In the 1990s, Sudden Stops in emerging markets were a harbinger of the 2008 global
financial crisis. During these Sudden Stops, countries lost access to credit, which caused …

The financial crisis has demonstrated the need for a set of macroprudential policy tools that
can be used to mitigate systemic risk. Focusing on the UK, our paper reviews the …

Ideally, early warning indicators (EWI) of banking crises should be evaluated on the basis of
their performance relative to the macroprudential policy maker's decision problem. We …

The paper develops an early-warning model for predicting vulnerabilities leading to distress
in European banks using both bank and country-level data. As outright bank failures have …

We examine the determinants of external crises, focusing on the role of foreign liabilities and
their composition. Using a variety of statistical tools and comprehensive data spanning 1970 …

Using data for more than 160 countries in the period 1997–2010, we explore the impact of
large-scale natural disasters on the distance-to-default of commercial banks. The financial …

This paper analyzes the channels through which financial liberalization affects bank risk-
taking in an international sample of 4333 banks in 83 countries. Our results indicate that …

Since 2007, central banks of industrialized countries have counteracted financial instability,
recession, and deflationary risks with unprecedented monetary policy operations. While …

In this paper, we assess the impact of fiscal consolidation on income inequality. Using a
panel of 18 industrialized countries from 1978 to 2009, we find that income inequality …

The global financial crisis of 2008–2009 illustrates how financial turmoil in advanced
economies could trigger severe financial stress in emerging markets. Previous studies …