A chronology of financial crises for Norway
Working paper
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http://hdl.handle.net/11250/163220Utgivelsesdato
2010-05Metadata
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Sammendrag
The paper offers a chronology of financial crises in Norway from her independence in
1814 till present times. Firstly, business cycles, covering almost two hundred years of
economic history are mapped. These reveal years of crises in the real economy. These
seem to coincide with most of the major financial crises. Secondly, the paper the
financial crises are described chronologically. Thirdly, the paper investigates key
patterns in credit and money volumes. It concludes that major financial crises
typically took place after substantial money and credit expansion causing financial
instability, loss of long term equilibriums, overheating and bubbles followed by severe meltdowns in the economy.
Utgiver
Norwegian School of Economics and Business Administration. Department of EconomicsSerie
Discussion paper2010:13