Macroeconomic Crises since 1870

By Robert J. Barro, J. Ursúa. 2008

536 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/889bb6297ef249df6cba6fb46bb9ee12897d887c

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Economics and Econometrics

1. V. Todorov
2. Ian Martin
3. Torben G. Andersen
4. Nicola Fusari
5. David K. Backus
6. Tim Bollerslev
7. J. Ursúa
8. Mikhail Chernov

In Finance

1. V. Todorov
2. Tim Bollerslev
3. Torben G. Andersen
4. Ian Martin
5. Nicola Fusari
6. Mikhail Chernov
7. David K. Backus
8. J. Ursúa

Citations in the corpus

• Can Rare Events Explain the Equity Premium Puzzle (2008, unknown): “Moreover, the U.S. consumption contraction during the Great Depression is also above the median of the 84 major consumption disasters recorded since the early nineteenth century (source: Figure 1 of Barro and Ursua (2008)).26”
• Disasters Implied by Equity Index Options (2011, methodology): “The parameters of the jump component are derived from studies of international macroeconomic data by Barro (2006), Barro and Ursua (2008), and Barro et al. (2009). Each of these studies looks at aggregate output or consumption over the last century or more for 20-plus countries. Martin (2009) uses t”
• Disaster Risk and its Implications for Asset Pricing (2015, unknown): “Most likely reality is somewhere between the two in that some part of 13The average duration of the disasters in Barro and Ursúa (2008), measured as the number of years from consumption peak to trough, is 4.3 years.”
• Pandemic, Mobile Payment, and Household Consumption: Micro-Evidence from China (2020, unknown): “Regarding shortterm impact studies, irrespective of the focus on the overall changes in consumption (see Barro and Ursúa 2008; Barro, Ursúa, and Weng 2020; Chen, Qian, and Wen 2020; Correia, Luck, and Verner 2020), different category changes in consumption (see Jung et al. 2016), and dynamic…”
• Do better schools lead to more growth? Cognitive skills, economic outcomes, and causation (2012, unknown): “…Hausmann et al. (2005) who look at episodes of “growth accelerations”; Jones and Olken (2008) who consider patterns of 10-year periods of acceleration and collapse; and Barro and Ursúa (2008) who identify events of major declines in consumption that have potential implications for long-run growth.”
• Rare Macroeconomic Disasters (2012, methodology): “In Barro and Ursúa (2008), the disaster jump sizes, b, in the continuous-time model were approximated empirically by the peak-to-trough measures of cumulative, proportionate decline.”
• Macroeconomic Effects From Government Purchases and Taxes (2011, unknown): “The dependent variable is the change from the previous year in per capita real GDP divi per capita real GDP. Data on per capita real GDP are from Barro and Ursua (2008), who use BEA (Bureau of Economic Analysis) data since 1929 and pre-1929 information from Balke and Gordon (1989).”
• Rare Disasters and Exchange Rates (2008, unknown): “To keep the calibration parsimonious, the probability and intensity of disasters are constant, and we take numbers from Barro and Ursua (2008).18 The probability of disasters is  = 36%, as estimated by Barro and Ursua (2008). An important parameter in the calibration is the risk-adjusted probabili”