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Did Saving Wall Street Really Save Main Street? The Real Effects of TARP on Local Economic Conditions
| Content Provider | Scilit |
|---|---|
| Author | Berger, Allen N. Roman, Raluca A. |
| Copyright Year | 2017 |
| Description | We investigate whether saving Wall Street through TARP really saved Main Street during the recent financial crisis. Our difference-in-difference analysis suggests that TARP statistically and economically significantly increased net job creation and net hiring establishments and decreased business and personal bankruptcies. The results are robust, including accounting for endogeneity. The main mechanisms driving the results appear to be increases in commercial real estate lending and off-balance-sheet real estate guarantees. These results suggest that saving Wall Street via TARP may have helped save Main Street, complementing the TARP literature and contributing to the cost–benefit debate. |
| Related Links | https://www.kansascityfed.org/~/media/files/publicat/reswkpap/pdf/rwp15-13.pdf https://www.cambridge.org/core/services/aop-cambridge-core/content/view/454904B907162F63AA03851D3E00E5EA/S002210901700062Xa.pdf/div-class-title-did-saving-wall-street-really-save-main-street-the-real-effects-of-tarp-on-local-economic-conditions-div.pdf |
| Ending Page | 1867 |
| Page Count | 41 |
| Starting Page | 1827 |
| ISSN | 00221090 |
| e-ISSN | 17566916 |
| DOI | 10.1017/s002210901700062x |
| Journal | Journal of Financial and Quantitative Analysis |
| Issue Number | 5 |
| Volume Number | 52 |
| Language | English |
| Publisher | Cambridge University Press (CUP) |
| Publisher Date | 2017-10-04 |
| Access Restriction | Open |
| Subject Keyword | Journal of Financial and Quantitative Analysis Saved Main Saving Wall Street Save Main Street Street Via Tarp |
| Content Type | Text |
| Resource Type | Article |
| Subject | Finance Accounting Economics and Econometrics |
