The Great Depression is infamous for banking panics, which were a symptomatic of a phenomenon that scholars have … these events and how banks that remained in operation after panics responded. We show that between 1929-32 banking panics … reduced lending by 13%, relative to its 1929 value, and the money multiplier and money supply by 36%. The banking panics, in …

U.S. banking crisis of the 20th century. Our systemic risk measure captures both the credit risk of an individual bank … commercial banking system (i.e., the network’s topology) created more inherent fragility, but systemic risk was nevertheless … banking crisis that occurred between 1930{33 raised systemic risk per bank by 33% and increased the riskiness of the very …