On the Sources of the Great Moderation

  title={On the Sources of the Great Moderation},
  author={Jordi Gal{\'i} and Luca Gambetti},
The remarkable decline in macroeconomic volatility experienced by the U.S. economy since the mid-80s (the so-called Great Moderation) has been accompanied by large changes in the patterns of comovements among output, hours and labor productivity. Those changes are re‡ected in both conditional and unconditional second moments as well as in the impulse… CONTINUE READING

18 Figures & Tables



Citations per Year

98 Citations

Semantic Scholar estimates that this publication has 98 citations based on the available data.

See our FAQ for additional information.