Flight-to-safety and the credit crunch: A new history of the banking crisis in France during the Great Depression - Archive ouverte HAL
Article De Blog Scientifique Année : 2018

Flight-to-safety and the credit crunch: A new history of the banking crisis in France during the Great Depression

Stefano Ungaro
  • Fonction : Auteur
Eric Monnet
Angelo Riva

Résumé

Previous research has downplayed the role of banking panics and financial factors in the French Great Depression. This column uses a newly assembled dataset of balance sheets for more than 400 French banks from the interwar period to challenge this long-held idea. The empirical results show two dramatic waves of panic in 1930 and 1931, and point to a flight-to-safety mechanism. The findings illustrate how minor macroeconomic assumptions and extrapolations on monetary statistics can introduce large, persistent biases in historiography.
Fichier non déposé

Dates et versions

hal-04147416 , version 1 (30-06-2023)

Identifiants

  • HAL Id : hal-04147416 , version 1

Citer

Stefano Ungaro, Eric Monnet, Angelo Riva, Patrice Baubeau. Flight-to-safety and the credit crunch: A new history of the banking crisis in France during the Great Depression. 2018. ⟨hal-04147416⟩
23 Consultations
0 Téléchargements

Partager

More