Skip to content
FinObservatory

Crisis atlas / DNK

Denmark

35 distinct crisis events in 13 episodes, 1813–2021, from the union of five primary chronologies.

Debt profile: government debt trajectory and crisis-start levels →

29
Banking crises
5
Currency crises
1
Sovereign debt crises
35
Crisis events
1813–2021
Span

Crisis timeline

Every distinct (year, type) event, most recent first, with the chronologies flagging it. Start-year sources (GMD, JST) do not mark continuation years, so long episodes show lower agreement after their first year.

  1. 2021
    Bankingesrb1 source
  2. 2020
    Bankingesrb1 source
  3. 2014
    Bankingrr1 source
  4. 2013
    Bankingesrb, rr2 sources
  5. 2012
    Bankingesrb, rr2 sources
  6. 2011
    Bankingesrb, rr2 sources
  7. 2010
    Bankingesrb, rr2 sources
  8. 2009
    Bankingesrb, laeven_valencia, rr3 sources
  9. 2008
    Bankingesrb, gmd, jst, laeven_valencia, rr5 sources
  10. 1995
    Bankingesrb1 source
  11. 1994
    Bankingesrb1 source
  12. 1993
    Bankingesrb1 source
  13. 1992
    Bankingesrb, gmd, rr3 sources
  14. 1991
    Bankingesrb, rr2 sources
  15. 1990
    Bankingesrb, rr2 sources
  16. 1989
    Bankingesrb, rr2 sources
  17. 1988
    Bankingesrb, rr2 sources
  18. 1987
    Bankingesrb, jst, rr3 sources
  19. 1950
    Currencygmd, rr2 sources
  20. 1933
    Currencygmd, rr2 sources
  21. 1931
    Bankingrr1 source
  22. 1921
    Bankingjst, rr2 sources
  23. 1920
    Currencyrr1 source
  24. 1919
    Currencyrr1 source
    Bankinggmd1 source
  25. 1918
    Currencygmd, rr2 sources
  26. 1914
    Bankingrr1 source
  27. 1908
    Bankingjst1 source
  28. 1907
    Bankinggmd, rr2 sources
  29. 1902
    Bankingrr1 source
  30. 1885
    Bankinggmd, jst, rr3 sources
  31. 1877
    Bankinggmd, jst, rr3 sources
  32. 1857
    Bankinggmd, rr2 sources
  33. 1813
    Sovereign debtgmd, rr2 sources
    Bankinggmd, rr2 sources

Source: Global Macro Database 2026_06 (Müller, Xu, Lehbib & Chen 2025) | Jordà-Schularick-Taylor Macrohistory R6 | Laeven & Valencia (2020, 2026) | Reinhart-Rogoff via HBS BFFS | ECB/ESRB Financial Crises Database Methodology

Macro context around each episode

Inflation, central-bank policy rate, and government debt in a window of five years either side of each crisis episode (consecutive crisis years bridged across gaps of up to two years). Crisis years shaded.

1813

BankingSovereign debt
Inflation (% y/y)
Policy rate (%)
No data for this window
Govt debt (% of GDP)
No data for this window

1857

Banking
Inflation (% y/y)
Policy rate (%)
Govt debt (% of GDP)
No data for this window

1877

Banking
Inflation (% y/y)
Policy rate (%)
Govt debt (% of GDP)

1885

Banking
Inflation (% y/y)
Policy rate (%)
Govt debt (% of GDP)

1902

Banking
Inflation (% y/y)
Policy rate (%)
Govt debt (% of GDP)

1907–1908

Banking
Inflation (% y/y)
Policy rate (%)
Govt debt (% of GDP)

1914

Banking
Inflation (% y/y)
Policy rate (%)
Govt debt (% of GDP)

1918–1921

CurrencyBanking
Inflation (% y/y)
Policy rate (%)
Govt debt (% of GDP)

1931–1933

BankingCurrency
Inflation (% y/y)
Policy rate (%)
Govt debt (% of GDP)

1950

Currency
Inflation (% y/y)
Policy rate (%)
Govt debt (% of GDP)

1987–1995

Banking
Inflation (% y/y)
Policy rate (%)
Govt debt (% of GDP)

2008–2014

Banking2008–2009: fiscal cost 5.9% of GDP, output loss 35.0% of GDP(Laeven-Valencia 2026)
Inflation (% y/y)
Policy rate (%)
Govt debt (% of GDP)

2020–2021

Banking
Inflation (% y/y)
Policy rate (%)
Govt debt (% of GDP)

Source: Global Macro Database 2026_06 (Müller, Xu, Lehbib & Chen 2025) Inflation is % year over year; policy rate is the central-bank rate in %; government debt is % of GDP. Methodology