Martin, Bill; Rowthorn, Bob - In: CESifo economic studies : CESifo, a joint initiative of … 51 (2005) 4, pp. 649-696
There is no consensus about the causes of the reduction in business cycle volatility seen in many major economies over … the last decade. Using stylised models of the economies of the US, Euro area, UK and Japan, we argue that economic … itself led to a reduction in the volatility of economic shocks. Our projections suggest that a number of major economies …
