Erce, Aitor; Balteanu, Irina - Federal Reserve Bank of Dallas - 2014
each other, using a large sample of emerging economies over three decades. We first define “twin crises” as events where … banking crises and sovereign defaults combine, and further distinguish between those banking crises that end up in sovereign … debt crises, and vice-versa. We then assess what differentiates “single” episodes from “twin” ones. Using an event analysis …