Kose, M. Ayhan; Prasad, Eswar S.; Terrones, Marco E. - Institute for the Study of Labor (IZA) - 2006
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...