{"product_id":"finance-and-economics-discussion-series-causes-of-bank-suspensions-in-the-panic-of-1893-9781288715916","title":"Finance and Economics Discussion Series: Causes of Bank Suspensions in the Panic of 1893","description":"There are two competing theories explaining bank panics. One argues that panics are driven by real shocks, asymmetric information, and concerns about insolvency. The other theory argues that bank runs are self-fulfilling, driven by illiquidity and the beliefs of depositors. This paper tests predictions of these two theories using information uniquely available for the Crisis of 1893. The results suggest that real economic shocks were important determinants of the location of panics at the national level, however at the local level, both insolvency and illiquidity were important as triggers of bank panics.\u003cbr\u003e\u003cbr\u003e\u003cb\u003eBinding Type:\u003c\/b\u003e Paperback\u003cbr\u003e\u003cb\u003ePublisher:\u003c\/b\u003e Bibliogov\u003cbr\u003e\u003cb\u003ePublished:\u003c\/b\u003e 02\/06\/2013\u003cbr\u003e\u003cb\u003eISBN:\u003c\/b\u003e 9781288715916\u003cbr\u003e\u003cb\u003ePages:\u003c\/b\u003e 40\u003cbr\u003e\u003cb\u003eWeight:\u003c\/b\u003e 0.20lbs\u003cbr\u003e\u003cb\u003eSize:\u003c\/b\u003e 9.69h x 7.44w x 0.08d","brand":"United States Federal Reserve Board, Mark Carlson","offers":[{"title":"Default Title","offer_id":38350313193653,"sku":"9781288715916","price":13.39,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0473\/0804\/6492\/products\/img_ca68ad81-b9f9-4dcc-9cde-703949d91be9.jpg?v=1611644351","url":"https:\/\/pastforward.org\/products\/finance-and-economics-discussion-series-causes-of-bank-suspensions-in-the-panic-of-1893-9781288715916","provider":"Past Forward","version":"1.0","type":"link"}