A NOTE ON BANKING AND HOUSING CRISES AND THE STRENGTH OF RECOVERIES

被引：4

作者：

Boysen-Hogrefe, Jens ^{[1
]}

Jannsen, Nils ^{[1
]}

Meier, Carsten-Patrick ^{[2
]}

机构：

[1] Kiel Inst World Econ, D-24100 Kiel, Germany

[2] Kiel Econ GmbH & Co KG, Kiel, Germany

来源：

MACROECONOMIC DYNAMICS | 2016年 / 20卷 / 07期

关键词：

Business Cycle; Recovery; Banking Crisis; Housing Crisis; BUSINESS-CYCLE; TIME-SERIES; RECESSIONS; DYNAMICS; OUTPUT; TRANSITORY;

D O I：

10.1017/S1365100515000164

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We investigate whether recoveries following normal recessions differ from recoveries following recessions that are associated with either banking crises or housing crises. Using a parametric panel framework that allows for a bounce-back in the 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 permanent output losses of recessions associated with banking crises and housing crises are considerably larger than those of normal recessions.

引用

页码：1924 / 1933

页数：10

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