Boysen-Hogrefe, Jens; Jannsen, Nils; Meier, Carsten-Patrick - 2015
We investigate whether recoveries following normal recessions differ from recoveries following recessions that are … level of output during the recovery, we find that normal recessions are followed by strong recoveries in advanced economies …. This bounce-back is absent following recessions associated with banking crises and housing crises. Consequently, the …