منابع مشابه
Has the Business Cycle Changed? Evidence and Explanations
Over the past 30 years, economic activity has become less volatile in most G-7 countries. In the United States, for example, the standard deviation of the growth rate of GDP averaged over four quarters was one-third less during 1984 to 2002 than it was during 1960 to 1983. This decline in volatility is widespread across sectors within the United States and is also found in the other G-7 economi...
متن کاملThe Business Cycle and Chain-Weighted GDP: Has Our Perspective Changed?
In early 1996 the Bureau of Economic Analysis released data from an extensive revision to its measures of aggregate economic activity in the United States. The new data and methodology, which represent the first comprehensive revision of the National Income and Product Accounts (NIPA) since 1991, reflect more substantial changes than have many previous revisions.1 While past revisions have chan...
متن کاملHow and Why has Teacher Quality Changed in Australia?
International research suggests that differences in teacher performance can explain a large portion of student achievement. Yet little is known about how the quality of the Australian teaching profession has changed over time. Using consistent data on the academic aptitude of new teachers, we compare those who have entered the teaching profession in Australia over the past two decades. We find ...
متن کاملInventory Dynamics and Business Cycles: What Has Changed?
By historical standards, the U.S. economy has experienced a period of remarkable stability since the mid-1980s. One explanation attributes the diminished variability of economic activity to information-technology led improvements in inventory management. Our results, however, indicate that the changes in inventory dynamics since the mid-1980s played a reinforcing–rather than a leading–role in t...
متن کاملWhy Does Consumption Lead the Business Cycle?¤
Consumption in the US leads output at the business cycle frequency. Standard RBC models predict the opposite. We show in this paper that the lack of an endogenous propagation mechanism that can support demand shocks is responsible for the discrepancy between RBC theory and data. ¤I thank two anonymous referees and the editor Harald Uhlig for helpful comments on an earlier version of the paper.
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ژورنال
عنوان ژورنال: NBER Macroeconomics Annual
سال: 2002
ISSN: 0889-3365,1537-2642
DOI: 10.1086/ma.17.3585284