| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP14510 |
| DP14510 Contagion of Fear | |
| Kris Mitchener; Gary Richardson | |
| 发表日期 | 2020-03-19 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | The Great Depression is infamous for banking panics, which were a symptomatic of a phenomenon that scholars have labeled a contagion of fear. Using geocoded, microdata on bank distress, we develop metrics that illuminate the incidence of these events and how banks that remained in operation after panics responded. We show that between 1929-32 banking panics reduced lending by 13%, relative to its 1929 value, and the money multiplier and money supply by 36%. The banking panics, in other words, caused about 41% of the decline in bank lending and about nine-tenths of the decline in the money multiplier during the Great Depression. |
| 主题 | Economic History ; Monetary Economics and Fluctuations |
| 关键词 | Banking panics Great depression Contagion Monetary deflation |
| URL | https://cepr.org/publications/dp14510 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/543412 |
| 推荐引用方式 GB/T 7714 | Kris Mitchener,Gary Richardson. DP14510 Contagion of Fear. 2020. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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