Fortune or Virtue: Time-Variant Volatilities Versus Parameter Drifting in U.S. Data
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This paper compares the role of stochastic volatility versus changes in monetary policy rules in accounting for the time-varying volatility of U.S. aggregate data. Of special interest to us is understanding the sources of the great moderation of business cycle fluctuations that the U.S. economy
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美国国家经济研究局创建时间：
2010-04-01
