[go: up one dir, main page]
IDEAS home Printed from https://ideas.repec.org/a/fip/fedcer/y1992iqivp22-35nv.28no.4.html
   My bibliography  Save this article

History of and rationales for the Reconstruction Finance Corporation

Author

Listed:
  • Walker F. Todd
Abstract
An analysis of the lessons learned from the 1930s financial rescue mechanism, the Reconstruction Finance Corporation, and a comparison of its structure to that of today's Resolution Trust Corporation.

Suggested Citation

  • Walker F. Todd, 1992. "History of and rationales for the Reconstruction Finance Corporation," Economic Review, Federal Reserve Bank of Cleveland, vol. 28(Q IV), pages 22-35.
    • Handle: RePEc:fip:fedcer:y:1992:i:qiv:p:22-35:n:v.28no.4
    as

    Download full text from publisher

    File URL: http://www.clevelandfed.org/Research/Review/1992/92-q4-todd.pdf
    Download Restriction: no
    File URL: https://fraser.stlouisfed.org/scribd/?toc_id=120317&filepath=/docs/publications/frbclevreview/rev_frbclev_1992q4.pdf&start_page=23#scribd-open
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. William R. Keeton, 1992. "The Reconstruction Finance Corporation: would it work today?," Economic Review, Federal Reserve Bank of Kansas City, vol. 77(Q I), pages 33-54.
    2. George G. Kaufman, 1992. "Bank contagion: theory and evidence," Working Paper Series, Issues in Financial Regulation 92-13, Federal Reserve Bank of Chicago.
    3. Walker F. Todd, 1988. "Lessons of the past and prospects for the future in lender of last resort theory," Working Papers (Old Series) 8805, Federal Reserve Bank of Cleveland.
    4. Ronnie Phillips, 1992. "The 'Chicago Plan' and New Deal Banking Reform," Economics Working Paper Archive wp_76, Levy Economics Institute.
    5. Walker F. Todd, 1988. "Lessons of the past and prospects for the future in lender of last resort theory," Proceedings 215, Federal Reserve Bank of Chicago.
    6. Christopher J. Pike & James B. Thomson, 1991. "The RTC and the escalating costs of the thrift insurance mess," Economic Commentary, Federal Reserve Bank of Cleveland, issue May.
    7. Butkiewicz James L., 1995. "The Impact of a Lender of Last Resort during the Great Depression: The Case of the Reconstruction Finance Corporation," Explorations in Economic History, Elsevier, vol. 32(2), pages 197-216, April.
    8. Beryl Wayne Sprinkel, 1952. "Economic Consequences of the Operations of the Reconstruction Finance Corporation," The Journal of Business, University of Chicago Press, vol. 25, pages 211-211.
    9. Anna J. Schwartz, 1992. "The misuse of the Fed's discount window," Review, Federal Reserve Bank of St. Louis, issue Sep, pages 58-69.
    10. Alan Greenspan, 1989. "Statement by Alan Greenspan," Journal of Applied Corporate Finance, Morgan Stanley, vol. 2(1), pages 31-34, March.
    11. Charles W. Calomiris, 1993. "Financial Factors in the Great Depression," Journal of Economic Perspectives, American Economic Association, vol. 7(2), pages 61-85, Spring.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Ben R. Craig & William E. Jackson & James B. Thomson, 2007. "On government intervention in the small-firm credit market and its effect on economic performance," Working Papers (Old Series) 0702, Federal Reserve Bank of Cleveland.
    2. Gary Gorton & Andrew Metrick, 2013. "The Federal Reserve and Panic Prevention: The Roles of Financial Regulation and Lender of Last Resort," Journal of Economic Perspectives, American Economic Association, vol. 27(4), pages 45-64, Fall.
    3. Torres, Ernani & Zeidan, Rodrigo, 2016. "The life-cycle of national development banks: The experience of Brazil's BNDES," The Quarterly Review of Economics and Finance, Elsevier, vol. 62(C), pages 97-104.
    4. Gary Gorton & Lixin Huang, 2004. "Liquidity, Efficiency, and Bank Bailouts," American Economic Review, American Economic Association, vol. 94(3), pages 455-483, June.
    5. Josh Ryan-Collins & Frank van Lerven, 2018. "Bringing the helicopter to ground: a historical review of fiscal-monetary coordination to support economic growth in the 20th century," Working Papers PKWP1810, Post Keynesian Economics Society (PKES).
    6. Rockoff, Hugh, 2022. "Milton Friedman on bailouts," Journal of Financial Stability, Elsevier, vol. 63(C).
    7. Duca, John V., 2017. "The Great Depression versus the Great Recession in the U.S.: How fiscal, monetary, and financial polices compare," Journal of Economic Dynamics and Control, Elsevier, vol. 81(C), pages 50-64.
    8. Ben Craig & William Jackson & James Thomson, 2008. "Credit market failure intervention: Do government sponsored small business credit programs enrich poorer areas?," Small Business Economics, Springer, vol. 30(4), pages 345-360, April.
    9. Ben R. Craig & William E. Jackson & James B. Thomson, 2006. "Small firm credit market discrimination, SBA-guaranteed lending, and local market economic performance," Working Papers (Old Series) 0613, Federal Reserve Bank of Cleveland.
    10. William James Adams & Ben R. Craig & James B. Thompson, 2006. "Does Small Business Administration guaranteed lending improve economic performance in lowincome areas?," Proceedings: Community Affairs Dept. Conferences, Federal Reserve Bank of Kansas City, issue Jul, pages 55-85.
    11. Lawson, Aidan, 2021. "US Reconstruction Finance Corporation: Preferred Stock Purchase Program," Journal of Financial Crises, Yale Program on Financial Stability (YPFS), vol. 3(3), pages 738-785, April.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Walker F. Todd, 1992. "FDICIA's discount window provisions," Economic Commentary, Federal Reserve Bank of Cleveland, issue Dec.
    2. Walker F. Todd, 1993. "FDICIA's emergency liquidity provisions," Economic Review, Federal Reserve Bank of Cleveland, vol. 29(Q III), pages 16-23.
    3. James B. Thomson, 2010. "Cleaning up the refuse from a financial crisis: the case for a resolution management corporation," Working Papers (Old Series) 1015, Federal Reserve Bank of Cleveland.
    4. Gilbert, R. Alton, 1995. "Determinants of Federal Reserve lending to failed banks," Journal of Economics and Business, Elsevier, vol. 47(5), pages 397-408, December.
    5. Robert L. Hetzel, 1991. "Too big to fail : origins, consequences, and outlook," Economic Review, Federal Reserve Bank of Richmond, vol. 77(Nov), pages 3-15.
    6. Joseph G. Haubrich & James B. Thomson, 1994. "A conference on federal credit allocation," Economic Review, Federal Reserve Bank of Cleveland, vol. 30(Q III), pages 2-13.
    7. James B. Thomson & Walker F. Todd, 1990. "An insider's view of the political economy of the too big to fail doctrine," Working Papers (Old Series) 9017, Federal Reserve Bank of Cleveland.
    8. Josh Ryan-Collins, 2015. "Is Monetary Financing Inflationary? A Case Study of the Canadian Economy, 1935-75," Economics Working Paper Archive wp_848, Levy Economics Institute.
    9. Benmelech, Efraim & Frydman, Carola & Papanikolaou, Dimitris, 2019. "Financial frictions and employment during the Great Depression," Journal of Financial Economics, Elsevier, vol. 133(3), pages 541-563.
    10. Joseph Mason, 2001. "Do Lender of Last Resort Policies Matter? The Effects of Reconstruction Finance Corporation Assistance to Banks During the Great Depression," Journal of Financial Services Research, Springer;Western Finance Association, vol. 20(1), pages 77-95, September.
    11. Winkler, Adalbert, 2013. "Der lender of last resort vor Gericht," Frankfurt School - Working Paper Series 206, Frankfurt School of Finance and Management.
    12. Mervyn Allister King, 1993. "Debt Deflation: Theory and Evidence," FMG Discussion Papers dp175, Financial Markets Group.
    13. Hautcoeur, Pierre-Cyrille & Riva, Angelo & White, Eugene N., 2014. "Floating a “lifeboat”: The Banque de France and the crisis of 1889," Journal of Monetary Economics, Elsevier, vol. 65(C), pages 104-119.
    14. Davison, Lee K. & Ramirez, Carlos D., 2014. "Local banking panics of the 1920s: Identification and determinants," Journal of Monetary Economics, Elsevier, vol. 66(C), pages 164-177.
    15. Torres, Ernani & Zeidan, Rodrigo, 2016. "The life-cycle of national development banks: The experience of Brazil's BNDES," The Quarterly Review of Economics and Finance, Elsevier, vol. 62(C), pages 97-104.
    16. Sebastian Doerr & Stefan Gissler & José‐Luis Peydró & Hans‐Joachim Voth, 2022. "Financial Crises and Political Radicalization: How Failing Banks Paved Hitler's Path to Power," Journal of Finance, American Finance Association, vol. 77(6), pages 3339-3372, December.
    17. Bernanke, Ben S, 1995. "The Macroeconomics of the Great Depression: A Comparative Approach," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 27(1), pages 1-28, February.
    18. Charles W. Calomiris & Stephen H. Haber, 2014. "Interest Groups and the Glass-Steagall Act," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 11(04), pages 14-18, January.
    19. Sebastian Doerr & Stefan Gissler & José-Luis Peydró & Hans-Joachim Voth, 2018. "From finance to fascism," Economics Working Papers 1651, Department of Economics and Business, Universitat Pompeu Fabra, revised Nov 2020.
    20. Patrizio Lainà, 2015. "Proposals for Full-Reserve Banking: A Historical Survey from David Ricardo to Martin Wolf," Economic Thought, World Economics Association, vol. 4(2), pages 1-1, September.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fip:fedcer:y:1992:i:qiv:p:22-35:n:v.28no.4. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: 4D Library (email available below). General contact details of provider: https://edirc.repec.org/data/frbclus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.