Over the last four decades, banking crises around the globe have become longer. This, along with the unprecedented government responses to the Great Recession of 2007/08, has led to a critical question of whether political decisions were somehow to blame for these more prolonged crises. Despite...

This paper assesses the impact of distinct types of financial crises on social protection spending using a panel of 105 countries over the period 1991-2019. The findings show that spending on social protection increases when financial crises strike, mainly in the aftermath of banking crises....

The study investigates the moderation effect of economic policy uncertainty (EPU) towards the relationship between excess liquidity and bank risk-taking as well as explores its stronger impact in countries severely affected by the 2008 Global Financial Crisis (GFC). Using System Generalized...

This paper examines how pre-crisis conditions affect the duration of different types of financial crises using a data sample of 244 financial crises in 89 countries over the period 1985-2017. Results from our parametric survival analysis show that the duration of any type of financial crisis is...

This paper examines the effects of financial crises on income inequality using a panel of 128 countries over the period 1960-2019. We focus on different types of financial crises: banking, currency, debt, and twin and triple crises. Our results show that any type of financial crisis results in a...

We study the impact of economic policy uncertainty on the probability and duration of economic recessions in 10 major European Union countries over the period 1987Q2-2021Q1. We find that economic policy uncertainty results in not only a higher probability of economic recessions but also longer...