Journal ArticleDOI
Systemic banking crises database
Luc Laeven,Fabian Valencia +1 more
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In this article, the authors present a comprehensive database on systemic banking crises during 1970-2011 and propose a methodology to date banking crises based on policy indices, and examine the robustness of this approach.Abstract:
The paper presents a comprehensive database on systemic banking crises during 1970–2011. It proposes a methodology to date banking crises based on policy indices, and examines the robustness of this approach. The paper also presents information on the costs and policy responses associated with banking crises. The database on banking crises episodes is further complemented with dates for sovereign debt and currency crises during the same period. The paper contrasts output losses across different crises and finds that sovereign debt crises tend to be more costly than banking crises, and these in turn tend to be more costly than currency crises. The data also point to significant differences in policy responses between advanced and emerging economies.read more
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The Use and Effectiveness of Macroprudential Policies: New Evidence
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When Credit Bites Back
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The use and effectiveness of macroprudential policies: New evidence
TL;DR: Using a recent IMF survey and expanding on previous studies, this article document the use of macro-prudential policies for 119 countries over the 2000-2013 period, covering many instruments.
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Jakob de Haan,Jan-Egbert Sturm +1 more
TL;DR: In this article, a panel fixed effects model for a sample of 121 countries covering 1975-2005 was used to examine how financial development, financial liberalization and banking crises are related to income inequality.
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The Great Mortgaging: Housing Finance, Crises, and Business Cycles
TL;DR: This paper showed that the share of mortgages on banks' balance sheets doubled in the course of the twentieth century, driven by a sharp rise of mortgage lending to households, and that household debt to asset ratios have risen substantially in many countries.
References
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BookDOI
This Time Is Different: Eight Centuries of Financial Folly
Carmen Reinhart,Kenneth Rogoff +1 more
TL;DR: This Time Is Different as mentioned in this paper presents a comprehensive look at the varieties of financial crises, and guides us through eight astonishing centuries of government defaults, banking panics, and inflationary spikes.
Journal ArticleDOI
The Twin Crises: The Causes of Banking and Balance-Of-Payments Problems
TL;DR: The authors analyzes the links between banking and currency crises and finds that problems in the banking sector typically precede a currency crisis, activating a vicious spiral; financial liberalization often precedes banking crises.
Posted Content
The twin crises: the causes of banking and balance-of-payments problems
TL;DR: This paper examined the potential links between banking and balance-of-payments crises and found that financial liberalization usually predates banking crises, indeed, it helps predict them, rather than a causal relationship from banking to balance of payments crises.
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Credit Booms Gone Bust: Monetary Policy, Leverage Cycles and Financial Crises, 1870-2008
TL;DR: This paper studied the behavior of money, credit, and macroeconomic indicators over the long run based on a newly constructed historical dataset for 12 developed countries over the years 1870-2008, utilizing the data to study rare events associated with financial crisis episodes.
Journal ArticleDOI
Currency crashes in emerging markets: An empirical treatment
TL;DR: The authors defined a currency crash as a large change of the nominal exchange rate that is also a substantial increase in the rate of change of nominal depreciation, and used a panel of annual data for over 100 developing countries from 1971 through 1992 to characterize currency crashes.