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Persistent link: https://www.econbiz.de/10002980114
This article assesses the extent to which government-administered financial shocks and lower interest rates can account for the massive accumulation of bank excess reserves in the Great Depression. Both factors are shown to be statistically significant. Financial shocks did exert astatistically...
Persistent link: https://www.econbiz.de/10012477716
Persistent link: https://www.econbiz.de/10001334956
This article assesses the extent to which government-administered financial shocks and lower interest rates can account for the massive accumulation of bank excess reserves in the Great Depression. Both factors are shown to be statistically significant. Financial shocks did exert astatistically...
Persistent link: https://www.econbiz.de/10012774837