Alternatives for Distressed Banks during the Great Depression
AbstractUsing data on individual banks during the Great Depression, I find that institutions that failed during periods in which failures were especially numerous, such as the banking panics, appear to have been at least as financially sound as banks that were able to pursue alternative resolution strategies, such as merging with another institution or suspending and recapitalizing, during less extreme periods. This result suggests that problems associated with having numerous banks in distress simultaneously during the Depression may have exacerbated the number of banks closed and the economic downturn. Copyright (c) 2010 The Ohio State University No claim to original US government works.
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Bibliographic InfoArticle provided by Blackwell Publishing in its journal Journal of Money, Credit and Banking.
Volume (Year): 42 (2010)
Issue (Month): 2-3 (03)
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0022-2879
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- Mark Carlson & Kris James Mitchener & Gary Richardson, 2010. "Arresting Banking Panics: Fed Liquidity Provision and the Forgotten Panic of 1929," NBER Working Papers 16460, National Bureau of Economic Research, Inc.
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