Growth Dynamics: The Myth of Economic Recovery
Using panel data for a large number of countries, we find that economic contractions are not followed by offsetting fast recoveries. Trend output lost is not regained, on average. Wars, crises, and other negative shocks lead to absolute divergence and lower long-run growth, whereas we find absolute...
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1. Verfasser: | |
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Washington, D.C
International Monetary Fund
2005
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Schriftenreihe: | IMF Working Papers
Working Paper No. 05/147 |
Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
Zusammenfassung: | Using panel data for a large number of countries, we find that economic contractions are not followed by offsetting fast recoveries. Trend output lost is not regained, on average. Wars, crises, and other negative shocks lead to absolute divergence and lower long-run growth, whereas we find absolute convergence in expansions. The output costs of political and financial crises are permanent on average and long-term growth is negatively linked to volatility. These results also imply that panel data studies can help identify the sources of growth and that economic models should be capable of explaining growth and fluctuations within the same framework |
Beschreibung: | 1 Online-Ressource (43 p) |
ISBN: | 1451861664 9781451861662 |
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spelling | Saxena, Sweta Chaman Verfasser aut Growth Dynamics The Myth of Economic Recovery Saxena, Sweta Chaman Washington, D.C International Monetary Fund 2005 1 Online-Ressource (43 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 05/147 Using panel data for a large number of countries, we find that economic contractions are not followed by offsetting fast recoveries. Trend output lost is not regained, on average. Wars, crises, and other negative shocks lead to absolute divergence and lower long-run growth, whereas we find absolute convergence in expansions. The output costs of political and financial crises are permanent on average and long-term growth is negatively linked to volatility. These results also imply that panel data studies can help identify the sources of growth and that economic models should be capable of explaining growth and fluctuations within the same framework Online-Ausg Cerra, Valerie Sonstige oth http://elibrary.imf.org/view/IMF001/02954-9781451861662/02954-9781451861662/02954-9781451861662.xml Verlag URL des Erstveröffentlichers Volltext |
spellingShingle | Saxena, Sweta Chaman Growth Dynamics The Myth of Economic Recovery |
title | Growth Dynamics The Myth of Economic Recovery |
title_auth | Growth Dynamics The Myth of Economic Recovery |
title_exact_search | Growth Dynamics The Myth of Economic Recovery |
title_exact_search_txtP | Growth Dynamics The Myth of Economic Recovery |
title_full | Growth Dynamics The Myth of Economic Recovery Saxena, Sweta Chaman |
title_fullStr | Growth Dynamics The Myth of Economic Recovery Saxena, Sweta Chaman |
title_full_unstemmed | Growth Dynamics The Myth of Economic Recovery Saxena, Sweta Chaman |
title_short | Growth Dynamics |
title_sort | growth dynamics the myth of economic recovery |
title_sub | The Myth of Economic Recovery |
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