US volatility cycles of output and inflation, 1919-2004: a\ud money and banking approach to a puzzle

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Benk, Szilard; Gillman, Max; Kejak, Michal; Cardiff University;
  • Publisher: Cardiff University
  • Subject: HB

The post-1983 moderation coincided with an ahistorical divergence in the money aggregate growth and velocity volatilities away from the downward trending GDP and inflation volatilities. Using an endogenous growth monetary DSGE model, with micro-based banking production,... View more
  • References (35)
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