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Aghion, Philippe; Banerjee, Abhijit V. - 2005

Persistent link: https://www.econbiz.de/10002817527

Cyclical Macroeconomic Policy, Financial Regulation and Economic Growth

Aghion, Philippe - 2014

This paper investigates the effect of cyclical macroeconomic policy and financial sector characteristics on growth. Using cross-country, cross-industry OECD data, it yields two main findings. First, countercyclical fiscal and monetary policies foster growth disproportionately in more...

Persistent link: https://www.econbiz.de/10013058584

Cyclical Fiscal Policy, Credit Constraints, and Industry Growth

Aghion, Philippe - 2014

This paper analyzes the impact of cyclical fiscal policy on industry growth. Using Rajan and Zingales' (1998) difference-in-difference methodology on a panel data sample of manufacturing industries across 15 OECD countries over the period 1980-2005, we show that industries with relatively...

Persistent link: https://www.econbiz.de/10013067917

Exchange rate volatility and productivity growth : the role of financial development

Aghion, Philippe; Bacchetta, Philippe; Rancière, Romain; … - 2006

This paper offers empirical evidence that real exchange rate volatility can have a signi.cant impact on the long … with relatively low levels of financial development, exchange rate volatility generally reduces growth, whereas for … rate volatility, and outliers. We also offer a simple monetary growth model in which real exchange rate uncertainty …

Persistent link: https://www.econbiz.de/10011397245