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How Do Banks React to Catastrophic Events? Evidence from Hurricane Katrina
(2017-09-01)
This paper explores how banks react to an exogenous shock caused by Hurricane Katrina in 2005, and how the structure of the banking system affects economic development following the shock. Independent banks based in the ...
Rent-Seeking in Elite Networks
(2017-01-31)
We employ a unique dataset on members of an elite service club in Germany to investigate how social connections in elite networks affect the allocation of resources. Specifically, we investigate credit allocation decisions ...
Social Centralization, Bank Integration and the Transmission of Lending Shocks
(2017-08-01)
We introduce an innovative approach to measure bank integration, based on the corporate culture of multinational banking conglomerates. The new measure, the Power Index, assesses the prevalence of a language of power and ...
International Banking Conglomerates and the Transmission of Lending Shocks Across Borders
(2017-08-01)
We investigate how solvency and wholesale funding shocks to 84 OECD parent banks affect the lending of 375 foreign subsidiaries. We find that parent solvency shocks are more important than wholesale funding shocks for ...
Remarks on the German Regulation of Crowdfunding
(2017-12-05)
Crowdfunding is a buzzword that signifies a sub-set in the new forms of finance facilitated by advances in information technology usually categorized as fintech. Concerns for financial stability, investor and consumer ...