Claessens, Stijn; Kose, M. Ayhan; Terrones, Marco E. - 2010
integrated global financial markets. Third, how costly are recessions that followed these types of crises? Although the latest …This paper provides a brief analysis of three major questions raised in the context of the recent global financial … crisis. First, how similar is the crisis to previous episodes? We argue that the crisis featured some close similarities to …