Part I. Introduction and Description of Financial Crises -- Financial crises : explanations, types, and implications / Stijn Claessens and M. Ayhan Kose -- Systemic banking crises / Luc Laeven and Fabian Valencia -- Part II. Lessons in Crisis Prevention and Management -- Financial and sovereign debt crises : some lessons learned and those forgotten / Carmen M. Reinhart and Kenneth S. Rogoff -- Procyclicality and the search for early warning indicators / Hyun Song Shin -- Resilience in Latin America : lessons from macroeconomic management and financial policies / Jose De Gregorio -- External imbalances and financial crises / Alan M. Taylor -- Part III. Short Term Effects : Crises, Recessions, and Recoveries -- The global financial crisis : How similar? How different? How costly? / Stijn Claessens, M. Ayhan Kose, and Marco E. Terrones -- From recession to recovery : how soon and how strong? / Prakash Kannan, Alasdair Scott, and Marco E. Terrones -- Part IV: Medium-Term Effects : Economic Growth -- What's the damage? Medium-term output dynamics after financial crises / Abdul Abiad, Ravi Balakrishnan, Petya Koeva Brooks, Daniel Leigh, and Irina Tytell -- What have we learned about creditless recoveries? / Abdul Abiad, Giovanni Dell'Ariccia, and Bin Li -- Part V: Policy Measures to Prevent Booms, Mitigate Busts, and Avoid Financial Crises -- Policies for macro-financial stability : dealing with credit booms and busts / Giovanni Dell'Ariccia, Deniz Igan, Luc Laeven, and Hui Tong -- Policies for macro-financial stability : managing real estate booms and busts / Christopher Crowe, Giovanni Dell'Ariccia, Deniz Igan, and Pau Rabanal -- Resolution of banking crises : the good, the bad, and the ugly / Luc Laeven and Fabian Valencia -- How effective Is fiscal policy response in financial crises? / Emanuele Baldacci, Sanjeev Gupta, and Carlos Mulas-Granados -- PART VI: Policy Measures to Mitigate the Impact of Financial Crises; and the Restructuring of Banks and of Household and Sovereign Debt -- Crisis management and resolution : early lessons from the 2007-09 financial crisis / Stijn Claessens, Ceeyla Pazarbasioglu, Luc Laeven, Marc Dobler, Fabian Valencia, Oana Nedelescu, and Katharine Seal -- The economics of bank restructuring : understanding the options / Augustin Landier and Kenichi Ueda -- Principles of household debt restructuring / Luc Laeven and Thomas Laryea -- Dealing with household debt / Deniz Igan, Daniel Leigh, John Simon, and Petia Topalova -- Restructuring sovereign debt : lessons from recent history / Udaibir S. Das, Michael G. Papaioannou, and Christoph Trebesch.