Òscar Jordà discusses the genesis of financial crises and their aftermath using the last 140 years of data on 17 industrialized economies. Recoveries after financial crises tend to be slow. Deleveraging and household finances require time to take hold.
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About the Speaker
Òscar Jordà is a Research Advisor at the Federal Reserve Bank of San Francisco, which he joined in 2011. His research at the bank covers time series analysis and applied macroeconomics broadly defined. Examples of his scholarly articles and ongoing research projects include research on the role of private credit and public debt in financial crises, methods to date business cycles, evaluating the effectiveness of monetary policy in downturns, and better ways to report forecast uncertainty.
Mr. Jordà received a Ph.D. in economics from the University of California, San Diego, and holds a B.S. in economics from the Universidad Complutense de Madrid. Before joining the bank, Mr. Jordà was Professor of Economics at the University of California, Davis. See his research page.
You May Be Interested In
Elias, Early and Òscar Jordà. 2013. "Crises Before and After the Creation of the Fed." FRBSF Economic Letter 2013-13 (May 6).
Jordà, Òscar. 2013. "Will the Unemployment Rate Stall in 2013?" Economics in Person Series FRBSF.
Berge, Travis J., Early Elias, and Òscar Jordà. 2013. "Future Recession Risks: An Update." FRBSF Economic Letter 2011-35 (November 14).
Jordà, Òscar, Moritz Schularick, and Alan M. Taylor. 2012. "When Credit Bites Back: Leverage, Business Cycles and Crises." FRB San Francisco Working Paper 2011-27.