"An apparent temporary narrowing of income inequality has been observed during several recent banking crises. But it would be a mistake to conclude that such crises don't matter for the poor. For one thing, the correlation is not strong, and the opposite pattern has also been present. Besides,...

An apparent temporary narrowing of income inequality has been observed during several recent banking crises. But it would be a mistake to conclude that such crises don't matter for the poor. For one thing, the correlation is not strong, and the opposite pattern has also been present. Besides,...

With the same powerful evidence and range of reference as his global bestseller "Capital In The Twenty-First Century", this sets out Thomas Piketty's analysis of the financial crisis, what has happened since and where we should go from here.

We develop a model of bailout stigma in which accepting bailouts may signal firms' financial troubles and worsen subsequent financing conditions. Bailout stigma can lead to low or even no take-up of otherwise attractive bailout offers, the failure of immediate market revival, or a government...

With the same powerful evidence and range of reference as his global bestseller "Capital In The Twenty-First Century", this sets out Thomas Piketty's analysis of the financial crisis, what has happened since and where we should go from here.

Why do some banks fail in financial crises while others survive? This article answers this question by analysing the effect of the Dutch financial crisis of the 1920s on 142 banks, of which 33 failed. We find that choices of balance sheet composition and product market strategy made in the...