کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
967245 | 931179 | 2007 | 16 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Suspension of payments, bank failures, and the nonbank public's losses
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
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چکیده انگلیسی
We present evidence on the effects of suspensions of payments from an episode that is close to a controlled experiment for examining those effects. In 1861, about 44% of the banks in Wisconsin closed, 81% of the banks in Illinois closed, and noteholders suffered substantial losses. The historical record suggests that an effective suspension of payments in Wisconsin but not in Illinois may explain the difference. Our statistical evidence indicates that the suspension of payments increased the probability of a bank remaining open by about 21 percentage points and decreased noteholders' losses by about 14 cents per dollar.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Monetary Economics - Volume 54, Issue 2, March 2007, Pages 565-580
Journal: Journal of Monetary Economics - Volume 54, Issue 2, March 2007, Pages 565-580
نویسندگان
Gerald P. Jr., Iftekhar Hasan,