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- W2006672937 abstract "The Sherman Silver Purchase Act of 1890 led to inflation fears and a series of flights from the dollar. In spite of these runs, the dollar was never devalued. The question remains: why? Grilli (1990) argues that it was the Treasury's ability to borrow that prevented collapse. While this explains why the gold standard endured from 1894 to 1896, it does not explain why there was no successful attack before that time. The paper argues that the gold standard endured during 1893 because an internal drain of commercial bank funds stopped the external drain. A revised series of collapse probabilities is provided and shown to be zero during the internal drain." @default.
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- W2006672937 title "Exchange rate crises with domestic bank runs: evidence from the 1980s" @default.
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- W2006672937 doi "https://doi.org/10.1016/0261-5606(96)00025-3" @default.
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