Business Cycle Volatility in Germany

Claudia Buch, Christian Pierdzioch and Doepke Joerg
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Doepke Joerg: Deutsche Bundesbank,Frankfurt, Germany

German Economic Review, 2004, vol. 5, issue 4, 451-479

Abstract: Stylized facts suggest that output volatility in OECD countries has declined in recent years. The causes and the nature of this decline have so far been analyzed mainly for the United States. In this paper, we analyze whether structural changes in output volatility in Germany can be detected. We report evidence that output volatility has declined in Germany. It is difficult to answer the question whether this decline in output volatility reflects good economic and monetary policy or merely ‘good luck’.

Keywords: Business cycle volatility; Germany; vector autoregression (search for similar items in EconPapers)
Date: 2004
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Journal Article: Business Cycle Volatility in Germany (2004)
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DOI: 10.1111/j.1465-6485.2004.00117.x

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