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In the summer of 1931, a financial crisis began in Austria, spread to Germany, forced Britain to abandon the gold standard, crossed the Atlantic, and afflicted financial institutions in the United States. This article describes how banks in New York City, the central money market of the United...
Persistent link: https://www.econbiz.de/10013120280
history of six countries where there is sufficient information, three in Europe (England, France, and Italy) and three in the …
Persistent link: https://www.econbiz.de/10013030142
. Britain's control of the seas meant that it was much less affected than other nations, such as France and the United States …. Explicit welfare calculations are provided for four countries, Britain, France, Sweden and the United States. Welfare losses … France, and between 1.7-1.8% per annum in Britain. On the other hand, the conflict helped pave the way for the more liberal …
Persistent link: https://www.econbiz.de/10013221102
the 1790s and later under Napoleon invaded and controlled large parts of Europe. Together with invasion came various …
Persistent link: https://www.econbiz.de/10014209326
Although bank supervision under the National Banking System exercised a light hand and panics were frequent, depositor losses were minimal. Double liability induced shareholders to carefully monitor bank managers and voluntarily liquidate banks early if they appeared to be in trouble. Inducing...
Persistent link: https://www.econbiz.de/10013129130
An examination of U.S. banking history shows that economically efficient private bank money requires that information-revealing securities markets for bank liabilities be closed. That is, banks are optimally opaque, which is why they are regulated and examined. I show this by examining the...
Persistent link: https://www.econbiz.de/10013074293
The United States was the first nation to allow open access to the corporate form to its citizens. The state of Massachusetts was not only one of the first states to provide its members with legally sanctioned tools to create organizations and enable open access but, on a per capita basis, had...
Persistent link: https://www.econbiz.de/10013015099
Persistent link: https://www.econbiz.de/10013150728
Early American firms were shaped by contemporary social conceptions of appropriate horizontal power relations inside the firm and the Federalist era bank was shaped by these conceptions. The Federalist era debate on the corporation was much broader than how shareholders would treat with one...
Persistent link: https://www.econbiz.de/10013158035
Because California was a pioneer in the development of intrastate branching, we use its experience during the 1920s and 1930s to assess the effects of the expansion of large-scale, branch-banking networks on competition and the stability of banking systems. Using a new database of individual...
Persistent link: https://www.econbiz.de/10012777583