Explaining the Great Moderation : It is Not the Shocks

This paper shows that the explanation of the decline in the volatility of GDP growth since the mid-eighties is not the decline in the volatility of exogenous shocks but rather a change in their propagation mechanism

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Year of publication:	[2021]
Authors:	Giannone, Domenico ; Lenza, Michele ; Reichlin, Lucrezia
Publisher:	[S.l.] : SSRN
Subject:	Schock \| Shock \| Volatilität \| Volatility \| Wirtschaftswachstum \| Economic growth \| VAR-Modell \| VAR model \| Nationaleinkommen \| National income \| Politische Kommunikation \| Political communication

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