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  1. The Great Recession versus the Great Depression: Stylized Facts on Siblings That Were Given Different Foster Parents

    Aiginger, Karl
    This paper compares the depth of the recent crisis and the Great Depression. We use a new data set to compare the drop in activity in the industrialized countries for seven activity indicators. This is done under the assumption that the recent crisis leveled off in mid-2009 for production and will do so for unemployment in 2010. Our data indicate that the recent crisis indeed had the potential to be another Great Depression, as shown by the speed and simultaneity of the decline in the first nine months. However, if we assume that a large second dip can be avoided,...
    (application/pdf) - 18-oct-2016

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