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A Series of Unfortunate Events : Common Sequencing Patterns in Financial Crises

Reinhart, Carmen M. - 2012

in the summer of 2007 is unprecedented in the post World War II era and, as such, the most relevant comparison benchmark …

Persistent link: https://www.econbiz.de/10013108287

Recovery from Financial Crises : Evidence from 100 Episodes

Reinhart, Carmen - 2014

We examine the evolution of real per capita GDP around 100 systemic banking crises. Part of the costs of these crises owes to the protracted nature of recovery. On average, it takes about eight years to reach the pre-crisis level of income; the median is about 6 1⁄2 years. Five to six years...

Persistent link: https://www.econbiz.de/10013060679

The Causal Effect of Environmental Catastrophe on Long-Run Economic Growth : Evidence from 6,700 Cyclones

Hsiang, Solomon - 2014

pre-disaster trend, and do not recover within twenty years. Both rich and poor countries exhibit this response, with … suppression of annual growth rates spread across the fifteen years following disaster, generating large and significant cumulative … continuous exposure to disaster. Linking these results to projections of future cyclone activity, we estimate that under …

Persistent link: https://www.econbiz.de/10013049691

Managing Macroeconomic Crises

Frankel, Jeffrey A.; Wei, Shang-Jin - 2021

This study reviews broadly the experience of the last decade on crisis prevention and management. It seeks to draw greater attention to policy decisions that are made during the phase when capital inflows come to a sudden stop. Procrastination---the period of financing a balance of payments...

Persistent link: https://www.econbiz.de/10013232190

Deep Recessions, Fast Recoveries, and Financial Crises : Evidence from the American Record

Bordo, Michael D. - 2012

Do steep recoveries follow deep recessions? Does it matter if a credit crunch or banking panic accompanies the recession? Moreover does it matter if the recession is associated with a housing bust? We look at the American historical experience in an attempt to answer these questions. The answers...

Persistent link: https://www.econbiz.de/10013104399

Productivity and Potential Output Before, During, and after the Great Recession

Fernald, John G. - 2014

U.S. labor and total-factor productivity growth slowed prior to the Great Recession. The timing rules out explanations that focus on disruptions during or since the recession, and industry and state data rule out "bubble economy" stories related to housing or finance. The slowdown is located in...

Persistent link: https://www.econbiz.de/10013052125

Economic Recovery from the Argentine Great Depression : Institutions, Expectations, and the Change of Macroeconomic Regime

della Paolera, Gerardo; Taylor, Alan M. - 2021

This work explores how Argentina overcame the Great Depression and asks whether active macroeconomic interventions made any contribution to the recovery. In particular, we study Argentine macroeconomic policy as it deviated from gold-standard orthodoxy after the final suspension of...

Persistent link: https://www.econbiz.de/10013221515

International Recessions

Perri, Fabrizio - 2011

The 2008-2009 crisis was characterized by an unprecedented degree of international synchronization as all major industrialized countries experienced large macroeconomic contractions around the date of Lehman bankruptcy. At the same time countries also experienced large and synchronized...

Persistent link: https://www.econbiz.de/10013122646

The Great Trade Collapse

Bems, Rudolfs - 2012

We survey recent literature on the causes of the collapse in international trade during the 2008-2009 global recession. We argue that the evidence points to the collapse in aggregate expenditure, concentrated on trade-intensive durable goods, as the main driver of the trade collapse. Inventory...

Persistent link: https://www.econbiz.de/10013096140

Capital Controls and Recovery from the Financial Crisis of the 1930s

Mitchener, Kris James - 2014

We examine the first widespread use of capital controls in response to a global or regional financial crisis. In particular, we analyze whether capital controls mitigated capital flight in the 1930s and assess their causal effects on macroeconomic recovery from the Great Depression. We find...

Persistent link: https://www.econbiz.de/10013052499

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