Replication data for: Interbank Markets and Banking Crises: New Evidence on the Establishment and Impact of the Federal Reserve

Principal Investigator(s): View help for Principal Investigator(s) Mark Carlson; David C. Wheelock

Name	File Type	Size	Last Modified
EntirePeriod_RC_AEA.csv	text/plain	519 KB	10/12/2019 07:03:AM
EntirePeriod_states_AEA.csv	text/plain	1.2 MB	10/12/2019 07:03:AM
LICENSE.txt	text/plain	14.6 KB	10/12/2019 07:03:AM
Readme_CarlsonWheelock.pdf	application/pdf	12.6 KB	10/12/2019 07:03:AM
Readme_CarlsonWheelock.txt	text/plain	2.6 KB	10/12/2019 07:03:AM
States_GYprep_AEA.R	text/plain	15.6 KB	10/12/2019 07:03:AM
pc_rcities_grw_aea.R	text/plain	8.3 KB	10/12/2019 07:03:AM
pc_states_grw_aea.R	text/plain	14.4 KB	10/12/2019 07:03:AM
rc_GYprep_aea.R	text/plain	7.9 KB	10/12/2019 07:03:AM

Project Citation:

Carlson, Mark, and Wheelock, David C. Replication data for: Interbank Markets and Banking Crises: New Evidence on the Establishment and Impact of the Federal Reserve. Nashville, TN: American Economic Association [publisher], 2016. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E113457V1

Project Description

Summary: This paper examines the impact of the Federal Reserve's founding on seasonal pressures and contagion risk in the interbank system. Deposit flows among classes of banks were highly seasonal before 1914; amplitude and timing varied regionally. Panics interrupted normal flows as banks throughout the country sought funds from the central money markets simultaneously. Seasonal pressures and contagion risk in the system were lower by the 1920s, when the Fed provided seasonal liquidity and reserves. Panics returned in the 1930s, due in part to shocks from nonmember banks and because the Fed's decentralized structure hampered a vigorous response to national crises.

Scope of Project

Subject Terms: interbank markets; banking crises; Federal Reserve

JEL Classification:
      E32 Business Fluctuations; Cycles
      E44 Financial Markets and the Macroeconomy
      E58 Central Banks and Their Policies
      G01 Financial Crises
      G21 Banks; Depository Institutions; Micro Finance Institutions; Mortgages
      G28 Financial Institutions and Services: Government Policy and Regulation
      N22 Economic History: Financial Markets and Institutions: U.S.; Canada: 1913-

Geographic Coverage: United States

Time Period(s): 1/1/1890 – 12/31/1933

Universe: U.S. national banks aggregated at the level of cities and states

Data Type(s): aggregate data

Methodology

Data Source: Annual reports of the Office of the Comptroller of the Currency

Unit(s) of Observation: cities, states,

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Published Versions

V1 [2019-10-12]

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