作者：University of Warwick
摘要：This article reassesses the causes of Chicago state bank failures during the Great Depression by tracking the evolution of their balance sheets in the 1920s. I find that all banks suffered tremendous deposit withdrawals; however banks that failed earlier in the 1930s had invested more in mortgages in the 1920s. The main problem with mortgages was their lack of liquidity, not their quality. Banks heavily engaged in mortgages did not have enough liquid assets to face the withdrawals, and failed....
作者：University System of Maryland; University of Maryland College Park
作者：Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh
作者：Rutgers University System; Rutgers University New Brunswick
作者：Wheaton College; University of British Columbia
作者：Santa Clara University
作者：University of Regensburg
摘要：The discussion of the rationalization wave in German industry (1924-1929) still lacks proper industry-level estimates of the rate of technological progress. To close part of this gap, this article investigates total factor productivity (TFP) growth in hard coal mining over the extended period 1913-1938. Stochastic Frontier Analysis is applied to a sample of firms from the Ruhr coal district. TFP grew positively overall and specifically from 1924-1929. Surprisingly, however, TFP growth was even...
