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| List of Tables | |
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| List of Figures | |
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| List of Boxes | |
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| Preface | |
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| Acknowledgments | |
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| Preamble: Some Initial Intuitions on Financial Fragility and The Fickle Nature of Confidence | |
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| Financial Crises: An Operational Primer | |
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| Varieties of Crises and Their Dates | |
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| Crises Defined by Quantitative Thresholds: Inflation, Currency Crashes, and Debasement | |
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| Crises Defined by Events: Banking Crises and External and Domestic Default | |
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| Other Key Concepts | |
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| Debt Intolerance: The Genesis of Serial Default | |
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| Debt Thresholds | |
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| Measuring Vulnerability | |
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| Clubs and Regions | |
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| Reflections on Debt Intolerance | |
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| A Global Database on Financial Crises with a Long-Term View | |
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| Prices, Exchange Rates, Currency Debasement, and Real GDP | |
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| Government Finances and National Accounts | |
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| Public Debt and Its Composition | |
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| Global Variables | |
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| Country Coverage | |
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| Sovereign External Debt Crises | |
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| A Digression on the Theoretical Underpinnings of Debt Crises | |
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| Sovereign Lending | |
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| Illiquidity versus Insolvency | |
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| Partial Default and Rescheduling | |
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| Odious Debt | |
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| Domestic Public Debt | |
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| Conclusions | |
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| Cycles of Sovereign Default on External Debt | |
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| Recurring Patterns | |
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| Default and Banking Crises | |
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| Default and Inflation | |
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| Global Factors and Cycles of Global External Default | |
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| The Duration of Default Episodes | |
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| External Default through History | |
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| The Early History of Serial Default: Emerging Europe, 1300--1799 | |
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| Capital Inflows and Default: An "Old World" Story | |
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| External Sovereign Default after 1800: A Global Picture | |
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| The Forgotten History of Domestic Debt and Default | |
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| The Stylized Facts of Domestic Debt and Default | |
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| Domestic and External Debt | |
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| Maturity, Rates of Return, and Currency Composition | |
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| Episodes of Domestic Default | |
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| Some Caveats Regarding Domestic Debt | |
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| Domestic Debt: The Missing Link Explaining External Default and High Inflation | |
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| Understanding the Debt Intolerance Puzzle | |
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| Domestic Debt on the Eve and in the Aftermath of External Default | |
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| The Literature on Inflation and the "Inflation Tax" | |
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| Defining the Tax Base: Domestic Debt or the Monetary Base? | |
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| The "Temptation to Inflate" Revisited | |
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| Domestic and External Default: Which Is Worse? Who Is Senior? | |
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| Real GDP in the Run-up to and the Aftermath of Debt Defaults | |
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| Inflation in the Run-up to and the Aftermath of Debt Defaults | |
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| The Incidence of Default on Debts Owed to External and Domestic Creditors | |
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| Summary and Discussion of Selected Issues | |
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| Banking Crises, Inflation, and Currency Crashes | |
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| Banking Crises | |
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| A Preamble on the Theory of Banking Crises | |
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| Banking Crises: An Equal-Opportunity Menace | |
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| Banking Crises, Capital Mobility, and Financial Liberalization | |
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| Capital Flow Bonanzas, Credit Cycles, and Asset Prices | |
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| Overcapacity Bubbles in the Financial Industry? | |
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| The Fiscal Legacy of Financial Crises Revisited | |
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| Living with the Wreckage: Some Observations | |
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| Default through Debasement: An "Old World Favorite" | |
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| Inflation and Modern Currency Crashes | |
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| An Early History of Inflation Crises | |
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| Modern Inflation Crises: Regional Comparisons | |
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| Currency Crashes | |
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| The Aftermath of High Inflation and Currency Collapses | |
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| Undoing Domestic Dollarization | |
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| The U.S. Subprime Meltdown and the Second Great Contraction | |
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| The U.S. Subprime Crisis: An International and Historical Comparison | |
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| A Global Historical View of the Subprime Crisis and Its Aftermath | |
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| The This-Time-Is-Different Syndrome and the Run-up to the Subprime Crisis | |
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| Risks Posed by Sustained U.S. Borrowing from the Rest of the World: The Debate before the Crisis | |
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| The Episodes of Postwar Bank-Centered Financial Crisis | |
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| A Comparison of the Subprime Crisis with Past Crises in Advanced Economies | |
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| Summary | |
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| The Aftermath of Financial Crises | |
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| Historical Episodes Revisited | |
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| The Downturn after a Crisis: Depth and Duration | |
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| The Fiscal Legacy of Crises | |
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| Sovereign Risk | |
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| Comparisons with Experiences from the First Great Contraction in the 1930s | |
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| Concluding Remarks | |
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| The International Dimensions of the Subprime Crisis: The Results of Contagion or Common Fundamentals? | |
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| Concepts of Contagion | |
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| Selected Earlier Episodes | |
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| Common Fundamentals and the Second Great Contraction | |
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| Are More Spillovers Under Way? | |
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| Composite Measures of Financial Turmoil | |
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| Developing a Composite Index of Crises: The BCDI Index | |
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| Defining a Global Financial Crisis | |
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| The Sequencing of Crises: A Prototype | |
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| Summary | |
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| What Have We Learned? | |
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| Reflections on Early Warnings, Graduation, Policy Responses, and the Foibles of Human Nature | |
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| On Early Warnings of Crises | |
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| The Role of International Institutions | |
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| Graduation | |
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| Some Observations on Policy Responses | |
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| The Latest Version of the This-Time-Is-Different Syndrome | |
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| Data Appendixes | |
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| Macroeconomic Time Series | |
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| Public Debt | |
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| Dates of Banking Crises | |
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| Historical Summaries of Banking Crises | |
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| Notes | |
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| References | |
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| Name Index | |
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| Subject Index | |