GREAT MODERATION AND GREAT RECESSION: FROM PLAIN SAILING TO STORMY SEAS?

María Gadea (), Ana Gómez‐Loscos and Gabriel Pérez‐Quirós
Authors registered in the RePEc Author Service: Gabriel Perez Quiros and Ana Gómez-Loscos

International Economic Review, 2018, vol. 59, issue 4, 2297-2321

Abstract: Many have argued that the Great Recession of 2008 marks the end of the reduction in output volatility known as the Great Moderation. This article shows that this is not the case through an empirical analysis. Output volatility remains subdued despite the output loss of the Great Recession. This finding has important implications for policymaking because we also find that a lower volatility of output is associated with slower recoveries.

Date: 2018
References: Add references at CitEc
Citations: View citations in EconPapers (16)

Downloads: (external link)
https://doi.org/10.1111/iere.12337

Related works:
Working Paper: Great Moderation and Great Recession. From plain sailing to stormy seas? (2015)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wly:iecrev:v:59:y:2018:i:4:p:2297-2321

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0020-6598

Access Statistics for this article

International Economic Review is currently edited by Michael O'Riordan and Dirk Krueger

More articles in International Economic Review from Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association 160 McNeil Building, 3718 Locust Walk, Philadelphia, PA 19104-6297. Contact information at EDIRC.
Bibliographic data for series maintained by Wiley Content Delivery ().