Publication
Oct 2002
This paper analyzes whether the dynamics and the volatility of the real output process in Germany have experienced structural breaks in the years before 2002. The authors find that output volatility has declined while the decline is not as clear-cut as it is in the case of the US. Therefore, they remark that the question whether the decline in output volatility in Germany reflects good economic and monetary policy or merely 'good luck' is hard to answer.
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English (PDF, 34 pages, 399 KB) |
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Author | Claudia M Buch, Joerg Doepke, Christian Pierdzioch |
Series | Kiel Institute Working Papers |
Issue | 1129 |
Publisher | Kiel Institute for the World Economy |
Copyright | © 2002 Kiel Institute for the World Economy |