Reinhart, Carmen M.; Rogoff, Kenneth S. - In: Panoeconomicus 56 (2009) 3, pp. 291-299
Is the 2007-2008 U.S. sub-prime mortgage financial crisis truly a new and different phenomena? Our examination of the longer historical record finds stunning qualitative and quantitative parallels to 18 earlier post-war banking crises in industrialized countries. Specifically, the run-up in U.S....