Finance and Economics Discussion Series: Causes of Bank Suspensions in the Panic of 1893 by Mark Carlson

Finance and Economics Discussion Series: Causes of Bank Suspensions in the Panic of 1893

Mark Carlson

40 pages missing pub info (editions)

nonfiction politics
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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...

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