On financial crises.

• Author: Rees, Matthew
• Position: Miscellaneous

"Barry Eichengreen of the University of California at Berkeley and Michael Bordo of Rutgers University identify 139 financial crises between 1973 and 1997 (of which forty-four took place in high-income countries), compared with a total of only thirty-eight between 1945 and 1971. Crises are twice as common as they were before 1914, the...