Credit, crises and inequality
BankUnderground
MAY 3, 2022
When a recession is accompanied by a banking crisis – defined by Laeven and Valencia as the recession being within one year of a systemic banking crisis – we call it a ‘financial’ recession. Source: Authors’ calculations, based on SWIID data. When there is no banking crisis, we call these ‘normal’ recessions.
Let's personalize your content