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

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  • Gerald A. Carlino

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.

Suggested Citation

  • Gerald A. Carlino, 2007. "The great moderation in economic volatility: a view from the states," Business Review, Federal Reserve Bank of Philadelphia, issue Q1, pages 11-20.
    • Handle: RePEc:fip:fedpbr:y:2007:i:q1:p:11-20
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    File URL: https://www.philadelphiafed.org/-/media/frbp/assets/economy/articles/business-review/2007/q1/br_q1-2007-2_economic-volatility.pdf
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    Cited by:

    1. Chad R. Wilkerson, 2009. "Recession and recovery across the nation: lessons from history," Economic Review, Federal Reserve Bank of Kansas City, vol. 94(Q II), pages 5-24.
    2. David Shepherd & Robert Dixon, 2010. "The not-so-great moderation? Evidence on changing volatility from Australian regions," Department of Economics - Working Papers Series 1090, The University of Melbourne.

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    Keywords

    Economic stabilization;

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