
"Liquidity Risk, Bank Networks, and the Value of Joining the Federal Reserve System"
by Haelim Anderson, Charles W. Calomiris, Matthew Jaremski, and Gary Richardson

This file contains the data and programs required to reproduce the paper. The calculations are created using STATA 14 and require the program to run. The regressions make use of "esstab" to generate excel tables. This user-written program should be downloaded before running the code. To run, open each file, change the current directory to the location of the main replication folder, and copy into STATA. The generated tables will be saved in the "Data" folder.

This directory contains:

 Table2.txt - Contains the code to generate the summary statistics in Table 2.

 Tables3-4.txt - Contains the code to generate the logit regressions in Tables 3 and 4.

 Tables5-6.txt - Contains the code to generate the linear regressions in Tables 5 and 6.

 TablesA1-A3.txt - Contains the code to generate the appendix regressions in Tables A.1, A.2, and A.3.


Data Folder contains: 

 NYBS.dta - Database containing the balance sheets, characteristics, and correspondents of every New York state bank and trust company 1915-1924.

 NYCities.csv - Population of New York cities and their minimum capital requirements.

