Bank balance sheet lending is commonly viewed as the predominant form of lending. We document and study two margins of … document the limits of the shadow bank substitution margin: shadow banks substitute for traditional—deposit-taking—banks in … quantitative consequences of several policies on lending volume and pricing, bank stability, and the distribution of consumer …

We study the recent episode of bank failures and provide simple facts to better understand who acquires failed banks … the allocation of failed banks to potential acquirers. First, a geographically proximate bank is significantly more likely … to acquire a failed bank: only 15% of acquirers do not have branches within the state. Sales are more local in regions …

the equilibrium pro-industry tilt in the arbitration pool that arises because of arbitrator competition. Selecting … system. Forty percent of this effect arises because the pool of arbitrators skews pro-industry due to competition. Even an …

Is bank capital structure designed to extract deposit subsidies? We address this question by studying capital structure … banks finance themselves primarily with short-term debt and originate long-term loans. However, shadow bank debt is provided … primarily by informed and concentrated lenders. (4) Shadow bank leverage increases substantially with size, and the …

Shadow bank market share in residential mortgage origination nearly doubled from 2007-2015, with particularly dramatic … regulation accounts for roughly 60% of shadow bank growth, while technology accounts for roughly 30% …

supervises a given bank for a fixed time period according to a predetermined rotation schedule. We use unique data to examine … loans, more delinquent loans, higher regulatory capital ratios, and lower ROA. There is a higher frequency of bank failures … and problem-bank rates in states with more lenient supervision relative to the federal benchmark. Some states are more …