International Evidence on the Size of the Random Walk in Output
Bibliographic Data
| ID | 10179397 |
|---|---|
| Authors | Timothy Cogley (corresponding author) |
| Year | 1990 |
| Volume | 98 |
| Issue | 3 |
| Pages | 501-518 |
| Publication date | 1990-06-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Journal of Political Economy (JOURNAL) |
| Journal identifiers | ISSN: 0022-3808 • E-ISSN: 1537-534X |
| Publisher | University of Chicago Press (PUBLISHER • US) |
| DOI | 10.1086/261692 |
| OpenAlex | W2237888876 |
| Language | EN |
| Citations received | 13 |
| References cited | 1 |
This paper contributes three extensions of John H. Cochrane's work on measuring the relative stability of long-term growth. It estimates variance ratios for nine OECD countries over the period 1871-1985, presents an improved approximation to the distribution of the variance ratio, 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 to the United States, most countries have more variable dynamics at low frequencies and smoother dynamics at frequencies traditionally associated with business cycles. Copyright 1990 by University of Chicago Press
Business cycle · Econometrics · Economics · Macroeconomics · Physics · Random walk · Stability (learning theory · Statistics · Term (time · Thermodynamics · Variable (mathematics · Variance (accounting · Work (physics · Computer Science · Economic Growth and Productivity · Economic Theory and Policy · Mathematics · Monetary Policy and Economic Impact
Convergence in international output
From Data to Causes I
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Recursive and Sequential Tests of the Unit-Root and Trend-Break Hypotheses
Uncertainty About the Persistence of Economic Shocks
Variance-Ratio Tests
Are Economic Fluctuations Really Persistent? A Reinterpretation of Some International Evidence
Do the Asean countries have a common business cycle
Terms of trade fluctuations and economic growth in developing economies
The effect of government spending on the current account, output, and expenditures
Raízes unitárias, flutuações econômicas e a “persistência” dos choques
Comparing British and American Economic and Industrial Performance 1860–1993
A Long run structural macroeconometric model of the UK
| Unique citing works | 13 |
|---|---|
| Citations per year | 0,37 |
| Citation span | 1991 - 2020 (30) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 13 |