The Long and Large Decline in U.S. Output Volatility

By Olivier J. Blanchard, John Simon. 2001

1,060 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/7ab32a7f6d890928f61e1e1471e560a08911c9d0

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Citations in the corpus

EU Productivity and Competitiveness: An Industry Perspective Can Europe Resume the Catching-up Process? (2003, background): “43 See for example McConnell and Perez-Quiros (2000), Blanchard and Simon (2001), Stock and Watson (2003) and, particularly Kahn, McConnell and Perez-Quiros (2002).”
Financial Openness and Business Cycle Volatility (2002, result): “_______________ 4 The finding that business cycle characteristics in the 1970s differ from those in later periods is consistent with work by Blanchard and Simon (2000) or Stock and Watson (2002).”
Business Cycle Synchronization in the Enlarged EU (2008, neutral): “The long-term decline in output volatility has been demonstrated for the US by Blanchard and Simon (2001).”
Central Bank Transparency and the Signal Value of Prices (2006, background): “The fact that policy responses 12as has been documented by McConnell and Perez-Quiros (2000), Kim and Nelson (1999) and Blanchard and Simon (2001). are endogenous, and that output uctuations have moderated all make forecasting more di cult.”
(Un)Predictability and Macroeconomic Stability (2006, positive): “This pattern is not limited to inflation but also extends to several indicators of real economic activity and to short- and long-term interest rates beyond the one month horizon.”
Impact of Globalization on Monetary Policy (2006, background): “(16)See, for example, Kim and Nelson (2001); Kahn, McConnell and Perez-Quiros (2001); Blanchard and Simon (2001); Bernanke (2004); Jaimovich and Siu (2006); Dynan, Elmendorf, and Sichel (2006); S. Campbell (2005); and International Monetary Fund World Economic Outlook April 2003.”
The Less-Volatile U.S. Economy (2001, background): “This observation has sparked a growing literature rigorously testing the statistical significance of the volatility reduction and documenting various stylized facts about the nature of the stabilization (see, e.g., Kim and Nelson 1999; McConnell and Perez-Quiros 2000; Kahn, McConnell, and Perez-Quir”
Testing for Volatility Changes in U.S. Macroeconomic Time Series (2004, background): “1 See Ahmed, Levin, and Wilson (2002), Blanchard and Simon (2001), Chauvet and Potter (2001), Herrera and Pesavento (2003), McConnell, Mosser, and Perez Quiros (1999), and Stock and Watson (2002), among others.”
The Macroeconomic Effects of Oil Price Shocks: Why are the 2000s so different from the 1970s? (2007, neutral): “Of course, that strand is in turn related to the literature on the “Great Moderation,” a term used to refer to the decrease in output fl uctuations over the last thirty years (e.g., Blanchard and Simon 2001; Stock and Watson 2003).”
The continuous wavelet transform : a primer (2011, positive): “These results are in line with Blanchard and Simon [5] who have argued that the large shocks in the 1970s and the deep contraction in early 1980s hide from view the longer term volatility decline that began a few decades before.”
Time-Varying Effects of Oil Supply Shocks on the US Economy (2008, neutral): “See, for instance, McConnell and Pérez-Quirós (2000), Blanchard and Simon (2001) and Stock and Watson (2003).”
The Structural Dynamics of U.S. Output and Inflation: What Explains the Changes? (2008, background): “For example, Blanchard and Simon (2000), McConnell and Perez Quiroz (2001), Sargent and Cogley (2001) and Stock and Watson (2003) have reported a marked decline in the volatility of real activity and inflation since the early 1980s and a reduction in the persistence of inflation over time.”