2022
DOI: 10.1111/jmcb.12937
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Liquidity Requirements, Free‐Riding, and the Implications for Financial Stability Evidence from the Early 1900s

Abstract: We thank Ellis Tallman and David Wheelock for valuable comments. The views expressed in this paper are solely those of the authors and do not necessarily reflect those of the Board of Governors of the Federal Reserve or its staff. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.NBER working papers are circulated for discussion and comment purposes. They have not been peerreviewed or been subject to the review by the NBER B… Show more

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