Fiscal policy and the duration of financial crises

Autor:	Roland Craigwell, Troy Lorde, Winston Moore
Rok vydání:	2013
Předmět:	Government spending Finance Economics and Econometrics jel:C41 business.industry jel:E62 media_common.quotation_subject Policy initiatives Monetary economics jel:G01 Recession Fiscal policy Financial openness Financial crisis Openness to experience Economics financial crises fiscal policy duration models financial system Duration (project management) business media_common
Zdroj:	Applied Economics. 45:793-801
ISSN:	1466-4283 0003-6846
Popis:	Financial systems across the world have all come under pressure due to the on-going financial crisis. One of the most often asked questions during a collapse is how long and how deep will the decline be as well as what policy initiatives can be employed to shorten the recession. This study estimates a model of the duration of financial crises in an attempt to identify whether fiscal policy can reduce the time to recovery. The results suggest that fiscal shocks, which could provoke an overreaction on the part of markets, tend to lengthen crisis duration. Significant nonlinear effects of government spending are also reported in relation to trade openness and financial openness.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_dedup___::1f800eb4b9c220d4b950ffa09b1b7951 https://doi.org/10.1080/00036846.2011.613769 Zobrazit plný text záznamu Plný text ve formátu PDF Plný text ve formátu HTML
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