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Bank Integration and State Business Cycles Author info | Abstract | Publisher info | Download info | Related research | Statistics Morgan, Donald () (Federal Reserve Bank of New York)
Rime, Bertrand (Swiss National Bank)
Strahan, Philip E. (Swiss National Bank)
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registered author(s):
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 increases, 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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Paper provided by Swedish Institute for Financial Research in its series SIFR Research Report Series with number
30.
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Length: 35 pages
Date of creation: 15 Sep 2004Date of revision:
Handle: RePEc:hhs:sifrwp:0030Contact details of provider: Postal: Swedish Institute for Financial Research Saltmätargatan 19A, SE-113 59 Stockholm, Sweden Phone: +46-8-503 206 30 Fax: +46-8-503 206 40 Email: Web page: http://www.sifr.org/ More information through EDIRC
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Keywords: Bank integration Business volatility Geographic diversification Other versions of this item:
Find related papers by JEL classification: E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Mortgages
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References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.: Donald Morgan & Bertrand Rime & Philip Strahan, 2003.
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NBER Working Papers
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[Downloadable!] (restricted)
Other versions:
Morgan, Donald & Rime, Bertrand & Strahan, Philip E., 2004.
"Bank Integration and State Business Cycles ,"
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SIFR Research Report Series
30, Swedish Institute for Financial Research.
[Downloadable!]
Other versions:
Donald Morgan & Bertrand Rime & Philip Strahan, 2003.
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NBER Working Papers
9704, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted) Donald Morgan & Bertrand Rime & Philip E. Strahan, 2004.
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The Quarterly Journal of Economics ,
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