By analyzing 20 developed economies over 1920–2012, we find the following evidence of
overoptimism and neglect of crash risk by bank equity investors during credit expansions: (i) …

We examine historical banking crises through the lens of bank equity declines, which cover
a broad sample of episodes of banking distress with and without banking panics. To do this, …

For 130 years, dinosaurs have been divided into two distinct clades—Ornithischia and
Saurischia. Here we present a hypothesis for the phylogenetic relationships of the major …

Over the period 1980–2012, large US commercial banks raise and retain less equity during
credit expansions, which amplifies their leverage. The decrease in equity issuance is large …

For over a century, the standard classification scheme has split dinosaurs into two fundamental
groups 1:‘lizard-hipped’saurischians (including meat-eating theropods and long-necked …

We study performance and competition among firms engaging in high-frequency trading (HFT).
We construct measures of latency and find that differences in relative latency account for …

Lesothosaurus diagnosticus from the upper Elliot Formation of South Africa and Lesotho (?Hettangian–Sinemurian)
is an important early representative of Ornithischia. In previous …

Methylphenidate is the psychostimulant medication most commonly prescribed to treat
attention deficit hyperactivity disorder (ADHD). Recent trends in the high usage of …

At high internal doses, pharmaceuticals have the potential for inducing biological/pharmacological
effects in fish. One particular concern for the environment is their potential to …

We study data on commercial banks and securities firms across multiple countries since 1870.
Balance sheet expansion of leveraged intermediaries negatively predicts returns of stocks…