The facts are now well known. The largest banks in Cyprus are insolvent, but too big for the government of Cyprus to save – at least if it wanted to avoid the ‘double drowning’ fate of Ireland. The government, trying to rescue banks, found itself needing a rescue.
Deposit insurance after Iceland and Cyprus
Anne Sibert, 2 April 2013
Bank bailout guarantees and public debt
Angelo Baglioni, Umberto Cherubini, 1 December 2010
The turmoil currently taking place in Ireland is the direct consequence of the troubles affecting its banking system and the bailout guarantee provided by the Irish government.
On forbearance lending, bank bailouts, and distinguishing the walking wounded from the living dead
Max Bruche, Gerard Llobet, 9 August 2010
As a consequence of the global crisis, there are worries that many countries will slide into a Japanese-style decade of lost growth.
The impact of public guarantees on bank risk taking: Evidence from a natural experiment
Reint Gropp, Christian Gründl, Andre Güttler, 20 April 2010
Do public guarantees influence bank risk taking? Public guarantees in the wake of the global financial crisis have been widespread.
“Too big to fail” is no redemption song
Avinash Persaud, 10 February 2010
A new global governance was forged in the white heat of the financial crisis. The G7 gave way to the G20 (Eichengreen 2009). Leaders representing 80% of the world’s population met and were resolute in calling for a global policy response to the crisis.
The financial crisis: Financial trilemma in Europe
Dirk Schoenmaker, 19 December 2009
The single banking market was built on the premise that banks conduct the majority of their business at home and only branch out to other EU countries on a modest scale. This premise is no longer true. Some of the major European banks such as Deutsche Bank, BNP Paribas and UniCredit currently conduct more business cross-border than at home.
- A tale of two depressions: What do the new data tell us? February 2010 updateEichengreen, O’Rourke
- Educated in America: College graduates and high school dropoutsHeckman, LaFontaine
- Eurozone breakup would trigger the mother of all financial crisesEichengreen
- Panic-driven austerity in the Eurozone and its implicationsDe Grauwe, Ji
- Debt, deleveraging, and the liquidity trap: A new modelKrugman
Cadot, de Melo, 16 June 2014
Atkinson, Casarico, Voitchovsky
CEPR Business Cycle Dating Committee
CEPR Policy Research
- The buyer margins of firms' exportsCarballo, Ottaviano, Volpe
- Commodity and Equity Markets: Some Stylized Facts from a Copula ApproachDelatte, Lopez
- Ethnic Unemployment Rates and Frictional MarketsGobillon, Rupert, Wasmer
- Finance and Poverty: Evidence from IndiaAyyagari, Beck, Hoseini