European Parliament Library

How Do Business and Financial Cycles Interact?, Marco Terrones, Ayhan Kose, Stijn Claessens

Abstract
This paper analyzes the interactions between business and financial cycles using an extensive database of over 200 business and 700 financial cycles in 44 countries for the period 1960:1-2007:4. Our results suggest that there are strong linkages between different phases of business and financial cycles. In particular, recessions associated with financial disruption episodes, notably house price busts, tend to be longer and deeper than other recessions. Conversely, recoveries associated with rapid growth in credit and house prices tend to be stronger. These findings emphasize the importance of developments in credit and housing markets for the real economy
Table Of Contents
Cover Page; Title Page; Copyright Page; Contents; Executive Summary; Executive Summary Figure A. Interactions between Business and Financial Cycles; I. Introduction; II. Database and Methodology; A. Database; B. Methodology; III. Business and Financial Cycles: Basic Features; A. Business Cycles: Recessions and Recoveries; 1. Business Cycles: Basic Features; B. Financial Cycles: Upturns and Downturns; 2A. Financial Downturns: Basic Features; 2B. Financial Upturns: Basic Features; B2. Distribution of Duration and Amplitude: Credit Cycles
Language
eng
Literary Form
non fiction
Note
Description based upon print version of record
Physical Description
1 online resource (81 p.)
Specific Material Designation
remote
Form Of Item
online
Isbn
9781283565783

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