Information contagion and bank herding

Journal of Money, Credit and Banking

Volumn 40, Issue 1, 2008, Pages 215-231

  Acharya, Viral V ^a,b   Yorulmazer, Tanju ^c  

^a LONDON BUSINESS SCHOOL   (United Kingdom)

^b Centre for Economic Policy Research

^c FEDERAL RESERVE BANK OF NEW YORK   (United States)

Author keywords

Information spillover; Inter bank correlation; Systemic risk

Indexed keywords

EID: 38749139183     PISSN: 00222879     EISSN: None     Source Type: Journal    
DOI: 10.1111/j.1538-4616.2008.00110.x     Document Type: Short Survey

References (33)

1. Acharya, Viral 2001 A Theory of Systemic Risk and Design of Prudential Bank Regulation Working Paper, London Business School.
2. Acharya, Viral, and Tanju Yorulmazer 2007 Too-Many-To-Fail: An Analysis of Time-Inconsistency in Bank Closure Policies Journal of Financial Intermediation, 16, 1 31.
3. Acharya, Viral, and Tanju Yorulmazer Forthcoming Cash-in-the-Market Pricing and Optimal Resolution of Bank Failures Review of Financial Studies.
4. Aharony, Joseph, and Itzhak Swary 1983 Contagion Effects of Bank Failures: Evidence from Capital Markets Journal of Business, 56, 305 17.
5. Calomiris, Charles, and Gary Gorton 1991 The Origins of Banking Panics: Models, Facts, and Bank Regulation In Financial Markets and Financial Crises, edited by G. Hubbard, pp. 109 73. Chicago, IL : The University of Chicago Press.
6. Calomiris, Charles, and Joseph Mason 1997 Contagion and Bank Failures During the Great Depression: The June 1932 Chicago Banking Panic American Economic Review, 87, 863 83.
7. Calomiris, Charles, and Joseph Mason 2003 Consequences of U.S. Bank Distress During the Depression American Economic Review, 93, 937 47.
8. Carron, Andrew 1982 Financial Crises: Recent Experience in U.S. and International Markets Brookings Papers on Economic Activity, 2, 395 418.
9. Chen, Yehning 1999 Banking Panics: The Role of the First-Come, First-Served Rule and Information Externalities Journal of Political Economy, 107, 946 68.
10. Cooperman, Elizabeth, Winson Lee, and Glenn Wolfe 1992 The 1985 Ohio Thrift Crisis, the FSLIC's Solvency and Rate Contagion for Retail CDs Journal of Finance, 47, 919 41.
11. Covitz, Daniel, Diana Hancock, and Myron Kwast 2004 A Reconsideration of the Risk Sensitivity of U.S. Banking Organization Subordinated Debt Spreads: A Sample Selection Approach Federal Reserve Bank of New York Economic Policy Review, September, 73 95.
12. DeYoung, Robert, Mark Flannery, William Lang, and Sorin Sorescu 2001 The Information Content of Bank Exam Ratings and Subordinated Debt Prices Journal of Money, Credit and Banking, 33, 900 25.
13. Gondat-Larralde, Celine, and Erlend Nier 2006 Switching Costs in the Market for Personal Accounts: Some Evidence for the United Kingdom Bank of England Working Paper No. 292.
14. Gorton, Gary 1988 Banking Panics and Business Cycles Oxford Economic Papers, 40, 751 81.
15. Grossman, Richard 1993 The Macroeconomic Consequences of Bank Failures under the National Banking System Explorations in Economic History, 30, 294 320.
16. Hancock, Diana, and Myron Kwast 2001 Using Subordinated Debt to Monitor Bank Holding Companies: Is It Feasible Journal of Financial Services Research, 20, 147 87.
17. Hasan, Iftekhar, and Gerald Dwyer 1994 Bank Runs in the Free Banking Period Journal of Money, Credit and Banking, 26, 271 88.
18. Jagtiani, Julapa, George Kaufman, and Catherine Lemieux 2000 Do Markets Discipline Banks and Bank Holding Companies? Evidence from Debt Pricing Federal Reserve Bank of Chicago Emerging Issues Series, No: S&R-99-3R, June.
19. Jain, Arvind, and Satyadev Gupta 1987 Some Evidence on 'Herding' Behavior of U.S. Banks Journal of Money, Credit and Banking, 19, 78 89.
20. Jayanti, SV, and Ann Marie Whyte 1996 Global Contagion Effects of the Continental Illinois Failure Journal of International Financial Markets, Institutions and Money, 6, 87 99.
21. Kodres, Laura, and Matthew Pritsker 2002 A Rational Expectations Model of Financial Contagion Journal of Finance, 57, 769 99.
22. Lang, Larry, and Rene Stulz 1992 Contagion and Competitive Intra-Industry Effects of Bankruptcy Announcements Journal of Financial Economics, 32, 45 60.
23. Morgan, Donald, and Kevin J. Stiroh 1999 Bond Market Discipline of Banks: Is the Market Tough Enough Federal Reserve Bank of New York Staff Reports, 95.
24. Morgan, Donald, and Kevin J. Stiroh 2001 Market Discipline of Banks: The Asset Test Journal of Financial Services Research, 20, 195 208.
25. Rajan, Raghuram 1994 Why Bank Credit Policies Fluctuate: A Theory and Some Evidence Quarterly Journal of Economics, 109, 399 442.
26. Saunders, Anthony 1987 The Interbank Market, Contagion Effects and International Financial Crises In Threats to International Financial Stability, edited by R. Portes and A.K. Swoboda, pp. 196 232. New York : Cambridge University Press.
27. Saunders, Anthony, and Berry Wilson 1996 Contagious Bank Runs: Evidence from the 1929-1933 Period Journal of Financial Intermediation, 5, 409 23.
28. Scharfstein, David, and Jeremy Stein 1990 Herd Behavior and Investment American Economic Review, 80, 465 79.
29. Schoenmaker, Dirk 1996 Contagion Risk in Banking LSE. Financial Markets Group Discussion Paper No. 239, London : London School of Economics.
30. Schumacher, Liliana 2000 Bank Runs and Currency Run in a System without a Safety Net: Argentina and the 'Tequila' Shock Journal of Monetary Economics, 46, 257 77.
31. Slovin, Myron, Marie Sushka, and John Polonchek 1992 Information Externalities of Seasoned Equity Issues: Difference between Banks and Industrial Firms Journal of Financial Economics, 32, 87 101.
32. Slovin, Myron, Marie Sushka, and John Polonchek 1999 An Analysis of Contagion and Competitive Effects at Commercial Banks Journal of Financial Economics, 54, 197 225.
33. Swary, Itzhak 1986 Stock Market Reaction to Regulatory Action in the Continental Illinois Crisis Journal of Business, 59, 451 73.