Bordo, M.D.; Meissner, C.M. - In: Handbook of macroeconomics : volume 2, v. 2A-2B SET, (pp. 355-412). 2016
Interconnections between banking crises and fiscal crises have a long history. We document the long-run evolution from classic banking panics toward modern banking crises where financial guarantees are associated with crisis resolution. Recent crises feature a feedback loop between bank...