State tax revenues continue, since the Great Recession, to experience elevated volatility relative to previous decades. The elevated tax revenue volatility is due to both economic uncertainty and the riskiness of the tax portfolios state governments are holding. Since the Great Recession, 18...

We investigate asset returns around banking crises in 44 advanced and emerging economies from 1960 to 2018. In contrast to the view that buying assets during banking crises is a profitable long-run strategy, we find returns of equity and other asset classes generally underperform after banking...

We investigate asset returns around banking crises in 44 advanced and emerging economies from 1960 to 2016. In contrast to the view that buying assets during banking crises is a profitable long-run strategy, we find that returns of equity and other asset classes often underperform following...