Financial crises and economic activity
By: Stephen G. Cecchetti, Marion Kohler, Christian Upper.
Contributors: Kohler, Marion.; Upper, Christian.; National Bureau of Economic Research.
Series: NBER working paper series -- working paper 15379; Working paper series (National Bureau of Economic Research : Online) -- working paper no. 15379.
Publisher: National Bureau of Economic Research
Published: 2009
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Description: "We study the output costs of 40 systemic banking crises since 1980.  Most, but not all, crises in our sample coincide with a sharp contraction in output from which it took several years to recover.  Our main findings are as follows.  First, the current financial crisis is unlike any others in terms of a wide range of economic factors.  Second, the output losses of past banking crises were higher when they were accompanied by a currency crisis or when growth was low at the onset of the crisis.  When accompanied by a sovereign debt default, a systemic banking crisis was less costly.  And, third, there is a tendency for systemic banking crises to have lasting negative output effects"--National Bureau of Economic Research web site.
Notes: Title from PDF file as viewed on 9/29/2009.

Includes bibliographical references.

Also available in print.

System requirements: Adobe Acrobat Reader.

Mode of access: World Wide Web.