This occasion marks Jean-Claude’s first official function outside of Frankfurt in his new position. Thank you for being with us today, Jean-Claude. We wish you every success in your new position.
before the current global crisis) developed by Ken Rogoff and Carmen Reinhard in 2008.1 Incidentally, both Norway and Sweden are also among Big Five. The Finnish crisis was a boom-bust cycle, which was to large extent caused by problems in the deregulation of the financial system in the 1980s.