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Fortune or Virtue: Time Variant Volatilities versus Parameter Drifting in U.S. Data

  • Juan Rubio-Ramirez

    (Duke University)

  • Jesus Fernandez-Villaverde

    (University of Pennsylvania)

  • Pablo A. Guerron-Quintana

    (Philadelphia Federal Reserve Bank)

policy rules during Volckers tenure as Chairman of the Fed. At the same time, we document how good volatility shocks played an important role in the great performance of the economy during the 1990s.

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Paper provided by Society for Economic Dynamics in its series 2010 Meeting Papers with number 270.

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Date of creation: 2010
Handle: RePEc:red:sed010:270
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Society for Economic Dynamics Marina Azzimonti Department of Economics Stonybrook University 10 Nicolls Road Stonybrook NY 11790 USA

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