TY  - BOOK
AU  - Jaremski,Matthew S.
AU  - Wheelock,David C.
ED  - National Bureau of Economic Research.
TI  - Interbank Networks and the Interregional Transmission of Financial Crises: Evidence from the Panic of 1907 
T2  - NBER working paper series
PY  - 2023///
CY  - Cambridge, Mass.
PB  - National Bureau of Economic Research
KW  - Financial Markets and the Macroeconomy
KW  - jelc
KW  - Banks • Depository Institutions • Micro Finance Institutions • Mortgages
KW  - U.S. • Canada: Pre-1913
KW  - U.S. • Canada: 1913&ndash
N1  - May 2023; Hardcopy version available to institutional subscribers
N2  - 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
UR  - https://www.nber.org/papers/w31270
UR  - http://dx.doi.org/10.3386/w31270
ER  -