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Start Over Topic banking industry Topic economics Publication Type Reports Publisher board of governors of the federal reserve system
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1. The Credibility of Exchange Rate Pegs and Bank Distress in Historical Perspective: Lessons from the National Banking Era.

Author

Fulford, Scott and Schwartzman, Felipe

Subjects
GOLD, FINANCIAL leverage, FOREIGN exchange rates, BANKING industry, BANK deposits, ECONOMICS
Abstract

In this article, the author examines the effect of gold standards during 1800s in the U.S. bank balance sheets. He states that an increase in bank leverage was associated with the presidential elections in the U.S. impacting the commitment to paying deposits by the banks. He further states the modern view of exchange rate pegging works in more credible manner.

Published
2013