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Who Can Tell Which Banks Will Fail?

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NBER2022-02-01 更新2025-01-04 收录
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https://www.nber.org/papers/w29753
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We study the run on the German banking system in 1931 to understand whether depositors anticipate which banks will fail in a major financial crisis. We find that deposits decline by around 20% during the run. There is an equal outflow of retail and non-financial wholesale deposits from both failing
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2022-02-01
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