May 20, 2016

CSSRR Economics–May 20, 2016

Filed under: E. Working Papers,Economics — admin @ 2:35 pm

Center for Economic Studies [US Census Bureau] Working Paper: CES has announced the release of the following working paper.


NEW: 16-26 “The Impact of Bank Credit on Labor Reallocation and Aggregate Industry Productivity,” by John (Jianqiu) Bai, Daniel Carvalho, & Gordon Phillips.

16-25 “How Credit Constraints Impact Job Finding Rates, Sorting & Aggregate Output,” by Kyle Herkenhoff, Gordon Phillips, & Ethan Cohen-Cole.


Center for Economic Studies/Ifo Institute for Economic Research (CESifo) [Munich, Bavaria, Germany]: CESifo has recently released several new working papers:


The new papers are numbered 5895-5908.


John F. Kennedy School of Government [Harvard University] Working Paper: “Bias in Official Fiscal Forecasts: Can Private Forecasts Help?” by Jeffrey A. Frankel and Jesse Schreger (RWP16-021, May 2016, .pdf format, 21p.). Note: Links to the abstract and the full text of the paper available at:



Levy Economics Institute (Bard College) Working Paper: “The Greek Public Debt Problem,” by Michalis Nikiforos, Dimitri B. Papadimitriou, and Gennaro Zezza (Working Paper No. 867, May 2016, .pdf format, 30p.). Note: Links to the abstract and the full text of the paper available at:



US Federal Deposit Insurance Corporation Working Paper: “The Entry, Performance, and Risk Profile of De Novo Banks,” by Yan Lee and Chiwon Yom (FDIC Center for Financial Research Working Paper No. 2016-03, April 2016, .pdf format, 32p.).


From 2000 to 2008, 1,042 new community banks were chartered. Despite the largest financial crisis in decades, the vast majority of these new banks either survived or were financially healthy when merged with another bank. In this paper we investigate whether the patterns of community bank de novo formation and failure for this cohort that formed just prior to the recent financial crisis were the same as for new institutions from earlier periods. Similar to previous periods, we find that many of the new banks chartered were in markets that experienced bank mergers or acquisitions, and were large and growing. Consistent with a “life-cycle theory” of de novos, compared with small established banks, recent de novos were financially fragile and failed at higher rates during the crisis. Discrete-time hazards models confirm that failed de novos from the recent period invested heavily in construction and development lending prior to the crisis, similar to the concentrated loan portfolios exhibited by earlier cohorts.



Working Papers: New Economic Papers (NEP)-ALL. The latest list of New Economic Papers is dated May 8, 2016.


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