Market Contagion: Evidence from the Panics of 1854 and 1857
To test a model of contagion -where individuals hear some bad news and communicate it to their acquaintances, who pass it on in turn, leading to a market panic- requires a knowledge of the information networks of market participants, something hitherto unavailable. For two panics in the 1850s this paper examines the bahaviour of Irish depositors in a New York bank.
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|Date of creation:||1999|
|Date of revision:|
|Contact details of provider:|| Postal: Ireland; University College Dublin, Department of Political Economy, Centre for Economic Research, Belfield, Dublin 4|
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