Artikel
Scaling of Growth Rate Volatility for Six Macroeconomic Variables
We study the annual growth rates of six macroeconomic variables: public debt, public health expenditures, exports of goods, government consumption expenditures, total exports of goods and services, and total imports of goods and services. For each variable, we find (i) that the distribution of the growth rate residuals approximately follows a double exponential (Laplace) distribution and (ii) that the standard deviation of growth rate residuals scales according to the size of the variable as a power law, with a scaling exponent similar to the scaling exponent found for GDP [Economics Letters 60, 335 (1998)]. We hypothesise that the volatility scaling we find for these GDP constituents causes the volatility scaling found in GDP data.
- Language
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Englisch
- Bibliographic citation
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Journal: Contemporary Economics ; ISSN: 2084-0845 ; Volume: 6 ; Year: 2012 ; Issue: 2 ; Pages: 20-25 ; Warsaw: Vizja Press & IT
- Classification
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Wirtschaft
- Subject
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composite index
complex phenomena
dynamics
- Event
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Geistige Schöpfung
- (who)
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Podobnik, Boris
Horvatic, Davor
Njavro, Djuro
Njavro, Mato
Stanley, H. Eugene
- Event
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Veröffentlichung
- (who)
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Vizja Press & IT
- (where)
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Warsaw
- (when)
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2012
- DOI
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doi:10.5709/ce.1897-9254.45
- Handle
- Last update
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10.03.2025, 11:42 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Artikel
Associated
- Podobnik, Boris
- Horvatic, Davor
- Njavro, Djuro
- Njavro, Mato
- Stanley, H. Eugene
- Vizja Press & IT
Time of origin
- 2012
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