Output composition and the US output volatility decline
AbstractWe argue that the role played by output-composition changes on the decline in US output volatility has been incorrectly assessed in the recent literature. We obtain that shifts across broad sectors in the economy account for about thirty-percent of the volatility decline since the 1950âs.
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Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 82 (2004)
Issue (Month): 1 (January)
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Web page: http://www.elsevier.com/locate/ecolet
Other versions of this item:
- Francisco Alcalá & Israel Sancho, 2003. "Output composition and the US output volatility decline," Macroeconomics 0307005, EconWPA, revised 09 Jul 2003.
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
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