The Great Depression and Other ‘Contagious’ Events

@inproceedings{Calomiris2012TheGD,
  title={The Great Depression and Other ‘Contagious’ Events},
  author={Charles W. Calomiris},
  year={2012}
}
Introduction CONCERNS about the susceptibility of banks to unwarranted w ithdrawals of deposits during panics, the possibility of bank failures, an d contractions of bank credit resulting from unwarranted withdrawals of deposits (which is somet i s described as the result of ‘contagious’ weakness among banks) and the attendan t adverse macroeconomic consequences of bank disappearance or bank balance sheet contraction have motivated much of the public policies toward banks. The global fin ancial… 
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