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Eight Hundred Years of Financial Folly

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Author Info
Reinhart, Carmen

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Abstract

The economics profession has an unfortunate tendency to view recent experience in the narrow window provided by standard datasets. With a few notable exceptions, cross-country empirical studies on financial crises typically begin in 1980 and are limited in other important respects. Yet an event that is rare in a three decade span may not be all that rare when placed in a broader context. In my paper with Kenneth Rogoff we introduce a comprehensive new historical database for studying debt and banking crises, inflation, currency crashes and debasements. The data covers sixty-six countries in across all regions. The range of variables encompasses external and domestic debt, trade, GNP, inflation, exchange rates, interest rates, and commodity prices. The coverage spans eight centuries, going back to the date of independence or well into the colonial period for some countries.

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File URL: http://mpra.ub.uni-muenchen.de/11864/
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Publisher Info
Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 11864.

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Date of creation: Mar 2008
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Handle: RePEc:pra:mprapa:11864

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Related research
Keywords: Financial crises; inflation; default;

Find related papers by JEL classification:
E0 - Macroeconomics and Monetary Economics - - General

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This page was last updated on 2009-11-14.


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