Output composition and the US output volatility decline

Francisco Alcalá and Israel Sancho
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Israel Sancho: University of Murcia

Macroeconomics from University Library of Munich, Germany

Abstract: We argue that the role played by output-composition changes on the decline in US output volatility has been incorrectly assessed in the recent literature. We obtain that shifts across broad sectors in the economy account for about thirty-percent of the volatility decline since the 1950’s.

Keywords: volatility; business fluctuations (search for similar items in EconPapers)
JEL-codes: E32 (search for similar items in EconPapers)
Pages: 9 pages
Date: 2003-07-09, Revised 2003-07-09
New Economics Papers: this item is included in nep-mac
Note: Type of Document - ; pages: 9
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Citations: View citations in EconPapers (3)

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Related works:
Journal Article: Output composition and the US output volatility decline (2004)
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Persistent link: https://EconPapers.repec.org/RePEc:wpa:wuwpma:0307005

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