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From the Bank Panic of 1907 to the Great Depression of 1929 and the Savings and Loan Crisis of the 1980s: Lessons for the future

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  • Trompatzi, Georgia
  • Metaxas, Theodore

Abstract

This paper goes over three big crises with a global resonance which took place in the American economy during the 20th century. Namely, the Bank Panic of 1907, the Great Depression of 1929 and the Savings and Loan Crisis of the 1980s are examined. The paper lists the major events during the crises in question and probes the causes, consequences and ways through which each crisis was attempted to be encountered. Through this examination, useful lessons to be learned and fatal mistakes to be avoided arise.

Suggested Citation

  • Trompatzi, Georgia & Metaxas, Theodore, 2013. "From the Bank Panic of 1907 to the Great Depression of 1929 and the Savings and Loan Crisis of the 1980s: Lessons for the future," MPRA Paper 48272, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:48272
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    File URL: https://mpra.ub.uni-muenchen.de/48272/1/MPRA_paper_48272.pdf
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    References listed on IDEAS

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    1. Ellis W. Tallman, 2012. "The Panic of 1907," Working Papers (Old Series) 1228, Federal Reserve Bank of Cleveland.
    2. Claude DIEBOLT & Antoine PARENT & Jamel TRABELSI, 2012. "Revisiting the 1929 Crisis : Was the Fed Pre-Keynesian ? New Lessons from the Past," Historical Social Research (Section 'Cliometrics'), Association Française de Cliométrie (AFC), vol. 37(2), pages 280-297.
    3. Gary B. Gorton, 2010. "Questions and Answers about the Financial Crisis," NBER Working Papers 15787, National Bureau of Economic Research, Inc.
    4. Viral V. Acharya & Thomas Cooley & Matthew Richardson & Ingo Walter, 2011. "Market Failures and Regulatory Failures : Lessons from Past and Present Financial Crises," Finance Working Papers 23273, East Asian Bureau of Economic Research.
    5. Tallman, Ellis W & Wicker, Elmus R., 2009. "Banking and Financial Crises in United States History: What Guidance can History Offer Policymakers?," MPRA Paper 21839, University Library of Munich, Germany.
    6. V. V. Chari & Patrick J. Kehoe & Ellen R. McGrattan, 2003. "Accounting for the Great Depression," Quarterly Review, Federal Reserve Bank of Minneapolis, vol. 27(Spr), pages 2-8.
    7. Harold L. Cole & Lee E. Ohanian, 1999. "The Great Depression in the United States from a neoclassical perspective," Quarterly Review, Federal Reserve Bank of Minneapolis, vol. 23(Win), pages 2-24.
    8. Ellen R. McGrattan & Edward C. Prescott, 2001. "The Stock Market Crash of 1929: Irving Fisher Was Right!," NBER Working Papers 8622, National Bureau of Economic Research, Inc.
    9. Stephen Slivinski, 2008. "Opinion : Why the Great Depression matters," Econ Focus, Federal Reserve Bank of Richmond, vol. 12(Fall), pages 1-40.
    10. Christina D. Romer, 1988. "The Great Crash and the Onset of the Great Depression," NBER Working Papers 2639, National Bureau of Economic Research, Inc.
    11. Jon R. Moen & Ellis W. Tallman, 1990. "Lessons from the panic of 1907," Economic Review, Federal Reserve Bank of Atlanta, issue May, pages 2-13.
    12. Stephen G. Cecchetti, 1997. "Understanding the Great Depression: Lessons for Current Policy," NBER Working Papers 6015, National Bureau of Economic Research, Inc.
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    Cited by:

    1. METAXAS Theodore & NIKOU Rania, 2020. "Taxes In The Automotive And Telecommunications Industries Of The Usa: Evolution And Comparison With The European Union," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 20(2), pages 99-116.

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    More about this item

    Keywords

    Bank Panic; Global Economic Crisis; Great Depression; Savings and Loan Debacle;
    All these keywords.

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises

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