The seasonality of banking failures during the late National Banking Era

Pedro Gomis-Porqueras and Bruce Smith

Canadian Journal of Economics, 2006, vol. 39, issue 1, 296-319

Abstract: In this paper, we expand previous models with banks and money and explore the consequences of seasonals in the banking system. We find that, when bank failures occur, not all of them have associated large output losses and currency premiums exist. We show that the most important sources of seasonal fluctuations for the banking system are those related to the return on farming activities and the scrapping value of the initial investment. Finally, this model is consistent with the notion that the Treasury is more likely to accommodate the money market in periods where the liquidity needs are higher.

JEL-codes: E50 F41 (search for similar items in EconPapers)
Date: 2006
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Citations: View citations in EconPapers (3)

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