The decline in macroeconomic volatility from the 1980s to the onset of the Great Recession did not, in general …, translate into more microeconomic stability. While microeconomic volatility can reflect growth-generating processes, such as … creative destruction and re-allocation of resources, consumption growth volatility weighs on households’ welfare. This study …

micro-based banking production, enables a contrasting characterization of the two great volatility cycles over the … historical period of 1919-2004, and enables this puzzle to be addressed more easily. The volatility divergence is explained by … the upswing in the credit volatility that kept money supply variability from translating into inflation and GDP volatility. …

growth and shocks volatility in a model with procyclical R&D and imperfect competition in goods and labour markets. We show …

co-variances. The principal explanation for the decline in GDP volatility is a fall in the sum of sector variances driven … dominant influence on the profile of GDP volatility and this influence has not diminished. Despite marked changes in sector … been a significant factor influencing the decline in GDP volatility. We postulate that policy interventions such as “Think …

In a monetary growth model, I show that average inflation inhibits growth while inflation volatility enhances it. The … effect of nominal volatility on human capital accumulation depends on the response of money demand and the corresponding …

utility of these methods for modelling growth and volatility regimes present in the New Zealand data and their interaction … their mean and volatility over time. The paper discusses applications of the methodology to identifying changes in growth … performances, and examines the timing of growth and volatility regime switching between production sectors. Conclusions to emerge …

investment funds traces out a meanvariance tradeoff for the growth rate of the economy. In particular, the volatility of these … and volatility. …

I revisit the relationship between growth and volatility in two different disaggregated datasets. I confirm that growth … and volatility are negatively related across countries, but show that the relation reverses itself across sectors. This … aggregate volatility that is common across sectors that correlates negatively with aggregate growth. Furthermore, while …