Declining output growth volatility: A sectoral decomposition

被引：0
|
作者：
Chun, Hyunbae [1 ]
Kim, Jung-Wook [2 ]
机构：
[1] Sogang Univ, Dept Econ, Seoul 121742, South Korea
[2] Seoul Natl Univ, Coll Business Adm, Seoul 151916, South Korea
来源：
ECONOMICS LETTERS | 2010年 / 106卷 / 03期
关键词：
Great moderation; Total factor productivity; Volatility;
D O I：
10.1016/j.econlet.2009.10.007
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
A decomposition of the U.S. aggregate output growth volatility using two-digit industry-level data shows that more than 60% of the post-1983 reduction in aggregate output growth volatility is attributed to the lowered comovement in total factor productivity (TFP) growth between industries. In contrast, stabilized input and TFP growths within an industry contribute little. (c) 2009 Elsevier B.V. All Fights reserved.
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页码：151 / 153
页数：3
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