The Deep Historical Roots of Macroeconomic Volatility

Leung, Charles, Ka Yui; Tang, Sam Hak Kan

The Deep Historical Roots of Macroeconomic Volatility

Leung, Charles, Ka Yui; Tang, Sam Hak Kan

Institute of Social and Economic Research Discussion Papers, 2016, 967, 1-43

アクセス数:341件（2025-07-06 04:51 集計）

固定URL: https://hdl.handle.net/11094/56970

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タイトル	The Deep Historical Roots of Macroeconomic Volatility
著者	著者名 Leung, Charles, Ka Yui
著者	著者名 Tang, Sam Hak Kan
キーワード等	Macroeconomic volatility Technology adoption
	history of State-level institution
	History of agriculture
	Political stability
抄録	We present cross-country evidence that a country’s macroeconomic volatility, measured either by the standard deviation of output growth or the occurrence of trend-growth breaks, is significantly affected by the country’s historical variables. In particular, countries with longer histories of state-level political institutions experience less macroeconomic volatility in postwar periods. Robustness checks reveal that the effect of this historical variable on volatility remains significant and substantial after controlling for a host of structural variables investigated in previous studies. We also find that the state history variable is more important in countries with a higher level of macroeconomic volatility.
出版者	The Institute of Social and Economic Research, Osaka University
収録物名	Institute of Social and Economic Research Discussion Papers
巻(号)	967
ページ	1-43
刊行年月	2016-04
言語	英語
ハンドルURL	https://hdl.handle.net/11094/56970
関連情報 (references)	URI https://www.iser.osaka-u.ac.jp/static/resources/docs/dp/2016/DP0967.pdf
アクセス権	metadata only access
カテゴリ	ディスカッション／ワーキング・ペーパー DP/WP
カテゴリ	Institute of Social and Economic Research Discussion Papers

資源タイプ	テクニカルレポート
ローカル資源タイプ	ディスカッション／ワーキング・ペーパー
DCMI資源タイプ	text
DCTERMS.bibliographicCitation	Institute of Social and Economic Research Discussion Papers. 2016, 967, p. 1-43
DC.title	The Deep Historical Roots of Macroeconomic Volatility
DC.creator	Leung, Charles, Ka Yui
DC.creator	Tang, Sam Hak Kan
DC.publisher	The Institute of Social and Economic Research, Osaka University
DC.language' scheme='DCTERMS.RFC1766	英語
DC.type' scheme='DCTERMS.DCMIType	text
DCTERMS.issued' scheme='DCTERMS.W3CDTF	2016-04
DC.relation' scheme='DCTERMS.URI	https://www.iser.osaka-u.ac.jp/static/resources/docs/dp/2016/DP0967.pdf
DC.subject	Macroeconomic volatility Technology adoption
	history of State-level institution
	History of agriculture
	Political stability
DCTERMS.abstract	We present cross-country evidence that a country’s macroeconomic volatility, measured either by the standard deviation of output growth or the occurrence of trend-growth breaks, is significantly affected by the country’s historical variables. In particular, countries with longer histories of state-level political institutions experience less macroeconomic volatility in postwar periods. Robustness checks reveal that the effect of this historical variable on volatility remains significant and substantial after controlling for a host of structural variables investigated in previous studies. We also find that the state history variable is more important in countries with a higher level of macroeconomic volatility.
DC.format	56970
citation_title	The Deep Historical Roots of Macroeconomic Volatility
citation_author	Leung, Charles, Ka Yui
citation_author	Tang, Sam Hak Kan
citation_publisher	The Institute of Social and Economic Research, Osaka University
citation_language	英語
citation_date	2016-04
citation_journal_title	Institute of Social and Economic Research Discussion Papers
citation_volume	967
citation_firstpage	1
citation_lastpage	43
citation_public_url	https://hdl.handle.net/11094/56970
citation_abstract_html_url	https://www.iser.osaka-u.ac.jp/static/resources/docs/dp/2016/DP0967.pdf

The Deep Historical Roots of Macroeconomic Volatility

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