The "Great Moderation" and the US External Imbalance
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The early 1980s marked the onset of two striking features of the current world macro-economy: the fall in US business cycle volatility (the "great moderation") and the large and persistent US external imbalance. In this paper we argue that an external imbalance is a natural consequence of the great
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美国国家经济研究局创建时间：
2006-11-01
