Results 221 to 230 of about 172,325 (255)

The heterogeneous Great Moderation

European Economic Review, 2015
In this paper I show that a more accurate analysis of the Great Moderation leads to interesting and novel findings about macroeconomic volatility dynamics in the last decades. The main empirical result of the paper is that the Great Moderation has diversely affected macroeconomic volatility at different horizons (short-run, business-cycle, and medium ...
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Regaining the Great Moderation

SSRN Electronic Journal, 2011
This is an op-ed style recommendation to give the FED the authority to establish a surcharge/rebate on commercial transactions. This would provideus with a direct mechanism to stimulate or restrain aggregate demand.
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Was There a Great Moderation for Inflation Volatility?

FEDS Notes, 2017
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.
Alan Detmeister, Edward Hulseman
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Great Moderation in the Japanese economy

Japan and the World Economy, 2013
Abstract This paper investigates the contribution of technology and nontechnology shocks to the changing volatility of output and labor growth in the postwar Japanese economy. A time-varying vector autoregression (VAR) with drifting coefficients and stochastic volatilities is modeled and long-run restriction is used to identify technology shocks in ...
Koichi Murase, Jun-Hyung Ko
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The great moderation in micro labor earnings

Journal of Monetary Economics, 2008
Between 1980 and the early 1990s the variability of labor earnings growth rates across the prime-age working population fell significantly. This decline and timing are consistent with other macro and micro observations about earnings growth volatility that are collectively referred to as the "Great Moderation." About half of the decline in earnings ...
John Sabelhaus, John Sabelhaus, Jae Song
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The Global Extent of the Great Moderation^*

Oxford Bulletin of Economics and Statistics, 2011
AbstractIn 2008 the US financial crisis spilled over into a number of other economies causing declines in GDP across the world. Yet the decades preceding the current downturn had been a period of unprecedented stability for the US economy. This article examines annual data for 98 countries over the period 1961–2007 and finds that lower GDP growth ...
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The Great Moderation and the unravelling of a Great Myth

2013
In June 2007, investors’ aggregated view of the value of financial assets in both equity and credit markets demonstrated little sign that the economy was about to collapse, resulting in massive capital destruction. Economic forecasts across the board remained robust, from central banks through to financial market practitioners in the banking and fund ...
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The Great Moderation in the USA and across the world

International Journal of Sustainable Economy, 2014
The collapse of the subprime mortgages market in August 2007 triggered the financial crises in the USA causing the first global recession since the World War II. The decades preceding this recession were a period of unusually mild volatility in the US economy.
Vinko Muštra, Bruno Ćorić
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The Illusion of the Great Moderation

2021
This chapter details the illusion of the Great Moderation. Global economic conditions improved markedly from 2004 to 2007. This prompt return to the growth trajectory of the prior decades came to be seen as proof of the so-called Great Moderation of high growth, stable prices, and low volatility and as a vindication of monetary policy.
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Central Banking and the Great Moderation

2020
Following the turbulence of the 1970s, much improved economic conditions lasted for some 25 years, a period known as the Great Moderation. With their damaged reputations restored, central banks kept inflation low and brought down interest rates. With research showing an inverse relationship between central bank independence and inflation, a world-wide ...
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