Quarterly Journal of Austrian Economics
Author:
Mary Tone Rodgers
Berry K. Wilson
Online Publish Date:
Volume 14, Number 2; Summer 2011 This paper investigates the potential systemic risks posed to the U.S. securities markets by the banking crisis during the Panic of 1907. Past studies of 1907 have focused almost exclusively on the banking crisis. Our study examines the mechanisms that minimized the spillover of the banking crisis, and allowed