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Systemic Banking Crises Database; An Update
Fabian Valencia,Luc Laeven +1 more
TLDR
This article updated the widely used banking crisis database by Laeven and Valencia (2008, 2010) with new information on recent and ongoing crises, including updated information on policy responses and outcomes (i.e., fiscal costs, output losses, and increases in public debt).Abstract:
We update the widely used banking crises database by Laeven and Valencia (2008, 2010) with new information on recent and ongoing crises, including updated information on policy responses and outcomes (i.e. fiscal costs, output losses, and increases in public debt). We also update our dating of sovereign debt and currency crises. The database includes all systemic banking, currency, and sovereign debt crises during the period 1970-2011. The data show some striking differences in policy responses between advanced and emerging economies as well as many similarities between past and ongoing crises.read more
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The Eurozone Crisis: Phoenix Miracle or Lost Decade?
TL;DR: This paper analyzed why the Eurozone crisis increasingly resembles Latin America's lost decade instead of Asia's phoenix miracle, emphasizing the roles of the real exchange rate, the external environment, and debt restructuring.
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Have business cycles changed over the last two decades? An empirical investigation
TL;DR: In this paper, the authors document the properties of business cycles of 71 countries (23 industrial countries and 48 emerging market economies, or EMEs), from 1970q1 to 2012q4 using the Harding and Pagan dating algorithm.
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A survey of the international evidence and lessons learned about unconventional monetary policies: is a ‘new normal’ in our future?
TL;DR: In this paper, the effectiveness of unconventional monetary policies (UMP) is examined and the effects of these policies on the domestic financial market and macroeconomic effects of UMP in the economies where these policies were introduced and their international spillover effects.
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Macroprudential policies, capital flows, and the structure of the banking sector
John Beirne,Christian Friedrich +1 more
TL;DR: In this paper, the authors examined the effectiveness of macro-prudential policies in managing cross-border bank flows in advanced and emerging market economies over the period 1999-2012.
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Public and Private Debt: The Historical Record (1870–2010)
TL;DR: The authors synthesize four historical facts and argue that a more balanced view of public and private borrowing is warranted, and demonstrate that private and public debt cycles have been tightly linked since the 1970s.