engleski

Changes in Short-run Volatility of World Economies

In 2008 the US financial crisis has spilled over into a number of other economies causing decline in GDP growth across the world. The decades preceding the current downturn were a period of unprecedented stability for the US economy. The paper examines annual data for 97 developed and developing countries over the period 1961-2005 ; finding that, as well as the present economic downturn, the moderation of GDP growth volatility in the period preceding the current crisis was not confined to the US. Similar changes in output growth volatility have been detected for a number of other developed and developing countries.

GDP growth; breaks in volatility

nije evidentirano