Financial cycles and the real economy : lessons for CESEE countries / edited by Ewald Nowotny, governor, Oesterreichische Nationalbank, Austria ; Doris Ritzberger-Grünwald, director, economic analysis and research department, Oesterreichische Nationalbank, Austria ; Peter Backé, deputy head, foreign research division, Oesterreichische Nationalbank, Austria . Published in association with the Oesterreichische Nationalbank

Nowotny, Ewald *1944-* [HerausgeberIn] ; Ritzberger-Grünwald, Doris *1961-* [HerausgeberIn] ; Backé, Peter *1960-* [HerausgeberIn]

Englisch

Cheltenham, UK ; Northampton, MA, USA : Edward Elgar, 2014

1 Online-Ressource (xiii, 310 pages) : diagrams

Erscheint auch als: Druck-Ausgabe- Nowotny, Ewald *1944-*: Financial cycles and real economy. - Cheltenham [u.a.] : Elgar, 2014. - XIII, 310 S.

978-1-78347-763-0 : e-book

Weitere Ausgaben: 978-1-78347-762-3 (Druckausgabe) : hardback

DOI: 10.4337/9781783477630

*Business cycles -- Europe ; Macroeconomics ; Europe -- Economic policy

*Economics ; Commerce ; Europe

Konjunktur / Finanzkrise / Makroökonomik / Wirtschaftsintegration / Finanzmarktaufsicht / Südosteuropa / Ostmitteleuropa / EU-Staaten

Sammelwerk / Collection of articles of several authors

Klassifikation der Library of Congress: HB3711

Dewey Dezimal-Klassifikation: 338.5/42094;

Regensburger Verbund-Klassifikation: QG 470: Q Wirtschaftswissenschaften / QG Wirtschaftskunde und Allgemeines. Länderstatistisches und regionalstatistisches Material. Wirtschaftspolitik (einschließlich Stellungnahmen dazu) in einzelnen Ländern / QG 100-QG 520 Europa / QG 400-QG 520 Andere europäische Länder / Früherer Ostblock insgesamt

What is the link between the financial cycle - financial booms, followed by busts - and the real economy? What is the direction of this link and how salient is this connection? This unique book examines these fundamental questions and offers a paramount contribution to the debate surrounding the recent financial and economic crisis. With contributions from eminent academics and policy makers, this multi-disciplinary collection ascertains the policy challenges perpetuated by financial cycles in the real economy. Prominent macroeconomic models are challenged as experts question the nexus between financial deepening and growth, and assess the contribution of real estate bubbles to financial crises. Focusing on Europe, and in particular on Central, Eastern and South-Eastern Europe, the collection provides country-specific accounts, suggesting policy initiatives for dealing with financial cycles. The book concludes that financial cycles are leading indicators for financial crises and calls for economists to integrate financial factors into macroeconomic modelling. The multi-faceted nature of this book will be invaluable to researchers and students interested in the post financial crisis debate. Policy makers and practitioners will find the expert insight into lessons learned in Europe in the wake of the financial crisis and the proposal for dynamic policy initiatives to be invaluable.