Do economies stall?

A 'stalling' economy has been defined as one that experiences a discrete deterioration in economic performance following a decline in its growth rate to below some threshold level. We examine the international evidence for stalling in a panel of 51 economies using two different definitions...

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Bibliographic Details
Published in:Applied economics 2014-12, Vol.46 (35), p.4267-4275
Main Authors: Ho, Wai-Yip Alex, Yetman, James
Format: Article
Language:English
Subjects:
Bootstrap mechanism
Business cycles
Economic growth
Economic performance
Growth rate
Growth rates
Manycountries
Recessions
sieve bootstrap
stall speed
Studies
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Summary:A 'stalling' economy has been defined as one that experiences a discrete deterioration in economic performance following a decline in its growth rate to below some threshold level. We examine the international evidence for stalling in a panel of 51 economies using two different definitions of a stall threshold (time-invariant and related to lagged average growth rates). We find that the evidence for stalling is limited: only 7-12 of the economies in our sample experience statistically significant stalls at the 5% level based on any one definition.
ISSN:0003-6846
1466-4283
DOI:10.1080/00036846.2014.955255