Bruno Ćorić; Vinko Muštra - In: International Journal of Sustainable Economy 6 (2014) 2, pp. 113-129
The collapse of the subprime mortgages market in August 2007 triggered the financial crises in the USA causing the first global recession since the World War II. The decades preceding this recession were a period of unusually mild volatility in the US economy. Lower output volatility over these...