We examine the relationship of banking crises with economic growth and recessions. Our data cover 21 economies from …

relationship is strengthened during recessions. …

several quarters. Despite the significant increases in bankruptcies during recessions, the largest contributor to rising …

For U.S. recessions since 1948, we study paneled time series of (i) ExUR, the excess of the unemployment rate over the …-75 recessions, a regression of ExUR on current and past values of NGAP has an R2 of 75%. Simulations indicate that NGDP targeting … could have eliminated 84% of the average ExUR during the period from 1.5 years and 4 years after the recessions began. The …

. Despite the significant increases in bankruptcies during recessions, the largest contributor to rising bankruptcies during …

recessions, and transfer wealth from the lower economic group to higher economic group and perpetuate the poverty. The paper also …