Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/60681
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dc.contributor.authorMorgan, Donalden_US
dc.contributor.authorRime, Bertranden_US
dc.contributor.authorStrahan, Philipen_US
dc.date.accessioned2012-08-17T14:28:45Z-
dc.date.available2012-08-17T14:28:45Z-
dc.date.issued2000en_US
dc.identifier.urihttp://hdl.handle.net/10419/60681-
dc.description.abstractWe 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 Triocole (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.en_US
dc.language.isoengen_US
dc.publisher|aFederal Reserve Bank of New York |cNew York, NYen_US
dc.relation.ispartofseries|aStaff Report, Federal Reserve Bank of New York |x129en_US
dc.subject.jelN1en_US
dc.subject.jelG2en_US
dc.subject.jelE3en_US
dc.subject.ddc330en_US
dc.subject.stwBankensystemen_US
dc.subject.stwStrukturwandelen_US
dc.subject.stwMarktintegrationen_US
dc.subject.stwFusionen_US
dc.subject.stwRegionaler Konjunkturzyklusen_US
dc.subject.stwTheorieen_US
dc.subject.stwUSAen_US
dc.titleBank integration and business volatilityen_US
dc.typeWorking Paperen_US
dc.identifier.ppn331604477en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US

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