Capital Markets & Financial Crises
Contagion of Fear: Panics, Money, and the Great Depression (with Gary Richardson and Fabrizio Marodin) Explorations in Economic History (July 2024).
Bank Regulation, Network Topology, and Systemic Risk: Evidence from the Great Depression (with Sanjiv Das and Angela Vossmeyer). Journal of Money, Credit and Banking (August 2022). Available as CEPR Discussion Paper DP 13416; CESifo Working Paper 7425; and NBER Working Paper 25405.
Network Contagion and Interbank Amplification during the Great Depression (with Gary Richardson) Published in the Journal of Political Economy (April 2019 - lead article). Also available as NBER Working Paper 22074; CEPR Discussion Paper 11164; and Federal Reserve Bank of Richmond Working Paper 16-03.
The Evolution of Bank Supervisory Institutions: Evidence from American States (with Matt Jaremski) Published in the Journal of Economic History (September 2015) and NBER Working Paper 20603.
Capital Controls and Recovery from the Financial Crisis Capital Controls of the 1930s (with Kirsten Wandschneider) CEPR Discussion Paper 10019, NBER Working Paper 20220, and CAGE WP132.
Skin in the Game? Risk, Leverage, and Consequences of New Deal Financial Legislation? (with Gary Richardson) Published in Explorations in Economic History (July 2013) and NBER Working Paper 18895.
Shadowy Banks and Financial Contagion during the Great Depression: A Retrospective on Friedman and Schwartz (with Gary Richardson) Published in the American Economic Review, Papers & Proceedings (May 2013).
Does the Structure of Banking Matter for Economic Growth? Evidence from U.S. State Banking Markets (with David Wheelock) Published in Explorations in Economic History (April 2013), NBER Working Paper 15710, and Federal Reserve of St. Louis Bank Working Paper 2010-004A.
Arresting Banking Panics: Fed Liquidity Provision and the Forgotten Panic of 1929 (with Mark Carlson and Gary Richardson) Published in the Journal of Political Economy (October 2011) and NBER Working Paper 16460.
Blood and Treasure: Exiting the Great Depression and Lessons for Today (with Joe Mason) Published in the Oxford Review of Economic Policy (November 2010). Read about this article and related research on the web portal VoxEU.com
Branch Banking as a Device for Discipline: Competition and Bank Survivorship during the Great Depression (with Mark Carlson). Journal of Political Economy (April 2009, Lead Article) and NBER Working Paper 12938.
Institutions, Competition, and Capital Market Integration in Japan (with Mari Ohnuki). Published in the Journal of Economic History (March 2009) and NBER Working Paper 14090.
The Baring Crisis and the Great Latin American Meltdown of the 1890s (with Marc Weidenmier). NBER Working Paper 13403. Published in the Journal of Economic History (June 2008).
Capital Market Integration in Japan (with Mari Ohnuki). Published in Monetary and Economic Studies (November 2007).
Are Prudential Supervision and Regulation Pillars of Financial Stability? Evidence from the Great Depression Published in the Journal of Law and Economics (May 2007) and NBER Working Paper 12074.
Branch Banking, Bank Competition, and Financial Stability (with Mark Carlson), Published in the Journal of Money, Credit and Banking (August 2006); NBER Working Paper 11291; and Federal Reserve Board, Finance and Economics Discussion Series WP 2005-20.
Bank Supervision, Regulation, and Instability During the Great Depression Published Journal of Economic History (March 2005) and NBER Working Paper 10475
The Great Depression as Credit Boom Gone Wrong (with Barry Eichengreen) Published in Research in Economic History (2004) and as BIS Working Paper No. 137.