PhD Candidate

University of Michigan

virtra@umich.edu

Interests: banking, access to finance, financial intermediation, historical finance

Link to CV Coming Soon

 

Working Papers:

Societal Trust and Financial Market Participation: Evidence from the Freedman’s Savings Bank (With Malcolm Wardlaw)

Using a novel dataset from the Freedman’s Savings Bank, we examine how societal trust impacts policy makers’ goals of increased financial participation and economic integration. We find that events that impact trust in political representation and public safety also impact financial participation. We further find that black depositors are significantly less likely to escape the bank’s collapse and that older depositors with local roots are more likely to have wealth destroyed by the collapse. Our results demonstrate how the inherent fragility of financial institutions can disproportionately impact wealth accumulation in disenfranchised populations.

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