scholarly journals Regulation and Bank Failures: New Evidence from the Agricultural Collapse of the 1920s

1992 ◽  
Vol 52 (4) ◽  
pp. 806-825 ◽  
Author(s):  
David C. Wheelock
Keyword(s):  
United States ◽  
Deposit Insurance ◽  
The United States ◽  
Bank Failure ◽  
Government Policies ◽  
Bank Failures ◽  
Economic Shocks ◽  
Deposit Insurance System ◽  
Branch Banking ◽  
New Evidence

This article examines the contribution of government policies to the high number of bank failures in the United States during the 1920s. In the state of Kansas, which had a system of voluntary deposit insurance and where branch banking was strictly prohibited, bank failure rates were highest in counties suffering the greatest agricultural distress and where deposit insurance system membership was highest. The evidence for Kansas illustrates how prohibitions on branch banking caused unit banks to be especially vulnerable to local economic shocks and suggests that deposit insurance caused more bank failures than would have occurred otherwise.

State-Sponsored Insurance of Bank Deposits in the United States, 1907–1929

1981 ◽  
Vol 41 (3) ◽  
pp. 537-557 ◽  
Author(s):  
Eugene Nelson White
Keyword(s):  
United States ◽  
Deposit Insurance ◽  
Banking Industry ◽  
Strong Support ◽  
The United States ◽  
Small Unit ◽  
Bank Deposits ◽  
Key Factor ◽  
Branch Banking ◽  
Federal Deposit Insurance

Before the creation of the Federal Deposit Insurance Corporation in 1933, several states established deposit guarantee funds. The key factor influencing the adoption of deposit insurance by a state was the structure of its banking industry. In states where small unit banks were dominant, there was strong support for guarantee funds to protect deposits; in other states there was more interest in branch banking. The failure to design the guarantee funds in accordance with sound principles of insurance brought about their demise and led to increased branch banking.

Lending to the Borrower from Hell

2017 ◽  
Author(s):  
Mauricio Drelichman ◽  
Hans-Joachim Voth
Keyword(s):  
United States ◽  
Sixteenth Century ◽  
Sovereign Debt ◽  
Risk Sharing ◽  
The United States ◽  
Philip Ii ◽  
Loan Contracts ◽  
The Right ◽  
Intelligent Model ◽  
New Evidence

Why do lenders time and again loan money to sovereign borrowers who promptly go bankrupt? When can this type of lending work? As the United States and many European nations struggle with mountains of debt, historical precedents can offer valuable insights. This book looks at one famous case—the debts and defaults of Philip II of Spain. Ruling over one of the largest and most powerful empires in history, King Philip defaulted four times. Yet he never lost access to capital markets and could borrow again within a year or two of each default. Exploring the shrewd reasoning of the lenders who continued to offer money, the book analyzes the lessons from this historical example. Using detailed new evidence collected from sixteenth-century archives, the book examines the incentives and returns of lenders. It provides powerful evidence that in the right situations, lenders not only survive despite defaults—they thrive. It also demonstrates that debt markets cope well, despite massive fluctuations in expenditure and revenue, when lending functions like insurance. The book unearths unique sixteenth-century loan contracts that offered highly effective risk sharing between the king and his lenders, with payment obligations reduced in bad times. A fascinating story of finance and empire, this book offers an intelligent model for keeping economies safe in times of sovereign debt crises and defaults.

Do National Service Programs Improve Subjective Well-Being in Communities?

2018 ◽  
Vol 49 (3) ◽  
pp. 275-291 ◽  
Author(s):  
Kristopher Velasco ◽  
Pamela Paxton ◽  
Robert W. Ressler ◽  
Inbar Weiss ◽  
Lilla Pivnick
Keyword(s):  
United States ◽  
Well Being ◽  
The United States ◽  
Change Score ◽  
National Service ◽  
Subjective Well Being ◽  
Community Effects ◽  
Service Programs ◽  
Open Question ◽  
New Evidence

Since the creation of Volunteers in Service to America (VISTA) in 1964 and AmeriCorps in 1993, a stated goal of national service programs has been to strengthen the overall health of communities across the United States. But whether national service programs have such community effects remains an open question. Using longitudinal cross-lagged panel and change-score models from 2005 to 2013, this study explores whether communities with national service programs exhibit greater subjective well-being. We use novel measures of subjective well-being derived from tweeted expressions of emotions, engagement, and relationships in 1,347 U.S. counties. Results show that national service programs improve subjective well-being primarily by mitigating threats to well-being and communities that exhibit more engagement are better able to attract national service programs. Although limited in size, these persistent effects are robust to multiple threats to inference and provide important new evidence on how national service improves communities in the United States.

scholarly journals Modeling the Global Dynamic Contagion of COVID-19

2022 ◽  
Vol 9 ◽  
Author(s):  
Lijin Xiang ◽  
Shiqun Ma ◽  
Lu Yu ◽  
Wenhao Wang ◽  
Zhichao Yin
Keyword(s):  
United States ◽  
South Korea ◽  
Feedback Loop ◽  
The United States ◽  
Government Policies ◽  
Global Epidemic ◽  
Public Health Emergencies ◽  
Global Dynamic ◽  
The United Kingdom ◽  
Risk Assessment Mechanism

The COVID-19 infections have profoundly and negatively impacted the whole world. Hence, we have modeled the dynamic spread of global COVID-19 infections with the connectedness approach based on the TVP-VAR model, using the data of confirmed COVID-19 cases during the period of March 23rd, 2020 to September 10th, 2021 in 18 countries. The results imply that, (i) the United States, the United Kingdom and Indonesia are global epidemic centers, among which the United States has the highest degree of the contagion of the COVID-19 infections, which is stable. South Korea, France and Italy are the main receiver of the contagion of the COVID-19 infections, and South Korea has been the most severely affected by the overseas epidemic; (ii) there is a negative correlation between the timeliness, effectiveness and mandatory nature of government policies and the risk of the associated countries COVID-19 epidemic affecting, as well as the magnitude of the net contagion of domestic COVID-19; (iii) the severity of domestic COVID-19 epidemics in the United States and Canada, Canada and Mexico, Indonesia and Canada is almost equivalent, especially for the United States, Canada and Mexico, whose domestic epidemics are with the same tendency; (iv) the COVID-19 epidemic has spread though not only the central divergence manner and chain mode of transmission, but also the way of feedback loop. Thus, more efforts should be made by the governments to enhance the pertinence and compulsion of their epidemic prevention policies and establish a systematic and efficient risk assessment mechanism for public health emergencies.

Prosecutors Post-Conviction

2021 ◽  
pp. 170-182
Author(s):  
Brandon L. Garrett
Keyword(s):  
United States ◽  
Criminal Procedure ◽  
The United States ◽  
Traditional Model ◽  
Police Misconduct ◽  
Forensic Evidence ◽  
New Evidence

In recent years, the involvement of prosecutors in post-conviction proceedings has begun to change from a strictly adversarial to a more investigative and remedial posture. Particularly in the United States, prosecutors’ offices have taken the affirmative responsibility to conduct post-conviction investigations of closed cases. A growing number of exonerations occur because prosecutors themselves agree to review new evidence of innocence or locate it themselves. Prosecutors have created specialized conviction integrity units tasked with reviewing such cold cases. They have created units to conduct other types of audits and reviews to investigate systemic issues, including regarding forensic evidence and police misconduct. They have even, in some offices, conducted investigations of their own conduct. Although most offices may follow a traditional model in which work largely consists in defending final convictions, there has been a notable trend towards experimentation with reconception of the post-conviction role of prosecutors. This chapter describes each of those changes and describes their implications for post-conviction criminal procedure.

The Impeccable System

Money ◽  
2017 ◽  
Author(s):  
John Kenneth Galbraith ◽  
James K. Galbraith
Keyword(s):  
United States ◽  
Federal Reserve ◽  
The United States ◽  
Central Banks ◽  
Bank Failures ◽  
Federal Reserve System ◽  
Woodrow Wilson ◽  
System P ◽  
The Impact ◽  
Reserve System

This chapter examines the impact of the Federal Reserve System on money and banking in the United States. The Federal Reserve System was created in 1913 by virtue of the Federal Reserve Act passed by Congress and signed by President Woodrow Wilson. The Federal Reserve Act (1913) provided not for one but for as many as twelve central banks. It was conceived as an answer to the great panics, but in this respect the System was notably defective. Nor was the System better as an antidote for an alarming epidemic of bank failures. Furthermore, the most severe inflation ever in peacetime occurred under its watch. The chapter considers the successes and failures of the Federal Reserve System and looks at another body established to study the management of money in the United States: the National Monetary Commission.

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