Growth Dynamics: The Myth of Economic Recovery: Comment
American Economic Review
vol. 102,
no. 7, December 2012
(pp. 3774-77)
Abstract
This comment highlights different ways of coding crisis episodes in Cerra and Saxena (2008) (CS). The comment shows that the coding used for civil war implies a misrepresentation of its impact. A correct coding of civil war reveals that the average civil war leads to a loss in output of 18 percent. This makes civil wars more devastating than all other crisis studied by CS.Citation
Mueller, Hannes. 2012. "Growth Dynamics: The Myth of Economic Recovery: Comment." American Economic Review, 102 (7): 3774-77. DOI: 10.1257/aer.102.7.3774Additional Materials
JEL Classification
- E23 Macroeconomics: Production
- E32 Business Fluctuations; Cycles
- O47 Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence