Not all banking crises involve panics

Study shows many kinds of finance-sector failures — not just history’s most famous bank runs — lead to economic downturns. CAMBRIDGE, Mass.(MIT News office) -- A banking crisis is often seen as a self-fulfilling prophecy: The…

Beyond Bitcoin: A new case for novel payment systems

In his latest book, economist Robert Townsend surveys how “distributed ledger” technologies can help emerging economies and many industries. CAMBRIDGE, Mass.(MIT news office) -- The cryptocurrency Bitcoin has become a center of excitement, mystery, and controversy.…