This paper compares the stability of the US Dual Banking system’s two bank groups, national and state banks, in light of the current financial crisis. The goal of the paper is to answer three distinct questions: first, is there a difference in the (balance sheet-) fragility between the two groups and, second, to what extent has the balance sheet fragility of both groups changed after the beginn...

We develop an agent-based model in which heterogenous and boundedly rational agents interact by trading a risky asset at an endogenously set price. Agents are endowed with balance sheets comprising the risky asset as well as cash on the asset side and equity capital as well as debt on the liabilities side. The introduction of balance sheets and debt into an agent-based setup is relatively new t...

Using households' balance-sheet composition in the Panel Survey of Income Dynamics, we identify six household types. Since 1999, there has been a decline share patient households and an increase impatient with negative wealth. six-agent New Keynesian model search matching frictions, explore how changes shares affect transmission government spending shocks. We show that relative left tail wealth...

The current state of balance of the terrestrial ice sheets and glaciers is poorly known. What little data are available suggest that, worldwide, mountain glaciers have receded since about the mid-nineteenth century, with occasional interruptions of the retreat. The interior part of the Greenland ice sheet appears to be thickening or in near equilibrium, but this ice sheet may be thinning in the...

Abstract Satellite data have revealed that the Greenland and Antarctic Ice Sheets are changing rapidly due to warming air ocean temperatures. Crucially, Earth Observations can now be used measure ice sheet mass balance at continental scale, which help reduce uncertainties in sheets’ past, present, future contributions global mean sea level. The launch of satellite missions dedicated polar regio...

We examine the effect of house price appreciation on bank loan portfolios during the 1996—2006 period. While most previous research in this area has concentrated on loan demand effects, we evaluate how house prices affect a bank’s credit supply. Controlling for possible simultaneity between house prices and bank loan portfolio growth, we find that banks affected by greater house price appreciat...

The literature on costs of financial instability tends to focus on fiscal costs and the impact on GDP of banking crises. In this paper we analyse the effect of a banking or currency crisis on consumption. We show that consumption plays an important role in the macroeconomic adjustment following a financial crisis. Furthermore, the effect of a crisis is aggravated by high leverage, notably as sh...

Balance Sheets—Tools for Translating Evidence into Practice Integrated care delivery systems have two inherent advantages over other health care organizations. First, we integrate the financing of care with care delivery. Second, our integrated care delivery systems position us to be able to collaboratively recommend and carry out changes in practice more effectively than other delivery systems...