| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP5875 |
| DP5875 Where Do Firms Incorporate? | |
| Colin Mayer; Marco Becht; Hannes Wagner | |
| 发表日期 | 2006-10-08 |
| 出版年 | 2006 |
| 语种 | 英语 |
| 摘要 | We estimate the effects of deregulation of U.S. banking restrictions on the amount of interstate personal income insurance during the period 1970--2001. Interstate income insurance occurs when personal income reacts less than one-to-one to state-specific shocks to output. We find that income insurance improved after banking deregulation, and that this effect is larger in states where small businesses are more important. We further show that the impact of deregulation is stronger for proprietors' income than other components of personal income. Our explanation of this result centers on the role of banks as a prime source of small business finance and on the close intertwining of the personal and business finances of small business owners. Our analysis casts light on the real effects of bank deregulation, on the risk sharing function of banks, and on the integration of bank markets. |
| 主题 | International Macroeconomics |
| 关键词 | Financial deregulation Integration of bank markets Interstate risk sharing Small business finance |
| URL | https://cepr.org/publications/dp5875 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/534709 |
| 推荐引用方式 GB/T 7714 | Colin Mayer,Marco Becht,Hannes Wagner. DP5875 Where Do Firms Incorporate?. 2006. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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