19-3 The adverse effects of a contagious run include the restrictions on the ability of individuals to transfer wealth through time and a negative impact on the level or rate of savings.

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A contagious run can create a sense of urgency to withdraw funds, which can limit individuals' ability to transfer wealth through time. Additionally, if individuals are forced to liquidate assets in order to meet immediate financial needs, this can lead to a decrease in savings.

19-3 the Adverse Effects of a Contagious Run Include the Restrictions