HKS Affiliated Authors
Minos A. Zombanakis Professor of the International Financial System
Excerpt
Excerpt
From Financial Crash to Debt Crisis. Carmen M. Reinhart, Kenneth Rogoff, August 2011, Paper. "The economics profession has an unfortunate tendency to view recent experience in the narrow window provided by standard datasets.1 It is particularly distressing that so many cross-country analyses of financial crises rely on debt and default data going back only to 1980, when the underlying cycle can be a half century or more long, not just 30 years.2 This paper attempts to address this deficiency by employing a comprehensive new long-term historical database for studying debt and banking crises, inflation, and currency crashes..." Link