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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
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
-post classification of recessions and non-recessions 95% of the time for the one-quarter forecast horizon and 87% of the time for the four …
Persistent link: https://www.econbiz.de/10011605301
Fiscal policy has become quite controversial in the post-Keynesian era, the debate over the Obama stimulus package being a contentious recent example. Some pundits go so far as to take the position that macroeconomic theory has failed to meaningfully progress in terms of providing useful...
Persistent link: https://www.econbiz.de/10010270872
The relationship between recessions and productivity has been the focus of an important body of theoretical and … productivity in the aftermath of recessions. Our method allows us to distinguish between frontier technology and (in …-)efficiency effects of recessions. We present international evidence for a panel of 70 countries for the 1960-2000 period. Our results …
Persistent link: https://www.econbiz.de/10010277823
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