Two key statistical features of finance markets are non-linearity and Non-Gaussianity. Between 2011 and 2012, Dag Tjøstheim coordinated the research of the project "Non-Guassian Time Series and Nonlin
We develop a model of banking crises which Is consistent with two important features of the data: First, banking crises are usually preceded by credit booms. Second, credit booms often do not result i