[go: up one dir, main page]
IDEAS home Printed from https://ideas.repec.org/p/snb/snbwpa/2024-07.html
   My bibliography  Save this paper

Evidence on the international financial spillovers of the New York Bankers' Panic of 1907

Author

Listed:
  • Dr. Thomas Nitschka
Abstract
Using a unique dataset of daily returns on all Swiss stocks traded on the Zurich exchange, I use event study methods to show that the New York Bankers' Panic of 1907 affected foreign stock markets earlier than previous studies of the international spillovers of this crisis suggest. Moreover, the spillovers were confined to banks' stocks and did not significantly influence returns on Swiss firms' stocks from other sectors. Key events, such as the news about the bankruptcy of the Knickerbocker Trust or announcements of the Bank of England, coincided with significant abnormal daily returns on Swiss banks' stocks.

Suggested Citation

  • Dr. Thomas Nitschka, 2024. "Evidence on the international financial spillovers of the New York Bankers' Panic of 1907," Working Papers 2024-07, Swiss National Bank.
    • Handle: RePEc:snb:snbwpa:2024-07
    as

    Download full text from publisher

    File URL: https://www.snb.ch/en/publications/research/working-papers/2024/working_paper_2024_07
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    Banks; Crisis; International spillover; Panic of 1907; Stocks;
    All these keywords.

    JEL classification:

    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • N20 - Economic History - - Financial Markets and Institutions - - - General, International, or Comparative

    NEP fields

    This paper has been announced in the following NEP Reports:

    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:snb:snbwpa:2024-07. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: Enzo Rossi (email available below). General contact details of provider: https://edirc.repec.org/data/snbgvch.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.