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Progress Towards Economic Stability
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This article is published in Research Papers in Economics.The article was published on 1969-01-01 and is currently open access. It has received 68 citations till now. The article focuses on the topics: Economic stability.read more
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On Adjusting the Hodrick-Prescott Filter for the Frequency of Observations
Morten O. Ravn,Harald Uhlig +1 more
TL;DR: In this paper, the Hodrick-Prescott filter parameter was adjusted by multiplying it with the fourth power of the observation frequency ratios, which yields an HP parameter value of 6.25.
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Has the u.s. economy become more stable? a bayesian approach based on a markov-switching model of the business cycle
Chang-Jin Kim,Charles R. Nelson +1 more
TL;DR: In this article, the authors employ a Bayesian approach to identify a structural break at an unknown changepoint in a Markov-switching model of the business cycle, with the posterior mode of the break date at 1984.
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Has the Business Cycle Changed and Why
James H. Stock,Mark W. Watson +1 more
TL;DR: In this paper, the authors investigated the role of various explanations for the cyclical volatility of real economic activity and concluded that the moderation in volatility is attributable to a combination of improved policy, identifiable good luck in the form of productivity and commodity price shocks, and other unknown forms of...
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International Evidence on the Historical Properties of Business Cycles
David Backus,Patrick J. Kehoe +1 more
TL;DR: In this article, the authors compare properties of real quantities with those of price levels and stocks of money for ten countries over the last century and find that real quantities have remarkably uniform relations among real quantities.
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The Long and Large Decline in U.S. Output Volatility
Olivier Blanchard,John Simon +1 more
TL;DR: In this paper, the authors argue that the U.S. economy has experienced a large underlying decline in output volatility over the last twenty years and that this decline is not the byproduct of a "New Economy" or of Alan Greenspan's talent.
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Has the u.s. economy become more stable? a bayesian approach based on a markov-switching model of the business cycle
Chang-Jin Kim,Charles R. Nelson +1 more