Sunday, March 8, 2015

8/3/15: Euro area crisis timing: a problem of definition

Here is an interesting article comparing Euro area debt crisis and Latin American debt crisis:

One question that is persistently present in the literature is about timing the start of the Euro area crisis. The problem is manifold:
1) Different countries have gone into crises in different years;
2) Different aspects of the crises define different sub-crises across various macroeconomic parameters

Here is my stab at the comprehensive definition:

And a legend and some counts stats:

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