The Legacy of Deposit Insurance: The Growth, Spread, and Cost of Insuring Financial Intermediaries

Eugene White ()

No 6063, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: 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.

JEL-codes: G21 N22 (search for similar items in EconPapers)
Date: 1997-06
Note: DAE ME
References: View references in EconPapers View complete reference list from CitEc
Citations:

Published as White, Eugene N. "The Legacy of Deposit Insurance: The Growth, Spread, and Cost of Insuring Financial Intermediaries". The Defining Moment: The Great Depression and the American Economy in the Twentieth Century. Edited by Michael D. Bordo, Claudia Golden, and Eugene N.White, Chicago: The Univeristy of Chicago Press, 1998, pp.87-121.
Published as The Legacy of Deposit Insurance: The Growth, Spread, and Cost of Insuring Financial Intermediaries , Eugene N. White. in The Defining Moment: The Great Depression and the American Economy in the Twentieth Century , Bordo, Goldin, and White. 1998

Downloads: (external link)
http://www.nber.org/papers/w6063.pdf (application/pdf)

Related works:
Chapter: The Legacy of Deposit Insurance: The Growth, Spread, and Cost of Insuring Financial Intermediaries (1998)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:nbr:nberwo:6063

Ordering information: This working paper can be ordered from
http://www.nber.org/papers/w6063

Access Statistics for this paper

More papers in NBER Working Papers from National Bureau of Economic Research, Inc National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.. Contact information at EDIRC.
Bibliographic data for series maintained by ().