Lambert, Peter J.; Yitzhaki, Shlomo - In: Economics Letters 129 (2015) C, pp. 71-73
The average of periodic growth rates is a downwardly biased estimator of the rate of growth of a country. The higher the variance of the periodical growth rates, the higher the downward bias. The longer the business cycle, the higher the downward bias. In this short paper, we demonstrate these...