<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>0185-1667</journal-id>
<journal-title><![CDATA[Investigación económica]]></journal-title>
<abbrev-journal-title><![CDATA[Inv. Econ]]></abbrev-journal-title>
<issn>0185-1667</issn>
<publisher>
<publisher-name><![CDATA[Universidad Nacional Autónoma de México, Facultad de Economía]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S0185-16672023000300037</article-id>
<article-id pub-id-type="doi">10.22201/fe.01851667p.2023.325.86166</article-id>
<title-group>
<article-title xml:lang="en"><![CDATA[Bank runs in practice and theory]]></article-title>
<article-title xml:lang="es"><![CDATA[Las corridas bancarias en la práctica y la teoría]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Pérez Caldentey]]></surname>
<given-names><![CDATA[Esteban]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Vernengo]]></surname>
<given-names><![CDATA[Matías]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Economic Commission for Latin America and the Caribbean  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Chile</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Bucknell University  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>USA</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>09</month>
<year>2023</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>09</month>
<year>2023</year>
</pub-date>
<volume>82</volume>
<numero>325</numero>
<fpage>37</fpage>
<lpage>71</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S0185-16672023000300037&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S0185-16672023000300037&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S0185-16672023000300037&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="en"><p><![CDATA[ABSTRACT The paper shows that past bank run episodes in the United States display a common pattern. Runs are endogenous to situations of perceived insolvency concerns resulting from the adoption of risky practices driven by the profit motive within a context of lose/inadequate regulation or deregulation. Risky practices make financial institutions more vulnerable to changes in external conditions. The mainstream approaches to bank runs are based on a characterization of an economy that resembles a cooperative economy (all resources are shared equally by all participants) rather than an entrepreneur economy whose end-motive is profit making. As a result, they provide implausible stories about bank runs. Building on the stylized facts of bank runs this paper presents the main building blocks for an alternative theory.]]></p></abstract>
<abstract abstract-type="short" xml:lang="es"><p><![CDATA[RESUMEN Este artículo muestra que los episodios pasados de corridas bancarias en Estados Unidos exhiben un patrón común de comportamiento. Las corridas son endógenas a situaciones de insolvencia percibidas como resultado de la adopción de prácticas riesgosas impulsadas por el afán de lucro en un contexto de regulación o desregulación de pérdidas/inadecuadas. Esto hace que las instituciones financieras sean más vulnerables a los cambios en las condiciones externas. Los enfoques convencionales de las corridas bancarias se basan en una caracterización de una economía que se asemeja a una economía cooperativa (todos los recursos son compartidos por igual por todos los participantes) en lugar de una economía empresarial cuyo motivo final es la obtención de beneficios. Como resultado, proporcionan historias inverosímiles sobre las corridas bancarias. Sobre la base de los hechos estilizados de las corridas bancarias, este documento presenta las principales premisas para una teoría alternativa.]]></p></abstract>
<kwd-group>
<kwd lng="en"><![CDATA[Bank runs]]></kwd>
<kwd lng="en"><![CDATA[coordination failure]]></kwd>
<kwd lng="en"><![CDATA[asymmetric information]]></kwd>
<kwd lng="en"><![CDATA[fundamentals]]></kwd>
<kwd lng="en"><![CDATA[cooperative economy]]></kwd>
<kwd lng="en"><![CDATA[entrepreneur economy]]></kwd>
<kwd lng="es"><![CDATA[corridas bancarias]]></kwd>
<kwd lng="es"><![CDATA[fallas de coordinación]]></kwd>
<kwd lng="es"><![CDATA[información asimétrica]]></kwd>
<kwd lng="es"><![CDATA[fundamentales]]></kwd>
<kwd lng="es"><![CDATA[economía cooperativa]]></kwd>
<kwd lng="es"><![CDATA[economía empresarial]]></kwd>
</kwd-group>
</article-meta>
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