How do business and financial cycles interact? /:
This paper analyzes the interactions between business and financial cycles using an extensive database of over 200 business and 700 financial cycles in 44 countries for the period 1960:1-2007:4. Our results suggest that there are strong linkages between different phases of business and financial cyc...
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| Hauptverfasser: | , , |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
[Washington, D.C.] :
International Monetary Fund,
©2011.
|
| Schriftenreihe: | IMF working paper ;
WP/11/88. |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | This paper analyzes the interactions between business and financial cycles using an extensive database of over 200 business and 700 financial cycles in 44 countries for the period 1960:1-2007:4. Our results suggest that there are strong linkages between different phases of business and financial cycles. In particular, recessions associated with financial disruption episodes, notably house price busts, tend to be longer and deeper than other recessions. Conversely, recoveries associated with rapid growth in credit and house prices tend to be stronger. These findings emphasize the importance of developments in credit and housing markets for the real economy. |
| Beschreibung: | 1 online resource (55 pages) : illustrations |
| Bibliographie: | Includes bibliographical references. |
| ISBN: | 1283565781 9781283565783 9781462340477 1462340474 1455233137 9781455233137 |
| ISSN: | 2227-8885 ; |
Internformat
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| 100 | 1 | |a Claessens, Stijn, |e author. |0 http://id.loc.gov/authorities/names/n88012697 | |
| 245 | 1 | 0 | |a How do business and financial cycles interact? / |c Stijn Claessens, M. Ayhan Kose and Marco E. Terrones. |
| 260 | |a [Washington, D.C.] : |b International Monetary Fund, |c ©2011. | ||
| 300 | |a 1 online resource (55 pages) : |b illustrations | ||
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| 490 | 1 | |a IMF working paper, |x 2227-8885 ; |v WP/11/88 | |
| 520 | |a This paper analyzes the interactions between business and financial cycles using an extensive database of over 200 business and 700 financial cycles in 44 countries for the period 1960:1-2007:4. Our results suggest that there are strong linkages between different phases of business and financial cycles. In particular, recessions associated with financial disruption episodes, notably house price busts, tend to be longer and deeper than other recessions. Conversely, recoveries associated with rapid growth in credit and house prices tend to be stronger. These findings emphasize the importance of developments in credit and housing markets for the real economy. | ||
| 504 | |a Includes bibliographical references. | ||
| 505 | 0 | |a Cover Page; Title Page; Copyright Page; Contents; Executive Summary; Executive Summary Figure A. Interactions between Business and Financial Cycles; I. Introduction; II. Database and Methodology; A. Database; B. Methodology; III. Business and Financial Cycles: Basic Features; A. Business Cycles: Recessions and Recoveries; 1. Business Cycles: Basic Features; B. Financial Cycles: Upturns and Downturns; 2A. Financial Downturns: Basic Features; 2B. Financial Upturns: Basic Features; B2. Distribution of Duration and Amplitude: Credit Cycles. | |
| 505 | 8 | |a B3. Distribution of Duration and Amplitude: House Price CyclesB4. Distribution of Duration and Amplitude: Equity Price Cycles; IV. Implications of Coincidence of Business and Financial Cycles; A. Synchronization of Business and Financial Cycles; 3. Synchronization of Business and Financial Cycles; B. Intense Financial Cycles: Financial Disruptions and Booms; 4. Financial Disruptions and Booms: Basic Features; C. Business Cycles Coinciding with Financial Disruptions and Booms; 5. Business Cycles with Intense Financial Cycles. | |
| 505 | 8 | |a V. Interactions between Business and Financial Cycles: A Formal AnalysisA. Duration and Amplitude of Recessions; 6A. Determinants of the Duration of Recessions; 6B. Determinants of the Duration of Recessions: Robustness; 7A. Determinants of the Amplitude of Recessions; 7B. Determinants of the Amplitude of Recessions: Robustness; B. Amplitude of Recoveries; 8A. Determinants of the Amplitude of Recoveries; 8B. Determinants of the Amplitude of Recoveries: Robustness; VI. Conclusion; A. Country List and Database; B. Supplementary Results; B1. Business Cycles: Basic Features. | |
| 505 | 8 | |a B2. Financial Cycles: Macroeconomic VariablesB3. Financial Disruptions and Booms: Macroeconomic Variables; B4. Business Cycles with Intense Financial Cycles: Macroeconomic Variables; B5. Likelihood of Recessions and Recoveries; B1. Distribution of Duration and Amplitude: Business Cycles; References; Footnotes. | |
| 650 | 0 | |a Business cycles |x Econometric models. | |
| 650 | 0 | |a Financial crises |x Econometric models. | |
| 650 | 6 | |a Cycles économiques |x Modèles économétriques. | |
| 650 | 7 | |a Business cycles |x Econometric models |2 fast | |
| 650 | 7 | |a Financial crises |x Econometric models |2 fast | |
| 700 | 1 | |a Kose, M. Ayhan, |e author. | |
| 700 | 1 | |a Terrones, Marco, |e author. | |
| 710 | 2 | |a International Monetary Fund. |b Research Department, |e issuing body. |0 http://id.loc.gov/authorities/names/n77001219 | |
| 758 | |i has work: |a How Do Business and Financial Cycles Interact? (Text) |1 https://id.oclc.org/worldcat/entity/E39PCYPWvkbPtxhXfKxqbWw3Hy |4 https://id.oclc.org/worldcat/ontology/hasWork | ||
| 776 | 0 | 8 | |i Print version: |a Terrones, Marco. |t How Do Business and Financial Cycles Interact? |d Washington : International Monetary Fund, ©2011 |z 9781455233168 |
| 830 | 0 | |a IMF working paper ; |v WP/11/88. |0 http://id.loc.gov/authorities/names/no89010263 | |
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| author | Claessens, Stijn Kose, M. Ayhan Terrones, Marco |
| author_GND | http://id.loc.gov/authorities/names/n88012697 |
| author_facet | Claessens, Stijn Kose, M. Ayhan Terrones, Marco |
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| callnumber-search | HB3711 .C53 2011eb HG3881.5.I58 W67 No. 11/88eb |
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| contents | Cover Page; Title Page; Copyright Page; Contents; Executive Summary; Executive Summary Figure A. Interactions between Business and Financial Cycles; I. Introduction; II. Database and Methodology; A. Database; B. Methodology; III. Business and Financial Cycles: Basic Features; A. Business Cycles: Recessions and Recoveries; 1. Business Cycles: Basic Features; B. Financial Cycles: Upturns and Downturns; 2A. Financial Downturns: Basic Features; 2B. Financial Upturns: Basic Features; B2. Distribution of Duration and Amplitude: Credit Cycles. B3. Distribution of Duration and Amplitude: House Price CyclesB4. Distribution of Duration and Amplitude: Equity Price Cycles; IV. Implications of Coincidence of Business and Financial Cycles; A. Synchronization of Business and Financial Cycles; 3. Synchronization of Business and Financial Cycles; B. Intense Financial Cycles: Financial Disruptions and Booms; 4. Financial Disruptions and Booms: Basic Features; C. Business Cycles Coinciding with Financial Disruptions and Booms; 5. Business Cycles with Intense Financial Cycles. V. Interactions between Business and Financial Cycles: A Formal AnalysisA. Duration and Amplitude of Recessions; 6A. Determinants of the Duration of Recessions; 6B. Determinants of the Duration of Recessions: Robustness; 7A. Determinants of the Amplitude of Recessions; 7B. Determinants of the Amplitude of Recessions: Robustness; B. Amplitude of Recoveries; 8A. Determinants of the Amplitude of Recoveries; 8B. Determinants of the Amplitude of Recoveries: Robustness; VI. Conclusion; A. Country List and Database; B. Supplementary Results; B1. Business Cycles: Basic Features. B2. Financial Cycles: Macroeconomic VariablesB3. Financial Disruptions and Booms: Macroeconomic Variables; B4. Business Cycles with Intense Financial Cycles: Macroeconomic Variables; B5. Likelihood of Recessions and Recoveries; B1. Distribution of Duration and Amplitude: Business Cycles; References; Footnotes. |
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| dewey-search | 338.54 |
| dewey-sort | 3338.54 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| format | Electronic eBook |
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| indexdate | 2024-07-16T15:03:47Z |
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| isbn | 1283565781 9781283565783 9781462340477 1462340474 1455233137 9781455233137 |
| issn | 2227-8885 ; |
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| series | IMF working paper ; |
| series2 | IMF working paper, |
| spelling | Claessens, Stijn, author. http://id.loc.gov/authorities/names/n88012697 How do business and financial cycles interact? / Stijn Claessens, M. Ayhan Kose and Marco E. Terrones. [Washington, D.C.] : International Monetary Fund, ©2011. 1 online resource (55 pages) : illustrations text txt rdacontent computer c rdamedia online resource cr rdacarrier IMF working paper, 2227-8885 ; WP/11/88 This paper analyzes the interactions between business and financial cycles using an extensive database of over 200 business and 700 financial cycles in 44 countries for the period 1960:1-2007:4. Our results suggest that there are strong linkages between different phases of business and financial cycles. In particular, recessions associated with financial disruption episodes, notably house price busts, tend to be longer and deeper than other recessions. Conversely, recoveries associated with rapid growth in credit and house prices tend to be stronger. These findings emphasize the importance of developments in credit and housing markets for the real economy. Includes bibliographical references. Cover Page; Title Page; Copyright Page; Contents; Executive Summary; Executive Summary Figure A. Interactions between Business and Financial Cycles; I. Introduction; II. Database and Methodology; A. Database; B. Methodology; III. Business and Financial Cycles: Basic Features; A. Business Cycles: Recessions and Recoveries; 1. Business Cycles: Basic Features; B. Financial Cycles: Upturns and Downturns; 2A. Financial Downturns: Basic Features; 2B. Financial Upturns: Basic Features; B2. Distribution of Duration and Amplitude: Credit Cycles. B3. Distribution of Duration and Amplitude: House Price CyclesB4. Distribution of Duration and Amplitude: Equity Price Cycles; IV. Implications of Coincidence of Business and Financial Cycles; A. Synchronization of Business and Financial Cycles; 3. Synchronization of Business and Financial Cycles; B. Intense Financial Cycles: Financial Disruptions and Booms; 4. Financial Disruptions and Booms: Basic Features; C. Business Cycles Coinciding with Financial Disruptions and Booms; 5. Business Cycles with Intense Financial Cycles. V. Interactions between Business and Financial Cycles: A Formal AnalysisA. Duration and Amplitude of Recessions; 6A. Determinants of the Duration of Recessions; 6B. Determinants of the Duration of Recessions: Robustness; 7A. Determinants of the Amplitude of Recessions; 7B. Determinants of the Amplitude of Recessions: Robustness; B. Amplitude of Recoveries; 8A. Determinants of the Amplitude of Recoveries; 8B. Determinants of the Amplitude of Recoveries: Robustness; VI. Conclusion; A. Country List and Database; B. Supplementary Results; B1. Business Cycles: Basic Features. B2. Financial Cycles: Macroeconomic VariablesB3. Financial Disruptions and Booms: Macroeconomic Variables; B4. Business Cycles with Intense Financial Cycles: Macroeconomic Variables; B5. Likelihood of Recessions and Recoveries; B1. Distribution of Duration and Amplitude: Business Cycles; References; Footnotes. Business cycles Econometric models. Financial crises Econometric models. Cycles économiques Modèles économétriques. Business cycles Econometric models fast Financial crises Econometric models fast Kose, M. Ayhan, author. Terrones, Marco, author. International Monetary Fund. Research Department, issuing body. http://id.loc.gov/authorities/names/n77001219 has work: How Do Business and Financial Cycles Interact? (Text) https://id.oclc.org/worldcat/entity/E39PCYPWvkbPtxhXfKxqbWw3Hy https://id.oclc.org/worldcat/ontology/hasWork Print version: Terrones, Marco. How Do Business and Financial Cycles Interact? Washington : International Monetary Fund, ©2011 9781455233168 IMF working paper ; WP/11/88. http://id.loc.gov/authorities/names/no89010263 FWS01 ZDB-4-EBU FWS_PDA_EBU https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=2084465 Volltext |
| spellingShingle | Claessens, Stijn Kose, M. Ayhan Terrones, Marco How do business and financial cycles interact? / IMF working paper ; Cover Page; Title Page; Copyright Page; Contents; Executive Summary; Executive Summary Figure A. Interactions between Business and Financial Cycles; I. Introduction; II. Database and Methodology; A. Database; B. Methodology; III. Business and Financial Cycles: Basic Features; A. Business Cycles: Recessions and Recoveries; 1. Business Cycles: Basic Features; B. Financial Cycles: Upturns and Downturns; 2A. Financial Downturns: Basic Features; 2B. Financial Upturns: Basic Features; B2. Distribution of Duration and Amplitude: Credit Cycles. B3. Distribution of Duration and Amplitude: House Price CyclesB4. Distribution of Duration and Amplitude: Equity Price Cycles; IV. Implications of Coincidence of Business and Financial Cycles; A. Synchronization of Business and Financial Cycles; 3. Synchronization of Business and Financial Cycles; B. Intense Financial Cycles: Financial Disruptions and Booms; 4. Financial Disruptions and Booms: Basic Features; C. Business Cycles Coinciding with Financial Disruptions and Booms; 5. Business Cycles with Intense Financial Cycles. V. Interactions between Business and Financial Cycles: A Formal AnalysisA. Duration and Amplitude of Recessions; 6A. Determinants of the Duration of Recessions; 6B. Determinants of the Duration of Recessions: Robustness; 7A. Determinants of the Amplitude of Recessions; 7B. Determinants of the Amplitude of Recessions: Robustness; B. Amplitude of Recoveries; 8A. Determinants of the Amplitude of Recoveries; 8B. Determinants of the Amplitude of Recoveries: Robustness; VI. Conclusion; A. Country List and Database; B. Supplementary Results; B1. Business Cycles: Basic Features. B2. Financial Cycles: Macroeconomic VariablesB3. Financial Disruptions and Booms: Macroeconomic Variables; B4. Business Cycles with Intense Financial Cycles: Macroeconomic Variables; B5. Likelihood of Recessions and Recoveries; B1. Distribution of Duration and Amplitude: Business Cycles; References; Footnotes. Business cycles Econometric models. Financial crises Econometric models. Cycles économiques Modèles économétriques. Business cycles Econometric models fast Financial crises Econometric models fast |
| title | How do business and financial cycles interact? / |
| title_auth | How do business and financial cycles interact? / |
| title_exact_search | How do business and financial cycles interact? / |
| title_full | How do business and financial cycles interact? / Stijn Claessens, M. Ayhan Kose and Marco E. Terrones. |
| title_fullStr | How do business and financial cycles interact? / Stijn Claessens, M. Ayhan Kose and Marco E. Terrones. |
| title_full_unstemmed | How do business and financial cycles interact? / Stijn Claessens, M. Ayhan Kose and Marco E. Terrones. |
| title_short | How do business and financial cycles interact? / |
| title_sort | how do business and financial cycles interact |
| topic | Business cycles Econometric models. Financial crises Econometric models. Cycles économiques Modèles économétriques. Business cycles Econometric models fast Financial crises Econometric models fast |
| topic_facet | Business cycles Econometric models. Financial crises Econometric models. Cycles économiques Modèles économétriques. Business cycles Econometric models Financial crises Econometric models |
| url | https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=2084465 |
| work_keys_str_mv | AT claessensstijn howdobusinessandfinancialcyclesinteract AT kosemayhan howdobusinessandfinancialcyclesinteract AT terronesmarco howdobusinessandfinancialcyclesinteract AT internationalmonetaryfundresearchdepartment howdobusinessandfinancialcyclesinteract |