texas.; Bank failures -- Texas.
Description: "The FDIC used cross-guarantees to close thirty-eight subsidiaries of First RepublicBank Corporation in 1988 and eighteen subsidiaries of First City Bancorporation in 1992 when lead banks from each of these Texas-based bank holding companies were declared insolvent.  I use this exogenous failure of otherwise healthy subsidiary banks as a natural experiment for studying the impact of bank failure on local-area real economic activity.  I find that the closings of the subsidiaries were associated with a significant decline in bank lending that led to a permanent reduction in real county income of about 3 percent"--Federal Reserve Bank of New York web site.
Notes: Includes bibliographical references.
Title from PDF file as viewed on 3/3/2005.
Also available in print.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.