Global evidence on the distribution of GDP growth rates

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• 作者：Michael A. Williams ; ^{mwilliams@competitioneconomics.com} ; Grace Baek ^{gbaek@competitioneconomics.com} ; Yiyang Li ^{yli@competitioneconomics.com} ; Leslie Y. Park ^{lpark@competitioneconomics.com} ; Wei Zhao ^{wzhao@competitioneconomics.com}
• 关键词：GDP growth rates ; Theoretical distributions ; Empirical distribution function tests
• 刊名：Physica A: Statistical Mechanics and its Applications
• 出版年：2017
• 出版时间：15 February 2017
• 年：2017
• 卷：468
• 期：Complete
• 页码：750-758
• 全文大小：464 K
• 卷排序：468

文摘

We use global data to examine empirically the distribution of GDP growth rates. We use the data to test eight theoretical distributions with EDF statistics. The consensus finding in the literature supports the Laplace distribution. GDP growth rates are better fit by the Cauchy distribution, particularly for samples with fat tails.