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Bakas, D. 
ORCID: 0000-0003-4771-4505 and Mendieta-Muñoz, I.,
2020.
Financial crises and economic recovery: cross-country heterogeneity and cross-sectional dependence.
Economics Letters, 195: 109435.
ISSN 1873-7374
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Abstract
This paper estimates the impulse responses of output to financial crises using a local projections panel estimator that accounts for cross-country heterogeneity and cross-sectional dependence. Using a long span of data (1870–2016) for a group of 17 advanced economies we show that once we control for unobserved common factors and parameter heterogeneity in the panel, there is strong evidence of economic recovery within the first 10 years after a financial crisis.
| Item Type: | Journal article | ||||||
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| Publication Title: | Economics Letters | ||||||
| Creators: | Bakas, D. and Mendieta-Muñoz, I. | ||||||
| Publisher: | Elsevier | ||||||
| Date: | October 2020 | ||||||
| Volume: | 195 | ||||||
| ISSN: | 1873-7374 | ||||||
| Identifiers: |
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| Divisions: | Schools > Nottingham Business School | ||||||
| Record created by: | Jonathan Gallacher | ||||||
| Date Added: | 05 Aug 2020 11:57 | ||||||
| Last Modified: | 24 Jul 2022 03:00 | ||||||
| URI: | https://irep.ntu.ac.uk/id/eprint/40333 |
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