On the severity of economic downturns: Lessons from cross-country evidence

Luca Agnello () and Carolin Nerlich

Economics Letters, 2012, vol. 117, issue 1, 149-155

Abstract: We measure the severity of recessions as a function of their amplitude and duration. Within a quantile regression framework, we assess what causes economic downturns to be more or less severe. We find that the most severe downturns have striking similarities regarding cumulated domestic credit and large current account deficits.

Keywords: Business cycle; Crises; Quantile regression (search for similar items in EconPapers)
JEL-codes: E3 E32 G01 (search for similar items in EconPapers)
Date: 2012
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (15)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0165176512002091
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:117:y:2012:i:1:p:149-155

DOI: 10.1016/j.econlet.2012.04.068

Access Statistics for this article

Economics Letters is currently edited by Economics Letters Editorial Office

More articles in Economics Letters from Elsevier
Bibliographic data for series maintained by Catherine Liu ().