Great Moderation

In economics, the Great Moderation refers to a reduction in the volatility of business cycle fluctuations starting in the mid-1980s, believed at that time to be permanent, and to have been caused by institutional and structural changes in developed nations in the later part of the twentieth century. Sometime during the mid-1980s major economic variables such as real gross domestic product growth, industrial production, monthly payroll employment and the unemployment rate began to decline in volatility.

单词	Great Moderation
释义	Great Moderation 英语例句库 The government called for greater moderation on the part of the unions. 政府要求工会方面更克制一些。 He showed great moderation in answering so gently the attacks made on his character. "他对人们对他人格的攻击,作了十分温和的回答,从而表现出极大的节制。" 英语百科 Great Moderation In economics, the Great Moderation refers to a reduction in the volatility of business cycle fluctuations starting in the mid-1980s, believed at that time to be permanent, and to have been caused by institutional and structural changes in developed nations in the later part of the twentieth century. Sometime during the mid-1980s major economic variables such as real gross domestic product growth, industrial production, monthly payroll employment and the unemployment rate began to decline in volatility.
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