NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

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

Carmen M. Reinhart

NBER Working Paper No. 21350
Issued in July 2015
NBER Program(s):   IFM   ME

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.

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Document Object Identifier (DOI): 10.3386/w21350

Published: Carmen M. Reinhart, 2015. "The Antecedents and Aftermath of Financial Crises as Told by Carlos F. Díaz-Alejandro," ECONOMIA JOURNAL OF THE LATIN AMERICAN AND CARIBBEAN ECONOMIC ASSOCIATION, ECONOMIA JOURNAL OF THE LATIN AMERICAN AND CARIBBEAN ECONOMIC ASSOCIATION, vol. 0(Fall 2015), pages 187-217, October. citation courtesy of

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