And as a rule, the deeper the banking system, the larger the disruption and the higher the costs.4 Recessions associated with financial crises are deeper than recessions that are not. The consequences in terms of employment are also severe. After the GFC, Ireland’s unemployment rate rose from 4.6 percent in 2006 to 15 per cent in 2012,5 with youth unemployment even higher.
In this regard, we are collecting information on the surveys conducted by other central banks. Among the surveys conducted by other central banks, we observe that some relate to household sector such as access to financial services, demand for housing, consumer confidence, credibility of monetary policy, etc.