金融失败和存款人质量:来自加州建筑和贷款协会的证据

IF 2.5 1区历史学 Q2 ECONOMICS

Journal of Economic History Pub Date : 2023-03-16 DOI:10.1017/s0022050722000511

Todd Messer

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引用次数: 0

摘要

波动性，或者说存款人对流动性需求的敏感性，可能是金融危机的一个重要决定因素。在大萧条时期，我在加州的建筑和贷款协会中利用制度上的差异——这些差异吸引了各种各样的存款人。一种新的计划，代顿计划，涉及较少的限制性储蓄计划和较低的提取罚款。在大萧条时期，加州的代顿计划更有可能关闭。有关贷款利率和回报的档案证据支持这种浮动机制。

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Financial Failure and Depositor Quality: Evidence from Building and Loan Associations in California

Flightiness, or depositor sensitivity to liquidity needs, can be an important determinant of financial distress. I leverage institutional differences—that attract depositors with varying flightiness—across building and loan associations in California during the Great Depression. A new type of plan, the Dayton plan, involved less restrictive savings plans and lower withdrawal penalties. Dayton plans in California were more likely to close during the Great Depression. Archival evidence on lending rates and returns supports the flightiness mechanism.

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来源期刊

Journal of Economic History Multiple-

CiteScore

2.80

自引率

4.80%

发文量

期刊介绍： The Journal of Economic History is devoted to the multidisciplinary study of history and economics, and is of interest not only to economic historians but to social and demographic historians, as well as economists in general. The journal has broad coverage, in terms of both methodology and geographic scope. Topics covered include money and banking, trade, manufacturing, technology, transportation, industrial organisation, labour, agriculture, servitude, demography, education, economic growth, and the role of government and regulation. In addition, an extensive book review section keeps readers informed about the latest work in economic history and related fields.