A Decomposition of the Increased Stability of GDP Growth

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Current Issues in Economics and Finance

A Decomposition of the Increased Stability of GDP Growth

August 1999 Volume 5, Number 13

JEL classification: E3, E22, E32

Authors: Margaret M. McConnell, Patricia C. Mosser, and Gabriel Perez Quiros

Since 1984, the U.S. economy has grown at a remarkably steady pace. An analysis of this increased stability shows that every major component of GDP has exhibited smoother growth. However, two components—inventory investment and consumer spending—are responsible for the bulk of the decline in overall volatility.

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6 pages / 195 kb

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