Recent U.S. Macroeconomic Stability
Good Policies, Good Practices, or Good Luck
Datos Bibliográficos
| ID | 19318690 |
|---|---|
| Autores | Shaghil Ahmed (Federal Reserve), Andrew Levin (0000-0002-5309-2864), Andrew T Levin (0000-0002-1136-6900, Federal Reserve), Beth Anne Wilson (Federal Reserve) |
| Año | 2004 |
| Volumen | 86 |
| Número | 3 |
| Páginas | 824-832 |
| Fecha de publicación | 2004-08-01 |
| Peer Reviewed | Sí |
| Open Access | No |
| Tipo | ARTICLE |
| Revista | The Review of Economics and Statistics (JOURNAL) |
| Identificadores de la revista | ISSN: 0034-6535 • E-ISSN: 1530-9142 |
| Editorial | MIT Press - Journals (PUBLISHER) |
| DOI | 10.1162/0034653041811662 |
| OpenAlex | W2100636337 |
| Idioma | EN |
| Citas recibidas | 19 |
| Referencias citadas | 5 |
The volatility of U.S. real GDP growth since 1984 has been markedlylowerthanoverthepreviousquartercentury.Weutilizefrequency-domain and VAR methods to distinguish among competing explanations for this reduction: improvements in monetary policy, better business practices, and a fortuitous reduction in exogenous disturbances. We find that reduced innovation variances account for much of the decline in aggregate output volatility, suggesting that good luck is the most likely explanation. Good practices and good policy appear to have played a more important role in explaining the post-1984 decline in the volatility of consumer price inflation
Business cycle · Econometrics · Economics · Inflation (cosmology) · Luck · Macroeconomics · Monetary economics · Monetary policy · Volatility (finance) · Economic Growth and Productivity · Market Dynamics and Volatility · Monetary Policy and Economic Impact
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Time‐varying volatility in the Chinese economy
Has Monetary Policy Become More Effective
Breaks in the Variability and Comovement of G-7 Economic Growth
Cross‐country Evidence on Output Growth Volatility
Les banques centrales au défi de la transition écologique
A Century of US Central Banking
Measuring the Time Inconsistency of US Monetary Policy
Oil and the Great Moderation
Monetary Policy, Endogenous Inattention and the Volatility Trade‐off
America's First Great Moderation
Interpreting the Great Moderation
| Obras citantes distintas | 19 |
|---|---|
| Citas por año | 0,86 |
| Intervalo de citas | 2004 - 2022 (19) |
| Velocidad de citación | historical |
| Altamente citado | No |
| Tipos de cita | Neutras: 17 |