Burren, Daniel; Neusser, Klaus - In: Applied Economics Letters 17 (2010) 16, pp. 1625-1631
The decline in volatility of US Gross Domestic Product (GDP) growth is a well-known stylized fact of post WWII macroeconomic data. Economists call this observation the Great Moderation. This article contributes to the discussion whether the drop in GDP volatility was a one-time break or a trend...