Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/106800
Authors: 
Boysen-Hogrefe, Jens
Jannsen, Nils
Meier, Carsten-Patrick
Year of Publication: 
2015
Series/Report no.: 
Kiel Working Paper 1984
Abstract: 
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.
Subjects: 
business cycle
recovery
banking crisis
housing crisis
JEL: 
E32
C33
Document Type: 
Working Paper

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.