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The macroeconomic policy challenges of balance sheet recession : lessons from Japan for the European crisis

Schnabl, Gunther - 2013

The paper compares the boom-and-bust cycles in Japan and Europe with respect to the reasons for excessive booms, the … well as gradual real income losses, the economic policy implication for Japan and Europe is the timely exit from the … current crisis therapies. -- Japan ; Europe ; bubble economy ; European crisis ; low interest rate policy ; government debt …

Persistent link: https://www.econbiz.de/10009743745

Europe's great depression : coordination failure after the first World War

Wolf, Nikolaus - 2010

In this paper I survey and reinterpret the extensive literature on Europe's Great Depression. I argue that Europe could … policies could be effective. -- Great Depression ; Europe ; coordination failure …

Persistent link: https://www.econbiz.de/10008696770

Switching-track after the great recession

Vinci, Francesca; Licandro, Omar - 2021

We propose a theoretical framework to reconcile episodes of V-shaped and L-shaped recovery, encompassing the behaviour of the U.S. economy before and after the Great Recession. In a DSGE model with endogenous growth, negative demand shocks destroy productive capacity, moving GDP to a lower...

Persistent link: https://www.econbiz.de/10012533939

Deposit insurance, regulatory forbearance and economic growth : implications for the Japanese banking crisis

Dekle, Robert; Kletzer, Kenneth - 2004

through the 1990s. We also test our maintained hypothesis of rational expectations using asset price data for Japan over the …

Persistent link: https://www.econbiz.de/10011402648

Will stability last?

Martin, Will (contributor); Rowthorn, Bob (contributor) - 2004

the last decade. Using stylised models of the economies of the US, Euro area, UK and Japan, we argue that economic …

Persistent link: https://www.econbiz.de/10002521030

Overvalued : Swedish monetary policy in the 1930s

Rathke, Alexander; Straumann, Tobias; Woitek, Ulrich - 2011

This paper reconsiders the role of monetary policy in Sweden's strong recovery from the Great Depression. The Riksbank in the 1930s is sometimes seen as an example of a central bank that was relatively innovative in terms of the conduct of monetary policy. To consider this analytically, we...

Persistent link: https://www.econbiz.de/10009489289

Distributional consequences of labor-demand shocks : the 2008-09 recession in Germany

Bargain, Olivier; Immervoll, Herwig; Peichl, Andreas; … - 2011

The distributional consequences of the recent economic crisis are still broadly unknown. While it is possible to speculate which groups are likely to be hardest-hit, detailed distributional studies are still largely backward-looking due to a lack of real-time microdata. This paper studies the...

Persistent link: https://www.econbiz.de/10009011947

Do weak institutions prolong crises? : on the identification, characteristics, and duration of declines during economic slumps

Bluhm, Richard; Crombrugghe, Denis de; Szirmai, Adam - 2014

This paper defines economic slumps as sequences of structural breaks exhibiting a specific pattern. We identify 58 such episodes between 1950 and 2008 among 138 countries, and then examine the phases of decline and their duration. In some countries declines last extremely long, and we put...

Persistent link: https://www.econbiz.de/10010234524

Policy risk and the business cycle

Born, Benjamin; Pfeifer, Johannes - 2013 - This version: July 11, 2013, First Version: December 2010

The argument that policy risk, i.e., uncertainty about monetary and fiscal policy, has been holding back the economic recovery in the U.S. during the Great Recession has a large popular appeal. We analyze the role of policy risk in explaining business cycle fluctuations by using an estimated New...

Persistent link: https://www.econbiz.de/10009772961

Entrepreneurship, economic conditions, and the Great Recession

Fairlie, Robert W. - 2013

The "Great Recession" resulted in many business closings and foreclosures, but what effect did it have on business formation? On the one hand, recessions decrease potential business income and wealth, but on the other hand they restrict opportunities in the wage/salary sector leaving the net...

Persistent link: https://www.econbiz.de/10009712435