Benati, Luca; Surico, Paolo - European Central Bank - 2008
Most analyses of the U.S. Great Moderation have been based on structural VAR methods, and have consistently pointed … these results are in line with those found in the structural VARbased literature on the Great Moderation, our analysis … suggests that existing VAR evidence is compatible with the ‘good policy’ explanation of the Great Moderation. JEL …