Banking Crises and the Macro Economy: Causes, Consequences and Recoveries


Authors: Niall Mc Inerney , Conor O'Toole

Research Areas: Macroeconomics

Abstract:
This project examines how financial crises impact on the medium-term dynamics of macroeconomic aggregates in small open economies. In particular, it focuses on the role of financial factors, including housing and financial wealth, in the precipitation of the crisis and their influence on the recovery path following the crisis. From a policy perspective, this research aims to inform the debate about the persistent impact of crises on an economy?s potential output.

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