Too Big to Fail Before the Fed

Gary Gorton; Ellis W. Tallman

doi:10.1257/aer.p20161043

American Economic Review Vol. 106 No. 5 2016

Too Big to Fail Before the Fed

¹ Yale University, 165 Whitney Avenue, PO Box 208200, New Haven, CT 06520, and NBER (e-mail: ) · ² Federal Reserve Bank of Cleveland, PO Box 66387, Cleveland, OH 44101 (e-mail: )

open access

Abstract

Too-big-to-fail" is consistent with policies followed by private bank clearing houses during financial crises in the U.S. National Banking Era prior to the existence of the Federal Reserve System. Private bank clearing houses provided emergency lending to

DOI: 10.1257/aer.p20161043
Volume: 106
Issue: 5
Pages: 528-532
Language: en
Sources: bibtex:phds-export.bib crossref openalex

Too Big to Fail Before the Fed

Abstract

Cite