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Financial restructuring and regional economic activity


  • Brian A. Cromwell


An empirical analysis that links employment changes resulting from the birth, death, expansion, and contraction of various-sized banks with the local economic performance of 217 SMSAs over the 1980-82 and 1984-86 periods. Results suggest that the deaths of midsized banks have a negative, but short-lived, impact on economic activity.

Suggested Citation

  • Brian A. Cromwell, 1990. "Financial restructuring and regional economic activity," Economic Review, Federal Reserve Bank of Cleveland, issue Q III, pages 13-25.
  • Handle: RePEc:fip:fedcer:y:1990:i:qiii:p:13-25:n:v.26no.3

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    References listed on IDEAS

    1. Lawrence R. Klein & Virginia Long, 1973. "Capacity Utilization: Concept, Measurement, and Recent Estimates," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 4(3), pages 743-764.
    2. Guilkey, David K & Salemi, Michael K, 1982. "Small Sample Properties of Three Tests for Granger-Causal Ordering in a Bivariate Stochastic System," The Review of Economics and Statistics, MIT Press, vol. 64(4), pages 668-680, November.
    3. Paul W. Bauer & Mary E. Deily, 1988. "Measuring the unseen: a primer on capacity utilization," Economic Commentary, Federal Reserve Bank of Cleveland, issue Jun.
    4. Thomas A. Gittings, 1989. "Capacity utilization and inflation," Economic Perspectives, Federal Reserve Bank of Chicago, issue May, pages 2-9.
    5. Robert H. Rasche & John A. Tatom, 1977. "The effects of the new energy regime on economic capacity, production, and prices," Review, Federal Reserve Bank of St. Louis, issue May, pages 2-12.
    6. Matthew D. Shapiro, 1989. "Assessing the Federal Reserve's Measures of Capacity and Utilization," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 20(1), pages 181-242.
    7. Daniel L. Thornton & Dallas S. Batten, 1984. "Lag length selection and Granger causality," Working Papers 1984-001, Federal Reserve Bank of St. Louis.
    8. Roger K. Conway & P.A.V.B. Swamy & John F. Yanagida, 1983. "The impossibility of causality testing," Special Studies Papers 178, Board of Governors of the Federal Reserve System (U.S.).
    9. John P. Judd & Bharat Trehan, 1989. "Unemployment-rate dynamics: aggregate-demand and -supply interactions," Economic Review, Federal Reserve Bank of San Francisco, issue Fall, pages 20-37.
    10. Tatom, John A., 1979. "The meaning and measurement of potential output : A comment on the Perloff and Wachter results," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 10(1), pages 165-178, January.
    11. Haynes, Stephen E & Stone, Joe A, 1985. "A Neglected Method of Separating Demand and Supply in Time Series Regression," Journal of Business & Economic Statistics, American Statistical Association, vol. 3(3), pages 238-243, June.
    12. Scadding, John L, 1973. "The Sampling Distribution of the Liviatan Estimator of the Geometric Distributed Lag Parameter," Econometrica, Econometric Society, vol. 41(3), pages 503-508, May.
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    Cited by:

    1. Steven Ongena, 1999. "Lending Relationships, Bank Default and Economic Activity," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 6(2), pages 257-280.

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