International evidence on recovery from recessions

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.


Publication year:
2013
In:
Contemporary Economic Policy 31, no 2(2013), p 424-439

Note: The status of this file is: restricted


 Record created 2014-10-23, last modified 2018-01-28

Fulltext:
Download fulltext
PDF

Rate this document:

Rate this document:
1
2
3
 
(Not yet reviewed)