George McCandless () (Central Bank of Argentina) Maria Florencia Gabrielli () (Central Bank of Argentina) MarÃa Josefina Rouillet () (Central Bank of Argentina)
Abstract
We use monthly panel data information on Argentine banks to try to explain the variation in deposits during the 2001 crisis. The variables used are related to the solvency condition of the bank, whether it is public or private, interest rates for each bank and macroeconomic variables referred to general economic conditions. We use our empirical results to attempt to determine whether the bank run is best explained by a self-fulfilling prophecy theory or if fundamentals matter. We find that bank fundamentals show statistically significant coefficients, and with expected sign, providing evidence in favor of the solvency theory.
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Publisher Info
Article provided by Ilades-Georgetown University, Economics Department in its journal Revista de Analisis Economico.
Find related papers by JEL classification: C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
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