Intensified Regulatory Scrutiny and Bank Distress in New York City During the Great Depression
检验了1931年纽约银行危机的原因，发现危机源于对合众国银行倒闭的延迟反应导致的监管审查加强，而非海外事件的影响。
Bank distress peaked in New York City, at the center of the United States money market, in July and August 1931, when the banking crisis peaked in Germany and before Britain abandoned the gold standard. This article tests competing theories about the causes of New York's banking crisis. The cause appears to have been intensified regulatory scrutiny, which was a delayed reaction to the failure of the Bank of United States, rather than the exposure of money center banks to events overseas.