Marion Kohler

This author does not work for the BIS.

May 2012

Other authors: Stephen G Cecchetti

BIS Working Papers   | No 379
Mar 2010

BIS Quarterly Review   | March 2010
Sep 2009

This essay was prepared for the joint BIS-ECB Workshop on "Monetary policy and financial stability", Basel, Switzerland, 10-11 September 2009. In this essay, we begin with a brief review of the pre-crisis consensus that provided the basis for stabilisation policy as it has been conducted since around 1980. Our main conclusion is obvious: we need to build economic models that integrate the financial sector in a serious way, accounting for the role of intermediaries with all of their linkages, both with each other and with the real economy. And, most importantly, these models must ...

Other authors: Stephen G Cecchetti and Piti Disyatat

Aug 2009

This paper was prepared for the Federal Reserve Bank of Kansas City's symposium at Jackson Hole, Wyoming, August 2009. An updated version of this paper has been posted on 14 September 2009. This paper studies the length, depth and output costs of a sample of 40 systemic banking crises in 35 countries since 1980 to assess the likely real impact of the current crisis. Most, but not all, systemic banking crises in our sample coincide with ...

Other authors: Stephen G Cecchetti and Christian Upper