Kapp, Daniel; Vega, Marco - Volkswirtschaftliche Fakultät, … - 2012
therefore analyze GDP losses in terms of frequency (number of loss events per period) and severity (loss per occurrence). Crises …' frequency, severity, and the associated global output losses over periods of five years are identified on the basis of Laeven … and Valencia(2008). Applying the Loss Distribution Approach used in insurance and operational risk theory and practice, we …