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article4 - Fin 4324 01 Article Summary#1 Chapter 2 Impact...

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Fin 4324- 01 February 14, 2011 Article Summary #1 Chapter 2: Impact of Government Policy & Regulation Beck, Thorsten. "Big Bad Banks? The Winners and Losers from Bank Deregulation in the United States." The American Finance Association . Web. 20 Apr. 2010. <http://www.afajof.org/>. The paper’s major finding is that deregulation of branching restrictions tightened the distribution of income by raising incomes in the lower half of the income distribution. While income inequality widened in the overall U.S. economy during the sample period, branch deregulation lowered inequality relative to this national trend. This finding is fit to using different measures of income inequality, controlling for time-varying state characteristics, and controlling for both state and year fixed effects. We find no evidence that reverse causality or prior trends in the distribution of income account for these findings. I believe that this correlates to what we have learned in class due to the fact that we had to learn about the process of certain banks and how they are chartered, regulated, etc. For example, in the last few years, it has been extremely apparent
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of the bank regulations put in place.
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