Recent changes in the U.S. business cycle
Published
2001
Publisher
Federal Reserve Bank of New York
Description
"The U.S. business cycle expansion that started in March 1991 is the longest on record. This paper uses statistical techniques to examine whether this expansion is a onetime unique event or whether its length is a result of a change in the stability of the U.S. economy. Bayesian methods are used to estimate a common factor model that allows for structural breaks in the dynamics of a wide range of macroeconomic variables. We find strong evidence that a reduction in volatility is common to the series examined. Further, the reduction in volatility implies that future expansions will be considerably longer than the historical average"--Federal Reserve Bank of New York web site.
The great crash, 1929
Manias, panics, and crashes
The theory of business enterprise 1904
This time is different
The design of experiments
A short history of financial euphoria
Frequently Asked Questions
Who is the author of Recent changes in the U.S. business cycle?
Recent changes in the U.S. business cycle was written by Marcelle Chauvet.
When was Recent changes in the U.S. business cycle published?
The publication date for this specific edition is 2001. The original work may have been published on a different date.