Why didn’t Canada have a banking crisis in 2008 (or in 1930, or 1907, or…)?

What a paper by the trio – Michael D. Bordo, Angela Redish, Hugh Rockoff (free version here). Canada’s banking system has always been a case of owner’s pride and neighbor’s envy. It has had this history of having minimal impact of any global crisis on its financial system. And it is never really talked about much except during crisis. […]