Prasad, Eswar; Terrones, Marco; Kose, M. Ayhan - International Monetary Fund (IMF) - 2005
The influential work of Ramey and Ramey (1995) highlighted an empirical relationship that has now come to be regarded as conventional wisdom-that output volatility and growth are negatively correlated. We reexamine this relationship in the context of globalization-a term typically used to...