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 stability has been fostered by improved monetary policy and by...
