Replication data for: A New History of Banking Panics in the United States, 1825-1929: Construction and Implications
Principal Investigator(s): View help for Principal Investigator(s) Andrew J. Jalil
Version: View help for Version V1
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data | 10/25/2021 01:06:PM | ||
LICENSE.txt | text/plain | 14.6 KB | 10/12/2019 03:28:PM |
Project Citation:
Jalil, Andrew J. Replication data for: A New History of Banking Panics in the United States, 1825-1929: Construction and Implications. Nashville, TN: American Economic Association [publisher], 2015. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E114077V1
Project Description
Summary:
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There are two major problems in identifying the output effects of banking panics of the pre-Great Depression era. First, it is not clear when panics occurred because prior panic series differ in their identification of panic episodes. Second, establishing the direction of causality is tricky. This paper addresses these two problems (i) by deriving a new panic series for the 1825-1929 period and (ii) by studying the output effects of major banking panics via vector autoregression (VAR) and narrative-based methods. The new series has important implications for the history of financial panics in the United States. (JEL E32, E44, G21, N11, N12, N21, N22)
Scope of Project
Subject Terms:
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Banking Panics;
Historical Crises
JEL Classification:
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E32 Business Fluctuations; Cycles
E44 Financial Markets and the Macroeconomy
G21 Banks; Depository Institutions; Micro Finance Institutions; Mortgages
N11 Economic History: Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations: U.S.; Canada: Pre-1913
N12 Economic History: Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations: U.S.; Canada: 1913-
N21 Economic History: Financial Markets and Institutions: U.S.; Canada: Pre-1913
N22 Economic History: Financial Markets and Institutions: U.S.; Canada: 1913-
E32 Business Fluctuations; Cycles
E44 Financial Markets and the Macroeconomy
G21 Banks; Depository Institutions; Micro Finance Institutions; Mortgages
N11 Economic History: Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations: U.S.; Canada: Pre-1913
N12 Economic History: Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations: U.S.; Canada: 1913-
N21 Economic History: Financial Markets and Institutions: U.S.; Canada: Pre-1913
N22 Economic History: Financial Markets and Institutions: U.S.; Canada: 1913-
Geographic Coverage:
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United States
Time Period(s):
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1825 – 1929
Data Type(s):
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aggregate data
Collection Notes:
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N?A
Methodology
Data Source:
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Historical issues of three newspapers: Niles Register, Hunts' Merchants Magazine and Commercial Review, and Commercial and Ficial Chronicle. Davis, Joseph H. 2004. "An Annual Index of U.S. Industrial Production, 1790-1915." Quarterly Journal of Economics, 119(4): 1177-1215. Long, Clarence D. 1940. Building Cycles and the Theory of Investment. Princeton: Princeton University Press.
Unit(s) of Observation:
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Banking Panics,
Yearly,
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