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Book
Empirical History of the United States Postal Savings System
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Year: 2019 Publisher: National Bureau of Economic Research

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An Empirical History of the United States Postal Savings System
Authors: --- ---
Year: 2019 Publisher: Cambridge, Mass. National Bureau of Economic Research

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Abstract

Seeking to reach the unbanked, the United States Postal Savings System provided a federally insured savings alternative to traditional banks. Using novel datasets on postal deposits, demographic characteristics, and banks, we study how and by whom the System was used. We find the program was initially used by non-farming immigrant populations for short-term saving, then as a safe haven during the Great Depression, and finally as long-term investment for the wealthy during the 1940s. However, even during the earliest period, Postal Savings was only a partial substitute for traditional banks, as locations with banks often still heavily used postal savings.


Book
The U.S. Postal Savings System and the Collapse of B&Ls During the Great Depression
Authors: --- --- ---
Year: 2022 Publisher: Cambridge, Mass. National Bureau of Economic Research

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Building and Loan Associations (B&Ls) financed over half of new houses constructed in the U.S. during the 1920s but they lost their predominance within the following decades as they were pushed to convert into Savings and Loans (S&Ls). This study examines whether the U.S. government-insured Postal Savings System attracted funds away from B&Ls precisely when they needed them the most in the Great Depression. Annual town- and county-level data from 1920 through 1935 for 3 states show that the sudden rise in local postal savings was associated with local downturns in B&Ls. Using a panel vector autoregression, we find that postal savings significantly reduced the amount of money in B&Ls, yet B&Ls had no significant effect on postal savings banks. Alternatively, postal savings had no significant effect on commercial banks. The results suggest that this competitive dynamic prevented B&Ls from rebounding in the mid-1930s and helped contribute to Great Depression's local real estate lending decline.

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Book
An Empirical History of the United States Postal Savings System
Authors: --- --- ---
Year: 2019 Publisher: Cambridge, Mass. National Bureau of Economic Research

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Abstract

Seeking to reach the unbanked, the United States Postal Savings System provided a federally insured savings alternative to traditional banks. Using novel datasets on postal deposits, demographic characteristics, and banks, we study how and by whom the System was used. We find the program was initially used by non-farming immigrant populations for short-term saving, then as a safe haven during the Great Depression, and finally as long-term investment for the wealthy during the 1940s. However, even during the earliest period, Postal Savings was only a partial substitute for traditional banks, as locations with banks often still heavily used postal savings.

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Book
Deposit Insurance, Uninsured Depositors, and Liquidity Risk During Panics
Authors: --- ---
Year: 2024 Publisher: Cambridge, Mass. National Bureau of Economic Research

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The lack of universal deposit insurance coverage can create liquidity risk during financial crises. This aspect of deposit insurance is hard to test in modern data because of the broad coverage of most systems. We, therefore, study the role that the U.S. Postal Savings System played in commercial bank closures during the Great Depression. The system offered households a federally insured deposit account at post offices throughout the nation, and its structure provides a near-ideal environment to identify this competitive liquidity risk during a crisis. We find that banks that operated nearby a post office that accepted deposits were more likely to close between 1929 and 1935. We further make use of a structural change in the availability of postal depositories in the early 1910 to estimate an IV regression that confirms the results. In either model, the effect is strongest for those banks with low reserves, suggesting that the mechanism was through depositor withdrawals rather than other factors.

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Book
Operative Procedures in Plastic, Aesthetic and Reconstructive Surgery
Authors: --- --- --- --- --- et al.
ISBN: 1626237484 9781626237483 9781466585607 1466585609 9781498716024 1498716024 9781466585591 1466585595 1638535000 9781626236516 Year: 2016 Publisher: New York, New York : Thieme,

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Operative Procedures in Plastic, Aesthetic and Reconstructive Surgery is a comprehensive, step-by-step guide to the most common plastic, aesthetic, and reconstructive procedures. Few resources in the field provide such a detailed description of commonly performed operations in one place. Each chapter presents a well-documented technique for a specific clinical diagnosis. It discusses preoperative markings, intraoperative details, postoperative instructions, and avoidance of complications for each surgical procedure presented. The authors use extensive clinical photographs, drawings, and detailed descriptions to guide readers through each procedure. A list of the essential equipment required for each operation is provided. In addition, the book includes a list of commonly accepted CPT codes associated with the described procedure. In all, 32 procedures are presented including skin grafting, breast reconstruction, liposuction, carpal tunnel release, breast augmentation, brow lift, orbital floor fracture, mandible fracture management, lower extremity reconstruction, and more. Written by experts in plastic and reconstructive surgery worldwide, this book is a valuable resource for practicing plastic surgeons as well as residents and fellows in plastic surgery.

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