The Antecedents and Aftermath of Financial Crises as Told by Carlos F. Díaz Alejandro

40 Pages Posted: 13 Jul 2015

See all articles by Carmen Reinhart

Carmen Reinhart

Harvard University, Harvard Kennedy School (HKS), Belfer Center for Science and International Affairs (BCSIA) ; Harvard University - Harvard Kennedy School (HKS)

Date Written: July 2015

Abstract

Some of the best-known papers of Carlos F. Díaz Alejandro were about Latin America's crises in the 1980s and 1930s. I will show data, figures and evidence here about the crises in the advanced economies 30 years later that fit the same narrative. His unadulterated words aptly describe modern problems across geographical borders and, in this case, income levels. This attests to his timeless insight and understanding. Because some of the observations he made have general applicability to the study of recurring patterns across crises, I have taken the liberty to label these as lessons. These are primarily lessons about what to avoid.

JEL Classification: B26, E5, E6, F3, G01

Suggested Citation

Reinhart, Carmen, The Antecedents and Aftermath of Financial Crises as Told by Carlos F. Díaz Alejandro (July 2015). CEPR Discussion Paper No. DP10705, Available at SSRN: https://ssrn.com/abstract=2630153

Carmen Reinhart (Contact Author)

Harvard University, Harvard Kennedy School (HKS), Belfer Center for Science and International Affairs (BCSIA) ( email )

79 JFK Street
Cambridge, MA 02138
United States
617-496-8643 (Phone)

Harvard University - Harvard Kennedy School (HKS) ( email )

79 John F. Kennedy Street
Cambridge, MA 02138
United States

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