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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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A Decade After the Global Financial Crisis: Lessons and Policy for International Stability
TL;DR: The Global Financial Crisis of 2007-09 has been the most severe global shock after the Great Depression of the 1930s as discussed by the authors, which has changed the outlook on international socio-economic integration and concerns on financial security and global polity.
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A Bayesian Signals Approach for the Detection of Crises
TL;DR: In this paper, the authors considered the signals approach as an early warning system to detect crises and provided a Bayesian model based on vector autoregression for indicator variables, and incorporated dynamic factors, time-varying weights in the latent composite indicator and special priors to avoid the proliferation of parameters.