Explaining The Great Moderation: It Is Not The Shocks
Journal of the European Economic AssociationPublished 1 April 2008
Domenico Giannone, Michèle Lenza, Lucrezia Reichlin
Citations171
SJR quartileQ1
SJR score7.50
SNIP2.68
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Abstract
This paper shows that the explanation of the decline in the volatility of GDP growth since the mid 1980s is not the decline in the volatility of exogenous shocks but rather a change in their propagation mechanism.
Keywords
Economics, Econometrics and Finance
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