Publication:
The Great Recession. Worse than ever?

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dc.contributor.authorCamacho, Maximo
dc.contributor.authorGadea, M. Dolores
dc.contributor.authorPerez-Quiros, Gabriel
dc.contributor.departmentMétodos Cuantitativos para la Economía y la Empresa
dc.date.accessioned2024-01-11T12:10:30Z
dc.date.available2024-01-11T12:10:30Z
dc.date.issued2018
dc.description© 2018. This document is made available under the CC-BY-NC-ND 4.0 license http://creativecommons.org/licenses/by-nc-nd/4.0/ This document is the submitted version of a published work that appeared in final form in Economía Aplicada.es
dc.description.abstractWe develop an international comparative assessment of the Great Recession, in terms of the features that characterize the form of the recession phases, namely length, depth and shape. The potential unobserved heterogeneity in the international recession characteristics is modeled by a finite mixture model. Using Bayesian inference via Gibbs sampling, the model classiffies the Great Recession suffered by a large number of countries into dfferent clusters, determining its severity in cross section and time series and dimensions. Our results suggest that the business cycle features of the Great Recession are not dfferent from others in an international perspective. By contrast, we show that the only distinctive feature of the Great Recession wasits unprecedented degree of synchronicity.es
dc.formatapplication/pdfes
dc.format.extent29es
dc.identifier.citationRevista de economía aplicada, Vol. 26, Nº 76, 2018, págs. 73-100
dc.identifier.issn1133-455X
dc.identifier.urihttp://hdl.handle.net/10201/137184
dc.languageenges
dc.relationECO2014-58991-C3-1-R; ECO2014-58991-C3-2-R; ECO2016-76178-P; ECO2017-83255-C3-3-P; 19884/GERM/15.es
dc.relation.replaceshttps://www.um.es/econometria/Maximo/articulos/GreatRecession.pdfes
dc.rightsinfo:eu-repo/semantics/openAccesses
dc.subjectBusiness cycleses
dc.subjectFinite mixtureses
dc.subjectGreat Recessiones
dc.subject.otherCDU::3 - Ciencias socialeses
dc.titleThe Great Recession. Worse than ever?es
dc.typeinfo:eu-repo/semantics/annotationes
dspace.entity.typePublicationes
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