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

Andrew Rose and Mark Spiegel

No 2011-02, Working Paper Series from Federal Reserve Bank of San Francisco

Abstract: We update Rose and Spiegel (2010a, 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 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: Global financial crisis; Econometric models (search for similar items in EconPapers)
Date: 2011
New Economics Papers: this item is included in nep-cba and nep-ifn
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Citations: View citations in EconPapers (170)

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Related works:
Journal Article: Cross-country causes and consequences of the crisis: An update (2011)
Working Paper: Cross-Country Causes and Consequences of the Crisis: An Update (2010)
Working Paper: Cross-Country Causes and Consequences of the Crisis: An Update (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedfwp:2011-02

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