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Title: How Can Recessions Be Brought To An End? Effects Of Macroeconomic Policy Actions On Durations Of Recessions
Authors: Taş, Bedri Kamil Onur
Cunedioğlu, Hüseyin Ekrem
Keywords: duration analysis
macroeconomic policy
Issue Date: May-2014
Publisher: Univ Cema
Source: Taş, B. K. O., & Cunedioğlu, H. E. (2014). How can recessions be brought to an end? Effects of macroeconomic policy actions on durations of recessions. Journal of Applied Economics, 17(1), 179-198.
Abstract: This paper analyzes how effective macroeconomic policy actions are in ending recessions. We also investigate which structural factors help the country to experience shorter recessions. We implement survival regression analysis and conclude that expansionary monetary policy significantly decreases durations of recessions whereas fixing the exchange rate does not have an effect on the durations of recessions. Expansionary fiscal policy has undesired effects and decreases the probability that recession will end, thus increasing the durations of recessions. The analysis of country specific factors indicates that emerging countries experience shorter recessions. Recessions in countries with higher trade openness last significantly longer. Financial openness and institutional quality do not have significant effects of recession durations. The empirical analysis takes into account alternative probability distributions and endogeneity of policy actions.
ISSN: 1514-0326
Appears in Collections:İktisat Bölümü / Department of Economics
Scopus İndeksli Yayınlar Koleksiyonu / Scopus Indexed Publications Collection
WoS İndeksli Yayınlar Koleksiyonu / WoS Indexed Publications Collection

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