Why Were Banks Better Off in the 2001 Recession?

7 Pages Posted: 6 Oct 2004

Abstract

In a sharp turnaround from their fortunes in the 1990-91 recession, banks came through the 2001 recession reasonably well. A look at industry and economy-wide developments in the intervening years suggests that banks fared better largely because of more effective risk management. In addition, they benefited from a decline in short-term interest rates and the relative mildness of the 2001 downturn.

Keywords: risk management, bank performance, risk-based pricing, diversification

JEL Classification: E32, G21, G28

Suggested Citation

Schuermann, Til, Why Were Banks Better Off in the 2001 Recession?. Current Issues in Economics and Finance, Vol. 10, No. 1, January 2004. Available at SSRN: https://ssrn.com/abstract=601145

Til Schuermann (Contact Author)

Oliver Wyman ( email )

1166 6th Avenue
New York City, NY
United States

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