Banking on the Boom, Tripped by the Bust: Banks and the World War I Agricultural Price Shock
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How do banks respond to asset booms? This paper examines i) how U.S. banks responded to the World War I farmland boom; ii) the impact of regulation; and iii) how bank closures exacerbated the post-war bust. The boom encouraged new bank formation and balance sheet expansion (especially by new banks).
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美国国家经济研究局创建时间：
2018-10-01
