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The Legacy of Deposit Insurance: The Growth, Spread, and Cost of Insuring Financial Intermediaries / Eugene N. White.
- Format:
- Book
- Author/Creator:
- White, Eugene N.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w6063.
- NBER working paper series no. w6063
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- The Legacy of Deposit Insurance
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 1997.
- Summary:
- Without the Great Depression, the United States would not have adopted deposit insurance. While the New Deal's anti-competitive barriers have largely collapsed become" deeply rooted. This paper examines how market and political competition for deposits raised the level of coverage and spread insurance to all depository institutions. A comparison of the cost of federal insurance with a counterfactual of an insurance-free system shows that federal insurance ultimately imposed a" higher cost but achieved political acceptance because of the distribution of the burden.
- Notes:
- Print version record
- June 1997.
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