Calming the Panic: Investor Risk Perceptions and the Fed's Emergency Lending during the 2023 Bank Run
In a companion post, we showed that during the bank run of spring 2023 investors were seemingly not concerned about bank risk broadly but rather became sensitized
Reading the Panic: How Investors Perceived Bank Risk During the 2023 Bank Run
The bank run that started in March 2023 in the U.S. occurred at an unusually rapid pace, suggesting that depositors were surprised by these events. Given that public data revealed