Output fluctuations in the United States
Subtitle: what has changed since the early 1980s?
By: Margaret M. McConnell and Gabriel Perez Quiros.
Contributors: Perez-Quiros, Gabriel, 1966-; Federal Reserve Bank of New York.
Series: Staff reports ;; no. 41; Staff reports (Federal Reserve Bank of New York : Online) ;; no. 41.
Publisher: Federal Reserve Bank of New York
Published: 1998
Place of publication: [New York, N.Y.]
Language: eng
Format: Electronic resource
Subjects: Business cycles -- United States -- Econometric models.; Gross domestic product; Economic indicators; United States; Economics -- Statistical methods.; Economics -- Statistics.
Genres: Statistics.
Description: "We document a structural break in the volatility of U.S.  GDP growth in the first quarter of 1984, and provide evidence that this break emanates from a reduction in the volatility of durable goods production.  We find no evidence of increased stability in the nondurables, services or structures sectors of the economy.  In addition, no other G7 country experienced a contemporaneous reduction in output volatility.  Finally, we show that the reduction in durables volatility corresponds to a decline in the share of durable goods accounted for by inventories"--Federal Reserve Bank of New York web site.
Notes: Includes bibliographical references.
Title from PDF file as viewed on 2/2/2005.
Also available in print.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.