Reinhart, Carmen M.; Rogoff, Kenneth S. - In: American Economic Review 104 (2014) 5, pp. 50-55
We examine the evolution of real per capita GDP around 100 systemic banking crises. Part of the costs of these crises owes to the protracted nature of recovery. On average, it takes about 8 years to reach the pre-crisis level of income; the median is about 6.5 years. Five to six years after the...
