Banking crises in historical perspective

C Frydman, C Xu - Annual Review of Financial Economics, 2023 - annualreviews.org
This article surveys the recent empirical literature on historical banking crises, defined as
events taking place before 1980. Advances in data collection and identification have …

[图书][B] Handbook of macroeconomics

JB Taylor, M Woodford - 1999 - books.google.com
Part 6: Financial Markets and the Macroeconomy. 19. Asset prices, consumption, and the
business cycle (JY Campbell). 20. Human behavior and the efficiency of the financial system …

Fiscal and financial crises

MD Bordo, CM Meissner - Handbook of macroeconomics, 2016 - Elsevier
Interconnections between banking crises and fiscal crises have a long history. We document
the long-run evolution from classic banking panics toward modern banking crises where …

A new history of banking panics in the United States, 1825–1929: construction and implications

AJ Jalil - American Economic Journal: Macroeconomics, 2015 - aeaweb.org
There are two major problems in identifying the output effects of banking panics of the pre–
Great Depression era. First, it is not clear when panics occurred because prior panic series …

Network contagion and interbank amplification during the Great Depression

KJ Mitchener, G Richardson - Journal of Political Economy, 2019 - journals.uchicago.edu
Interbank networks amplified the contraction in lending during the Great Depression. Panics
induced banks in the hinterland to withdraw interbank deposits from Federal Reserve …

The promise and performance of the Federal Reserve as lender of last resort 1914-1933

MD Bordo, DC Wheelock - 2011 - nber.org
This paper examines the origins and early performance of the Federal Reserve as lender of
last resort. The Fed was established to overcome the problems of the National Banking era …

Political foundations of the lender of last resort: a global historical narrative

CW Calomiris, M Flandreau, L Laeven - Journal of Financial Intermediation, 2016 - Elsevier
This paper offers a historical perspective on the evolution of central banks as lenders of last
resort (LOLR). Countries differ in the statutory powers of the LOLR, which is the outcome of a …

Interbank networks in the national banking era: their purpose and their role in the panic of 1893

CW Calomiris, M Carlson - Journal of Financial Economics, 2017 - Elsevier
The unit banking structure of the United States produced a uniquely important interbank
correspondent network. During the National Banking Era, this network normally provided …

Economic effects of runs on early “shadow banks”: Trust companies and the impact of the panic of 1907

C Frydman, E Hilt, LY Zhou - Journal of Political Economy, 2015 - journals.uchicago.edu
We study the effects of a contraction in financial intermediation on nonfinancial firms. The
Panic of 1907 originated in the shadow banks of the time, New York's trust companies. The …

Bank failures and the cost of systemic risk: Evidence from 1900 to 1930

PH Kupiec, CD Ramirez - Journal of Financial Intermediation, 2013 - Elsevier
We measure the effect of bank failures on economic growth using data from 1900 to 1930, a
period without active government stabilization policies and several severe banking crises …