Did the founding of the Federal Reserve affect the vulnerability of the interbank system to contagion risk?

Did the founding of the Federal Reserve affect the vulnerability of the interbank system to contagion risk?

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Did the founding of the Federal Reserve affect the vulnerability of the interbank system to contagion risk?

By Bank for International Settlements (BIS)

This paper examines U.S. interbank linkages before and after the founding of the Federal Reserve, using modern network-based contagion theory to evaluate changes in systemic vulnerability.

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