This study examines the relationship between U.S. output growth and its volatility over the period 1875:Q1 to 2008:Q2 … breaks in the growth rate and its volatility. In so doing, we employ autoregressive generalized conditional … growth rate and its volatility with and without structural breaks in the mean and volatility processes. We discover one break …

This paper investigates whether volatility of financial development plays a role in determining industrial growth … volatility. Three key findings emerge. First, overwhelming evidence supports the view that more volatile financial development … raises the industrial volatility in sectors that rely more on external liquidity. Second, the harmful effect of financial …

volatility over the period 1947 to 2006. First, we consider the possible effects of structural change in the volatility process …. In so doing, we employ GARCH-M and ARCH-M specifications of the process describing output growth rate and its volatility … with and without a one-time structural break in volatility. Second, our data analyses and empirical results suggest no …