haku: @indexterm International economics / yhteensä: 437
viite: 164 / 437
| Tekijä: | Cogley, T. |
| Otsikko: | International evidence on the size of the random walk in output |
| Lehti: | Journal of Political Economy
1990 : JUN, VOL. 98:3, p. 501-518 |
| Asiasana: | ECONOMIC GROWTH OECD INTERNATIONAL ECONOMICS USA |
| Kieli: | eng |
| Tiivistelmä: | Three extensions of Cochrane's work are contributed on measuring the relative stability of long-term growth. It estimates variance ratio for nine OECD countries over the period 1871-1985, presents an improved approximation to the distribution of the variance ration , and considers the comovements of long growth cycles across countries. The evidence indicates that the relative stability of long-term growth found by Cochrane is unique to the United States. Relative the United States, most countries have more variables dynamics at low frequencies and smoother dynamics at frequencies traditionally associated with business cycles. |
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