| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w16460 |
| 来源ID | Working Paper 16460 |
| Arresting Banking Panics: Fed Liquidity Provision and the Forgotten Panic of 1929 | |
| Mark Carlson; Kris James Mitchener; Gary Richardson | |
| 发表日期 | 2010-10-14 |
| 出版年 | 2010 |
| 语种 | 英语 |
| 摘要 | Scholars differ on whether Federal Reserve intervention mitigated banking panics during the Great Depression and in recent years. The last panic prior to the Depression sheds light on this debate. In April 1929, a fruit fly infestation in Florida forced the U.S. government to quarantine fruit shipments from the state and destroy infested groves. When Congress recessed in June without approving compensation for farmers, depositors in citrus growing regions began withdrawing deposits from banks, culminating in runs on institutions in the financial center of Tampa and surrounding cities. Using archival evidence, we describe how the Federal Reserve Bank of Atlanta halted the spread of the panic by rushing currency to member banks. Analysis based on a new micro-level database of commercial banks in Florida shows that bank failures would have been twice as high without the Fed's intervention. The policy response of the Fed ended the panic and suggests that similar interventions by the Fed may have been useful during the Great Depression, even in cases where banks faced questions about their solvency. |
| 主题 | Macroeconomics ; Money and Interest Rates ; Monetary Policy ; Financial Economics ; Financial Institutions ; History ; Financial History |
| URL | https://www.nber.org/papers/w16460 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/574134 |
| 推荐引用方式 GB/T 7714 | Mark Carlson,Kris James Mitchener,Gary Richardson. Arresting Banking Panics: Fed Liquidity Provision and the Forgotten Panic of 1929. 2010. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w16460.pdf（213KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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