ECB paper assesses influence of international linkages on length and severity of recession
Credit growth combined with other vulnerabilities is important, authors argue
A working paper published by the European Central Bank (ECB) examines the importance of a number of indicators in influencing the severity and length of the global recession for different countries.
In Crisis severity and the international trade network, Marianna Endrész and Frauke Skudelny use Bayesian model averaging to assess various indicators for 39 developed economies measuring international linkages in terms of value-added trade.
The most important variables, they say, are the growth
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