Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/30068 
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dc.contributor.authorBoysen-Hogrefe, Jensen
dc.contributor.authorJannsen, Nilsen
dc.contributor.authorMeier, Carsten-Patricken
dc.date.accessioned2010-02-17-
dc.date.accessioned2010-02-26T13:28:29Z-
dc.date.available2010-02-26T13:28:29Z-
dc.date.issued2010-
dc.identifier.urihttp://hdl.handle.net/10419/30068-
dc.description.abstractThis paper provides statistical evidence suggesting that in industrial countries, recessions that are associated with either banking crises or housing crises dampen output far more than ordinary recessions. Using a parametric panel framework that allows for a bounceback of the level of output in the course of the cyclical recovery, we find that ordinary recessions are followed by strong recoveries that make up for almost all the preceding shortfall in output. This bounceback tends to be significantly smaller following recessions associated with banking crises or housing crises. Our paper corroborates the practice of focusing exclusively on severe crises used in an emerging macroeconomic literature and integrates it with the earlier literature on recessions and recoveries.en
dc.language.isoengen
dc.publisher|aKiel Institute for the World Economy (IfW) |cKielen
dc.relation.ispartofseries|aKiel Working Paper |x1586en
dc.subject.jelE32en
dc.subject.jelC33en
dc.subject.ddc330en
dc.subject.keywordBusiness cycleen
dc.subject.keywordbanking crisisen
dc.subject.keywordhousing crisisen
dc.subject.keywordpanel dataen
dc.subject.keywordasymmetryen
dc.subject.keywordpersistenceen
dc.titleThe ugly and the bad: banking and housing crises strangle output permanently, ordinary recessions do not-
dc.typeWorking Paperen
dc.identifier.ppn618787321en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:ifwkwp:1586en

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