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Título: | High-growth recoveries, inventories and the Great Moderation |
Autor: | Camacho, Máximo; Pérez Quirós, Gabriel; Rodríguez Mendizábal, Hugo CSIC ORCID | Palabras clave: | Business cycle features Great moderation High-growth recovery |
Fecha de publicación: | 14-abr-2011 | Editor: | Elsevier | Citación: | Journal of Economic Dynamics and Control 35(8): 1322–1339 (2011) | Resumen: | We present evidence about the disappearance of the high-growth recoveries from recessions with intense job creation typically observed until the eighties. This result matches the belief that recessions now have an L-shape as opposed to the old-time recessions that always had a V-shape. We also show how this change in business cycle dynamics can explain part of the Great Moderation. We postulate that these two phenomena may be due to changes in inventory management brought about by improvements in information and communications technologies. | Descripción: | 18 páginas, 15 figuras, 3 tablas.-- El pdf del artículo es el documento de trabajo. | Versión del editor: | http://dx.doi.org/10.1016/j.jedc.2011.04.004 | URI: | http://hdl.handle.net/10261/44655 | DOI: | 10.1016/j.jedc.2011.04.004 | ISSN: | 0165-1889 |
Aparece en las colecciones: | (IAE) Artículos |
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Fichero | Descripción | Tamaño | Formato | |
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High-growth recoveries.pdf | 252,21 kB | Adobe PDF | Visualizar/Abrir |
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