@techreport{NBERw0691,
 title = "A Systematic Banking Collapse in a Perfect Foresight World",
 author = "Robert P. Flood and Peter M. Garber",
 institution = "National Bureau of Economic Research",
 type = "Working Paper",
 series = "Working Paper Series",
 number = "691",
 year = "1981",
 month = "June",
 URL = "http://www.nber.org/papers/w0691",
 abstract = {In this paper we present a model in which a systematic banking collapse is possible in a perfect foresight, general equilibrium context. Our aim is to determine con3itions under which a collapse will eventually occur and the timing of such a collapse. The collapse can occur endogenously, driven by market fundamentals. Alternatively, it can be caused by a mass hysteria which generates itself in reality. Vie also compare the assumptions and implications of our model to the observable phenomena of the 1930's.},
}