Replication data for: Bank Networks and Systemic Risk: Evidence from the National Banking Acts

Name: Replication data for: Bank Networks and Systemic Risk: Evidence from the National Banking Acts
Published: 2019-09-01
License: This work is licensed under an Other license created by the data depositor. Please refer to the LICENSE file, which should be located alongside the project data and documentation.
Keywords: Interbank Netowrk

Principal Investigator(s): View help for Principal Investigator(s) Haelim Anderson; Mark Paddrik; Jessie Jiaxu Wang

Version: View help for Version V1

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Project Citation:

Anderson, Haelim, Paddrik, Mark, and Wang, Jessie Jiaxu. Replication data for: Bank Networks and Systemic Risk: Evidence from the National Banking Acts. Nashville, TN: American Economic Association [publisher], 2019. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-12-07. https://doi.org/10.3886/E116189V1

Project Description

Summary: The National Banking Acts (NBAs) of 1863–1864 established rules governing the amounts and locations of interbank deposits, thereby reshaping the bank networks. Using unique data on bank balance sheets and detailed interbank deposits in 1862 and 1867 in Pennsylvania, we study how the NBAs changed the network structure and quantify the effect on financial stability in an interbank network model. We find that the NBAs induced a concentration of interbank deposits at both the city and bank levels, creating systemically important banks. Although the concentration facilitated diversification, contagion would have become more likely when financial center banks faced large shocks.

Scope of Project

Subject Terms: Interbank Netowrk

JEL Classification:
      E44 Financial Markets and the Macroeconomy
      G01 Financial Crises
      G21 Banks; Depository Institutions; Micro Finance Institutions; Mortgages
      G28 Financial Institutions and Services: Government Policy and Regulation
      L14 Transactional Relationships; Contracts and Reputation; Networks
      N21 Economic History: Financial Markets and Institutions: U.S.; Canada: Pre-1913

Geographic Coverage: Pennsylvania

Time Period(s): 11/1862 – 12/1867

Data Type(s): geographic information system (GIS) data; observational data

Collection Notes: Data descriptions are available with the dataset

Methodology

Data Source: Reports of the Several Banks and Savings Institutions of Pennsylvania and National Banks' Examination Reports

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Published Versions

V1 [2019-12-07]

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