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来源类型 | Working Paper |
规范类型 | 报告 |
DOI | 10.3386/w26859 |
来源ID | Working Paper 26859 |
Contagion of Fear | |
Kris James Mitchener; Gary Richardson | |
发表日期 | 2020-03-16 |
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 | Macroeconomics ; Money and Interest Rates ; Financial Economics ; Financial Institutions ; History ; Financial History |
URL | https://www.nber.org/papers/w26859 |
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/584532 |
推荐引用方式 GB/T 7714 | Kris James Mitchener,Gary Richardson. Contagion of Fear. 2020. |
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 | ||
w26859.pdf(1576KB) | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 |
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