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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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Dissertation
Approaching Systemic Risk with Entropy
TL;DR: In this paper, the authors focus on the marginal expected shortfall (MES) and its application in finance as early warning reference and specify a logit model that allows to link MES to the conditional probability of financial crisis.
Journal ArticleDOI
A Lesson from Ireland's Depression
TL;DR: The authors argue that there is a degree of power of the state, somewhere between all-powerful and completely powerless, that offers the individual just enough protection from both other individuals and the state itself.