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Are Bank Runs Contagious?

By  and Ted Temzelides and Ted Temzelides

Abstract

Banks are a vital part of the economy because they provide an important channel through which many businesses get their financing. However, as we know from the history of the United States and other countries, banks can be subject to runs and panics. A panic that encompasses a large part of the banking system can seriously disrupt economic activity. During a run, a bank experiences much heavier demand for deposit withdrawals than it can easily meet. If the run is severe enough, the bank will not be able to meet the demands *When this article was written, Ted Temzelides was an economist in the Research Department of the Philadelphi

Year: 2011
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