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Author:Hulseman, Edward 

Discussion Paper
Was There a Great Moderation for Inflation Volatility?

Most accounts of the "Great Moderation"--a decline in macroeconomic volatility in the decades prior to the Great Recession--focus on employment growth and GDP growth. In this note, we demonstrate that the decline in core inflation volatility at a monthly frequency is principally an artifact of data construction.
FEDS Notes , Paper 2017-06-29

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