Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/106800 
Erscheinungsjahr: 
2015
Schriftenreihe/Nr.: 
Kiel Working Paper No. 1984
Verlag: 
Kiel Institute for the World Economy (IfW), Kiel
Zusammenfassung: 
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.
Schlagwörter: 
business cycle
recovery
banking crisis
housing crisis
JEL: 
E32
C33
Dokumentart: 
Working Paper

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