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- W1543842871 abstract "Two generally accepted regularities about US employment in the Great Moderation are the decline in the procyclicality of labor productivity and the increase in the volatility of labor relative to output. We test these stylized facts for robustness to statistical methodology and find the decline in procyclicality is fragile. Using Ohanian and Raffo’s (2011) new international data on total hours we then consider whether these moments are stylized facts of the global Great Moderation. We document significant international heterogeneity and find labor market frictions as found in Gali and van Rens (2010) cannot explain the international results." @default.
- W1543842871 created "2016-06-24" @default.
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- W1543842871 date "2013-01-01" @default.
- W1543842871 modified "2023-10-11" @default.
- W1543842871 title "The Varieties of Great Moderation Experience" @default.
- W1543842871 doi "https://doi.org/10.2139/ssrn.2287894" @default.
- W1543842871 hasPublicationYear "2013" @default.
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