The ‘Great Moderation' shows no sign of ending, Spanish paper finds
The Great Moderation that characterised the two decades running up to the Great Recession of the late 2000s in fact never ended – and its persistence may be holding back recovery in the world's advanced economies.
In The two greatest: Great Recession vs. Great Moderation, María Dolores Gadea-Rivas, Ana Gómez-Loscos and Gabriel Pérez-Quirós revisit the results of McConnell and Perez-Quiros' "semninal" paper of 2000 with updated sample data, and find that the Great Moderation (GM), "as it was
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