Is economic recovery a myth? : Robust estimation of impulse responses

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TEULINGS, Coen N., Nikolay ZUBANOV, 2014. Is economic recovery a myth? : Robust estimation of impulse responses. In: Journal of Applied Econometrics. 29(3), pp. 497-514. ISSN 0883-7252. eISSN 1099-1255

@article{Teulings2014econo-37156, title={Is economic recovery a myth? : Robust estimation of impulse responses}, year={2014}, doi={10.1002/jae.2333}, number={3}, volume={29}, issn={0883-7252}, journal={Journal of Applied Econometrics}, pages={497--514}, author={Teulings, Coen N. and Zubanov, Nikolay} }

<rdf:RDF xmlns:rdf="http://www.w3.org/1999/02/22-rdf-syntax-ns#" xmlns:bibo="http://purl.org/ontology/bibo/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:dcterms="http://purl.org/dc/terms/" xmlns:xsd="http://www.w3.org/2001/XMLSchema#" > <rdf:Description rdf:about="https://kops.uni-konstanz.de/rdf/resource/123456789/37156"> <dc:contributor>Zubanov, Nikolay</dc:contributor> <dcterms:abstract xml:lang="eng">We estimate the impulse response function (IRF) of GDP to a banking crisis using an extension of the local projections method. We demonstrate that, though robust to misspecifications of the data-generating process, this method suffers from a hitherto unnoticed bias which increases with the forecast horizon. We propose a correction to this bias and show through simulations that it works well. Applying our corrected local projections estimator to the data from a panel of 99 countries observed between 1974 and 2001, we find that an average banking crisis yields a GDP loss of just under 10% in 10 years, with little sign of recovery. Like the original local projections method, our extension of it is widely applicable.</dcterms:abstract> <dc:date rdf:datatype="http://www.w3.org/2001/XMLSchema#dateTime">2017-02-06T14:34:59Z</dc:date> <dc:creator>Zubanov, Nikolay</dc:creator> <dcterms:title>Is economic recovery a myth? : Robust estimation of impulse responses</dcterms:title> <dcterms:available rdf:datatype="http://www.w3.org/2001/XMLSchema#dateTime">2017-02-06T14:34:59Z</dcterms:available> <bibo:uri rdf:resource="https://kops.uni-konstanz.de/handle/123456789/37156"/> <dc:language>eng</dc:language> <dc:creator>Teulings, Coen N.</dc:creator> <dcterms:issued>2014</dcterms:issued> <dcterms:rights rdf:resource="http://nbn-resolving.de/urn:nbn:de:bsz:352-20150914100631302-4485392-8"/> <dc:contributor>Teulings, Coen N.</dc:contributor> </rdf:Description> </rdf:RDF>

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