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The Effect of Recessions on the Relationship between Output Variability and Growth Author info | Abstract | Publisher info | Download info | Related research | Statistics Ólan T. Henry () (Department of Economics, University of Melbourne)
Nilss Olekalns () (Department of Economics, University of Melbourne)
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This paper investigates the relationship between output volatility and growth using postwar real GDP data for the United States. We expand on recent research bydocumenting the asymmetric effect of recessions on output growth. The results presented in this paper suggest that output volatility is highest when the economy is contracting. While we find that the economy expands most rapidly following a recession, this expansion is offset by the negative impact of output uncertainty.
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Article provided by Southern Economic Association in its journal Southern Economic Journal .
Volume (Year): 68 (2002)
Issue (Month): 3 (January)
Pages: 683-692
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Handle: RePEc:sej:ancoec:v:68:3:y:2002:p:683-692Contact details of provider: Web page: http://www.southerneconomic.org/ More information through EDIRC
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References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.: Kormendi, Roger C. & Meguire, Philip G., 1985.
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Don Bredin & Stilianos Fountas, 2004.
"Macroeconomic Uncertainty and Macroeconomic Performance: Are they related? ,"
Money Macro and Finance (MMF) Research Group Conference 2004
51, Money Macro and Finance Research Group.
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Other versions: Kevin B. Grier & Ólan T. Henry & Nilss Olekalns & Kalvinder Shields, 2004.
"The asymmetric effects of uncertainty on inflation and output growth ,"
Journal of Applied Econometrics ,
John Wiley & Sons, Ltd., vol. 19(5), pages 551-565.
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Other versions: Stilianos Fountas & Menelaos Karanasos, 2008.
"Are economic growth and the variability of the business cycle related ? Evidence from five European countries ,"
Discussion Paper Series
2008_17, Department of Economics, University of Macedonia, revised Dec 2008.
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Other versions: WenShwo Fang & Stephen M. Miller, 2009.
"Modeling the Volatility of Real GDP Growth: The Case of Japan Revisited ,"
Working Papers
0904, University of Nevada, Las Vegas , Department of Economics.
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Other versions: Kalvinder Shields & Nilss Olekalns & Ólan T. Henry & Chris Brooks, 2003.
"Measuring the Response of Macroeconomic Uncertainty to Shocks ,"
Department of Economics - Working Papers Series
870, The University of Melbourne.
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Other versions: Don Bredin & John Elder & Stilianos Fountas, 2008.
"Macroeconomic Uncertainty and Performance in Asian Countries ,"
Discussion Paper Series
2008_10, Department of Economics, University of Macedonia, revised Sep 2008.
[Downloadable!]
Don Bredin & Stilianos Fountas, 2008.
"Macroeconomic Uncertainty and Performance in the European Union and Implications for the objectives of Monetary Policy ,"
Discussion Paper Series
2008_01, Department of Economics, University of Macedonia, revised Jan 2008.
[Downloadable!]
Olan T. Henry & Nilss Olekalns & Kalvinder Shields, 2002.
"Non-linear Co-Movements in Output Growth: Evidence from the United States and Australia ,"
Department of Economics - Working Papers Series
857, The University of Melbourne.
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