Hidden Bibliographic Details
| Other authors / contributors: | Panizza, Ugo, author.
Saxena, Sweta Chaman, author.
International Monetary Fund. Research Department.
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| ISBN: | 1451917554
9781451917550
1462352731
9781462352739
1452799504
9781452799506
9786612843938
6612843934
1282843931
9781282843936
9781451873306
1451873301
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| Digital file characteristics: | text file
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| Notes: | "August 2009."
Includes bibliographical references (pages 28-30).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2011.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
English.
digitized 2011 HathiTrust Digital Library committed to preserve
Print version record.
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| Summary: | 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 of the shock. Indeed, monetary and fiscal stimulus and foreign aid can spur a rebound, with impacts that are asymmetrically stronger than in nonrecovery years. Real depreciation and the exchange rate regime also have asymmetric growth effects in a recovery year relative to other years of expansion. Recoveries are more sluggish in open economies, partly because fiscal policy is less effective than in closed economies.
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| Other form: | Print version: Cerra, Valerie. International evidence on recovery from recessions. Washington, D.C. : International Monetary Fund, IMF Institute, 2009
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| Standard no.: | 10.5089/9781451917550.001
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