The frequency of banking crises in a dynamic setting: a discrete-time duration approach

Vincent BouvatierBy
Authors registered in the RePEc Author Service: Vincent Bouvatier

Oxford Economic Papers, 2017, vol. 69, issue 4, 1078-1100

Abstract: This paper focuses on descriptive features of banking crises. More than two centuries of banking crises are considered, and a discrete-time duration model is estimated to identify the hazard function characterizing banking crises. The model makes it possible to identify a time-dependence effect in the occurrence of banking crises. The time dependence that emerges from the hazard function is potentially generated by a wide variety of structural and cyclical factors. In this paper, the hazard function serves a descriptive purpose and provides two insights into the frequency of banking crises. First, it shows the extent to which policymakers failed in muting the exposure to a new banking crisis during the two decades following a banking crisis. Second, it provides quantitative evidence that graduation from banking crises is elusive.

JEL-codes: C41 G01 G21 (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (3)

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Working Paper: The frequency of banking crises in a dynamic setting: a discrete-time duration approach (2017)
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