The Global Extent of the Great Moderation (CROSBI ID 179067)
Prilog u časopisu | izvorni znanstveni rad | međunarodna recenzija
Podaci o odgovornosti
Ćorić, Bruno
engleski
The Global Extent of the Great Moderation
In 2008 the US financial crisis spilled over into a number of other economies causing declines in GDP across the world. Yet the decades preceding the current downturn had been a period of unprecedented stability for the US economy. This paper examines annual data for 98 countries over the period 1961-07 and finds that lower GDP growth volatility in the period preceding the current crisis was not confined to the US. It is detected in a number of developed and developing countries, suggesting that a reduction in volatility in this period was a more general phenomenon.
GDP growth volatility; structural changes; the Great Moderation
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Podaci o izdanju
74 (4)
2012.
493-509
objavljeno
0305-9049
10.1111/j.1468-0084.2011.00659.x
Povezanost rada
Ekonomija