Relationships between country size (measured by both population and aggregate GDP) and standard of living (measured by per capita GDP) and the volatilities of aggregate output, consumption, and investment are investigated for a sample of 56 countries. Both characteristics are shown to be negatively related to the volatilities of the growth rates of all three aggregate for the period 1950-85. The relationships between the importance of nontradable goods (measured by the ratio of consumption expenditures on nontradables to expenditures on tradables) and the volatilities of aggregates are studied for a sub-sample of 23 countries. This characteristic and volatilities of all three aggregates are shown to be negatively related. These results are consistent with the predictions of theoretical models studied by Crucini (1990) and Head (1991).
Download Info
To our knowledge, this item is not available for
download. To find whether it is available, there are three
options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page
whether it is in fact available.
3. Perform a search for a similarly titled item that would be
available.
Publisher Info
Paper provided by Queen's University, Department of Economics in its series Working Papers with number
832.
Cited by: (explanations, 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.)