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Erscheinungsjahr: 
2012
Schriftenreihe/Nr.: 
Working Paper No. 260
Verlag: 
Indian Council for Research on International Economic Relations (ICRIER), New Delhi
Zusammenfassung: 
This paper presents a comprehensive set of stylised facts for business cycles in India from 1950-2010. We show that most macroeconomic variables are less volatile in the post reform period, even though the volatility of macroeconomic variables is still high and similar to other emerging market economies. Consistent with other emerging market economies, consumption volatility has gone up, a result that is robust to a variety of specifications. In terms of co-movement and persistence however, India looks more similar to advanced economies, and less like other emerging market economies. We argue that these changes are driven primarily by structural changes caused by liberalization policy, and not by "good luck".
Schlagwörter: 
Emerging Market Business Cycle Models
Structural Change
India's Economic Reforms
Good Luck Hypothesis
JEL: 
E10
E32
Dokumentart: 
Working Paper

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