Work in progress

"... a brig has more appeal than a dozen box cars 
while motor trucks cannot compete with schooners 
in matter of interest.' 
Albion, The Rise of New York Port (1939, p. 122).
Finance and urbanization in early nineteenth-century New York

Brief: Using information on the location of commercial banks in early nineteenth-century New York we show that the opening of a bank had a significant positive effect on the towns’ population after the banks opened.

Opening access: banks and politics in New York from the Revolution to the Civil War

Brief: In 1838 New York transformed bank formation from legislative prerogative to administrative procedure, aka free banking. This paper traces the evolution toward free banking as part of a democratic transition from natural state to open access order.

Silverback bankers

Brief: This paper studies the causes and consequences of long bank director service (tenure). I find that outside board service is correlated with longer tenure. I also find that longer tenure is associated with greater profitability and more risk taking. 
Howard Bodenhorn,
Jan 24, 2018, 9:54 AM
Howard Bodenhorn,
May 23, 2017, 7:41 AM
Howard Bodenhorn,
Dec 2, 2017, 1:36 PM