growth varies tremendously over different revisions of Penn World Table (PWT) income data. They conclude that 'agnostic …

data as well as model uncertainty. Estimating the model using eight vintages of the Penn World Tables (PWT) together with …

downturn. Economies with booming real activity before the crisis are found to be less resilient to the global shock. Buoyant … response of the real economy to the crisis. The effect of international reserves accumulation as a shelter to the global shock …

differences in the determinants of the crisis in emerging Europe compared to those in the rest of the world. We find that the …

downturn. Economies with booming real activity before the crisis are found to be less resilient to the global shock. Buoyant …

downturn. Economies with booming real activity before the crisis are found to be less resilient to the global shock. Buoyant … response of the real economy to the crisis. The effect of international reserves accumulation as a shelter to the global shock …

differences in the determinants of the crisis in emerging Europe compared to those in the rest of the world. We find that the …

restrictions on impulse response functions. We identify two types of structural innovations: loan supply shock and monetary stance … shock. We find that contractionary shocks of both types contributed significantly and in the roughly equal measure to the …