Skip to main content Accessibility help
×
Hostname: page-component-cd9895bd7-dk4vv Total loading time: 0 Render date: 2024-12-26T08:03:33.343Z Has data issue: false hasContentIssue false

7 - Protecting Financial Stability in the Aftermath of World War I: The Federal Reserve Bank of Atlanta’s Dissenting Policy

Published online by Cambridge University Press:  06 October 2017

Peter L. Rousseau
Affiliation:
Vanderbilt University, Tennessee
Paul Wachtel
Affiliation:
Stern School of Business, New York University
Get access

Summary

Image of the first page of this content. For PDF version, please use the ‘Save PDF’ preceeding this image.'
Type
Chapter
Information
Financial Systems and Economic Growth
Credit, Crises, and Regulation from the 19th Century to the Present
, pp. 201 - 231
Publisher: Cambridge University Press
Print publication year: 2017

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Allen, Franklin, Carletti, Elena, and Gale, Douglas. (2009). “Interbank Market Liquidity and Central Bank Intervention.” Journal of Monetary Economics 56(5):639652.CrossRefGoogle Scholar
Bagehot, Walter. (1873). Lombard Street: A Description of the Money Market. London: Henry S. King and Co.Google Scholar
Board of Governors of the Federal Reserve System. (1922, January). Federal Reserve Bulletin.Google Scholar
Board of Governors of the Federal Reserve System. (1943). Banking and Monetary Statistics, 1914–1941. Washington, DC.Google Scholar
Bordo, Michael D., and Wheelock, David C.. (2013). “The Promise and Performance of the Federal Reserve as a Lender of Last Resort, 1914–1933.” In Bordo, M. D. and Roberds, W. (eds.), A Return to Jekyll Island: The Origins, History and Future of the Federal Reserve, pp. 5998. Cambridge: Cambridge University Press.Google Scholar
Caballero, Ricardo J., and Simsek, Alp. (2013). “Fire Sales in a Model of Complexity.” Journal of Finance 68(6):25492587.CrossRefGoogle Scholar
Calomiris, Charles A., and White, Eugene N.. (1994). “The Origins of Federal Deposit Insurance.” In Goldin, C. and Libecap, G. D. (eds.), The Regulated Economy: A Historical Approach to Political Economy, pp. 145–88. Chicago: University of Chicago Press.Google Scholar
Carlson, Mark, Mitchener, Kris James, and Richardson, Gary. (2011). “Arresting Banking Panics: Fed Liquidity Provision and the Forgotten Panic of 1929.” Journal of Political Economy 119(5):889924.CrossRefGoogle Scholar
Chandler, Lester V. (1958). Benjamin Strong, Central Banker. Washington, DC: Brookings Institution.Google Scholar
Diamond, Douglas W., and Rajan, Raghuram G. (2011). “Fear of Fire Sales, Illiquidity Seeking and Credit Freezes.” Quarterly Journal of Economics 126(2):557591.Google Scholar
Eichengreen, Barry, Mehl, Arnaud J., Chitu, Livia, and Richardson, Gary. (2014). “Mutual Assistance between Federal Reserve Banks, 1913–1960.” Working Paper No. 20267, National Bureau of Economic Research.Google Scholar
Federal Reserve Act (1915). “An Act To provide for the establishment of Federal reserve banks, to furnish an elastic currency, to afford means of rediscounting commercial paper, to establish a more effective supervision of banking in the United States, and for other purposes,” (December 23, 1913), The Statues at Large of the United States, vol. XXXVIII. Washington, DC.Google Scholar
Federal Reserve Bank of Atlanta. (1919, 1920, 1921). Annual Report. Atlanta.Google Scholar
Federal Reserve Bank of Atlanta. Office of the Secretary, Board of Directors, minutes.Google Scholar
Federal Reserve Bank of Atlanta. Office of the Secretary, Executive Committee of the Board of Directors, minutes.Google Scholar
Federal Reserve Bank of Atlanta. Library, daily consolidated balance sheets.Google Scholar
Federal Reserve Board. (1919, 1920, 1921, 1922). Annual Report. Washington, DC.Google Scholar
Freixas, Xavier, and Parigi, Bruno M. (2014). “Lender of Last Resort and Bank Closure Policy.” In Berger, A. N., Molyneux, P., and Wilson, J. O. S. (eds.), The Oxford Handbook of Banking, 2nd edition, pp. 475504. Oxford: Oxford University Press.Google Scholar
Freixas, Xavier, Parigi, Bruno M., and Rochet, Jean-Charles. (2000). “Systemic Risk, Interbank Relations and Liquidity Provision by the Central Bank.” Journal of Money, Credit and Banking 32(2):611638.Google Scholar
Friedman, Milton, and Schwartz, Anna J.. (1963). A Monetary History of the United States 1867–1960. Princeton, NJ: Princeton University Press.Google Scholar
Gamble, Richard H. (1989). A History of the Federal Reserve Bank of Atlanta, 1914–1989. Atlanta, GA: Federal Reserve Bank of Atlanta. Retrieved from www.frbatlanta.org/about/publications/atlanta-fed-history/first-75-years/the-bank-meets-its-first-crisis.aspx.Google Scholar
Garrett, Franklin. (n.d.). “History of the Federal Reserve Bank of Atlanta.” Archives of the Federal Reserve Bank of Atlanta, unpublished.Google Scholar
Harding, W. P. G. (1925). The Formative Period of the Federal Reserve System. London: Constable and Company Ltd.Google Scholar
Hautcoeur, Pierre-Cyrille, Riva, Angelo, and White, Eugene N.. (2014). “Floating a ‘Lifeboat’: The Banque de France and the Crisis of 1889.” Journal of Monetary Economics 65(July):104119.CrossRefGoogle Scholar
Joint Commission of Agricultural Inquiry. (1921). Hearings Before the Joint Commission of Agricultural Inquiry, Sixty-Seventh Congress, First Session, 3 vols. (July, August, and November). Washington, DC: Government Printing Office.Google Scholar
Measuring Worth, Consumer Price Index. (2014). Retrieved from www.measuringworth.com/uscpi/.Google Scholar
Meltzer, Allan H. (2003). A History of the Federal Reserve, Vol. I, 1913–1955. Chicago: University of Chicago Press.Google Scholar
Mishkin, Frederic S., and White, Eugene N.. (2014). “Unprecedented Actions: The Federal Reserve’s Response to the Global Financial Crisis in Historical Perspective.” Working Paper No. 20737, National Bureau of Economic Research.CrossRefGoogle Scholar
Moen, Jon, and Tallman, Ellis W.. (1992). “The Bank Panic of 1907: The Role of the Trust Companies.” Journal of Economic History 52(3): 611630.CrossRefGoogle Scholar
National Bureau of Economic Research. (n.d.). U.S. Business Cycle Expansions and Contractions. Retrieved from http://nber.org/cycles/cyclesmain.html.Google Scholar
National Bureau of Economic Research. (2008). Macro History IV. Prices. New York Wholesale Price of Cotton, 1870–1945. Retrieved from www.nber.org/databases/macrohistory/contents/chapter04.html.Google Scholar
Richardson, Gary, and Troost, William. (2009). “Monetary Intervention Mitigated Banking Panics during the Great Depression: Quasi-Experimental Evidence from a Federal Reserve District Border, 1929–1933.” Journal of Political Economy 117(6):10311073.CrossRefGoogle Scholar
Shleifer, Andrei, and Vishny, Robert W.. (2010). “Asset Fire Sales and Credit Easing.” American Economic Review 100(2):4650.CrossRefGoogle Scholar
Shleifer, Andrei, and Vishny, Robert W.. (2011). “Fire Sales in Finance and Macroeconomics.” Journal of Economic Perspectives 25(1):2948.Google Scholar
White, Eugene N. (2013). “To Establish a More Effective Supervision of Banking: How the Birth of the Fed Altered Bank Supervision.” In Bordo, M. D. and Roberds, W., The Origins, History and Future of the Federal Reserve: A Return to Jekyll Island, pp. 754. Cambridge: Cambridge University Press.CrossRefGoogle Scholar

Save book to Kindle

To save this book to your Kindle, first ensure no-reply@cambridge.org is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

Available formats
×