Title: Macroeconomic Effects of Swiss
Banking
Crises,1930-2004
Abstract: The
response
of the Swiss economy to banking crises from 1930-2004 is investigated
using
bank balance sheet and financial market data. GDP growth, the banking
sector
itself and credit conditions responded strongly to banking shocks, but
the
impact on GDP growth mitigated over the years. Since the end Bretton
Woods
the banking industry itself recovers much quicker than it used to do
while
credit conditions remain tight.
Author: Dirk
Drechsel