Naslov
The Global Extent of the Great Moderation

Autori
Ćorić, Bruno

Izvornik
Oxford bulletin of economics and statistics (0305-9049) 74 (2012), 4; 493-509

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni

Ključne riječi
GDP growth volatility; structural changes; the Great Moderation

Sažetak
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.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA