Charles W Calomiris
Dados Biográficos
| ID | 1128636 |
|---|---|
| NOME | Charles W Calomiris |
| PRENOMES | Charles W |
| SOBRENOME | Calomiris |
| ASSINATURA | CALOMIRIS C W |
| AFILIAÇÕES | Columbia University |
| ORCID | 0000-0003-3228-0660 |
| VERIFICADO | Sim |
| TOTAL DE OBRAS | 22 |
| TOTAL DE CITAÇÕES | 132 |
| TOTAL COMO AUTOR | 22 |
| TOTAL COMO EDITOR | 0 |
| PRIMEIRO ANO DE PUBLICAÇÃO | 1985 |
| ANO MAIS RECENTE DE PUBLICAÇÃO | 2025 |
| ÍNDICE H | 7 |
Humanity and Entrepreneurship
Who owned Citibank? Familiarity bias and business network influences on stock purchases, 1925–1929
We study factors influencing individuals’ decisions to purchase Citibank stock during the 1920s. Familiarity was an important positive influence (measured outside New York by branch presence, and within New York, by network connections to existing owners). Within New York, wealth, knowledge, and one's influence within the New York City Business network also increased the probability of becoming a Citibank shareholder. The role of some network inf…
Why Join the Fed
We study the decisions of state-chartered banks to join the Fed in its first decade. Ours is the first study to combine state regulatory environment characteristics and individual bank characteristics to explain Fed membership choice. Regulatory environments that reduced the benefit of discount window access or increased the regulatory cost of joining the Fed led to fewer banks joining. Individual bank characteristics that affected the magnitude …
Mortgage market credit conditions and U.S. Presidential elections
Bank Failures, The Great Depression, and Other “Contagious” Events
Deposit withdrawal pressures on banks, which sometimes take the form of sudden runs, have figured prominently in the discussion of public policy toward banks and the construction of safety nets such as deposit insurance and the lender of last resort. This chapter examines historical evidence from the Great Depression, and other episodes, on the factors that prompted withdrawals, the discussion of contagious runs, and the public policy implication…
Fragile by design
Preface ix SECTION ONE No Banks without States, and No States without Banks 1 If Stable and Effi cient Banks Are Such a Good Idea, Why Are They So Rare? 3 2 The Game of Bank Bargains 27 3 Tools of Conquest and Survival: Why States Need Banks 60 4 Privileges with Burdens: War, Empire, and the Monopoly Structure of English Banking 84 5 Banks and Democracy: Britain in the Nineteenth and Twentieth Centuries 105 SECTION TWO The Cost of Banker-Populist…
An Assessment of Tarp Assistance to Financial Institutions
Six years after the passage of the 2008 Troubled Asset Relief Program, commonly known as TARP, it remains hard to measure the total social costs and benefits of the assistance to banks provided under TARP programs. TARP was not a single approach to assisting weak banks but rather a variety of changing solutions to a set of evolving problems. TARP's passage was associated with significant improvements in financial markets and the health of financi…
Fragile by Design
The effects of reconstruction finance corporation assistance on Michigan's banks' survival in the 1930s
"Comment on "Implementing a Macroprudential Framework
This paper is a comment on Implementing a Macroprudential Framework: Blending Boldness and Realism by Claudio E. V. Borio which can be found at: http://ssrn.com/abstract=2208643
Preserving Slave Families for Profit
We investigate determinants of slave family discounts in the New Orleans slave market. We find large price discounts for families unrelated to scale effects, childcare costs, legal restrictions, or transport costs. We posit that because family members voluntarily cared for each other, sellers sometimes found it advantageous to keep families together (when families included needy or dependent members). Evidence from ship manifests carrying slaves …
Resolving the puzzle of the underissuance of national bank notes
The role of Roscas
The stylised representation of ROSCAs in recent theoretical work as a device driven by impatience for lumpy consumer durables misses the important insurance role of this pervasive informal financial institution in the developing world. That insurance role explains why ROSCAs with concurrent bidding are the dominant means of determining the sequence and pricing of allocations. In ROSCAs so structured, the recipient and the implied interest rate fo…
Consistent Output Series for the Antebellum and Postbellum Periods
Existing output series that cover both the antebellum and postbellum periods are inconsistent and unsuitable for comparing cyclical patterns across the nineteenth century. More consistent data show that output in cyclically sensitive sectors was no less, and probably more, volatile before the War Between the States than after it
Financial Factors in the Great Depression
Macroeconomists have long argued that financial markets were important sources and propagators of decline during the Great Depression. Turning points during the Depression often coincided with or were preceded by dramatic events in financial markets: stock market collapse, waves of bankruptcy and bank failure, and contractions in the money stock. But the mechanism through which financial factors contributed to the Depression has been a source of …
Financial Failure and Confederate Defeat
Journal Article Financial Failure and Confederate Defeat. By Douglas B. Ball. (Urbana: University of Illinois Press, 1991. xiv + 329 pp. $29.95.) Get access Charles W. Calomiris Charles W. Calomiris University of Illinois Urbana Search for other works by this author on: Oxford Academic Google Scholar Journal of American History, Volume 79, Issue 3, December 1992, Pages 1179–1180, https://doi.org/10.2307/2080870 Published: 01 December 1992
The Panic of 1857
We explain the origins of the Panic of 1857, examine its spread, and compare state banking systems's responses. We describe the decline in western land and railroad investments and the consequent stress on securities brokers and banks in eastern cities, and trace the transmission of the shock to other regions. Bank performance depended not only on regional conditions and links to eastern banks, but on the ability to coordinate behavior. Southern …
Is Deposit Insurance Necessary? A Historical Perspective
The motivation and structure of various banking insurance experiments in U.S. history are analyzed, along with their political alternative, branch banks. In both the antebellum period and in the 1920s, insurance systems that relied on self-regulation, made credible by mutual liability, were successful, while compulsory state systems were not. Branch banking increased stability and resiliency to shocks
Firm Heterogeneity, Internal Finance, and `Credit Rationing
This paper assesses the role of internal net worth (holding constant investment opportunities) in the allocation of credit in the presence of asymmetric information in the capital market. The authors consider an economy in which both "symmetric-information" and "information-intensive" entrepreneurs seek funds from the capital market, and they develop a simple general equilibrium model of credit allocation. Their emphasis is on shocks to borrower …
The Depreciation of the Continental
There are two ways to interpret Ron Michener's comment on my article. One is to view it as an analysis of the difficulties of estimating money demand and of identifying the relevant components of money supply during the colonial and Revolutionary periods, both of which would be necessary to draw firm conclusions about the time path of aggregate real money balances from 1774 through 1781. Another way to read the comment is as a disproof of the imp…
Institutional Failure, Monetary Scarcity, and the Depreciation of the Continental
The efforts of some American colonials, who complained of monetary scarcity and advocated increased government involvement in supplying paper money, were valid attempts to improve economic welfare and facilitate transactions. The potential for improvement depended crucially on the fiscal and monetary policies of colonial governments. This approach to monetary scarcity is useful for explaining variation in the real supply of money across colonies …
A Retrospective on the Classical Gold Standard
An abstract is not available for this content so a preview has been provided. Please use the Get access link above for information on how to access this content
Fragile by design
Preface ix SECTION ONE No Banks without States, and No States without Banks 1 If Stable and Effi cient Banks Are Such a Good Idea, Why Are They So Rare? 3 2 The Game of Bank Bargains 27 3 Tools of Conquest and Survival: Why States Need Banks 60 4 Privileges with Burdens: War, Empire, and the Monopoly Structure of English Banking 84 5 Banks and Democracy: Britain in the Nineteenth and Twentieth Centuries 105 SECTION TWO The Cost of Banker-Populist…
Is Deposit Insurance Necessary? A Historical Perspective
The motivation and structure of various banking insurance experiments in U.S. history are analyzed, along with their political alternative, branch banks. In both the antebellum period and in the 1920s, insurance systems that relied on self-regulation, made credible by mutual liability, were successful, while compulsory state systems were not. Branch banking increased stability and resiliency to shocks
The role of Roscas
The stylised representation of ROSCAs in recent theoretical work as a device driven by impatience for lumpy consumer durables misses the important insurance role of this pervasive informal financial institution in the developing world. That insurance role explains why ROSCAs with concurrent bidding are the dominant means of determining the sequence and pricing of allocations. In ROSCAs so structured, the recipient and the implied interest rate fo…
The Panic of 1857
We explain the origins of the Panic of 1857, examine its spread, and compare state banking systems's responses. We describe the decline in western land and railroad investments and the consequent stress on securities brokers and banks in eastern cities, and trace the transmission of the shock to other regions. Bank performance depended not only on regional conditions and links to eastern banks, but on the ability to coordinate behavior. Southern …
Financial Factors in the Great Depression
Macroeconomists have long argued that financial markets were important sources and propagators of decline during the Great Depression. Turning points during the Depression often coincided with or were preceded by dramatic events in financial markets: stock market collapse, waves of bankruptcy and bank failure, and contractions in the money stock. But the mechanism through which financial factors contributed to the Depression has been a source of …
Preserving Slave Families for Profit
We investigate determinants of slave family discounts in the New Orleans slave market. We find large price discounts for families unrelated to scale effects, childcare costs, legal restrictions, or transport costs. We posit that because family members voluntarily cared for each other, sellers sometimes found it advantageous to keep families together (when families included needy or dependent members). Evidence from ship manifests carrying slaves …
Fragile by Design
Institutional Failure, Monetary Scarcity, and the Depreciation of the Continental
The efforts of some American colonials, who complained of monetary scarcity and advocated increased government involvement in supplying paper money, were valid attempts to improve economic welfare and facilitate transactions. The potential for improvement depended crucially on the fiscal and monetary policies of colonial governments. This approach to monetary scarcity is useful for explaining variation in the real supply of money across colonies …
The effects of reconstruction finance corporation assistance on Michigan's banks' survival in the 1930s
Resolving the puzzle of the underissuance of national bank notes
Consistent Output Series for the Antebellum and Postbellum Periods
Existing output series that cover both the antebellum and postbellum periods are inconsistent and unsuitable for comparing cyclical patterns across the nineteenth century. More consistent data show that output in cyclically sensitive sectors was no less, and probably more, volatile before the War Between the States than after it
Firm Heterogeneity, Internal Finance, and `Credit Rationing
This paper assesses the role of internal net worth (holding constant investment opportunities) in the allocation of credit in the presence of asymmetric information in the capital market. The authors consider an economy in which both "symmetric-information" and "information-intensive" entrepreneurs seek funds from the capital market, and they develop a simple general equilibrium model of credit allocation. Their emphasis is on shocks to borrower …
The Depreciation of the Continental
There are two ways to interpret Ron Michener's comment on my article. One is to view it as an analysis of the difficulties of estimating money demand and of identifying the relevant components of money supply during the colonial and Revolutionary periods, both of which would be necessary to draw firm conclusions about the time path of aggregate real money balances from 1774 through 1781. Another way to read the comment is as a disproof of the imp…
Why Join the Fed
We study the decisions of state-chartered banks to join the Fed in its first decade. Ours is the first study to combine state regulatory environment characteristics and individual bank characteristics to explain Fed membership choice. Regulatory environments that reduced the benefit of discount window access or increased the regulatory cost of joining the Fed led to fewer banks joining. Individual bank characteristics that affected the magnitude …
An Assessment of Tarp Assistance to Financial Institutions
Six years after the passage of the 2008 Troubled Asset Relief Program, commonly known as TARP, it remains hard to measure the total social costs and benefits of the assistance to banks provided under TARP programs. TARP was not a single approach to assisting weak banks but rather a variety of changing solutions to a set of evolving problems. TARP's passage was associated with significant improvements in financial markets and the health of financi…
A Retrospective on the Classical Gold Standard
An abstract is not available for this content so a preview has been provided. Please use the Get access link above for information on how to access this content
The Depreciation of the Continental
There are two ways to interpret Ron Michener's comment on my article. One is to view it as an analysis of the difficulties of estimating money demand and of identifying the relevant components of money supply during the colonial and Revolutionary periods, both of which would be necessary to draw firm conclusions about the time path of aggregate real money balances from 1774 through 1781. Another way to read the comment is as a disproof of the imp…
Institutional Failure, Monetary Scarcity, and the Depreciation of the Continental
The efforts of some American colonials, who complained of monetary scarcity and advocated increased government involvement in supplying paper money, were valid attempts to improve economic welfare and facilitate transactions. The potential for improvement depended crucially on the fiscal and monetary policies of colonial governments. This approach to monetary scarcity is useful for explaining variation in the real supply of money across colonies …
Is Deposit Insurance Necessary? A Historical Perspective
The motivation and structure of various banking insurance experiments in U.S. history are analyzed, along with their political alternative, branch banks. In both the antebellum period and in the 1920s, insurance systems that relied on self-regulation, made credible by mutual liability, were successful, while compulsory state systems were not. Branch banking increased stability and resiliency to shocks
Firm Heterogeneity, Internal Finance, and `Credit Rationing
This paper assesses the role of internal net worth (holding constant investment opportunities) in the allocation of credit in the presence of asymmetric information in the capital market. The authors consider an economy in which both "symmetric-information" and "information-intensive" entrepreneurs seek funds from the capital market, and they develop a simple general equilibrium model of credit allocation. Their emphasis is on shocks to borrower …
The Panic of 1857
We explain the origins of the Panic of 1857, examine its spread, and compare state banking systems's responses. We describe the decline in western land and railroad investments and the consequent stress on securities brokers and banks in eastern cities, and trace the transmission of the shock to other regions. Bank performance depended not only on regional conditions and links to eastern banks, but on the ability to coordinate behavior. Southern …
Financial Failure and Confederate Defeat
Journal Article Financial Failure and Confederate Defeat. By Douglas B. Ball. (Urbana: University of Illinois Press, 1991. xiv + 329 pp. $29.95.) Get access Charles W. Calomiris Charles W. Calomiris University of Illinois Urbana Search for other works by this author on: Oxford Academic Google Scholar Journal of American History, Volume 79, Issue 3, December 1992, Pages 1179–1180, https://doi.org/10.2307/2080870 Published: 01 December 1992
Financial Factors in the Great Depression
Macroeconomists have long argued that financial markets were important sources and propagators of decline during the Great Depression. Turning points during the Depression often coincided with or were preceded by dramatic events in financial markets: stock market collapse, waves of bankruptcy and bank failure, and contractions in the money stock. But the mechanism through which financial factors contributed to the Depression has been a source of …
Consistent Output Series for the Antebellum and Postbellum Periods
Existing output series that cover both the antebellum and postbellum periods are inconsistent and unsuitable for comparing cyclical patterns across the nineteenth century. More consistent data show that output in cyclically sensitive sectors was no less, and probably more, volatile before the War Between the States than after it
The role of Roscas
The stylised representation of ROSCAs in recent theoretical work as a device driven by impatience for lumpy consumer durables misses the important insurance role of this pervasive informal financial institution in the developing world. That insurance role explains why ROSCAs with concurrent bidding are the dominant means of determining the sequence and pricing of allocations. In ROSCAs so structured, the recipient and the implied interest rate fo…
Resolving the puzzle of the underissuance of national bank notes
Preserving Slave Families for Profit
We investigate determinants of slave family discounts in the New Orleans slave market. We find large price discounts for families unrelated to scale effects, childcare costs, legal restrictions, or transport costs. We posit that because family members voluntarily cared for each other, sellers sometimes found it advantageous to keep families together (when families included needy or dependent members). Evidence from ship manifests carrying slaves …
"Comment on "Implementing a Macroprudential Framework
This paper is a comment on Implementing a Macroprudential Framework: Blending Boldness and Realism by Claudio E. V. Borio which can be found at: http://ssrn.com/abstract=2208643
The effects of reconstruction finance corporation assistance on Michigan's banks' survival in the 1930s
Fragile by Design
An Assessment of Tarp Assistance to Financial Institutions
Six years after the passage of the 2008 Troubled Asset Relief Program, commonly known as TARP, it remains hard to measure the total social costs and benefits of the assistance to banks provided under TARP programs. TARP was not a single approach to assisting weak banks but rather a variety of changing solutions to a set of evolving problems. TARP's passage was associated with significant improvements in financial markets and the health of financi…
Fragile by design
Preface ix SECTION ONE No Banks without States, and No States without Banks 1 If Stable and Effi cient Banks Are Such a Good Idea, Why Are They So Rare? 3 2 The Game of Bank Bargains 27 3 Tools of Conquest and Survival: Why States Need Banks 60 4 Privileges with Burdens: War, Empire, and the Monopoly Structure of English Banking 84 5 Banks and Democracy: Britain in the Nineteenth and Twentieth Centuries 105 SECTION TWO The Cost of Banker-Populist…
Bank Failures, The Great Depression, and Other “Contagious” Events
Deposit withdrawal pressures on banks, which sometimes take the form of sudden runs, have figured prominently in the discussion of public policy toward banks and the construction of safety nets such as deposit insurance and the lender of last resort. This chapter examines historical evidence from the Great Depression, and other episodes, on the factors that prompted withdrawals, the discussion of contagious runs, and the public policy implication…
Mortgage market credit conditions and U.S. Presidential elections
Why Join the Fed
We study the decisions of state-chartered banks to join the Fed in its first decade. Ours is the first study to combine state regulatory environment characteristics and individual bank characteristics to explain Fed membership choice. Regulatory environments that reduced the benefit of discount window access or increased the regulatory cost of joining the Fed led to fewer banks joining. Individual bank characteristics that affected the magnitude …
Who owned Citibank? Familiarity bias and business network influences on stock purchases, 1925–1929
We study factors influencing individuals’ decisions to purchase Citibank stock during the 1920s. Familiarity was an important positive influence (measured outside New York by branch presence, and within New York, by network connections to existing owners). Within New York, wealth, knowledge, and one's influence within the New York City Business network also increased the probability of becoming a Citibank shareholder. The role of some network inf…
Humanity and Entrepreneurship
Economics (17 obras) · Business (12 obras) · Banking stability, regulation, efficiency (10 obras) · Finance (9 obras) · Financial system (8 obras) · Monetary economics (8 obras) · Political science (6 obras) · Finance (5 obras) · Law (5 obras) · Economic Theory and Policy (4 obras)