proprietors' income than other components of personal income. Our explanation of this result centers on the role of banks as a … owners. Our analysis casts light on the real effects of bank deregulation, on the risk sharing function of banks, and on the …

Using a novel way to identify relationship and transaction banks, we study how banks’ lending techniques affect funding … to SMEs over the business cycle. For 21 countries we link the lending techniques that banks use in the direct vicinity of …

In spite of mounting losses banks continued to pay dividends during the crisis. We present a model that addresses this … behavior. By paying out dividends, a bank transfers value to its shareholders away from creditors, among whom are other banks …. This way, one bank's dividend payout policy affects the equity value and risk of default of other banks. When such negative …

We study the effects of a bank’s engagement in trading. Traditional banking is relationship-based: not scalable, long … leads trading in banks to become increasingly risky, so that problems in managing and regulating trading in banks will …

affected key dealer banks with large exposures to private sector securities, which then had knock-on effects on security … markets, and led these dealer banks to resort to the Fed's emergency lending programs. We also find that haircuts in MMF … of depositors and more like a credit crunch among dealer banks. …