scholarly journals Forecasting Economic Growth in the Euro Area During the Great Moderation and the Great Recession

2011 ◽  
Author(s):  
Marco Jacopo Lombardi ◽  
Philipp Maier
Keyword(s):  
Economic Growth ◽  
Euro Area ◽  
Great Recession ◽  
Great Moderation ◽  
The Great Recession

scholarly journals DOES THE GREAT RECESSION IMPLY THE END OF THE GREAT MODERATION? INTERNATIONAL EVIDENCE

2018 ◽  
Vol 56 (2) ◽  
pp. 745-760 ◽  
Author(s):  
Amélie Charles ◽  
Olivier Darné ◽  
Laurent Ferrara
Keyword(s):  
Great Recession ◽  
Great Moderation ◽  
The Great Recession ◽  
International Evidence

scholarly journals Household heterogeneity in the euro area since the onset of the Great Recession

2016 ◽  
Vol 38 (1) ◽  
pp. 181-197 ◽  
Author(s):  
Miguel Ampudia ◽  
Akmaral Pavlickova ◽  
Jiri Slacalek ◽  
Edgar Vogel
Keyword(s):  
Euro Area ◽  
Great Recession ◽  
The Great Recession ◽  
Household Heterogeneity

Central Banking before the Great Recession

2018 ◽  
Author(s):  
Francesco Papadia ◽  
Tuomas Vӓlimӓki
Keyword(s):  
Central Bank ◽  
Great Recession ◽  
Financial Stability ◽  
Central Banks ◽  
Central Banking ◽  
Price Stability ◽  
Great Moderation ◽  
The Great Recession ◽  
Advanced Economies ◽  
The Interest Rate

The chapter describes the historical process as well as the analytical and empirical factors that, at the end of the twentieth century, led to the dominance, in advanced economies, of a central bank model based on an independent institution devoted to price stability as its overriding objective. The central bank pre-crisis model was elegant, performing, and efficient. However, it could not easily accommodate the pursuit of a traditionally important central bank objective: financial stability. Indeed, since central banks have, in essence, just one tool, that is, the interest rate, the pursuit of a financial stability objective in addition to a price stability objective could create dilemma situations. In the two decades between the mid-1980s and the mid-2000s, the economies of advanced economies were very stable, and this period was thus identified as Great Moderation. However, subsequent experience showed that, in this period, the crisis was incubating.

The Causes and Legacy of the Great Recession in Spain

2020 ◽  
pp. 115-131
Author(s):  
Sebastián Royo
Keyword(s):  
Economic Growth ◽  
Great Recession ◽  
Political System ◽  
Economic Consequences ◽  
The Political ◽  
The European Union ◽  
New Parties ◽  
Political Consequences ◽  
The Great Recession

After over two decades of prolonged economic growth, Spain suffered its worst economic crisis in decades between 2008 and 2014. The political, social, and economic consequences of this crisis were very severe: unemployment increased sharply reaching over 27 per cent; inequalities deepened; and the two-party political system was transformed by the emergence of new parties. The implementation of structural reforms, which intensified as a result of the European Union financial sector bailout of 2012, led to economic recovery. As a result, credit was restored, strong economic growth resumed, and the political system did not implode. Yet, persistently high unemployment (particularly as regards youth and long-term) as well as inequality (and to a certain extent poverty) still persist a decade after the crisis. This chapter looks at the genesis of the crisis and examines the responses to the crisis, as well as its economic, social, and political consequences.

scholarly journals Major Crises of the XXIst Century and Impact on Economic Growth

2020 ◽  
Vol 12 (22) ◽  
pp. 9373 ◽  
Author(s):  
Iulia Cristina Iuga ◽  
Anastasia Mihalciuc
Keyword(s):  
Economic Growth ◽  
Great Recession ◽  
Central And Eastern Europe ◽  
Independent Variables ◽  
The Great Recession ◽  
Several Variables ◽  
Macroeconomic Indicators ◽  
Xxist Century ◽  
Global Economic Growth ◽  
Growth Indicator

Global economic growth is noted to have been severely affected by the Great Recession in 2009, reaching its lowest level since the series began in 2019. This low was exceeded in 2020, in the sense that the level of economic growth in Q1 and Q2 2020 is well below 2009 due to countries’ efforts to stop the COVID-19 pandemic. Cases of coronavirus that have occurred since February–March 2020 have started to produce significant effects on economic growth, and the evolution of the economic growth indicator is in decline for the countries analysed. The article is aiming to develop two models (using Empirical Regression Model) that analyse the influence of macroeconomic indicators on economic growth. Our study covers EU member countries in Central and Eastern Europe from 2001–2020 Q2. Using the same variables and coefficients for both models, six for the first model and seven for the second model with the addition of coronavirus cases, we see a change in the behaviour of independent variables. The authors consider that this variable influences the economic situation in a country because it has caused the change in the unfavourable direction of certain macroeconomic indicators with a direct influence on economic growth. By adding cases of coronavirus (Cc) the equation becomes broader and contains several variables that explain the evolution of economic growth. Each of the indicators changes its value, but it is noted that variables with negative coefficients decrease further (e.g., Cs, GvS). Our findings in this article confirm that of all the determinants analysed, CsGw, Ret, GvS, and Cc overwhelmingly influence economic growth.

Capital accumulation and economic growth after the Great Recession

2019 ◽  
pp. 24-46 ◽  
Author(s):  
Leonid M. Grigoryev ◽  
Ekaterina A. Makarova
Keyword(s):  
Economic Growth ◽  
Great Recession ◽  
Capital Accumulation ◽  
Slow Recovery ◽  
Stylized Facts ◽  
The Great Recession ◽  
Theoretical Approaches ◽  
Current Trends ◽  
Advanced Economies ◽  
Per Capita

The Great Recession in 2008—2009 and slow recovery after it became a significant challenge both for economic policy and theory, especially for economic growth studies. New circumstances have revealed new stylized facts, for instance, the decrease in growth rates and capital accumulation in advanced economies. The paper analyzes responses to and outcomes of the Great Recession for countries at different stages of development. The authors consider the investment impact on economic growth varying through seven clusters of countries, determined according to GDP (PPP) level per capita. An attempt has been made to reveal new stylized facts based on current trends and to revise some theoretical approaches to the analysis of economic growth.

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