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The lingering effects of the economic crisis are still visible—this shows a clear need to improve our understanding of financial crises. This book surveys a w
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The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many
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This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since ma
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An empirical investigation of financial crises during the last 800 years.