Cross-country Causes and Consequences of the Crisis

Download or read book Cross-country Causes and Consequences of the Crisis written by Andrew K. Rose and published by . This book was released on 2010 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: We update Rose and Spiegel (2009a, 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 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 -- National Bureau of Economic Research web site.