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- W3023486589 abstract "This paper argues that a specification of stochastic volatility commonly used to analyze the Great Moderation in DSGE models may not be appropriate, because the level of a process with this specification does not have conditional or unconditional moments. This is unfortunate because agents may as a result expect productivity and hence consumption to be inifinite in all future periods. This observation is followed by three ways to overcome the problem." @default.
- W3023486589 created "2020-05-13" @default.
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- W3023486589 date "2009-07-07" @default.
- W3023486589 modified "2023-09-27" @default.
- W3023486589 title "Stochastic Volatility and DSGE Models" @default.
- W3023486589 hasPublicationYear "2009" @default.
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