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“When confidence is lost, liquidity dries up.” The authors investigate the meaning of “confidence” and “liquidity” in the context of the recent financial crisis, which they maintain is a manifestation of an age-old problem with private money creation: banking panics. The authors explain this problem and provide some evidence with respect to the recent crisis.

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Year of publication:	2010
Authors:	Gorton, Gary ; Metrick, Andrew
Published in:	Review. - Federal Reserve Bank of St. Louis. - 2010, Nov, v. 92, no. 6, p. 507-520
Publisher:	Federal Reserve Bank of St. Louis
Subject:	Bank liquidity \| Financial crises

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Extent:	application/pdf
Type of publication:	Article
Language:	English
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008691074