Economic analysts were surprised by the collapse of the Thai baht in July 1997. In the months that followed, most of the so-called East Asian Tigers faced severe balance-of-payments crises, and a year later, in August 1998, the Russian ruble was devalued. As a result of this succession of crises, the economics profession rethought many of its views on macroeconomic management. Lessons were draw...

extended abstract introduction the fertility transition in iran has pass through different stages from 1972-2015.the total fertility rate (tfr) decreased from 7.7 in 1966 to around 6 in 1976.then it rose to 7 in 1980.tfr decline to 5.5 in 1988.in 1996,thetotal fertility rate reach to 2.8,more than 50% decline. tfr has declined further and reached 2.17 in 2000, and 1.9 in 2012 i.e. below replace...

The literature on costs of financial instability tends to focus on fiscal costs and the impact on GDP of banking crises. In this paper we analyse the effect of a banking or currency crisis on consumption. We show that consumption plays an important role in the macroeconomic adjustment following a financial crisis. Furthermore, the effect of a crisis is aggravated by high leverage, notably as sh...