lukestein’s avatarlukestein’s Twitter Archive—№ 12,077

          1. Always fun to discuss a good paper! The FSB was big and impactful. Constantine and I [RFS] and Xuanyu (Iris) Fu [UCLA JMP] have looked at effects of the bank, incl. 𝙤𝙣 trust. VT and @malcolmwardlaw look at effects 𝙤𝙛 trust (among many other things) 1/4 @malcolmwardlaw/1397668157054242820
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        1. …in reply to @lukestein
          They show that incidence of racial violence depresses new account opening. So does the 1873 failure of Jay Cooke that presaged the failure of the FSB a year later. The paper teases out patterns across branch and individual characteristics. 2/4
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      1. …in reply to @lukestein
        Especially later in its history, there were more non-Black FSB depositors (especially at certain branches) They responded to the Cooke failure differently in terms of • new accounts and • success getting out before the ultimate collapse Again, 𝙢𝙪𝙘𝙝 more in the paper 3/4
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    1. …in reply to @lukestein
      VT and MW also have (and share!! freedmansbank.uga.edu ) amazing data on who got “dividends” that reimbursed 𝘴𝘰𝘮𝘦 depositors <62 cents on the dollar in the eight years after the bank’s failure I’m really looking forward to learning more from them 4/4
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  1. …in reply to @lukestein
    Bonus: Malcolm eats his own dogfood👇and estimates count models (𝚗𝚋𝚛𝚎𝚐?), as more of us should 5/4 @malcolmwardlaw/1396595868720144384
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