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Persistent link: https://www.econbiz.de/10012392502
Using panel quantile regressions for 11 advanced and 10 emerging market economies, we show that the conditional distribution of GDP growth depends on financial conditions, with growth-at-risk (GaR)-defined as growth at the lower 5th percentile-more responsive than the median or upper...
Persistent link: https://www.econbiz.de/10011905883