This article investigates the effects of macroeconomic policy (monetary and fiscal) on output growth during financial crises characterized by a “sudden stop” in net capital inflows in developing and emerging market economies. We investigate 83 sudden stop crises in 77 countries over 1982-2003 using a baseline empirical model to control for the various determinants of output losses during sudden...

or insolvent. Such crises have recurred throughout the history of capitalism. A collapse in investor confidence, usually after a period of market euphoria, marks such crises—examples include the Dutch tulip mania crisis of 1637–38, the Indian cotton futures market crash of 1866, and the Great Depression of 1929. When foreign lenders are involved, cross-border payments problems arise as well. Th...

background: the aim of the study was a recommendation and establishment the concept of the appropriate communication between public health, other competent services and population in emergency as the corner stone which guarantee that all goals which are important for community life will be achieved. methods: we used methodology appropriate for social science: analyses of documents, historical a...

We assess the quantitative relevance of expectations-driven sovereign debt crises, focusing on Southern European crisis early 2010’s and Argentine default 2001. The source multiplicity is one in Calvo (1988). Key for an output process featuring long periods either high growth or stagnation that we estimate using data those countries. find crises are quantitatively relevant but state dependent, ...

Health crises shock the population and overwhelm the health services. This article analyzes 30 years of health crises in Spain from a multifaceted perspective: population, patients, clinicians, public health practitioners, politicians, the media and other groups involved. The interaction among all stakeholders shapes the response and management of any health crisis. Heterogeneity of management ...

In this paper, we review three branches of theoretical literature on financial crises. The first one deals with banking crises originating from coordination failures among bank creditors. The second one deals with frictions in credit and interbank markets due to problems of moral hazard and adverse selection. The third one deals with currency crises. We discuss the evolutions of these branches ...

We study the behavior of credit spreads and their link to economic growth during financial crises. Our main finding is that the recessions that surround financial crises are longer and deeper than the recessions surrounding non-financial crises. The slow recovery from the 2008 crisis is in keeping with historical experience of recoveries from financial crises. We reach this conclusion by examin...

Liquidity problems lie at the heart of crises on financial markets as demonstrated in this paper by detailed descriptions of the stock market crash in 1987, the LTCM-crisis in 1998 and the financial market consequences of 11 September 2001. The events also demonstrate that modern central banks, in particular the U.S. Federal Reserve under AlanGreenspan, provided emergency liquidity to limit the...