NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Safety-Net Benefits Conferred on Difficult-to-Fail-and-Unwind Banks in the US and EU Before and During the Great Recession

Santiago Carbo-Valverde, Edward J. Kane, Francisco Rodriguez-Fernandez

NBER Working Paper No. 16787
Issued in February 2011

---- Acknowledgements -----

The authors thank the Fundación de las Cajas de Ahorros (Funcas) for supporting this research. We also thank James Wilcox, Robert Eisenbeis and other participants in the 2011 ASSA meetings and from Marianne Verdier and other participants in the seminar held at the Université Paris Ouest-Nanterre la Défense in January 2011. Comments from Ethan Cohen-Cole, Robert Dickler, Stephen Kane, and James Thomson are also acknowledged and appreciated. Santiago Carbó and Francisco Rodriguez acknowledge financial support from the Spanish Ministry of Science and Innovation and FEDER (ECO2008- 05243/ECON) and from the Consejería de Innovación, Ciencia y Empresa-Junta de Andalucía (P08-SEJ- 03781). Kane is grateful for support received on a related project from the Institute for New Economic Thinking. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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