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When credit bites back: Leverage, business cycles and crises

Jordà, Òscar; Schularick, Moritz; Taylor, Alan - 2012

of the modern business cycle: financial-crisis recessions are more costly than normal recessions in terms of lost output …; and for both types of recession, more credit-intensive expansions tend to be followed by deeper recessions and slower …

Persistent link: https://www.econbiz.de/10010318835

The global financial crisis: how similar? How different? How costly?

Claessens, Stijn; Kose, M. Ayhan; Terrones, Marco E. - 2010

integrated global financial markets. Third, how costly are recessions that followed these types of crises? Although the latest … comparisons indicate that recessions associated with periods of deep financial disruptions result in much larger declines in real …

Persistent link: https://www.econbiz.de/10010273680

Output collapses and productivity destruction

Blyde, Juan S.; Daude, Christian; Fernández-Arias, Eduardo - 2009

This paper analyzes the long-run relationship between output collapses-defined defined as GDP falling substantially below trend - and total factor productivity (TFP), using a panel of 71 developed and developing countries during the period 1960-2003 to identify episodes of output collapse and...

Persistent link: https://www.econbiz.de/10010278252

Mortality and the Business Cycle: Evidence from Individual and Aggregated Data

van den Berg, Gerard J.; Gerdtham, Ulf-G.; von Hinke, … - 2017

There has been much interest recently in the relationship between economic conditions and mortality, with some studies showing that mortality is pro-cyclical, while others find the opposite. Some suggest that the aggregation level of analysis (e.g. individual vs. regional) matters. We use both...

Persistent link: https://www.econbiz.de/10013208785

COVID-19 and SMEs: A 2021 "time bomb"?

Gourinchas, Pierre-Olivier; Kalemli-Ozcan, Sebnem; … - 2021

This paper assesses the prospects of a 2021 time bomb in small and medium-sized enterprises (SME) failures triggered by the generous support policies enacted during the 2020 COVID-19 crisis. Policies implemented in 2020, on their own, do not create a 2021 time bomb for SMEs. Rather, business...

Persistent link: https://www.econbiz.de/10012653494

The saving and employment effects of higher job loss risk

Juelsrud, Ragnar E.; Wold, Ella Getz - 2019

recessions. …

Persistent link: https://www.econbiz.de/10012661549

Household Consumption Through Recent Recessions

Crossley, Thomas F.; Low, Hamish; O'Dea, Cormac - 2011

This paper examines trends in household consumption and saving behaviour in each of the last three recessions in the UK … expenditure than was seen in previous recessions, and the distributional pattern across individuals differs. The young have cut …

Persistent link: https://www.econbiz.de/10010500198

Saving on a Rainy Day, Borrowing for a Rainy Day

Alan, Sule; Crossley, Thomas; Low, Hamish - 2012

-cycle framework how individuals respond to recessions. Our focus is on the sharp increase in savings rates that have been observed in … the current and recent recessions. We show empirically that these saving spikes were short-lived and common to all working … age groups. We then study life-cycle models in which recessions involve one or more of: (i) an aggregate permanent …

Persistent link: https://www.econbiz.de/10010500212

Cross-border banking: Challenges for deposit insurance and financial stability in the European Union

Eisenbeis, Robert A.; Kaufman, George G. - 2007

This paper examines the implications that alternative regulatory structures may have for resolving failed banking institutions. We place our emphasis on the European Union (EU), which is both economically and financially large and has several features relating to cross-border banking in the form...

Persistent link: https://www.econbiz.de/10010292210

Home country versus cross-border negative externalities in barge banking organization failures and how to avoid them

Eisenbeis, Robert A. - 2006

This paper examines the negative externalities that may occur when a large bank fails, describes the nature of those externalities, and explores whether they may be greater in a case involving a large cross-border banking organization. The analysis suggests that the chief negative externalities...

Persistent link: https://www.econbiz.de/10010292288