74897 20200117211601.0 sideral 107223 ART-2018-107223 eng Camacho, M. The great recession: The worst ever? 2018 Access copy available to the general public Unrestricted We develop an international comparative assessment of the Great Recession, in terms of the features that characterize the form of the recession phases, namely length, depth and shape. The potential unobserved heterogeneity in the international recession characteristics is modeled by a finite mixture model. Using Bayesian inference via Gibbs sampling, the model classifies the Great Recession suffered by a large number of countries into different clusters, determin ing its severity in cross section and time series and dimensions. Our results suggest that the business cycle features of the Great Recession are not different from others in an international perspective. By contrast, we show that the only distinctive feature of the Great Recession was its unprecedented degree of synchronicity. info:eu-repo/grantAgreement/ES/MEC/ECO2014-58991-C3-1-R info:eu-repo/grantAgreement/ES/MEC/ECO2014-58991-C3-2-R info:eu-repo/grantAgreement/ES/MINEIC/ECO2016-76178-P info:eu-repo/grantAgreement/ES/MINEIC/ECO2017-83255-C3-3-P info:eu-repo/semantics/openAccess by-nc-nd http://creativecommons.org/licenses/by-nc-nd/3.0/es/ 0.3 2018 ECONOMICS 347 / 363 = 0.956 2018 Q4 T3 0.145 2018 Economics, Econometrics and Finance (miscellaneous) 2018 Q4 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion (orcid)0000-0001-6609-4247 Gadea, M.D. Universidad de Zaragoza Pérez-Quirós, G. 4008 225 Universidad de Zaragoza Dpto. Estruc.Hª Econ.y Eco.Pb. Área Economía Aplicada 26, 76 (2018), 73-100 Rev. econ. apl. Revista de Economia Aplicada 1133-455X http://www.revecap.com/revista/numeros/76/pdf/REVECAP-76-(5).pdf Texto completo de la revista 4828295 http://zaguan.unizar.es/record/74897/files/texto_completo.pdf Versión publicada 56210 http://zaguan.unizar.es/record/74897/files/texto_completo.jpg?subformat=icon icon Versión publicada oai:zaguan.unizar.es:74897 articulos driver 2020-01-17-21:12:40 ARTICLE