Montagnoli, A. orcid.org/0000-0002-8260-4531 and Moro, M. (2018) The cost of banking crises: new evidence from life satisfaction data. Kyklos, 71 (2). pp. 279-309. ISSN 0023-5962
Abstract
It is known that banking crises produce large economic costs. Yet might their consequences be even more far‐reaching? We investigate an issue as yet largely unexplored and provide some of the first evidence that banking crises also lead to major, widespread, and lasting psychological losses. We estimate the costs of banking crises with individual life satisfaction; we show that these extend beyond GDP declines and other macroeconomic and financial leakages. For the 2007‐8 financial crisis, we find some evidence that the losses are larger for those countries that had previously experienced a credit boom.
Metadata
Item Type: | Article |
---|---|
Authors/Creators: |
|
Copyright, Publisher and Additional Information: | © 2018 The Authors Kyklos Published by John Wiley & Sons Ltd. This is an open access article under the terms of the Creative Commons Attribution License (https://creativecommons.org/licenses/by/4.0/), which permits use, distribution and reproduction in any medium, provided the original work is properly cited. |
Dates: |
|
Institution: | The University of Sheffield |
Academic Units: | The University of Sheffield > Faculty of Social Sciences (Sheffield) > Department of Economics (Sheffield) |
Depositing User: | Symplectic Sheffield |
Date Deposited: | 05 Oct 2017 13:45 |
Last Modified: | 12 Apr 2024 15:18 |
Status: | Published |
Publisher: | Wiley |
Refereed: | Yes |
Identification Number: | 10.1111/kykl.12170 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:121946 |