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Conference Paper
The panic of 2007
Conference Paper
The opening of new markets for bank assets
Journal Article
Private clearinghouses and the origins of central banking
Working Paper
How Did Pre-Fed Banking Panics End?
How did pre-Fed banking crises end? How did depositors? beliefs change? During the National Banking Era, 1863-1914, banks responded to the severe panics by suspending convertibility; that is, they refused to exchange cash for their liabilities (checking accounts). At the start of the suspension period, the private clearing houses cut off bank-specific information. Member banks were legally united into a single entity by the issuance of emergency loan certificates, a joint liability. A new market for certified checks opened, pricing the risk of clearing house failure. Certified checks traded ...
Conference Paper
The social costs of bank capital
Conference Paper
The market's evaluation of bank risk: a methodological approach
Conference Paper
Banks and corporate finance in Germany
Conference Paper
The paradox of loan sales
Conference Paper
Pricing bank loans