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dc.contributor.authorBenk, Szilárden
dc.contributor.authorGillman, Maxen
dc.contributor.authorKejak, Michalen
dc.date.accessioned2010-02-24-
dc.date.accessioned2012-11-02T14:28:44Z-
dc.date.available2012-11-02T14:28:44Z-
dc.date.issued2008-
dc.identifier.urihttp://hdl.handle.net/10419/65792-
dc.description.abstractThe post-1983 moderation coincided with an ahistorical divergence in the money aggregate growth and velocity volatilities away from the downward trending GDP and inflation volatilities. Using an endogenous growth monetary DSGE model, with micro-based banking production, enables a contrasting characterization of the two great volatility cycles over the historical period of 1919-2004, and enables this puzzle to be addressed more easily. The volatility divergence is explained by the upswing in the credit volatility that kept money supply variability from translating into inflation and GDP volatility.en
dc.language.isoengen
dc.publisher|aCardiff University, Cardiff Business School |cCardiffen
dc.relation.ispartofseries|aCardiff Economics Working Papers |xE2008/28en
dc.subject.jelE13en
dc.subject.jelE32en
dc.subject.jelE44en
dc.subject.ddc330en
dc.subject.keywordvolatilityen
dc.subject.keywordmoney and credit shocksen
dc.subject.keywordgrowthen
dc.subject.keywordinflationen
dc.subject.stwGesamtwirtschaftliche Produktionen
dc.subject.stwInflationsrateen
dc.subject.stwVolatilitäten
dc.subject.stwKreditmarkten
dc.subject.stwGeldangeboten
dc.subject.stwDynamisches Gleichgewichten
dc.subject.stwUSAen
dc.titleUS volatility cycles of output and inflation, 1919 - 2004: A money and banking approach to a puzzle-
dc.typeWorking Paperen
dc.identifier.ppn588141771en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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