01806cas a2200253 a 4500 AALejournalIMF006377 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451982213 1018-5941 BD-DhAAL BD-DhAAL Mody, Ashoka. Spillovers of Domestic Shocks : Will They Counteract the 'Great Moderation'? / Ashoka Mody, Alina Carare. Washington, D.C. : International Monetary Fund, 2010. 1 online resource (29 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Even prior to the extreme volatility just observed, output growth volatility-following protracted decline-was flattening or mildly rising in some countries. More widespread was an increasing tendency from the mid-1990s for shocks in one country to transmit rapidly to other countries, creating the potential for heightened global volatility. The higher sensitivity to foreign shocks, in turn, appears related to stepped-up vertical specialization associated with the integration of emerging markets in international trade. Increased international spillovers call for stronger ex post coordination mechanisms when shocks are large but the best ex ante prevention strategy probably is sensible national policies. Mode of access: Internet Carare, Alina. IMF Working Papers; Working Paper ; No. 2010/078 Full text available on IMF http://elibrary.imf.org/view/journals/001/2010/078/001.2010.issue-078-en.xml IMF e-Library