Bank integration and state business cycles
成果类型：
Article
署名作者：
Morgan, DP; Rime, B; Strahan, PE
署名单位：
Federal Reserve System - USA; Federal Reserve Bank - New York; Boston College; National Bureau of Economic Research
刊物名称：
QUARTERLY JOURNAL OF ECONOMICS
ISSN/ISSBN：
0033-5533
DOI：
10.1162/0033553042476161
发表日期：
2004
页码：
1555-1584
关键词：
摘要：
We investigate how integration of bank ownership across states has affected economic volatility within states. In theory, bank integration could cause higher or lower volatility, depending on whether credit supply or credit demand shocks predominate. In fact, year-to-year fluctuations in a state's economic growth fall as its banks become more integrated (via holding companies) with banks in other states. As the bank linkages between any pair of states increase, fluctuations in those two states tend to converge. We conclude that interstate banking has made state business cycles smaller, but more alike.
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