Fighting financial crises: learning from the past
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 Vanking Era panics -- Information production and suppression and emergency liquidity -- "Too big to fail" before the...
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| Main Authors: | , |
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| Format: | Book |
| Language: | English |
| Published: |
Chicago ; London
The University of Chicago Press
[2018]
|
| Subjects: | |
| Online Access: | Inhaltsverzeichnis Inhaltsverzeichnis Klappentext |
| Summary: | 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 Vanking 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 |
| Physical Description: | x, 234 Seiten Diagramme |
| ISBN: | 9780226479514 |
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| adam_text | Contents Preface vu і Fighting Financial Oiscs: Learning from the Fast і 2 The New York Clearing Mouse Association 12 3 The Start of a Panic 26 4 What the New York Clearing Mouse Did during National Banking Fra Panics 37 5 Information Production and Suppression and Emergency Liquidity s; 6 “Too Big to Fail” before the Fed 72 7 Certified Checks and the Currency Premium «7 8 The Change in Depositors’ Beliefs during Suspension 103 9 Aftermath 125 10 What Ends a Financial Crisis? Historical Reminders 130 11 Modern Crises: Perspectives from History 141 12 Guiding Principles for Fighting Crises 169 Appendixes J«9 Sates 211 References 21y Index 2JI
Contents Prelua· vii і Fighting Financial Crises: Learning from the Fast і 2 The New York Clearing House Association 12 3 The Start of a Panic 26 4 What the New York Clearing House Did during National Banking Era Panics 37 5 Information Production and Suppression and Emergency Liquidity 57 6 “Too Big to Fail” before the Fed 72 7 Certified Checks and the Currency Premium «7 8 The Change in Depositors’ Beliefs during Suspension 103 9 Aftermath 125 to What Ends a Financial Crisis? Historical Reminders 130 и Modern Crises: Perspectives from History 141 12 Guiding Principles for Fighting Crises 16y Appendixes 189 Notes 211 References 21y Index 231
GARY В. GORTON AND E L LIS W. T ALL M A N řlifbtlsif fIfisiisclaï Cflsiis Learning from the Past ost bank account holders have never seriously worried about not being able to make a withdrawal. But there was a tim the United States, an era that ended just over a hundred years ago, during which bank custom ers had to pay dose attention to whether the banking system would remain solvent, know ing they might have to rush to retrieve their savings before the bank collapsed. During the National Banking Bra {1863-1913), before the establishment of the Federal Reserve, wide spread banking panics were indeed rather, common. Yet these pre-Fed banking panics, as Gary B, Gorton and Ellis W, Tallman show, bear strik ing similarities to our recent financial crisis. In both cases, something happened to make depositors—whether individual customers or corporate investors— act differently” and find reason to question the value of their bank debt. Fighting Financial Crises thus turns to the past for a fuller understanding of our uncer tain present, investigating howpanics during the National Banking Era played out and how they were eventually quelled and prevented. Gorton and Tallman open with a survey of the period s information environment, tracing the development of national bank notes, checks, and clearinghouses to show how the key to keeping order was to disseminate information very carefully.՛ Identifying the most effective responses based on the framework of the National Banking Era, they then consider the Fed s and the SEC s reactions to the recent cri sis, building an
informative new perspective on how the modern economy works. M
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| any_adam_object | 1 |
| author | Gorton, Gary 1951- Tallman, Ellis W. 1958- |
| author_GND | (DE-588)124255841 (DE-588)170826376 |
| author_facet | Gorton, Gary 1951- Tallman, Ellis W. 1958- |
| author_role | aut aut |
| author_sort | Gorton, Gary 1951- |
| author_variant | g g gg e w t ew ewt |
| building | Verbundindex |
| bvnumber | BV045893240 |
| classification_rvk | NW 2562 QK 100 |
| ctrlnum | (OCoLC)1031889908 (DE-599)BVBBV045893240 |
| discipline | Geschichte Wirtschaftswissenschaften |
| format | Book |
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| spelling | Gorton, Gary 1951- Verfasser (DE-588)124255841 aut Fighting financial crises learning from the past Gary B. Gorton and Ellis W. Tallman Chicago ; London The University of Chicago Press [2018] © 2018 x, 234 Seiten Diagramme txt rdacontent n rdamedia nc rdacarrier 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 Vanking 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 Bankenkrise (DE-588)4209657-1 gnd rswk-swf Finanzkrise (DE-588)7635855-0 gnd rswk-swf Geschichte (DE-588)4020517-4 gnd rswk-swf USA (DE-588)4078704-7 gnd rswk-swf New York Clearing House Association United States Economic conditions New York Economic history Financial crises History 1873-1914 USA (DE-588)4078704-7 g Bankenkrise (DE-588)4209657-1 s Finanzkrise (DE-588)7635855-0 s Geschichte (DE-588)4020517-4 s DE-604 Tallman, Ellis W. 1958- Verfasser (DE-588)170826376 aut Erscheint auch als Online-Ausgabe 978-0-226-47965-1 V:DE-601;B:DE-206 application/pdf http://www.gbv.de/dms/zbw/1018422072.pdf Inhaltsverzeichnis Inhaltsverzeichnis Digitalisierung UB Regensburg - ADAM Catalogue Enrichment application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=031276225&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis Digitalisierung UB Regensburg - ADAM Catalogue Enrichment application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=031276225&sequence=000003&line_number=0002&func_code=DB_RECORDS&service_type=MEDIA Klappentext |
| spellingShingle | Gorton, Gary 1951- Tallman, Ellis W. 1958- Fighting financial crises learning from the past Bankenkrise (DE-588)4209657-1 gnd Finanzkrise (DE-588)7635855-0 gnd Geschichte (DE-588)4020517-4 gnd |
| subject_GND | (DE-588)4209657-1 (DE-588)7635855-0 (DE-588)4020517-4 (DE-588)4078704-7 |
| title | Fighting financial crises learning from the past |
| title_auth | Fighting financial crises learning from the past |
| title_exact_search | Fighting financial crises learning from the past |
| title_full | Fighting financial crises learning from the past Gary B. Gorton and Ellis W. Tallman |
| title_fullStr | Fighting financial crises learning from the past Gary B. Gorton and Ellis W. Tallman |
| title_full_unstemmed | Fighting financial crises learning from the past Gary B. Gorton and Ellis W. Tallman |
| title_short | Fighting financial crises |
| title_sort | fighting financial crises learning from the past |
| title_sub | learning from the past |
| topic | Bankenkrise (DE-588)4209657-1 gnd Finanzkrise (DE-588)7635855-0 gnd Geschichte (DE-588)4020517-4 gnd |
| topic_facet | Bankenkrise Finanzkrise Geschichte USA |
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