, and least for manufacturing output. The difference in the depth in the crises concurs with differences in policy reaction … limit the depth of the Recent Crisis. -- Financial crisis ; business cycle ; stabilisation policy ; resilience …. This time monetary policy and fiscal policy were applied courageously, speedily and partly internationally coordinated …

revenues collapse and governments bail out financial institutions and attempt countercyclical fiscal policy. With notable … on economic growth and financial stability. In this paper we critically examine their work. We distinguish between a …

the history of financial crises. It presents a comprehensive survey of financial crises utilizing an extraordinary … authors to arrive at a simple but powerful conclusion: while times change, locations change, actors change, financial crises …This Time is Different: Eight Centuries of Financial Folly is one of the best, if not the best, books ever written on …

"We focus on two international aspects of the Great Depression-financial crises and international trade- and try to …-slump macroeconomic cycles. During both crises, world trade collapsed faster than world incomes and the trade decline was highly … discern lessons for the current economic crisis. Both downturns featured global banking crises which were generated by boom …