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business and financial cycles. In particular, recessions associated with financial disruptions, notably house and equity price … busts, tend to be longer and deeper than other recessions. Conversely, while recoveries following asset price busts tend to …
Persistent link: https://www.econbiz.de/10010577693
The historical frequency of banking crises is similar in advanced and developing countries, with quantitative parallels in both the run-ups and the aftermath. We establish these regularities using a dataset spanning from the early 1800s to the present. Banking crises weaken fiscal positions,...
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In this paper, asset price bubbles in equities and housing that were developed from August 1987 to September 2008 are examined. Monetary policy reaction functions are estimated. Results revealed that, although not successful in pricking the bubble, the Federal Reserve System did follow a...
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linkages between different phases of business and financial cycles. In particular, recessions associated with financial … disruption episodes, notably house price busts, tend to be longer and deeper than other recessions. Conversely, recoveries …
Persistent link: https://www.econbiz.de/10009024488
which are typically followed by deeper recessions and slower recoveries. Housing finance has come to play a central role in …
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Two separate narratives have emerged in the wake of the Global Financial Crisis. One speaks of private financial excess and the key role of the banking system in leveraging and deleveraging the economy. The other emphasizes the public sector balance sheet over the private and worries about the...
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