The changing composition of output and the great moderation

An additional explanation is provided for the decline in output variability that began in the mid-1980s. Using state, regional and aggregate data for the US, we examine the shifting influence from manufacturing to services on this variability. At all levels, we find support for this output composition change contributing to the reduced variability of output growth.

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Year of publication:	2009
Authors:	Black, David ; Dowd, Michael
Published in:	Applied Economics Letters. - Taylor & Francis Journals, ISSN 1350-4851. - Vol. 16.2009, 12, p. 1265-1270
Publisher:	Taylor & Francis Journals

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10004966448