The Dynamics of a Financial Crisis: The Panic of 1907 and the Subprime Crisis

29 Pages Posted: 16 Jul 2009

See all articles by Robert F. Bruner

Robert F. Bruner

University of Virginia - Darden School of Business

Date Written: July 15, 2009

Abstract

This paper summarizes and compares the events associated with two financial crises separated by 100 years, occurring in 1907 and 2007-2009. The dynamics of both crises have much in common. The commonalities inform and enrich the theories and research on the dynamics of financial crises. And they caution investors and business executives in anticipation of future occurrences.

Keywords: financial crisis, panic, liquidity, bank runs, banking, capital markets, institutions

JEL Classification: B15, D74, D82, E44, E58, G20, G21, N100, N21, N81

Suggested Citation

Bruner, Robert F., The Dynamics of a Financial Crisis: The Panic of 1907 and the Subprime Crisis (July 15, 2009). Available at SSRN: https://ssrn.com/abstract=1434714 or http://dx.doi.org/10.2139/ssrn.1434714

Robert F. Bruner (Contact Author)

University of Virginia - Darden School of Business ( email )

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HOME PAGE: http://faculty.darden.edu/brunerb/

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