Institutional Causes of Macroeconomic Volatility

We investigate the relation between the quality of institutions and macroeconomic volatility. Using instrumental variable regressions, we show that higher barriers to entry lead to higher volatility. In particular, a one standard deviation increase in entry costs increases the standard deviation of output growth by roughly 40% of its average value in our sample. To the contrary, property rights protection has no statistically significant effect on volatility

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Year of publication:	2008
Authors:	Barseghyan, Levon ; DiCecio, Riccardo
Publisher:	[S.l.] : SSRN
Subject:	Institutionelle Infrastruktur \| Institutional infrastructure \| Volatilität \| Volatility \| Konjunktur \| Business cycle \| Wirtschaftspolitik \| Economic policy \| Wirkungsanalyse \| Impact assessment \| Argentinien \| Argentina

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Extent:	1 Online-Ressource (42 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments November 2008 erstellt
Other identifiers:	10.2139/ssrn.1152358 [DOI]
Classification:	O11 - Macroeconomic Analyses of Economic Development ; O17 - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10014216941