Riddiough, Timothy J.; Thompson, Howard E. - Hong Kong Institute for Monetary Research (HKIMR), … - 2012
The panic of 1857 is revisited with the benefit of hindsight provided by the panic of 2007-08, where a number of parallels are identified between the two panics. We present new evidence on causes of the failure of the financial institution that triggered the panic of 1857 and conduct a detailed...