O'Reilly logo

The Second Great Contraction by Kenneth S. Rogoff, Carmen M. Reinhart

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

- 16 -

COMPOSITE MEASURES OFFINANCIAL TURMOIL

In this book we have emphasized the clustering of crises at several junctures both across countries and across different types of crises. A country experiencing an exchange rate crisis may soon find itself in banking and inflation crises, sometimes with domestic and external default to follow. Crises are also transmitted across countries through contagion or common factors, as we discussed in the previous chapter.

Until now, however, we have not attempted to construct any quantitative index that combines crises regionally or globally. Here, in keeping with the algorithmic approach we have applied to delineating individual financial crisis events, we will offer various types of indexes of financial ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required