- 1、本文档共44页,可阅读全部内容。
- 2、有哪些信誉好的足球投注网站(book118)网站文档一经付费(服务费),不意味着购买了该文档的版权,仅供个人/单位学习、研究之用,不得用于商业用途,未经授权,严禁复制、发行、汇编、翻译或者网络传播等,侵权必究。
- 3、本站所有内容均由合作方或网友上传,本站不对文档的完整性、权威性及其观点立场正确性做任何保证或承诺!文档内容仅供研究参考,付费前请自行鉴别。如您付费,意味着您自己接受本站规则且自行承担风险,本站不退款、不进行额外附加服务;查看《如何避免下载的几个坑》。如果您已付费下载过本站文档,您可以点击 这里二次下载。
- 4、如文档侵犯商业秘密、侵犯著作权、侵犯人身权等,请点击“版权申诉”(推荐),也可以打举报电话:400-050-0827(电话支持时间:9:00-18:30)。
查看更多
WP/05/147
Growth Dynamics:
The Myth of Economic Recovery
Valerie Cerra and Sweta Chaman Saxena
© 2005 International Monetary Fund WP/05/147
IMF Working Paper
IMF Institute
Growth Dynamics: The Myth of Economic Recovery
Prepared by Valerie Cerra and Sweta Chaman Saxena1
Authorized for distribution by Andrew Feltenstein
July 2005
Abstract
This Working Paper should not be reported as representing the views of the IMF.
The views expressed in this Working Paper are those of the author(s) and do not necessarily represent
those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are
published to elicit comments and to further debate.
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.
JEL Classification Numbers: C23; E32; F43; O40
Keywords: Growth; Output Loss; Recessions; Recovery; Business Cycles; Crises; Wars
Author(s) E-Mail Address: vcerra@; ssaxena@
1 IMF
您可能关注的文档
- Grade 7 Earth Day Statistics with Circle and Bar Graphs.pdf
- Graded readers How the publishers strongmakestrong the grade - NFLRC.pdf
- Grades 7-8 Mean, Median, and Mode - Pace University.pdf
- Gradient Hard Thresholding Pursuit for Sparsity-Constrained.pdf
- Graffiti A Legal and strongEconomicstrong Analysis.pdf
- Graham strongvstrong. Florida A Game-Changing Victory for Both Juveniles.pdf
- Grain Markets in Europe, 1500–1900.pdf
- Grain Markets in Europe,1500–1900 - Assets.pdf
- Grammar Teaching Revisited EFL Teachers between Grammar.pdf
- GRAMMPS A Generalized Mission Planner for Multiple Mobile.pdf
- 2022-2023学年全国小学五年级上英语新人教版(一起)期中试卷(含解析).pdf
- (新)人教版生物七上《3.4绿色植物是生物圈中有机物的制造者》单元检测卷(含答案).pdf
- 1—5岁幼儿必读绘本书目(按年龄分布).pdf
- 2002中国大学研究生院评价.pdf
- 2022年新课改高一语文教学工作计划范文(通用6篇).pdf
- 2022年北京工业大学工商管理专业《管理学》科目期末试卷A(有答案).pdf
- 2022一建《机电工程管理与实务》模拟试卷(附答案).pdf
- 2022小学语文新课标学习心得体会范文.pdf
- 2022年大工秋数据结构在线作业.pdf
- 2022年内蒙古大学公共课《马克思主义基本原理概论》期末试卷A(有答案).pdf
文档评论(0)