Systemic Financial Crisis: A Cluster Analysis
This study examines the similarities between the current crisis and other systemic crises from the past. The purpose of our research is to discover whether previously used crisis management policies can constitute a referential in choosing the most effective policies for the management of the current crisis. This study highlights important similarities between the current crisis and those that occurred in the past in Norway (1991) and Japan (1997), using a cluster analysis in order to obtain homogeneous groups of crises.. Also, through a qualitative analysis of crisis management policies, the study stresses the need to learn from past lessons.
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- Stephen G. Cecchetti & Marion Kohler & Christian Upper, 2009.
"Financial crises and economic activity,"
Proceedings - Economic Policy Symposium - Jackson Hole,
Federal Reserve Bank of Kansas City, pages 89-135.
- Stephen G. Cecchetti & Marion Kohler & Christian Upper, 2009. "Financial Crises and Economic Activity," NBER Working Papers 15379, National Bureau of Economic Research, Inc.
- Cecchetti, Stephen G & Kohler, Marion & Upper, Christian, 2009. "Financial Crises and Economic Activity," CEPR Discussion Papers 7495, C.E.P.R. Discussion Papers.
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