Explaining The Great Moderation: It Is Not The Shocks

Domenico Giannone, Michele Lenza and Lucrezia Reichlin

Journal of the European Economic Association, 2008, vol. 6, issue 2-3, 621-633

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. (JEL: E32, E37, C32, C53) (c) 2008 by the European Economic Association.

JEL-codes: C32 C53 E32 E37 (search for similar items in EconPapers)
Date: 2008
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Citations: View citations in EconPapers (108)

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Working Paper: Explaining the Great Moderation: it is not the shocks (2008)
Working Paper: Explaining the great moderation: it is not the shocks (2008)
Working Paper: Explaining The Great Moderation: It Is Not The Shocks (2007)
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