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- W2264748064 abstract "In this paper we investigate the sources of the important shifts in the volatility of U.S. macroeconomic variables in the postwar period. To this end, we propose the estimation of DSGE models allowing for time variation in the volatility of the structural innovations. We apply our estimation strategy to a large-scale model of the business cycle and find that investment specific technology shocks account for most of the sharp decline in volatility of the last two decades." @default.
- W2264748064 created "2016-06-24" @default.
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- W2264748064 date "2006-07-04" @default.
- W2264748064 modified "2023-09-27" @default.
- W2264748064 title "The Time Varying Volatility of Macroeconomic Fluctuations" @default.
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