Cross-Country Causes and Consequences of the Crisis: An Update / Andrew K. Rose, Mark M. Spiegel.

Format:

Book

Author/Creator:

Rose, Andrew K.

Contributor:

National Bureau of Economic Research.

Spiegel, Mark M.

Series:

Working Paper Series (National Bureau of Economic Research) no. w16243.

NBER working paper series no. w16243

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Other Title:

Cross-Country Causes and Consequences of the Crisis

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2010.

Summary:

We update Rose and Spiegel (2009a, b) and search for simple quantitative models of macroeconomic and financial indicators of the "Great Recession" of 2008-09. We use a cross-country approach and examine a number of potential causes that have been found to be successful indicators of crisis intensity by other scholars. We check a number of different indicators of crisis intensity, and a variety of different country samples. While countries with higher income seemed to suffer worse crises, we find few clear reliable indicators in the pre-crisis data of the incidence of the Great Recession. Countries with current account surpluses seemed better insulated from slowdowns.

Notes:

Print version record

July 2010.