Stories of the Twentieth Century for the Twenty-First

Stories of the Twentieth Century for the Twenty-First

July 26, 2011 | Pierre-Olivier Gourinchas and Maurice Obstfeld
This web appendix provides a detailed list of currency crises, systemic banking crises, and default episodes in the 20th century, focusing on emerging market economies (EMEs) and advanced economies. For EME currency crises, the criteria used are a 25% or greater nominal currency depreciation against the US dollar over a year, with a 10% annual rate of depreciation increase. Advanced economies' currency crises are dated according to Bordo et al. (2001), extending through 1997, with no true crises until 2008, except for Iceland in 2008. Systemic banking crises are dated from Laeven and Valencia (2010), with additional 'borderline' crises marked. Default episodes are dated from various sources, including Reinhart and Rogoff (2009), Cantor and Packer (1995), Chambers (2011), Moody’s (2009), and Sturzenegger and Zettelmeyer (2007). The tables provide a comprehensive overview of these crises, with specific episodes marked for further analysis.This web appendix provides a detailed list of currency crises, systemic banking crises, and default episodes in the 20th century, focusing on emerging market economies (EMEs) and advanced economies. For EME currency crises, the criteria used are a 25% or greater nominal currency depreciation against the US dollar over a year, with a 10% annual rate of depreciation increase. Advanced economies' currency crises are dated according to Bordo et al. (2001), extending through 1997, with no true crises until 2008, except for Iceland in 2008. Systemic banking crises are dated from Laeven and Valencia (2010), with additional 'borderline' crises marked. Default episodes are dated from various sources, including Reinhart and Rogoff (2009), Cantor and Packer (1995), Chambers (2011), Moody’s (2009), and Sturzenegger and Zettelmeyer (2007). The tables provide a comprehensive overview of these crises, with specific episodes marked for further analysis.
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