Debate on the “What should we have expected in terms of economic recovery?” question is raging on the internet (Reinhart and Rogoff 2012, Taylor 2012). Since publishing our widely-read column a few weeks ago, we have received several enquiries asking if we can apply the same benchmarks to evaluate the current performance of the UK economy. We now can.
Fact-checking financial recessions: US-UK update
Moritz Schularick, Alan Taylor, 24 October 2012
Recessions and small business access to credit: Lessons for Europe from interstate banking deregulation in the US
Mathias Hoffmann, Iryna Stewen, 19 February 2012
The European sovereign debt crisis is often viewed as a banking crisis in disguise (see, for instance, Mody and Sandri 2011 on this site). Policymakers are rightly concerned about the prospect that ever more cautious banks may eventually stop lending to small and medium-sized businesses (or enterprises, known as SMEs).
Calling recessions in real time
James D. Hamilton, 18 July 2010
Is the world economy about to experience a "double-dip" recession, going back into a new downturn before the recovery from the previous recession is even complete? Or, if there is a subsequent downturn, should it be described as a new, separate recession? The answer requires an objective characterisation of what we mean when we say the economy is in a recession.
Oil prices and the economic recession of 2007-08
James D. Hamilton, 16 June 2009
Big oil price increases that were associated with events such as the 1973-74 embargo by the Organisation of Arab Petroleum Exporting Countries, the Iranian Revolution in 1978, the Iran-Iraq War in 1980, and the First Persian Gulf War in 1990 were each followed by a global economic recession.
From recession to recovery: A long and hard road
Prakash Kannan, Marco E Terrones, Alasdair Scott , 6 May 2009
The advanced economies are experiencing a financial crisis and a highly synchronised recession, which is a very rare combination of events. This raises three questions; Are recessions and recoveries associated with financial crises different from others? What are the main features of globally synchronised recessions?
What Keynes should have said
Roger E. A. Farmer , 4 February 2009
For more than seventy years, policy makers have used Keynesian monetary and fiscal policies to control recessions (Keynes 1936). Although these policies are widely perceived to have been successful in stabilising the business cycle, academics gave up on Keynesian theory in the 1970s.
Are there cleansing effects of recessions? Entry and exit of manufacturing plants over the business cycle
Yoonsoo Lee, Toshihiko Mukoyama, 7 January 2008
Creative destruction is a major driving force of modern market economies.1 Firms enter and exit the marketplace, plants are built and destroyed, and workers change jobs and occupations.
- A tale of two depressions: What do the new data tell us? February 2010 updateEichengreen, O’Rourke
- The ECB’s stealth bailoutSinn
- Educated in America: College graduates and high school dropoutsHeckman, LaFontaine
- Eurozone breakup would trigger the mother of all financial crisesEichengreen
- Panic-driven austerity in the Eurozone and its implicationsDe Grauwe, Ji
DellaVigna, Durante, Knight, La Ferrara
Ostry, Berg, Tsangarides
Allen, Eichengreen, Evans
Greenwood, Guner, Kocharakov, Santos
CEPR Policy Research
- The buyer margins of firms' exportsCarballo, Ottaviano, Volpe
- Commodity and Equity Markets: Some Stylized Facts from a Copula ApproachDelatte, Lopez
- Ethnic Unemployment Rates and Frictional MarketsGobillon, Rupert, Wasmer
- Finance and Poverty: Evidence from IndiaAyyagari, Beck, Hoseini
- The Manipulation of Basel Risk-WeightsMariathasan, Merrouche
- Making city lights shine brighterYusuf, Leipziger
- The euro in the 'currency war'Bénassy-Quéré, Martin
- The roots of shadow bankingPerotti
- What’s wrong with Europe?Baldini, Manasse
- How the EZ crisis is permanently changing EU institutionsMicossi
- 21st Century Challenges: The Mobile Middle Class13 - 13 March 2014 / Royal Geographical Society, 1 Kensington Gore, SW7 London / Royal Geographical Society (with IBG)
- The 13th Annual GEP Postgraduate Conference 20141 - 2 May 2014 / Nottingham / Sponsored by Nottingham Centre for Research on Globalisation and Economic Policy (GEP) University of Nottingham, United Kingdom
- Exchange Rates and External Adjustment2 - 3 June 2014 / Zurich / Swiss National Bank
- 13th Summer School in International Development Economics: Investment, Saving and Wellbeing in Developing Countries10 - 13 June 2014 / Palazzo Feltrinelli, Gargnano, Lake Garda (Italy) / Organisers: Centro Studi Luca d’Agliano, Centre for Economic Policy Research (CEPR), Paolo Baffi Center on International Markets, Money and Regulation, Department of Economics, Management and Quantitative Methods of the University of Milan, Department of Economics, Quantitative Methods and Business Strategies of the University of Milan Bic