U.S. Banking Deregulation, Small Businesses, and Interstate Insurance of Personal Income
研究1970-2001年美国银行业放松管制如何改善个人收入的跨州保险，发现对小企业重要州及业主收入影响更大，源于银行作为小企业融资主渠道及业主个人与企业财务紧密交织。
ABSTRACT We estimate the effects of deregulation of U.S. banking restrictions on interstate personal income insurance for the period 1970 to 2001. Interstate income insurance occurs when personal income reacts less than one‐to‐one to state‐specific output shocks. We find that insurance improved after banking deregulation, with a larger effect in states where small businesses are more important and on proprietors' income than on other components of personal income. Our explanation centers on the role of banks as a prime source of small business finance and on the close intertwining of the personal and business finances of small business owners.