implications of 122 recessions, 112 (28) credit contraction (crunch) episodes, 114 (28) episodes of house price declines (busts … the severity and duration of recessions. Specifically, we find evidence that recessions associated with credit crunches … and house price busts tend to be deeper and longer than other recessions. …

the welfare costs of severe recessions are distributed across diffrrent household age groups. The model predicts that …

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 …

Recessions lead to short-term job loss, lower levels of happiness and decreasing income levels. There is growing … disturbing long-run effect of recessions: young people who leave school in the midst of recessions are significantly more likely …

which are typically followed by deeper recessions and slower recoveries. Housing finance has come to play a central role in …

a succession of three distinct phases: expansions, recessions and recoveries. We discuss alternative methods to identify …