... Ben S. and James, Harold (1991). “The Gold Standard, Deflation, and Financial Crisis in the Great Depression: An International Comparison.” In R. Glenn Hubbard, ed., Financial Markets and Financial ... become importantly de-linked from local, regional, and national economic conditions and from fundamentals relating to individual bank structure and performance. Second, the timing of this observed ... Bordo 1985, and Calomiris 2000). Calomiris and Gary Gorton (1991) identify six episodes of particularly severe banking panics in the United States between the Civil War and World War I., and prior...