Showing 1 - 10 of 102
In this paper, we develop a financial stress index for France that can be used as a real-time composite indicator for the state of financial stability in France. We take 17 financial variables from different market segments and extract a common stress component using a dynamic approximate factor...
Persistent link: https://www.econbiz.de/10010292635
recessions (depth, steepness and duration) in the case of the Mexican states employment during the 2001-2003 and 2008 …-2009 recessions. The original models are extended to include the effects of external and fiscal shocks, as measured by the annual … steepness of prior recessions (as measured by the percentage accumulated drop and the monthly average growth rate of employment …
Persistent link: https://www.econbiz.de/10011400606
recessions. If benefits are too generous, however, the programs can lengthen unemployment and raise the unemployment rate. The …
Persistent link: https://www.econbiz.de/10011404836
It is widely suggested that there is some relationship between banking crises and recessions. We assess whether there … is evidence for interdependency between recessions and banking crises using both non-parametric tests and unconditional … predict banking crises and recessions and if these variables can explain the previously observed interdependence. Inclusion of …
Persistent link: https://www.econbiz.de/10010323565
Two separate narratives have emerged in the wake of the Global Financial Crisis. One speaks of private financial excess and the key role of the banking system in leveraging and deleveraging the economy. The other emphasizes the public sector balance sheet over the private and worries about the...
Persistent link: https://www.econbiz.de/10010328746
-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/10010331007
This paper examines trends in household consumption and saving behaviour in each of the last three recessions in the UK … cutbacks in expenditure - with a greater reliance on cuts to nondurable expenditure than was seen in previous recessions. We … show that, both inside and outside recessions, the extent to which the growth in durable purchases is more volatile than …
Persistent link: https://www.econbiz.de/10010331050
This paper analyses the dynamics of personal insolvencies in Germany and the UK, focusing on the recent recession. These countries are particularly interesting as they are both member countries of the European Union, yet have completely different approaches to deal with overindebted individuals....
Persistent link: https://www.econbiz.de/10011564969
Recessions are complex events that affect personal health and behavior via various potentially opposing mechanisms …. While recessions are known to have negative effects on mental health and lead to an increase in suicides, it has been proven … that they reduce mortality rates. A general health policy agenda in relation to recessions remains ambiguous due to the …
Persistent link: https://www.econbiz.de/10011573673
This paper studies the informational content of the slope of the yield curve as a predictor of recessions in the euro … outperforms all the other spreads in predicting recessions in the euro area. The result is con¯rmed when the au …
Persistent link: https://www.econbiz.de/10011604340