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Author: Miklos Koren
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A widely held view is that openness to international trade leads to higher GDP volatility, as trade increases specialization and hence exposure to sector-specific shocks. We revisit the common wisdom and argue that when ...Read more...
Francesco Caselli, Miklos Koren, Milan Lisicky and Silvana Tenreyro
19 November 2015
Economies at early stages of development are often shaken by abrupt changes in growth rates, whereas in advanced economies growth rates tend to be relatively stable. To explain this pattern, we propose a theory of techno...Read more...
Miklos Koren and Silvana Tenreyro
October 2007
Why is GDP growth so much more volatile in poor countries than in rich ones? We identify four possible reasons: (i) poor countries specialize in more volatile sectors; (ii) poor countries specialize in fewer sectors; (ii...Read more...
November 2005