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probability of macroeconomic catastrophes à la Barro (2006), and to the case of an uncertain trend or volatility of growth à la …
Persistent link: https://www.econbiz.de/10013315817
This paper shows that the explanation of the decline in the volatility of GDP growth since the mid-eighties is not the … decline in the volatility of exogenous shocks but rather a change in their propagation mechanism …
Persistent link: https://www.econbiz.de/10013316599
Policy reforms aimed at boosting long-run growth often have side effects – positive or negative – on an economy’s vulnerability to shocks and their propagation. Macroeconomic shocks as severe and protracted as those since 2007 warrant a reconsideration of the role growth-promoting policies...
Persistent link: https://www.econbiz.de/10014151193
follows: First, we find that adding a country premium shock substitutes for the role of a trend productivity shock in …
Persistent link: https://www.econbiz.de/10014236930
follows: First, we find that adding a country premium shock substitutes for the role of a trend productivity shock in …
Persistent link: https://www.econbiz.de/10014241372
Pt. 1. The macroeconomics of capital flows to Latin America, experience and policy issues / Michael Gavin, Ricardo Hausmann, and Leonardo Leiderman. Commentary / Michael Bruno ... [et al.]. Conclusion to Part 1 / Jacob Frenkel -- Pt. 2. Achieving stability in Latin American financial markets in...
Persistent link: https://www.econbiz.de/10013552168
This paper shows that the explanation of the decline in the volatility of GDP growth since the mid-eighties is not the … decline in the volatility of exogenous shocks but rather a change in their propagation mechanism. …
Persistent link: https://www.econbiz.de/10003747971
has emerged about the possible negative effects of aid volatility itself. However, the cushioning effect of aid may … involve some volatility in aid flows, which then is not necessarily negative for growth. In this paper we examine to what … destabilizing. We measure aid volatility by several methods and assess procyclicality of aid with respect to exports, thus departing …
Persistent link: https://www.econbiz.de/10003793607
Persistent link: https://www.econbiz.de/10003804158
Persistent link: https://www.econbiz.de/10003810405