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Unexpected Effects of Bank Bailouts:Depositors Need Not Apply and Need Not Run

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  • Allen N. Berger
  • Martien Lamers
  • Raluca A. Roman
  • Koen Schoors

Abstract

A key policy issue is whether bank bailouts weaken or strengthen market discipline. We address this by analyzing how bank bailouts influence deposit quantities and prices of recipients versus other banks. Using TARP bailouts, we find both deposit quantities and prices decline, consistent with substantially reduced demand for deposits by bailed-out banks that dominate market discipline supply effects. Main findings are robust to numerous checks and endogeneity tests. However, a deeper dive into depositor heterogeneity suggests nuance. Increases in uninsured deposits, transactions deposits, and deposits in banks that repaid bailout funds early suggest some limited support for weakened market discipline.

Suggested Citation

  • Allen N. Berger & Martien Lamers & Raluca A. Roman & Koen Schoors, 2020. "Unexpected Effects of Bank Bailouts:Depositors Need Not Apply and Need Not Run," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 20/1005, Ghent University, Faculty of Economics and Business Administration.
    • Handle: RePEc:rug:rugwps:20/1005
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    More about this item

    Keywords

    Bailouts; Banking; Depositor Behavior; Market Discipline; Bank Runs;
    All these keywords.

    JEL classification:

    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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