| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w26908 |
| 来源ID | Working Paper 26908 |
| Banking Crises without Panics | |
| Matthew Baron; Emil Verner; Wei Xiong | |
| 发表日期 | 2020-03-30 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | We examine historical banking crises through the lens of bank equity declines, which cover a broad sample of episodes of banking distress both with and without banking panics. To do this, we construct a new dataset on bank equity returns and narrative information on banking panics for 46 countries over the period 1870-2016. We find that even in the absence of panics, large bank equity declines are associated with substantial credit contractions and output gaps. While panics can be an important amplification mechanism, our results indicate that panics are not necessary for banking crises to have severe economic consequences. Furthermore, panics tend to be preceded by large bank equity declines, suggesting that panics are the result, rather than the cause, of earlier bank losses. We also use bank equity returns to uncover a number of forgotten historical banking crises and to create a banking crisis chronology that distinguishes between bank equity losses and panics. |
| 主题 | Financial Economics ; Financial Institutions |
| URL | https://www.nber.org/papers/w26908 |
| 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/584581 |
| 推荐引用方式 GB/T 7714 | Matthew Baron,Emil Verner,Wei Xiong. Banking Crises without Panics. 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 | ||
| w26908.pdf（2720KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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