Caprio, G. and D. Klingebiel (1996), “Bank Insolvencies: Cross-Country Experience”, World Bank Policy Research Working Paper, No. 1620. Diaz-Alejandro, C. (1985), “Goodbye Financial Repression, Hello Financial Crash”, Journal of Development Economics, September/October, 19, pp.1-24. Fisher, C. and C. Kent (1999), “Two Depressions, One Banking Collapse”, Reserve Bank of Australia Research Discussion Paper, forthcoming. Goodhart, C. (1985), The Evolution of Central Banks.
Private Consumption Deflator Four-quarter-ended percentage change %  %  OPEC I (Oct-73)  15  15  10  10 Australia  5  5 United States  0  -5  0  1960  1962  1964  1966  1968  1970  1972  1974  1976  -5  As I have argued elsewhere, this system worked reasonably well until the second half of the 1960s.