G2TT
来源类型Discussion paper
规范类型论文
来源IDDP5875
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
URLhttps://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.
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