Why were banks better off in the 2001 recession?

Til Schuermann

Current Issues in Economics and Finance, 2004, vol. 10, issue Jan

Abstract: In a sharp turnaround from their fortunes in the 1990-91 recession, banks came through the 2001 recession reasonably well. A look at industry and economy-wide developments in the intervening years suggests that banks fared better largely because of more effective risk management. In addition, they benefited from a decline in short-term interest rates and the relative mildness of the 2001 downturn.

Keywords: Risk management; Interest rates; Recessions; Bank profits (search for similar items in EconPapers)
Date: 2004
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