Understanding Financial Crises: Causes, Consequences, and Policy Responses
The global financial crisis of 2007-09 has led to an intensive research program analyzing a wide range of issues related to financial crises. This paper presents a summary of a forthcoming book, Financial Crises: Causes, Consequences, and Policy Responses, that includes 19 contributions examining these issues and distilling policy lessons. The book covers a wide range of crises, including banking, balance-of-payments, and sovereign debt crises. It reviews the typical patterns prior to crises, considers lessons on their antecedents, and analyzes their evolution and aftermath. It also provides valuable policy lessons on how to prevent, contain and manage financial crises.
|Date of creation:||Feb 2013|
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- Abdul Abiad & Petya Koeva Brooks & Irina Tytell & Daniel Leigh & Ravi Balakrishnan, 2009. "Whatâ€™S the Damage? Medium-Term Output Dynamics After Banking Crises," IMF Working Papers 09/245, International Monetary Fund.
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11/76, International Monetary Fund.
- Stijn Claessens & M. Ayhan Kose & Marco E. Terrones, 2011. "Financial Cycles: What? How? When?," NBER International Seminar on Macroeconomics, University of Chicago Press, vol. 7(1), pages 303 - 344.
- Stijn Claessens & M. Ayhan Kose & Marco E. Terrones, 2010. "Financial Cycles: What? How? When?," NBER Chapters, in: NBER International Seminar on Macroeconomics 2010, pages 303-343 National Bureau of Economic Research, Inc.
- Giovanni Dell'Ariccia & Pau Rabanal & Christopher W. Crowe & Deniz Igan, 2011. "Policies for Macrofinancial Stability; Options to Deal with Real Estate Booms," IMF Staff Discussion Notes 11/02, International Monetary Fund.
- Carmen Reinhart & Kenneth Rogoff, 2013.
"Financial and Sovereign Debt Crises: Some Lessons Learned and Those Forgotten,"
IMF Working Papers
13/266, International Monetary Fund.
- Reinhart, Carmen M. & Rogoff, Kenneth, 2013. "Financial and Sovereign Debt Crises: Some Lessons Learned and Those Forgotten," CEPR Discussion Papers 9750, C.E.P.R. Discussion Papers.
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