The recent financial crisis has focused the attention of scholars and policymakers on how to
improve financial stability through better macro‐prudential regulation and supervision. In this …

This paper provides a survey of the Great Depression comprising both a narrative account
and a detailed review of the empirical evidence, focusing especially on the experience of the …

" Rosas's compelling theory and wide-ranging empirical evidence yield a persuasive but
surprising conclusion in light of the financial meltdown of 2008–9. In the event of banking …

This article explores the link between the subprime crisis and the European sovereign debt
crisis. Using a panel data approach, we estimate the impact of the different government …

" The goals of financial restructuring are to reestablish the creditor-debtor relationships on
which the economy depends for an efficient allocation of capital, and to accomplish that …

In conventional bad bank models, the estimated fundamental value of the illiquid assets is
paid to the ailing bank, thereby leaving considerable economic risk with the asset …

To test if safety nets create moral hazard in the banking industry, we develop a simultaneous
structural two-equations model that specifies the probability of a bailout and banks' risk …

When the Japanese economy experienced a serious financial crisis in the late 1990s, the
government attempted to promptly resolve this crisis by injecting public funds into bank …

The aim of this paper is to take a closer look at IMF conditionality in the banking sector. Our
analysis shows that while such conditionality became more stringent following the Asian …

Having described the evolution of depression and recovery in the 1930s, we now turn to a
more technical analysis framed with a view to deriving lessons for the making of economic …