Hidden Bibliographic Details
| Other authors / contributors: | Ho, Giang, author.
International Monetary Fund, issuing body.
IMF Institute, issuing body.
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| ISBN: | 1451918674
9781451918670
1462300251
9781462300259
1451962231
9781451962239
1282845276
9781282845275
1452708681
9781452708683
9786612845277
6612845279
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| Notes: | Title from PDF title page (IMF Web site, viewed January 29, 2010).
At head of title: IMF Institute.
"January 2010."
Includes bibliographical references (pages 26-28).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2011.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
English.
digitized 2011 HathiTrust Digital Library committed to preserve
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| Summary: | A common legacy of banking crises is a large increase in government debt, as fiscal resources are used to shore up the banking system. Do crisis response strategies that commit more fiscal resources lower the economic costs of crises? Based on evidence from a sample of 40 banking crises we find that the answer is negative. In fact, policies that are riskier for the government budget are associated with worse, not better, post-crisis performance. We also show that parliamentary political systems are more prone to adopt bank rescue measures that are costly for the government budget. We take advantage of this relationship to instrument the policy response, thereby addressing concerns of joint endogeneity. We find no evidence that endogeneity is a source of bias.
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| Other form: | Online version: Detragiache, Enrica. Responding to banking crises. [Washington, D.C.] : International Monetary Fund, ©2010
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| Standard no.: | 10.5089/9781451918670.001
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