@article { , title = {The real effects of banking supervision: Evidence from enforcement actions}, abstract = {© 2016 Elsevier Inc. We present a novel way to examine macro-financial linkages by focusing on the real effects of bank supervisors’ enforcement actions. Exploiting plausibly exogenous variation in supervisory monitoring intensity, we show that enforcement actions in single-market banks trigger temporarily large adverse effects for the macroeconomy by reducing personal income growth, the number of establishments, and increasing unemployment. These effects are related to contractions in bank lending and liquidity creation, and are more pronounced when we consider enforcement actions on both single-market and multi-market banks, and in counties with fewer banks and greater external financial dependence.}, doi = {10.1016/j.jfi.2016.10.003}, eissn = {1096-0473}, issn = {1042-9573}, issue = {A}, journal = {Journal of Financial Intermediation}, note = {REF\_eligibility comment: This paper was accepted for publication on 21/10/2016. The AAM was deposited by the author, Enrico Onali, in the research repository of Aston University on 02/11/2016, i.e. within 3 months of the date of acceptance. Date of deposit obtained by contacting the Aston Open Access team directly as the date is not visible in the publicly-available record (http://publications.aston.ac.uk/29360/). [From Sarah Beach email of 16/10/18 10:11]}, pages = {86-101}, publicationstatus = {Published}, publisher = {Elsevier}, url = {https://nottingham-repository.worktribe.com/output/821213}, volume = {35}, keyword = {Macro-financial linkages, Real effects, Economic growth;Supervision, Enforcement actions}, year = {2018}, author = {Danisewicz, Piotr and McGowan, Danny and Onali, Enrico and Schaeck, Klaus} }