What Accounts for the Postwar Decline in Economic Volatility?
نویسنده
چکیده
www.phil.frb.org Business Review Q1 2004 23 www.phil.frb.org ver the past 20 years, the U.S. economy has had fewer and shorter recessions. In addition, over time, swings in the growth of many macroeconomic variables, such as gross domestic product, have become smaller. Why this decline in economic volatility? In this article, Keith Sill highlights some of the facts about the increased stability of the U.S. economy and assesses the contribution of policy and other factors to the decline in volatility. O BY KEITH SILL What Accounts for the Postwar Decline in Economic Volatility?
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