Most of the reduction in GDP volatility since the 1983 is accounted for by a decline in comovement of output among … industries that hold inventories. This decline is not simply a passive byproduct of reduced volatility in common factors or …. Structural changes accounted for more than 80 percent of the reduction in output volatility, thus weakening the case for "good …

Why did the volatility of U.S. real GDP decline by more than the volatility of final sales with the Great Moderation in … production smoothing. Instead, smaller transitory inventory shocks are responsible for the excess volatility reduction in output …

The paper looks at an often debated issue - the decline observed in business cycle volatility - from a rather original … concentrates on the manufacturing sector, providing evidence that volatility slowdown is attributable to a break in the Data …' assessments of demand and inventories. In particular, inventories volatility has decreased, while volatility of production has …

production techniques are responsible for the decline in the volatility of U.S. GDP growth. Our innovations are to look at the … identification of this hypothesis, and to provide a complete accounting of the change in GDP volatility. Changes in inventory … behavior can account directly for only up to half of the total reduction in GDP volatility. Cross-section evidence from the …

volatility. Using monthly data of the industrial production indices in the five economies and applying the ARCH/GARCH models to … generate a measure of output volatility to conduct the two-step approach, the results show that output volatility positively … it will not alter the volatility and growth relationship …

This paper examines the transmission of GDP growth and GDP growth volatility among the G7 countries over the period … 1960Q1 – 2010Q4, using a multivariate GARCH model and volatility impulse response functions (VIRFs) to identify the source …, magnitude and the duration of volatility spillovers. Results indicate the presence of positive own-country GDP growth spillovers …

inventory investment data estimation, Japan is an ideal OECD country, with generous statistics availability. The conclusions of … inventory data in other countries focusing on its estimation process and source statistics, and in the great variety of …

played a reinforcing - rather than a leading-role in the volatility reduction. Movements in the volatility of manufacturing …. Although the volatility of total inventory investment has fallen, the decline occurred well before the mid-1980s and was driven …