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Replication data for: Too Big to Fail before the Fed

Version
V0
Resource Type
Dataset
Creator
  • Gorton, Gary
  • Tallman, Ellis W.
Publication Date
2016-05-01
Description
  • 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 member banks during financial crises. This behavior strongly suggests that "too-big-to-fail" is not the problem causing modern crises. Rather it is a reasonable response to the threat posed to large banks by the vulnerability of short-term debt to runs.
Availability
Download
Relations
  • Is supplement to
    DOI: 10.1257/aer.p20161043 (Text)
Publications
  • Gorton, Gary, and Ellis W. Tallman. American Economic Review, American Economic Review, 106, no. 5 (n.d.): 528–32. https://doi.org/10.1257/aer.p20161043.
    • ID: 10.1257/aer.p20161043 (DOI)

Update Metadata: 2020-05-18 | Issue Number: 2 | Registration Date: 2019-10-12

Gorton, Gary; Tallman, Ellis W. (2016): Replication data for: Too Big to Fail before the Fed. Version: V0. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset. https://doi.org/10.3886/E113456