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 truncation that jointly considers bank survival, the type of bank closure … (consolidations, absorption, and failures), and changes to bank risk. Despite roughly 9,000 bank closures, risk did not leave the …

labeled a contagion of fear. Using geocoded, microdata on bank distress, we develop metrics that illuminate the incidence of … other words, caused about 41% of the decline in bank lending and about nine-tenths of the decline in the money multiplier …

, which may have intensified the diabolic loop between sovereign and bank credit risks. By using a novel bank-level dataset …

This paper studies the role of a lender of last resort (LLR) in a monetary model where a shortage of bank’s monetary …

U.S. banking crisis of the 20th century. Our systemic risk measure captures both the credit risk of an individual bank … as well as a bank’s position in the network. We construct linkages between all U.S. commercial banks in 1929 and 1934 so … banking crisis that occurred between 1930{33 raised systemic risk per bank by 33% and increased the riskiness of the very …