Fighting financial crises: learning from the past
by Gorton, Gary
If you've got some money in the bank, chances are you've never seriously worried about not being able to withdraw it. But there was a time in the United States, an era that ended just over a hundred years ago, in which bank customers had to pay close attention to whether the banking system would remain solvent, knowing they might have to rush to retrieve their savings before the bank collapsed. During the National Banking Era (1863-1913), before the establishment of the Federal Reserve, widespr…
Read More ↓Title Statements
- Full title :Fighting financial crises : learning from the past / Gary B. Gorton and Ellis W. Tallman.
Summary
If you've got some money in the bank, chances are you've never seriously worried about not being able to withdraw it. But there was a time in the United States, an era that ended just over a hundred years ago, in which bank customers had to pay close attention to whether the banking system would remain solvent, knowing they might have to rush to retrieve their savings before the bank collapsed. During the National Banking Era (1863-1913), before the establishment of the Federal Reserve, widespread banking panics were indeed rather common. --
Read More ↓Edition Statements
- Publication Date:©2018
Publication Statements
- Publisher(s):The University of Chicago Press
- Place of Publication:Chicago, IL
- Language:eng
- Publication Date:©2018
The Physical Object
- Description:x, 234 pages : : illustrations ; : 24 cm
Edition Identifiers
- ISBN:9780226479514, 022647951X
- oclc:on1022794519
- LC Classification:HB3722
- Dewey Decimal:338.5/420973
Table of Contents
Preface -- Fighting financial crises : learning from the past -- The New York Clearing House Association -- The start of a panic -- What the New York Clearing House did during National Banking Era panics -- Information production and suppression and emergency liquidity -- "Too big to fail" before the Fed -- Certified checks and the currency premium -- The change in depositors' beliefs during suspension -- Aftermath -- What ends a financial crisis? Historical reminders -- Modern crises : perspectives from history -- Guiding principles for fighting crises.
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