Output Variability And Economic Growth
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Output Variability And Economic Growth
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Author : Stilianos Fountas
language : en
Publisher:
Release Date : 2001
Output Variability And Economic Growth written by Stilianos Fountas and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Economics categories.
The Effect Of Recessions On The Relationship Between Output Variability And Growth
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Author : Olan Henry
language : en
Publisher:
Release Date : 2000
The Effect Of Recessions On The Relationship Between Output Variability And Growth written by Olan Henry and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Economic development categories.
The Level And Variability Of Inflation Output Growth And Money
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Author : Yeong-Chun Park
language : en
Publisher:
Release Date : 1996
The Level And Variability Of Inflation Output Growth And Money written by Yeong-Chun Park and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Inflation (Finance) categories.
This paper investigates various long-run relationships among the level and variability of money growth, inflation and real output growth using cross-section analysis based on 90 countries' time series data. The empirical results presented in this paper support the hypothesis that the variability of inflation is positively related to the level of inflation, and also suggest the existence of the threshold level of inflation for the sample period of the 1980s and early 1990s. The results also show that inflation variability appears to have insignificant relationships with the long-run average growth rate of real output overall. The positive relationship between two variables prevails during the 1970s, but this relationship weakens considerably during the 1980s and early 1990s. The OECD group has consistently positive slope coefficients for all considered sample periods. The empirical results of this paper also confirm the well-known proposition that money is very closely related to the rate of inflation, And, overall, the growth rate of money supply does not seem to have strong relationship with the long-run real output growth rate. However, the OECD group shows weak positive relationship between two variables, which appears to be the result of relatively strong positive correlation especially during the 1970s. For the Asian group, one of the fastest economic growth groups, the growth rate of money supply does not have one-for-one relationship with inflation, and has strong positive relationship with real output growth. This paper does not support the proposition of a significant negative relationship between the variability of money growth and the average growth rate of real output. However, especially after 1980, the relationship changes to negative. The evidence presented in this paper shows that both the level or variability of inflation and the level or variability of money growth has positive relationship with the variability of real output growth. This result suggests that we may have to consider an additional welfare cost of high inflation or high money growth (and high variability of those) since they tend to induce unstable economic growth pattern even though they play no important role on the determination of the long-run average growth rate of real output.
The Link Between Economic Growth And Growth Volatility
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Author : Dong-Hyeon Kim
language : en
Publisher:
Release Date : 2014
The Link Between Economic Growth And Growth Volatility written by Dong-Hyeon Kim and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
This paper investigates the relationship between economic growth and growth volatility through simultaneous equations system. By employing the identification through heteroskedasticity method of Rigobon (2003, Review of Economics and Statistics 85: 777-792) and using a panel of 158 countries over the period 1960-2010, we find that output volatility is detrimental to economic growth, suggesting that stabilization policies to mitigate short-run economic fluctuations contribute to long-run economic growth. And economic growth accelerates output variability, supporting the feedback effects from growth to the volatility. The evidence is robust to a number of sensitivity tests.
Central Bank Independence And Output Variability
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Author : Mark Crosby
language : en
Publisher:
Release Date : 1996
Central Bank Independence And Output Variability written by Mark Crosby and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Banks and banking, Central categories.
The Theory Of Technological Change And Economic Growth
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Author : Dr Stanislaw Gomulka
language : en
Publisher: Routledge
Release Date : 2006-12-05
The Theory Of Technological Change And Economic Growth written by Dr Stanislaw Gomulka and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-12-05 with Business & Economics categories.
In this wide ranging exposition of the various economic theories of technological change, Stanislaw Gomulka relates them to rates of growth experienced by different economies in both the short and the long term. Analysis of countries as diverse as Japan, the Soviet Union and the United Kingdom demonstrates that there is an interdependence between technological change and the institutional and cultural characteristics of different countries, which can have a profound effect on their rates of growth. All of the major, relevant models are discussed, including those of Kuznets and Phelps, but throughout the emphasis is on the creation of a unified theoretical framework to help explain the impact of technological progress on both a micro and a macro scale.
Aggregate Versus Industry Specific Sources Of Economic Growth And Business Cycle Fluctuations
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Author : Paavo Peisa
language : en
Publisher:
Release Date : 1989
Aggregate Versus Industry Specific Sources Of Economic Growth And Business Cycle Fluctuations written by Paavo Peisa and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989 with categories.
Savings Rates And Output Variability In Industrial Countries
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Author : Garry J. Schinasi
language : en
Publisher:
Release Date : 1989
Savings Rates And Output Variability In Industrial Countries written by Garry J. Schinasi and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989 with Gross national product categories.
Analysis Of Variability And Correlation In Long Term Economic Growth Rates
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Author : Mort David Webster
language : en
Publisher:
Release Date : 2006
Analysis Of Variability And Correlation In Long Term Economic Growth Rates written by Mort David Webster and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.
Quantifying the uncertainty in future climate change is an important input into policy decisions. Two important sources of uncertainty are economic growth and technological change, which in turn contribute to uncertainty in future emissions. In this paper, we focus on uncertainty in one type of technical change: productivity growth. Estimates of uncertainty in future growth must necessarily include expert judgment, since the future will not necessarily look like the past. But previous uncertainty studies have taken expert judgments based on annual national growth rates, and applied them to models with regional aggregations and multi-year time steps, and often have made crude assumptions about the correlation between regions. This paper analyzes data on the variability and covariability of historical economic productivity growth rates, and investigates the effect of spatial and temporal aggregation on variance. The results are intended to inform participants in expert elicitation exercises on future economic growth uncertainty.
Settling The Inflation Targeting Debate Lights From A Meta Regression Analysis
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Author : Hippolyte W. Balima
language : en
Publisher: International Monetary Fund
Release Date : 2017-09-29
Settling The Inflation Targeting Debate Lights From A Meta Regression Analysis written by Hippolyte W. Balima and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-09-29 with Business & Economics categories.
Inflation targeting (IT) has gained much traction over the past two decades, becoming a framework of reference for the conduct of monetary policy. However, the debate about its very merits and macroeconomic consequences remains inconclusive. This paper digs deeper into the issue through a meta-regression analysis (MRA) of the existing literature, making it the first application of a MRA to the macroeconomic effects of IT adoption. Building on 8,059 estimated coefficients from a very broad sample of 113 studies, the paper finds that the empirical literature suffers from two types of publication bias. First, authors, editors and reviewers prefer results featuring beneficial effects of IT adoption on inflation volatility, real GDP growth and fiscal performances; second, they promote results with estimated coefficients that are significantly different from zero. However, after filtering out the publication biases, we still find meaningful (genuine) effects of IT in reducing inflation and real GDP growth volatility, but no significant genuine effects on inflation volatility and the level of real GDP growth. Interestingly, the results indicate that the impact of IT varies systematically across studies, depending on the sample structure and composition, the time coverage, the estimation techniques, country-specific factors, IT implementation parameters, and publication characteristics.