Output recovery after currency crises

被引：4
作者：
Teimouri S. [1 ]
Brooks T.J. [1 ]
机构：
[1] Department of Economics, College of Business Administration, University of Wisconsin-La Crosse, 1725 State Street, La Crosse, 54601, WI
来源：
Comparative Economic Studies | 2015年 / 57卷 / 1期
关键词：
Currency crisis; Open economy growth; Recovery;
D O I：
10.1057/ces.2014.45
中图分类号：
学科分类号：
摘要：
This study examines the shape and dynamics of output recovery following currency crises characterized by currency crashes or large reserve losses. Our estimation allows output to follow U, V and L-shaped paths following each type of currency crises. The results indicate that output recovery after currency crises is, on average, V-shaped. In addition, currency crashes initially lead to a decline in output, but the output fully recovers to its non-crisis level within three years. Currency crises characterized by large reserve losses lead to a smaller initial output cost, but a larger decline in output in the long run. © 2015 ACES. All rights reserved.
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页码：75 / 102
页数：27
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