Abstract

http://ssrn.com/abstract=1987092
 
 

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Las Crisis Bancarias y el Sistema Monetario Internacional en la Gran Depresión y en la Actualidad (Banking Crises and the International Monetary System in the Great Depression and Now)


Richhild Moessner


De Nederlandsche Bank

William A. Allen


City University London - Sir John Cass Business School

2011

Revista de Economia Institucional, Vol. 13, No. 25, p. 13, 2011

Abstract:     
We identify similarities and differences in the scale and nature of the banking crises in 2008-2009 and the Great Depression, and analyse differences in the policy response to the two crises in light of the prevailing international monetary systems. We find that the scale of the banking crisis, as measured by falls in international short-term indebtedness and total bank deposits, was smaller in 2008-2009 than in 1931. However, central bank liquidity provision was larger in the flexible exchange rate environment of 2008-2009 than in 1931, when it had been constrained in many countries by the gold standard.

Note: Downloadable document is in Spanish.

Number of Pages in PDF File: 45

Keywords: banking crises, International Monetary System, liquidity, Great Depression, central bank

JEL Classification: E58, F33, N1

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Date posted: January 18, 2012  

Suggested Citation

Moessner, Richhild and Allen, William A., Las Crisis Bancarias y el Sistema Monetario Internacional en la Gran Depresión y en la Actualidad (Banking Crises and the International Monetary System in the Great Depression and Now) (2011). Revista de Economia Institucional, Vol. 13, No. 25, p. 13, 2011. Available at SSRN: http://ssrn.com/abstract=1987092

Contact Information

Richhild Moessner (Contact Author)
De Nederlandsche Bank ( email )
PO Box 98
1000 AB Amsterdam
Amsterdam, 1000 AB
Netherlands
William A. Allen
City University London - Sir John Cass Business School ( email )
106 Bunhill Row
London, EC1Y 8TZ
United Kingdom
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