The bank crisis radicalized voters beyond what income losses alone can explain

Evidence

This analysis is performed in the spirit of traditional intermediation analysis. We report the formal version of the Sobel-Goodman test for intermediation in column (3). It suggests that the effect of the banking crisis on voting is mediated by income only to a limited extent (compare panel A in Table 3, column 3). In other words, financial distress mattered not only because of the income declines it brought, but in its own right. — Sebastian Doerr et al., Financial Crises and Political…, 109

Categorization

• QUESTION: If income mediates only a limited share, what does the residual channel consist of — propaganda salience, trust destruction?
• recurring: this claim recurs 2 times within its source
• XREF: connects to: Income losses from bank collapse radicalize voters more than equivalent general income declines — Sebastian Doerr et al., Financial Crises and Political…, 108; Danat exposure radicalized Nazi voting beyond the income losses it caused — Sebastian Doerr et al., Financial Crises and Political…, 113; Falling local incomes from the banking crisis raised Nazi vote share substantially — Sebastian Doerr et al., Financial Crises and Political…, 107

Related

• Income losses from bank collapse radicalize voters more than equivalent general income declines (similarity 0.91)
• Financial distress shifted Nazi votes beyond what income loss alone explains. (similarity 0.90)
• Danat exposure radicalized Nazi voting beyond the income losses it caused (similarity 0.89)
• Falling local incomes from the banking crisis raised Nazi vote share substantially (similarity 0.86)
• Identical bank-failure income losses radicalized voters only where media singled out the bank (similarity 0.84)
• An unpublicized bank failure did not radicalize voters despite similar economic damage. (similarity 0.84)
• Media scapegoating, not economic loss alone, drove post-crisis Nazi radicalization (similarity 0.83)
• Prior crisis research neglected electoral radicalization and cultural factors (similarity 0.83)
• Anti-Semitic cultural context magnified the Danat crisis’s radicalizing effect (similarity 0.81)
• Danatbank-exposed cities saw a 2.9-percentage-point extra rise in Nazi vote share. (similarity 0.81)
• Both income shocks and elite scapegoating jointly drove Nazi radicalization (similarity 0.81)
• Danat’s Jewish chairman being singled out explains its stronger radicalization effect over Dresdner’s. (similarity 0.81)
• The Danat collapse boosted Nazi votes beyond nationwide crisis effects (similarity 0.81)
• Prior anti-Semitism roughly doubled the radicalizing effect of bank distress. (similarity 0.80)
• Both failing banks hurt local incomes identically, isolating framing as the differentiator (similarity 0.80)

Broader Connections

• Danat exposure radicalized Nazi voting beyond the income losses it caused #corroborates (0.95) — Sebastian Doerr et al., Financial Crises and Political…, 113
• Income losses from bank collapse radicalize voters more than equivalent general income declines #expands (0.90) — Sebastian Doerr et al., Financial Crises and Political…, 108
• Falling local incomes from the banking crisis raised Nazi vote share substantially #qualifies (0.85) — Sebastian Doerr et al., Financial Crises and Political…, 107