Market Contagion: Evidence from the Panics of 1854 and 1857
Morgan Kelly and
Authors registered in the RePEc Author Service: Cormac Ó Gráda ()
Working Papers from College Dublin, Department of Political Economy-
To test a model of contagion -where individuals hear some bad news and communicate it to their acquaintances, who pass it on in turn, leading to a market panic- requires a knowledge of the information networks of market participants, something hitherto unavailable. For two panics in the 1850s this paper examines the bahaviour of Irish depositors in a New York bank.
Keywords: BANKS; FINANCIAL MARKET; ECONOMIC HISTORY (search for similar items in EconPapers)
JEL-codes: G21 N21 (search for similar items in EconPapers)
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Journal Article: Market Contagion: Evidence from the Panics of 1854 and 1857 (2000)
Working Paper: Market contagion: evidence from the panics of 1854 and 1857 (2000)
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Persistent link: https://EconPapers.repec.org/RePEc:fth:dublec:99/19
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