Ò
Òscar Jordà
Researcher at Federal Reserve Bank of San Francisco
Publications - 161
Citations - 9235
Òscar Jordà is an academic researcher from Federal Reserve Bank of San Francisco. The author has contributed to research in topics: Monetary policy & Interest rate. The author has an hindex of 40, co-authored 152 publications receiving 7464 citations. Previous affiliations of Òscar Jordà include University of California & Federal Reserve System.
Papers
More filters
Journal ArticleDOI
Estimation and Inference of Impulse Responses by Local Projections
TL;DR: In this article, the authors introduce methods to compute impulse responses without specification and estimation of the underlying multivariate dynamic system by estimating local projections at each period of interest rather than extrapolating into increasingly distant horizons from a given model, as it is done with VARs.
Posted Content
Financial Crises, Credit Booms, and External Imbalances: 140 Years of Lessons
TL;DR: In this article, the authors studied the experience of 14 developed countries over 140 years (1870-2008) and found that credit growth tends to be elevated and natural interest rates depressed in the run-up to global financial crises.
Journal ArticleDOI
When Credit Bites Back
TL;DR: The authors used data on 14 advanced countries between 1870 and 2008 to study how past credit accumulation impacts key macroeconomic variables such as output, investment, lending, interest rates, and inflation, finding that more credit-intensive expansions tend to be followed by deeper recessions and slower recoveries.
ReportDOI
Macrofinancial History and the New Business Cycle Facts
TL;DR: In this article, a decade-long, near-stable ratio of credit to GDP gave way to rapid financialization and surging leverage in the last forty years, which coincides with shifts in foundational macroeconomic relationships beyond the widely noted return of macroeconomic fragility and crisis risk.
Journal ArticleDOI
Financial Crises, Credit Booms, and External Imbalances: 140 Years of Lessons
TL;DR: In this article, the authors apply new statistical tools to describe the temporal and spatial patterns of crises and identify episodes of global financial instability in the past 140 years, and show that credit growth tends to be elevated and natural interest rates depressed in the run-up to global financial crises.