This paper revisits the issue of conditional volatility in real GDP growth rates for Canada, Japan, the United Kingdom …, and the United States. Previous studies find high persistence in the volatility. This paper shows that this finding … conditional heteroskedasticity (GARCH) specifications modeling output growth and its volatility with and without the break in …

;Great Moderationquot; can be found in firm level data as well remains disputed. We study the evolution of firm level output volatility … trends in unconditional firm level and aggregated output volatility in Germany are similar. There has been a long …-run downward trend, which was interrupted by the unification period. Second, the conditional, idiosyncratic firm level volatility …

1970s' United States would not have prevented the Great Inflation. We show that a standard policy counterfactual suggests … that the Bundesbank – which is near-universally credited for sparing West Germany the Great Inflation – would also not have … been able to prevent the Great Inflation in the United States. The sheer implausibility of this result sounds a cautionary …

Verflechtungen auf 0,3% in Relation zum Bruttoinlandsprodukt geschätzt. Diese Größenordnung ergibt sich auch aus dem internationalen … auf 0,1% des Bruttoinlandsproduktes. Insgesamt könnte das deutsche Bruttoinlandsprodukt in den ein bis zwei Jahren nach …