Jaremski, Matthew S. <br/><br/>
Interbank Networks and the Interregional Transmission of Financial Crises:  Evidence from the Panic of 1907 / 
Matthew S. Jaremski, David C. Wheelock. 
 - Cambridge, Mass.  National Bureau of Economic Research  2023. 
 - 1 online resource:  illustrations (black and white); 
 - NBER working paper series  no. w31270 .
 - Working Paper Series (National Bureau of Economic Research)  no. w31270. .
<br/><br/> May 2023. 
<br/><br/> This paper provides quantitative evidence on interbank transmission of financial distress in the Panic of 1907 and ensuing recession. Originating in New York City, the panic led to payment suspensions and emergency currency issuance in many cities. Data on the universe of interbank connections show that i) suspension was more likely in cities whose banks had closer ties to banks at the center of the panic, ii) banks with such links were more likely to close in the panic and recession, and iii) banks responded to the panic by rearranging their correspondent relationships, with implications for network structure. 
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<br/><br/><label>Subjects--Topical Terms: </label><br/>Financial Markets and the Macroeconomy<br/>Banks &bull; Depository Institutions &bull; Micro Finance Institutions &bull; Mortgages<br/>U.S. &bull; Canada: Pre-1913<br/>U.S. &bull; Canada: 1913&ndash;