Series: IMF Working Papers
Author(s): Valerie Cerra , Sweta Saxena , and Ugo Panizza
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 August 2009
Keywords: Growth, Recession, Rebound, Output loss, exchange rate, recessions, exchange rate regime,
Although negative shocks have persistent effects on output on average, this paper shows that macroeconomic policies and the structure of the economy can influence the speed of recovery and mitigate the persistence...