The economic and fiscal consequences of financial crises
AbstractFinancial crises are historically associated with the “4 deadly D’s”: Sharp economic downturns follow banking crises; with government revenues dragged down, fiscal deficits worsen; deficits lead to debt; as debt piles up rating downgrades follow. For the most fortunate countries, the crisis does not lead to the deadliest D: default, but for many it has.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 13025.
Date of creation: 26 Jan 2009
Date of revision:
financial crises; unemployment; debt; deficit; housing prices;
Find related papers by JEL classification:
- F0 - International Economics - - General
- E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-01-31 (All new papers)
- NEP-FDG-2009-01-31 (Financial Development & Growth)
- NEP-MAC-2009-01-31 (Macroeconomics)
- NEP-URE-2009-01-31 (Urban & Real Estate Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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11492, National Bureau of Economic Research, Inc.
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