The financial crisis that unraveled after the Lehman Brothers collapse affected in different degrees almost all countries around the world independently of the direct exposure of their financial institutions to toxic assets. Most countries saw a sharp drop in demand together with sudden increases in ...

The global financial crisis of 2008–09 led to massive interruptions in cross-border financial and trade flows. As a result of the crisis virtually all of the advanced economies and many emerging market countries experienced recessions over the past two years. These recessions coincided with various ...

La crisis reciente del mercado de créditos hipotecarios de Estados Unidos ha generado preocupación respecto de la posibilidad de una recesión en ese país. El objetivo de esta minuta es describir algunas metodologías utilizadas para estimar la probabilidad de recesión y presentar sus resultados. Con ...

During 2007-2009 the world underwent a deep economic crisis that has been termed the Great Recession where total output is estimated to have decreased 0.6%. This event has had two salient characteristics: it was a financial shock that originated in advanced economies and in the end most of the economies ...

Presentamos un panorama general de las implicancias de episodios recesivos y de alteración financiera en economías emergentes, y tres conclusiones principales. La primera es que, en comparación con los países avanzados, dichos episodios por lo general resultan más costosos en las economías emergentes. ...

The dramatic policy response to the 2008-09 global economic crisis from many countries has revived some old debates about the use of fiscal and monetary policy in fighting recessions. The central dilemma for policy-makers in Japan North America and Europe has been to try to counter a large recession ...