The Great Moderation was a period of macroeconomic stability in the United States coinciding with the rise of central bank independence, beginning with the Volcker shock in 1980 and continuing through the 21st century. It is characterized by generally milder business cycle fluctuations in developed nations, compared with decades before.
The Great Moderation was a period of macroeconomic stability in the United States coinciding with the rise of central bank independence, beginning with the Volcker shock in 1980 and continuing through the 21st century. It is characterized by generally milder business cycle fluctuations in developed nations, compared with decades before.
Source: Wikipedia "Great Moderation" · CC BY-SA 4.0
Share this article: X · Bluesky