Stylized facts of economic crises: the example of Chile

Patrik ŠVÁB^[1]

https://doi.org/10.53465/SJIR.1339-2751.2022.3.228-249

 

Abstract: This paper focuses on the stylized facts of macroeconomic variables during crises. These findings are verified on the time series of selected indicators of the Chilean economy. Chile provides an interesting insight into this issue because of its economic history. On the sample of crises since the 1970s, this paper reveals that approximately 60% of macroeconomic indicators fulfilled the stylized theoretical facts. World GDP, the current account balance, terms of trade, foreign direct investment inflow, and foreign exchange reserves could have been possible indicators of the forthcoming crises.

Keywords: economic crisis, financial crisis, stylized facts, macroeconomic indicators, Chile

JEL: E32, G01, N16

Fulltext: PDF

Submitted: 13. 6. 2022 | Accepted: 31. 8. 2022 | Published 15. 9. 2022

 

To cite this article (APA style):

Šváb, P. (2022). Stylized facts of economic crises. Medzinárodné vzťahy – Slovak Journal of International Relations, 20(3), 228 – 249. https://doi.org/10.53465/SJIR.1339-2751.2022.3.228-249

 

Publisher: University of Economics in Bratislava

ISSN online: 1339-2751

 

^[1] Ing. Patrik Šváb, Faculty of International Relations, Prague University of Economics and Business, Winston Churchill square 1938/4, 120 00 Prague 3, Czech Republic, e-mail: , https://orcid.org/0000-0002-1517-5773