Aizenman, Joshua; Pinto, Brian; Sushko, Vladyslav - Economics Department, University of California-Santa … - 2012
This paper examines how financial expansion and contraction cycles affect the broader economy throughtheir impact on eight real economic sectors in a panel of 28 countries over 1960-2005, paying particularattention to large, or sharp, contractions and magnifying and mitigating factors. We find...