Financial crises have large deleterious effects on economic activity, and as such have been
the focus of a large body of research. This study surveys the existing literature on financial …

This paper reviews literature on the empirical relationship between vulnerabilities in the
financial system and the macroeconomy, and how monetary policy affects that connection …

We examine historical banking crises through the lens of bank equity declines, which cover
a broad sample of episodes of banking distress with and without banking panics. To do this …

" This Handbook adopts a traditional definition of the subject, and focuses primarily on the
explanation of international transactions in goods, services, and assets, and on the main …

We study trends and drivers of long-run stock market growth in 17 advanced economies.
Between 1870 and the 1980s, stock market capitalization grew in line with GDP. But over …

A bold history of the rise of central banks, showing how institutions designed to steady the
ship of global finance have instead become as destabilizing as they are dominant. While …

The credit gap, defined as the deviation of the credit-to-GPD ratio from a Hodrick-Prescott
(HP) filtered trend, is a powerful early warning indicator for predicting crises. Basel III …

This paper explores how banks react to an exogenous shock caused by Hurricane Katrina in
2005, and how the structure of the banking system affects economic development following …

This second edition of The Industrial Organization explores the study of the structure of
individual banks, banking markets, and their interactions. The book has the same two key …

How can macroeconomic tail risks originating from financial vulnerabilities be monitored
systematically over time? This question lies at the heart of operationalising the …