159 citations
4 papers
Failing Banks
Sergio Correia, Stephan Luck, Emil Verner
Why do banks fail? We create a panel covering most commercial banks from 1863 through 2024 to study the history of failing banks in the United States. Failing banks are characteriz…
The Debt-Inflation Channel of the German (Hyper-)Inflation
Markus K. Brunnermeier, Sergio Correia, Stephan Luck +2
This paper studies how a large increase in the price level is transmitted to the real economy through firm balance sheets. Using newly digitized macro- and micro-level data from th…
Pandemics Depress the Economy, Public Health Interventions Do Not: Evidence from the 1918 Flu
Sergio Correia, Stephan Luck, Emil Verner
We study the impact of non-pharmaceutical interventions (NPIs) on mortality and economic activity across U.S. cities during the 1918 Flu Pandemic. The combination of fast and strin…
Digitizing Historical Balance Sheet Data: A Practitioner's Guide
Sergio Correia, Stephan Luck
This paper discusses how to successfully digitize large-scale historical micro-data by augmenting optical character recognition (OCR) engines with pre- and post-processing methods.…