Resource title

Business Cycle Volatility in Germany

Resource image

image for OpenScout resource :: Business Cycle Volatility in Germany

Resource description

Stylized facts suggest that output volatility in OECD countries has declined in recent years. However, 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 breaks in the dynamics and the volatility of the real output process in Germany can be detected. We report evidence that output volatility has declined in Germany. Yet, this decline in output volatility is not as clear-cut as it is in the case of the United States. In consequence, it is difficult to answer the question whether the decline in output volatility in Germany reflects good economic and monetary policy or merely ?good luck?.

Resource author

Claudia M. Buch, Joerg Doepke, Christian Pierdzioch

Resource publisher

Resource publish date

Resource language

eng

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/17797

Resource license

Adapt according to the presented license agreement and reference the original author.