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 …

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 …

decreases output volatility relative to sales volatility, lower levels of inventories actually increases sales volatility …. Because these two effects offset each other, a change in inventory management does not change output volatility to any great …

give rise to hump-shaped output dynamics and significantly higher volatility of GDP. Such predictions are in sharp contrast …

spending - are responsible for the bulk of the decline in overall volatility …

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 …

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 …