Treatment Effects and Informative Missingness with an Application to Bank Recapitalization Programs

Angela Vossmeyer

American Economic Review, 2014, vol. 104, issue 5, 212-17

Abstract: This article develops a Bayesian framework for estimating multivariate treatment effect models in the presence of sample selection. The methodology is applied to a banking study that evaluates the effectiveness of lender of last resort (LOLR) policies and their ability to resuscitate the financial system. This paper employs a novel bank-level dataset from the Reconstruction Finance Corporation, and jointly models a bank's decision to apply for a loan, the LOLR's decision to approve the loan, and the bank's performance a few years after the disbursements. This framework offers practical estimation tools to unveil new answers to important regulatory questions.

JEL-codes: C21 G21 G28 N22 (search for similar items in EconPapers)
Date: 2014
Note: DOI: 10.1257/aer.104.5.212
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Citations: View citations in EconPapers (1)

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