The Resource The great recession : a self-fulfilling global panic, Philippe Bacchetta, Eric van Wincoop, (electronic resource)

The great recession : a self-fulfilling global panic, Philippe Bacchetta, Eric van Wincoop, (electronic resource)

Label
The great recession : a self-fulfilling global panic
Title
The great recession
Title remainder
a self-fulfilling global panic
Statement of responsibility
Philippe Bacchetta, Eric van Wincoop
Creator
Contributor
Author
Language
eng
Summary
While the 2008-2009 financial crisis originated in the United States, we witnessed steep declines in output, consumption and investment of similar magnitudes around the globe. This raises two questions. First, given the observed strong home bias in goods and financial markets, what can account for the remarkable global business cycle synchronicity during this period? Second, what can explain the difference relative to previous recessions, where we witnessed far weaker co-movement? To address these questions, we develop a two-country model that allows for self-fulfilling business cycle panics. We show that a business cycle panic will necessarily be synchronized across countries as long as there is a minimum level of economic integration. Moreover, we show that several factors generated particular vulnerability to such a global panic in 2008: tight credit, the zero lower bound, unresponsive fiscal policy and increased economic integration
Member of
Cataloging source
IT-FiEUI
http://library.link/vocab/creatorName
Bacchetta, Philippe
Illustrations
illustrations
Index
no index present
Literary form
non fiction
Nature of contents
bibliography
http://library.link/vocab/relatedWorkOrContributorName
  • Van Wincoop, Eric
  • Centre for Economic Policy Research (Great Britain)
Series statement
CEPR discussion paper
Series volume
no. 9487
Label
The great recession : a self-fulfilling global panic, Philippe Bacchetta, Eric van Wincoop, (electronic resource)
Link
http://www.cepr.org.ezproxy.eui.eu/content/discussion-papers
Instantiates
Publication
Note
"May 2013"
Bibliography note
Includes bibliographical references (pages 44-47)
Carrier category
unspecified
Carrier category code
zu
Carrier MARC source
rdacarrier.
Content category
text
Content type code
txt
Content type MARC source
rdacontent.
Control code
FIEb17482604
Extent
45 pages
Media category
computer
Media MARC source
rdamedia.
Media type code
c
Other physical details
illustrations.
System control number
(OCoLC)845058231
Label
The great recession : a self-fulfilling global panic, Philippe Bacchetta, Eric van Wincoop, (electronic resource)
Link
http://www.cepr.org.ezproxy.eui.eu/content/discussion-papers
Publication
Note
"May 2013"
Bibliography note
Includes bibliographical references (pages 44-47)
Carrier category
unspecified
Carrier category code
zu
Carrier MARC source
rdacarrier.
Content category
text
Content type code
txt
Content type MARC source
rdacontent.
Control code
FIEb17482604
Extent
45 pages
Media category
computer
Media MARC source
rdamedia.
Media type code
c
Other physical details
illustrations.
System control number
(OCoLC)845058231

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