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The Start of a Panic

Gary B. Gorton and Ellis W. Tallman

in Fighting Financial Crises: Learning from the Past

Published in print:
2018
Published Online:
May 2019
ISBN:
9780226479514
eISBN:
9780226479651
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226479651.003.0003
Subject:
Economics and Finance, Macro- and Monetary Economics

The start of a financial crisis is chaotic and it initially is not clear that the events constitute a crisis. If there are bank runs, banks suspend convertibility, that is they do not honor demands ... More


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