Search Results
Working Paper
The anatomy of a credit crisis: the boom and bust in farm land prices in the United States in the 1920s
Does credit availability exacerbate asset price inflation? What channels could it work through? What are the long run consequences? In this paper we address these questions by examining the farm land price boom (and bust) in the United States that preceded the Great Depression. We find that credit availability likely had a direct effect on inflating land prices. Credit availability may have also amplified the relationship between the perceived improvement in fundamentals and land prices. When the perceived fundamentals soured, however, areas with higher ex ante credit availability suffered a ...
Conference Paper
Rethinking capital regulation
Conference Paper
Bridge financing, delegated monitoring and corporate debt policy
Journal Article
The credit crisis and cycle-proof regulation
This article was originally presented as the Homer Jones Memorial Lecture, organized by the Federal Reserve Bank of St. Louis, St. Louis, Missouri, April 15, 2009.
Conference Paper
Pricing bank loans
Conference Paper
Has financial development made the world riskier?
Conference Paper
Firewalls in universal banks