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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in: Financial Markets and Financial Crises, pages 109-174
National Bureau of Economic Research, Inc.
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NBER Working Papers
8856, National Bureau of Economic Research, Inc.
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- Calomiris, Charles W. & Schweikart, Larry, 1991. "The Panic of 1857: Origins, Transmission, and Containment," The Journal of Economic History, Cambridge University Press, vol. 51(04), pages 807-834, December.
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