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A decomposition of the increased stability of GDP growth

Author

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  • Margaret M. McConnell
  • Patricia C. Mosser
  • Gabriel Perez-Quiros

Abstract

Since 1984, the U.S. economy has grown at a remarkably steady pace. An analysis of this increased stability shows that every major component of GDP has exhibited smoother growth. However, two components--inventory investment and consumer spending--are responsible for the bulk of the decline in overall volatility.

Suggested Citation

  • Margaret M. McConnell & Patricia C. Mosser & Gabriel Perez-Quiros, 1999. "A decomposition of the increased stability of GDP growth," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 5(Aug).
    • Handle: RePEc:fip:fednci:y:1999:i:aug:n:v.5no.13
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    References listed on IDEAS

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    1. John Ryding, 1990. "Housing finance and the transmission of monetary policy," Quarterly Review, Federal Reserve Bank of New York, vol. 15(Sum), pages 42-55.
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