Deep Recessions, Fast Recoveries, and Financial Crises: Evidence From the American Record

Bordo, Michael D.; Haubrich, Joseph G.

doi:10.1111/ecin.12374

Cited by 48 publications

(9 citation statements)

References 52 publications

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“…World history has seen numerous recessions that have affected all sectors globally, and until the eruption of COVID-19, the crisis of 2008 was considered one of the most recent, longest, and most significant economic recessions in the capitalist era [16]. The main causes of crises can be very diverse, and the effects are different according to the organisation [17].…”

Section: Entrepreneurship In the Time Of Covid-19mentioning

confidence: 99%

Effects of the COVID-19 Pandemic on Sports Entrepreneurship

et al. 2020

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Sports entrepreneurship has been considered an important part of sports organisations when overcoming crisis situations. The aim of this study is to determine the impact of the crisis derived from COVID-19 on sports entrepreneurship and whether there are differences in the prediction of entrepreneurship on service quality in non-profit sports clubs. To this end, 145 sports clubs were analysed before and after the outbreak of the virus in society. Paired sample-t tests were carried out to determine the differences in variables studied before (Time I) and after (Time II) the COVID-19 outbreak, and correlations and hierarchical linear regressions were used to analyse the relationship between the variables studied in the two different stages. The results obtained show that risk-taking and innovation are significantly higher after the appearance of COVID-19, while proactivity has not undergone significant changes. Finally, the relationship between sports entrepreneurship and service quality is positive and significant in both stages but stronger before the crisis.

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Section: Entrepreneurship In the Time Of Covid-19mentioning

confidence: 99%

Effects of the COVID-19 Pandemic on Sports Entrepreneurship

et al. 2020

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“…Using simple time-series regressions, he finds that crises have large and persistent real effects in the period before 1929. A study that focuses on the United States over both the prewar and postwar periods using more traditional business-cycle analysis is Bordo and Haubrich (2017). They find that recoveries following financial crises are not slower than other recoveries.…”

Section: A Approachmentioning

confidence: 99%

New Evidence on the Aftermath of Financial Crises in Advanced Countries

Romer

2017

American Economic Review

222

135

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Even before the collapse of Lehman Brothers set off a worldwide financial meltdown, economists had shown renewed interest in financial crises. The experiences of Japan and the Nordic countries in the early 1990s and the East Asian crisis of the late 1990s had demonstrated that financial crises were not just a topic of historical interest. Scholars began to examine what previous experiences could tell us about the causes and effects of severe financial disruptions. Not surprisingly, the 2008 crisis added even greater urgency to this research agenda.While researching the aftermaths of crisis is unquestionably important, it is also difficult. Before one can begin to evaluate what typically happens after a crisis, one has to know when crises occurred. But what counts as a "crisis" is far from obvious.

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“…In Hall (2010), Claessens et al, (2011, Mussa (2010), Bordo and Haubrich ( 2012), and Dominguez and Shapiro (2013).…”

Section: Recessions Recoveries and Expansionsmentioning

confidence: 99%

Recessions and recoveries in New Zealand's post-Second World War business cycles

Hall

McDermott

2016

New Zealand Economic Papers

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We compute classical real GDP business cycles and growth cycles, and contrast classical recessions with "technical" recessions. Calling a technical recession after two successive quarters of negative growth can provide conditionally useful information, but can also signal beginning and end points for a recession that are somewhat different from those computed by our Bry and Boschan method. Expansion and contraction phases of classical real GDP and employment cycles have, on average, had an 89% association, but individual cycle circumstances should additionally be assessed. There is prima facie evidence that the severity of New Zealand"s recessions has mattered for subsequent recovery paths, that severity of recessions has been more closely associated with their depth than duration, and that New Zealand"s average pattern of recovery has differed from that for U.S. NBER cycles.From our classical real GDP turning points, New Zealand"s most recent recession commenced with the March 2008 quarter and ended with the June 2009 quarter. The duration of this six-quarter recession has been somewhat longer than the average recession of 4.3 quarters; but its 4.0 percentage depth has been considerably less than those for the 1951/52 and 1948 recessions, somewhat below that for the 1976/78 episode, and marginally less than the average depth of 4.1 per cent. In terms of overall severity, a measure which reflects both duration and depth, this recession has been New Zealand"s fourth most severe. Its cumulated GDP loss of 11.5 per cent has been greater than the average loss of 10.4 per cent, but less severe than the losses for 1951/52 (37.2 per cent), 1948 (15.6 per cent) and 1976/78 (12.8 per cent).The recovery path from New Zealand"s most recent recession has differed from those of previous recoveries. JEL Classification: E01, E24, E32

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Deep Recessions, Fast Recoveries, and Financial Crises: Evidence From the American Record

Cited by 48 publications

References 52 publications

Effects of the COVID-19 Pandemic on Sports Entrepreneurship

Effects of the COVID-19 Pandemic on Sports Entrepreneurship

New Evidence on the Aftermath of Financial Crises in Advanced Countries

Recessions and recoveries in New Zealand's post-Second World War business cycles

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