Prior to the financial crisis of 2007-2008, economists thought that no such crisis could or
would ever happen again in the United States, that financial events of such magnitude were …

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 …

This article examines self-fulfilling prophecies and the conditions under which they are most
likely to arise. The term 'self-fulfilling prophecy'(SFP) was coined in 1948 by Robert K …

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 …

The unit banking structure of the United States produced a uniquely important interbank
correspondent network. During the National Banking Era, this network normally provided …

Scholars differ on whether central bank intervention mitigates banking panics. In April 1929,
a fruit fly infestation in Florida forced the US government to quarantine fruit shipments from …

We evaluate the performance of two popular systemic risk measures, CoVaR and SRISK,
during eight financial panics in the era before FDIC insurance. Bank stock price and balance …

Abstract The National Banking Acts (NBAs) of 1863–1864 established rules governing the
amounts and locations of interbank deposits, thereby reshaping the bank networks. Using …

Community reactions against organizations can be driven by negative information spread
through a diffusion process that is distinct from the diffusion of organizational practices. Bank …

The high social costs of financial crises imply that economists, policymakers, businesses,
and households have a tremendous incentive to understand, and try to prevent them. And …