Did Output Recover from the Asian Crisis?

This paper investigates the extent to which output has recovered from the Asian crisis. A regime-switching approach that introduces two state variables is used to decompose recessions in a set of six Asian countries into permanent and transitory components. While growth recovered fairly quickly after the crisis, there is evidence of permanent losses in the levels of output in all the countries studied.

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Year of publication:	2005
Authors:	Cerra, Valerie ; Saxena, Sweta Chaman
Published in:	IMF Staff Papers. - Palgrave Macmillan, ISSN 1020-7635. - Vol. 52.2005, 1, p. 1-23
Publisher:	Palgrave Macmillan

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Extent:	application/pdf
Type of publication:	Article
Classification:	F39 - International Finance. Other ; F41 - Open Economy Macroeconomics ; F42 - International Policy Coordination and Transmission ; F49 - Macroeconomic Aspects of International Trade and Finance. Other ; C32 - Time-Series Models ; G15 - International Financial Markets
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10009018599