UK Output Variability and Growth: Some Further Evidence

Alan E. H. Speight

Scottish Journal of Political Economy, 1999, vol. 46, issue 2, 175-184

Abstract: This paper re‐examines the empirical evidence concerning the relationship between UK output variability and growth using GARCH‐M models applied to post‐war monthly industrial production data, estimated under quasi‐maximum‐likelihood with the consistent variance–covariance estimator of Bollerslev and Wooldridge (1992). In contrast to previous results suggesting a significant positive relationship between UK output variability and growth, we find no significant relationship. Rather than suggesting a connection between risk and return in the attitudes of investors, our findings may be interpreted as more supportive of macroeconomic models which dichotomize the determination of output growth and variability.

Date: 1999
References: Add references at CitEc
Citations: View citations in EconPapers (34)

Downloads: (external link)
https://doi.org/10.1111/1467-9485.00127

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bla:scotjp:v:46:y:1999:i:2:p:175-184

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0036-9292

Access Statistics for this article

Scottish Journal of Political Economy is currently edited by Tim Barmby, Andrew Hughes-Hallett and Campbell Leith

More articles in Scottish Journal of Political Economy from Scottish Economic Society Contact information at EDIRC.
Bibliographic data for series maintained by Wiley Content Delivery ().