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identified late, solutions are much more costly. Until recently, Europe has seen only a small number of outright bank failures … of banking distress in Europe. We identify a set of indicators and thresholds that can help to distinguish sou …
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The recent global financial crisis was the first in recent history that was triggered by problems in the financial system of the mature economies. Existing work on financial crisis in emerging market countries, however, almost exclusively focus on the role of financial frictions in the domestic...
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