Reevaluating the Link between Volatility and Growth of Output
The Robustness of the Link
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Until the 1980s, short-run economic fluctuations andgrowth were viewed as separate processes. However,recent studies suggest that short-run fluctuationsmight influence the growth. This new view supportsthe existence of a link between volatility and growthof output, which is important for policy makers ashigh economic growth and reducing business cyclevolatility might either be viewed as complementarypolicy goals or as tradeoffs. This book aims to provide a better understanding ofthe link between volatility and growth. The link isexamined using three samples of countries overdifferent time peri...
Until the 1980s, short-run economic fluctuations and
growth were viewed as separate processes. However,
recent studies suggest that short-run fluctuations
might influence the growth. This new view supports
the existence of a link between volatility and growth
of output, which is important for policy makers as
high economic growth and reducing business cycle
volatility might either be viewed as complementary
policy goals or as tradeoffs.
This book aims to provide a better understanding of
the link between volatility and growth. The link is
examined using three samples of countries over
different time periods. The robustness of the link to
different choices of time and samples is tested but
we fail to find a robust link. Therefore, an
alternative method is used that allows volatility and
growth to vary over time. The estimations with the
alternative method give a strong negative link
between volatility and growth. This finding is
important for policy makers, as a policy that reduces
business cycle volatility, is also helpful for
increasing long run growth. This book appeals to
students, professors and researchers who are
interested in economic growth and applied
macroeconomics.
growth were viewed as separate processes. However,
recent studies suggest that short-run fluctuations
might influence the growth. This new view supports
the existence of a link between volatility and growth
of output, which is important for policy makers as
high economic growth and reducing business cycle
volatility might either be viewed as complementary
policy goals or as tradeoffs.
This book aims to provide a better understanding of
the link between volatility and growth. The link is
examined using three samples of countries over
different time periods. The robustness of the link to
different choices of time and samples is tested but
we fail to find a robust link. Therefore, an
alternative method is used that allows volatility and
growth to vary over time. The estimations with the
alternative method give a strong negative link
between volatility and growth. This finding is
important for policy makers, as a policy that reduces
business cycle volatility, is also helpful for
increasing long run growth. This book appeals to
students, professors and researchers who are
interested in economic growth and applied
macroeconomics.
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