# kaal:claim:2273857-024

**Claim.** Bank crises share four core common elements: an exogenous shock, a favorable response to that shock, the dissipation of favorable conditions, and a systemic rise in bank failures.

**Type.** definitional  **Support.** evidenced

**Holds when.**

- banking crises generally

**Source quote.**

> The common characteristics include the following core elements: (i) an exogenous shock, (ii) a favorable response to the exogenous shock, (iii) favorable conditions dissipate, and (iv) a systemic rise in bank failures.

**From.** Wulf A. Kaal, *Dynamic Regulation of the Financial Services Industry* (2013), II.1 Common Denominators of Financial Crises, page 13

**Cite as.** Wulf A. Kaal, Dynamic Regulation of the Financial Services Industry (2013). SSRN: https://ssrn.com/abstract=2273857

**Verify.** sha256 of source PDF `e7cb3dea40593135acc99a9b00690138fe01020514ebf388f5140e1b0e59e82a` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202013%20-%20Dynamic%20Regulation%20of%20the%20Financial%20Services%20Industry.pdf

**Topics.** systemic-risk

**Keywords.** financial-crises, crisis-anatomy, bank-failures, exogenous-shock

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