Financial and economic downturns in OECD countries
Show full item record
|
Title:
|
Financial and economic downturns in OECD countries |
|
ISBN:
|
978-952-6699-59-2 |
|
Author:
|
Haavio, Markus
;
Mendicino, Caterina
;
Punzi, Maria Teresa
|
|
Organization:
|
Bank of Finland
|
|
Series:
|
Bank of Finland Research Discussion Papers
|
|
ISSN:
|
1456-6184
|
|
Series year:
|
2013 |
|
Series number:
|
35/2013 |
|
Year of publication:
|
2013 |
|
Publication date:
|
19.12.2013 |
|
Published in:
|
Published in Applied Economics Letters, Volume 21, Issue 6, April 2014, Pages 407-412 |
|
DOI:
|
10.1080/13504851.2013.864025
|
|
Pages:
|
19 s. |
|
Keywords:
|
suhdanteet; kansainvälinen; rahoitusmarkkinat; osakkeet; hinnat; asunnot; luotot; indikaattorit; bkt; varallisuushinnat; talletukset; |
|
JEL:
|
C53; E32; E37; G17
|
|
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 analysis, we document that downturns in real asset prices, particularly real house prices, are useful leading indicators of economic recessions. Keywords: macro-financial linkages; turning point analysis; probit models JEL classification numbers: C53, E32, E37, G17 |
|
Note:
|
Ilmestynyt myös Applied Economics Letters 2014 ; 21 ; 6. |
|
Rights:
|
https://helda.helsinki.fi/bof/copyright
|
Files in this item
Total number of downloads: Loading...
This item appears in the following Collection(s)
Show full item record
