Fuentes-Albero, Cristina - Federal Reserve Board (Board of Governors of the … - 2014
I revisit the Great Inflation and the Great Moderation. I document an immoderation in corporate balance sheet variables … so that the Great Moderation is best described as a period of divergent patterns in volatilities for real, nominal and … by bad luck, the Great Moderation is mostly due to better institutions; (ii) the slowdown in credit spreads is driven by …