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Finance and Economics Discussion Series - Causes of Bank Suspensions in the Panic of 1893 (Paperback) Loot Price: R349

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Finance and Economics Discussion Series - Causes of Bank Suspensions in the Panic of 1893 (Paperback): United States Federal...

Finance and Economics Discussion Series - Causes of Bank Suspensions in the Panic of 1893 (Paperback)

United States Federal Reserve Board; Mark Carlson

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List price ~~R382~~ Loot Price R349 Discovery Miles 3 490 You Save R33 (9%)

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There are two competing theories explaining bank panics. One argues that panics are driven by real shocks, asymmetric information, and concerns about insolvency. The other theory argues that bank runs are self-fulfilling, driven by illiquidity and the beliefs of depositors. This paper tests predictions of these two theories using information uniquely available for the Crisis of 1893. The results suggest that real economic shocks were important determinants of the location of panics at the national level, however at the local level, both insolvency and illiquidity were important as triggers of bank panics.

General

Imprint:	Bibliogov
Country of origin:	United States
Release date:	February 2013
First published:	February 2013
Creators:	United States Federal Reserve Board
Authors:	Mark Carlson
Dimensions:	246 x 189 x 2mm (L x W x T)
Format:	Paperback - Trade
Pages:	40
ISBN-13:	978-1-288-71591-6
Categories:	Books > Social sciences > Politics & government > General Promotions
LSN:	1-288-71591-9
Barcode:	9781288715916