The DOI matches its Crossref record; 22 of the 22 references it cites were found in a registry or an index.
Monetary Intervention Mitigated Banking Panics during the Great Depression: Quasi‐Experimental Evidence from a Federal Reserve District Border, 1929–1933
Abstract
The Federal Reserve Act divided Mississippi between the 6th (Atlanta) and 8th (St. Louis) Districts. During the Great Depression, these districts’ policies differed. Atlanta championed monetary activism and the extension of aid to ailing banks. St. Louis eschewed expansionary initiatives. During a banking crisis in 1930, Atlanta expedited lending to banks in need. St. Louis did not. Outcomes differed across districts. In Atlanta, banks survived at higher rates, lending continued at higher levels, commerce contracted less, and recovery began earlier. These patterns indicate that central bank intervention influenced bank health, credit availability, and business activity.
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Cites
Bank Runs, Deposit Insurance, and Liquidity
Diamond, D. W., & Dybvig, P. H. (1983) · Journal of Political Economy · doi:10.1086/261155 · Cited by 9,369
A Monetary History of the United States, 1867-1960
(2017) · The SHAFR Guide Online · doi:10.1163/2468-1733_shafr_sim280020213 · Cited by 2,467
Non-Monetary Effects of the Financial Crisis in the Propagation of the Great Depression
Bernanke, B. (1983) · National Bureau of Economic Research · doi:10.3386/w1054 · Cited by 2,173
A Monetary History of the United States, 1867-1960
Fels, R., Friedman, M., & Schwartz, A. J. (1964) · Southern Economic Journal · doi:10.2307/1055374 · Cited by 1,752
Nonmonetary Effects of the Financial Crisis in the Propagation of the Great Depression
(2024) · Essays on the Great Depression · doi:10.2307/jj.4908259.6 · Cited by 1,701
Liquidity Shortages and Banking Crises
DIAMOND, D. W., & RAJAN, R. G. (2005) · The Journal of Finance · doi:10.1111/j.1540-6261.2005.00741.x · Cited by 874
Does Monetary Policy Matter? A New Test in the Spirit of Friedman and Schwartz
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A HISTORY OF THE FEDERAL RESERVE
MELTZER, A., & GOODHART, C. A. E. (2005) · Macroeconomic Dynamics · doi:10.1017/s1365100505040083 · Cited by 643
Fundamentals, Panics, and Bank Distress During the Depression
Calomiris, C. W., & Mason, J. R. (2003) · American Economic Review · doi:10.1257/000282803322655473 · Cited by 495
The Great Depression and the Friedman-Schwartz Hypothesis
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Cited by
Angrist, J. D., & Pischke, J.-S. (2010) · Journal of Economic Perspectives · doi:10.1257/jep.24.2.3 · Cited by 1,566
Metadata
- Authors
- Richardson, G., & Troost, W.
- Venue
- Journal of Political Economy
- Publisher
- University of Chicago Press
- Published
- 2009-12
- Volume
- 117
- Issue
- 6
- Pages
- 1031-1073
- ISSN
- 0022-3808 (ISSN-L)
- 1537-534X
- OpenAlex
- W2164915156
- Cited by
- 265
- References
- 22
- FWCI
- 15.69
- Type
- journal article
- Language
- en
- Open access
- closed
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