Clearinghouses and the Origin of Central Banking in the United States
Bibliographic Data
| ID | 10099409 |
|---|---|
| Authors | Gary Gorton (0000-0002-5317-3752, University of Pennsylvania, corresponding author) |
| Year | 1985 |
| Volume | 45 |
| Issue | 2 |
| Pages | 277-283 |
| Publication date | 1985-06-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Journal of Economic History (JOURNAL) |
| Journal identifiers | ISSN: 0022-0507 • E-ISSN: 1471-6372 |
| Publisher | Cambridge University Press (CUP) (PUBLISHER) |
| DOI | 10.1017/s0022050700033957 |
| OpenAlex | W2159854176 |
| Language | EN |
| Citations received | 33 |
| References cited | 3 |
The pre-1914 U.S. banking industry is not easily characterized as a market operating through a price system. The endogenous development of the clearinghouse as the industry's organizing institution can be explained by inherent characteristics of demand deposits. During banking panics the clearinghouse united banks into an organization resembling a single firm which produced deposit insurance
Banking industry · Business · Commerce · Commercial banking · Deposit insurance · Financial system · Institution · Political science · Retail banking · Banking stability, regulation, efficiency · Economic Theory and Policy · Economic, financial, and policy analysis
Lender of Last Resort
Bank Failures, The Great Depression, and Other “Contagious” Events
Securitized banking and the run on repo
Wall Street and Main Street
Clearinghouse membership and deposit contraction during the Panic of 1893
Les banques centrales et l’État-nation
Entry, Rivalry and Free Banking in Antebellum America
Le prêt en dernier ressort. Les chambres de compensation aux États-Unis durant le XIXe siècle
Why didn't Canada have a banking crisis in 2008 (or in 1930, or 1907, or …)
The National Banking Acts and the Transformation of New York City Banking During the Civil War Era
Clearinghouse Membership and Deposit Contraction during the Panic of 1907
Interbank organization and central banking
Is there a self-enforcing monetary constitution
Banks and Banking in the Early American Republic
Understanding Central Bank Independence
Stabilizing A Keynes-Minsky Model of Financial Fragility
The Value of Ratings
Economic Effects of Runs on Early “Shadow Banks”
Counterparty Risk and the Establishment of the New York Stock Exchange Clearinghouse
The Bank Panic of 1907
The Shoe That Didn't Drop
Is Deposit Insurance Necessary? A Historical Perspective
Explorations in monetary history
How were the Federal Reserve Bank locations selected
Goldsmith-Banking
Monitoring, reputation and accountability in issuing banks in mid-nineteenth-century Spain
Interest Groups and Central Bank Credit Policies
Le prêt en dernier ressort
Why Join the Fed
Early Warnings of the Hazards of Federal Deposit Insurance at the Time of Its Inception
Complementary Non-Quantity Theory Approaches to Money
The Federal Reserve and Panic Prevention
Supervision without regulation
| Unique citing works | 33 |
|---|---|
| Citations per year | 0,82 |
| Citation span | 1986 - 2025 (40) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 33 |