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Contribution Details
| Type | Journal Article |
| Scope | Discipline-based scholarship |
| Title | The cleansing effect of banking crises |
| Organization Unit | |
| Authors |
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| Item Subtype | Original Work |
| Refereed | Yes |
| Status | Published in final form |
| Language |
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| Journal Title | Economic Inquiry |
| Publisher | Wiley-Blackwell Publishing, Inc. |
| Geographical Reach | international |
| ISSN | 0095-2583 |
| Volume | 60 |
| Number | 3 |
| Page Range | 1186 - 1213 |
| Date | 2022 |
| Abstract Text | We assess the cleansing effects of the 2008–2009 financial crisis. U.S. regions with higher levels of supervisory forbearance on distressed banks see less restructuring in the real sector: fewer establishments, firms, and jobs are lost when more distressed banks remain in business. In these regions, the banking sector has been less healthy for several years after the crisis. Regions with less forbearance experience higher productivity growth after the crisis with more firm entries, job creation, and employment, wages, patents, and output growth. Forbearance is greater for state-chartered banks and in regions with weaker banking competition and more independent banks. |
| Free access at | Related URL |
| Related URLs | |
| Digital Object Identifier | 10.1111/ecin.13069 |
| Other Identification Number | merlin-id:22121 |
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