Gaytan, Alejandro; Ranciere, Romain - Econometric Society - 2004
do financial fragility and the costs of banking crises evolve with the level of wealth of countries? We analyze these … economies could experience banking crises in the process of their development and, as they get richer, they eventually converge … to a financially safe long run steady state. Finally, the model replicates the empirical fact of higher costs of banking …