The stability and credibility of a national currency is one of the key factors for successful national economic development. Knowledge of the long-run demand for money helps the monetary authorities to determine what is the rate of growth of the money stock that would not lead to an excessive...

We examine which indicators are most useful in explaining the cost of economic crises in EU and OECD countries between 1970 and 2010. To define the dependent variable we combine a measure of costs to the economy, which consists of the output and employment loss and the fiscal deficit, with a...

We construct and explore a new quarterly dataset covering crisis episodes in 40 developed countries over 1970–2010. First, we present stylized facts on banking, debt, and currency crises. Using panel vector autoregression we find that banking and debt crises are interrelated and both typically...