Research Article
Growth and Volatility Reconsidered: Reconciling Opposite Views
Table 1
List of countries in the main sample and averaged volatilities over the period 1978–2007.
| Country | GDP | Output | Consumption | Investment | Gov. consumpt. | growth | volatility | volatility | volatility | volatility |
| Australia | 0.0234 | 0.0203 | 0.0132 | 0.0785 | 0.0153 | Austria | 0.0206 | 0.0199 | 0.0170 | 0.0592 | 0.0100 | Belgium | 0.0206 | 0.0176 | 0.0124 | 0.0745 | 0.0148 | Canada | 0.0193 | 0.0238 | 0.0177 | 0.0792 | 0.0161 | Denmark | 0.0210 | 0.0225 | 0.0232 | 0.0891 | 0.0169 | Finland | 0.0257 | 0.0388 | 0.0262 | 0.1030 | 0.0194 | France | 0.0163 | 0.0151 | 0.0107 | 0.0554 | 0.0139 | Germany | 0.0192 | 0.0170 | 0.0142 | 0.0547 | 0.0166 | Greece | 0.0236 | 0.0264 | 0.0209 | 0.0849 | 0.0402 | Iceland | 0.0414 | 0.0404 | 0.0499 | 0.1474 | 0.0197 | Ireland | 0.0221 | 0.0389 | 0.0287 | 0.1059 | 0.0408 | Italy | 0.0196 | 0.0170 | 0.0191 | 0.0502 | 0.0180 | Japan | 0.0200 | 0.0215 | 0.0160 | 0.0016 | 0.0120 | Korea | 0.0557 | 0.0519 | 0.0454 | 0.1162 | 0.0230 | Luxembourg | 0.0384 | 0.0306 | 0.0183 | 0.1010 | 0.0213 | Mexico | 0.0139 | 0.0428 | 0.0400 | 0.1404 | 0.0318 | Netherlands | 0.0180 | 0.0178 | 0.0186 | 0.0544 | 0.0189 | New Zealand | 0.0258 | 0.0198 | 0.0184 | 0.0902 | 0.0219 | Norway | 0.0168 | 0.0209 | 0.0232 | 0.0869 | 0.0158 | Portugal | 0.0244 | 0.0320 | 0.0241 | 0.1025 | 0.0282 | Spain | 0.0258 | 0.0219 | 0.0205 | 0.0629 | 0.0178 | Sweden | 0.0194 | 0.0212 | 0.0214 | 0.0887 | 0.0137 | Switzerland | 0.0130 | 0.0190 | 0.0090 | 0.0610 | 0.0176 | United Kingdom | 0.0179 | 0.0188 | 0.0194 | 0.0683 | 0.0116 | United States | 0.0204 | 0.0212 | 0.0142 | 0.0736 | 0.0163 |
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