Open AccessPosted Content
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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Financial Data Transparency, International Institutions, and Sovereign Borrowing Costs
TL;DR: In this paper, the authors explore how investors use the overall level of information available about the private financial sector and the potential risks it poses to government finances when making decisions about investing in sovereign debt.
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The Political Economy of Financial Reform: de Jure Liberalization vs. de Facto Implementation
TL;DR: In this article, the conditions under which de jure financial reforms are implemented, yielding de facto financial liberalization, were investigated in 90 countries from 1980 to 2005, corroborated by a series of illustrative case studies.
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The Highs and the Lows: A Theory of Credit Risk Assessment and Pricing through the Business Cycle
TL;DR: The authors developed a theory of how risk is assessed and priced through the business cycle by developing an intuitive model in which there is uncertainty about whether outcomes depend on the risk-management skills of banks or are just based on luck.
Posted ContentDOI
Financial Activities Taxes, Bank Levies and Systemic Risk
Cannas Giuseppina,Cariboni Jessica,Marchesi Massimo,Nicodeme Gaetan,Petracco Giudici Marco,Zedda Stefano +5 more
TL;DR: In this article, a micro-simulation model of the banking system is used to estimate contributions to systemic risk of individual banks under various future regulatory scenarios and compares them to their potential tax liabilities under alternative designs of Financial Activity Taxes and Bank Levies.
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Financial Liberalization, Debt Mismatch, Allocative Efficiency, and Growth
Romain Ranciere,Aaron Tornell +1 more
TL;DR: This article presented a two-sector model in which liberalization, by allowing debt-denomination mismatch, relaxes borrowing limits in the financially constrained sector, but endogenously generates crisis risk.