| A Generalized Volatility Bound for Dynamic Economies (2003) | |||||||||||||||
Abstract | |||||||||||||||
| We develop a generalization of the Hansen-Jagannathan (1991) volatility bound that (i) version of the bound. This generalization enables us to judge whether models match important aspects of the data in the long run, at business cycle frequencies, seasonal frequencies, etc. | |||||||||||||||
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