Dhawan, Rajeev; Jeske, Karsten; Silos, Pedro - In: Review of Economic Dynamics 13 (2010) 3, pp. 715-724
We build upon recent research that attributes the moderation of output volatility since the 1980s to the reduced volatility of the Total Factor Productivity (TFP) by investigating the linkage between energy price fluctuations and the stochastic process for TFP. First, we estimate a joint...