Browsing BI Research Centre's Series by Subject "Great Moderation"
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Oil and macroeconomic (in)stability
(CAMP Working Paper Series;No. 6/2017, Working paper, 2017-11)We analyze the role of oil price volatility in reducing U.S. macroeconomic insta- bility. Using a Markov Switching Rational Expectation New-Keynesian model we revisit the timing of the Great Moderation and the sources of ...