Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/100200 
Erscheinungsjahr: 
2013
Schriftenreihe/Nr.: 
ESRI Working Paper No. 464
Verlag: 
The Economic and Social Research Institute (ESRI), Dublin
Zusammenfassung: 
This paper considers the effect of systemic financial crises on aggregate consumption. Using a sample of 23 countries over 32 years, we find that consumption growth seems lower during banking crises, crises following credit booms and crises following house price booms. Moreover, the response to income growth seems to change, which may be due to credit constraints. In the long run, consumption appears to be linked to income, housing and other financial wealth.
Schlagwörter: 
Financial Crises
Consumption
Housing Wealth
Panel Error Correction Model
Weak Exogeneity
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
648.57 kB





Publikationen in EconStor sind urheberrechtlich geschützt.