Learning and the Great Moderation

Preprint OPEN
Aarti Singh; James Bullard;
(2009)
  • Subject: Bayesian learning; business cycles; information; regime-switching | Business cycles ; Time-series analysis
    • jel: jel:E3 | jel:D8

We study a stylized theory of the volatility reduction in the U.S. after 1984 - the Great Moderation - which attributes part of the stabilization to less volatile shocks and another part to more difficult inference on the part of Bayesian households attempting to learn ... View more
  • References (13)
    13 references, page 1 of 2

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