MARC Record from Scriblio

LEADER: 02098cam 22003257a 4500
001 2005616559
003 DLC
005 20050310110637.0
007 cr |||||||||||
008 050222s2001 nyu sb f000 0 eng
010 $a 2005616559
040 $aDLC$cDLC
050 00 $aHB1
100 1 $aMorgan, Donald P.$q(Donald Patrick)
245 10 $aBank integration and business volatility$h[electronic resource] /$cDonald Morgan, Bertrand Rime, and Philip Strahan.
260 $a[New York, N.Y.] :$bFederal Reserve Bank of New York,$c[2001]
490 1 $aStaff reports ;$vno. 129
538 $aSystem requirements: Adobe Acrobat Reader.
538 $aMode of access: World Wide Web.
500 $aTitle from PDF file as viewed on 2/22/2005.
530 $aAlso available in print.
504 $aIncludes bibliographical references.
520 3 $a"We investigate how bank migration across state lines over the last quarter century has affected the size and covariance of business fluctuations within states. Starting with a two-state version of the unit banking model in Holmstrom and Tirole (1997), we conclude that the theoretical effect of integration on business cycle size is ambiguous, because some shocks are dampened by integration while others are amplified. Empirically, we find that integration diminishes employment growth fluctuations within states and decreases the deviations in employment growth across states. In other words, business cycles within states become smaller with integration but more alike. Our results for the United States bear on the financial convergence under way in Europe, where banks remain highly fragmented across nations"--Federal Reserve Bank of New York web site.
650 0 $aBank mergers$xEconometric models.
650 0 $aBusiness cycles$xEconometric models.
700 1 $aRime, Bertrand.
700 1 $aStrahan, Philip E.$q(Philip Elliot),$d1963-
710 2 $aFederal Reserve Bank of New York.
830 0 $aStaff reports (Federal Reserve Bank of New York : Online) ;$vno. 129.
856 40 $uhttp://www.ny.frb.org/research/staff_reports/sr129.html