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Título

Are the high-growth recovery periods over?

AutorRodríguez Mendizábal, Hugo ; Camacho, Máximo; Pérez Quirós, Gabriel
Palabras claveBusiness cycle characteristics
Great Moderation
High-growth recovery
Fecha de publicación20-abr-2009
SerieUFAE and IAE Working Papers ; 772.09
ResumenWe present evidence about the loss of the so-called "plucking effect", that is, a high-growth phase of the cycle typically observed at the end of recessions. This result matches the popular belief, presented informally by different authors, that the current recession will have permanent effects, or that the current recession will have an L shape versus the old-time recessions that have always had a V shape. Furthermore, we show that the loss of the "plucking effect" 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.
Descripción37 pages, 12 figures, 3 tables.-- JEL Classification Codes: E32, F02, C22.
Versión del editorhttp://pareto.uab.es/wp/2009/77209.pdf
URIhttp://hdl.handle.net/10261/14457
Aparece en las colecciones: (IAE) Informes y documentos de trabajo
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