NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Relationship Lending and the Great Depression

Jon Cohen, Kinda Cheryl Hachem, Gary Richardson

NBER Working Paper No. 22891
Issued in December 2016, Revised in January 2020

---- Acknowledgments ----

We thank Joseph Johnson, Padma Sharma, and Daniel Tracht for excellent research assistance. We also thank Ben Bernanke, Gabe Chodorow-Reich, Oli Coibion, Jonathan Dingel, Joe Haubrich, Erik Hurst, Chris Koch, Fabrizio Perri, Johannes Wieland, and three anonymous referees, as well as seminar and conference participants at Chicago Booth, UW-Madison, FRB Cleveland, NBER SI 2016 Monetary Economics, the 2018 Texas Monetary Conference, and the University of Michigan for helpful comments. Kinda Hachem thanks Chicago Booth for financial support in earlier stages of this work. The views in this paper are those of the authors and do not necessarily reflect the views of the Federal Reserve Bank of Richmond, the Federal Reserve System, or the National Bureau of Economic Research.

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