Diminished Expectations, Double Dips, and External Shocks: The Decade After the Fall
Carmen Reinhart and
Vincent Reinhart
MPRA Paper from University Library of Munich, Germany
Abstract:
In our recent paper, (Reinhart and Reinhart, 2010) we examine the behavior of real GDP (levels and growth rates), unemployment, inflation, bank credit, and real estate prices in a twenty one-year window surrounding selected adverse global and country-specific shocks or events. In this note, we summarize some of the main findings of that paper, including that economic growth is notably slower in the decade following a macroeconomic disruption. We extend those results to provide evidence of several post-crisis “double dips” in the years following the crisis. A faltering of economic recovery is not uncommon after a severe financial shock, although this can often be ascribed to exogenous events.
Keywords: recession; unemployment; financial crisis; growth; external shocks (search for similar items in EconPapers)
JEL-codes: E6 F3 N1 (search for similar items in EconPapers)
Date: 2010-09
New Economics Papers: this item is included in nep-cba and nep-fdg
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Citations: View citations in EconPapers (1)
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https://mpra.ub.uni-muenchen.de/45192/1/MPRA_paper_24969.pdf revised version (application/pdf)
Related works:
Journal Article: After the fall (2010) 
Working Paper: After the Fall (2010) 
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:24969
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