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International Aspects of the Great Depression and the Crisis of 2007 : Similarities, Differences, and Lessons

Grossman, Richard S. - 2010

-slump macroeconomic cycles. During both crises, world trade collapsed faster than world incomes and the trade decline was highly …

Persistent link: https://www.econbiz.de/10012462356

Fighting Crises

Gorton, Gary - 2016

) and stigma (the cost of having a bank's name revealed) are desirable to restore confidence. Lending facilities raise the …

Persistent link: https://www.econbiz.de/10012455893

Fighting the Last War : Economists on the Lender of Last Resort

Grossman, Richard S. - 2015

In this paper we trace the evolution of the lender of last resort doctrine--and its implementation--from the nineteenth century through the panic of 2008. We find that typically the most influential economists "fight the last war": formulating policy guidelines that would have dealt effectively...

Persistent link: https://www.econbiz.de/10012457834

Recovery from Financial Crises : Evidence from 100 Episodes

Reinhart, Carmen M. - 2014

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 eight years to reach the pre-crisis level of income; the median is about 6 ½ years. Five to six years after...

Persistent link: https://www.econbiz.de/10012458841

Getting up to Speed on the Financial Crisis : A One-Weekend-Reader's Guide

Gorton, Gary B. - 2012

All economists should be conversant with "what happened?" during the financial crisis of 2007-2009. We select and summarize 16 documents, including academic papers and reports from regulatory and international agencies. This reading list covers the key facts and mechanisms in the build-up of...

Persistent link: https://www.econbiz.de/10012460883

Bank Supervision, Regulation, and Instability During the Great Depression

Mitchener, Kris James - 2004

Even after controlling for local economic conditions, differences in state bank supervision and regulation contribute … toward explaining the large variation in state bank suspension rates across U.S. counties during the Great Depression. More … requirements had the opposite effect. States that endowed bank supervisors with the authority to liquidate banks minimized …

Persistent link: https://www.econbiz.de/10012468218

Macroeconomic Adjustment and the History of Crises in Open Economies

Aizenman, Joshua - 2012

In contrast, we find that past crisis experience has a significant impact on savings. When facing considerable political risk, the past does seem to matter - countries with more people who were exposed, over their lifetime, to larger disasters will tend to save more. This association, however,...

Persistent link: https://www.econbiz.de/10012460133

Measuring Real Economic Effects of Bailouts : Historical Perspectives on How Countries in Financial Distress Have Fared With and Without Bailouts

Bordo, Michael D. - 2000

In this paper we first trace the changing nature of banking, currency and debt crises from the last century to the present. Each type of crisis has transmogrified in the presence of official intervention and the creation of a safety net. A similar pattern is observed for international rescue...

Persistent link: https://www.econbiz.de/10012471060

The Anatomy of Financial Crises

Eichengreen, Barry - 1987

between generalized financial crises on the one hand and isolated bank failures, debt defaults and foreign-exchange market …-market disturbances and bank failures. In both the 1930s and 1980s, the institutional environment was drastically altered by rapid change …

Persistent link: https://www.econbiz.de/10012476943

After the Panic : Are Financial Crises Demand or Supply Shocks? Evidence from International Trade

Benguria, Felipe - 2019

Are financial crises a negative shock to demand or a negative shock to supply? This is a fundamental question for both macroeconomics researchers and those involved in real-time policymaking, and in both cases the question has become much more urgent in the aftermath of the recent financial...

Persistent link: https://www.econbiz.de/10012479740

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