Federal Dposit InsuranceCorporation• Center for Financial Researchh
Sanjiv R. Das
Darrell Duffie
Nikunj Kapadia
Risk-Based Capital Standards,
Deposit Insurance and Procyclicality
Risk-Based Capital Standards,
Deposit Insurance and Procyclicality
FDIC Center for Financial Research
Working Paper
No. 2009-06
Bank Failures and the Cost of Systemic Risk
April 2009
Empirical Comparisons and Implied Recovery Rates
kkk
An Empirical
An Empirical Analysis
State-
Efraim Benmel Efraim Benmelech May, 2005
June 20
May , 2005 Asset S2005-14
September 2005
Sanjiv R. Das
Darrell Duffie
Nikunj Kapadia
Risk-Based Capital Standards,
Deposit Insurance and Procyclicality
Risk-Based Capital Standards,
Deposit Insurance and Procyclicality
FDIC Center for Financial Research
Working Paper
No. 2009-06
Bank Failures and the Cost of Systemic Risk
April 2009
Empirical Comparisons and Implied Recovery Rates
kkk
An Empirical
An Empirical Analysis
State-
Efraim Benmel Efraim Benmelech May, 2005
June 20
May , 2005 Asset S2005-14
September 2005
Bank Failures and the Cost of Systemic Risk:
Evidence from 1900-1930*
Paul H. Kupiec
and
Carlos D. Ramireza
April 2009
Keywords: bank failures; systemic risk; financial accelerator, vector autoregressions;
Panic of 1907; non-bank commercial failures
JEL Classification Codes: N11, N21, E44, E32
* The views and opinions expressed here are those of the authors and do not necessarily reflect those of the
Federal Deposit Insurance Corporation. We are grateful to Mark Flannery, Ed Kane, Thomas Philippon,
Peter Praet, Lee Davidson, and Vivian Hwa for comments and suggestions. Ramirez acknowledges
financial support from the FDIC’s Center for Financial Research.
a Carlos Ramirez is Associate Professor, Department of Economics, George Mason University, and Visiting
Fellow, Center for Financial Research, FDIC. Email: cramire2@gmu.edu . Paul Kupiec is an economist at
the FDIC. Email: pkupiec@fdic.gov .
Evidence from 1900-1930*
Paul H. Kupiec
and
Carlos D. Ramireza
April 2009
Keywords: bank failures; systemic risk; financial accelerator, vector autoregressions;
Panic of 1907; non-bank commercial failures
JEL Classification Codes: N11, N21, E44, E32
* The views and opinions expressed here are those of the authors and do not necessarily reflect those of the
Federal Deposit Insurance Corporation. We are grateful to Mark Flannery, Ed Kane, Thomas Philippon,
Peter Praet, Lee Davidson, and Vivian Hwa for comments and suggestions. Ramirez acknowledges
financial support from the FDIC’s Center for Financial Research.
a Carlos Ramirez is Associate Professor, Department of Economics, George Mason University, and Visiting
Fellow, Center for Financial Research, FDIC. Email: cramire2@gmu.edu . Paul Kupiec is an economist at
the FDIC. Email: pkupiec@fdic.gov .