When small countries crash -- Sinking Scotland -- Caribbean follies -- Austria, credit-anstalt and the Great Depression -- When Finland almost failed -- Albanian pyramid schemes -- Volcanoes, Icelandic banks, and McDonald's -- Ireland's time of troubles -- Acropolis now -- Conclusion.

To complement the early warning signals literature, we study the determinants of banking and currency crises for small states and currency boards. Building on the crisis dataset by Laeven and Valencia (2020), we estimate a binominal logit model to identify the determinants of crises, and as a...

This article explores the trade and financial channels through which foreign developments can be transmitted to the UK. We quantify how global developments have affected UK GDP historically, and analyse their potential influence in future rare events. We also discuss the actions taken following...