Fighting financial crises : learning from the past

Fighting financial crises : learning from the past /

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...

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Bibliographic Details
Main Authors: Gorton, Gary (Author), Tallman, Ellis W. (Ellis William), 1958- (Author)
Format: Book
Language:English
Published: Chicago, IL ; London : The University of Chicago Press, 2018.
Subjects:
New York Clearing House Association.
1865-1918
Financial crises.
Financial crises > United States > History.
Clearinghouses (Banking) > New York (State) > New York.
Clearinghouses (Banking)
Economic history.
BUSINESS & ECONOMICS / Banks & Banking.
BUSINESS & ECONOMICS / Economic History.
BUSINESS & ECONOMICS / Government & Business.
United States > Economic conditions > 1865-1918.
New York (State) > New York.
United States.
History.
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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