International evidence on recovery from recessions

Cerra, Valérie ; Panizza, Ugo ; Saxena, Sweta C.

Contemporary Economic Policy 31, no 2(2013), p 424-439

Abstract: Although negative shocks have persistent effects on output on average, this article shows that macroeconomic policies can influence the speed of recovery and mitigate the persistence of the shock. Indeed, monetary and fiscal stimulus and foreign aid can spur a rebound, with impacts that are asymmetrically stronger than in non-recovery years. Real depreciation and the exchange rate regime also have asymmetric growth effects in a recovery year relative to other years of expansion.


The record appears in these collections:
Academic Departments > International Economics Department
Research Clusters > Development Policies and Practices
Research Clusters > Culture, Identity and Religion
Research Clusters > Trade and Economic Integration
Research Clusters > Finance and Development
Research Clusters > Governance
Journal Articles

 Record created 2014-10-23, last modified 2017-10-24


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