INTERNATIONAL EVIDENCE ON RECOVERY FROM RECESSIONS

Valerie Cerra · Ugo G. Panizza · Sweta Saxena

93 citations0/0 files storedContemporary Economic Policy

No readable copy stored yet — this record is metadata only.

No open-access location is known for this record yet.

Literature note Cite in a project Citation map

Monetary Policy and Economic Impact Global Financial Crisis and Policies Economic Theory and Policy

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. (JEL C23, E32, F43, O43)

Paper brief

Loading…

Cite this work

Citation unavailable for this work.

BibTeX RIS CSL-JSON

No public copy is stored for this record, so only the metadata is cited.

Citations in this library

Citation map →

Stored only when both papers are in the corpus — 93 citations exist upstream.

References

1989A New Approach to the Economic Analysis of Nonstationary Time Series and the Business Cycle 1999The Twin Crises: The Causes of Banking and Balance-of-Payments Problems 1998Monetary Policy Shocks: What Have We Learned and to What End?2008A New Measure of Financial Openness 2000The Role of Shocks and Institutions in the Rise of European Unemployment: the Aggregate Evidence 2005Governance Matters IV : Governance Indicators For 1996-2004 1999Chapter 2 Monetary policy shocks: What have we learned and to what end?2008Growth Dynamics: The Myth of Economic Recovery

Cited by

2016The role of industrial diversity in economic resilience: An empirical examination across 35 years 2019The resilience of cities to economic shocks: A tale of four recessions (and the challenge of Brexit)2017Testing and explaining economic resilience with an application to Italian regions 2020Modern Pandemics: Recession and Recovery 2021Financial crises and innovation

Explore the map →

Papers that cite the same references — the relational fallback while embeddings are still backfilling.

Imported from OpenAlex (CC0) — nothing here is generated.