Debt, Inequality, Booms, and Crises
Type Research Project
- Oesterreichische Nationalbank (Jubiläumsfonds) http://www.oenb.at/de/ueber_die_oenb/foerderung/jubilaeumsfondsneu/jubilaeumsfonds.jsp
Duration Feb. 1, 2016 - Jan. 31, 2019
- Institute for Ecological Economics IN (Details)
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- Zwickl, Klara (Details) Project Head
We investigate the causes of credit booms and economic crises in Europe and beyond in the context of macroeconomic imbalances, growing inequality, and financial market liberalization. Our analysis is based on research designs allowing for a casual interpretation of the results and state-of-the-art econometric techniques, using new data-sets. In work package 1, we focus on the role of pre-crises sectoral lending and borrowing patterns of households, firms, and governments,, as well as deleveraging processes as a cause of the severity of the Great Recession in Europe.