Stock market volatility was extremely high during the Great Depression relative to any other period in American history …-Nielsen and Shephard (2004) test for jumps in financial time-series. These jumps coincided with periods when stock volatility was … high as the arrival of new information about the uncertain future drove both the record stock volatility and the record …

intertemporal price. The model space is limited to stochastic volatility (SV) in the errors of the MS-BVARs. Of the 15 MS …

intertemporal price. The model space is limited to stochastic volatility (SV) in the errors of the MS-BVARs. Of the 15 MS …

economies? The paper develops a new comparative data set on the usage of electricity in the manufacturing sectors of the USA …

Texas, California, Arizona, New Mexico, Colorado, Utah, Wyoming and Nevada had they not joined the USA. We show that the … growth paths of Puerto Rico, Cuba, the Philippines and Greenland in the scenario where they joined the USA at times in … institutional quality of the USA as a whole matches the quality predicted for New England most closely. This suggests that upon …

structure and a substantial reduction of output volatility. We find two robust structural breaks in volatility at the end of … volatility reduction is only linked to expansion features. We also date the US business cycle in the long run, finding that … volatility plays a primary role in the definition of the business cycle, which has important consequences for econometricians and …