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We find evidence that the runs on banks and trust companies in the Panic of 1907 were linked to the Bank of England … money market channel. If, as we argue, the bust in copper prices partially provided a trigger to that bank panic, then it … contributing to a bank panic and, therefore, supports other recent findings that monetary policy deliberations might benefit from …
Persistent link: https://www.econbiz.de/10012943729
any, causal connection existed between the failure and the subsequent panic. Using new information sources, we make three … panic ensued with bank assets transitioning into an information sensitive state. Third, we show that Ohio Life's failure and … panic of 1857 …
Persistent link: https://www.econbiz.de/10012977135
on the Panic of 1907, the final severe panic of the National Banking Era (1863-1913). We trace the transmission of the … the two weeks following the suspension. We highlight commonalities between the Panic of 1907 and the financial crisis of …
Persistent link: https://www.econbiz.de/10013047980
One strand of the economics literature addresses financial deepening as a precursor to economic growth. Another views it as a cause of financial crises. We examine historical data for 17 economies from 1870 to 1929 to distinguish episodes of growth induced by financial deepening from crises...
Persistent link: https://www.econbiz.de/10012987647
spread to other financial institutions. Conditions in Helena, Montana at the onset of the Panic of 1893 present an ideal … amplified financial instability during the Panic of 1893 …
Persistent link: https://www.econbiz.de/10013062600
The paper brings to light an article by Knut Wicksell published in Swedish in 1908 about the American crisis of 1907. Wicksell explicitly distinguished, apparently for the first time in the literature, three features of a healthy banking system: Solvency, liquidity, and versatility. The paper...
Persistent link: https://www.econbiz.de/10013149594
Persistent link: https://www.econbiz.de/10010485257
Central bank lender of last resort (LOLR) regimes are the last line of defence before governments are forced to resort to taxpayer-funded bailouts of the financial system. Yet despite this important role, along with a rich theoretical literature examining the function and design of LOLR regimes,...
Persistent link: https://www.econbiz.de/10012847864
Persistent link: https://www.econbiz.de/10012117775
to document how the dominant national banks were crucial providers of temporary liquidity during the Panic of 1907 …
Persistent link: https://www.econbiz.de/10013139391