Financial and Economic Downturns in OECD Countries

descriptionPublicationkeyboard_double_arrow_right Article , Other literature type , Research 01 Jan 2013 Austria English Publisher:Elsevier BVJournal:SSRN Electronic Journal (eissn: 1556-5068,

Copyright policy )

Authors: Haavio, Markus; Mendicino, Caterina; Punzi, Maria Teresa;

doi: 10.2139/ssrn.2370285 , 10.1080/13504851.2013.864025

handle: 10419/212275

Financial and Economic Downturns in OECD Countries

- Summary
- Subjects
- Metrics

Abstract

This article empirically studies the linkages between financial variable downturns and economic recessions. We present evidence that real asset prices tend to lead real cycles, while loan-to-GDP and loan-to-deposit ratios lag them. Using a probit anaylsis, we document that downturns in real asset prices, particularly real house prices, are useful leading indicators of economic recessions.

Country

Austria

Related Organizations

Banco de Portugal
Portugal
Bank of Finland
Finland
WU
Austria
European Central Bank
Germany
Vienna University of Economics and Business
Austria

View all View all

Keywords

G17, probit models, ddc:330, E37, C53, macro-financial linkages, turning point analysis, E32

Impact byBIP!

	selected citations These citations are derived from selected sources. This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).	5
	popularity This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.	Average
	influence This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).	Average
	impulse This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.	Average