Cecchetti, Stephen G; Kohler, Marion; Upper, Christian - C.E.P.R. Discussion Papers - 2009
We study the output costs of 40 systemic banking crises since 1980. Most, but not all, crises in our sample coincide … of past banking crises were higher when they were accompanied by a currency crisis or when growth was low at the onset of … a tendency for systemic banking crises to have lasting negative output effects. …