The link between volatility and technical progress: cross-country evidence

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This paper provides strong evidence showing that the rate of technical progress plays an important role in stabilizing business cycle volatility. Empirical tests consistently indicate that business cycle volatility diminishes with increasing rates of technical progress. Using alternative estimates of technical progress and datasets do not alter the conclusion. (C) 2002 Elsevier Science B.V. All rights reserved.
Original languageEnglish
Pages (from-to)335-341
JournalEconomics Letters
Publication statusPublished - 2002


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