By Garett Jones
Why do banks cave in? Are monetary structures extra fragile in fresh many years? Can rules to mend the banking method do extra damage than strong? what is the background of banking crises? With dozens of short, non-technical articles via economists and different researchers, Banking Crises deals solutions from various scholarly viewpoints.
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Additional info for Banking Crises: Perspectives from The New Palgrave Dictionary
Andréadès, A. 1909. A History of the Bank of England. London: P. S. King and Sons. Bagehot, W. 1873. Lombard Street. London: Kegan, Paul and Co. Bank of England. 1971. Competition and Credit Control. London: Bank of England. Bank for International Settlements. 1963. ‘Bank of England’, in Eight European Central Banks. Basle: Bank for International Settlements. Benati, L. 2005. The Inflation-targeting framework from an historical perspective. Bank of England Quarterly Bulletin 45(2), 160–8. Bowman, W.
1997. Contagion and bank failures during the great depression: the June 1932 Chicago banking panic. American Economic Review 87, 863–83. W. R. 2003a. Fundamentals, panics and bank distress during the depression. American Economic Review 93, 1615–47. W. R. 2003b. Consequences of bank distress during the great depression. American Economic Review 93, 937–47. W. and Schweikart, L. 1991. The panic of 1857: origins, transmission, and containment. Journal of Economic History 51, 807–34. W. N. 1994. The origins of federal deposit insurance.
These findings are in sharp contrast to any theoretical prediction and seem very robust across various treatments. A string of subsequent articles show that bubbles still emerge after allowing for short sales, after introducing trading fees, and when using professional business people as subjects. Only the introduction of futures markets and the repeated experience of a bubble reduce the size of the bubble. Researchers have speculated that bubbles emerge because each trader hopes to outwit others and to pass the asset on to some less rational trader in the final trading rounds.