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The great moderation in economic volatility: a view from the states

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Author Info
Gerald A. Carlino

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Abstract

Since the middle of the 1980s, economic growth in the U.S. has become much more stable than it was in the preceding three decades, and the magnitude of the decline is substantial. What accounts for the decline in volatility, and why is the decline important for policymakers? In “The Great Moderation in Economic Volatility: A View from the States,” Jerry Carlino discusses these questions and makes the case that using state-level rather than just national data offers a much larger testing ground for analyzing the decline in economic volatility.

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File URL: http://www.philadelphiafed.org/research-and-data/publications/business-review/2007/q1/br_q1-2007-2_economic-volatility.pdf
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Publisher Info
Article provided by Federal Reserve Bank of Philadelphia in its journal Business Review.

Volume (Year): (2007)
Issue (Month): Q1 ()
Pages: 11-20
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Handle: RePEc:fip:fedpbr:y:2007:i:q1:p:11-20

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Related research
Keywords: Economic stabilization;

Cited by:
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  1. Chad R. Wilkerson, 2009. "Recession and recovery across the nation: lessons from history," Economic Review, Federal Reserve Bank of Kansas City, issue Q II, pages 5-24. [Downloadable!]
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This page was last updated on 2009-11-16.


This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.