An analysis of the Determinants of Deep Economic Recessions

The two most recent macroeconomic downturns have been exceptional by historical standards both in terms of magnitude and in terms of geographical average. The objective of this thesis is to analyze the factors that trigger extreme contractions in economic activity while also investigating how these downturns propagate across international boundaries. This thesis enhances understanding of extreme economic events and their determinants, equipping policymakers with insights to assess future economic risk and mitigate cross- country spillover effects.