Economic shocks and growth: spatio-temporal perspectives on Europe's economies in a time of crisis

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dc.contributor.author Doran, Justin
dc.contributor.author Fingleton, Bernard
dc.date.accessioned 2016-04-19T16:02:16Z
dc.date.available 2016-04-19T16:02:16Z
dc.date.issued 2013-06-24
dc.identifier.citation DORAN, J. & FINGLETON, B. 2014. Economic shocks and growth: Spatio-temporal perspectives on Europe's economies in a time of crisis. Papers in Regional Science, 93, S137-S165. http://dx.doi.org/10.1111/pirs.12048 en
dc.identifier.volume 93 en
dc.identifier.issued Supplement 1 en
dc.identifier.startpage S137 en
dc.identifier.endpage S165 en
dc.identifier.issn 1056-8190
dc.identifier.uri http://hdl.handle.net/10468/2461
dc.identifier.doi 10.1111/pirs.12048
dc.description.abstract The response by regional and national economies to exogenous impulses has a well-established literature in both spatial econometrics and in mainstream econometrics and is of considerable importance given the post-2007 economic crisis, which is characterised by a period of severe global instability resulting from unprecedented economic shocks. This paper focuses on dynamic counterfactual predictions and impulse-response functions derived from appropriate econometric models. These provide insight regarding the question of whether responses to economic shocks are transitory or whether they have a permanent effect. Analysis shows that output shocks have had permanent effects on productivity so that economies have tended not to return to the pre-shock path but rather adjust to new levels. This suggests that the current recession will be embodied permanently within the memory of some of Europe's leading economies as a hysteretic effect. en
dc.format.mimetype application/pdf en
dc.language.iso en en
dc.publisher Wiley, Regional Science Association International en
dc.rights © 2013 The Authors. Papers in Regional Science © 2013 RSAI. This is the peer reviewed version of the following article: Doran, J. and Fingleton, B. (2014), Economic shocks and growth: spatio-temporal perspectives on Europe's economies in a time of crisis. Papers in Regional Science, 93: S137–S165., which has been published in final form at http://dx.doi.org/10.1111/pirs.12048. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Self-Archiving. en
dc.subject Vector error correction en
dc.subject European Union en
dc.subject Economic shocks en
dc.subject Crisis en
dc.subject Verdoorn law en
dc.title Economic shocks and growth: spatio-temporal perspectives on Europe's economies in a time of crisis en
dc.type Article (peer-reviewed) en
dc.internal.authorcontactother Justin Doran, Economics, University College Cork, Cork, Ireland. +353-21-490-3000 Email: justin.doran@ucc.ie en
dc.internal.availability Full text available en
dc.date.updated 2015-07-28T09:37:39Z
dc.description.version Accepted Version en
dc.internal.rssid 211915190
dc.description.status Peer reviewed en
dc.identifier.journaltitle Papers in Regional Science en
dc.internal.copyrightchecked Yes !!CORA!! AV+24 month embargo+set statement. http://olabout.wiley.com/WileyCDA/Section/id-820227.html en
dc.internal.licenseacceptance Yes en
dc.internal.IRISemailaddress justin.doran@ucc.ie en


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