Re: Boom Boom Boom Boom :)

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Article #732

#732

From: Mike Orszag
Date: Sat, 29 Aug 1992 22:01

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One explanation for the perceived lower volatility of postwar GNP in
the U.S. and abroad is better measurement of data. Christina Romer
(1986; Journal of Political Economy) has reconstructed the postwar
data by using the same construction techniques as for prewar data
and found little difference in variance. This research is
controversial and has been challenged by among others Balke and Gordon
at Northwestern. I don't think the differences in volatility of GNP
have anything at all to do with the size of economies and there
are no theories to suggest that this should be the case.

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<1992Aug25.224147.3744@desire.wright.edu> <thompson.714931542@daphne.socsci.umn.edu> <1992Aug27.223955.29342@pony.Ingres.COM>

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Path: arc1-ca.pugleaf.net!sparky!uunet!ogicse!uwm.edu!linac!att!princeton!taylor.princeton.edu!jmo
From: jmo@taylor.princeton.edu (Mike Orszag)
Newsgroups: misc.headlines,talk.politics.misc,alt.activism,sci.econ
Subject: Re: Boom Boom Boom Boom :)
Message-ID: <1992Aug29.220112.19149@Princeton.EDU>
Date: 29 Aug 92 22:01:12 GMT
Article-I.D.: Princeto.1992Aug29.220112.19149
References: <1992Aug25.224147.3744@desire.wright.edu> <thompson.714931542@daphne.socsci.umn.edu> <1992Aug27.223955.29342@pony.Ingres.COM>
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