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Financial Cycles; What? How? When?
Terrones, Marco; Kose, M. Ayhan; Claessens, Stijn - International Monetary Fund (IMF) - 2011
This paper provides a comprehensive analysis of financial cycles using a large database covering 21 advanced countries over the period 1960:1-2007:4. Specifically, we analyze cycles in credit, house prices, and equity prices. We report three main results. First, financial cycles tend to be long...
Persistent link: https://www.econbiz.de/10009019580
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How Do Business and Financial Cycles Interact?
Terrones, Marco; Kose, M. Ayhan; Claessens, Stijn - International Monetary Fund (IMF) - 2011
linkages between different phases of business and financial cycles. In particular, recessions associated with financial … disruption episodes, notably house price busts, tend to be longer and deeper than other recessions. Conversely, recoveries …
Persistent link: https://www.econbiz.de/10009019595
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How Do Business and Financial Cycles Interact?
Claessens, Stijn; Kose, Ayhan; Terrones, Marco E - C.E.P.R. Discussion Papers - 2011
linkages between different phases of business and financial cycles. In particular, recessions associated with financial … disruption episodes, notably house price busts, tend to be longer and deeper than other recessions. Conversely, recoveries …
Persistent link: https://www.econbiz.de/10009024488
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Financial Crises Explanations, Types, and Implications
Claessens, Stijn; Kose, M. Ayhan - International Monetary Fund (IMF) - 2013
This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper...
Persistent link: https://www.econbiz.de/10011123845
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How do business and financial cycles interact?
Claessens, Stijn; Kose, M. Ayhan; Terrones, Marco E. - In: Journal of International Economics 87 (2012) 1, pp. 178-190
business and financial cycles. In particular, recessions associated with financial disruptions, notably house and equity price … busts, tend to be longer and deeper than other recessions. Conversely, while recoveries following asset price busts tend to …
Persistent link: https://www.econbiz.de/10010577693
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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
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The Global Financial Crisis:How Similar? How Different? How Costly?
Claessens, Stijn; Kose, M. Ayhan; Terrones, Marco E. - İktisat Bölümü, İktisadi ve İdari Bilimler Fakültesi - 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/10008631338
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Lessons and Policy Implications From the Global Financial Crisis
Claessens, Stijn; Laeven, Luc; Igan, Deniz; … - International Monetary Fund (IMF) - 2010
The ongoing global financial crisis is rooted in a combination of factors common to previous financial crises and some new factors. The crisis has brought to light a number of deficiencies in financial regulation and architecture, particularly in the treatment of systemically important financial...
Persistent link: https://www.econbiz.de/10008519478
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What Happens During Recessions, Crunches, and Busts?
Terrones, Marco; Kose, M. Ayhan; Claessens, Stijn - International Monetary Fund (IMF) - 2008
implications of 122 recessions, 112 (28) credit contraction (crunch) episodes, 114 (28) episodes of house price declines (busts … the severity and duration of recessions. Specifically, we find evidence that recessions associated with credit crunches … and house price busts tend to be deeper and longer than other recessions. JEL Classification Numbers: E32; E44; E51; F42 …
Persistent link: https://www.econbiz.de/10005769300
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What Happens During Recessions, Crunches and Busts?
Claessens, Stijn; Kose, Ayhan; Terrones, Marco E - C.E.P.R. Discussion Papers - 2008
implications of 122 recessions, 112 (28) credit contraction (crunch) episodes, 114 (28) episodes of house price declines (busts … the severity and duration of recessions. Specifically, we find evidence that recessions associated with credit crunches … and house price busts tend to be deeper and longer than other recessions. …
Persistent link: https://www.econbiz.de/10005497835