GNP Volatility, Standard Estimates
Created on October 24, 2014
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Read the original report, "Federal Reserve Performance: Have Business Cycles Really Been Tamed?" by Norbert J. Michel.
Notes: GNP deviation from trend is measured using Hodrick–Prescott Filter. GNP is according to the standard Kuznets series as reported by Selgin, Lastrapes, and White. Source: George Selgin, William Lastrapes, and Lawrence White, “Has the Fed Been a Failure?” Journal of Macroeconomics, Vol. 34 (2012), pp. 569–596, Table 2.
CHART 1 • BG 2965
Tags: federal-reserve, business-cycles