Scaling the volatility of GDP growth rates.

Canning, D, Amaral, LAN, Lee, Y, Meyer, M, Stanley, HE.
Econ. Lett. 60, 335-341 (1998)

Times cited: 49

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Abstract

The distribution of shocks to GDP growth rates is found to be exponential rather than normal. Their standard deviation scales with GDP(beta) where beta = -0.15 +/- 0.03. These macroeconomic results place restrictions on the microeconomic structure of interactions between agents. (C) 1998 Elsevier Science S.A.