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Cross-country causes and consequences of the crisis: An update

Andrew Rose () and Mark Spiegel ()

European Economic Review, 2011, vol. 55, issue 3, 309-324

Abstract: We update (Rose and Spiegel, forthcoming) and (Rose and Spiegel, 2010) 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 and looser credit market regulation 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.

Keywords: Growth; Recession; Current; account; GDP; Empirical; Data; Cross-section; Early; warning (search for similar items in EconPapers)
Date: 2011
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Related works:
Working Paper: Cross-country causes and consequences of the crisis: an update (2011) Downloads
Working Paper: Cross-Country Causes and Consequences of the Crisis: An Update (2010) Downloads
Working Paper: Cross-Country Causes and Consequences of the Crisis: An Update (2010) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:eee:eecrev:v:55:y:2011:i:3:p:309-324

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