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Interbank Networks and the Interregional Transmission of Financial Crises : Evidence from the Panic of 1907

Jaremski, Matthew S.; Wheelock, David C. - National Bureau of Economic Research - 2023

This paper provides quantitative evidence on interbank transmission of financial distress in the Panic of 1907 and ensuing recession. Originating in New York City, the panic led to payment suspensions and emergency currency issuance in many cities. Data on the universe of interbank connections...

Persistent link: https://www.econbiz.de/10014287370

The Spanish Mission Legacy on Native American Reservations

Alston, Lee J.; Duggan, Marie Christine; Pastrana, … - National Bureau of Economic Research - 2022

We explore the long run impact of the Spanish missions on Native American outcomes in the early 20th century. Native communities who interacted with Spanish missionaries developed into enclaves which blended Catholicism with native culture. Some survived assaults on their property rights by...

Persistent link: https://www.econbiz.de/10013334468

Business cycle dynamics after the Great Recession : an extended Markov-Switching dynamic factor model

Doz, Catherine; Ferrara, Laurent; Pionnier, Pierre-Alain - 2020

need for macroeconomic forecasters to account for sudden and deep recessions, periods of higher macroeconomic volatility … Factor Model (MS-DFM) by incorporating two new features: switches in volatility and time-variation in trend GDP growth. First …, we show that volatility switches largely improve the detection of business cycle turning points in the low-volatility …

Persistent link: https://www.econbiz.de/10012227436

The macroeconomic effects of uncertainty shocks : the role of the financial channel

Popp, Aaron; Zhang, Fang - In: Journal of economic dynamics & control 69 (2016), pp. 319-349

Persistent link: https://www.econbiz.de/10011708586

Businesses and Borrowing during the Roaring '20s and at the Onset of the Great Depression

Richardson, Gary; Angel, Marco del - National Bureau of Economic Research - 2024

Which firms relied on commercial banks for credit and which firms did not at the onset of the Great Depression would seem to be an important question given the vast literature discussing banking distress in the United States during the 1930s. The question, however, has not been answered. This...

Persistent link: https://www.econbiz.de/10015072860

Do Government Spending Multipliers Depend on the Sign of the Shock?

Ben Zeev, Nadav; Ramey, Valerie A.; Zubairy, Sarah - National Bureau of Economic Research - 2023

We analyze whether government spending multipliers differ by the sign of the shock. Using aggregate historical U.S. data, we apply Ben Zeev's (2020) nonlinear diagnostic tests and find evidence of nonlinearities in the impulse response functions of both government spending and GDP. We then...

Persistent link: https://www.econbiz.de/10014247936

How do Financial Crises Redistribute Risk?

Mitchener, Kris; Vossmeyer, Angela - National Bureau of Economic Research - 2023

We examine how financial crises redistribute risk, employing novel empirical methods and micro data from the largest financial crisis of the 20th century - the Great Depression. Using balance-sheet and systemic risk measures at the bank level, we build an econometric model with incidental...

Persistent link: https://www.econbiz.de/10014337771

How crashes develop : intradaily volatility and crash evolution

Bates, David S. - 2016

Persistent link: https://www.econbiz.de/10011451109

Global financial cycles since 1880

Potjagailo, Galina; Wolters, Maik H. - In: Journal of international money and finance 131 (2023), pp. 1-13

Persistent link: https://www.econbiz.de/10014248868

The two greatest : great recession vs. great moderation

Gadea, María Dolores; Loscos, Ana Gómez; … - 2014

Persistent link: https://www.econbiz.de/10010409083

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