Banking-Crisis Interventions Across Time and Space
Andrew Metrick and
Paul Schmelzing
No 29281, NBER Working Papers from National Bureau of Economic Research, Inc
Abstract:
We present a new database of banking-crisis interventions from the Roman Empire to the present, covering 1,946 interventions in 20 categories across 143 countries. We demonstrate that crisis-intervention patterns are significantly related to income and fiscal variables and to measures of the political system and currency regime. GDP losses following crises are economically significant and are larger for wealthier countries, with some evidence that these losses are mitigated by democratic political systems and liberal currency regimes. Finally, intervention frequencies reached an apex during the post-Bretton Woods era, continuing a secular increase since at least the late 17th century.
JEL-codes: G01 G28 (search for similar items in EconPapers)
Date: 2021-09
New Economics Papers: this item is included in nep-ban, nep-cba, nep-fdg, nep-his, nep-ifn and nep-mon
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Persistent link: https://EconPapers.repec.org/RePEc:nbr:nberwo:29281
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