Im Juli 1931 waren die Berliner Großbanken nur noch begrenzt zahlungsfähig. Der deutsche Bankensektor kollabierte, was die Wirtschaftskrise weiter befeuerte. Anhand der Geschäftsentwicklungen bei der Commerzbank, der Dresdner Bank, der Darmstädter und der Nationalbank seit den 1920er-Jahren...

This paper analyzes the evolution of money and monetary institutions in the context of the functional aspects of money. The different monetary standards in history are discussed in terms of the interplay of economic and political motives. The institutions supporting the existence, evolution and...

The early 20th century United States provides an opportunity to determine whether imposing capital requirements on commercial banks promotes banking stability in the long run. The structure of the national banking system facilitates inference using a regression discontinuity design. The...

We examine historical banking crises through the lens of bank equity declines, which cover a broad sample of episodes of banking distress both with and without banking panics. To do this, we construct a new dataset on bank equity returns and narrative information on banking panics for 46...

Central banks provide public liquidity to traditional (regulated) banks with the intention of stabilizing the financial system. Shadow banks are not regulated, yet they indirectly access such liquidity through the interbank system. We build a model that shows how public liquidity provision may...

The activity of Italian banks in Egypt in the first half of the 20th century represents an almost unexplored field of investigation in economic and banking historiography. This article is the first attempt to innovate the Italian banking literature in this area, providing evidence from a country...

Central banks provide public liquidity to traditional (regulated) banks with the intention of stabilizing the financial system. Shadow banks are not regulated, yet they indirectly access such liquidity through the interbank system. We build a model that shows how public liquidity provision may...

We examine historical banking crises through the lens of bank equity declines, which cover a broad sample of episodes of banking distress both with and without banking panics. To do this, we construct a new dataset on bank equity returns and narrative information on banking panics for 46...

Maintaining sufficient liquidity in the financial system is vital for its stability. However, since returns on liquid assets are typically low, individual financial institutions may seek to hold fewer such assets, especially if they believe they can rely on other institutions for liquidity...