Fernández-Villaverde, Jesús; Guerrón-Quintana, Pablo; … - Department of Economics, University of Pennsylvania - 2010
fall of the great American inflation from the late 1960s to the early 1980s and of the great moderation of business cycle … outcomes across these periods is attributed to the time-varying volatility of shocks. The history for inflation is more nuanced …, as a more vigorous stand against it would have reduced inflation in the 1970s, but not completely eliminated it. In …