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 …

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 …

Liquidity shocks transmitted through interbank connections contributed to bank distress during the Great Depression …

Liquidity shocks transmitted through interbank connections contributed to bank distress during the Great Depression …

links between failures of banks and bankruptcies of firms. Our analysis indicates that bank failures triggered bankruptcies …

that debt led to the failure of numerous brokerage houses, precursor to the modern investment bank. During the Panic of …