document how the dominant national banks were crucial providers of temporary liquidity during the Panic of 1907. Clearinghouse … system. -- Clearinghouse ; financial crisis ; panic ; lender of last resort …We employ a new data set comprised of disaggregate figures on clearinghouse loan certificate issues in New York City to …

This paper provides quantitative evidence on the interbank network’s role in transmitting the Panic of 1907 across the … United States. Originating in a few New York City banks and trust companies, the panic led to payment suspensions and … more likely in cities whose banks had closer ties to New York, ii) banks with correspondents at the Panic’s center were …

States. We highlight aspects of two National Banking Era crises (the Panic of 1873 and the Panic of 1907) that are relevant … for comparison with the Panic of 2008. In 1873, overinvestment in railroad debt and the default of railroad companies on … that debt led to the failure of numerous brokerage houses, precursor to the modern investment bank. During the Panic of …

The actions taken by J. P. Morgan during the Panic of 1907 reveal how a skilled leader can dominate those of formal … during the Panic in the absence of a formal lender of last resort (LOLR). Morgan's Syndicate Books provide evidence that all … distinguishable effect during the Panic on the prices of bonds underwritten by his syndicates. We find that during the Panic bond …

to document how the dominant national banks were crucial providers of temporary liquidity during the Panic of 1907 …

economies to the Panic of 1907, we estimate the effect of bank failures on economic activity. The results indicate that bank …

on the Panic of 1907, the final severe panic of the National Banking Era (1863-1913). We trace the transmission of the … the two weeks following the suspension. We highlight commonalities between the Panic of 1907 and the financial crisis of …

spread to other financial institutions. Conditions in Helena, Montana at the onset of the Panic of 1893 present an ideal … amplified financial instability during the Panic of 1893 …