| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w18194 |
| 来源ID | Working Paper 18194 |
| Deep Recessions, Fast Recoveries, and Financial Crises: Evidence from the American Record | |
| Michael D. Bordo; Joseph G. Haubrich | |
| 发表日期 | 2012-06-28 |
| 出版年 | 2012 |
| 语种 | 英语 |
| 摘要 | Do steep recoveries follow deep recessions? Does it matter if a credit crunch or banking panic accompanies the recession? Moreover does it matter if the recession is associated with a housing bust? We look at the American historical experience in an attempt to answer these questions. The answers depend on the definition of a financial crisis and on how much of the recovery is considered. But in general recessions associated with financial crises are generally followed by rapid recoveries. We find three exceptions to this pattern: the recovery from the Great Contraction in the 1930s; the recovery after the recession of the early 1990s and the present recovery. The present recovery is strikingly more tepid than the 1990s. One factor we consider that may explain some of the slowness of this recovery is the moribund nature of residential investment, a variable that is usually a key predictor of recessions and recoveries. |
| 主题 | History ; Macroeconomic History |
| URL | https://www.nber.org/papers/w18194 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/575870 |
| 推荐引用方式 GB/T 7714 | Michael D. Bordo,Joseph G. Haubrich. Deep Recessions, Fast Recoveries, and Financial Crises: Evidence from the American Record. 2012. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w18194.pdf（514KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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