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Articles 1 - 4 of 4
Full-Text Articles in Business
A House Of Cards: Free Banking In Antebellum Chicago, Miles J. Holtzman
A House Of Cards: Free Banking In Antebellum Chicago, Miles J. Holtzman
Business and Economics Summer Fellows
The Chicago free banking market of the antebellum period has more than once aroused the interest of historians and economists alike. Implemented in the state of Illinois in 1851, free banking was a common, though not universal occurrence in the United States at the time. The city of Chicago’s experience with free banking was anything but common, however. Within the first 18 months after the Illinois legislature enacted the Illinois Free Banking Law, 9 free banks had begun operation in Chicago and between them had an aggregate note issue of over $800,000. But by 1860, Chicago was home to but …
Caught In The Headlights: Revising The Road Kill Hypothesis Of Antebellum Illinois Bank Failures, Scott N. Clayman, Scott Deacle, Andrew J. Economopoulos
Caught In The Headlights: Revising The Road Kill Hypothesis Of Antebellum Illinois Bank Failures, Scott N. Clayman, Scott Deacle, Andrew J. Economopoulos
Business and Economics Faculty Publications
Illinois had a dismal free banking experience, with over 80% of its free banks failing by the start of the Civil War. Researchers agree that a dramatic change in bond prices was the catalyst, and some have shown that the riskiest banks, ex ante, were the most likely to fail. This study examines how Illinois free banks adjusted their portfolios in the face of increased political and financial risks prior to Abraham Lincoln’s election as president. Lincoln’s nomination in May 1860 and the Democratic Party schism in June 1860 raised the likelihood of secession and the potential for a significant …
Planting The Seeds Of Security: The Influence Of Agricultural Products On Food Security Levels In U.S. Counties, Vanessa R. Scalora
Planting The Seeds Of Security: The Influence Of Agricultural Products On Food Security Levels In U.S. Counties, Vanessa R. Scalora
Business and Economics Honors Papers
The United States produces, imports, and widely distributes incredible amounts of food every day. Despite the country’s abundance and availability of food, a prevalence of people with low food security levels exists. In 2015, 42.2 million U.S. citizens, including children, lived in food insecure households. The source of food insecurity is complexly rooted in the mechanics of America’s economic and food systems. Understanding that the fundamental causes of food insecurity are systemic, this study focuses on the impact of one of these potential elements: agriculture. Using economic analysis, this research explores the relationship between various agriculture products and food insecurity …
Is The Dodd-Frank Act Destroying What Is Left Of U.S. Thrifts?, Scott Deacle
Is The Dodd-Frank Act Destroying What Is Left Of U.S. Thrifts?, Scott Deacle
Business and Economics Faculty Publications
I examine data from 1992 to 2015 to assess the Dodd-Frank Act’s impact on the performance of U.S. depository institutions, thrifts in particular. Ceteris paribus, the average FDIC-regulated institution experienced a decline in profitability as measured by pre-tax return on assets (ROA) following the Act’s passage, but the decline was concentrated among commercial banks. Small thrifts increased pre-tax profitability, after controlling for other factors including weak economic growth. Depository institution loan quality improved after Dodd-Frank, less so for small thrifts but more so for large thrifts. Efficiency ratios, which regulatory costs affect, increased, more for thrifts than banks.