Until the 1980s, short-run economic fluctuations and
growth were viewed as separate processes. However,
recent studies suggest that short-run fluctuations
might influence the growth. This new view supports
the existence of a link between volatility and growth
of output, which is important for policy makers as
high economic growth and reducing business cycle
volatility might either be viewed as complementary
policy goals or as tradeoffs.
This book aims to provide a better understanding of
the link between volatility and growth. The link is
examined using three samples of countries...