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What does it take to grow out of recession? An error-correction approach towards growth convergence of European and transition countries

Olivier Damette, Auteur ; Mathilde Maurel, Auteur ; Michael A. Stemmer, Auteur | Université Paris Sorbonne | Documents de Travail, CES Sorbonne, ISSN 1955-611X | 2016-04

Consequences from the subsiding 2008 financial crisis on long-run economic growth are widely debated. Existing literature on previous recessions, such as Cerra and Saxena (2008), emphasizes the long-term loss inflicted on per capit[...]

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