Bank Networks and Systemic Risk: Evidence from the National Banking Acts
Bank Networks and Systemic Risk: Evidence from the National Banking Acts
复制标题
银行网络和系统性风险：来自国家银行法的证据
DOI：
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发表时间：
2016
期刊：
影响因子：
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通讯作者：
Jessie Jiaxu Wang
中科院分区：
文献类型：
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作者：
M. Paddrik;Haelim Anderson;Jessie Jiaxu Wang
1863年至1864年的《国家银行法》（NBAs）制定了管理银行间存款的数量和地点的规则，从而重塑了银行网络。利用1862年和1867年宾夕法尼亚州银行资产负债表和详细银行间存款的独特数据，我们研究了NBAs如何改变网络结构，并量化了银行间网络模型对金融稳定性的影响。我们发现，NBAs导致银行间存款集中在城市和银行层面，创造了系统重要性银行。虽然集中化促进了多样化，但当金融中心银行面临巨大冲击时，蔓延的可能性更大。(JEL E44、G01、G21、G28、L14、N21）
The National Banking Acts (NBAs) of 1863–1864 established rules governing the amounts and locations of interbank deposits, thereby reshaping the bank networks. Using unique data on bank balance sheets and detailed interbank deposits in 1862 and 1867 in Pennsylvania, we study how the NBAs changed the network structure and quantify the effect on financial stability in an interbank network model. We find that the NBAs induced a concentration of interbank deposits at both the city and bank levels, creating systemically important banks. Although the concentration facilitated diversification, contagion would have become more likely when financial center banks faced large shocks. (JEL E44, G01, G21, G28, L14, N21)
DOI：
10.1146/annurev-economics-083120-111540
发表时间：
2021-01-01
期刊：
ANNUAL REVIEW OF ECONOMICS, VOL 13, 2021
影响因子：
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作者：
Jackson, Matthew O.;Pernoud, Agathe
通讯作者：
Pernoud, Agathe