Rioja, Felix; Rios-Avila, Fernando; Valev, Neven - In: Journal of Financial Economic Policy 6 (2014) 1, pp. 64-77
Purpose – While the literature studying the effect of banking crises on real output growth rates has found short-lived effects, recent work has focused on the level effects showing that banking crises can reduce output below its trend for several years. This paper aims to investigate the...