“…Australia 1989q4 Korea 1997q3 Belgium 2008q3 Netherlands 2002q1, 2008q3 Canada 1983q1 Norway 1988q2, 2008q3 Finland 1991q1 Spain 1978q1, 2008q3 France 1993q3, 2008q3 Sweden 1991q3, 2008q3 Germany 1977q1, 2008q3 Switzerland 1991q1, 2008q3 Italy 1994q1, 2008q3 UK 1973q4, 1990q3, 2007q3 Japan 1992q1 USA 1988q1, 2007q4 Notes: The table reports the periods at which the different countries in our sample experienced a financial crisis. The reported dates concern the start of the crisis and have been determined by relying on the crisis classifications suggested by Laeven and Valencia (2008, 2010, 2012, Rogoff (2008, 2009a,b) and Babecky et al (2012).…”