Trypsteen, Steven - Centre for Finance, Credit and Macroeconomics (CFCM), … - 2014
This paper investigates the effect of output volatility and the great moderation on growth in a model that … that volatility affects growth positively, that there is a great moderation in five of the G7 countries and that the great … moderation has a negative effect on growth in all G7 countries. A simulation exercise shows that cross-country interactions are …