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~isPartOf:"CESifo working papers"
~person:"Castelnuovo, Efrem"
~subject:"Auslandsinvestition"
~subject:"Theorie"
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Liquidity traps and large-scale financial crises
Caggiano, Giovanni
;
Castelnuovo, Efrem
;
Damette, Olivier
; …
-
2018
This paper estimates a nonlinear Threshold-VAR to investigate if a Keynesian liquidity trap due to a speculative motive was in place in the U.S. Great Depression and the recent Great Recession. We find clear evidence in favor of a breakdown of the liquidity effect after an unexpected increase in...
Persistent link: https://www.econbiz.de/10011863616
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Global uncertainty
Caggiano, Giovanni
;
Castelnuovo, Efrem
-
2021
the
world
output loss that materialized during the great recession would have been 13% lower in absence of GFU shocks. We … after GFU shocks, the larger the
world
output contraction is. …
Persistent link: https://www.econbiz.de/10012431805
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