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• W2000594250 abstract "Output drops are usually associated with major disruption for the residents of affected countries, both directly and often through ensuing, prolonged growth slowdowns. Using a century of data, we document that output drops are more frequent in countries at a lower stage of economic development. We then turn to a more in-depth analysis of the post-1970 era, examining output drops in a large panel of countries, and systematically relating them to a variety of shocks. We compute the expected cost of each type of shock as a function of the shock's frequency, the likelihood that the shock will be associated with a drop in output, and the size of the output drop. The largest costs are associated with external financial shocks (notably, sudden stops in financial flows) for emerging markets, and with real external shocks (in particular, terms-of-trade shocks) for developing countries." @default.
• W2000594250 created "2016-06-24" @default.
• W2000594250 creator A5043277551 @default.
• W2000594250 creator A5049904397 @default.
• W2000594250 date "2006-07-01" @default.
• W2000594250 modified "2023-09-24" @default.
• W2000594250 title "Output Drops and the Shocks that Matter" @default.
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• W2000594250 hasPublicationYear "2006" @default.
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