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 --> Contact Us Sitemap Access 日本語 ENGLISH About RIEB Message Outline History Former Directors Organization Staff Accounts Internatinal Exchange Faculty Global Economy Unit Corporate Competitiveness Unit Corporate Information Unit Global Finance Unit Integrated Center for Corporate Archives Office of Promoting Research Collaboration Visiting and Adjunct Researcher Faculty Awards (in Japanese) Research Fellow Emeritus Professor Research Research Projects Publications Integrates Center for Corporate Archives Early Moden DataBase Seminars at RIEB Seminar Schedule All Seminars RIEB & Kanematsu Seminars Latin America Seminars Monetary Economics Seminar of Kobe University (in Japanese) Kanebo Seminar of Kobe University (in Japanese) Past Seminars Education & Society Symposia Social Contribution & Education Kanematsu Prize Sections Integrated Center for Corporate Archives United Nations Depository Library RIEB Library Computer Laboratory Local Page--> HOME Seminars at RIEB All Seminars All RIEB, Kanematsu Seminars RIEB Seminar RIEB Seminar RIEB Seminar Monday, April 22, 2024, 15:10 - 16:40 RIEB Seminar Jointly Supported by Center for Computational Social Science of Kobe University / Kobe University Center for Social System Innovation / Rokko Forum Date & Time Monday, April 22, 2024, 15:10 - 16:40 Place Meeting Room at RIEB (Annex, 2nd Floor) Intended Audience Faculty, Graduate Students, and People with Equivalent Knowledge Langage English Registration Registration is required. The seminar details will be sent to the registered emails. Registration Form (Due: Apr 18) 15:10 - 16:40 TopicEconomic Resilience: New Evidence (co-authored with Barry Eichengreen and Donghyun Park) Speaker Kwanho SHIN (Department of Economics, Korea University) Abstract We analyze determinants of economic resilience, defined as the tendency of economies to bounce back from negative shocks. Deeper recessions are followed by stronger recoveries, consistent with Friedman’s plucking model of the business cycle. In contrast, longer recessions are associated with weaker recoveries, as if more extensive destruction of human capital and other hysteresis effects limit resilience. Trade openness and exchange rate flexibility, which facilitate the substitution of external demand when domestic demand is weak, are positively associated with resilience, as are a strong current account balance and ample foreign reserves. Financial openness and rapid private credit growth in the preceding expansion contribute negatively, reflecting their legacy of financial problems. Site Top About RIEB Faculty Research Seminars at RIEB Education & Society Sections Site Policy Sitemap Access Contact Information © Research Institute for Economics and Business Administration, Kobe University. All Rights Reserved. Contact Us Site Policy (in Japanese) Sitemap Access 日本語 ENGLISH