Using LLM-extracted newspaper records, the authors identify 3,421 U.S. bank runs from 1863-1934 and find that runs lead to failure and severe local economic damage mainly when banks have weak fundamentals.
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Bank Runs With and Without Bank Failure
Using LLM-extracted newspaper records, the authors identify 3,421 U.S. bank runs from 1863-1934 and find that runs lead to failure and severe local economic damage mainly when banks have weak fundamentals.