The ability of institutions to effectively manage and aggregate risk-related data is an essential precondition for sound decision-making and strong risk governance. This applies to any data used to steer and manage institutions, both strategically and operationally, as well as data used for...

This paper shows that the explanation of the decline in the volatility of GDP growth since the mid-eighties is not the decline in the volatility of exogenous shocks but rather a change in their propagation mechanism. JEL Classification: E32, E37, C32, C53