Details about Caroline Fohlin

Access statistics for papers by Caroline Fohlin.

Last updated 2025-03-14. Update your information in the RePEc Author Service.

Short-id: pfo186

Working Papers

2024

1. Rethinking the Lender of Last Resort: New Evidence on the Stabilization of Money Markets Before the Federal Reserve
   CEPR Discussion Papers, C.E.P.R. Discussion Papers

2022

2. Finance Capitalism in Industrializing Autocracies: Evidence from Corporate Balance Sheets in Imperial Germany and Russia
   CEPR Discussion Papers, C.E.P.R. Discussion Papers
   See also Journal Article Finance capitalism in industrializing autocracies: Evidence from corporate balance sheets in imperial Germany and Russia, Economic History Review, Economic History Society (2025) (2025)
3. Short Sale Bans May Improve Market Quality During Crises: New Evidence from the 2020 Covid Crash
   CEPR Discussion Papers, C.E.P.R. Discussion Papers
4. Short sale bans may improve market quality during crises: New evidence from the 2020 Covid
   SAFE Working Paper Series, Leibniz Institute for Financial Research SAFE View citations (1)

2021

5. Do Global Pandemics Matter for Stock Prices? Lessons from the 1918 Spanish Flu
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)

2020

6. Two Centuries of U.S. Banking Concentration: 1820-2019
   CEPR Discussion Papers, C.E.P.R. Discussion Papers

2016

7. Rumors and Runs in Opaque Markets: Evidence from the Panic of 1907
   CESifo Working Paper Series, CESifo View citations (5)
   Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2015) View citations (3)

2015

8. Liquidty Freezes and Market Runs; Evidencefrom the Panic of 1907
   VfS Annual Conference 2015 (Muenster): Economic Development - Theory and Policy, Verein für Socialpolitik / German Economic Association

2010

9. "Shooting the Messenger?" The Impact of Short Sale Bans in Times of Crisis
   Economics Working Paper Archive, The Johns Hopkins University,Department of Economics View citations (7)

2008

10. Liquidity and Competition in Unregulated Markets
    Carlo Alberto Notebooks, Collegio Carlo Alberto View citations (4)

2006

11. Trading Costs in Early Securities Markets: The Case of the Berlin Stock Exchange, 1880-1910
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (22)
    See also Journal Article Trading Costs in Early Securities Markets: The Case of the Berlin Stock Exchange 1880–1910, Review of Finance, European Finance Association (2006) View citations (22) (2006)

2000

12. Banking Industry Structure, Competition, and Performance: Does Universality Matter?
    Working Papers, California Institute of Technology, Division of the Humanities and Social Sciences
13. Economic, Political, and Legal Factors in Financial System Development: International Patterns in Historical Perspective"
    Working Papers, California Institute of Technology, Division of the Humanities and Social Sciences
14. IPO Underpricing in Two Universes: Berlin, 1882-1892, and New York, 1998-2000
    Working Papers, California Institute of Technology, Division of the Humanities and Social Sciences
15. The Pricing of Securities Risk in a Universal Banking System: Historical Evidence from Germany
    Working Papers, California Institute of Technology, Division of the Humanities and Social Sciences
16. Universal Banking and the Pricing of Securities Risk: Historical Evidence from Germany
    Econometric Society World Congress 2000 Contributed Papers, Econometric Society

1999

17. Company Law, Stock Market Regulation, and the Development of the German Financial System, 1880 - 1913
    Working Papers, California Institute of Technology, Division of the Humanities and Social Sciences

1998

18. Financing Decisions and Corporate Capital Structure in the Later Stages of the German Industrialization
    Working Papers, California Institute of Technology, Division of the Humanities and Social Sciences
19. Historical and Theoretical Debates Over Financial Systems and Industrialization
    Working Papers, California Institute of Technology, Division of the Humanities and Social Sciences

1997

20. Bank Securities Holdings and Industrial Finance Before World War I: Britain and Germany Compared
    Working Papers, California Institute of Technology, Division of the Humanities and Social Sciences
21. Bank Structure and Growth: Insights from British and German Balance Sheets Before World War I
    Working Papers, California Institute of Technology, Division of the Humanities and Social Sciences
22. Revolutionary Finance? Capital Mobilization and Utilization in Pre-War Germany and Italy
    Working Papers, California Institute of Technology, Division of the Humanities and Social Sciences
23. The Universal Banks and the Mobilization of Capital in Imperial Germany
    Working Papers, California Institute of Technology, Division of the Humanities and Social Sciences

1996

24. Fiduciari and Firm Liquidity Constraints: The Italian Experience with German-Style Universal Banking
    Working Papers, California Institute of Technology, Division of the Humanities and Social Sciences
    See also Journal Article Fiduciariand Firm Liquidity Constraints: The Italian Experience with German-Style Universal Banking, Explorations in Economic History, Elsevier (1998) View citations (14) (1998)
25. Relationship Banking, Liquidity, and Investment in the German Industrialization
    Working Papers, California Institute of Technology, Division of the Humanities and Social Sciences
26. Universal Banking Networks and Industrialization: Firm-Level Evidence from Pre-War Germany
    Working Papers, California Institute of Technology, Division of the Humanities and Social Sciences

1995

27. The Rise of Interlocking Directorates in Imperial Germany (also titled “Relationship Banking and corporate governance in the Kaiserreich”)
    Working Papers, California Institute of Technology, Division of the Humanities and Social Sciences

Journal Articles

2025

1. Finance capitalism in industrializing autocracies: Evidence from corporate balance sheets in imperial Germany and Russia
   Economic History Review, 2025, 78, (1), 235-265
   See also Working Paper Finance Capitalism in Industrializing Autocracies: Evidence from Corporate Balance Sheets in Imperial Germany and Russia, CEPR Discussion Papers (2022) (2022)

2024

2. Diana B. Henriques. Taming the Street: The Old Guard, the New Deal, and FDR's Fight to Regulate American Capitalism
   Journal of Economic Literature, 2024, 62, (4), 1687-89

2023

3. Stock returns and the Spanish flu, 1918–1920
   Explorations in Economic History, 2023, 90, (C)

2021

4. How Contagious Was the Panic of 1907? New Evidence from Trust Company Stocks
   AEA Papers and Proceedings, 2021, 111, 514-19 View citations (2)

2020

5. U.S. banking concentration, 1820–2019
   Economics Letters, 2020, 190, (C) View citations (1)

2010

6. Asymmetric Information, Market Power, and the Underpricing of New Stock Issues in Germany, 1882–1892
   The Journal of Economic History, 2010, 70, (3), 630-656 View citations (9)
7. Common stock returns in the pre-WWI Berlin Stock Exchange
   Cliometrica, Journal of Historical Economics and Econometric History, 2010, 4, (1), 75-96 View citations (6)

2007

8. Does Civil Law Tradition and Universal Banking Crowd out Securities Markets? Pre-World War I Germany as Counter-Example
   Enterprise & Society, 2007, 8, (3), 602-641 View citations (13)

2006

9. Trading Costs in Early Securities Markets: The Case of the Berlin Stock Exchange 1880–1910
   Review of Finance, 2006, 10, (4), 587-612 View citations (22)
   See also Working Paper Trading Costs in Early Securities Markets: The Case of the Berlin Stock Exchange, 1880-1910, CEPR Discussion Papers (2006) View citations (22) (2006)

2004

10. Richard Deeg, Financial Capitalism Unveiled: Banks and the German Political Economy
    Small Business Economics, 2004, 23, (2), 169-170

2002

11. Corporate Capital Structure and the Influence of Universal Banks in Pre- World War I Germany
    Jahrbuch für Wirtschaftsgeschichte / Economic History Yearbook, 2002, 43, (2), 113-134 View citations (3)
12. Regulation, taxation and the development of the German universal banking system, 1884–1913
    European Review of Economic History, 2002, 6, (2), 221-254 View citations (9)

2001

13. The Balancing Act of German Universal Banks and English Deposit Banks, 1880-1913
    Business History, 2001, 43, (1), 1-24 View citations (4)

2000

14. The Role of Banks in Monitoring Firms: the Case of the Crédit Mobilier. By Elisabeth Paulet. New York: Routledge, 1999. Pp. 178. $90.00
    The Journal of Economic History, 2000, 60, (2), 562-563

1999

15. Capital mobilisation and utilisation in latecomer economies: Germany and Italy compared
    European Review of Economic History, 1999, 3, (2), 139-174 View citations (12)
16. The rise of interlocking directorates in imperial Germany
    Economic History Review, 1999, 52, (2), 307-333 View citations (16)
17. Universal Banking in Pre-World War I Germany: Model or Myth?
    Explorations in Economic History, 1999, 36, (4), 305-343 View citations (32)

1998

18. Banking systems and economic growth: lessons from Britain and Germany in the pre-World War I era
    Review, 1998, (May), 37-48 View citations (6)
19. Die Bundesbank im westeuropäischen Wiederaufbau: Die internationale Währungspolitik der Bundesrepublik Deutschland 1948 bis 1958. By Monika Dickhaus. Munich: R. Oldenbourg, 1996. Pp. 286. DM 35, paper
    The Journal of Economic History, 1998, 58, (3), 889-891
20. Fiduciariand Firm Liquidity Constraints: The Italian Experience with German-Style Universal Banking
    Explorations in Economic History, 1998, 35, (1), 83-107 View citations (14)
    See also Working Paper Fiduciari and Firm Liquidity Constraints: The Italian Experience with German-Style Universal Banking, Working Papers (1996) (1996)
21. Trends in Business Organization: Do Participation and Cooperation Increase Competitiveness? Edited by Horst Siebert. Tubingen: J. C. B. Mohr, 1995. Pp. viii, 292. DM 108
    The Journal of Economic History, 1998, 58, (1), 292-293

1997

22. Industrial Constructions: The Sources of German Industrial Power. By Gary Herrigel.Cambridge: Cambridge University Press, 1996. Pp. x, 480
    The Journal of Economic History, 1997, 57, (2), 541-542
23. Universal banking networks in pre-war Germany: new evidence from company financial data
    Research in Economics, 1997, 51, (3), 201-225 View citations (13)

1996

24. Michael Stürmer, Gabriele Teichmann and Wilhelm Treue, Striking the Balance. Sal. Oppenheim jr. & Cie.: A Family and a Bank (London: Weidenfeld and Nicolson, 1994. 512 pp.)
    Financial History Review, 1996, 3, (2), 220-221
25. Modern Europe - The Evolution of Financial Institutions and Markets in Twentieth-Century Europe. Edited by Cassis Youssef, Gerald D. Feldman, and Ulf Olsson. Aldershot: Scholar Press, 1995. Pp. vi, 337. $79.95
    The Journal of Economic History, 1996, 56, (1), 237-238

1989

26. Terms of Trade and Factor Commitments in Agriculture
    Journal of Agricultural Economics Research, 1989, 41, (4), 6 View citations (3)

Books

2014

1. Mobilizing Money
   Cambridge Books, Cambridge University Press
   Also in Cambridge Books, Cambridge University Press (2012) View citations (1)

2011

2. Finance Capitalism and Germany's Rise to Industrial Power
   Cambridge Books, Cambridge University Press View citations (13)
   Also in Cambridge Books, Cambridge University Press (2007) View citations (38)

Chapters

2024

1. Financial Systems
   Springer
   Also in Springer (2016)

2023

2. Equity trading
   Chapter 16 in Research Handbook of Financial Markets, 2023, pp 358-377

2005

3. The History of Corporate Ownership and Control in Germany
   A chapter in A History of Corporate Governance around the World: Family Business Groups to Professional Managers, 2005, pp 223-282 View citations (32)