- Title
- Obtaining Clear and Timely Business Cycle Turning Point Signals With a Composite Leading Business Cycle Indicator
- Creator
- Keeton, Gavin R
- Subject
- To be catalogued
- Date Issued
- 2017
- Date
- 2017
- Type
- text
- Type
- article
- Identifier
- http://hdl.handle.net/10962/477876
- Identifier
- vital:78132
- Identifier
- https://doi.org/10.1080/10800379.2017.12097319
- Description
- The two decades preceding the 2008 global financial crisis was a period of unprecedented macroeconomic stability, in which sustained, strong economic growth was accompanied by low inflation. Termed the “Great Moderation” (CitationBernanke, 2004) reduced mac-roeconomic volatility over the period was variably at-tributed to structural economic changes, improve-ments in monetary policy and “luck” (CitationBernanke, 2004). Structural changes contrib-uting to reduced volatility included globalisation, the increased depth and sophistication of financial mar-kets, the increased importance of services in global economic activity and better management of invento-ries as a result of computer technolo-gy. CitationBernanke (2004:1) notes also that “Few disagree that monetary policy has played a large part in stabilizing inflation, and so the fact that output vol-atility has declined in parallel with inflation volatility, both in the United States and abroad, suggests that monetary policy may have helped moderate the vari-ability of output as well.” The third contribution to re-duced volatility, “luck”, reflects the fact that the world economy was subjected to fewer, less serious external shocks than previously.
- Format
- 3 pages
- Format
- Language
- English
- Relation
- Studies in Economics and Econometrics
- Relation
- Keeton, G., 2017. Obtaining Clear and Timely Business Cycle Turning Point Signals With a Composite Leading Business Cycle Indicator. Studies in Economics and Econometrics, 41(3), pp.61-64
- Relation
- Studies in Economics and Econometrics volume 41 number 3 61 64 2017 2693-5198
- Rights
- Publisher
- Rights
- Use of this resource is governed by the terms and conditions of the Taylor and Francis Online Terms and Conditions Statement (https://www.tandfonline.com/terms-and-conditions)
- Hits: 18
- Visitors: 18
- Downloads: 0
Collections
Keeton, Gavin Rodney (Prof)
RU Department of Economics and Economic History
SDG 08. Decent Work and Economic Growth
| Thumbnail | File | Description | Size | Format | |||
|---|---|---|---|---|---|---|---|
| View Details Download | SOURCE1 | Obtaining Clear and Timely Business Cycle Turning Point Signals With a Composite Leading Business Cycle Indicator.pdf | 652 KB | Adobe Acrobat PDF | View Details Download |