the associations of growth level, growth volatility, shocks, institutions, and macroeconomic fundamentals have changed in … important ways after the crisis. GDP growth across countries has become more dependent on external factors, including global … growth, global oil prices, and global financial volatility. After accounting for the effects global shocks, we find that …

-crisis trend, others stagnate. Recent studies provide empirical support for a link between aggregate growth and plant dynamics … model with heterogeneous firms to study the effect on aggregate short-run growth of policies that distort the process of … birth, growth and death of firms, as well as the reallocation of resources across economic units. Our findings show that …

research on China. Second, we document, through various empirical methods, the robust findings about striking patterns of trend … offers a constructive framework for studying China's modern macroeconomy …

nominal interest rates and inflationary expectations below target). In addition, the recovery was jobless (i.e., output growth … confidence shock. Lack-of-confidence shocks play a central role in generating jobless recoveries, for fundamental shocks, such as … disturbances to the natural rate, are shown to generate recessions featuring recoveries with job growth. The paper considers a …